Vivek Ramaswamy said on X he was leaving the Department of Government Efficiency and was “confident that Elon and the team will succeed in streamlining government.”
Ethereum price remained below the $3,500 resistance while Bitcoin rallied. ETH is consolidating above $3,120 and facing many hurdles. Ethereum failed to gain pace for a close above $3,450 and corrected gains. The price is trading below $3,300 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $3,370 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another increase if it clears the $3,325 resistance level. Ethereum Price Stuck In A Range Ethereum price started a decent upward move above the $3,300 level but upsides were limited compared to Bitcoin. ETH failed to gain pace for a close above $3,450 and corrected gains. There was a move below the $3,320 and $3,300 support levels. A low was formed at $3,203 and the price is now consolidating losses. There was a minor increase above the $3,240 level. The price tested the 23.6% Fib retracement level of the recent drop from the $3,444 swing high to the $3,203 low. Ethereum price is now trading below $3,300 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,260 level. The first major resistance is near the $3,320 level or the 50% Fib retracement level of the recent drop from the $3,444 swing high to the $3,203 low. The main resistance is now forming near $3,350. There is also a short-term contracting triangle forming with resistance at $3,370 on the hourly chart of ETH/USD. A clear move above the $3,370 resistance might send the price toward the $3,450 resistance. An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone or even $3,550 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,325 resistance, it could start another decline. Initial support on the downside is near the $3,200 level. The first major support sits near the $3,150. A clear move below the $3,150 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 support level in the near term. The next key support sits at $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,200 Major Resistance Level – $3,325
A potential pardon for Ulbricht could spark debates on justice reform and the ethical implications of digital marketplaces.
The post Elon Musk says Trump will free Ross Ulbricht appeared first on Crypto Briefing.
Bitcoin price started a short-term downside correction after setting a new all-time high. BTC is consolidating above $101,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $109,000 zone. The price is trading below $104,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $104,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $100,000 support zone. Bitcoin Price Sets New ATH Bitcoin price started a decent upward move above the $102,000 zone. BTC was able to climb above the $104,500 and $103,800 levels. The bulls even pushed the price above the $107,000 level. The price traded to a new all-time high at $109,112 and recently there was a downside correction. There was a drop below the $104,500 and $103,500 levels. The price even dipped below $102,000. A low was formed at $100,114 and the price is now rising. There was a move toward the 23.6% Fib retracement level of the recent decline from the $109,112 swing high to the $100,114 low. Bitcoin price is now trading below $104,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $104,000 level. Besides, there is a connecting bearish trend line forming with resistance at $104,000 on the hourly chart of the BTC/USD pair. The first key resistance is near the $104,500 level or the 50% Fib retracement level of the recent decline from the $109,112 swing high to the $100,114 low. A clear move above the $104,500 resistance might send the price higher. The next key resistance could be $106,500. A close above the $106,500 resistance might send the price further higher. In the stated case, the price could rise and test the $108,000 resistance level. Any more gains might send the price toward the $109,500 level. More Losses In BTC? If Bitcoin fails to rise above the $104,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $100,500 level. The first major support is near the $100,000 level. The next support is now near the $98,800 zone. Any more losses might send the price toward the $96,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $100,500, followed by $100,000. Major Resistance Levels – $104,000 and $105,500.
On-chain data shows the XRP whales have been making a large amount of inflow transactions to Binance recently, a sign that may not be ideal for the asset’s price. XRP Whales Have Made A High Number Of Transactions To Binance Recently As explained by an analyst in a CryptoQuant Qucktake post, the XRP Whale to Exchange Transactions metric has spiked for the cryptocurrency exchange Binance recently. Related Reading: Crypto Liquidations Cross $300 Million As Bitcoin Reclaims $102,000 The “Whale to Exchange Transactions” here is an on-chain metric that keeps track of the total number of transfers that are taking place from whale entities to wallets associated with a given centralized exchange. Whales refer to the largest of investors on the network, who can hold some degree of influence in the market thanks to their huge holdings. As such, this cohort can be worth keeping an eye on. One way to monitor their movements is through the Whale to Exchange Transactions. When the value of this metric is high, it means the whales are making a high number of moves to the platform. As one of the main reasons why investors use exchanges is for selling-related purposes, this kind of trend can be a sign that the large holders are looking to sell. On the other hand, the indicator being low can imply this group isn’t interested in trading away the cryptocurrency as it’s not making too many exchange-related transfers. Now, here is the chart shared by the quant that shows the trend in the 7-day simple moving average (SMA) of the XRP Whale to Exchange Transactions for Binance over the past couple of years: As is visible in the above graph, the 7-day SMA XRP Whale to Exchange Transactions for Binance registered an extremely large value just before the latest price rally beyond the $3.3 mark. Related Reading: XRP Surges Past $3.2 As Whale Activity Spikes 81% The timing would imply that these humongous investors may have been anticipating the run, so they made the transfers in order to appropriately reposition themselves. So far, XRP has managed to hold around its highs, meaning that the whales may not have yet pulled the trigger on their selling. It only remains to be seen, though, how long these investors would keep sitting on their profits, especially if the cryptocurrency continues its recent trend of sideways movement. XRP Price XRP has been one of the best performers among the top coins by market cap during the past week, with its price noting a surge of more than 38%. While the run started off strong, it has seen a cooldown in the last few days as the asset has seen overall flat consolidation. The below chart shows how the asset’s price has behaved during the past month. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Linea partnered with Nansen to detect 'Sybil' behavior, which included automated and coordinated activities across related wallets.
El Salvador’s total stockpile now stands at 6,044 Bitcoin, worth over $617 million, after the country bought an additional 12 BTC in the last day.
During his second inauguration speech, President Donald Trump endorsed a Mars mission as a part of America’s push into new horizons.
Polymarket currently predicts a 95% chance that Donald Trump would pardon the Silk Road creator in his first week in office.
Dogecoin traders have lost over $65 million in 24 hours amid the largest liquidation event in this year so far. This development came as the DOGE price crashed violently after climbing to as high as $0.43 on Sunday. Dogecoin Traders Lose Over $60 Million In 24 Hours Coinglass data shows that Dogecoin traders have lost over $65 million in the last 24 hours. Traders who went long on DOGE suffered the most, with $54.81 million in long positions liquidated during this period. Short traders accounted for the remaining loss, with $7.90 in short positions liquidated. Related Reading: Dogecoin ‘Power Of 3’ Pattern Enters Distribution Phase: Massive Bull Run Incoming? These short liquidations likely occurred earlier on Sunday, when the Dogecoin price reclaimed the $0.40 support level and rebounded to as high as $0.43. However, the price action took a drastic turn later in the day, crashing from the intra-day high of around $0.43 to as low as $0.35, leading to the flush in long positions. Dogecoin traders weren’t the only ones who suffered significant losses. Other crypto traders lost substantial sums as the crypto market witnessed its largest liquidation event this year, with over $1 billion liquidated in the last 24 hours, according to Coinglass data. Long traders took the most hit, with $903.59 million in long positions liquidated. Meanwhile, $260 million in short positions were liquidated. These liquidations occurred as the Bitcoin price dropped from as high as $106,000 to $100,000, dragging other coins, including Dogecoin, along with it. This price drop across the board occurred mainly due to the US First Lady Melania Trump’s launch of her meme coin, ‘MELANIA,’ which drained liquidity from other coins in the market. Dogecoin traders were also bound to take a significant hit considering DOGE’s strong price correlation with BTC. As such, a Dogecoin price crash was inevitable as the flagship crypto nosedived to as low as $100,000. The Cycle Is Not Over Crypto analyst Kevin Capital provided optimism for Dogecoin traders, stating that the cycle is not over. The analyst also reminded those upset at Donald Trump and his team about the ‘TRUMP’ and ‘MELANIA’ meme coins that Dogecoin could easily have remained at $0.11 if the incoming president had not won the elections instead of Kamala Harris. Related Reading: Crypto Analyst Predicts When Dogecoin Price Will Hit $3 This Cycle As such, he urged Dogecoin investors and traders to be grateful for how far DOGE has come since November 5th, 2024, when Trump won the elections. Indeed, Trump’s victory was the primary catalyst for Dogecoin’s gains last year. The foremost meme coin had maintained a tepid price action for most of last year until Elon Musk’s Department of Government Efficiency (D.O.G.E), coined from DOGE, looked likely to come to life as Trump led the polls. At the time of writing, the Dogecoin price is trading at around $0.36, down over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com
Ramaswamy’s exit puts Musk’s leadership under scrutiny as DOGE’s directives may shape Congress and Trump’s executive orders.
The Ethereum Foundation’s move to support Ethereum’s DeFi ecosystem comes after months of criticism accusing it of not caring enough about the space.
Beijing's half-marathon will see humans racing alongside humanoid robots as China pushes to dominate global robotics.
Circle CEO Jeremy Allaire expressed optimism about President Donald Trump’s potential to enact policies favorable to the crypto industry, including executive orders that could remove barriers to digital asset adoption, Reuters reported on Jan. 20. Speaking at the Reuters Global Markets Forum during the World Economic Forum in Davos, Allaire highlighted the urgency of reversing […]
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Ethereum (ETH) continues to lose ground to Bitcoin (BTC) as the latter’s dominance rises, with US President-elect Donald Trump set to take office later today. At the time of writing, the ETH/BTC trading pair stands at 0.031, marking a four-year low for the ratio. ETH/BTC Continues To Decline As Trump Focuses On Bitcoin Over the past year, Bitcoin has appreciated by an impressive 158%, surging from approximately $41,000 on January 21, 2024, to $107,608 at the time of writing. The cryptocurrency has consistently reached new all-time highs (ATH) throughout the year. In contrast, Ethereum has delivered a modest return of approximately 35% over the same period and remains 32% below its November 2021 ATH of $4,878. Related Reading: Will Ethereum Bounce Back? Crypto Analysts Discuss Potential Price Recovery According to the weekly chart below from TradingView, the ETH/BTC trading pair — also referred to as the ETH/BTC ratio within the crypto industry — has reached a fresh four-year low. This decline has raised concerns about the likelihood of an Ethereum-led altcoin season. Currently trading at 0.031, the ETH/BTC ratio has erased all gains accumulated since March 2021. The pair peaked at 0.087 in December 2021, during the height of that year’s altcoin season. Since then, however, Ethereum, the second-largest digital asset by market capitalization, has experienced a steady decline against Bitcoin. In May 2024, the ratio fell below 0.054, a critical support level that had previously held firm in June 2022. Several factors have contributed to Ethereum’s underperformance, including Trump’s perceived preference for Bitcoin and the rising competition from rival smart-contract platforms like Solana (SOL). Unlike Bitcoin, Ethereum has struggled with adoption. Corporations worldwide are increasingly incorporating Bitcoin into their balance sheets, reinforcing BTC’s status as a premier digital asset. Additionally, speculation about the creation of a US strategic Bitcoin reserve has further bolstered the narrative around Bitcoin’s limited supply, driving its price higher. Conversely, Ethereum’s relatively high issuance rate has cast doubt on its “ultrasound money” narrative. Ethereum’s 2024 performance has also eroded confidence among some of its largest holders. Notably, an ETH whale recently sold 10,070 ETH at a $1 million loss, signaling waning investor trust. Will 2025 Change Ethereum’s Fortunes? While 2024 was a challenging year for Ethereum in terms of price performance, crypto analysts remain optimistic about the asset’s prospects in 2025. For example, a report by Steno Research predicts that Ethereum could surge to as high as $8,000 this year. Related Reading: Ethereum Poised For A Bullish Q1 2025? Here’s What Experts Say Similarly, crypto analyst Daan forecasts that the ETH/BTC trading pair could rise above 0.04 during Q1 2025. In December 2024, Ethereum exchange-traded funds (ETFs) experienced renewed interest from institutional investors, fueling hopes for significant capital inflows into the smart-contract platform. That said, Ethereum must first overcome strong resistance at the $4,000 price level. At press time, ETH trades at $3,368, down 1.3% in the past 24 hours. Featured image from Unsplash, Charts from TradingView.com
A crypto-friendly US government could form the base for new highs for Bitcoin and other digital assets.
Bitcoin (BTC) registered a significant recovery in the past week, jumping from the $90,000 price area to a new all-time high at $109,357.07 on Jan. 20. However, a new Bitfinex Alpha report warns that BTC’s upward momentum faces potential headwinds, as “sell-the-news” trading behavior looms large. Bitcoin’s rebound followed a steep decline to $89,698, which […]
The post Bitcoin’s bull run faces test amid potential Trump-era crypto policies – Bitfinex appeared first on CryptoSlate.
The project acquired $47 million worth of ether and $47 million worth of wrapped bitcoin, among other tokens, on Trump’s first day in office.
The expanding ranks of pro-Bitcoin presidents are boosting global optimism for crypto mass adoption.
Following weeks of declines, Ethereum (ETH) seems to have begun its recovery, closely tracking Bitcoin’s upward movement. As of today, ETH has reclaimed the $3,300 level, reflecting a 7.5% increase over the past week. This rebound has sparked renewed interest among market participants, who are closely watching Ethereum’s next moves, particularly in light of improving market sentiment and key metrics indicating the potential for further gains. Related Reading: Ethereum Price Faces Another Rejection: Will Momentum Return? Renewed Market Optimism Observed, Road To $3,500? A CryptoQuant QuickTake Platform contributor ShayanBTC recently highlighted that Ethereum is consolidating within a range of $3,200 to $3,500. According to Shayan, market dynamics around this price range suggest that a bullish breakout could be on the horizon. While funding rates—a critical indicator of market sentiment—initially declined, it has begun to rise again, signaling a renewed appetite for long positions and greater confidence in Ethereum’s near-term performance. As Ethereum edges closer to the $3,500 resistance level, the supply and demand dynamics at this price point are drawing significant attention. The presence of notable supply in this range emphasizes the importance of sustained bullish momentum for a breakout. Shayan has pointed out that the funding rates metric will be a key indicator to watch. If funding rates continue to rise, it could signify heightened market optimism, increasing the likelihood of Ethereum pushing beyond $3,5000. According to Shayan, for Ethereum to overcome this critical resistance, the futures market must maintain and strengthen its bullish sentiment. This will require not only a continued rise in funding rates but also an overall increase in long positions and trading activity. The interplay between these factors will determine whether Ethereum can achieve a decisive breakout, making the upcoming market action pivotal for traders and investors. Ethereum Market Performance And Outlook So far, Ethereum is currently trading for $3,346, at the time of writing with the asset recording an increase of 1.3% in the past day. Meanwhile, on the weekly time frame, Ethereum has surged by more than 10% in price suggesting a consistent upward momentum in the past 7 days. Related Reading: Ethereum Whales Double Holdings To 43% Post-Merge – Details However, despite this increase in ETH’s price, the asset is still roughly a 31.3% decrease away from its all-time high (ATH) of $4,878 registered in November 2021. Interestingly, despite this, some analysts are still quite bullish on Ethereum, especially with the new pro-crypto administration. A renowned crypto analyst on X known as Trader PA recently shared in a post a bullish pattern on ETH’s chart in which if ETH makes a breakout it could see a significant rally. Trump will send Ethereum to $5,000. He already bought $72mil in the past 48 hours. pic.twitter.com/PwzYj5byhC — TraderPA (@Trader1PA) January 20, 2025 Featured image created with DALL-E, Chart from TradingView
US Securities and Exchange Commission (SEC) Commissioner Mark Uyeda was appointed as the acting chair of the regulator by President Donald Trump action published on Jan. 20. Meanwhile, the SEC released a statement announcing the official resignation of Chair Gary Gensler. Uyeda will lead the regulator until June 5, 2026 — the date when Gensler […]
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Mark Cuban plans to launch a Trump-inspired meme coin, donating all proceeds to the US Treasury to help reduce national debt.
The post Mark Cuban announces Trump-inspired meme coin to pay down US debt appeared first on Crypto Briefing.
President Donald Trump has elevated Republican Commissioner Mark Uyeda to take over the SEC from a now-departed Gary Gensler.
Some Coinbase users report Solana transfers taking hours to clear on the crypto exchange.
The current market sentiment appears confusing due to the immense profit-taking in the past 24 hours. Amid this, XRP, the native token of Ripple Labs, seems promising and is poised for a massive upside rally, as long-term holders have shown strong interest and have been accumulating substantial amounts of tokens. Record $250 Million of XRP …
Trump appoints Mark Uyeda as acting SEC chair, replacing Gary Gensler, a move signaling new SEC leadership change and crypto policy focus.
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Memecoin traders struggle to sift signal from noise as dozens of imitators launch Trump-themed tokens.
Members of the US Commodity Futures Trading Commission also announced on Jan. 20 that Caroline Pham would serve as acting chair, filling two crucial regulatory roles.
Bitcoin hit new highs on Jan. 20, but data shows traders are neutral as the market waits to see if a BTC-friendly executive order is issued by President Trump.
World Liberty Financial (WLFI), the DeFi platform tied to President Donald Trump, has undertaken an aggressive push to diversify its crypto portfolio, spending more than $103 million on a mix of established and emerging digital assets. WLFI’s acquisitions represent a significant escalation of its activity since the conclusion of its successful presale, which raised $30 […]
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