BTCNews

XRP price is attempting to recover above the $0.4750 resistance zone. The price could gain bullish momentum if it settles above the $0.480 resistance zone. XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone. The price is now trading above $0.4750 and the 100-hourly Simple Moving Average. There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above the $0.480 resistance. XRP Price Recovers Again XRP price remained stable above the $0.4620 support and recently started a decent upward move like Bitcoin and Ethereum . The bulls were able to push the price above $0.470 to push the price in a short-term bullish zone. There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.4750 resistance zone and the 100-hourly...

Bitcoin price is up nearly 5% and there was a move above $62,500. BTC is now testing the $63,500 resistance zone with a positive angle. Bitcoin started a decent increase above the $62,200 and $62,400 levels. The price is trading above $62,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to continue higher above the $63,650 resistance zone. Bitcoin Price Starts Recovery Bitcoin price formed a base above the $60,000 zone . BTC remained stable and was able to start a decent increase above the $61,500 resistance zone. There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair. The bulls were able to pump the price above the $62,500 resistance. It is up nearly 5% and trading near the $63,650 resistance zone. Bitcoin price is trading above $62,500 and the 100 hou...

Ethereum enthusiasts were cruising down the information superhighway towards a July 4th fireworks celebration of a different kind: the launch of the first spot Ethereum ETF. But in a move that worried investors, the US Securities and Exchange Commission threw a big wrench into the works, unexpectedly returning applicants’ proposals and delaying the much-anticipated debut. Missed Exit: Ethereum ETF July Launch Goes Up In Smoke The news came as a shock to many, as market watchers and analysts alike had confidently predicted a July launch , with some even suggesting a celebratory trade on Independence Day. Bloomberg ETF analysts Eric Balchunas and James Seyffart were among those waving the checkered flag a little too early. Their prediction of a July 2nd debut went up in smoke faster than a Roman candle after the SEC decided to put the brakes on the process. Unfort think we gonna have to push back our over/under till after holiday. Sounds like SEC took extra time to get back to ppl ...

According to data from CoinMarketCap , the price of Bitcoin declined by 5.25% in the past week falling below the $60,000 mark. This price dip adds to the string of negative performances in the last month during which BTC has lost 9.88% of its value.  However, Bitcoin has recently seen an increase in buying interest despite its recent price dips and popular notions that the maiden cryptocurrency is bound to remain in a consolidation state for now. Prominent crypto analyst Ali Martinez has now stated another development that characterizes the resilient interest in Bitcoin amidst its current overall bearish trend. Retail BTC Investors Return In Numbers: Incoming Price Rally? In an X post on Saturday, Martinez reported that the number of new Bitcoin (BTC) addresses reached 352,124 on Friday. This figure marks the highest level since April and breaks a downtrend that has persisted since November 2023. Based on this data, the crypto analyst announced a resurgence in the number...

Avalanche (AVAX) has recently shown a strong correctional upswing, sparking renewed interest among investors and traders. This upward momentum comes after a rejection at $23.49 and indicates a potential challenge to the $30.34 resistance level.  As AVAX approaches this critical threshold, market participants are closely watching to see if the cryptocurrency can maintain its bullish trajectory and break through the resistance. The $30.34 level is now a focal point, determining whether Avalanche can sustain its rally and continue to climb higher. This article focuses on the use of technical indicators to examine AVAX’s current price movement to predict potential Scenarios if the price reaches the $30.34 resistance level.  Analyzing Avalanche’s Current Upswing Currently, on the 4-hour chart, the price of AVAX is actively trading above the 100-day Simple Moving Average (SMA). Although the price tends to be moving in a consolidating manner, there are possibilities that it coul...

May 2024 emerges as a pivotal month for Bitcoin, witnessing a notable amount of liquidation by long-term holders. Blockchain analytics firm IntoTheBlock highlighted a sell-off totaling roughly $10 billion, equivalent to approximately 160,000 BTC. This trend marked a significant departure from the usual holding patterns seen among long-term investors, who typically help stabilize Bitcoin prices by holding through volatility. Bitcoin Stability at Risk? Notably, these long-term Bitcoin holders, also known as the stalwarts of the Bitcoin community, have traditionally served as a bulwark against market turbulence, with their investment decisions often reflecting a steadfast belief in the cryptocurrency’s long-term value. The change in their behavior in May signals a broader sentiment shift within the market.  The scale of this sell-off not only underscores a potential loss of faith or a strategic financial recalibration but also poses serious implications for market liquidity and ...

A crypto expert has predicted a bullish price reversal for Bitcoin, the world’s largest cryptocurrency. The analyst suggested that Bitcoin’s price may have bottomed in , potentially signaling the start of market stabilization after a prolonged downturn. Bitcoin Price Reversal On The Horizon Crypto expert and Bitcoin analyst, Willy Woo has taken to X (formerly Twitter) to shed light on Bitcoin’s current price performance and its future outlook as market conditions stabilize. The analyst disclosed that there may be a good chance that “Bitcoin has cleared all price lows” for this market cycle.  The crypto expert disclosed that miner capitulation was one of the most reliable indicators for a subsequent price reversal in a cryptocurrency, typically ending periods of sideways or bearishness . Sharing a price chart of Bitcoin’s performance, the analyst has stated that short-term technicals point to a possible price reversal for the pioneer cryptocurrency.  He disclosed that ...

Despite Ethereum’s recent lackluster performance, Glassnode Co-founders, under the name ‘Negentrophic’ on Elon Musk’s X social platform, assert that ETH’s potential has yet to be fully realized. Analyzing historical data and market patterns similar to those in early 2021, Negentrophic predicts that Ethereum could reach a high of $7,500, a forecast based on current market structures and technical indicators such as the 161.8 Fibonacci extension level. Diving Into The $7,500 Prediction Assessing the prediction from these experts, a Fibonacci extension level seen in 2021, which signaled a major rise for Ethereum, seems to have now emerged on the ETH chart, suggesting that history might indeed repeat itself. The technical analysis shows a developing bull flag pattern on Ethereum’s chart, which typically indicates the continuation of a bullish trend. Ethereum could be primed for a substantial price increase if this pattern holds, especially considering the increased market interest ...

Crypto trader Duncan has explained why he is “extremely long” on Ethereum (ETH) despite the crypto token’s recent drop to around $3,400 . He emphasized the Spot Ethereum ETFs , which he believes could spark a significant rally for ETH. A ‘Significant Upside Repricing’ Could Be On The Horizon ForTHEEthereum Duncan mentioned in an X (formerly Twitter) post that he believes that the market is way too bearish at the moment and that there could be a “significant upside repricing” for Ethereum if the Spot Ethereum ETF inflows are “anything but horrible.” He further explained why he thinks the Spot Ethereum ETFs will be a huge success, contrary to what some might think.  First, he noted that asset managers view the crypto ETF space as a “new frontier” that could generate billions in management fees for them over the next ten years. He highlighted how BlackRock has had its most successful product launch ever with its Spot Bitcoin ETF , which he claims is already generating $45 mill...

FTX, the failed crypto exchange, will seek customer approval for its Chapter 11 plan to compensate victims and resolve government penalties stemming from the platform’s fraudulent collapse in November 2022.  The decision by Judge John Dorsey marks a significant step forward in the two-year-long bankruptcy proceedings, as voting by creditors plays a pivotal role in restructuring efforts. While FTX’s plan has gained support from key customer committees, a vocal group remains opposed and demands substantial revisions. FTX Offers Customers 119% Asset Recovery According to Bloomberg, under the proposed plan, most FTX customers are expected to recover 119% of their assets as of the day the company filed for Chapter 11 in November 2022. Other creditors may receive up to 143% of their owed amounts.  FTX’s legal team maintains that bankruptcy law necessitates valuing claims based on their value at the time of filing, despite subsequent increases in cryptocurrency prices. FTX’s d...

Solana failed to climb above the $135 resistance. SOL price started another decline, dropping nearly 10%, and now the bears aim for more downsides. SOL price remained in a bearish zone below the $142 resistance against the US Dollar. The price is now trading below $130 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $130 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend losses if there is a close below the $122.50 support zone. Solana Price Takes Hit Solana price attempted a recovery wave above the $132 level. However, SOL bears defended upsides above the $135 level and the price started another decline like Bitcoin and Ethereum . There was a drop below the $130 and $125 support levels. A low was formed at $123.24 and the price is currently trading in a downtrend. There is also a connecting bearish trend line forming with resistance at $130 on the hourly chart of the SOL/USD p...

XRP price struggled to recover above the $0.4880 resistance zone. The price is moving lower and the bears might aim for a move toward $0.4550. XRP price faced another rejection near the $0.4880 resistance zone. The price is now trading below $0.4850 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.4810 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend losses if there is a close below the $0.4720 support zone. XRP Price Extends Losses XRP price attempted a recovery wave above the $0.4820 resistance zone. However, the bears were active near the $0.4880 resistance zone. A high was formed at $0.4884 and the price started a fresh decline like Bitcoin and Ethereum . There was a move below the $0.4850 and $0.4800 levels. There was even a test of the $0.4720 support. A low was formed at $0.4722 and the price is now consolidating losses. It is also trading below $0.4850 and the 100-h...

Bitcoin price started another decline after it struggled near $64,550. BTC declined below the $63,500 support and might continue to move down. Bitcoin started a fresh decline from the $64,550 resistance level. The price is trading below $63,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses if there is a clear move below the $62,700 and $62,500 support levels. Bitcoin Price Dips Further Bitcoin price failed to recover above the $65,000 level . BTC struggled near $64,550 and started another decline. There was a steady decline below the $64,000 and $63,500 levels. The price even declined below the $63,000 level. A low was formed at $62,700 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC/USD pair. Bitcoin is now...

The cryptocurrency market witnessed severe bearish pressure over the past week, and the price of Chainlink (LINK) wasn’t an exception. The altcoin has continued to struggle with its torrid form, losing nearly 10% of its value in the last seven days. Interestingly, the bears seem to still be in control at the moment, with the latest on-chain revelation suggesting that there might be further downside for the LINK price over the next few days. Are Chainlink Investors Offloading Their Assets? Popular crypto analyst Ali Martinez revealed in a post on the X platform that huge amounts of the Chainlink token have made their way to centralized exchanges in the past day. This on-chain observation is based on Santiment’s “Supply on Exchanges” metric, which tracks the amount of a particular cryptocurrency being held on centralized exchanges. When this metric’s value increases, it implies that investors are making more deposits than withdrawals of a cryptocurrency (Chainlink, in this case) in...

Floki, the self-proclaimed Dogecoin rival with a Shiba Inu mascot, is shaking off recent market jitters with a surge in social media buzz and exciting ecosystem developments. While the broader cryptocurrency market remains volatile, Floki appears to be carving its own path, fueled by a passionate online community and strategic expansion plans. Floki TA Shows Bullish Pattern Technical analysts are taking notice of a bullish chart pattern forming around Floki. Jonathan Carter, a prominent crypto analyst, identified an ascending triangle pattern, a technical indicator that often precedes a price breakout. This pattern suggests a potential surge in FLOKI’s value if it can overcome a key resistance level at $0.000171. Additionally, consistent bounces back from the $0.00016500 mark highlight strong support for the coin, offering some reassurance to potential investors. #FLOKI The chart displays an ascending triangle, with strong support around $0.00016500 The RSI indicates oversold, s...

Ethereum (ETH) is currently down by 0.75% as its price continues a range-bound movement seen all week. However, in its monthly timeframe, the most prominent altcoin displays a concerning performance with a reported loss of 6.40% according to data from CoinMarketCap .  However, popular crypto analyst Ali Martinez has picked up a notable development on the Ethereum network which could spell good fortunes for price action in the coming days. Ethereum Active Addresses Soar To 3-Month High At 617,170 In an X post on June 22, Martinez reported a significant spike in the active addresses on the Ethereum blockchain. Using data from blockchain analytics company Santiment, the crypto analyst noted there were 617,170 active Ethereum users on June 21, marking the highest value for this metric in the past three months. #Ethereum just saw its largest spike in active $ETH addresses in three months, reaching a total of 617,170 active #ETH addresses. pic.twitter.com/CSqBOnQhEr — Ali ...

A crypto analyst has disclosed reasons why the price of Bitcoin could witness more declines to $52,000 lows. According to the analyst, Bitcoin has broken key support levels, which indicates a potential shift from a bullish to a bearish position.  Analyst Projects Bitcoin Crash To $52,000 In a post on X (formerly Twitter) on June 21, crypto analyst, Justin Bennett predicted that Bitcoin could witness a price crash to key ranges between $52,000 and $54,000. He shared a price chart illustrating Bitcoin’s recent decline,  highlighting that its price remains range-bound, showing no clear downward or upward trend as it trades between support and resistance. While Bennett believes that Bitcoin could plummet to $52,000, the analyst cited several reasons for this bearish outlook . He revealed that Bitcoin has broken past a key trend line from October 2023, suggesting a shift to more bearish territory. Additionally, the analyst noted market imbalances between February 26 and 27,...

Shiba Inu whales are on the move again, sparking speculations on what they expect from the meme coin. One whale, in particular, has caught the attention of the SHIB community following a massive withdrawal from the popular crypto and stock trading exchange Robinhood . Whale Pulls Out Almost $40 Million From Robinhood The Shiba Inu whale transactions that have got tongues wagging were first picked up on June 20 by the on-chain whale tracking platform Whale Alert. According to the report , the whale had removed a total of 2,2 billion SHIB from the exchange, which was worth approximately $40 million at the time of this transfer. The whale moved the coins to an unknown wallet, something that could be bullish for the price . This is because when whales move their coins to exchanges, they intend to sell, which might push the price down due to the selling pressure. However, when whales remove their coins from exchanges, it could mean they don’t plan to sell and are holding for better pri...

According to the latest insight from a CryptoQuant analyst, Bitcoin might be poised for a notable price correction. This possibility of a price correction is based on major Bitcoin metrics such as the Adjusted Spent Output Profit Ratio (ASOPR), signaling a notable implication for Bitcoin’s trajectory. Understanding ASOPR’s Role In Predicting BTC Corrections The ASOPR, a key indicator in the crypto market, measures the profit ratio of spent outputs by comparing the value at which coins were bought to the value at which they were sold. According to the CryptoQuant analyst, when this ratio exceeds 1, it suggests that coins are being sold at a profit, which often correlates with bullish market conditions . However, a critical threshold observed in historical data is when ASOPR approaches 1.08. At this point, the market tends to shift, signaling a potential onset of a correction phase. This pattern has been consistent over several market cycles, providing a valuable tool for investor...

Bitcoin has continued its recent bearish trajectory during the past day as the asset’s price has now slipped under $64,000. Here’s what the next support looks like for BTC. Bitcoin Has Strong On-Chain Support Between $61,900 & $63,800 According to data from the market intelligence platform IntoTheBlock , BTC is floating just above a critical on-chain demand zone. Demand zones refer to price ranges where many investors last bought their coins. These ranges can be determined through on-chain analysis, as the average cost basis of each address on the network can be readily calculated through its transaction history. Below is the chart shared by the analytics firm that shows the various price ranges near the current asset price in terms of the present demand. In the graph, the size of the dot corresponds to the number of addresses bought inside the respective range. It appears that Bitcoin currently has large demand zones both just above and below itself. According to IntoTheBl...

In a market that has long been captivated by the rapid rise and often speculative nature of meme coins like Dogecoin (DOGE) , Shiba Inu (SHIB) and PEPE, a notable shift is underway. According to Ki Young Ju, the CEO of CryptoQuant, the once-dominant meme coins are witnessing a decline in market influence, potentially signaling a maturing cryptocurrency landscape. The Decline of Meme Coins Dominance Ki Young Ju’s analysis reveals a significant reduction in the dominance of meme coins within the altcoin sector , a trend observed from recent market data. This change suggests a shift from speculative investments towards projects with more substantial fundamentals, akin to earlier phases in the development of the crypto market. “The era of meme coin speculation is winding down,” Ju states, emphasizing a return to fundamental analysis as a key driver for investment decisions. Memecoin dominance in alt markets is declining. CT would be shifting from gambling to focusing on funda...

On-chain data shows the memecoin Pepe currently has 80% of its holders in profit. Here’s how Dogecoin, Bitcoin, and other top coins compare. PEPE Is Among The Coins With The Highest Profitability Ratio Right Now In a new post on X, the market intelligence platform IntoTheBlock has shared a chart that shows how the various top cryptocurrencies compare against each other regarding the percentage of holders carrying a net unrealized profit currently. The analytics firm has determined these percentages using on-chain data; the transaction history of each address on a given network can reveal at what price it received and how many coins it received, based on which an average cost basis can be calculated. Naturally, the addresses or holders with this cost basis below the current spot price are in the green. They would contribute towards the holders in profit metric for the blockchain. Now, here is the chart posted by IntoTheBlock, which shows how this metric is looking at the moment f...

Crypto analyst Trader Tardigrade has provided insights into the Dogecoin (DOGE) future trajectory . Based on his analysis, the foremost meme coin could soon enjoy a god candle , sending its price to unprecedented heights.  Dogecoin’s Massive Rally Will Send It To $7.5 Trader Tardigrade predicted in an X (formerly Twitter) post that Dogecoin will rise to as high as $7.5 when it makes its “huge surge.” He made this prediction while revealing that the meme coin had formed a triangle consolidation , which is the last phase of consolidation before Dogecoin made that massive move to the upside.  The crypto analyst also revealed that these triangle consolidations have formed in every market cycle and usually occur just before Dogecoin enjoys a parabolic rally. Trader Tardigrade has been bullish on DOGE for a while now and has continued to lay out bullish narratives for the meme coin. In one of his previous X posts , he highlighted a ladle pattern, which he claimed has always ...