BTCNews

Bitcoin has seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by nearly 10% in the past two weeks alone, registering a 24-hour high of $66,000 earlier today, although BTC has now seen a slight retracement, currently trading at $63,508. Amid this price performance, Axel Adler Jr, an analyst from the on-chain analytics platform CryptoQuant, has shed light on the potential for Bitcoin to see a bigger rally shortly based on key indicators. Bitcoin Key Indicator Pointing To A Bigger Rally According to Adler, a significant shift observed in Bitcoin’s market activity appears to suggest that the crypto market might be gearing up for a bullish momentum soon. One of the focal points of Adler’s analysis is the “Exchange Flow Multiple,” which plays a crucial role in understanding the movement of Bitcoin on exchanges. This indicator measures the ratio between short-term (30-day) and long-term (365-day) Bitcoin inflows and outflows ...

On-chain data shows the XRP whales have participated in a significant amount of buying recently, a potential reason behind the asset’s surge. XRP Whales Have Added 470 Million Tokens To Their Supply Recently As explained by analyst Ali Martinez in a new post on X, the XRP whales have expanded their holdings over the last 10 days. The indicator of relevance here is the “ Supply Distribution ” from the on-chain analytics firm Santiment, which keeps track of the total amount of tokens that a given wallet group is carrying right now. Addresses or investors are put into these groups based on their current balance. Wallets with 5 coins, for instance, fall inside the 1 to 10 coins group. In the context of the current topic, the whale entities are the addresses of interest. This group’s range is typically defined as 100 million to 1 billion XRP. At the current exchange rate, the lower end of this range converts to around $63.1 million, while the upper one to $631 million. Generally, the ...

Shiba Inu has been on an uptrend recently, after suffering losses for the better parts of the second and third quarters of the year. This recovery going into the new month plays into the high expectations for the meme coin, especially in Q4, when the altcoin’s price is expected to more than double. Using historical data, this report elaborates on why the expectations for the Shiba Inu price are high going into the last quarter of the year 2024. The Most Bullish Month Of The Year For Shiba Inu According to historical performance, the end of September is about to usher in the most bullish quarter of the year 2024 for Shiba Inu . This is especially true for the month of October which has never ended in the red for the meme coin. If this trend holds, then the SHIB price could continue to rise from here. Data from the CryptoRank website shows that the Shiba Inu price has seen an average return of +283.4% in the month of October. This average return could mean that the Shiba Inu price ...

A recent tweet from Uphold, a digital currency platform, has sparked a flurry of skepticism and exhilaration within the XRP community. The tweet jokingly implied that “XRP just reached $1,000,” which incited a flurry of speculation regarding the feasibility of such a price point. Although some enthusiasts are supporting the concept, numerous critics have promptly dismissed it as unrealistic, citing the substantial market capitalization increase that would be necessary for XRP to achieve that level. At the time of writing, XRP is trading at approximately $0.64. A monumental increase in value that has left many perplexed is required for the altcoin to reach $1,000. XRP: The Price Surge Debate XRP now displays a small positive momentum as it moves up approximately 3.6% week-over-week and 11% month-over-month. Still, this keeps it around 80% away from its all-time high (ATH), which does raise certain questions about where this could be heading. It is important to note that the finan...

Ethereum price is correcting gains from the $2,720 resistance. ETH is now trading below $2,650 and might find bids near the $2,600 level. Ethereum started a downside correction from the $2,720 zone. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,600 support to start a fresh increase in the near term. Ethereum Price Dips Again Ethereum price extended gains and traded above the $2,650 level. ETH even cleared the $2,700 level before the bears appeared. A high was formed at $2,728 and the price started a downside correction like Bitcoin . There was a move below the $2,700 and $2,650 levels. The price traded below the 50% Fib retracement level of the upward move from the $2,554 swing low to the $2,728 high. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average . However,...

Bitcoin price extended its increase above $66,000. BTC is now correcting gains below $65,500 and might continue to move down toward $64,000. Bitcoin is correcting gains from the $66,500 zone. The price is trading below $65,250 and the 100 hourly Simple moving average. There was a break below a short-term bullish trend line with support at $65,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $64,000 support zone. Bitcoin Price Starts Downside Correction Bitcoin price remained supported near the $63,250 level. BTC extended its increase above the $65,500 resistance zone. It even cleared the $66,000 level. A high was formed at $66,452 and the price is now correcting gains. There was a decline below the $66,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $62,672 swing low to the $66,452 high. There was a break below a short-term bullish trend line with sup...

Ethereum’s movement last week was full of mixed signals as Spot Ethereum ETFs started to witness good inflows. Notably, ETH has been on a rally since the middle of September, reflecting a 25% gain from the September 6 low of $2,171 as it crossed $2,715 on September 27.  This rally and the well-anticipated inflows in Spot Ethereum ETFs brought a much-needed breather into the Ethereum ecosystem. According to on-chain data, last week’s price action saw many Ethereum addresses moving into the profitability zone. Particularly, last week’s rally pushed Ethereum’s profitability from 59% of addresses to 69%. Ethereum Addresses See Much-Needed Profitability After enduring weeks of market consolidation and outflows from Spot Ethereum ETFs, Ethereum’s price began an upward trajectory in the middle of September that has reignited investor interest. According to data shared by on-chain analytics platform IntoTheBlock (ITB), the rally has led to more than two-thirds of Ethereum holders bein...

XRP aficionados are ecstatic when market analyst EGRAG predicted an 888% increase in the cryptocurrency’s value. This optimism isn’t just wishful thinking; it’s based on trends seen on XRP’s one-month chart that mirror the cryptocurrency’s rapid success in 2017. As XRP struggles to reclaim prior highs, many traders wonder if this is the beginning of another bull run. EGRAG’s chart analysis shows that XRP almost touched the red rising support line four times. The pattern is similar to the price movements this currency experienced during the 2017 bull run as XRP popped from a value of $0.003 to a solid $3.31 in January 2018.The repeat of this pattern suggests that XRP may soon embark on a similar course. #XRP 888.88% – The Secret Behind the 8’s : Check out the chart below — it’s presenting a crucial pattern showing #XRP is echoing the chart behavior from 2017! Back then, the Red Ascending Support Line was tapped 4 times before sparking the legendary 2017 #BullRun . … pic.twitter...

The lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) has in fact not ended, as new reports of the regulator possibly opposing the court’s decision have surfaced. If the SEC decides to proceed with the appeal, Ripple could be drawn into an even longer and more tedious legal dispute, extending the uncertainty about its regulatory clarity.  SEC May Appeal Ripple Court Ruling  In an X (formerly Twitter) post on September 26, Fox Business journalist Eleanor Terrett revealed new information concerning the three-year-long court battle between Ripple and the US SEC. Terrett disclosed that the SEC may likely appeal the July 2023 ruling made by Judge Analisa Torres’ concerning Ripple’s programmatic sales of XRP. In the crypto community, there has been an ongoing conjecture over the SEC’s intentions to appeal the court’s ruling on Ripple. Many crypto community members had assumed that the regulator would not file an appeal, as a result, they be...

Uniswap’s UNI has grown in favor of investors as the token continues its upward trajectory in the face of crucial on-chain developments. According to CoinGecko, the token surged 30% since last month, keeping the token on the green zone. With the market’s renewed bullishness, UNI might be on the road for some gains in the short term.  Uniswap recently announced a development that may enhance user experience in using the platform altogether. Investors are excited as the platform continues to find innovative ways to improve user engagement.  Gas Abstraction: A Leap For Uniswap UX?  Across Protocol’s Chief Technology Officer, Matt Rice , and Uniswap’s Staff Software Engineer, Mark Toda recently discussed about the ERC-7702 which, if passed, would introduce a new transaction type known as externally owned accounts (EOAs). In general, ERC-7702 will implement gas abstraction, a feature that would both improve user experience and save users a ton of money in the process....

Doggy-themed meme coin, Shiba Inu (SHIB), could be gearing up for a major rally to new all-time highs this bull cycle. Given the cryptocurrency’s recent bullish performance, analysts predict that Shiba Inu can surge above its all-time high of $0.000086.  Shiba Inu Targets New All-Time Highs The price of Shiba Inu recently jumped from around $0.00001 to $0.00002. This significant price increase occurred in the last few weeks, hinting that the popular meme coin may be getting ready for a parabolic rally in the Fourth Quarter (Q4) of 2024 . Based on the meme coin’s current bullish performance , a crypto analyst and prominent Shiba Inu supporter identified as ‘SHIB Knight’ has expressed optimism about SHIB’s price outlook . In an X (formerly Twitter) post , the analyst shared a Shiba Inu price chart, suggesting that the popular meme coin was gearing up to surpass the $0.00008 mark.  Further solidifying his bullish forecast, SHIB knight declared that Shiba Inu was finally r...

The market sentiment towards Ethereum (ETH) has turned relatively bearish, largely due to the cryptocurrency’s recent price volatility . This negative sentiment is evident in Ethereum’s new active addresses, having crashed by a whopping 43%, underscoring reduced network activity and investor confidence.  New Active Addresses On Ethereum Decline Data from The Block is showing notable fluctuations in Ethereum’s network activity , as the number of new active addresses has seen a sharp unexpected decline over the past three months.  On June 27, new active addresses on the Ethereum network surged to 138,620 before dropping drastically to around 89,000 in the first few weeks of July. While the volume fluctuated between 80,000 and 95,000 in August, it soon jumped back above 100,000 at the end of the month. Despite Ethereum experiencing a significant uptick in its price recently, the new active addresses on its network dropped as low as 78,100 on September 24, marking a 23.43...

Data shows metrics related to Shiba Inu have seen rapid growth alongside the meme coin’s 34% surge, a potential sign that FOMO is developing among investors. Shiba Inu Has Seen An Uptick In Activity With Its Latest Rally In a new post on X, the analytics firm Santiment has discussed how the various indicators related to Shiba Inu have looked while its price has shot up 34% over the past week. There are three on-chain metrics of interest here: Volume, Circulation, and Whale Transaction Count. The first of these, Volume, tracks the total amount of SHIB involved in trades on the major exchanges every day. This indicator naturally reflects how intense the investors’ trading interest in the coin is. Circulation also relates to activity, but it’s not restricted to exchanges. This metric measures the total number of unique tokens of the asset participating in transactions on the network. Whenever the Volume spikes without a corresponding spike in this indicator, it means that the tradin...

Bitcoin has been the subject of recent media attention, not only due to its price increase above $65,000 but also due to the extraordinary inflows into spot Bitcoin ETFs. These inflows, according to Farside Investors , have reached a remarkable $365 million as of September 26, 2024, which is indicative of the increasing institutional interest in the cryptocurrency market. Record Inflows Amid Market Optimism The biggest daily flow for the month came from BlackRock’s Bitcoin ETF, which surged about $184 million on September 25, 2024. This spike coincides with withdrawals from numerous other ETFs, indicating a significant change in institutional investors’ view. Although there were just $2.1 million in inflows into other platforms such as the Bitwise Bitcoin ETF, BlackRock’s performance is noteworthy and serves as a ray of hope among the market’s volatility. For the past five days, there has been a positive cumulative inflow of around $497 million into US spot Bitcoin ETFs. The Fed...

Shiba Inu is experiencing a notable price breakout, surging over 19% and positioning itself toward the critical resistance level of $0.00002631. This significant rally indicates a shift in market momentum, characterized by robust buying pressure and increased trading volume. Technical indicators suggest that SHIB is establishing a bullish trend, with key support levels solidifying its upward trajectory.  As Shiba Inu approaches this pivotal resistance zone, we will navigate its recent 19% breakout and its approach toward the critical resistance level of $0.00002631. By examining the underlying technical indicators, market sentiment, and key support levels, we will assess the strength of SHIB’s upward trajectory and explore whether this rally can sustain its upward trajectory in the face of market resistance. Bullish Momentum Builds As Shiba Inu Targets Key Resistance On the 4-hour chart, Shiba Inu trades above the SMA, showcasing strong bullish momentum as it approaches the ...

Ethereum, the second-largest cryptocurrency by market capitalization, has yet to reclaim the $3,000 price level since early August. Since the beginning of September, Ethereum has mostly traded below $2,600, but this week brought a glimmer of hope for investors as it finally managed to break above the $2,600 threshold. Now that this resistance threshold has been broken, the next outlook is a continued surge up until the $3,000 price level. An analysis on the CryptoQuant platform points to a potential catalyst for this move to the upside. Notably, this analysis identifies an emerging bullish trend in Ethereum’s funding rates as a critical catalyst. Bullish Shift In Funding Rates According to an ETH analysis on CryptoQuant by ShayanBTC, Ethereum’s 30-day moving average of funding rates has seen a slight but noticeable bullish shift after an extended period of decline. This change suggests that traders are once again becoming more confident in Ethereum’s price performance, partic...

As the altcoin season approaches, Cardano (ADA) is gaining momentum , having recorded more than a 14% increase in the past week, according to CoinMarketCap. Notably, a crypto analyst has identified a strong buy signal for ADA, suggesting that it could potentially set off a parabolic rally that might drive the price of Cardano to new all-time highs around $5.   Cardano New Buy Signal To Trigger Rally To $5 On September 24, crypto analyst, TradingShot published a detailed analysis and report on Cardano’s price movements, centering on key technical indicators to predict the cryptocurrency’s future price . According to the analyst, Cardano is currently flashing one of the most powerful long-term buy signals possible on the weekly time frame. Based on this strong buy signal and other technical indicators, the crypto analyst predicts that Cardano could begin a new parabolic rally in the coming weeks. The expectation is that the higher highs trend line will set a resistance le...

Bitcoin price is again rising above the $63,800 resistance. BTC could gain pace if it clears the $64,750 resistance zone and then $65,000. Bitcoin is aiming for more gains above the $64,800 zone. The price is trading above $63,650 and the 100 hourly Simple moving average. There was a break above a short-term contracting triangle with resistance at $63,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend gains if it breaks the $64,750 resistance zone. Bitcoin Price Could Surpass $65,000 Bitcoin price started another increase from the $62,500 zone. BTC was able to clear the $63,500 and $63,800 resistance levels. The bulls even pushed the price toward the $64,750 level. There was a break above a short-term contracting triangle with resistance at $63,750 on the hourly chart of the BTC/USD pair. A high was formed at $64,770 and the price is now correcting gains. There was a drop below the $64,600 and $64,400 support levels. The price dipped b...

Optimism about the Bitcoin future outlook remains strong, with a crypto analyst forecasting a massive $100,000 price increase for the pioneer cryptocurrency. With expectations of an even greater price surge, the analyst believes that a $100,000 ATH for Bitcoin in 2025 is a nominal price target. Why Bitcoin Will Rise To $100,000 In 2025 Luke Broyles, a prominent crypto analyst and Bitcoin enthusiast recently dived into a discussion about the relationship between Bitcoin’s price and inflation , specifically how the United States (US) inflation affects the value of the cryptocurrency over time. The analyst argues that by 2025, Bitcoin’s nominal price could reach $100,000 due to inflation. However, the extent of this price rally would barely reach levels seen in 2021.  Before making his $100,000 bullish forecast , Broyles predicted that Bitcoin could rise to $65,000 soon. He compared his projected price leap to Bitcoin’s price all-time high in 2021, which was above $69,000. ...

On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) Ratio of the short-term holders is currently making a retest that could prove significant for BTC’s price. Bitcoin STH MVRV Ratio Is Retesting Its 155-Day MA Right Now As explained by on-chain analyst Checkmate in a new post on X, the short-term holder MVRV Ratio breaking above its 155-day moving average (MA) could lead to bullish action for Bitcoin. The MVRV Ratio is a popular indicator that, in short, keeps track of how the value held by the BTC investors as a whole (that is, the market cap) compares against the value that they initially put in (the realized cap). When the value of this metric is greater than 1, it means the average address on the network can be assumed to be holding a net profit right now. On the other hand, it being under the threshold suggests the dominance of loss in the market. In the context of the current topic, the MVRV Ratio of only a specific segment of the sector is of interest: th...

Some top coins of Solana, Bitcoin, and even Ethereum are edging higher. However, while holders are barely up double digits over the past week, a meme coin trader on Solana is swimming in profits at spot rates. MooDeng Trader Turns $800 To $1.3 Million According to Arkham, a blockchain intelligence platform, the trader, who got in early, scooping $800 worth of MooDeng, a meme coin in Solana, has seen the investment swell to over $1.3 million roughly two weeks after buying.   Related Reading: Analyst Warns Of Short Squeeze as Bitcoin Futures Market Heats Up The address, also the largest holder of the MoonDeng meme coin, had already seen the initial investment soar by over 500X by September 17, rising to nearly $400,000. However, a week later, that same investment is up, rising to $1.3 million on September 24. A glance at MooDeng’s price action shows that the token is inching higher. Notably, this superb performance coincides with a sharp change in fundamental factors foll...