Blockchain
Get the latest news and information on the future of blockchain and crypto, including price predictions from analysts perspectives for the major coins.
Blockchain News from CoinTelegram
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Eric Trump said that the new administration led by his father will create transparent and sensible regulation for the crypto industry. |
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Web3 identity and rewards platform Galxe unveiled an EVM upgrade and a $50 million ecosystem to support projects building on its network. |
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Max Resnick became increasingly critical of Ethereum’s layer-2 scaling approach in recent months, suggesting it should have focused its scaling efforts on the base layer like Solana. |
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Google unveils new quantum computing chip: Clock ticking for crypto encryption? One expert says while Willow is a significant development, it’s still far short of being a threat to crypto encryption, at least for now. |
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A newly launched platform dubbed goose.run lets users lend and borrow against memecoins, its team told Cointelegraph. |
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The unofficial US head of government efficiency has declared himself a volunteer IT consultant for the Trump administration. |
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Total value locked on decentralized finance protocols is up nearly 150% so far this year. |
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Trump follows through on crypto promise, SEC pushes back against Binance: Law Decoded Donald Trump has nominated Paul Atkins, a pro-crypto former SEC commissioner, to replace Gary Gensler as SEC chair. |
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World’s seemingly playful jab at Spotify comes as the firm faces scrutiny. |
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Core DAO’s Adam Bendjemil highlighted Bitcoin-based DeFi’s potential at Bitcoin MENA 2024, highlighting security-first blockchain innovation. |
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Move-based blockchains continue to attract developers due to the expressiveness and unique architecture of the Move programming language. |
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More than 7% of Australian fintechs closed in 2024, with blockchain firms leading the decline, a KPMG report revealed. |
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Radiant Capital says North Korea posed as ex-contractor to carry out $50M hack A North Korean threat actor was behind the $50 million attack on Radiant Capital in October and spoofed being an ex-contractor, the DeFi platform said. |
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The Cardano Foundation joined a long list of entities falling victim to X account hacks. |
Blockchain.News
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Riot Platforms announces a $525 million offering of 0.75% convertible senior notes due 2030, aimed at bolstering Bitcoin acquisitions and general corporate purposes. (Read More) |
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Bitfarms Ltd. will restate its financial statements for 2022 and 2023 after identifying a material error in the classification of digital asset sale proceeds. (Read More) |
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BitMEX introduces the MOVEUSDT perpetual swap, allowing traders to long or short MOVE with up to 50x leverage starting December 10, 2024. (Read More) |
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BitMEX has announced the listing of new quarterly futures contracts for Q1 2025, effective from December 10, 2024, enhancing trading options for its users. (Read More) |
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BitMEX is set to launch MOVEUSDT perpetual swaps, offering up to 50x leverage. This new feature allows users to long or short MOVE, the native token of Movement. (Read More) |
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OVERTAKE GameFest Launches Somnis Quest on Immutable (IMX) for Play-to-Earn Enthusiasts OVERTAKE GameFest introduces Somnis: Rumble Rush Quest, offering players the chance to earn rewards through strategic gameplay on Immutable (IMX). Discover the latest in play-to-earn gaming. (Read More) |
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NexBridge, a digital asset issuer in El Salvador, successfully raises $30 million through USTBL, a tokenized US Treasury Bill offering, marking a milestone in the tokenization of real-world assets. (Read More) |
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LangSmith, a platform for AI application monitoring, now supports OpenTelemetry, allowing developers to gain comprehensive insights into application performance with improved distributed tracing capabilities. (Read More) |
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BounceBit is pioneering a new financial paradigm by integrating Real-World Assets into CeDeFi, aiming to create a dual-yield ecosystem that merges traditional and crypto finance. (Read More) |
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NVIDIA's QUEEN AI model enhances free-viewpoint video streaming, offering immersive experiences and efficient scene reconstruction, suitable for various applications including sports, education, and industrial use. (Read More) |
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USDT's widespread adoption is evident with 330 million on-chain wallets by Q3 2024, highlighting its role as a key player in the digital asset landscape, especially in emerging markets. (Read More) |
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Bitcoin recently breached the $100,000 mark, reaching a high of $104,000 before a sharp correction. Market indicators suggest possible stabilization despite recent fluctuations. (Read More) |
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AMD introduces Nitro Diffusion models, showcasing advanced AI image generation capabilities with high efficiency. The models leverage AMD Instinct MI250 accelerators for training and edge deployment. (Read More) |
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BitMEX has announced the listing of new quarterly futures for Q1 2025, set to go live on December 10, 2024, at 04:00 UTC. (Read More) |
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Riot Platforms, Inc. announces a proposed private offering of $500 million in convertible senior notes due 2030, aiming to enhance its Bitcoin holdings and support corporate initiatives. (Read More) |
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CarbonFi leverages BNB Chain to transform carbon credit markets with blockchain technology, offering transparency, security, and global connectivity. Discover its innovative approach and ambitious roadmap. (Read More) |
Blockchain - Hacker Moon
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The GIGATONS Group is thrilled to introduce GIGATECH, its groundbreaking technology division dedicated to leveraging web3 innovations to address sustainability challenges by accelerating the measurement and reduction of gigatons of carbon emissions as swiftly as possible.Read All |
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Transak Records 400% Surge in Solana Transactions Following Phantom Integration Transak's integration with the Phantom wallet has led to a surge in transaction volumes on the Solana network. Data shows a 400% increase in Solana (SOL) transactions through Transak within seven weeks of the integration.Read All |
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OpenBazaar 3.0 is expected to embody the ideals of decentralization. The software is designed to leverage Bitcoin within a transactional framework built on Tor and a decentralized architecture.Read All |
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Gnosis uses the Arbitrary Message Bridge to send messages between two blockchains. The AMB is a system composed of smart contracts and external validators. Read All |
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HyperRing introduced its second-generation payment ring on December 4. The device functions without batteries and processes transactions through NFC technology. Users can make purchases in North America, Europe, Asia, the Middle East, North Africa, and South America.Read All |
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What's the best way to scale onchain? Building for scale helps get your product or service in front of more people. The counterpoint is that onchain products should be built for specific niche audiences.Read All |
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Blockchain is a digital database that stores transactions and data in a decentralized, secure, and transparent way. It uses cryptographic techniques to protect data from unauthorized access. Some of the features of the blockchain include the use of the state of the network to ensure privacy.Read All |
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Blockchain bridges are used to transfer digital assets from one network to another. They are susceptible to hacks and are usually perceived as constituting a single point of failure. Users grapple with poor or complex user interfaces, high operation fees.Read All |
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Serenity and IDEMIA Introduce sAxess Biometric Card for Enhanced Digital Security sAxess, a biometric security card, is designed to improve data access control and provide a scalable solution for managing complex digital assets. The collaboration merges Serenity's expertise in blockchain technology with IDEMIA Secure Transactions' extensive experience in payment and connectivity solutions. The s Axess biometric card is set to be rolled out globally before the end of the year.Read All |
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DIA has announced the testnet launch of Lasernet, an oracle infrastructure rollup. By moving oracle computation on-chain, Lasernets seeks to enhance data verifiability and scalability without compromising security. The testnet serves as a platform for builders to explore the capabilities of this new oracle solution.Read All |
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Web3 Just Got Greener: Meet GGEZ1, the Blockchain Betting Big on Sustainability The GGEZ1 Whitepaper presents a transformative vision for the future of global finance, centered around Regenerative Finance (ReFi) principles and the tokenization of sustainability infrastructure. Read All |
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Real World Assets (RWA) Base Camp Accelerator program selects seven teams. The 12-week virtual program aims to support early-stage founders building solutions for RWA adoption across industries. RWA tokenization is projected to grow from $118 billion to $10 trillion by 2030.Read All |
Blockchain - NewsBTC
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Since Donald Trump became president-elect a little more than a month ago, roughly $10 billion has flooded into US spot Bitcoin ETFs, showing growing optimism that his administration will support the cryptocurrency industry. According to Bloomberg, a dozen funds from big issuers including BlackRock and Fidelity Investments have received around $9.9 billion in net inflows into their various Bitcoin ETFs since November 5, bringing their total assets to around $113 billion. Trump’s Appointments Signal Shift To Pro-Crypto Regulation Trump’s recent selections, such as a digital asset champion to lead the US Securities and Exchange Commission (SEC) and the creation of a White House czar for artificial intelligence and crypto, indicate a shift toward a more friendly regulatory climate. Notably, Trump has praised the concept of establishing a national Bitcoin reserve, which is gaining bipartisan support in Congress, with pro-crypto Senator Cynthia Lummis at the lead. Related Reading: XRP Skeptic Turned Believer? Critic Hails XRP As Crypto’s Chart King Bitcoin recently surpassed the $100,000 mark for the first time on December 5, trading at around $96,898 as of Monday. The cryptocurrency’s six-week winning streak is the longest since the market frenzy of 2021, but analysts remain concerned about volatility. David Lawant, head of research at crypto premier broker FalconX, noted that a sustained push above the $100,000 milestone will most likely necessitate other positive catalysts, as BTC has struggled to recapture this level while stabilizing after the advance over the last four days. Bitcoin Rally Boosts MicroStrategy And Peers Bloomberg also notes that the positive atmosphere surrounding cryptocurrencies has resulted in a substantial rebound among companies that have followed MicroStrategy’s strategy of selling convertible bonds to fund Bitcoin purchases. MicroStrategy alone sold $6.2 billion in convertibles this year and intends to raise an additional $21 billion through fixed-income offerings. Other companies, including MARA Holdings and Core Scientific, have successfully obtained significant funds to support their Bitcoin acquisitions. MicroStrategy’s stock, MSTR, has risen 73% since Donald Trump’s election, while MARA, Riot Platforms, and Core Scientific’s shares have increased by 63%, 33%, and 30%, respectively. This trend closely resembles Bitcoin’s nearly 40% growth within the same period. With a market capitalization approaching $2 trillion, Bitcoin’s recent ascent has dramatically increased MicroStrategy’s assets, which are now worth more than $41 billion. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next The terms of recent crypto-related convertible deals stand out, particularly because many are structured with zero coupons, allowing investors to engage in convertible arbitrage. Despite the high demand for these instruments, there appears to be little anxiety about prospective Bitcoin price decreases. Raj Imteaz, head of convertible and equity derivatives advisory at ICR Capital LLC, noted that larger players in the market feel compelled to issue convertibles to remain competitive. “If your competitor has a large war chest funded at very low coupons and you haven’t tapped the market, you’re at a competitive disadvantage,” he said. “You almost have to issue converts to stay competitive within crypto.” Featured image from DALL-E, chart from TradingView.com |
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Bitcoin (BTC) closed the week above the $100,000 mark for the first time in history, concluding the crypto’s massive week with another milestone. However, a market watcher has warned investors that historical patterns could soon lead the flagship crypto to a big correction. Related Reading: XRP Slides After Failing To Reclaim $2.9, What’s Next For Bulls? Bitcoin First Weekly Close Above $100,000 Bitcoin hit the $100,000 milestone nearly a week ago, passing the psychological barrier for the first time. After its massive feat, the largest crypto by market capitalization faced its largest retrace since Trump’s victory in the US presidential elections. BTC briefly dropped around 13% to the $90,000 mark in a candle that resembled its performance when it first hit the $10,000 barrier. Since then, the cryptocurrency has hovered between the $97,000-$101,000 prince range, facing some resistance to breaking past the range’s upper zone. As reported by NewsBTC, crypto analyst Jelle noted that BTC could follow the same path as its post-$10,000 milestone trajectory, turning the newly crossed level into support after three days, like it did in November 2017. After hovering between its new range for four days, Bitcoin registered its first daily close above $100,000 on Sunday. This performance also marked its first weekly close above this barrier, displaying a similar weekly performance to the $10,000 candle. Crypto analyst Rekt Capital highlighted that BTC’s daily close above this mark and Monday’s 2.5% pullback is “technically a retest” of this level. However, the ongoing retest is very volatile, and it has been simultaneously attempting to turn the “final major daily resistance,” around the $98,000 zone, into support for the past two days. The analyst added, “a volatile retest like this makes sense, especially weekly.” He explained that the $98,000 level was broken as resistance on the weekly chart after yesterday’s close, meaning that “this week is all about trying to reclaim this level as new support.” Will The Next Few Weeks Be ‘Problematic’ For BTC? Despite breaking past the crucial barrier, Rekt Capital warned investors of BTC’s upcoming week of its post-halving “Parabolic Upside Phase.” The analyst previously explained that Bitcoin enters a parabolic period that lasts around 300 days each cycle after every Halving event. Historically, BTC’s price registers the first major pullback a month after entering price discovery mode. According to the analyst, the first “Price Discovery Correction” historically begins between Weeks 6 and 8 of each parabolic phase, seeing at least 25% retraces. Rekt Capital pointed out that today starts the sixth week of this post-halving upside phase, emphasizing that BTC is the timeframe where its price has retraced significantly. Based on this, Bitcoin’s price could nosedive between 25% and 40% in the next few weeks, like in 2017. Related Reading: Bitcoin Is ‘Highly Likely’ In A Supercycle: Expert Explains Why The analyst warned investors that the current retest of the $98,000 level is key, as failing to hold it could kickstart the first major correction: As a result, over the next 3 weeks or so, I am going to be increasingly cautious about retest attempts, and given BTC’s history at this point in the cycle, I wouldn’t be surprised to see key levels get invalidated. Nonetheless, he stated that “the Second Price Discovery Uptrend will take place after the Price Discovery Correction,” which could propel BTC to a new ATH. At the time of writing, Bitcoin is trading at $98,073, a 2% drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com |
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On-chain data shows that long-term Bitcoin holders have been selling recently as their profits have ballooned to notable levels after the price surge. Bitcoin Long-Term Holders Have Been In Huge Profits Recently As CryptoQuant community analyst Maartunn explained in a new post on X, the long-term holders have sold big in the past month. The “long-term holders” (LTHs) refer to the Bitcoin investors who have been holding onto their coins for more than 155 days. This cohort includes the most relentless hands of the market, who rarely sell regardless of whether a rally or crash is going on. These investors are in sharp contrast to the “short-term holders” (STHs), who generally react to any happening in the sector. Related Reading: Analyst Sets $4.40 XRP Target As 3rd-Straight Bull Pennant Forms As such, the times that the LTHs decide to sell can be to watch out for since it means the market is at a stage where even these diamond hands have become tempted to part with their long-held coins. Bitcoin is currently experiencing one such instance, as the bull run to unseen highs has forced some LTHs into harvesting their hard-earned profits. Below is the chart shared by the analyst that shows the trend in the 30-day change for the LTH supply. As displayed in the graph, the Bitcoin LTH supply has registered a large negative change during the past month, which suggests these HODLers have broken their silence. In total, the diamond hands have transferred 827,783 BTC in this window. Naturally, not all transactions correspond to selling, but generally, there is a high chance of selling being the intent whenever the LTHs move their coins. The reason behind the LTH selloff becomes apparent when considering the group’s profit-loss margin. As CryptoQuant author Axel Adler Jr pointed out in an X post, the group is sitting on average profits of 326%. From the chart, it’s visible that while the profits of the Bitcoin LTHs are high on their own, they are still considerably less than the margin during the 2021 bull run. Related Reading: Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations This, of course, doesn’t mean that the current rally also has as much room left to go, as it’s very possible that this cycle would simply net these diamond hands fewer gains than last time. While the LTHs have been spending significant amounts recently, Bitcoin hasn’t budged too much, which implies considerable new demand is still flowing into the sector that is absorbing this selling pressure. However, It remains to be seen how long this balance will be maintained. BTC Price Bitcoin had shown a brief break out of its consolidation phase earlier in the month, but it would appear the asset has found its way back into the range as its price is now trading around $98,200. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com |
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Dogecoin started a sharp downside correction below the $0.400 support against the US Dollar. DOGE is trading near the $0.3750 support and might bounce back. DOGE price started a fresh decline below the $0.420 level. The price is trading below the $0.40 level and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.4260 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could start another rally if it clears the $0.420 and $0.4250 resistance levels. Dogecoin Price Dips To Support Dogecoin price started a fresh decline from well above $0.440 like Bitcoin and Ethereum. DOGE traded below the $0.4120 and $0.400 support levels. It even spiked below $0.3880. A low was formed at $0.3749 and the price is now consolidating losses. It recovered some points and climbed above $0.3850. It tested the 23.6% Fib retracement level of the downward move from the $0.4777 swing high to the $0.3749 low. Dogecoin price is now trading below the $0.4250 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.4080 level. The first major resistance for the bulls could be near the $0.4250 level. There is also a connecting bearish trend line forming with resistance at $0.4260 on the hourly chart of the DOGE/USD pair. It is close to the 50% Fib retracement level of the downward move from the $0.4777 swing high to the $0.3749 low. The next major resistance is near the $0.4550 level. A close above the $0.4550 resistance might send the price toward the $0.4650 resistance. Any more gains might send the price toward the $0.5000 level. The next major stop for the bulls might be $0.5200. More Losses In DOGE? If DOGE’s price fails to climb above the $0.4250 level, it could start another decline. Initial support on the downside is near the $0.3880 level. The next major support is near the $0.3750 level. The main support sits at $0.3650. If there is a downside break below the $0.3650 support, the price could decline further. In the stated case, the price might decline toward the $0.3420 level or even $0.3250 in the near term. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.3880 and $0.3750. Major Resistance Levels – $0.4080 and $0.4250. |
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So far, the Bitcoin market continues to demonstrate resilience as it maintains its price above the $90,000 price market despite various factors influencing its price movements. Amid this, a CryptoQuant analyst, aytekin466, recently shared insights into whether the cryptocurrency could face another significant price correction. Related Reading: Bitcoin Is ‘Highly Likely’ In A Supercycle: Expert Explains Why Are Major Corrections a Thing of the Past? aytekin disclosed that with Bitcoin experiencing a maximum decline of 30% in its current cycle — notably during the “carry trade shock” in August — this marks a milder drawdown than previous cycles. According to the analyst, the increasing presence of ETFs has contributed to stabilizing the market by mitigating drastic shakeouts. However, the dynamics surrounding BTC investment remain a careful balancing act. The analyst noted: Waiting for the next big correction to enter the market or add fresh capital might result in being late to the rally. On the other hand, being overly aggressive while the market is surging could be risky. Mentioning that it is better to understand where the market stance is as of now, aytekin highlighted that current metrics, such as a positive Coinbase premium and the cooling off of the Spent Output Profit Ratio (SOPR), suggest a “healthy consolidation phase.” Moreover, funding rates have eased following recent price fluctuations, while miners show no urgency to liquidate their holdings. Stablecoin flows to spot exchanges are also at their highest levels this year, signaling active market participation. aytekin wrote: In conclusion, a correction could happen at any time without a specific reason, but the current situation doesn’t indicate a shift in momentum. Further Growth In Bitcoin Price Expected? Another CryptoQuant analyst, Darkfost, highlighted positive market signals from stablecoin activity and BTC netflows. The Exchange Stablecoin Ratio — comparing Bitcoin reserves on exchanges to stablecoin reserves — is in decline. This trend indicates strong buying pressure as stablecoins for Bitcoin purchases increase while Bitcoin exchange reserves dwindle. In parallel, weekly Bitcoin netflows reveal consistent withdrawals from exchanges, suggesting a sentiment shift toward mid- to long-term holding among investors. These metrics indicate a favorable market environment with strong demand and investor confidence. Related Reading: Bitcoin’s Market at a Crossroads: Are Long-Term Holders Signalling a Correction or a Rally? Notably, the declining exchange stablecoin ratio aligns with a reduction in immediate selling pressure. At the same time, the accumulation of Bitcoin signals that market participants view the current environment as conducive to long-term growth. Darkfost wrote: These combined metrics, lower exchange stablecoin ratios and decreasing Bitcoin reserves, indicate a positive market environment. They highlight that demand remains strong and that investors are demonstrating confidence in Bitcoin’s potential Featured image created with DALL-E, Chart from TradingView |
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XRP price failed to extend gains above the $2.40 zone. The price is down over 10% and might even decline toward the $2.00 support zone. XRP price started a downside correction from the $2.50 resistance zone. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2.26 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.32 resistance. XRP Price Dips Again XRP price failed to start a fresh increase above the $2.50 resistance zone. It started a fresh decline below the $2.35 level like Bitcoin and Ethereum. There was a move below the $2.30 and $2.25 levels. The price even dived below the $2.20 support. A low was formed at $1.989 and the price is now correcting some losses. There was a move above the $2.20 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $2.64 swing high to the $1.98 low. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.20 level. The first major resistance is near the $2.250 level. There is also a connecting bearish trend line forming with resistance at $2.26 on the hourly chart of the XRP/USD pair. The next resistance is at $2.30 or the 50% Fib retracement level of the downward move from the $2.64 swing high to the $1.98 low. A clear move above the $2.30 resistance might send the price toward the $2.350 resistance. Any more gains might send the price toward the $2.40 resistance or even $2.420 in the near term. The next major hurdle for the bulls might be $2.550. More Losses? If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.00 level. If there is a downside break and a close below the $2.00 level, the price might continue to decline toward the $1.880 support. The next major support sits near the $1.750 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.0500 and $2.0000. Major Resistance Levels – $2.2500 and $2.3000. |
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MicroStrategy, the business intelligence firm helmed by co-founder and Chairman Michael Saylor, has made headlines yet again with the announcement of a $2.1 billion Bitcoin (BTC) acquisition. Interestingly, this is the fifth consecutive Monday that the Tysons Corner, Virginia-based corporation has announced major acquisitions of the market’s leading crypto, demonstrating confidence in BTC’s prospects and price appreciation. Microstrategy’s Bitcoin Stash Surpasses Nvidia According to a filing with the US Securities and Exchange Commission (SEC), MicroStrategy purchased 21,550 Bitcoin tokens between December 2 and December 8 for an average price of $98,783 per token. Over the last four years, Saylor and his firm have amassed Bitcoin worth more than $41 billion, a move he undertook to shift the software company’s survival strategy. Saylor said in October that it would fund $42 billion over three years through a combination of at-the-market stock sales and convertible debt offers, bolstering the firm’s BTC acquisition strategy. The rate at which MicroStrategy is accumulating Bitcoin has accelerated substantially in the month since Donald Trump’s election on November 5; it took nearly a year to amass its first 100,000 coins, but just two weeks to grow its holdings from 300,000 to 400,000. This vast Bitcoin stash is now worth more than the cash reserves of computer behemoth Nvidia Corp., as well as nearly all non-financial corporations listed on the S&P 500 Index. Liquidity And Credit Concerns Despite BTC’s bullish outlook, researchers believe MicroStrategy’s method is not risk-free. In four of the last five weeks, the firm has purchased Bitcoin at an average price higher than the average market price, raising questions about the approach’s long-term viability. The company’s stock, MSTR, has increased by more than 500% this year, generating significant interest from investors, while hedge funds have begun to acquire its notes for market-neutral arbitrage methods, capitalizing on Bitcoin’s volatility. However, analysts warn that continued dependence on Bitcoin could be risky. Min Jung, a research analyst at Presto Research, pointed out that while BTC’s rising prices create a positive feedback loop—in which higher stock prices permit more fundraising for further Bitcoin purchases—this cycle is strongly dependent on the crypto’s rise. “If the market turns, the consequences could be severe,” Jung told Bloomberg. A significant drop in Bitcoin’s market value could imperil the company’s financial viability, raising liquidity and credit concerns. Outside of its major enterprise analytics software market, the company’s income creation opportunities would be restricted. Gracy Chen, CEO of cryptocurrency exchange Bitget, expressed these fears, noting that a drop in Bitcoin prices might jeopardize MicroStrategy’s ability to manage its rising debt levels. “The firm’s massive BTC holdings pose a market concentration risk,” Chen explained. “A large-scale sell-off could lead to significant price fluctuations, affecting not just Bitcoin but the wider cryptocurrency ecosystem.” At the time of writing, BTC is trading at $97,700, down 3% in the last 24 hours. Featured image from DALL-E, chart from TradingView.com |
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Ethereum price corrected gains below the $3,880 zone. ETH is now recovering some losses and facing hurdles near the $3,800 resistance zone. Ethereum started a downside correction below $3,880 and $3,800. The price is trading below $3,880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,600 support zone. Ethereum Price Dips Further Ethereum price failed to stay above the $4,000 zone and started a downside correction like Bitcoin. ETH declined below the $3,880 and $3,800 support levels. It even spiked below $3,600. A low was formed at $3,488 and the price is now recovering some losses. It climbed above the $3,550 and $3,620 levels. The price surpassed the $3,700 level and tested the 50% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low. Ethereum price is now trading below $3,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,780 level. The first major resistance is near the $3,800 level. There is also a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low. The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120. More Losses In ETH? If Ethereum fails to clear the $3,780 resistance, it could start another decline. Initial support on the downside is near the $3,620 level. The first major support sits near the $3,560 zone. A clear move below the $3,560 support might push the price toward the $3,480 support. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,250. 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 – $3,620 Major Resistance Level – $3,880 |
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Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone. The price is trading below $98,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $98,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could regain momentum if it closes above the $98,800 resistance zone. Bitcoin Price Takes Hit Bitcoin price failed to gain pace above the $100,000 level. BTC started another downside correction and traded below the $98,000 level. There was a move below the $96,500 support. The price even spiked below $95,000. A low was formed at $94,140 and the price started a recovery wave. There was a move above the $96,500 level. The price climbed above the 50% Fib retracement level of the downward wave from the $100,432 swing high to the $94,140 low. Bitcoin price is now trading below $100,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $98,000 level. It is close to the 61.8% Fib retracement level of the downward wave from the $100,432 swing high to the $94,140 low. The first key resistance is near the $98,800 level. There is also a connecting bearish trend line forming with resistance at $98,800 on the hourly chart of the BTC/USD pair. A clear move above the $98,800 resistance might send the price higher. The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $104,200 resistance level. Any more gains might send the price toward the $108,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $98,800 resistance zone, it could start another downside correction. Immediate support on the downside is near the $96,500 level. The first major support is near the $95,500 level. The next support is now near the $94,200 zone. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $96,500, followed by $95,500. Major Resistance Levels – $98,000, and $98,800. |
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Ethereum (ETH) continues to hover around the critical $4,000 resistance level, a price point many believe could determine the cryptocurrency’s next major move. However, a strong weekly close has sparked optimism among analysts, suggesting that ETH could be on track to reach a new all-time high (ATH) soon. Ethereum Heading To New ATH? Experts Weigh In While cryptocurrencies like Bitcoin (BTC), Solana (SOL), and XRP have experienced explosive growth this year, ETH’s price momentum has been relatively subdued. According to CoinGecko, Ethereum has recorded gains of 62% over the past year, falling short compared to other trending digital assets. Related Reading: Analyst Confirms Ethereum Golden Cross As ETH Surges Past $4,000 – Is Altseason In Sight? However, ETH’s performance relative to other cryptocurrencies has not deterred ETH bulls from aiming for new ATHs for the cryptocurrency. For instance, seasoned crypto analyst Pentoshi recently took to X to explain the significance of ETH’s “structural changes” and the consistently large inflows attracted by spot ETH exchange-traded funds (ETFs). Pentoshi noted that Ethereum has not only recorded a higher high on the weekly chart, but also had its highest weekly close of the year. The analyst added that, given its current price of slightly below $4,000, there is not much resistance to ATH, which “should act as a magnet” for further gains. Another crypto analyst, @CryptoPoseidonn highlighted that ETH is set to break out of its “4-year, 1,460-day range to the upside.” In a chart, the analyst marked out the different Fibonacci extension levels to identify potential price targets for ETH. According to the chart, ETH can rise to $6,000 at the 1.272 extension level, $7,400 at the 1.618 extension level, and $11,400 at the 2.618 extension level. ETH can rise “much higher, far beyond your worst nightmares,” the analyst added. In a shorter time frame, Satoshi Flipper, another well-known analyst, emphasized that ETH attempts to break through an ascending channel in the 4-hour chart. He suggested that the current price, sitting on diagonal channel support, might present a “nice entry” point, predicting that the next impulsive move could take ETH to $4,400. ETH Bulls Cautiously Optimistic Although there is high anticipation for a new ETH ATH, some experts opine that there may still be a few hurdles before the digital asset records a new ATH price. For instance, ETH crossing the $4,000 level may lead to increased risks of profit-taking, potentially resulting in a short-term correction. Related Reading: Ethereum Risk-Reward Ratio Is Now Attractive, Brokerage Firm Explains However, Ethereum’s fundamentals remain robust, adding to its bullish outlook. For instance, ETH active addresses and large value transactions have shown an uptick, reflecting increased on-chain activity during the recent rally. Additionally, some analysts believe ETH could follow a trajectory similar to Bitcoin’s 2021 bull run, with the potential to reach $10,000. ETH trades at $3,847 at press time, down 3.9% in the past 24 hours. Featured image from Unsplash, charts from X and Tradingview.com |