The post No Sell-off Needed? Bitcoin Whales Buy Big While Old Holders Stay Put appeared first on Coinpedia Fintech News

Despite bearish market sentiment for Bitcoin (BTC), the world’s biggest cryptocurrency by market cap, it seems that this trend may not last for long. On September 17, 2024, the crypto analytic firm CryptoQuant shared a post on X (previously Twitter) indicating that new whales and Binance traders are actively capitalizing on the current market sentiment by significantly buying the dip.

Whales Buying the Bitcoin Dip

The post on X also noted that the old whales continue to hold their BTC. This market sentiment and current whale activity signal market stability and potential price growth in the coming days.

Source: CryptoQuant (X)

However, if we look at the recent whale transactions, it appears that whales are showing strong interest in buying Bitcoin. On September 16, 2024, First Digital Lab transferred nearly $80 million FDUSD to Binance, potentially to buy Bitcoin. If this happens, we may see a significant price rally. 

2 hours ago, #First_Digital_Lab transferred 79.94M $FDUSD to #Binance.Last month, the same thing happened with 145.5M $FDUSD and $BTC increased 6.7% from $60k to $64k.Address:https://t.co/4lWVtdH05h pic.twitter.com/wMolLk6ceN

— The Data Nerd (@OnchainDataNerd) September 16, 2024

The last time the firm moved a significant $145.5 million  FDUSD to Binance, the BTC price experienced a price jump of over 6.7% from $60,000 to $64,000. 

Current Price Momentum

As of now, Bitcoin is trading near $57,800 and has experienced a price decline of over 3% in the last 24 hours. During the same period, its trading volume has skyrocketed by 125%, according to Coinmarketcap data. This rising trading volume signals higher participation from investors and traders amid the price decline.

Bitcoin Technical Analysis and Key Levels

According to expert technical analysis, BTC is at a crucial support level of $57,500 and is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. The 200 EMA indicates whether an asset is in an uptrend or downtrend. 

Source: Trading View

Based on the historical price momentum, if BTC closes its daily candle below the $57,000 level, there is a high possibility it could fall by another 5% to the $54,000 level in the coming days.

However, the BTC’s open interest has declined by 2%, indicating that traders are either liquidating their positions or hesitating to build new positions due to high volatility.

#US presidential candidate #donaldtrump is launching a DeFi project while running his election campaign. Trump will explain the details of the project he is advancing with his sons tonight at 00:00 on X.
US presidential candidate Donald Trump will announce the details of the DeFi project called World Liberty Financial in a few hours. It will be broadcast on X at 00:00 UTC time, and unanswered questions about the project will be answered.
On the other hand, there are some ways to go. The project is likely to be a decentralized crypto lending platform. World Liberty Financial is expected to offer a system where owners can lock their assets and bring them. The official channels of the project frequently refer to stablecoins, and it is emphasized that stablecoins will be operated worldwide based on this.
Other information that has emerged shows that World Liberty Financial has also increased a token called WLFI. This token will be offered with a pre-sale. It is planned to obtain 537 million works from the sales. Allegedly, there are strong elements between World Liberty Financial and another DeFi project, Dough Finance. It was determined that team parts of World Liberty Financial, especially Chase Hero, were involved in Dough Finance. Dough Finance experienced a hack in July, in which 2.1 million crypto pieces were stolen.
Some important figures in the crypto industry are on the permanent advisory staff. Sandy Peng, co-founder of Scroll, one of the leading L2 networks, as well as Luke Pearson, a friend of Polychain Capital, a crypto-focused and large investment, are among the team members.
World Liberty Financial was first announced in August by Trump's sons Eric Trump and Donald Trump Jr., saying, "We are coming to shake up the crypto world." It was learned that Trump's youngest son Barron was also involved in the project.
#BTC #binance #elonmusk

Bitcoin’s price is still consolidating around the $60K level. Yet, an impulsive move might begin soon.

Technical Analysis

By Edris Derakhshi (TradingRage)

The Daily Chart

On the daily timeframe, it is evident that the price has yet to climb back and recover definitively above the $60K level after its rapid rejection and drop from the 200-day moving average, located around $63K.

Following the recent rebound from the $52,500 level, the price has once again tested the pivotal range. This is important because for the market to begin a new rally, both $60K and the 200-day moving average should be broken to the upside first.

Source: TradingView The 4-Hour Chart

Looking at the 4-hour chart, the price is in a critical area, as it is testing a bullish trendline which has been respected for the last couple of weeks.

If the trendline holds, a rise above the $60K level would be highly probable. However, a breakdown of this range could result in a drop toward $57K and even the $53K area in the coming weeks.

Source: TradingView On-Chain Analysis

By Edris Derakhshi (TradingRage)

Bitcoin Funding Rates

The futures market has played a significant role in determining the short-term price action of Bitcoin over the last few years. Therefore, analyzing its sentiment can be highly beneficial.

This chart demonstrates the Bitcoin funding rates metric, which measures whether the buyers or the sellers are more dominant in the futures market. Positive values indicate bullish sentiment, while negative funding rates are associated with fear and bearish sentiment.

As evident on the chart, the rates have decreased significantly during the recent price consolidation and correction, as many futures traders have either been liquidated or shifted their views on the market and are now on the sell side.

While this is a clear bearish sentiment signal, it can also mean that the market is no longer overheated, and with sufficient spot buying pressure, a sustainable rally can begin soon.

Source: CryptoQuant

The post Bitcoin Price Analysis: BTC Dips to $58K in Anticipation of This Week’s Fed Rate Decission appeared first on CryptoPotato.

Some people wondering how many $HMSTR tokens you'll earn? What will be price of 1 coin ? 🤔 It’s simple! 💡 For every 1,000 PPH you own, you’ll get 1 $HMSTR. Jot fixed but probably 1 $HMSTR = 0.015$ 🎯
✨ Base Reward: You’ll receive 1 $HMSTR for every 1,000 PPH you hold.
📊 Example: If you have 1M PPH, that translates to 1,000 $HMSTR tokens.
💥 Potential Bonus: You can boost your earnings 🎉 through additional methods like participating in the Earn Section, completing Achievements, unlocking Keys, and inviting others. 🔑👥
💰 Price Range Estimate: It’s predicted that the price of $HMSTR will range between $0.01 to $0.10. 📈
🔍 Let’s break it down:
1M PPH = 1,000 $HMSTR
📉 Minimum earnings: 1,000 HMSTR × $0.03= $30
📈 Maximum earnings: 1,000 HMSTR × $0.10 = $100
⚠️ Remember, these are just estimates and not yet official. Always #DYOR (Do Your Own Research) 🧠 to stay informed!
🔔 For more insights and updates, don’t forget to follow along! 👀
#BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #BinanceTurns7

The FBI says it is investigating an incident involving a gunman at former US President Donald Trump’s golf course in Florida as an apparent “attempted assassination”.
Trump, the Republican presidential nominee, says he is “safe and well” after gunshots were fired in his vicinity in West Palm Beach, Florida.
Law enforcement officials say agents spotted a gunman with a rifle at the golf course, fired at him and eventually took him into custody after he tried to flee.
US President Joe Biden says he and Vice President Kamala Harris are “relieved” that Trump was not hurt in the incident, as politicians across the country denounce political violence.
The FBI says it is treating an incident at Trump’s golf course as an apparent “assassination attempt” against the former president.
Trump was unharmed in the incident.
A gunman was spotted on the outskirts of the course in the vicinity of Trump, according to law enforcement officials. A Secret Service agent fired at the man, who fled in a vehicle and was later arrested.
US media outlets have identified the suspect as Ryan Wesley Routh. It was not immediately clear if he fired any shots.
The incident comes just two months after Trump survived an assassination attempt at a rally in Pennsylvania.
‘We need to know why this keeps happening’: Trump ally
Right-wing Congressman Matt Gaetz has questioned why Trump was targeted for the second time in a few months.
“We need to know why this keeps happening,” Gaetz wrote in a social media post.
Trump says his resolve is ‘stronger’
In a text message to supporters soliciting campaign donations, Trump says: “MY RESOLVE IS STRONGER AFTER ANOTHER ATTEMPT ON MY LIFE!”
“Thank you for your support. UNITY. PEACE. MAGA,” he added, referring to his campaign slogan, Make America Great Again.
It brings the drop for crypto and Bitcoin and rightly so.
$BTC

The post Second Assassination Attempt on Trump Causes Bitcoin to Drop appeared first on Coinpedia Fintech News

Former President Donald Trump faces a second assassination attempt on September 15. The Republican presidential candidate was playing golf at his West Palm Beach course when this incident took place. The suspect has been arrested and Trump is unharmed. However, this attempt has sent shockwaves to the crypto market causing BTC to plummet.

Shots Were Fired

The incident happened around 1 PM EST. Secret Service agents spotted a man armed with an AK-47 style rifle. He was hiding in the bushes near the property. The agents opened fire that forced the suspect to flee in his Black SUV. Authorities found two backpacks and a GoPro camera near the fence along with the rifle. The suspect was later identified as 58 year old Ryan Wesley Routh. He escaped but couldn’t get far. A quick thinking witness took a photo of his vehicle license plate. This helped the police to locate and arrest him on interstate 95.

Bitcoin Takes a Hit

The News of assassination attempt not only shook the political world but the crypto market as well. The price of Bitcoin dropped around 3% from $60,313 to $58,627.

This decline triggered a wave of liquidations worth $116.52 million, with most of it ($106.52 million) coming from long trades. In the last 24 hours, market chaos increased as liquidations hit 49,351 traders.

Trump’s stance on making the U.S. a hub for cryptocurrency caused this sharp decline. Many in the crypto community expect him to create better regulations and a nurturing environment for the space.

Authorities React

The FBI is treating the incident as an “attempted assassination.” Homeland Security Secretary Alejandro Mayorkas praised the quick action of the Secret Service, saying it likely prevented a major tragedy. He emphasized that protecting presidential candidates remains a top priority.

I commend the Secret Service for its quick action to preempt this apparent assassination attempt and protect the former President. We condemn violence against public officials and candidates. (1/2)

— Secretary Alejandro Mayorkas (@SecMayorkas) September 16, 2024

Political Leaders Condemn Violence

I have been briefed on reports of gunshots fired near former President Trump and his property in Florida, and I am glad he is safe. Violence has no place in America.

— Vice President Kamala Harris (@VP) September 15, 2024

President Joe Biden and Vice President Kamala Harris expressed relief that Trump was unharmed. Both strongly condemned the violence, with leaders from across the political spectrum calling for an end to such attacks.

Over the past month or so, Bitcoin has fallen while the Nasdaq and S&P 500 have gained. Will the bulls be back after the spigots turn up the overnight cash markets?

Bitcoin is down by 6% over the 30 days ending Friday, Sept. 13, while the Nasdaq Composite is up 3.7% for the month’s trades and the benchmark S&P 500 Index is up 4% over the same period.

So what gives with Bitcoin?

Is Wall Street putting bearish selling pressure on crypto prices with outflows from the Bitcoin ETFs and going shopping with the money for NVDA, TSMC, and ASML to just bet on the chips and let Reddit users figure the rest out?

Are Bitcoin miners selling to keep up with rising industrial electricity costs since April?

Goldman Sachs Economist: 25 – 50 Basis Pt Cut

“I wouldn’t rule out 50 basis points, but 25 basis points strikes me as more likely,” said Goldman Sachs chief economist Jan Hatzius on Monday.” “I think there is a solid rationale for doing [a 50 basis point cut]. And the rationale is that five and three-eighths, five and a quarter to 5.5% is a really high fed funds rate. It’s the highest policy rate in the G10.”

Hatzius added the US has seen more progress on inflation than most of the G10.

Will Bitcoin’s Price Go Up When The Fed Cuts Rates?

Past results don’t guarantee future performance, but history does tend to repeat and winners tend to win again. The US benchmark interest rate is a macro tide that raises big boats like hot Wall Street stocks and Bitcoin’s decentralized Internet economy.

Past low-rate macro environments have correlated with massive Bitcoin gains. The period of most stellar ROIs for BTC holders was during the 2010s when rates were low before the line for BTC begins on the graph below.

When rates dropped to zero in 2020, Bitcoin’s price surged nearly 8x to record highs. As the Fed walked the rate up, Bitcoin settled back down to 2x its pre-pandemic level. By late 2023, the Fed simply stopped raising rates and BTC went berserk.

Now there’s the crypto news cycle that was a big part of that, with years of anticipation for a Bitcoin ETF starting to gel around that time. But the multi-month correlations to monetary policy is tight and in accordance with economic supply and demand theory.

Bitcoin and Fed Effective Funds Rate | Trading View:

Three past Bitcoin four-year supply cycles saw enormous rallies with peak prices 12 – 18 mos. after the halving. The most recent Bitcoin halving took place on April 19.

The post Goldman Economist Eyes 0.25 Fed Cut: Will Bitcoin Catch The Wave? appeared first on CryptoPotato.

Wondering how many $HMSTR tokens you'll earn? It’s simple! For every 1,000 PPH you own, you’ll get 1 $HMSTR.

Base Reward: You’ll receive 1 $HMSTR for every 1,000 PPH you hold.
For instance, if you have 1M PPH, that translates to 1,000 $HMSTR tokens.
Potential Bonus: You can boost your earnings through additional methods like participating in the Earn Section, completing Achievements, unlocking Keys, and inviting others.
Price Range Estimate: It’s predicted that the price of $HMSTR will range between $0.07 to $0.10.
Let’s break it down:
1M PPH = 1,000 $HMSTRMinimum earnings: 1,000 HMSTR × $0.07 = $70Maximum earnings: 1,000 HMSTR × $0.10 = $100
Remember, these are just estimates and not yet official. Always #DYOR (Do Your Own Research) to stay informed!
For more insights and updates, don’t forget to follow along!

#TelegramCEO #HamsterKombat #Write2Earn!
#BinanceLaunchpoolHMSTR

⚡Contents⚡
💥Hamster Kombat (HMSTR) Price Prediction After Airdrop.
💥How to Increase Your $HMSTR Airdrop Allocation.
💥Conclusion.
The highly anticipated Hamster Kombat (HMSTR) airdrop is officially set for September 26, 2024, after experiencing delays earlier this year. The airdrop will coincide with the token's launch on The Open Network (TON). This event is expected to distribute 60% of the total HMSTR token supply to players of the game, which has become immensely popular on Telegram, with over 300 million players globally. The airdrop allocation will depend on in-game activity and engagement, rewarding the most active participants.
🔥Hamster Kombat (HMSTR) Price Prediction After Airdrop🔥
After the Hamster Kombat (HMSTR) airdrop on September 26, 2024, the token is expected to see an initial price surge. Pre-launch trading has placed the HMSTR token around $0.09, and it could rise to $0.15 or more shortly after the airdrop due to high demand and investor excitement. However, early sell-offs may lead to price corrections, with estimates suggesting the token could stabilize between $0.08 and $0.10 in the short term.
By the end of 2024, if the game's community and adoption continue to grow, analysts predict that HMSTR could climb to $0.50. Factors influencing this price growth include potential listings on major exchanges and the overall market sentiment in the gaming and cryptocurrency sectors.
💥How to Increase Your $HMSTR Airdrop Allocation.💥
*With the $HMSTR airdrop approaching, here are some steps to maximize your chances of earning free tokens:
*Complete Daily Challenges: Participate in the Daily Cipher and Daily Combo to accumulate Hamster Coins, which could influence your airdrop allocation.
*Engage with Mini-Games: Games like Hexa Puzzle help you earn more coins, boosting your eligibility for the airdrop.
*Link Your TON Wallet: Make sure your TON wallet is linked to receive your $HMSTR tokens.
*Referrals: Invite friends to join the game and receive additional coin rewards.
*Social Media Engagement: Stay active on Hamster Kombat’s social channels for bonus rewards. Watch featured YouTube videos to earn an extra 100,000 coins per video.
🔥Conclusion🔥
As the Hamster Kombat $HMSTR airdrop approaches, be sure to participate in daily challenges and mini-games to maximize your earnings and increase your airdrop eligibility. Keep your TON wallet linked, stay informed about the latest updates, and avoid unethical gameplay to ensure your rewards are not compromised.
Stay tuned for more Hamster Kombat news and strategies, and be sure to like & follow this page for regular updates.☺️
#BinanceLaunchpoolHMSTR #BinanceWeb3Wallet #dappSOtheFutureIntents #Write2Earn! #BinanceTurns7
$TON

"The Doji Candlestick: Mastering Market Indecision in Technical Analysis 📉📈"
In the world of technical analysis, candlestick patterns are crucial tools that traders use to interpret market sentiment and predict potential price movements. Among these patterns, the Doji candlestick stands out as one of the most important, signaling indecision in the market. Understanding the Doji pattern can help traders make informed decisions about upcoming trends, whether it's spotting a potential reversal or preparing for consolidation. Let’s break down what the Doji candlestick is and why it’s so influential.
1. What is a Doji Candlestick? 📊
A Doji candlestick forms when the opening and closing prices of an asset are almost equal, creating a very small or nonexistent real body on the chart. The wicks (shadows) of the candle, however, can vary in length. The Doji pattern indicates a balance between buying and selling pressure, where neither bulls nor bears have gained control of the market during that specific trading session.
The Doji can appear in any time frame, from one-minute charts to weekly charts, making it a versatile tool for all types of traders.
2. Types of Doji Candlesticks 🚦
There are several variations of the Doji, each with its own market implications:
Standard Doji: The classic form where the opening and closing prices are identical, reflecting complete indecision.Gravestone Doji: Has a long upper wick and no lower wick, signaling that buyers initially drove the price higher, but sellers took control by the close. Typically a bearish signal at the top of an uptrend.Dragonfly Doji: Features a long lower wick and no upper wick, indicating sellers pushed the price down but buyers brought it back up. Often a bullish signal at the bottom of a downtrend.Long-Legged Doji: Both upper and lower wicks are long, highlighting extreme indecision with significant price movement but little direction.
3. Interpreting the Doji Pattern: A Signal of Indecision 🤔
When a Doji appears on a chart, it’s a clear indication that the market is undecided. Neither buyers nor sellers have managed to dominate the session, which can suggest a potential reversal or continuation of the current trend, depending on the context.
In an Uptrend: A Doji could signal that buyers are losing strength, potentially indicating a trend reversal to the downside. Traders may see this as a chance to exit or prepare for a short position.
In a Downtrend: Conversely, if a Doji forms during a downtrend, it might mean that sellers are losing momentum, and a bullish reversal could be on the horizon.
"Please show some love ❤️❤️ by liking and commenting, it means the world to me 😢😭! And don’t forget to follow for more insights. Your support helps us keep creating valuable content like this!"
4. Doji as a Part of Larger Patterns 🔄
While the Doji on its own can be a powerful signal, it is often most effective when used in conjunction with other patterns. For instance, a Doji forming at the end of a strong trend might be part of a larger reversal pattern, such as the Morning Star (bullish) or the Evening Star (bearish).
Morning Star: A Doji appearing after a bearish candle and before a bullish candle may form this pattern, signaling a strong reversal to the upside.Evening Star: A Doji that appears after a bullish candle and before a bearish candle could form this pattern, indicating a shift to the downside.
5. Limitations of the Doji Candlestick ⚠️
While the Doji is a helpful signal, it should not be relied upon in isolation. Market context, volume, and other indicators should be considered to confirm any potential trend reversal or continuation. False signals can occur, especially in low-volume markets or during periods of high volatility.
Final Thoughts 🎯
The Doji candlestick is one of the most recognizable and insightful patterns in technical analysis. It reflects market indecision, signaling that traders are at a crossroads. Whether it's the potential for a reversal or just a pause in the current trend, the appearance of a Doji should prompt traders to pay closer attention to upcoming price action. When used with other indicators, the Doji can be a powerful tool in your trading strategy.

Bitcoin (BTC) is on track to enter the phase of a real FOMO-driven bull run. The level just below the previous ATH will bring all sellers back rushing for missed profits, analyst Axel Adler says.

Bitcoin (BTC): Real bull run starts at $69,500, expert says

Bitcoin (BTC), the largest cryptocurrency, needs to hit $69,500 to let the proper bull run kick off. This level will activate the "fear of missing out" for those who already sold their BTC in this cycle, CryptoQuant's verified author Axel Adler shared on X today, Sept. 14, 2024.

The bull rally will begin when the price rises above $69.5K, this level will trigger FOMO in the market, and everyone who previously made profits on BTC will return, fearing to miss out on gains. pic.twitter.com/ZyoG07SxUC

— Axel 💎🙌 Adler Jr (@AxelAdlerJr) September 14, 2024

On a logarythmic scale, Adler demonstrated similar periods for the 2021 bull run, as well as for the 2024 local tops. Every phase of maximum pre-ATH FOMO saw its own "false start" moment, at least in the last four years.

This time, the analyst is sure that Q1, 2024 euphoria triggered by Bitcoin spot ETFs being green-lit in the U.S. is an example of "false start" that was quickly replaced by disbelief.

In the last year, Bitcoin (BTC) was twice brutally rejected by bears over $70,000. As such, the line of $69,500 might be very sensitive for the equilibrium between buyers and sellers, historical data says, not unlike the $63,000-$64,000 zone three years ago.

Yesterday, Sept. 13, 2024, Bitcoin's (BTC) relative strength index (RSI) jumped over 70 for the first time in weeks, which means the asset might be overbought right now.

Bitcoin (BTC) volatility spike imminent?

Meanwhile, more and more analysts are foreseeing a market storm incoming after months of anemic performance for Bitcoin (BTC) and major altcoins.

For instance, as per some estimations, the Bitcoin (BTC) Coinbase Premium Index is forming a rare "triangular pattern" with the upper and lower bounds getting closer and closer to each other.

card

Typically, it means that the largest buyers and sellers are looking at each other waiting for next moves.

Bitcoin (BTC) is up by 3.3% today. It yet again failed to conquer the $60,000 level and is sitting at $59,764 with a slightly increased trading volume.

After digital asset manager Grayscale announced the launch of an XRP Trust, possibly a strategic step toward the first XRP (XRP) spot exchange-traded fund (ETF) in the United States, artificial intelligence (AI) models have offered XRP targets if an XRP spot ETF truly happens.
Specifically, Grayscale’s announcement immediately triggered a bullish rally for the XRP token, making it one of the top performers in terms of price movements and market capitalization in the past 24 hours alongside Quant (QNT) and Worldcoin (WLD), which is why AI models are optimistic.

ChatGPT-4o’s XRP price prediction
Indeed, in this context, Finbold has consulted several AI models for insights regarding the possible price range for XRP if the token actually gets its own spot ETF, starting with the OpenAI brainchild ChatGPT-4o, which has offered a price range between $0.67 and $0.75.
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On the other hand, the AI chatbot pointed out that it was also “crucial to account for the uncertainties and market dynamics” and that the “actual performance will depend on the broader market conditions and investor sentiment at the time of the ETF launch.”
Meta AI’s XRP price prediction
Furthermore, the Meta Platforms (NASDAQ: META) AI assistant, Llama 3.1, has observed that “in the short term, the launch of an XRP spot ETF could lead to a significant price surge, potentially reaching $0.75 or higher, as the XRP price is currently stuck within a medium-term pennant structure.”
“It’s also worth mentioning that the launch of an XRP spot ETF would likely increase the demand for XRP, potentially leading to higher prices. However, the actual price range for XRP would depend on various factors, including the market’s reaction to the ETF launch, the level of investor interest, and the overall market conditions.”
Google Gemini’s XRP prediction
Finally, the generative conversational AI innovation by Google’s parent company, Alphabet (NASDAQ: GOOGL), called Google Gemini, has listed three scenarios for the potential price of XRP following the launch of a spot ETF based on institutional adoption, regulatory clarity, and market sentiment:

XRP prediction scenarios. Source: Google Gemini
Analysts’ XRP price prediction
Elsewhere, renowned pseudonymous markets trading expert TradingShot has stressed that Grayscale’s new Trust launch could be the “dawn of a new era” for cryptocurrencies but also observed a bearish trend for XRP since July 13, 2023, “within a Channel Down pattern,” in a TradingView post on September 13.

XRP performance analysis and prediction. Source: TradingShot
As the analyst further highlighted, XRP is “past the new High, having formed a series of Lower Highs, which have emerged every time after a top,” adding that this “trend-line didn’t break in the past and pushed the price Lower to at least the 0.618 Fibonacci Channel level,” so the sentiment remains bearish:
“As a result, we can’t turn bullish short-term as long as the Lower Highs hold. The action remains bearish, targeting 0.4000 (Fib 0.618). The moment however the price breaks above the Lower Highs trend-line, we will take the short’s loss and turn bullish, targeting the 2.0 Fibonacci extension at 1.1275.”
XRP price analysis
Meanwhile, XRP was at press time changing hands at the price of $0.56858, reflecting a 5.12% increase in the last 24 hours, adding to the 6.05% gain across the previous seven days and reducing the monthly losses to 1.40%, according to the data on September 13.

XRP price 7-day chart. Source: Finbold
Ultimately, XRP might reach the price set by any of the AI models above if it gets its own spot ETF like Bitcoin (BTC) and Ethereum (ETH), but trends in the crypto market can easily change, so doing one’s own research, including keeping up with any XRP news, is critical when investing.

#XRP $XRP

The post Fed News: Is Bitcoin’s $60K Surge at Risk After the Next Fed Move? appeared first on Coinpedia Fintech News

The Federal Reserve (Fed) is expected to kick off its rate-cutting cycle next week, a move that could impact risk assets like Bitcoin. According to 10x Research, an aggressive 50 basis point (bps) rate cut might signal economic concerns, leading investors to reduce exposure to cryptocurrencies and stocks. While traders see a less than 30% chance of a 50 bps cut, Friday’s U.S. jobs report has fueled speculation that the Fed could act. Markus Thielen, founder of 10x Research, noted that while the Fed’s goal is to mitigate economic risks, such a significant cut could signal deeper worries about the economy’s trajectory.

What do the Indicators reveal?

The Chicago Mercantile Exchange’s FedWatch tool reflects a 29% probability for a 50 bps cut, which contrasts with the prevailing market consensus. Thielen’s concerns align with market experts who argue the Fed may be behind the curve, particularly after July’s labor market weakness.

Impact on Risk Assets

Following the news, Bitcoin’s price surged on Friday, nearing $60,000, as traders grew optimistic about a potential jumbo-sized 50-basis-point rate cut from the Federal Reserve in its upcoming meeting. This marks Bitcoin’s highest point since early September, reaching $59,735, a 2.5% increase for the day. The recent rise follows a reversal of September losses, which saw Bitcoin dip to $53,300 after a disappointing August jobs report. Traders now anticipate that the Fed’s decision could provide a boost to risk assets like Bitcoin amid concerns about the weakening U.S. economy. This situation also feeds into ongoing bitcoin price prediction discussions.

Analyst Weighs In

However, a 50 bps cut could lead to corrections in risk assets, as noted by macro trader Craig Shapiro. He explained that markets addicted to liquidity might demand bigger reductions from the Fed, and until they get them, assets like Bitcoin could face downward pressure.

Historically, the start of a rate-cutting cycle doesn’t always boost asset prices, leaving investors cautious. Bitcoin’s rise from $20,000 earlier in 2023 was largely fueled by expectations of Fed easing, raising questions about whether this potential cut is already priced in. Having said that, it appears that traders have already factored in the Fed rate cut, but analysts predict Bitcoin to continue its bullish trajectory and a slight decline will have little impact.

The upcoming decision will be critical, as it could set the tone for Bitcoin and other risk assets moving forward. 

Also Check Out: Crypto Whales Are ALL After These Top Altcoins, Buy It Before It Surge!

What do you think about this impending warning is this a hint of further decline? 

Bitcoin has reclaimed the crucial $60,000 price level for the first time since Aug. 30, and the involvement of institutional participants signals this time around is unique, according to a crypto analyst.

“This time is different,” crypto analyst Rajat Soni wrote in a Sept. 13 X post. Soni explained that Bitcoin (BTC) has been “consolidating above” $50,000 for over six months.

However, the last time it was above $50,000 was in 2021, when interest in the asset was mainly from retail investors. He noted:

“The price struggled to maintain $50K+ because most of the buying was from retail investors who are notorious for buying and selling based on emotions.”

Soni claimed that “Institutional investors are here, and they’re ready to buy everything retail investors want to sell.” He warned his 96,900 followers that “If you’re selling, be ready to pay significantly more to get the same amount back.”

Bitcoin is trading at $60,596, up 4.25% since Sept. 12, according to CoinMarketCap data. 

Bitcoin is up 12.40% over the past seven days. Source: CoinMarketCap

After Bitcoin surpassed $60,000, pseudonymous crypto trader Jelle speculated that the asset might defy its usual trend of underperforming in September.

“Bitcoin is currently on track to close September in the green,” Jelle wrote. The trader pointed out that it has only achieved a “green close” in September three times before: in 2015, 2016, and 2023.

CoinGlass data shows that September is the worst month for Bitcoin, with the asset posting an average monthly loss of 4.49% over the last 11 years.

Meanwhile, Into The Cryptoverse founder Benjamin Cowen pointed out in a post on Sept. 14 that it was the “highest daily close for BTC dominance all cycle.”

At the time of publication, Bitcoin’s market dominance is 57.80%, according to TradingView data.

Meanwhile, Reflexivity Research co-founder Will Clemente opined in a Sept. 13 X post that there are “some early signs of life showing in the technicals for BTC.”

“Looking for a reclaim of its 200dma which would coincide with its first higher high in 6 months to start looking at alts,” Clemente added.

Magazine:  Help! My parents are addicted to Pi Network crypto tapper

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This is turning out to be a great week for crypto. Bitcoin price just broke past the $60K level for the first time this month. In fact, remember how everybody was saying September is historically bad for crypto?

We’re almost halfway through the month, and this is, for now, a “green” month since the BTC price was around $58K on September 1st.

Ethereum is also doing well as the ETH price approaches the crucial $2.5K level after a 4% pump today.

However, a lot can change in the second part of the month. Let’s see why crypto prices are up today.

MicroStrategy Continues Bitcoin Buying Spree

MicroStrategy has made another Bitcoin purchase. The company reportedly bought an additional 18,300 BTC, worth approximately $1.11 billion, at an average price of $60,408 between August 6 and September 12.

MicroStrategy bought another 18,300 $BTC($1.11B) at $60,408 between Aug 6 and Sept 12!#MicroStrategy currently holds 244,800 $BTC($14.15B), and the average buying price is $38,585.At current prices, the profit is ~$4.71B! pic.twitter.com/keyEPOpQjP

— Lookonchain (@lookonchain) September 13, 2024

This latest acquisition brings MicroStrategy’s total Bitcoin holdings to a staggering 244,800 BTC, valued at around $14.15 billion. The company’s average buying price now stands at $38,585. At current market prices, MicroStrategy is sitting on a profit of approximately $4.71 billion from its Bitcoin investments.

Read also: Can You Become a Millionaire by Holding Kaspa (KAS)?

Bitcoin Approaches Critical Resistance

Crypto trader Ali has reported that Bitcoin is nearing a crucial resistance zone. According to his data, there are 1.52 million addresses holding over 770,000 BTC between $59,885 and $61,625.

This concentration of Bitcoin at these price levels creates a significant hurdle for further price increases. If Bitcoin manages to break through this resistance, it could potentially climb to $64,300. However, if the resistance holds, we might see a pullback to around $57,235.

#Bitcoin is approaching a critical resistance zone, with 1.52 million addresses holding over 770,000 $BTC between $59,885 and $61,625. If this level is surpassed, #BTC could climb to $64,300. However, if it holds, a pullback to $57,235 may occur. pic.twitter.com/K4OLNJOFNL

— Ali (@ali_charts) September 13, 2024

It’s worth noting that 770,000 BTC represents a big amount of Bitcoin – over 3.6% of the total supply. Such a large concentration of Bitcoin at a specific price range can indeed create strong resistance or support levels, depending on whether these holders decide to sell or hold onto their assets.

BlackRock’s Bitcoin ETF Sees Massive Trading Volume

In another positive news, Bitcoin Magazine reported on X (Twitter) that BlackRock’s spot Bitcoin ETF, IBIT, saw $1.1 billion in trading volume today.

This trading activity in a major institutional investment product demonstrates growing interest in Bitcoin, so this might helped the BTC price pump today.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.

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The post Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today? appeared first on CaptainAltcoin.

Solana (SOL) is approaching pivotal resistance zones across multiple timeframes, suggesting that a significant price movement could be on the horizon. Traders and investors should closely monitor these levels, as a breakout or rejection here could set the tone for SOL's next major trend.

4-Hour Chart Analysis
Resistance Level: SOL is confronting a formidable resistance at $139.38, a level it has tested multiple times without success. This repeated testing indicates that the market is intensely watching this price point.Momentum Indicator: The Relative Strength Index (RSI) is at 60.61, reflecting moderate bullish momentum but edging towards overbought conditions. This suggests that while buyers are in control, the asset may be nearing a short-term peak.Key Support: Immediate support is identified at $130.03, aligning with the Weekly Value Area Low (wVAL). This level has acted as a safety net in recent trading sessions.Outlook: A decisive break above $139.38 could pave the way towards the next target at $143.81 (monthly Point of Control, mPOC). Failure to breach this resistance may result in a pullback towards the $130.03 support.
Daily Chart Analysis
Resistance Zone: On the daily timeframe, SOL remains trapped below the significant resistance at $143.81, with an upper boundary around $151.84 (wVAH). This zone has been a barrier to upward movement.Support Zone: Strong support exists between $121.19 and $130.03, offering potential re-entry points for bullish traders.Momentum: The RSI stands at 46.23, indicating neutral momentum without significant divergence. This neutrality means the market could swing in either direction.Outlook: Overcoming the $139.38 and $143.81 resistances could propel SOL towards the $151-$152 range. Conversely, dropping below $130 might lead to a retest of the $121 support area.

3-Day Chart Analysis
Macro Resistance: A broader resistance zone lies between $143.81 and $151.84, where SOL has faced rejection since early September. This area is crucial for the long-term price trajectory.Support Zone: The $121.19 level has consistently provided strong support since August, underscoring its importance.RSI Analysis: With an RSI of 45.97, the momentum is neutral, indicating neither strong bullish nor bearish dominance.Outlook: Breaking above the $143.81 resistance could trigger a rally towards $174.35 (2-month Value Area High, 2mVAH). Failure to do so might see SOL revisiting the $121.19 support.

Weekly Chart Analysis
Resistance Zone: The major long-term resistance is at $151.84, a barrier that has persisted over time. A breakthrough here would be significant.Support Zone: The support between $121.19 and $130.03 has offered stability since mid-2023, serving as a foundation for potential upward moves.RSI Analysis: The weekly RSI is at 49.33, close to neutral but nearing oversold territory. This could signal a potential reversal if the price action aligns.Outlook: A weekly close above $143.81 would suggest a possible trend reversal and increased bullish momentum. Conversely, a close below the $121-$130 region could indicate a deeper correction ahead.
Conclusion
Solana is at a crossroads, with critical resistance levels in sight across multiple timeframes. The $139.38 and $143.81 levels are particularly significant; breaking above these could unleash a bullish rally towards $151 and potentially $174. However, failure to overcome these hurdles may result in consolidation or a pullback to the strong support zone between $121 and $130.
Traders should keep a close eye on the RSI indicators, which, while currently neutral to moderately bullish, are approaching levels that could precede a reversal. The overbought conditions on shorter timeframes suggest caution.
In this pivotal moment, monitoring SOL's price action relative to these key support and resistance levels will be crucial. A breakout or breakdown will likely set the stage for Solana's next significant move, making timely analysis and responsiveness essential.

The post Bitcoin Price About $60K! What’s Driving the BTC Price Surge? appeared first on Coinpedia Fintech News

With a jump of 2.20% within the past day, the price of Bitcoin has recorded a high of $59,976 today. Moreover, amid increased bullish action, the star crypto has recorded a trading volume of $30.856 Billion.

With this, people are curious about the recent Bitcoin price surge. Speculations such as increased whale/institutional activities, and the upcoming FOMC meeting are considered to be the prime reasons as per some reports.

Amid rising FOMO in the crypto market, our dedicated analysts have written a detailed article uncovering the market sentiments, price analysis, and possible short-term price action of the largest cryptocurrency by market capitalization.

BTC Price Retests Its $60,000 mark!

After trading under a negative influence for a brief period, the Bitcoin price has surged over 10% within the past seven days. This has resulted in the market leader breaking out of its important resistance level of $58K and heading toward its important psychological level of $60,000.

TradingView: BTC/USDT

During the late Asian trading hours, the BTC price added 3.38%, from $57,662 to $59,605. Moreover, with the recent bullish action, it has successfully retested its important resistance/support zone around the $58,000 level.

The Moving Average Convergence Divergence (MACD) has recorded a rising green histogram with a bullish convergence in its 1D time frame. This highlights increased bullish action for the crypto token in the market.

Further, the EMA 50/200-day has started stabilizing by recording a neutral price trend. However, the 50-day shows a potential bullish reversal, suggesting a positive outlook in the coming time.

Will Bitcoin Price Hit $100K This Year?

If the market continues to gain momentum, the BTC crypto price will retest its resistance level of $60,178. Maintaining the price at that level will set the stage for Bitcoin to head toward its upper resistance level of $66,726 during the upcoming weeks.

On the flip side, if a trend reversal occurs, it will retest its support trendline of $58,000. Failing to hold its price at that level could result in it plunging toward its lower support level of $55,000 this month.

Also read, Bitcoin Price Prediction 2024 – 2030

Earlier in August, the XRP community got some positive news when the court ruled that Ripple Labs should pay a $125 million fine to the United States Securities and Exchange Commission (SEC) for selling unregistered securities. However, the regulator has been unhappy with this decision, leading to an appeal of the court’s decision. Naturally, the appeal has pushed back the finish line for the 4-year battle, but the end could still be very bullish for the XRP price.

The XRP Crash Before The Surge

While the SEC and Ripple continue to battle it out in court, a pseudonymous crypto analyst on the TradingView website who goes by the name AnalysisParalysis has shared their expectation for the XRP price. In this case, the crypto analyst expects that the altcoin’s price will rally. But not without first suffering a decline due to the SEC appeal.

According to the analyst, the SEC appeal is expected to come sometime before October 6, 2024, during which time they expect the XRP price to struggle. “I believe this will be the catalyst this time around that causes XRP to crash just before its going to go on a massive upward movement,” the analyst said.

The initial crash here is expected to cross 30%, pushing the price as low as $0.33. However, after this, fireworks are expected to follow as the XRP price begins its uptrend. From here, the altcoin is expected to clear the $1 easily, moving toward new all-time highs in the process.

As for how high the XRP price could go, the crypto analyst believes that it could rise as high as $8.80. If this happens, it would mean a 2,566% increase from the $0.33 lows expected after the price crash. The analyst speculates that the timeframe for the altcoin’s price to touch this new all-time high is sometime in summer 2025. So, somewhere between June and September 2025.

The State Of The Ripple Vs. SEC Lawsuit

Currently, the battle between Ripple and the SEC rages on as the regulator has appealed the court’s decision that secondary programmatic sales of XRP tokens do not count as a securities offering. The outcome of the appeal is still heavily debated but securities lawyer Marc Fagel has offered various possibilities.

On an X (formerly Twitter) post, Fagel stated;

“The Court of Appeals could conclude the district court erred in stating that XRP is not itself a security; and if it is, then the holding on programmatic sales gets reversed. But they could also reverse the programmatic sales without addressing the question of XRP being a security per se (as seems more likely).”

However, way the appeal does play out, the consensus remains that a final end to the battle between the crypto firm and the regulator would be good for the XRP price. Projections following the outcome have ranged from a price tag of $1 to as high as $100.

Source: NewsBTC.com

The post XRP Price To Crash To $0.33 Before Surge To $9 Post-SEC Appeal; Analyst Reveals appeared first on Crypto Breaking News.

If you still intend to buy Bitcoin in 2024, you are "very late," according to financial commentator Peter Schiff. 

Schiff has pointed to the fact that gold's market cap gain is already five times bigger than Bitcoin's total market cap this year alone.

The cryptocurrency is currently valued at $1.15 trillion, according to CoinGecko data. 

Room for growth 

Bitcoin is so far up 38.5% on a year-to-date basis, but some analysts believe that it could surge higher. 

Hedge fund manager Mark Yukso and Fundstrat's Tom Lee previously predicted that Bitcoin could end up reaching $150,000 as soon as this year. 

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Mike Novogratz of Galaxy Digital also sees Bitcoin crossing the $100,000 threshold this year. 

Sky-high price targets 

When it comes to long-term price targets, there are some pie-in-the-sky Bitcoin price targets. 

Cathie Wood of Ark Invest sees Bitcoin potentially reaching $3.8 million in the long term. For this extremely optimistic prediction to materialize, institutional investors are supposed to allocate at least 5% of their assets to the crypto king. Wood did not mention the specific year when she expected the aforementioned target to be reached. 

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Meanwhile, MicroStrategy's Michael Saylor recently predicted that the price of Bitcoin could potentially skyrocket to $13 million by 2024. During his recent CNBC appearance, Saylor doubled down on his forecast, predicting that the largest cryptocurrency is going to capture 7% of the world's capital. 

Notably, this is only his use case. Meanwhile, his bull case is as high as $49 million. 

As reported by U.Today, Schiff recently took aim at Saylor, challenging the latter to have a debate about Bitcoin. 

The U.S. Federal Reserve has issued a stark warning, suggesting that Bitcoin and the broader cryptocurrency market are on the "cusp" of experiencing a major price shock. As macroeconomic conditions continue to evolve, the central bank's focus on rising interest rates, inflation, and regulatory uncertainties is expected to create potential turbulence in the digital asset market.
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1. The Fed’s Concerns Over Crypto Volatility 🌐📉
The Federal Reserve has repeatedly expressed concerns about the volatility and speculative nature of cryptocurrencies. In its recent remarks, the Fed has highlighted several factors that could trigger significant price fluctuations in Bitcoin and other digital assets in the near future.
Key Factors Contributing to the Potential Price Shock:
- Rising Interest Rates: The Fed’s aggressive stance on interest rate hikes to combat inflation could decrease liquidity in the financial markets, impacting speculative assets like crypto.
- Inflation Pressures: Ongoing inflation concerns continue to affect investor sentiment, with some viewing crypto as a hedge against inflation, while others see it as too risky during uncertain times.
- Regulatory Pressure: Increasing calls for stricter regulation on the cryptocurrency sector could deter institutional investors and shake confidence in the market.
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2. What Does This Mean for Bitcoin? 🪙📊
👇👇👇
$BTC
Bitcoin, often seen as a store of value and digital gold, has been at the center of speculative interest and institutional adoption in recent years. However, the Fed’s warning suggests that Bitcoin’s price stability could be tested in the months ahead.
How Bitcoin Could React:
- Short-Term Volatility: In the face of tightening financial conditions and regulatory developments, Bitcoin could see significant short-term price swings.
- Long-Term Outlook: While the price shock may affect Bitcoin in the short term, many crypto analysts believe that Bitcoin’s long-term value proposition as a decentralized, inflation-resistant asset remains intact.
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3. Altcoins and DeFi Under Pressure 🪙⛓️
While Bitcoin often garners the most attention, the broader altcoin market and decentralized finance (DeFi) platforms could also be severely impacted by the Fed’s actions. Many altcoins, which tend to be more speculative than Bitcoin, could see even greater volatility and downward pressure as investors seek safer assets.
👇👇👇
$BCH
Altcoin Impact:
- Increased Risk: Many altcoins could experience higher levels of price depreciation, as investors reallocate their capital in response to macroeconomic changes.
- Flight to Quality: Institutional investors may focus more on established digital assets like Bitcoin and Ethereum, potentially leaving smaller, less-known tokens more vulnerable to market shocks.
👇👇👇
$SOL
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4. Regulatory Uncertainty Adding to Market Stress ⚖️📝
The U.S. government and regulatory agencies are increasingly focused on the cryptocurrency industry, with discussions around how to manage its growth and prevent fraud, money laundering, and other illicit activities. The Fed's warning could push regulators to accelerate their efforts to introduce stricter oversight.
Potential Regulatory Changes:
- Stablecoin Regulations: The regulation of stablecoins is a top priority for U.S. lawmakers, and any unexpected regulatory measures could ripple through the crypto market.
- Taxation and Compliance: As governments seek to increase tax revenue from crypto transactions, stricter compliance requirements could discourage trading and investment in the sector.
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5. How Should Investors Prepare? 🛡️💡
With the possibility of a major price shock looming, crypto investors should consider reassessing their strategies and risk tolerance.
Steps Investors Can Take:
- Diversify Holdings: Maintaining a diversified portfolio can help investors manage risk in times of high volatility.
- Stay Informed: Keeping up with Fed announcements, regulatory developments, and market news is crucial to making informed investment decisions.
- Hedge Against Risk: Some investors may look to traditional hedges such as gold or bonds to balance out their crypto exposure.
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Conclusion: Navigating Uncertainty in the Crypto Market 🧭
The Federal Reserve's warning of a potential Bitcoin and crypto price shock serves as a reminder that the cryptocurrency market is still highly influenced by macroeconomic trends and regulatory actions. While the long-term outlook for digital assets like Bitcoin remains promising to many, investors should brace for potential volatility as the Fed’s actions ripple through the financial system.
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