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Bitcoin Price Faces Potential Decline as Key BTC Metrics Signal Warning
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Bitcoin’s price trends have captured the attention of market analysts as it teeters around a critical threshold. According to Ali Martinez, a crypto analyst, historically when Bitcoin falls below the Realized Price-to-Liveliness Ratio, set at $51,600, further price declines often follow.
This drop can push Bitcoin down to its Realized Price, which stands at $31,500. With Bitcoin’s at press time priced at $54,414.30, and a minor 0.27% increase in the last 24 hours, the market is closely watching its next move.
Bitcoin’s Market Performance and Key Metrics
As per DefiLlama data Bitcoin’s trading activity has remained steady, with a 24-hour volume of $16.6 billion. The total value locked (TVL) within the Bitcoin ecosystem stands at $483.58 million, reflecting the capital invested across its decentralized landscape.
Over the past 24 hours, Bitcoin has generated $408,744 in network fees and processed a trading volume of $5,482. These figures, coupled with 666,660 active addresses, showcase the extensive and active user base supporting the Bitcoin network.
Social Trends Correlating with Bitcoin’s Decline
Recent analysis reveals that social trends are playing a role in Bitcoin’s price movements. Santiment data shows a steady decline in Bitcoin’s price despite occasional fluctuations.
Social dominance has spiked during several key points, but overall remains stable. This suggests that while there is heightened activity and attention surrounding Bitcoin, it is not enough to shift the current downward trend. The social volume reflects periodic increases, often aligning with the spikes in social dominance.
#Bitcoin #Altcoins #CryptoNews #BTC #USNonFarmPayrollReport $BTC $ETH $USDC
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Bitcoin’s price trends have captured the attention of market analysts as it teeters around a critical threshold. According to Ali Martinez, a crypto analyst, historically when Bitcoin falls below the Realized Price-to-Liveliness Ratio, set at $51,600, further price declines often follow.
This drop can push Bitcoin down to its Realized Price, which stands at $31,500. With Bitcoin’s at press time priced at $54,414.30, and a minor 0.27% increase in the last 24 hours, the market is closely watching its next move.
Bitcoin’s Market Performance and Key Metrics
As per DefiLlama data Bitcoin’s trading activity has remained steady, with a 24-hour volume of $16.6 billion. The total value locked (TVL) within the Bitcoin ecosystem stands at $483.58 million, reflecting the capital invested across its decentralized landscape.
Over the past 24 hours, Bitcoin has generated $408,744 in network fees and processed a trading volume of $5,482. These figures, coupled with 666,660 active addresses, showcase the extensive and active user base supporting the Bitcoin network.
Social Trends Correlating with Bitcoin’s Decline
Recent analysis reveals that social trends are playing a role in Bitcoin’s price movements. Santiment data shows a steady decline in Bitcoin’s price despite occasional fluctuations.
Social dominance has spiked during several key points, but overall remains stable. This suggests that while there is heightened activity and attention surrounding Bitcoin, it is not enough to shift the current downward trend. The social volume reflects periodic increases, often aligning with the spikes in social dominance.
#Bitcoin #Altcoins #CryptoNews #BTC #USNonFarmPayrollReport $BTC $ETH $USDC
Bitcoin to Reach $150K by 2025, Skyrocket to $1M by 2030, Says Top Exec » CoinEagle
Bitcoin to Reach $150K by 2025, Skyrocket to $1M by 2030, Says Top Exec » CoinEagle
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Key PointsSwan Bitcoin’s CEO predicts Bitcoin could reach $100,000 by 2025 and $1 million by 2030.The Bitcoin power law model forecasts a median target of $115K by early 2025.
Swan Bitcoin’s CEO, Cory Klippsten, recently shared his bullish price predictions for Bitcoin (BTC). He believes that by 2025, BTC could be valued at $100,000, and by 2030, it could hit the $1 million mark.
Price Predictions
These forecasts are not unique to Klippsten. Other financial institutions, such as Standard Chartered, anticipate that BTC could reach $150,000 by the end of 2024. However, Klippsten’s predictions are slightly more conservative, with a proposed return to $125,000 by the end of 2025.
The Bitcoin power law model, a popular prediction tool among analysts, suggests similar figures. The model’s median target for early 2025 is $115,000, closely aligning with Klippsten’s prediction. However, it’s important to note that this model is based on historical price patterns and could be affected by unforeseen events.
Current Market Conditions
At present, Bitcoin’s price has recovered slightly, settling above $52,000. This is the same support level that halted a significant decline in August. BitMEX founder Arthur Hayes suggests that a rebound may be on the horizon, potentially driven by increased dollar liquidity.
However, for a full recovery to occur, BTC must overcome several resistance levels, including those at $57,000, $60,000, and $65,000.
Currently, BTC is trading at $54,300,
approximately 26% lower than its March record high of $73,800.
#Bitcoin #BTC #Airdrop #CryptoNews #accelerate $BTC $ETH $BNB
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Key PointsSwan Bitcoin’s CEO predicts Bitcoin could reach $100,000 by 2025 and $1 million by 2030.The Bitcoin power law model forecasts a median target of $115K by early 2025.
Swan Bitcoin’s CEO, Cory Klippsten, recently shared his bullish price predictions for Bitcoin (BTC). He believes that by 2025, BTC could be valued at $100,000, and by 2030, it could hit the $1 million mark.
Price Predictions
These forecasts are not unique to Klippsten. Other financial institutions, such as Standard Chartered, anticipate that BTC could reach $150,000 by the end of 2024. However, Klippsten’s predictions are slightly more conservative, with a proposed return to $125,000 by the end of 2025.
The Bitcoin power law model, a popular prediction tool among analysts, suggests similar figures. The model’s median target for early 2025 is $115,000, closely aligning with Klippsten’s prediction. However, it’s important to note that this model is based on historical price patterns and could be affected by unforeseen events.
Current Market Conditions
At present, Bitcoin’s price has recovered slightly, settling above $52,000. This is the same support level that halted a significant decline in August. BitMEX founder Arthur Hayes suggests that a rebound may be on the horizon, potentially driven by increased dollar liquidity.
However, for a full recovery to occur, BTC must overcome several resistance levels, including those at $57,000, $60,000, and $65,000.
Currently, BTC is trading at $54,300,
approximately 26% lower than its March record high of $73,800.
#Bitcoin #BTC #Airdrop #CryptoNews #accelerate $BTC $ETH $BNB
Bitcoin to Reach $150K by 2025, Skyrocket to $1M by 2030, Says Top Exec » CoinEagle
🔥AIG Airdrop Is Live 🔥 Get 100,000 AIG Tokens Worth Of $100 USD Free, Join Airdrop Now On Official Website : PlayAiGames.Online⭐
Key PointsSwan Bitcoin’s CEO predicts Bitcoin could reach $100,000 by 2025 and $1 million by 2030.The Bitcoin power law model forecasts a median target of $115K by early 2025.
Swan Bitcoin’s CEO, Cory Klippsten, recently shared his bullish price predictions for Bitcoin (BTC). He believes that by 2025, BTC could be valued at $100,000, and by 2030, it could hit the $1 million mark.
Price Predictions
These forecasts are not unique to Klippsten. Other financial institutions, such as Standard Chartered, anticipate that BTC could reach $150,000 by the end of 2024. However, Klippsten’s predictions are slightly more conservative, with a proposed return to $125,000 by the end of 2025.
The Bitcoin power law model, a popular prediction tool among analysts, suggests similar figures. The model’s median target for early 2025 is $115,000, closely aligning with Klippsten’s prediction. However, it’s important to note that this model is based on historical price patterns and could be affected by unforeseen events.
Current Market Conditions
At present, Bitcoin’s price has recovered slightly, settling above $52,000. This is the same support level that halted a significant decline in August. BitMEX founder Arthur Hayes suggests that a rebound may be on the horizon, potentially driven by increased dollar liquidity.
However, for a full recovery to occur, BTC must overcome several resistance levels, including those at $57,000, $60,000, and $65,000.
Currently, BTC is trading at $54,300,
approximately 26% lower than its March record high of $73,800.
#Bitcoin #BTC #Airdrop #CryptoNews #accelerate $BTC $ETH $BNB
🔥AIG Airdrop Is Live 🔥 Get 100,000 AIG Tokens Worth Of $100 USD Free, Join Airdrop Now On Official Website : PlayAiGames.Online⭐
Key PointsSwan Bitcoin’s CEO predicts Bitcoin could reach $100,000 by 2025 and $1 million by 2030.The Bitcoin power law model forecasts a median target of $115K by early 2025.
Swan Bitcoin’s CEO, Cory Klippsten, recently shared his bullish price predictions for Bitcoin (BTC). He believes that by 2025, BTC could be valued at $100,000, and by 2030, it could hit the $1 million mark.
Price Predictions
These forecasts are not unique to Klippsten. Other financial institutions, such as Standard Chartered, anticipate that BTC could reach $150,000 by the end of 2024. However, Klippsten’s predictions are slightly more conservative, with a proposed return to $125,000 by the end of 2025.
The Bitcoin power law model, a popular prediction tool among analysts, suggests similar figures. The model’s median target for early 2025 is $115,000, closely aligning with Klippsten’s prediction. However, it’s important to note that this model is based on historical price patterns and could be affected by unforeseen events.
Current Market Conditions
At present, Bitcoin’s price has recovered slightly, settling above $52,000. This is the same support level that halted a significant decline in August. BitMEX founder Arthur Hayes suggests that a rebound may be on the horizon, potentially driven by increased dollar liquidity.
However, for a full recovery to occur, BTC must overcome several resistance levels, including those at $57,000, $60,000, and $65,000.
Currently, BTC is trading at $54,300,
approximately 26% lower than its March record high of $73,800.
#Bitcoin #BTC #Airdrop #CryptoNews #accelerate $BTC $ETH $BNB
Arthur Hayes Closes Short Bitcoin Position, Hints at Upcoming BTC Rally
Arthur Hayes Closes Short Bitcoin Position, Hints at Upcoming BTC Rally
Bitcoin’s price tumbled hard on Friday from $57,000 to under $53,000 in hours before it finally covered some ground. Some investors and even long-term BTC bulls, such as Arthur Hayes, tried to take advantage by shorting the asset.
However, he said earlier today that he has closed his position as BTC might even rally in the next few days.
CryptoPotato reported the highly volatile price actions that transpired on Friday, which began after the release of the August jobs report in the States. As the unemployment rates declined slightly month-over-month, bitcoin jumped by $1,500 and tapped $57,000.
That turned out to be a false breakout, though, and the bears quickly pushed it south by more than four grand. As a result, the cryptocurrency fell to a monthly low of under $53,000.
At this time, BitMEX’s co-founder, Arthur Hayes, said he had opened a short position and was aiming for a price tag of under $50,000 during the weekend.
Nevertheless, BTC has bounced from its monthly low and has jumped above $54,000 as of now. Even though the weekend is far from over, Hayes posted an update earlier today, saying he had closed his position with a 3% profit because the asset ‘might’ rise in the following days due to Janet Yellen’s weekend speech.
#ArthurHayes #Bitcoin #BTC #CryptoNews #Altcoins $BTC $ETH $BNB
Bitcoin’s price tumbled hard on Friday from $57,000 to under $53,000 in hours before it finally covered some ground. Some investors and even long-term BTC bulls, such as Arthur Hayes, tried to take advantage by shorting the asset.
However, he said earlier today that he has closed his position as BTC might even rally in the next few days.
CryptoPotato reported the highly volatile price actions that transpired on Friday, which began after the release of the August jobs report in the States. As the unemployment rates declined slightly month-over-month, bitcoin jumped by $1,500 and tapped $57,000.
That turned out to be a false breakout, though, and the bears quickly pushed it south by more than four grand. As a result, the cryptocurrency fell to a monthly low of under $53,000.
At this time, BitMEX’s co-founder, Arthur Hayes, said he had opened a short position and was aiming for a price tag of under $50,000 during the weekend.
Nevertheless, BTC has bounced from its monthly low and has jumped above $54,000 as of now. Even though the weekend is far from over, Hayes posted an update earlier today, saying he had closed his position with a 3% profit because the asset ‘might’ rise in the following days due to Janet Yellen’s weekend speech.
#ArthurHayes #Bitcoin #BTC #CryptoNews #Altcoins $BTC $ETH $BNB
Arthur Hayes Closes Short Bitcoin Position, Hints at Upcoming BTC Rally
Bitcoin’s price tumbled hard on Friday from $57,000 to under $53,000 in hours before it finally covered some ground. Some investors and even long-term BTC bulls, such as Arthur Hayes, tried to take advantage by shorting the asset.
However, he said earlier today that he has closed his position as BTC might even rally in the next few days.
CryptoPotato reported the highly volatile price actions that transpired on Friday, which began after the release of the August jobs report in the States. As the unemployment rates declined slightly month-over-month, bitcoin jumped by $1,500 and tapped $57,000.
That turned out to be a false breakout, though, and the bears quickly pushed it south by more than four grand. As a result, the cryptocurrency fell to a monthly low of under $53,000.
At this time, BitMEX’s co-founder, Arthur Hayes, said he had opened a short position and was aiming for a price tag of under $50,000 during the weekend.
Nevertheless, BTC has bounced from its monthly low and has jumped above $54,000 as of now. Even though the weekend is far from over, Hayes posted an update earlier today, saying he had closed his position with a 3% profit because the asset ‘might’ rise in the following days due to Janet Yellen’s weekend speech.
#ArthurHayes #Bitcoin #BTC #CryptoNews #Altcoins $BTC $ETH $BNB
Bitcoin’s price tumbled hard on Friday from $57,000 to under $53,000 in hours before it finally covered some ground. Some investors and even long-term BTC bulls, such as Arthur Hayes, tried to take advantage by shorting the asset.
However, he said earlier today that he has closed his position as BTC might even rally in the next few days.
CryptoPotato reported the highly volatile price actions that transpired on Friday, which began after the release of the August jobs report in the States. As the unemployment rates declined slightly month-over-month, bitcoin jumped by $1,500 and tapped $57,000.
That turned out to be a false breakout, though, and the bears quickly pushed it south by more than four grand. As a result, the cryptocurrency fell to a monthly low of under $53,000.
At this time, BitMEX’s co-founder, Arthur Hayes, said he had opened a short position and was aiming for a price tag of under $50,000 during the weekend.
Nevertheless, BTC has bounced from its monthly low and has jumped above $54,000 as of now. Even though the weekend is far from over, Hayes posted an update earlier today, saying he had closed his position with a 3% profit because the asset ‘might’ rise in the following days due to Janet Yellen’s weekend speech.
#ArthurHayes #Bitcoin #BTC #CryptoNews #Altcoins $BTC $ETH $BNB
Ripple CTO Breaks Silence on RLUSD Stablecoin Rumors
Ripple CTO David Schwartz recently addressed speculation surrounding the RLUSD stablecoin. In a tweet, Schwartz indicated that RLUSD might likely be accessible only to institutions, at least initially.
In his tweet, Schwartz stated, “It will probably only ever be available directly to institutions. Can you get USDC from Circle or USDT from Tether? Because I can’t.”
Schwartz was responding to an X user who asked if RLUSD could be only available, at least initially, to institutions and not crypto retail.
The X user proposed that restricting RLUSD to institutional access could protect it from risks linked to other stablecoins, like USDT, which has been criticized for alleged connections to money laundering and concerns over its stability.
Schwartz further addressed concerns about potential manipulation of the RLUSD stablecoin, stating, “I don’t think that’s likely to happen except maybe in very early test phases before anyone is really using it to move or store value.”
Ripple USD (RLUSD) is currently being tested in private beta on XRP Ledger and Ethereum mainnet. As reported, the Ripple CEO Brad Garlinghouse at a recent XRPL event indicated that the Ripple stablecoin was gearing much closer to its release, suggesting a timeline of “weeks.”
As RLUSD moves closer to its anticipated launch, Schwartz’s statements offer insight into Ripple’s cautious approach to rolling out RLUSD.
Ripple USD stablecoin
In April, Ripple announced plans to introduce a stablecoin tied 1:1 to the USD on XRP Ledger and Ethereum.
This initiative is intended to broaden Ripple’s reach into institutional and DeFi markets, diversify use cases and improve its payments infrastructure, bringing traditional and decentralized finance closer together.
#RLUSD #USD #Ripple #XRP #CrypoNews $XRP $BTC $ETH
Ripple CTO David Schwartz recently addressed speculation surrounding the RLUSD stablecoin. In a tweet, Schwartz indicated that RLUSD might likely be accessible only to institutions, at least initially.
In his tweet, Schwartz stated, “It will probably only ever be available directly to institutions. Can you get USDC from Circle or USDT from Tether? Because I can’t.”
Schwartz was responding to an X user who asked if RLUSD could be only available, at least initially, to institutions and not crypto retail.
The X user proposed that restricting RLUSD to institutional access could protect it from risks linked to other stablecoins, like USDT, which has been criticized for alleged connections to money laundering and concerns over its stability.
Schwartz further addressed concerns about potential manipulation of the RLUSD stablecoin, stating, “I don’t think that’s likely to happen except maybe in very early test phases before anyone is really using it to move or store value.”
Ripple USD (RLUSD) is currently being tested in private beta on XRP Ledger and Ethereum mainnet. As reported, the Ripple CEO Brad Garlinghouse at a recent XRPL event indicated that the Ripple stablecoin was gearing much closer to its release, suggesting a timeline of “weeks.”
As RLUSD moves closer to its anticipated launch, Schwartz’s statements offer insight into Ripple’s cautious approach to rolling out RLUSD.
Ripple USD stablecoin
In April, Ripple announced plans to introduce a stablecoin tied 1:1 to the USD on XRP Ledger and Ethereum.
This initiative is intended to broaden Ripple’s reach into institutional and DeFi markets, diversify use cases and improve its payments infrastructure, bringing traditional and decentralized finance closer together.
#RLUSD #USD #Ripple #XRP #CrypoNews $XRP $BTC $ETH
Analysts Foresee XRP Price Surge
On December 20, 2020, Ripple encountered an unexpected and prolonged lawsuit from the SEC centered around XRP.
The cryptocurrency, which was performing exceptionally well at the time, saw its value plummet, dropping below $1 and remaining in that range for an extended period. Since then, XRP has only surpassed the $1 mark once, raising questions about when it might achieve this level again.
Despite the current market trends, analysts continue to hold optimistic expectations for XRP’s future.Analysts’ Positive Outlook
Analyst opinions play a crucial role in understanding different perspectives on cryptocurrencies. Recently, three analysts shared their bullish expectations for XRP, regardless of its ongoing price volatility.
First, EGRAG CRYPTO, known for his optimistic views on XRP, garnered attention with his comments. He stated, “#XRP 540 Days Since March 13, 2023! If you are shaken by these small moves, you don’t deserve the BIG MEGA RALLY coming! #XRPArmy STAY ALERT.”
Which Level Needs to Be Broken?
Another market analyst, Crypto Michael, highlighted a critical level for XRP. He noted that a significant price increase could occur once XRP breaches the $0.55 mark, potentially leading to a sharp rise.
Lastly, Amonyx, a closely followed analyst on X, excited investors with his positive outlook. He emphasized that patience is more crucial than the size of the investment when it comes to XRP.
Current Status and Key Insights
Despite the bullish sentiments, current indicators do not fully reflect this optimism:
XRP is trading at $0.5292 with a 0.12% increase in the last 24 hours. The coin experienced a 5.36% drop in the past week. XRP’s market cap stands at $29.8 billion. Trading volume has decreased to $491 million, showing a decline in interest.
These observations suggest that while analysts are hopeful, market conditions remain cautious.
#SEC #Ripple #Altcoins #CryptoNews $XRP $BTC $ETH
On December 20, 2020, Ripple encountered an unexpected and prolonged lawsuit from the SEC centered around XRP.
The cryptocurrency, which was performing exceptionally well at the time, saw its value plummet, dropping below $1 and remaining in that range for an extended period. Since then, XRP has only surpassed the $1 mark once, raising questions about when it might achieve this level again.
Despite the current market trends, analysts continue to hold optimistic expectations for XRP’s future.Analysts’ Positive Outlook
Analyst opinions play a crucial role in understanding different perspectives on cryptocurrencies. Recently, three analysts shared their bullish expectations for XRP, regardless of its ongoing price volatility.
First, EGRAG CRYPTO, known for his optimistic views on XRP, garnered attention with his comments. He stated, “#XRP 540 Days Since March 13, 2023! If you are shaken by these small moves, you don’t deserve the BIG MEGA RALLY coming! #XRPArmy STAY ALERT.”
Which Level Needs to Be Broken?
Another market analyst, Crypto Michael, highlighted a critical level for XRP. He noted that a significant price increase could occur once XRP breaches the $0.55 mark, potentially leading to a sharp rise.
Lastly, Amonyx, a closely followed analyst on X, excited investors with his positive outlook. He emphasized that patience is more crucial than the size of the investment when it comes to XRP.
Current Status and Key Insights
Despite the bullish sentiments, current indicators do not fully reflect this optimism:
XRP is trading at $0.5292 with a 0.12% increase in the last 24 hours. The coin experienced a 5.36% drop in the past week. XRP’s market cap stands at $29.8 billion. Trading volume has decreased to $491 million, showing a decline in interest.
These observations suggest that while analysts are hopeful, market conditions remain cautious.
#SEC #Ripple #Altcoins #CryptoNews $XRP $BTC $ETH
Top Analyst See BTC Potential Drop to $31,500? Here’s Why
Despite early hopes for a steady price rise with the start of a typically bullish Q4, Bitcoin is struggling to hold its ground, recently dropping to $54,000. Due to its ongoing bearish trend, prominent crypto analyst Ali Martinez has warned that Bitcoin could decline further, potentially dropping to $31,500. Here’s why analysts predict this drop.
Stark Warning: BTC Plunging To $31,500
In a recent tweet post, Ali Martinez pointed out that historically, Bitcoin tends to experience further declines once it falls below the Realized Price-to-Liveliness Ratio. This key metric, currently at $51,600, is an important indicator that tracks the cost basis of Bitcoin holders and the overall market activity.
If Bitcoin breaks below this level, Martinez believes the next stop could be $31,500, which is the Realized Price, an average price at which all Bitcoins in circulation are bought. This pattern has been observed in previous market cycles.
When Bitcoin drops below the Realized Price-to-Liveliness Ratio, it tends to continue its drop further until it reaches the Realized Price which is at $31,500.
Meanwhile, Martinez’s warning comes as Bitcoin has been struggling to maintain momentum after a recent market downturn, and the crypto market is closely watching these critical levels.
Bitcoin Price Action
As of now, bitcoin price is trading around $54,340, reflecting a rise of 1% seen in the past 24 hours. Despite this BTC trading volume has seen a drop of 62%, currently hovering at $18 billion, with a market cap of $1.07 trillion. At the same time, Bitcoin’s dominance in the market has dropped slightly to 56.81%, reflecting a 0.09% decrease in the last day.
Meanwhile, recent data from Soso shows Bitcoin ETFs experienced a major outflow of $706.19 million by September 6, the largest since these exchange-traded products were launched this year.
#Bitcoin #BTC #Cryptonews #USNonFarmPayrollReport #TON $BTC $ETH $BNB
Despite early hopes for a steady price rise with the start of a typically bullish Q4, Bitcoin is struggling to hold its ground, recently dropping to $54,000. Due to its ongoing bearish trend, prominent crypto analyst Ali Martinez has warned that Bitcoin could decline further, potentially dropping to $31,500. Here’s why analysts predict this drop.
Stark Warning: BTC Plunging To $31,500
In a recent tweet post, Ali Martinez pointed out that historically, Bitcoin tends to experience further declines once it falls below the Realized Price-to-Liveliness Ratio. This key metric, currently at $51,600, is an important indicator that tracks the cost basis of Bitcoin holders and the overall market activity.
If Bitcoin breaks below this level, Martinez believes the next stop could be $31,500, which is the Realized Price, an average price at which all Bitcoins in circulation are bought. This pattern has been observed in previous market cycles.
When Bitcoin drops below the Realized Price-to-Liveliness Ratio, it tends to continue its drop further until it reaches the Realized Price which is at $31,500.
Meanwhile, Martinez’s warning comes as Bitcoin has been struggling to maintain momentum after a recent market downturn, and the crypto market is closely watching these critical levels.
Bitcoin Price Action
As of now, bitcoin price is trading around $54,340, reflecting a rise of 1% seen in the past 24 hours. Despite this BTC trading volume has seen a drop of 62%, currently hovering at $18 billion, with a market cap of $1.07 trillion. At the same time, Bitcoin’s dominance in the market has dropped slightly to 56.81%, reflecting a 0.09% decrease in the last day.
Meanwhile, recent data from Soso shows Bitcoin ETFs experienced a major outflow of $706.19 million by September 6, the largest since these exchange-traded products were launched this year.
#Bitcoin #BTC #Cryptonews #USNonFarmPayrollReport #TON $BTC $ETH $BNB
Why Dogecoin Price May Retest $0.10 After Elon Musk’s Post
Elon Musk’s cryptic “D.O.G.E” post has once again breathed life into Dogecoin (DOGE), offering a potential recovery from its recent downturn. The billionaire CEO of Tesla has made similar posts on several occasions, and nearly every time, these mentions spark a rise in the meme coin’s value.
However, DOGE’s uptrend after similar events tend to be short-lived. This analysis explores whether the current situation might follow the pattern.
Elon Musk Continues to Give Dogecoin a Hand
On September 7, Musk posted again about the Department of Government Efficiency on X and followed it up with an AI-generated image featuring him and the acronym ” D.O.G.E.” Saturday was not the first time Musk, who also doubles as the owner of the X social media platform made such a post.
In August, BeInCrypto reported a similar development that affected Dogecoin’s price, causing it to jump by 6%. Furthermore, the post appears to be in line with the speculation that Musk might play a role in Donald Trump’s administration if he wins the November US election.
From an on-chain perspective, Musk’s recent action triggered a notable surge in the cryptocurrency’s social dominance. This spike implies an increase in the active discussion around DOGE.
Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know
Dogecoin Social Dominance. Source: Santiment
Historically, depending on the broader market condition, this sudden surge positively impacts the price. Consequently, DOGE has been able to notch a price increase while trading at $0.095.
However, according to data obtained from the top 20 exchanges, the meme coin might be able to sustain the price increase this time. According to IntoTheBlock, the broader market seems prepared to bid (buy) over 500 million coins, which are valued at over $50 million.
This value is much more than the 399 million coins allocated to be sold (ask). If the buy orders continue to outpace the sell side, DOGE’s price could begin a move higher than $0.095.
Dogecoin Exchange Onchain Market Depth. Source: IntoTheBlock
DOGE Price Prediction: Here Comes $0.10 Again
According to the 4-hour Dogecoin chart, the meme coin’s price moved from $0.090 to $0.096 after Elon Musk’s post. While it has retraced slightly to $0.095, the Moving Average Convergence Divergence (MACD) suggests that it could move higher.
The MACD is used to analyze price trends by assessing momentum through its histogram bars. When the indicator is below the signal line, bearish momentum dominates, signaling a potential price decline.
On the other hand, when it is above the signal line, it indicates bullish momentum, suggesting the price could rise. The slight divergence between the MACD and Dogecoin’s price hints at a positive outlook for the coin.
Read more: 10 Best Altcoin Exchanges In 2024
Dogecoin 4-Hour Analysis. Source: TradingView
As such, DOGE’s price could produce a 15% increase that takes it to $0.10. However, this forecast might not come to pass if selling pressure comes into play. If this happens, Dogecoin’s value might drop to $0.094 or as low as $0.088.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
#ElonMusk #Dogecoi #USNonFarmPayrollReport #TON #CryptoNews $DOGE $BTC $BNB
However, DOGE’s uptrend after similar events tend to be short-lived. This analysis explores whether the current situation might follow the pattern.
Elon Musk Continues to Give Dogecoin a Hand
On September 7, Musk posted again about the Department of Government Efficiency on X and followed it up with an AI-generated image featuring him and the acronym ” D.O.G.E.” Saturday was not the first time Musk, who also doubles as the owner of the X social media platform made such a post.
In August, BeInCrypto reported a similar development that affected Dogecoin’s price, causing it to jump by 6%. Furthermore, the post appears to be in line with the speculation that Musk might play a role in Donald Trump’s administration if he wins the November US election.
From an on-chain perspective, Musk’s recent action triggered a notable surge in the cryptocurrency’s social dominance. This spike implies an increase in the active discussion around DOGE.
Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know
Dogecoin Social Dominance. Source: Santiment
Historically, depending on the broader market condition, this sudden surge positively impacts the price. Consequently, DOGE has been able to notch a price increase while trading at $0.095.
However, according to data obtained from the top 20 exchanges, the meme coin might be able to sustain the price increase this time. According to IntoTheBlock, the broader market seems prepared to bid (buy) over 500 million coins, which are valued at over $50 million.
This value is much more than the 399 million coins allocated to be sold (ask). If the buy orders continue to outpace the sell side, DOGE’s price could begin a move higher than $0.095.
Dogecoin Exchange Onchain Market Depth. Source: IntoTheBlock
DOGE Price Prediction: Here Comes $0.10 Again
According to the 4-hour Dogecoin chart, the meme coin’s price moved from $0.090 to $0.096 after Elon Musk’s post. While it has retraced slightly to $0.095, the Moving Average Convergence Divergence (MACD) suggests that it could move higher.
The MACD is used to analyze price trends by assessing momentum through its histogram bars. When the indicator is below the signal line, bearish momentum dominates, signaling a potential price decline.
On the other hand, when it is above the signal line, it indicates bullish momentum, suggesting the price could rise. The slight divergence between the MACD and Dogecoin’s price hints at a positive outlook for the coin.
Read more: 10 Best Altcoin Exchanges In 2024
Dogecoin 4-Hour Analysis. Source: TradingView
As such, DOGE’s price could produce a 15% increase that takes it to $0.10. However, this forecast might not come to pass if selling pressure comes into play. If this happens, Dogecoin’s value might drop to $0.094 or as low as $0.088.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
#ElonMusk #Dogecoi #USNonFarmPayrollReport #TON #CryptoNews $DOGE $BTC $BNB
Solana (SOL) loses 12% of its value in the last seven days
Crypto Kaleo, a prominent crypto expert, forecasts that Solana (SOL) may experience a further decline to $120. This decline could perhaps serve as a foundation for a more robust upward movement, allowing for consolidation before trying to reach new record levels.
The expert accurately forecasted a decline in the price of Solana on August 27, and within three days, it dropped to $130. Today, the analyst reported that the value of cryptocurrencies has decreased by approximately 5% in the past 24 hours.
Solana reached its highest value ever (ATH) of $260 in November 2021. Earlier this year, the token reached $200, which led to discussion about a potential new ATH.
On the weekly chart, SOL seems to be exhibiting a recognizable pattern, resembling its descent from $204 to $78 in March 2022. Although the price may not decrease significantly, it will probably decline to $120 or possibly as low as $110.
Last month, the SEC classified Solana (SOL) as a possible security, affecting the launch of SOL ETFs. This has led to the Chicago Board Options Exchange (Cboe) withdrawing the 19b-4 forms from its website, causing a delay in the certification process. The SEC concerns have also led to the withdrawal of VanEck and 21Shares’ 19b-4 forms from Cboe Global Markets’ website.
#SOL #Solana #USDataImpact #CryptoNews #TON $SOL $BTC $ETH
Crypto Kaleo, a prominent crypto expert, forecasts that Solana (SOL) may experience a further decline to $120. This decline could perhaps serve as a foundation for a more robust upward movement, allowing for consolidation before trying to reach new record levels.
The expert accurately forecasted a decline in the price of Solana on August 27, and within three days, it dropped to $130. Today, the analyst reported that the value of cryptocurrencies has decreased by approximately 5% in the past 24 hours.
Solana reached its highest value ever (ATH) of $260 in November 2021. Earlier this year, the token reached $200, which led to discussion about a potential new ATH.
On the weekly chart, SOL seems to be exhibiting a recognizable pattern, resembling its descent from $204 to $78 in March 2022. Although the price may not decrease significantly, it will probably decline to $120 or possibly as low as $110.
Last month, the SEC classified Solana (SOL) as a possible security, affecting the launch of SOL ETFs. This has led to the Chicago Board Options Exchange (Cboe) withdrawing the 19b-4 forms from its website, causing a delay in the certification process. The SEC concerns have also led to the withdrawal of VanEck and 21Shares’ 19b-4 forms from Cboe Global Markets’ website.
#SOL #Solana #USDataImpact #CryptoNews #TON $SOL $BTC $ETH
DOGS Token Price Rally: Is a 35% Surge on the Horizon?
Highly publicized dog-themed meme coin based on the Telegram-backed Toncoin (TON) network, Dogs (DOGS), has played a crucial role in onboarding more users to the web3 space. In less than a week after its official trading launch on several centralized exchanges, the Dogs meme project has achieved major milestones including nearly 1 million on-chain holders.
As a result, the Dogs meme coin has grown to a mid-cap altcoin with a fully diluted valuation of about $608 million and a daily average traded volume of more than $440 million.
Dogs Impact on Toncoin Network
The highly liquid project has marketed itself as the most Telegram-native meme coin community. The notable Dogs’ success in its initial phase has played a crucial role in democratizing the Toncoin network.
Furthermore, the Toncoin network is celebrating 1 billion transitions achieved in the past year alone. Despite the recent network outages caused by huge demand for Dogs meme coins and other tokens, the Toncoin blockchain has reassured users of scalable solutions in the future in a secure environment.
The Toncoin network is among the top-tier web3 ecosystems, with over $351 million in total value locked and more than $619 million in stablecoins supply.
Midterm Price Action
The Dogs meme coin has gained popularity among speculative traders due to its launch process that prioritized the community. As a result, the Dogs meme coin, which was inspired by Pavel Durov’s mascot dubbed Spotty, has been consolidating in preparation for a bullish breakout.
From a technical standpoint, DOGS price has been retesting a crucial support range around $0.0011 in the past two days, after breaking out of a four-hour falling logarithmic trend. A consistent close above $0.001166 will propel DOGS towards the next target around $0.0015, which coincided with the four-hour 0.618 Fibonacci Retracement.
#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #DOGS $DOGS $BTC $ETH
Highly publicized dog-themed meme coin based on the Telegram-backed Toncoin (TON) network, Dogs (DOGS), has played a crucial role in onboarding more users to the web3 space. In less than a week after its official trading launch on several centralized exchanges, the Dogs meme project has achieved major milestones including nearly 1 million on-chain holders.
As a result, the Dogs meme coin has grown to a mid-cap altcoin with a fully diluted valuation of about $608 million and a daily average traded volume of more than $440 million.
Dogs Impact on Toncoin Network
The highly liquid project has marketed itself as the most Telegram-native meme coin community. The notable Dogs’ success in its initial phase has played a crucial role in democratizing the Toncoin network.
Furthermore, the Toncoin network is celebrating 1 billion transitions achieved in the past year alone. Despite the recent network outages caused by huge demand for Dogs meme coins and other tokens, the Toncoin blockchain has reassured users of scalable solutions in the future in a secure environment.
The Toncoin network is among the top-tier web3 ecosystems, with over $351 million in total value locked and more than $619 million in stablecoins supply.
Midterm Price Action
The Dogs meme coin has gained popularity among speculative traders due to its launch process that prioritized the community. As a result, the Dogs meme coin, which was inspired by Pavel Durov’s mascot dubbed Spotty, has been consolidating in preparation for a bullish breakout.
From a technical standpoint, DOGS price has been retesting a crucial support range around $0.0011 in the past two days, after breaking out of a four-hour falling logarithmic trend. A consistent close above $0.001166 will propel DOGS towards the next target around $0.0015, which coincided with the four-hour 0.618 Fibonacci Retracement.
#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #DOGS $DOGS $BTC $ETH
Investors Sell Shiba Coin Due to Weak Demand
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The growing competition among meme coins, coupled with a general lack of investor interest, has created a challenging environment.
Bitcoin, after reaching a peak this year, has struggled to maintain demand above $70,000. Complications in the ETF market are further exacerbating overall conditions. Amid this backdrop, Shiba Coin’s position remains uncertain. What are the current trends and what can investors anticipate going forward?
Weakness in Shiba Inu (SHIB)
Despite lower-than-expected PCE data and the first Federal Reserve rate cut in 19 days, interest in altcoins remains subdued. Bitcoin has dipped below $58,000, and Shiba Coin holders continue to liquidate. The Realized Loss indicator, which peaked in August, now signals similar levels last seen during the July decline.
Significant realized losses are driving investors to sell, further confirming the downward trend for Shiba Coin. The Relative Strength Index (RSI) shows that SHIB has been below the neutral zone for an extended period, indicating a long-standing decline in investor enthusiasm.
What About Other Meme Coins?
Newer meme coins like PEPE Coin and FLOKI are also experiencing weakness, making Shiba Coin’s situation predictable. This trend causes any upward movement by Bitcoin to be seen as a selling opportunity for Shiba Coin and similar assets.
At present, Bitcoin is trading at $58,080, having hit a daily low of $57,946. The weekend appears bleak, known for its low trading volume.
Key Takeaways for Investors
– Monitor the Realized Loss indicator for signs of increased selling pressure.
– Watch the RSI for confirmation of downward trends.
– Be cautious of weekend trading due to historically low volumes.
– Note that Bitcoin’s movements heavily influence meme coin prices.
#ShibaInu #Dogecoin #Memecoins #CryptoNews $DOGE $SHIB $BTC
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The growing competition among meme coins, coupled with a general lack of investor interest, has created a challenging environment.
Bitcoin, after reaching a peak this year, has struggled to maintain demand above $70,000. Complications in the ETF market are further exacerbating overall conditions. Amid this backdrop, Shiba Coin’s position remains uncertain. What are the current trends and what can investors anticipate going forward?
Weakness in Shiba Inu (SHIB)
Despite lower-than-expected PCE data and the first Federal Reserve rate cut in 19 days, interest in altcoins remains subdued. Bitcoin has dipped below $58,000, and Shiba Coin holders continue to liquidate. The Realized Loss indicator, which peaked in August, now signals similar levels last seen during the July decline.
Significant realized losses are driving investors to sell, further confirming the downward trend for Shiba Coin. The Relative Strength Index (RSI) shows that SHIB has been below the neutral zone for an extended period, indicating a long-standing decline in investor enthusiasm.
What About Other Meme Coins?
Newer meme coins like PEPE Coin and FLOKI are also experiencing weakness, making Shiba Coin’s situation predictable. This trend causes any upward movement by Bitcoin to be seen as a selling opportunity for Shiba Coin and similar assets.
At present, Bitcoin is trading at $58,080, having hit a daily low of $57,946. The weekend appears bleak, known for its low trading volume.
Key Takeaways for Investors
– Monitor the Realized Loss indicator for signs of increased selling pressure.
– Watch the RSI for confirmation of downward trends.
– Be cautious of weekend trading due to historically low volumes.
– Note that Bitcoin’s movements heavily influence meme coin prices.
#ShibaInu #Dogecoin #Memecoins #CryptoNews $DOGE $SHIB $BTC
Bitcoin touches $58k again as analysts share bearish forecasts
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Bitcoin fell to lows of $57,700 on Coinbase as prices dipped during the US trading session.
Analysts predict further weakness is likely, and here’s what they are saying
At the time of writing, Bitcoin (BTC) traded around $58,486 across major crypto exchanges. However, the digital asset’s price had touched lows of $57,700 on US-based crypto exchange Coinbase amid fresh selling pressure.
Notably, before this latest dump, crypto analyst Miles Deutscher had shared an observation: the last few weeks have seen prices rise during Asian hours and dip during US trading hours.
Potential downside to $56k?
CryptoQuant head of research Julio Moreno suggests the $56k area remains key. If the price falls below this, the analyst sees a further weakness. According to Moreno, Bitcoin’s market cycle indicator has flashed bearish again and BTC risks a deeper correction below the demand zone.
“From a valuation perspective, if the price pierces $56K to the downside, risks of a larger correction increase,” the CryptoQuant analyst noted.
Could Bitcoin see $40 next?
Altcoin Sherpa is outright bearish on BTC price. The crypto analyst shared a chart that suggests the dip is likely to extend to $40k.
The last time Bitcoin traded at these levels was in January, when prices retreated from above $46k to revisit $39k. That’s before bulls saw BTC skyrocket amid the halving sentiment and spot Bitcoin exchange-traded funds approval to reach the all-time high above $73k.
BTC price is down 12% in the past month and over -21% since its all-time high in March as of 1:30 pm ET on August 30, 2024.
#BTC #Bitcoin #CryptoNews #TON #TelegramCEO $BTC $ETH $BNB
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Bitcoin fell to lows of $57,700 on Coinbase as prices dipped during the US trading session.
Analysts predict further weakness is likely, and here’s what they are saying
At the time of writing, Bitcoin (BTC) traded around $58,486 across major crypto exchanges. However, the digital asset’s price had touched lows of $57,700 on US-based crypto exchange Coinbase amid fresh selling pressure.
Notably, before this latest dump, crypto analyst Miles Deutscher had shared an observation: the last few weeks have seen prices rise during Asian hours and dip during US trading hours.
Potential downside to $56k?
CryptoQuant head of research Julio Moreno suggests the $56k area remains key. If the price falls below this, the analyst sees a further weakness. According to Moreno, Bitcoin’s market cycle indicator has flashed bearish again and BTC risks a deeper correction below the demand zone.
“From a valuation perspective, if the price pierces $56K to the downside, risks of a larger correction increase,” the CryptoQuant analyst noted.
Could Bitcoin see $40 next?
Altcoin Sherpa is outright bearish on BTC price. The crypto analyst shared a chart that suggests the dip is likely to extend to $40k.
The last time Bitcoin traded at these levels was in January, when prices retreated from above $46k to revisit $39k. That’s before bulls saw BTC skyrocket amid the halving sentiment and spot Bitcoin exchange-traded funds approval to reach the all-time high above $73k.
BTC price is down 12% in the past month and over -21% since its all-time high in March as of 1:30 pm ET on August 30, 2024.
#BTC #Bitcoin #CryptoNews #TON #TelegramCEO $BTC $ETH $BNB
Nvidia, Apple, and Microsoft pursue OpenAI in $100 billion funding round
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Nvidia, Apple, and Microsoft are reportedly exploring opportunities to invest in OpenAI, the company behind ChatGPT. The investment is part of a new funding round featuring Thrive Capital, which could give OpenAI a valuation of more than $100 billion, the New York Times reported.
The funding round led by Thrive Capital, with an expected investment of around $1 billion, may have all three tech giants supporting OpenAI. Microsoft has been a key player in OpenAI’s growth, owning 49% of the company’s income since injecting $13 billion in 2019. This has enabled Microsoft to integrate OpenAI in its products, such as Azure, the Edge browser, and the Bing search engine.
Nvidia and Apple unveil AI plans and seek market dominance
In June, at the annual Worldwide Developer Conference (WWDC), Apple announced that it would integrate OpenAI’s ChatGPT into its devices like iPads, iPhones, Vision Pro headsets, and Macbooks.
Nvidia, which controls about 80% of the market for AI chips, could also benefit from the cooperation with OpenAI. If Nvidia is able to remain the primary hardware supplier in the development of AI, this investment will only help further solidify its position in the market. OpenAI needs high-performance computing, which is something that Nvidia does best, and therefore, this partnership is mutually beneficial for both companies.
OpenAI’s financial stability has come under question. It has been reported that the company intends to invest about $7 billion in AI training. Additionally, $1.5 billion has been set for hiring in the next year.
#Nividia #Apple #OpenAI #CryptoNews #TON $BTC $ETH $SOL
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Nvidia, Apple, and Microsoft are reportedly exploring opportunities to invest in OpenAI, the company behind ChatGPT. The investment is part of a new funding round featuring Thrive Capital, which could give OpenAI a valuation of more than $100 billion, the New York Times reported.
The funding round led by Thrive Capital, with an expected investment of around $1 billion, may have all three tech giants supporting OpenAI. Microsoft has been a key player in OpenAI’s growth, owning 49% of the company’s income since injecting $13 billion in 2019. This has enabled Microsoft to integrate OpenAI in its products, such as Azure, the Edge browser, and the Bing search engine.
Nvidia and Apple unveil AI plans and seek market dominance
In June, at the annual Worldwide Developer Conference (WWDC), Apple announced that it would integrate OpenAI’s ChatGPT into its devices like iPads, iPhones, Vision Pro headsets, and Macbooks.
Nvidia, which controls about 80% of the market for AI chips, could also benefit from the cooperation with OpenAI. If Nvidia is able to remain the primary hardware supplier in the development of AI, this investment will only help further solidify its position in the market. OpenAI needs high-performance computing, which is something that Nvidia does best, and therefore, this partnership is mutually beneficial for both companies.
OpenAI’s financial stability has come under question. It has been reported that the company intends to invest about $7 billion in AI training. Additionally, $1.5 billion has been set for hiring in the next year.
#Nividia #Apple #OpenAI #CryptoNews #TON $BTC $ETH $SOL
Cardano (ADA) Price Could Decline 10%, Here’s Why
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In this bearish market sentiment, the majority of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are experiencing significant selling pressure.
Amid this market downturn, Cardano (ADA) also appears bearish and may face a substantial price decline despite the accumulation of millions of tokens by whales.
Cardano Whales Added 170 Million ADA Tokens
According to the on-chain analytic firm Santiment, Cardano Whales holding over 100 million ADA tokens have added over 170 million tokens between August 27 and August 30, 2024.
This massive accumulation ahead of Cardano’s highly anticipated Chang Hard Fork update was initially considered a bullish outlook for ADA.
Cardano Price Prediction
However, due to the bearish market sentiment on August 30, 2024, ADA has experienced a crucial breakout down of the ascending trendline. Since August 5, 2024, ADA has taken multiple support of this trendline, and each time it has seen an upside rally. Following this recent breakdown, there is a high possibility it could fall by 10% to the $0.305 level.
Currently, ADA is in a downtrend as it is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. However, its Relative Strength Index (RSI) is in an oversold area indicating a potential price reversal.
ADA’s Key Liquidation Levels
However, ADA short sellers are dominating the asset and liquidating long positions. According to the on-chain analytic firm CoinGlass, the ADA exchange liquidation map indicator signals short sellers have huge potential to liquidate millions worth of long positions.
Currently, the major liquidation levels are near $0.337 on the lower side and $0.365 level on the upper side, as traders have been over-leveraged at these levels.
#Cradano #ADA #Altcoins #TON #DOGSONBINANCE $ADA $BTC $SOL
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In this bearish market sentiment, the majority of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are experiencing significant selling pressure.
Amid this market downturn, Cardano (ADA) also appears bearish and may face a substantial price decline despite the accumulation of millions of tokens by whales.
Cardano Whales Added 170 Million ADA Tokens
According to the on-chain analytic firm Santiment, Cardano Whales holding over 100 million ADA tokens have added over 170 million tokens between August 27 and August 30, 2024.
This massive accumulation ahead of Cardano’s highly anticipated Chang Hard Fork update was initially considered a bullish outlook for ADA.
Cardano Price Prediction
However, due to the bearish market sentiment on August 30, 2024, ADA has experienced a crucial breakout down of the ascending trendline. Since August 5, 2024, ADA has taken multiple support of this trendline, and each time it has seen an upside rally. Following this recent breakdown, there is a high possibility it could fall by 10% to the $0.305 level.
Currently, ADA is in a downtrend as it is trading below the 200 Exponential Moving Average (EMA) on a daily time frame. However, its Relative Strength Index (RSI) is in an oversold area indicating a potential price reversal.
ADA’s Key Liquidation Levels
However, ADA short sellers are dominating the asset and liquidating long positions. According to the on-chain analytic firm CoinGlass, the ADA exchange liquidation map indicator signals short sellers have huge potential to liquidate millions worth of long positions.
Currently, the major liquidation levels are near $0.337 on the lower side and $0.365 level on the upper side, as traders have been over-leveraged at these levels.
#Cradano #ADA #Altcoins #TON #DOGSONBINANCE $ADA $BTC $SOL
Crypto Analysts Spot Buy Signal: Bitcoin Nears Recovery
Bitcoin shows a recovery signal on the 12-hour chart, suggesting upward momentum.
Despite facing resistance at $65,000, Bitcoin finds strong support at $58,000.
The consolidation phase, with minor gains and declines, highlights market instability.
Bitcoin is currently showing signs of a potential recovery, as noted by crypto analysts, with a buy signal on the 12-hour chart via the TD Sequential indicator. The analysis covers Bitcoin’s market behavior from August 26 to August 30, 2024. Following a significant drop to $59,000 on August 27 from a high of $64,000, the market has entered a consolidation phase.
This period is characterized by minor gains and slight declines, as shown in green and red candlesticks that mark Bitcoin’s unstable trading range. The latest update on August 30 shows a small green arrow on Bitcoin’s chart, hinting at possible upward movement in the near future. Despite these fluctuations, Bitcoin remains below the $60,000 threshold, struggling to climb back to its recent peak.
In another analysis, crypto analyst Jelle has highlighted Bitcoin’s struggles near the $65,000 resistance level. According to his analysis of the daily chart, Bitcoin has consistently failed to surpass this barrier, marked by numerous rejections indicating a robust sell-off each time it nears this threshold.
Meanwhile, Bitcoin has found support around the $58,000 mark, bouncing back multiple times, underscoring the buyers’ lower-level presence. Over the past 24 hours, Bitcoin has seen a slight decrease in its price, at $59,493 at press time, marking a 1.45% drop. The cryptocurrency experienced fluctuations between a low of $58,707 and a high of $61,184 during this period. Despite today’s dip, Bitcoin’s price remains significantly volatile as it navigates challenging market conditions.
#Bitcoin #BTC #CryptoNews #TON #BNBChainMemecoins $BTC $ETH $SOL
Bitcoin shows a recovery signal on the 12-hour chart, suggesting upward momentum.
Despite facing resistance at $65,000, Bitcoin finds strong support at $58,000.
The consolidation phase, with minor gains and declines, highlights market instability.
Bitcoin is currently showing signs of a potential recovery, as noted by crypto analysts, with a buy signal on the 12-hour chart via the TD Sequential indicator. The analysis covers Bitcoin’s market behavior from August 26 to August 30, 2024. Following a significant drop to $59,000 on August 27 from a high of $64,000, the market has entered a consolidation phase.
This period is characterized by minor gains and slight declines, as shown in green and red candlesticks that mark Bitcoin’s unstable trading range. The latest update on August 30 shows a small green arrow on Bitcoin’s chart, hinting at possible upward movement in the near future. Despite these fluctuations, Bitcoin remains below the $60,000 threshold, struggling to climb back to its recent peak.
In another analysis, crypto analyst Jelle has highlighted Bitcoin’s struggles near the $65,000 resistance level. According to his analysis of the daily chart, Bitcoin has consistently failed to surpass this barrier, marked by numerous rejections indicating a robust sell-off each time it nears this threshold.
Meanwhile, Bitcoin has found support around the $58,000 mark, bouncing back multiple times, underscoring the buyers’ lower-level presence. Over the past 24 hours, Bitcoin has seen a slight decrease in its price, at $59,493 at press time, marking a 1.45% drop. The cryptocurrency experienced fluctuations between a low of $58,707 and a high of $61,184 during this period. Despite today’s dip, Bitcoin’s price remains significantly volatile as it navigates challenging market conditions.
#Bitcoin #BTC #CryptoNews #TON #BNBChainMemecoins $BTC $ETH $SOL
Telegram CEO Under Formal Investigation; Bail Set for $5.56M
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Telegram CEO has been released from police custody and moved to Court on Wednesday.
Durov is required to report twice a week to the police and is barred from leaving France.
Toncoin, the native coin of Telegram, is now operational after another block interruption.
Telegram CEO Pavel Durov was released on Wednesday but not freed. The Russian-born billionaire was released from police custody but transferred to Court for further questioning. In a statement, a French prosecutor disclosed that Durov is still under judicial investigation and cannot leave France.
Durov gets bail
Durov was released from police custody earlier in the day on bail of $5.56 million, nearly 5 million euros. He was also instructed to report twice a week to the French police and barred from leaving French soil. The formal judicial investigation was announced in the evening. Notably, when placed under judicial investigation, it does not necessarily imply guilt or trial charge; however, it may favor a serious investigation.
No response to Court requests
Durov has not been formally charged. Although he was detained by the French government under 12 charges, at the time of release from police custody, six of the charges were removed. Currently, he has to prove innocence on other charges that include drug trafficking, distribution of sexual images of minors, and online hate speech.
Reportedly, the French National Office for Minors stated to the prosecutor’s office that it did not receive a response to the official Court requests sent to the Telegram platform. However, a probe is being conducted to find if someone had used the Telegram platform to perform these activities illegally.
#TelegramCEO #TON #PavelDurov #CryptoNews #Bitcoin $TON $BTC $ETH
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Telegram CEO has been released from police custody and moved to Court on Wednesday.
Durov is required to report twice a week to the police and is barred from leaving France.
Toncoin, the native coin of Telegram, is now operational after another block interruption.
Telegram CEO Pavel Durov was released on Wednesday but not freed. The Russian-born billionaire was released from police custody but transferred to Court for further questioning. In a statement, a French prosecutor disclosed that Durov is still under judicial investigation and cannot leave France.
Durov gets bail
Durov was released from police custody earlier in the day on bail of $5.56 million, nearly 5 million euros. He was also instructed to report twice a week to the French police and barred from leaving French soil. The formal judicial investigation was announced in the evening. Notably, when placed under judicial investigation, it does not necessarily imply guilt or trial charge; however, it may favor a serious investigation.
No response to Court requests
Durov has not been formally charged. Although he was detained by the French government under 12 charges, at the time of release from police custody, six of the charges were removed. Currently, he has to prove innocence on other charges that include drug trafficking, distribution of sexual images of minors, and online hate speech.
Reportedly, the French National Office for Minors stated to the prosecutor’s office that it did not receive a response to the official Court requests sent to the Telegram platform. However, a probe is being conducted to find if someone had used the Telegram platform to perform these activities illegally.
#TelegramCEO #TON #PavelDurov #CryptoNews #Bitcoin $TON $BTC $ETH
OpenSea Fires Back at SEC But Overlooks Ripple’s Landmark Victory
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The legal battle of OpenSea with the SEC raises questions regarding the status of NFTs as securities, which may concern many artists and creators.
Responding to the SEC’s action to regulate NFTs is likely to stifle the growth of digital art since its artists depend on these assets for their income.
OpenSea pledges to offer to spend $5 million to cover legal expenses for NFT creators and developers in response to support for their work.
OpenSea, the leading non-fungible token (NFT) marketplace, is gearing up for a legal battle with the U.S. Securities and Exchange Commission (SEC) as it receives the Wells notice.
This notification puts the SEC on the record regarding potential enforcement action, claiming that some of the NFTs listed on OpenSea might be securities. The marketplace questioned the SEC’s decision and reasons, saying that this move seeks to lock out many creators and artists who depend on NFTs for their income.
This response from OpenSea sheds light on the possible detrimental effects on innovation and the future of many digital artists. The platform stressed that NFTs are distinct digital assets that reflect creative products such as art, collectibles, and items in games, which should not be classified as financial assets.
Many people in the community are concerned that categorizing NFTs as securities will hamper innovation and limit the economic benefits NFTs bring to artists worldwide.
The possibility of the SEC categorizing some NFTs as securities could bring significant implications. Unfortunately, most artists and developers who rely on NFTs to make a living may find themselves in legal situations for which they could be more suited.
#OpenSea #SEC #CryptoNews #TON #DOGSONBINANCE $BTC $ETH $BNB
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The legal battle of OpenSea with the SEC raises questions regarding the status of NFTs as securities, which may concern many artists and creators.
Responding to the SEC’s action to regulate NFTs is likely to stifle the growth of digital art since its artists depend on these assets for their income.
OpenSea pledges to offer to spend $5 million to cover legal expenses for NFT creators and developers in response to support for their work.
OpenSea, the leading non-fungible token (NFT) marketplace, is gearing up for a legal battle with the U.S. Securities and Exchange Commission (SEC) as it receives the Wells notice.
This notification puts the SEC on the record regarding potential enforcement action, claiming that some of the NFTs listed on OpenSea might be securities. The marketplace questioned the SEC’s decision and reasons, saying that this move seeks to lock out many creators and artists who depend on NFTs for their income.
This response from OpenSea sheds light on the possible detrimental effects on innovation and the future of many digital artists. The platform stressed that NFTs are distinct digital assets that reflect creative products such as art, collectibles, and items in games, which should not be classified as financial assets.
Many people in the community are concerned that categorizing NFTs as securities will hamper innovation and limit the economic benefits NFTs bring to artists worldwide.
The possibility of the SEC categorizing some NFTs as securities could bring significant implications. Unfortunately, most artists and developers who rely on NFTs to make a living may find themselves in legal situations for which they could be more suited.
#OpenSea #SEC #CryptoNews #TON #DOGSONBINANCE $BTC $ETH $BNB
Here’s Why Popcat Rules the 7-Day Charts
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The seven-day chart wasn’t exactly a catastrophe for major crypto assets Wednesday, but most top coins were in the red. That included a 3% slide for Bitcoin after a sudden drop in open interest for BTC futures among institutional crypto investors.
Meanwhile, Popcat showed special strength among meme coins. Most blue chip memes were down for the week, like Dogecoin (-6%), Pepe (-2%), and Bonk (-2%). But Popcat posted astounding 52% weekly gains by the middle of the day Chicago time Wednesday.
Among other ongoing support for Popcat’s price, such as its large market cap (above $600 million this week), high liquidity, and strong meme community, Binance recently offered a crypto derivatives product for the Solana cat meme coin. The exchange announced the new Popcat product a week ago on Thursday, Aug. 22.
For the filthy degenerate who doesn’t find 52% weekly price gains on a meme coin exciting enough, Binance listed Popcat-USDT perpetual futures contracts with up to 75x leverage on its menu.
The company also listed futures contracts for Tron’s SUN tokens at the same time, helping the $300 million governance and utility token to fly up the charts by 91%, according to CoinMarketCap data.
Lookonchain spotted a whale-sized, $5 million purchase of Popcat using SOL tokens on Aug. 22. That probably chummed up the waters for the Popcat crowd.
Solana was the only top 10 crypto that was up for the week ending Wednesday. So that might have been why crypto markets rewarded one of its leading meme coins with massive gains.
Over the past year, enthusiasm for Solana and Ethereum’s competitor’s meme coins has been unstoppable. That was clear enough with the market-beating Bonk rally in Q4. Bonk is Solana’s answer to Ethereum’s Shiba Inu.
#PopCat #CATS #DOGS #Memecoins #Solana $SOL $DOGS $BTC
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The seven-day chart wasn’t exactly a catastrophe for major crypto assets Wednesday, but most top coins were in the red. That included a 3% slide for Bitcoin after a sudden drop in open interest for BTC futures among institutional crypto investors.
Meanwhile, Popcat showed special strength among meme coins. Most blue chip memes were down for the week, like Dogecoin (-6%), Pepe (-2%), and Bonk (-2%). But Popcat posted astounding 52% weekly gains by the middle of the day Chicago time Wednesday.
Among other ongoing support for Popcat’s price, such as its large market cap (above $600 million this week), high liquidity, and strong meme community, Binance recently offered a crypto derivatives product for the Solana cat meme coin. The exchange announced the new Popcat product a week ago on Thursday, Aug. 22.
For the filthy degenerate who doesn’t find 52% weekly price gains on a meme coin exciting enough, Binance listed Popcat-USDT perpetual futures contracts with up to 75x leverage on its menu.
The company also listed futures contracts for Tron’s SUN tokens at the same time, helping the $300 million governance and utility token to fly up the charts by 91%, according to CoinMarketCap data.
Lookonchain spotted a whale-sized, $5 million purchase of Popcat using SOL tokens on Aug. 22. That probably chummed up the waters for the Popcat crowd.
Solana was the only top 10 crypto that was up for the week ending Wednesday. So that might have been why crypto markets rewarded one of its leading meme coins with massive gains.
Over the past year, enthusiasm for Solana and Ethereum’s competitor’s meme coins has been unstoppable. That was clear enough with the market-beating Bonk rally in Q4. Bonk is Solana’s answer to Ethereum’s Shiba Inu.
#PopCat #CATS #DOGS #Memecoins #Solana $SOL $DOGS $BTC
Toncoin and Notcoin Ready for a Rally With Durov’s Bail?
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The broader market remains volatile, with the BTC price back under the $60K mark. Amid this, the volatility increases for the Toncoin and Notcoin with Parel Durov’s case. As Durov gets out by paying a bail amount of $5.56 Million, the altcoins are turning positive momentarily. Will this recovery reclaim the lost levels of last week?
Will TON Price Hold $5 Support?
Following the massive crash over the weekend, the TON price shows a bullish hold over the $5 support level. However, the bullish dominance at the 200-day EMA has been compromised resulting in a downtick in the 50-day EMA.
With the increased chances of a death cross, the EMAs give a SELL signal for the Toncoin. Further, with the bullish resurgence with the bearish exhaustion and Durov’s bail, the TON price is moving up, 7.80% in the last two days.
The TON price is trading at $5.53 with a Doji intraday candle despite a 98%% surge in trading volume. A bullish trend ahead can result in a price jump to the $6.11 mark if it exceeds the 200-day EMA in the short term.
NOT Price Bull Cycle Amid Volatile Market
With the bearish trend extension, the NOT price shows a falling wedge in the daily chart. The weekend correction for Notcoin aligns with the negative cycle within the pattern and tests the bottom support trendline.
Further, the MACD indicator shows an intense bearish trend while positive crossover chances are improving. The altcoin has increased by 7.10% in the past two days and is currently trading at $0.0090.
With a potential bull cycle ahead, the NOT price eyes the overhead trendline and the 50-day EMA. Further, approaching the bottleneck portion of the pattern, the TON price is ready for a decisive move and breaking the pattern.
#Toncoin #Notcoin #TON #NOT #Altcoins $NOT $TON $BTC
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The broader market remains volatile, with the BTC price back under the $60K mark. Amid this, the volatility increases for the Toncoin and Notcoin with Parel Durov’s case. As Durov gets out by paying a bail amount of $5.56 Million, the altcoins are turning positive momentarily. Will this recovery reclaim the lost levels of last week?
Will TON Price Hold $5 Support?
Following the massive crash over the weekend, the TON price shows a bullish hold over the $5 support level. However, the bullish dominance at the 200-day EMA has been compromised resulting in a downtick in the 50-day EMA.
With the increased chances of a death cross, the EMAs give a SELL signal for the Toncoin. Further, with the bullish resurgence with the bearish exhaustion and Durov’s bail, the TON price is moving up, 7.80% in the last two days.
The TON price is trading at $5.53 with a Doji intraday candle despite a 98%% surge in trading volume. A bullish trend ahead can result in a price jump to the $6.11 mark if it exceeds the 200-day EMA in the short term.
NOT Price Bull Cycle Amid Volatile Market
With the bearish trend extension, the NOT price shows a falling wedge in the daily chart. The weekend correction for Notcoin aligns with the negative cycle within the pattern and tests the bottom support trendline.
Further, the MACD indicator shows an intense bearish trend while positive crossover chances are improving. The altcoin has increased by 7.10% in the past two days and is currently trading at $0.0090.
With a potential bull cycle ahead, the NOT price eyes the overhead trendline and the 50-day EMA. Further, approaching the bottleneck portion of the pattern, the TON price is ready for a decisive move and breaking the pattern.
#Toncoin #Notcoin #TON #NOT #Altcoins $NOT $TON $BTC
