CryptoTrends2024
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Biden-Trump Debate: Crypto Goes Completely Unmentioned
In the first head-to-head debate between President Joe Biden and former President Donald Trump, cryptocurrency was conspicuously absent from the discussion, despite the substantial financial influence of crypto lobbyists in the current election cycle.
Debate Overview
The debate, hosted by CNN on June 27, focused on major topics such as economic plans, abortion rights, immigration, and foreign policy. It also briefly addressed the mental capabilities of both candidates, with Biden at 81 and Trump at 78, being the oldest presidential candidates in U.S. history.
Despite the crypto industry raising significant funds to influence the elections, neither candidate mentioned cryptocurrency. Three crypto-backed super political action committees (PACs) have collectively raised $202.8 million and spent $93.6 million in an effort to sway the 2024 elections, but this did not translate into any discussion on crypto policy during the debate.
Political Spending and Influence
According to OpenSecrets, Fairshake PAC has raised $177.8 million and spent $70.8 million of it primarily on attack ads for congressional candidates. Two other super PACs, Protect Progress and Defend American Jobs, have collectively spent $22.8 million after raising $25 million. These PACs rank third in terms of fundraising among all PACs and can accept unlimited donations, although they are prohibited from coordinating directly with campaigns.
Candidates' Stance on Crypto
If re-elected, Trump has promised to end what he calls Biden’s “war on crypto” and recently met with Bitcoin miners, expressing his desire for the cryptocurrency to be “made in America.” On the other hand, some industry leaders, like Kraken CEO Dave Ripley, believe Biden is becoming more favorable towards crypto. However, others, such as crypto advocate Mark Cuban, criticize the U.S. Securities and Exchange Commission’s enforcement actions under Gary Gensler, suggesting they could negatively impact Biden’s re-election chances.
Voter Priorities and Independent Candidates
Gallup polls from May indicate that American voters do not prioritize crypto, with the economy, inflation, poor governance, and immigration being the top concerns. Independent candidate Robert F. Kennedy Jr., a vocal crypto supporter, did not meet CNN’s requirements to participate in the debate and accused the network of "rigging the rules." Instead, he hosted an alternative debate on social media, where he reiterated his plan to use AI and blockchain to reduce government waste.
Polls and Future Debates
As of a June 27 FiveThirtyEight poll, Trump leads Biden by a slim margin of 0.2 percentage points (41.1% to 40.9%), with Kennedy polling at 9.1%. The second debate between Biden and Trump is scheduled for September 10, with the presidential and vice-presidential elections, along with all 435 House seats and 34 Senate seats, set for November 5.
#crypto #CryptoTrends2024 #Trump #Biden
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Debate Overview
The debate, hosted by CNN on June 27, focused on major topics such as economic plans, abortion rights, immigration, and foreign policy. It also briefly addressed the mental capabilities of both candidates, with Biden at 81 and Trump at 78, being the oldest presidential candidates in U.S. history.
Despite the crypto industry raising significant funds to influence the elections, neither candidate mentioned cryptocurrency. Three crypto-backed super political action committees (PACs) have collectively raised $202.8 million and spent $93.6 million in an effort to sway the 2024 elections, but this did not translate into any discussion on crypto policy during the debate.
Political Spending and Influence
According to OpenSecrets, Fairshake PAC has raised $177.8 million and spent $70.8 million of it primarily on attack ads for congressional candidates. Two other super PACs, Protect Progress and Defend American Jobs, have collectively spent $22.8 million after raising $25 million. These PACs rank third in terms of fundraising among all PACs and can accept unlimited donations, although they are prohibited from coordinating directly with campaigns.
Candidates' Stance on Crypto
If re-elected, Trump has promised to end what he calls Biden’s “war on crypto” and recently met with Bitcoin miners, expressing his desire for the cryptocurrency to be “made in America.” On the other hand, some industry leaders, like Kraken CEO Dave Ripley, believe Biden is becoming more favorable towards crypto. However, others, such as crypto advocate Mark Cuban, criticize the U.S. Securities and Exchange Commission’s enforcement actions under Gary Gensler, suggesting they could negatively impact Biden’s re-election chances.
Voter Priorities and Independent Candidates
Gallup polls from May indicate that American voters do not prioritize crypto, with the economy, inflation, poor governance, and immigration being the top concerns. Independent candidate Robert F. Kennedy Jr., a vocal crypto supporter, did not meet CNN’s requirements to participate in the debate and accused the network of "rigging the rules." Instead, he hosted an alternative debate on social media, where he reiterated his plan to use AI and blockchain to reduce government waste.
Polls and Future Debates
As of a June 27 FiveThirtyEight poll, Trump leads Biden by a slim margin of 0.2 percentage points (41.1% to 40.9%), with Kennedy polling at 9.1%. The second debate between Biden and Trump is scheduled for September 10, with the presidential and vice-presidential elections, along with all 435 House seats and 34 Senate seats, set for November 5.
#crypto #CryptoTrends2024 #Trump #Biden
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
💥💥💥 Cardano ($ADA ) Price Struggles as Large Transaction Volume Plummets
Cardano Whales🐳🐳🐳 Reduce Exposure Amid Price Dip
Cardano Whales Cutting Back
- On-chain data indicates a significant reduction in large transaction volumes for Cardano (ADA) over the past month. The daily count of ADA transactions valued between $1 million and $10 million has decreased by 33%, and those worth $10 million or more have dropped by 24%.
- This decline in large transactions suggests reduced trading activity by major holders, often signaling a shift from positive to negative market sentiment.
Negative Market Sentiment
- Cardano's weighted sentiment metric currently stands at -0.58, reflecting general negative sentiment on social media. A negative weighted sentiment typically precedes further declines in an asset's value, as investor hesitation reduces demand.
Technical Indicators
Key technical indicators on ADA's daily chart highlight declining demand:
- Relative Strength Index (RSI): The #RSI has fallen below the 50-neutral line, currently at 34.12, indicating increased selling pressure.
- Directional Movement Index (DMI): The DMI shows the positive index (blue) below the negative index (red), signaling bearish control since June 12.
Price Prediction
- If ADA sell-offs continue, its value may dip to $0.35. Conversely, a shift to positive sentiment could increase buying pressure, pushing the value up to $0.41.
Conclusion
Cardano faces reduced interest from major holders and negative market sentiment, leading to potential price declines unless positive sentiment and demand return.
Source - beincrypto.com
#CryptoTrends2024 #BinanceSquareTalks
Cardano Whales🐳🐳🐳 Reduce Exposure Amid Price Dip
Cardano Whales Cutting Back
- On-chain data indicates a significant reduction in large transaction volumes for Cardano (ADA) over the past month. The daily count of ADA transactions valued between $1 million and $10 million has decreased by 33%, and those worth $10 million or more have dropped by 24%.
- This decline in large transactions suggests reduced trading activity by major holders, often signaling a shift from positive to negative market sentiment.
Negative Market Sentiment
- Cardano's weighted sentiment metric currently stands at -0.58, reflecting general negative sentiment on social media. A negative weighted sentiment typically precedes further declines in an asset's value, as investor hesitation reduces demand.
Technical Indicators
Key technical indicators on ADA's daily chart highlight declining demand:
- Relative Strength Index (RSI): The #RSI has fallen below the 50-neutral line, currently at 34.12, indicating increased selling pressure.
- Directional Movement Index (DMI): The DMI shows the positive index (blue) below the negative index (red), signaling bearish control since June 12.
Price Prediction
- If ADA sell-offs continue, its value may dip to $0.35. Conversely, a shift to positive sentiment could increase buying pressure, pushing the value up to $0.41.
Conclusion
Cardano faces reduced interest from major holders and negative market sentiment, leading to potential price declines unless positive sentiment and demand return.
Source - beincrypto.com
#CryptoTrends2024 #BinanceSquareTalks
Are Celebrity Tokens Good or Bad for Web3? Execs Weigh In
As the cryptocurrency market searches for new growth narratives, celebrity-backed token projects have emerged, eliciting mixed reactions from seasoned crypto enthusiasts regarding this new wave of meme coins. Cointelegraph approached professionals across Web3 to gather their thoughts on the emergence of celebrity-backed meme tokens in crypto.
The Positive Perspective: Onboarding New Users
Proponents of celebrity tokens see them as an effective gateway into the world of cryptocurrency. Solo Ceesay, co-founder and CEO of social wallet Calaxy, believes these tokens can make crypto more accessible to the general public. Ceesay remarked:
"I think celebrity tokens can be hugely valuable to the space much like generic meme coins because they serve as the simplest on-ramp into crypto for most consumers."
Ceesay argued that leveraging the likeness of well-known figures makes attracting new users easier than explaining the complex potential of Web3. He is optimistic about the future of celebrity tokens, suggesting they could evolve into a significant asset class. "Over time, I expect celebrity coins to solidify themselves as a meaningful asset class should genuine strategies and use cases be deployed against them," he added.
Representatives from KuCoin shared a similar view, acknowledging that celebrity tokens can help onboard new users, though they also urged caution. They explained:
"Celebrity tokens can be a gateway to crypto for new users mainly due to their lower entry points. However, their balance of hype and utility can lead to potential risks."
The KuCoin team emphasized the importance of conducting thorough research, a common mantra in the crypto community, and maintained a neutral stance on meme tokens.
The Negative Perspective: Risks and Skepticism
On the other hand, some industry leaders criticize the trend of celebrity-driven crypto. Matt Wright, CEO of decentralized artificial intelligence (AI) firm GaiaNet, views it as detrimental to the crypto space. Wright explained:
"They're bad for the space because people think that's crypto, but that's just influencer marketing attached to economics."
He argued that the hype surrounding celebrity tokens overshadows the true potential of blockchain technology and warned that these tokens are unsustainable unless they offer substantial utility and innovation. Wright compared the trend to the non-fungible token (NFT) craze, where many projects lacked substance.
The speculative nature of celebrity tokens has raised concerns about their long-term viability. Andreas Brekken, CEO and founder of trading platform SideShift.ai, has been particularly vocal in his criticism. He argued:
"Washed-up celebrities are being recruited in numbers to create pump-and-dump schemes, to squeeze the last pennies from their already worthless reputations."
Brekken predicts a grim future for most celebrity tokens, asserting that "they are all going to zero in days, possibly months."
Conclusion
The emergence of celebrity-backed meme tokens in the cryptocurrency market has sparked a lively debate. While some see these tokens as a way to attract new users and make crypto more accessible, others warn of their speculative nature and potential to mislead consumers about blockchain's true value. As the market evolves, the success and impact of celebrity tokens will depend on the balance between hype, utility, and genuine innovation.
#crypto #CryptoTrends2024 #Web3 #altcoins
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The Positive Perspective: Onboarding New Users
Proponents of celebrity tokens see them as an effective gateway into the world of cryptocurrency. Solo Ceesay, co-founder and CEO of social wallet Calaxy, believes these tokens can make crypto more accessible to the general public. Ceesay remarked:
"I think celebrity tokens can be hugely valuable to the space much like generic meme coins because they serve as the simplest on-ramp into crypto for most consumers."
Ceesay argued that leveraging the likeness of well-known figures makes attracting new users easier than explaining the complex potential of Web3. He is optimistic about the future of celebrity tokens, suggesting they could evolve into a significant asset class. "Over time, I expect celebrity coins to solidify themselves as a meaningful asset class should genuine strategies and use cases be deployed against them," he added.
Representatives from KuCoin shared a similar view, acknowledging that celebrity tokens can help onboard new users, though they also urged caution. They explained:
"Celebrity tokens can be a gateway to crypto for new users mainly due to their lower entry points. However, their balance of hype and utility can lead to potential risks."
The KuCoin team emphasized the importance of conducting thorough research, a common mantra in the crypto community, and maintained a neutral stance on meme tokens.
The Negative Perspective: Risks and Skepticism
On the other hand, some industry leaders criticize the trend of celebrity-driven crypto. Matt Wright, CEO of decentralized artificial intelligence (AI) firm GaiaNet, views it as detrimental to the crypto space. Wright explained:
"They're bad for the space because people think that's crypto, but that's just influencer marketing attached to economics."
He argued that the hype surrounding celebrity tokens overshadows the true potential of blockchain technology and warned that these tokens are unsustainable unless they offer substantial utility and innovation. Wright compared the trend to the non-fungible token (NFT) craze, where many projects lacked substance.
The speculative nature of celebrity tokens has raised concerns about their long-term viability. Andreas Brekken, CEO and founder of trading platform SideShift.ai, has been particularly vocal in his criticism. He argued:
"Washed-up celebrities are being recruited in numbers to create pump-and-dump schemes, to squeeze the last pennies from their already worthless reputations."
Brekken predicts a grim future for most celebrity tokens, asserting that "they are all going to zero in days, possibly months."
Conclusion
The emergence of celebrity-backed meme tokens in the cryptocurrency market has sparked a lively debate. While some see these tokens as a way to attract new users and make crypto more accessible, others warn of their speculative nature and potential to mislead consumers about blockchain's true value. As the market evolves, the success and impact of celebrity tokens will depend on the balance between hype, utility, and genuine innovation.
#crypto #CryptoTrends2024 #Web3 #altcoins
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
👉👉👉 #chatgpt Predicts $XRP Price if SEC Lawsuit Never Happened
XRP investors missed out on the 2021 bull run as the asset only reached $1.96. Many attribute XRP's failure to reclaim its previous all-time high during the last bull season to the ongoing lawsuit against Ripple.
On December 20, 2020, the U.S. SEC filed a lawsuit against Ripple and its executives, Christian Larsen and Brad Garlinghouse, alleging a $1.3 billion unregistered securities offering through XRP. This legal action prompted U.S.-based exchanges to delist XRP temporarily, resulting in price declines.
Meanwhile, the broader #cryptocurrencymarket was entering a new bull cycle driven by #Bitcoin's third halving. However, the lawsuit constrained public access to XRP, curtailing its bullish momentum. Specifically, XRP peaked at $1.965 on April 14, 2021, while Bitcoin continued its upward trajectory for another six months until November 2021.
XRP's current price is $0.47, lower due to the SEC lawsuit. Enthusiasts recall its 75,000% surge in 2017/2018, briefly ranking it second to Bitcoin, ahead of Ethereum.
Exploring XRP's Potential Without the Lawsuit
- Considering XRP's potential price without the SEC lawsuit is speculative, but leveraging insights from ChatGPT, key factors like market sentiment, Ripple's partnerships, and historical performance were considered.
Moderate and High Growth Scenarios
- In a moderate growth scenario, assuming favorable developments and adoption without legal constraints, ChatGPT predicts XRP could increase by 50-100% from its pre-lawsuit price of approximately $0.60 in December 2020. This suggests XRP could range between $0.90 to $1.20.
- In a high-growth scenario, ChatGPT projects a 150-200% increase, potentially pushing XRP's price to $1.50 to $1.80.
Aggressive Growth Scenario
- In a bullish scenario, ChatGPT speculates XRP could rise 300-500% to reach $2.40-$3.60, nearing its 2018 high of $3.84. This potential increase from its current $0.47 price level would be substantial.
Source - thecryptobasic.com
#CryptoTrends2024 #BinanceSquareTalks
XRP investors missed out on the 2021 bull run as the asset only reached $1.96. Many attribute XRP's failure to reclaim its previous all-time high during the last bull season to the ongoing lawsuit against Ripple.
On December 20, 2020, the U.S. SEC filed a lawsuit against Ripple and its executives, Christian Larsen and Brad Garlinghouse, alleging a $1.3 billion unregistered securities offering through XRP. This legal action prompted U.S.-based exchanges to delist XRP temporarily, resulting in price declines.
Meanwhile, the broader #cryptocurrencymarket was entering a new bull cycle driven by #Bitcoin's third halving. However, the lawsuit constrained public access to XRP, curtailing its bullish momentum. Specifically, XRP peaked at $1.965 on April 14, 2021, while Bitcoin continued its upward trajectory for another six months until November 2021.
XRP's current price is $0.47, lower due to the SEC lawsuit. Enthusiasts recall its 75,000% surge in 2017/2018, briefly ranking it second to Bitcoin, ahead of Ethereum.
Exploring XRP's Potential Without the Lawsuit
- Considering XRP's potential price without the SEC lawsuit is speculative, but leveraging insights from ChatGPT, key factors like market sentiment, Ripple's partnerships, and historical performance were considered.
Moderate and High Growth Scenarios
- In a moderate growth scenario, assuming favorable developments and adoption without legal constraints, ChatGPT predicts XRP could increase by 50-100% from its pre-lawsuit price of approximately $0.60 in December 2020. This suggests XRP could range between $0.90 to $1.20.
- In a high-growth scenario, ChatGPT projects a 150-200% increase, potentially pushing XRP's price to $1.50 to $1.80.
Aggressive Growth Scenario
- In a bullish scenario, ChatGPT speculates XRP could rise 300-500% to reach $2.40-$3.60, nearing its 2018 high of $3.84. This potential increase from its current $0.47 price level would be substantial.
Source - thecryptobasic.com
#CryptoTrends2024 #BinanceSquareTalks
👉👉👉 Get Ready for a DeFi Summer: #Synthetix ’s 2 Million $ARB Giveaway Heats Up on Arbitrum
Synthetix, a leader in decentralized finance (DeFi), is expanding its presence on the Arbitrum network, a pivotal step in its evolution. This move is part of the Arbitrum Liquidity Incentive Program (LTIP), spanning 12 weeks until September 3rd, supported by 2 million ARB tokens. The initiative aims to boost liquidity, promote stablecoin adoption, and optimize the Perpetual Contracts (Perps) trading environment on Arbitrum.
Synthetix is renowned for its decentralized derivatives infrastructure, powering over 80 derivative markets through its proprietary Synthetix Perps system. Notably, Synthetix has facilitated over $50 billion in trading volumes and introduced delta-neutral liquidity provision, distributing more than $25 million in trading fees to participants.
Utilizing ARB Rewards for Ecosystem Growth
The 2 million ARB tokens will be strategically distributed as follows:
- 1,000,000 ARB allocated for liquidity provider incentives to stimulate trading activity.
- 900,000 ARB set aside for trading fee rebates, offering up to 75% discounts on fees paid.
- 100,000 ARB dedicated to bolstering #stablecoin liquidity, emphasizing their crucial role in sustainable DeFi models.
Participants can engage in various beneficial activities under this program. Liquidity providers can deposit #USDC✅ , $ETH , ARB, and soon Ethena USDe into Synthetix pools. Additionally, supplying liquidity to USDx/USDC pools on Ramses, a prominent Arbitrum DEX, will soon be possible.
These initiatives, including new Perps trading options, present compelling opportunities for active participants in the perpetual derivatives trading sector to join as launch partners. By integrating with supported platforms, participants can earn fee rebate rewards, fostering engagement and volume growth.
Source - blockchainreporter.net
#CryptoTrends2024 #BinanceSquareTalks
Synthetix, a leader in decentralized finance (DeFi), is expanding its presence on the Arbitrum network, a pivotal step in its evolution. This move is part of the Arbitrum Liquidity Incentive Program (LTIP), spanning 12 weeks until September 3rd, supported by 2 million ARB tokens. The initiative aims to boost liquidity, promote stablecoin adoption, and optimize the Perpetual Contracts (Perps) trading environment on Arbitrum.
Synthetix is renowned for its decentralized derivatives infrastructure, powering over 80 derivative markets through its proprietary Synthetix Perps system. Notably, Synthetix has facilitated over $50 billion in trading volumes and introduced delta-neutral liquidity provision, distributing more than $25 million in trading fees to participants.
Utilizing ARB Rewards for Ecosystem Growth
The 2 million ARB tokens will be strategically distributed as follows:
- 1,000,000 ARB allocated for liquidity provider incentives to stimulate trading activity.
- 900,000 ARB set aside for trading fee rebates, offering up to 75% discounts on fees paid.
- 100,000 ARB dedicated to bolstering #stablecoin liquidity, emphasizing their crucial role in sustainable DeFi models.
Participants can engage in various beneficial activities under this program. Liquidity providers can deposit #USDC✅ , $ETH , ARB, and soon Ethena USDe into Synthetix pools. Additionally, supplying liquidity to USDx/USDC pools on Ramses, a prominent Arbitrum DEX, will soon be possible.
These initiatives, including new Perps trading options, present compelling opportunities for active participants in the perpetual derivatives trading sector to join as launch partners. By integrating with supported platforms, participants can earn fee rebate rewards, fostering engagement and volume growth.
Source - blockchainreporter.net
#CryptoTrends2024 #BinanceSquareTalks
🔥🔥🔥 #BlackRock #BitcoinETF💰💰💰 Surges with $1.1 Billion Trading Volume Today!
Key Points:
- Today, BlackRock's spot Bitcoin ETF achieved a significant milestone, surpassing $1.1 billion in trading volume. This milestone signals robust investor interest and active market participation in cryptocurrency ETFs.
Strong Investor Interest
- The high trading volume of the ETF reflects strong engagement from both institutional investors seeking exposure to Bitcoin's price movements and retail investors navigating the cryptocurrency market. It has become a focal point for investors of all types looking to capitalize on Bitcoin's potential growth.
Institutional and Retail Appeal
- Managed by the New York-based global investment giant BlackRock, the ETF has garnered attention as a reliable vehicle for gaining exposure to Bitcoin without direct ownership. Its size and liquidity make it a preferred choice for investors aiming to navigate the volatile #cryptocurrencymarket effectively.
Market Confidence and Demand
- The $1.1 billion trading volume underscores BlackRock's prominent role in the cryptocurrency investment landscape. Beyond providing exposure to Bitcoin, the ETF also serves as a barometer of investor confidence and sentiment towards digital assets, reflecting a growing acceptance and interest in cryptocurrencies.
- This achievement highlights the ETF's pivotal role in facilitating diverse investor participation and supporting market dynamics in the evolving digital currency space.
Source - coincu.com
#CryptoTrends2024 #BinanceSquareBTC
Key Points:
- Today, BlackRock's spot Bitcoin ETF achieved a significant milestone, surpassing $1.1 billion in trading volume. This milestone signals robust investor interest and active market participation in cryptocurrency ETFs.
Strong Investor Interest
- The high trading volume of the ETF reflects strong engagement from both institutional investors seeking exposure to Bitcoin's price movements and retail investors navigating the cryptocurrency market. It has become a focal point for investors of all types looking to capitalize on Bitcoin's potential growth.
Institutional and Retail Appeal
- Managed by the New York-based global investment giant BlackRock, the ETF has garnered attention as a reliable vehicle for gaining exposure to Bitcoin without direct ownership. Its size and liquidity make it a preferred choice for investors aiming to navigate the volatile #cryptocurrencymarket effectively.
Market Confidence and Demand
- The $1.1 billion trading volume underscores BlackRock's prominent role in the cryptocurrency investment landscape. Beyond providing exposure to Bitcoin, the ETF also serves as a barometer of investor confidence and sentiment towards digital assets, reflecting a growing acceptance and interest in cryptocurrencies.
- This achievement highlights the ETF's pivotal role in facilitating diverse investor participation and supporting market dynamics in the evolving digital currency space.
Source - coincu.com
#CryptoTrends2024 #BinanceSquareBTC
🔥🔥🔥 #bitcoin☀️ Holds $61K After a Brief Nosedive
Bitcoin (BTC) is currently trading above $61,000 after briefly dipping to $59,200 as the Asian trading day commenced.
The cryptocurrency has faced significant selling pressure due to continued ETF outflows, upcoming Mt. Gox bankruptcy redemptions, and miner sales. Despite this, Bitcoin has stabilized above $61,000, though it remains down 2% over the past 24 hours and 6% over the past week, according to CoinDesk Indices data.
The CoinDesk Indices Bitcoin Trend Indicator reflects a notable downtrend, while the CoinDesk 20, which tracks the largest digital assets, is relatively flat. Ether (ETH) has not experienced the same pricing pressure as Bitcoin.
Meanwhile, the ether staking protocol Lido ($LDO ) continues to outperform the market, showing a 14% increase in the past day and a 25% rise over the last week, as traders remain impressed with its fees, revenue, and total value locked.
In recent days, Bitcoin has faced considerable sell pressure due to the anticipated Mt. Gox bankruptcy redemptions and miner sales. Market data indicates that #BitcoinETFs saw an outflow of $174 million by the close of trading in New York on Monday, ending last week with nearly $1 billion in outflows.
Polymarket bettors are currently giving a 14% chance that Bitcoin will rebound to $65,000 by the end of the week, while there is a 71% chance that the ether ETF will begin trading by July 4.
Source - coindesk.com
#CryptoTrends2024 #CryptoMarkets #BinanceSquareTrends
Bitcoin (BTC) is currently trading above $61,000 after briefly dipping to $59,200 as the Asian trading day commenced.
The cryptocurrency has faced significant selling pressure due to continued ETF outflows, upcoming Mt. Gox bankruptcy redemptions, and miner sales. Despite this, Bitcoin has stabilized above $61,000, though it remains down 2% over the past 24 hours and 6% over the past week, according to CoinDesk Indices data.
The CoinDesk Indices Bitcoin Trend Indicator reflects a notable downtrend, while the CoinDesk 20, which tracks the largest digital assets, is relatively flat. Ether (ETH) has not experienced the same pricing pressure as Bitcoin.
Meanwhile, the ether staking protocol Lido ($LDO ) continues to outperform the market, showing a 14% increase in the past day and a 25% rise over the last week, as traders remain impressed with its fees, revenue, and total value locked.
In recent days, Bitcoin has faced considerable sell pressure due to the anticipated Mt. Gox bankruptcy redemptions and miner sales. Market data indicates that #BitcoinETFs saw an outflow of $174 million by the close of trading in New York on Monday, ending last week with nearly $1 billion in outflows.
Polymarket bettors are currently giving a 14% chance that Bitcoin will rebound to $65,000 by the end of the week, while there is a 71% chance that the ether ETF will begin trading by July 4.
Source - coindesk.com
#CryptoTrends2024 #CryptoMarkets #BinanceSquareTrends
💥💥💥 Will $NEAR Protocol Look For Bullish Reversal Or Continue Plunging?
NEAR Protocol (NEAR) Price Analysis
Current Situation
- NEAR Protocol has initiated a recovery phase after dropping below the 200-day EMA and facing strong selling pressure, particularly since early June. The cryptocurrency is striving to stabilize around the $5 level, a critical psychological and technical support zone.
Bullish Chart Pattern
- On the daily NEAR/USD chart, there is a notable formation of a bullish flag pattern, indicating potential for upward movement if key resistance levels are breached.
Price Potential
- NEAR could see a significant upside of over 35% if it manages to surpass the recent hurdle at $5.75.
- The formation suggests a rebound scenario towards $8, contingent on broader market conditions improving.
Market Dynamics
- Despite recent declines, NEAR remains the 17th largest cryptocurrency with a market capitalization of $5.68 billion. Daily trading volume surged by over 160% to $493.8 million, reflecting active market participation.
Weighted Sentiment and Market Outlook
- The weighted sentiment curve currently hovers near neutral, indicating a balanced sentiment among investors and traders.
- A shift above the zero line in the sentiment curve could signify a positive bias and potential price gains for NEAR.
Technical Analysis
- NEAR is finding support near the dynamic 200-day EMA, a critical level for determining market sentiment.
- The bullish flag pattern on the daily chart suggests a potential rebound from the lower boundary of the pattern, reinforcing bullish prospects if resistance levels are breached.
Conclusion
NEAR Protocol aims for stability at $5, supported by a bullish chart pattern. A breakout above $5.75 could drive rally to $8 amid market recovery. Sustained weakness may test lower supports, impacting short-term trajectory.
Source - thecoinrepublic.com
#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets
#CryptoBullish
NEAR Protocol (NEAR) Price Analysis
Current Situation
- NEAR Protocol has initiated a recovery phase after dropping below the 200-day EMA and facing strong selling pressure, particularly since early June. The cryptocurrency is striving to stabilize around the $5 level, a critical psychological and technical support zone.
Bullish Chart Pattern
- On the daily NEAR/USD chart, there is a notable formation of a bullish flag pattern, indicating potential for upward movement if key resistance levels are breached.
Price Potential
- NEAR could see a significant upside of over 35% if it manages to surpass the recent hurdle at $5.75.
- The formation suggests a rebound scenario towards $8, contingent on broader market conditions improving.
Market Dynamics
- Despite recent declines, NEAR remains the 17th largest cryptocurrency with a market capitalization of $5.68 billion. Daily trading volume surged by over 160% to $493.8 million, reflecting active market participation.
Weighted Sentiment and Market Outlook
- The weighted sentiment curve currently hovers near neutral, indicating a balanced sentiment among investors and traders.
- A shift above the zero line in the sentiment curve could signify a positive bias and potential price gains for NEAR.
Technical Analysis
- NEAR is finding support near the dynamic 200-day EMA, a critical level for determining market sentiment.
- The bullish flag pattern on the daily chart suggests a potential rebound from the lower boundary of the pattern, reinforcing bullish prospects if resistance levels are breached.
Conclusion
NEAR Protocol aims for stability at $5, supported by a bullish chart pattern. A breakout above $5.75 could drive rally to $8 amid market recovery. Sustained weakness may test lower supports, impacting short-term trajectory.
Source - thecoinrepublic.com
#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets
#CryptoBullish
👉👉👉 #SolanaDown 15% in past seven days amid claims of alleged $SOL investigation
Solana has been thrust into the spotlight amid claims by analyst Crypto Bitlord regarding an alleged investigation, sparking a wave of criticism and controversy among crypto analysts and Solana supporters on X.
According to Crypto Bitlord's recent tweet, rumors of an investigation into Solana have been circulating for several weeks. The X community heavily criticized the influencer for his assertion, labeling it as mere speculation rather than verified information.
The tweet coincided with Solana's recent price decline, with the cryptocurrency witnessing a 15% drop over the past seven days. This combination of price movement and speculative claims amplified concerns within the market.
Among the reactions, #CryptoAnalyst Evanss6 (@Evan_ss6) expressed a pessimistic outlook, suggesting that the community might be witnessing the "death of Solana."
Conversely, Luke (@toroscrypto) supported Crypto Bitlord's stance, referencing earlier predictions that Solana could face challenges similar to those experienced by LUNA in previous cycles.
In contrast, analyst Ricki.sol (@rickicryptostix) of #MonkeDAO dismissed Crypto Bitlord's allegations as baseless, labeling the supposed investigation as "nonsense."
Solana Labs has yet to respond to inquiries regarding these developments from FXStreet.
Source - fxstreet.com
#CryptoTrends2024 #BinanceSquareTalks
Solana has been thrust into the spotlight amid claims by analyst Crypto Bitlord regarding an alleged investigation, sparking a wave of criticism and controversy among crypto analysts and Solana supporters on X.
According to Crypto Bitlord's recent tweet, rumors of an investigation into Solana have been circulating for several weeks. The X community heavily criticized the influencer for his assertion, labeling it as mere speculation rather than verified information.
The tweet coincided with Solana's recent price decline, with the cryptocurrency witnessing a 15% drop over the past seven days. This combination of price movement and speculative claims amplified concerns within the market.
Among the reactions, #CryptoAnalyst Evanss6 (@Evan_ss6) expressed a pessimistic outlook, suggesting that the community might be witnessing the "death of Solana."
Conversely, Luke (@toroscrypto) supported Crypto Bitlord's stance, referencing earlier predictions that Solana could face challenges similar to those experienced by LUNA in previous cycles.
In contrast, analyst Ricki.sol (@rickicryptostix) of #MonkeDAO dismissed Crypto Bitlord's allegations as baseless, labeling the supposed investigation as "nonsense."
Solana Labs has yet to respond to inquiries regarding these developments from FXStreet.
Source - fxstreet.com
#CryptoTrends2024 #BinanceSquareTalks
🔥🔥🔥 AI tokens $FET , $AGIX , $OCEAN , and #ARKM surge despite market sell-off
Several artificial intelligence (AI)-related cryptocurrencies have shown remarkable performance despite the market downturn on Monday. Among the top performers are Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Arkham (ARKM).
According to CoinGecko data, Fetch.ai (FET) surged by 20% in the past 24 hours, with its current price standing at $1.69. Ocean Protocol (OCEAN) also demonstrated a positive trend, increasing by 15% to $0.68. Similarly, SingularityNET (AGIX) saw a 15.5% rise, currently trading at $0.68.
This price rally coincides with the Artificial Superintelligence Alliance's announcement, involving SingularityNET, Fetch.ai, and Ocean Protocol, about initiating the ASI token merger on July 1. Earlier, the alliance had postponed the merger to July 15.
Additionally, Arkham (ARKM), the native token of the AI-driven blockchain analytics platform Arkham, experienced a 16% increase in the past 24 hours, now trading at around $2.
The surge in AI-related tokens occurred amid a broader market correction triggered by news that the defunct crypto exchange Mt. Gox plans to repay its creditors $9 billion in July.
Historically, such news from Mt. Gox has led to market sell-offs. For example, last month, Bitcoin's price dropped from $70,000 to $68,500 following Arkham's report that a Mt. Gox-associated wallet was transferring 140,000 BTC (approximately $9 billion) to a new wallet, likely in preparation for creditor repayments.
Following the latest announcement, #Bitcoin's price fell below $59,000 but later recovered to over $61,000, still reflecting a 2% decline in the past 24 hours. Over the month, Bitcoin has seen an almost 11% drop.
Source - cryptobriefing.com
#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets
Several artificial intelligence (AI)-related cryptocurrencies have shown remarkable performance despite the market downturn on Monday. Among the top performers are Fetch.ai (FET), Ocean Protocol (OCEAN), SingularityNET (AGIX), and Arkham (ARKM).
According to CoinGecko data, Fetch.ai (FET) surged by 20% in the past 24 hours, with its current price standing at $1.69. Ocean Protocol (OCEAN) also demonstrated a positive trend, increasing by 15% to $0.68. Similarly, SingularityNET (AGIX) saw a 15.5% rise, currently trading at $0.68.
This price rally coincides with the Artificial Superintelligence Alliance's announcement, involving SingularityNET, Fetch.ai, and Ocean Protocol, about initiating the ASI token merger on July 1. Earlier, the alliance had postponed the merger to July 15.
Additionally, Arkham (ARKM), the native token of the AI-driven blockchain analytics platform Arkham, experienced a 16% increase in the past 24 hours, now trading at around $2.
The surge in AI-related tokens occurred amid a broader market correction triggered by news that the defunct crypto exchange Mt. Gox plans to repay its creditors $9 billion in July.
Historically, such news from Mt. Gox has led to market sell-offs. For example, last month, Bitcoin's price dropped from $70,000 to $68,500 following Arkham's report that a Mt. Gox-associated wallet was transferring 140,000 BTC (approximately $9 billion) to a new wallet, likely in preparation for creditor repayments.
Following the latest announcement, #Bitcoin's price fell below $59,000 but later recovered to over $61,000, still reflecting a 2% decline in the past 24 hours. Over the month, Bitcoin has seen an almost 11% drop.
Source - cryptobriefing.com
#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets
Top Crypto Market Trends to Watch in 2024 🚀
As we dive into 2024, the crypto market is buzzing with excitement and innovation. Whether you're a seasoned trader or just dipping your toes into the digital currency waters, staying ahead of the trends is crucial. Here are the top crypto market trends to watch in 2024 that could shape the future of finance and offer thrilling opportunities for investors. Follow me, Nero_Exchanicie, for more insights and updates! 🌟
1. The Rise of Decentralized Finance (DeFi) 2.0 🌐
DeFi has been a game-changer in the crypto world, and 2024 is set to witness the next evolution: DeFi 2.0. This new wave focuses on improving scalability, security, and user experience. With more user-friendly interfaces and enhanced protocols, DeFi 2.0 aims to bring decentralized finance to the masses. Keep an eye on projects that are pioneering these advancements!
2. NFTs Continue to Revolutionize Digital Ownership 🎨
Non-Fungible Tokens (NFTs) are far from a passing fad. In 2024, NFTs are expected to further integrate with various industries, including gaming, real estate, and even fashion. Innovative uses of NFTs are emerging, such as NFT-based memberships and digital identities. Watch out for platforms that are leading the charge in expanding NFT utilities.
3. Regulatory Developments and Compliance 🏛️
As the crypto market matures, regulatory frameworks are evolving. 2024 will likely bring significant regulatory changes that could impact how cryptocurrencies are traded and used. Staying informed about these developments is essential for making strategic investment decisions. Follow Nero_Exchanicie for timely updates on regulatory news.
4. Mainstream Adoption and Institutional Investment 💼
Major companies and financial institutions are increasingly embracing cryptocurrencies. This mainstream adoption is driving significant investment and boosting market stability. In 2024, expect to see more household names integrating crypto payments and holding digital assets. This trend signals a bright future for the crypto ecosystem.
5. The Growth of Layer 2 Solutions 🚀
Scalability remains a critical issue for many blockchain networks. Layer 2 solutions, designed to handle transactions off the main blockchain, are gaining traction. These solutions promise faster transaction speeds and lower fees, making blockchain technology more practical for everyday use. Watch out for the leading Layer 2 projects making waves this year.
6. Enhanced Security Measures 🔒
With the increasing value of digital assets, security is paramount. 2024 will see the implementation of advanced security protocols to protect against hacks and fraud. Innovations such as quantum-resistant cryptography and improved authentication methods will play a vital role in securing the crypto space. Stay tuned for updates on these critical advancements.
7. Sustainable and Green Cryptocurrencies 🌱
Environmental concerns have led to a push for more sustainable crypto practices. Green cryptocurrencies that use less energy-intensive consensus mechanisms are gaining popularity. Projects focusing on eco-friendly operations will likely attract more attention and investment in 2024. Follow Nero_Exchanicie for insights into the green crypto movement.
Final Thoughts 💭
The crypto market is dynamic and ever-evolving. Staying informed about the latest trends can help you navigate this exciting landscape and make informed investment choices. Follow Nero_Exchanicie on Binance for the latest updates, expert analyses, and tips to stay ahead of the curve.
🌟 Join the conversation and stay updated with the latest in the crypto world! 🌟
Follow Nero_Exchanicie for more insights:
Binance: @Nero_Exchanicie
🔗 #CryptoTrends2024 #DeFiRevolution #NFTs #GreenCrypto #BlockchainInnovations
Stay tuned, stay informed, and let's ride the crypto wave together!🚀
1. The Rise of Decentralized Finance (DeFi) 2.0 🌐
DeFi has been a game-changer in the crypto world, and 2024 is set to witness the next evolution: DeFi 2.0. This new wave focuses on improving scalability, security, and user experience. With more user-friendly interfaces and enhanced protocols, DeFi 2.0 aims to bring decentralized finance to the masses. Keep an eye on projects that are pioneering these advancements!
2. NFTs Continue to Revolutionize Digital Ownership 🎨
Non-Fungible Tokens (NFTs) are far from a passing fad. In 2024, NFTs are expected to further integrate with various industries, including gaming, real estate, and even fashion. Innovative uses of NFTs are emerging, such as NFT-based memberships and digital identities. Watch out for platforms that are leading the charge in expanding NFT utilities.
3. Regulatory Developments and Compliance 🏛️
As the crypto market matures, regulatory frameworks are evolving. 2024 will likely bring significant regulatory changes that could impact how cryptocurrencies are traded and used. Staying informed about these developments is essential for making strategic investment decisions. Follow Nero_Exchanicie for timely updates on regulatory news.
4. Mainstream Adoption and Institutional Investment 💼
Major companies and financial institutions are increasingly embracing cryptocurrencies. This mainstream adoption is driving significant investment and boosting market stability. In 2024, expect to see more household names integrating crypto payments and holding digital assets. This trend signals a bright future for the crypto ecosystem.
5. The Growth of Layer 2 Solutions 🚀
Scalability remains a critical issue for many blockchain networks. Layer 2 solutions, designed to handle transactions off the main blockchain, are gaining traction. These solutions promise faster transaction speeds and lower fees, making blockchain technology more practical for everyday use. Watch out for the leading Layer 2 projects making waves this year.
6. Enhanced Security Measures 🔒
With the increasing value of digital assets, security is paramount. 2024 will see the implementation of advanced security protocols to protect against hacks and fraud. Innovations such as quantum-resistant cryptography and improved authentication methods will play a vital role in securing the crypto space. Stay tuned for updates on these critical advancements.
7. Sustainable and Green Cryptocurrencies 🌱
Environmental concerns have led to a push for more sustainable crypto practices. Green cryptocurrencies that use less energy-intensive consensus mechanisms are gaining popularity. Projects focusing on eco-friendly operations will likely attract more attention and investment in 2024. Follow Nero_Exchanicie for insights into the green crypto movement.
Final Thoughts 💭
The crypto market is dynamic and ever-evolving. Staying informed about the latest trends can help you navigate this exciting landscape and make informed investment choices. Follow Nero_Exchanicie on Binance for the latest updates, expert analyses, and tips to stay ahead of the curve.
🌟 Join the conversation and stay updated with the latest in the crypto world! 🌟
Follow Nero_Exchanicie for more insights:
Binance: @Nero_Exchanicie
🔗 #CryptoTrends2024 #DeFiRevolution #NFTs #GreenCrypto #BlockchainInnovations
Stay tuned, stay informed, and let's ride the crypto wave together!🚀
🔥🔥🔥 #tezos (XTZ) Battles Market Bears, Sees Price Rebound from $0.71 Lows
Tezos (XTZ) has been enduring a bearish trend, marked by a 29% decline year-to-date and a recent 4% drop over the past week. Analysts are closely monitoring a potential upward movement aiming for $0.94, although failure to achieve this could trigger further downside towards $0.60. Currently, XTZ is trading at $0.77, with a significant uptick in accumulation evident as indicated by the Chaikin Money Flow (CMF) indicator, reflecting growing investor confidence amidst volatile funding rates.
Despite ongoing consolidation within the $0.76 to $0.87 range, the market remains uncertain due to mixed signals. Positive funding rates suggest dominance of long contracts, while negative rates point to short contract prevalence, highlighting investor indecision about XTZ's short-term trajectory. Analysts emphasize that a breakout above $0.94 would signal bullish momentum, whereas a failure could potentially lead to a retreat to $0.60.
Beyond price movements, Tezos recently rolled out its 16th upgrade on the mainnet, aimed at reducing block finality times to just 10 seconds. This enhancement, particularly beneficial for the Ethereum Virtual Machine-compatible L2 network Etherlink, positions Tezos competitively against other Layer 2 solutions like Arbitrum and Optimism in terms of transaction efficiency and cost-effectiveness. Arthur Breitman, Tezos co-founder, highlighted the Paris upgrade's improvements, emphasizing Etherlink's enhanced user experience and competitive advantage in transaction finality over leading Ethereum L2 solutions.
Moreover, the upgrade introduces the Data Availability Layer (DAL), crucial for scaling Tezos' Smart #Rollups to potentially support millions of transactions per second (#TPS ) in the future. This scalability milestone underscores Tezos' commitment to advancing blockchain technology and enhancing its ecosystem's capabilities.
Source - crypto-news-flash.com
#CryptoTrends2024 #BinanceSquareTalks
Tezos (XTZ) has been enduring a bearish trend, marked by a 29% decline year-to-date and a recent 4% drop over the past week. Analysts are closely monitoring a potential upward movement aiming for $0.94, although failure to achieve this could trigger further downside towards $0.60. Currently, XTZ is trading at $0.77, with a significant uptick in accumulation evident as indicated by the Chaikin Money Flow (CMF) indicator, reflecting growing investor confidence amidst volatile funding rates.
Despite ongoing consolidation within the $0.76 to $0.87 range, the market remains uncertain due to mixed signals. Positive funding rates suggest dominance of long contracts, while negative rates point to short contract prevalence, highlighting investor indecision about XTZ's short-term trajectory. Analysts emphasize that a breakout above $0.94 would signal bullish momentum, whereas a failure could potentially lead to a retreat to $0.60.
Beyond price movements, Tezos recently rolled out its 16th upgrade on the mainnet, aimed at reducing block finality times to just 10 seconds. This enhancement, particularly beneficial for the Ethereum Virtual Machine-compatible L2 network Etherlink, positions Tezos competitively against other Layer 2 solutions like Arbitrum and Optimism in terms of transaction efficiency and cost-effectiveness. Arthur Breitman, Tezos co-founder, highlighted the Paris upgrade's improvements, emphasizing Etherlink's enhanced user experience and competitive advantage in transaction finality over leading Ethereum L2 solutions.
Moreover, the upgrade introduces the Data Availability Layer (DAL), crucial for scaling Tezos' Smart #Rollups to potentially support millions of transactions per second (#TPS ) in the future. This scalability milestone underscores Tezos' commitment to advancing blockchain technology and enhancing its ecosystem's capabilities.
Source - crypto-news-flash.com
#CryptoTrends2024 #BinanceSquareTalks
💥💥💥 #dogwifhat falls out of top 50, tumbles 38% over past 7 days
Dogwifhat, a #memecoin🚀🚀🚀 on the #SolanaBlockchain , has experienced the sharpest price decline among the top 100 cryptocurrencies by market cap over the past seven days, yet it remains one of the top four memecoins.
In the last week, Dogwifhat (WIF) dropped by 38%, causing it to fall out of the top 50 cryptocurrencies by market capitalization. As of June 23, its market cap decreased by 9% within a 12-hour period to $1.60 billion, allowing Fantom (FTM) to surpass it with a market cap of $1.65 billion.
Despite discussions about WIF being in an accumulation zone, sentiment remains skeptical. A pseudonymous crypto trader, Blockgraze, noted on June 23 that the chart does not indicate significant accumulation.
Dogwifhat retains its position as the fourth largest memecoin by market cap, trailing Pepe (PEPE) with a market cap nearly three times larger at $4.57 billion.
Currently trading at $1.62, Dogwifhat's recent decline has also impacted futures traders' activities. Open Interest (OI) in Dogwifhat futures contracts has decreased by 25% to $209.64 million over the same period, according to CoinGlass data.
If Dogwifhat rebounds to $1.81, approximately $13.53 million in short positions could be liquidated.
The sentiment surrounding Dogwifhat has shifted from optimistic forecasts earlier this year. In March, when Dogwifhat reached $3 for the first time, Arthur Hayes, former BitMEX CEO and current CIO at Maelstrom, predicted a potential rally to $10.
Source - cointelegraph.com
#CryptoTrends2024 #BinanceSquareTalks
Dogwifhat, a #memecoin🚀🚀🚀 on the #SolanaBlockchain , has experienced the sharpest price decline among the top 100 cryptocurrencies by market cap over the past seven days, yet it remains one of the top four memecoins.
In the last week, Dogwifhat (WIF) dropped by 38%, causing it to fall out of the top 50 cryptocurrencies by market capitalization. As of June 23, its market cap decreased by 9% within a 12-hour period to $1.60 billion, allowing Fantom (FTM) to surpass it with a market cap of $1.65 billion.
Despite discussions about WIF being in an accumulation zone, sentiment remains skeptical. A pseudonymous crypto trader, Blockgraze, noted on June 23 that the chart does not indicate significant accumulation.
Dogwifhat retains its position as the fourth largest memecoin by market cap, trailing Pepe (PEPE) with a market cap nearly three times larger at $4.57 billion.
Currently trading at $1.62, Dogwifhat's recent decline has also impacted futures traders' activities. Open Interest (OI) in Dogwifhat futures contracts has decreased by 25% to $209.64 million over the same period, according to CoinGlass data.
If Dogwifhat rebounds to $1.81, approximately $13.53 million in short positions could be liquidated.
The sentiment surrounding Dogwifhat has shifted from optimistic forecasts earlier this year. In March, when Dogwifhat reached $3 for the first time, Arthur Hayes, former BitMEX CEO and current CIO at Maelstrom, predicted a potential rally to $10.
Source - cointelegraph.com
#CryptoTrends2024 #BinanceSquareTalks
🔥🔥🔥 #bitcoin Price Takes a Plunge: Analyzing the Sudden Drop
Bitcoin's price has started another downward trend after struggling near the $64,550 resistance level, now trading below $63,500 and potentially heading lower.
Key Points:
- Initial Decline: Began from the $64,550 resistance.
- Current Levels: Trading below $63,500 and the 100-hourly simple moving average (SMA).
- #BEARISH📉 Trend Line: Resistance at $63,600 on the hourly BTC/USD chart.
- Potential Further Losses: Possible if it breaks below $62,700 and $62,500 support levels.
Detailed Analysis:
Bitcoin failed to recover above $65,000, facing significant resistance near $64,550 and subsequently dropping below $64,000 and $63,500, even falling past $63,000. A low formed at $62,700, with the price now consolidating losses. The bearish trend line at $63,600 is a key resistance point.
Bitcoin trades under $63,500 and the 100-hourly SMA. Any recovery might face resistance near $63,550 (23.6% Fibonacci retracement of the move from $66,444 to $62,700) and stronger resistance at $64,000 and $64,500 (50% Fibonacci retracement).
Potential Price Movement:
Upside Potential:
- Break Above $64,500: Could signal a steady increase.
- Targets: $65,500 and potentially $66,200.
Downside Risks:
- Failure to Break $63,550: Could lead to further decline.
- Immediate Support: Near $62,700.
- Further Support: $62,200 and $62,000.
- Significant Drop: Could reach the $61,200 support zone.
Technical Indicators:
- Hourly MACD: Gaining pace in the bearish zone.
- Hourly RSI: Below 50, indicating bearish sentiment.
Summary:
Bitcoin's struggle near the $64,550 resistance has led to a fresh decline, now trading below $63,500. Further losses are possible if it fails to break the $63,550 resistance. Conversely, a move above $64,500 could signal a bullish reversal and higher prices.
Key Levels to Watch:
- Support: $62,700, $62,200, $62,000.
- Resistance: $63,550, $64,500.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareBTC #CryptoMarkets $BTC
Bitcoin's price has started another downward trend after struggling near the $64,550 resistance level, now trading below $63,500 and potentially heading lower.
Key Points:
- Initial Decline: Began from the $64,550 resistance.
- Current Levels: Trading below $63,500 and the 100-hourly simple moving average (SMA).
- #BEARISH📉 Trend Line: Resistance at $63,600 on the hourly BTC/USD chart.
- Potential Further Losses: Possible if it breaks below $62,700 and $62,500 support levels.
Detailed Analysis:
Bitcoin failed to recover above $65,000, facing significant resistance near $64,550 and subsequently dropping below $64,000 and $63,500, even falling past $63,000. A low formed at $62,700, with the price now consolidating losses. The bearish trend line at $63,600 is a key resistance point.
Bitcoin trades under $63,500 and the 100-hourly SMA. Any recovery might face resistance near $63,550 (23.6% Fibonacci retracement of the move from $66,444 to $62,700) and stronger resistance at $64,000 and $64,500 (50% Fibonacci retracement).
Potential Price Movement:
Upside Potential:
- Break Above $64,500: Could signal a steady increase.
- Targets: $65,500 and potentially $66,200.
Downside Risks:
- Failure to Break $63,550: Could lead to further decline.
- Immediate Support: Near $62,700.
- Further Support: $62,200 and $62,000.
- Significant Drop: Could reach the $61,200 support zone.
Technical Indicators:
- Hourly MACD: Gaining pace in the bearish zone.
- Hourly RSI: Below 50, indicating bearish sentiment.
Summary:
Bitcoin's struggle near the $64,550 resistance has led to a fresh decline, now trading below $63,500. Further losses are possible if it fails to break the $63,550 resistance. Conversely, a move above $64,500 could signal a bullish reversal and higher prices.
Key Levels to Watch:
- Support: $62,700, $62,200, $62,000.
- Resistance: $63,550, $64,500.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareBTC #CryptoMarkets $BTC
🔥🔥🔥 Ethereum Price Trims Gains as #bitcoin☀️ Slump Drags Crypto Market
#EthereumPriceAnalysis
Current Situation
Ethereum encountered resistance near $3,550 and subsequently declined below $3,500, testing support around $3,385. It is currently consolidating losses.
Technical Details
Ethereum is trading below $3,500 and the 100-hourly Simple Moving Average (SMA).A bearish trend line is forming with resistance near $3,465 on the hourly chart (ETH/USD).The price is consolidating near the 23.6% Fibonacci retracement level of the decline from $3,543 to $3,388.
Key Levels and Scenarios
- Resistance: Immediate hurdles are near $3,430 and $3,465. Significant resistance lies at $3,520 and $3,550. A clear break above $3,550 could trigger a rally towards $3,650 or even $3,720.
- Support: Initial support is at $3,385, followed by a crucial zone around $3,350. Further downside could target $3,220 and potentially $3,100 if selling pressure intensifies.
Technical Indicators
- MACD: The hourly MACD is in the bearish zone, indicating increased selling momentum.
- RSI: The hourly RSI is below 50, suggesting a bearish bias in the short term.
Conclusion
Ethereum faces resistance near $3,465, with downside risk if it fails to break higher. Support levels to watch include $3,385 and $3,350, while a break above $3,550 is crucial for renewed bullish momentum towards higher targets.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets
#EthereumPriceAnalysis
Current Situation
Ethereum encountered resistance near $3,550 and subsequently declined below $3,500, testing support around $3,385. It is currently consolidating losses.
Technical Details
Ethereum is trading below $3,500 and the 100-hourly Simple Moving Average (SMA).A bearish trend line is forming with resistance near $3,465 on the hourly chart (ETH/USD).The price is consolidating near the 23.6% Fibonacci retracement level of the decline from $3,543 to $3,388.
Key Levels and Scenarios
- Resistance: Immediate hurdles are near $3,430 and $3,465. Significant resistance lies at $3,520 and $3,550. A clear break above $3,550 could trigger a rally towards $3,650 or even $3,720.
- Support: Initial support is at $3,385, followed by a crucial zone around $3,350. Further downside could target $3,220 and potentially $3,100 if selling pressure intensifies.
Technical Indicators
- MACD: The hourly MACD is in the bearish zone, indicating increased selling momentum.
- RSI: The hourly RSI is below 50, suggesting a bearish bias in the short term.
Conclusion
Ethereum faces resistance near $3,465, with downside risk if it fails to break higher. Support levels to watch include $3,385 and $3,350, while a break above $3,550 is crucial for renewed bullish momentum towards higher targets.
Source - newsbtc.com
#CryptoTrends2024 #BinanceSquareTalks #CryptoMarkets
In the ever-evolving world of cryptocurrencies, today’s market is buzzing with activity. Here are the top trending coins making headlines:
LayerZero (ZRO): LayerZero is currently one of the most talked-about cryptocurrencies. With a price increase of 12.07% in the past 24 hours, it has captured significant attention. This surge highlights the growing interest in cross-chain interoperability solutions.
Super Trump (STRUMP): Another trending cryptocurrency, Super Trump, has seen a price rise of 10.68% over the last day. This coin’s movement reflects the broader market’s fluctuations and investor sentiment, particularly in the meme coin sector.
GEGE (GEGE): GEGE has experienced a remarkable price increase of 65.88% in the past 24 hours. This significant jump underscores the high-risk, high-reward nature of the crypto market. Investors are closely watching this coin for potential further gains or corrections.
Market Insights:
The cryptocurrency market remains highly dynamic, with prices and trends shifting rapidly. It’s essential for investors to stay informed and conduct thorough research before making any investment decisions. The recent trends in LayerZero, Super Trump, and GEGE demonstrate the market’s volatility and the importance of staying updated with the latest developments.
#CryptoTrends2024 #LayerZeroLabsNews #Megadrop #BinanceTournament
$BTC
$Stay tuned for more updates and insights into the world of cryptocurrencies. Remember, the crypto market can be $unpredictable, so always invest wisely and stay informed! 🚀📈
LayerZero (ZRO): LayerZero is currently one of the most talked-about cryptocurrencies. With a price increase of 12.07% in the past 24 hours, it has captured significant attention. This surge highlights the growing interest in cross-chain interoperability solutions.
Super Trump (STRUMP): Another trending cryptocurrency, Super Trump, has seen a price rise of 10.68% over the last day. This coin’s movement reflects the broader market’s fluctuations and investor sentiment, particularly in the meme coin sector.
GEGE (GEGE): GEGE has experienced a remarkable price increase of 65.88% in the past 24 hours. This significant jump underscores the high-risk, high-reward nature of the crypto market. Investors are closely watching this coin for potential further gains or corrections.
Market Insights:
The cryptocurrency market remains highly dynamic, with prices and trends shifting rapidly. It’s essential for investors to stay informed and conduct thorough research before making any investment decisions. The recent trends in LayerZero, Super Trump, and GEGE demonstrate the market’s volatility and the importance of staying updated with the latest developments.
#CryptoTrends2024 #LayerZeroLabsNews #Megadrop #BinanceTournament
$BTC
$Stay tuned for more updates and insights into the world of cryptocurrencies. Remember, the crypto market can be $unpredictable, so always invest wisely and stay informed! 🚀📈
