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🔥🔥🔥 #Ethereum (ETH) Secures $3,000, Cardano's ($ADA ) Dramatic Drop Irrelevant, Will #shibaInu ($SHIB ) Recover After 30% Plunge? #cardano plunged over 20% to $0.4 but shows signs of recovery near the 200 EMA. Despite volatility, ADA surged past $0.48, attracting renewed interest. However, its longer-term bearish trend persists due to minimal trading volume. Failure at $0.4 could lead to further declines, but sustained market recovery could fuel a rally. Shiba Inu faced a sharp 30% decline to $0.00002165, casting doubt on its recovery. Trading below the 50-day moving average, SHIB's bearish trend is exacerbated by subdued activity. A bounce from $0.00002880 may signal support, but its future remains uncertain without fundamental developments. Ethereum reclaimed $3,000 with strong support at $2,700, indicating upward momentum. Increased trading volume supports the upward trend, with resistance at $3,600. Cautious investment is advised amidst market volatility. Source - u.today #cryptocurrency #BinanceSquareTalks

🔥🔥🔥 #Ethereum (ETH) Secures $3,000, Cardano's ($ADA ) Dramatic Drop Irrelevant, Will #shibaInu ($SHIB ) Recover After 30% Plunge?

#cardano plunged over 20% to $0.4 but shows signs of recovery near the 200 EMA. Despite volatility, ADA surged past $0.48, attracting renewed interest. However, its longer-term bearish trend persists due to minimal trading volume. Failure at $0.4 could lead to further declines, but sustained market recovery could fuel a rally.

Shiba Inu faced a sharp 30% decline to $0.00002165, casting doubt on its recovery. Trading below the 50-day moving average, SHIB's bearish trend is exacerbated by subdued activity. A bounce from $0.00002880 may signal support, but its future remains uncertain without fundamental developments.

Ethereum reclaimed $3,000 with strong support at $2,700, indicating upward momentum. Increased trading volume supports the upward trend, with resistance at $3,600. Cautious investment is advised amidst market volatility.

Source - u.today

#cryptocurrency #BinanceSquareTalks

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💥💥💥 #bitcoincash (BCH) Price Reclaim $600 after #EthereumETF Approval? Bitcoin Cash (BCH) saw a 5% rebound to reclaim $490 on May 24, with recent whale activity suggesting further upside potential. Ethereum ETF Sell-the-News Triggers BCH Volatility - After the SEC approved the Ethereum ETF on May 23, Bitcoin Cash dropped 11% to a weekly low of $472 before rebounding 5% to $490 by Friday evening. This volatility is due to a "sell-the-news" reaction from swing traders & short-term investors. BCH Price Action After Ethereum ETF Approval - The "sell-the-news" strategy, where investors sell off holdings at the peak of bullish news to secure early profits, seemed to play out in the BCH market. After the Ethereum ETF approval, BCH prices plummeted 11% but quickly rebounded. Whale Investors Boost BCH Holdings - On-chain data shows that despite a sell-off by swing traders and retail investors, whale investors remained bullish. Santiment data reveals that wallets holding at least 1,000 BCH increased their holdings by 10,000 BCH to a total of 11.93 million BCH since May 20. - At the current price of $496 per coin, BCH whales have invested approximately $5.2 million. Large whale purchases typically create bullish pressure by reducing market supply & boosting confidence in the asset's future performance. BCH Price Forecast: Targeting $600 - Following a recent rebound, Bitcoin Cash seems poised to move toward $600, especially if whale buying continues to counteract swing trader selling. The Parabolic SAR indicator supports this bullish outlook, with SAR dots indicating strong support at $454, well below the current price of $493. - However, BCH faces short-term resistance at $530. Breaking through this level could attract more buyers, potentially pushing the price toward the $600 target. In summary, Bitcoin Cash's recent price movements, coupled with significant whale activity, indicate potential for further gains, especially if the buying trend continues & resistance at $530 is overcome. Source - thecryptobasic.com #CryptoNews🔒📰🚫 #BinanceSquareTalks
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We asked #chatgpt -4o what will be $ETH price when first #EthereumETF is listed; Here’s what it said While Ethereum (ETH) has performed well in the 2024 cryptocurrency bull market, it has struggled to reclaim its all-time highs (ATH), unlike many other coins, including Bitcoin ($BTC ). Currently priced at $3,660.17 with a 65.58% year-to-date (YTD) rise, Ethereum has faced strong resistance around $3,800 and failed to sustain a valuation above it despite multiple attempts. However, the approval of spot exchange-traded funds (ETFs) announced on May 23 is expected to bring a new wave of institutional and retail investors to Ethereum, potentially changing its trajectory. Consulting ChatGPT-4o, Finbold predicts Ethereum's price could skyrocket to $4,750 once the first ETH ETFs are listed. This optimistic outlook factors in the expected influx of investors and improved market sentiment towards Ethereum post-ETF approval. ChatGPT also considers other ETH-specific factors, such as market dynamics following the 'merge,' in arriving at the $4,750 price target. However, ChatGPT acknowledges that this prediction is not the only possible outcome. If ETH ETFs lead to greater inflows than anticipated and ETH maintains a price above $4,000, the cryptocurrency could surge even higher to $5,000. Conversely, if excessive profit-taking occurs post-listing, similar to the BTC ETF approval in January, Ethereum's price might experience a temporary dip. Source - finbold.com #CryptoTrends2024 #BinanceSquareTalks
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🔥🔥🔥 #bitcoin dominance risks breaking 18-month uptrend on Ether #ETF✅ launch Traders anticipate Ethereum ETFs could trigger a fresh "altseason," as Bitcoin loses market dominance post two-year highs. Bitcoin (BTC) fell to $67,365 and Ether (ETH) to $3,685, down 3.5% on May 24, following underwhelming market response to the approval of spot Ether exchange-traded funds (ETFs) by U.S. regulators. Despite this significant milestone for the crypto industry, both BTC and ETH showed muted reactions, hovering near $67,000 and $3,670 respectively. The ETFs, while approved, were not immediately ready for trading, with analysts suggesting preparations could delay the launch for several weeks, possibly until mid-June. Market observers focused on the interplay between the top two cryptocurrencies. Traders like Daan Crypto Trades noted the potential for Bitcoin's market share to face challenges once Ethereum ETFs are launched, potentially reversing the dominance trend that had been in place for about 1.5 years. The possibility of a broader "altseason" was also discussed among traders, as Bitcoin dominance had peaked at 57% in mid-April, just before its block subsidy halving, marking the highest levels in over two years. In terms of technical analysis, traders like Skew identified a key support zone around $66,000 for Bitcoin, where bid liquidity on major exchanges like Binance was concentrated. The reaction of BTC's price in this area would provide insights into the absorption of selling pressure, with spot supply remaining high between $72,000 and $76,000. Notably, the recent price surge in Bitcoin had been driven by spot exchanges, particularly platforms like #Binance and Coinbase, as highlighted by market analysis. Source - cointelegraph.com #CryptoTrends2024 #BinanceSquareTalks
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💥💥💥 #Bitcoin’s Network Strengthens: Mining Difficulty And Hash Rate Spike Amid $ETH ETF Buzz Bitcoin's mining difficulty has risen by nearly 2%, reaching over 84.4 trillion, as the network’s hash rate surged past 600 EH/s. This comes amid speculation about potential approval of spot Ethereum ETFs in the U.S. Mining difficulty adjusts every 2,016 blocks (approximately every two weeks) to maintain a 10-minute interval between blocks, ensuring network stability and security. Recent Shifts in Bitcoin Mining - This adjustment follows a nearly 6% drop in difficulty earlier this month, the largest since December 2022. The hash rate's rebound from 580-590 EH/s to over 600 EH/s corresponds with a broader market rally driven by regulatory expectations for Ethereum products. - Bitcoin’s mining difficulty mechanism self-regulates new block production, increasing difficulty as more miners join and decreasing it when fewer participate, ensuring a steady introduction of new BTC. The recent difficulty increase coincides with a slight recovery in Bitcoin’s hash price, which had reached an all-time low in April. The hash price, measuring expected earnings per unit of hash rate daily, has rebounded from less than $50 per PH/s per day to around $54.6, providing minor relief to miners. Bitcoin’s Price Movements and Outlook - Bitcoin’s price has dipped 2% in the last 24 hours but remains up 3.9% for the week, trading at $68,132. The market is watching for the US SEC’s decision on spot Ethereum ETFs, which could impact the entire crypto market. Analyst BitQuant predicts Bitcoin could reach $95,000, with a rise to $80,000 expected in May, followed by a sharp decline in June, while maintaining the overall timeline for this peak remains unchanged. Source - newsbtc.com #CryptoTrends2024 #cryptocurrency #BinanceSquareBTC
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