Binance Square
Home
Notification
Profile
Trending Articles
News
Bookmarked and Liked
Creator Center
Settings
LIVE
LIVE
MarsNext
--・9.7k views
💥💥💥 Why #bitcoin , #Ethereum , and #Dogecoin‬⁩ Surged Today The #cryptocurrency market surged after Federal Reserve Chairman Jerome Powell hinted at a potential rate cut, catching many investors off guard, as they had anticipated a hike. With a more accommodative monetary policy on the horizon, risk assets like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) all saw gains of 3.8%, 2.2%, and 4% respectively, by 4 p.m. ET Thursday. Besides Powell's comments, specific factors are influencing these digital assets: - Bitcoin's Outlook: Despite concerns about momentum loss, Bitcoin's near and medium-term outlook is bullish. Lower interest rates are expected to weaken the U.S. dollar, benefiting commodities and store-of-value assets like Bitcoin. - Ethereum's Prospects: Ethereum stands to gain from capital inflows into cryptocurrencies. Expectations for SEC approval of spot Ethereum ETFs and its transition to a proof-of-stake protocol enhance bullish sentiment. - Dogecoin's Appeal: Dogecoin remains a speculative asset favored by traders seeking short-term gains. Recent liquidation data may have contributed to its pronounced move during the rally. - Sustainability of the Rally: While the surge is significant, broader context is crucial. Bitcoin remains below its all-time high, and the rally's sustainability depends on factors like additional catalysts and market sentiment. Monitoring Bitcoin is key, as it often dictates the direction of the overall cryptocurrency market. Source - finance.yahoo.com

💥💥💥 Why #bitcoin , #Ethereum , and #Dogecoin‬⁩ Surged Today

The #cryptocurrency market surged after Federal Reserve Chairman Jerome Powell hinted at a potential rate cut, catching many investors off guard, as they had anticipated a hike.

With a more accommodative monetary policy on the horizon, risk assets like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) all saw gains of 3.8%, 2.2%, and 4% respectively, by 4 p.m. ET Thursday.

Besides Powell's comments, specific factors are influencing these digital assets:

- Bitcoin's Outlook: Despite concerns about momentum loss, Bitcoin's near and medium-term outlook is bullish. Lower interest rates are expected to weaken the U.S. dollar, benefiting commodities and store-of-value assets like Bitcoin.

- Ethereum's Prospects: Ethereum stands to gain from capital inflows into cryptocurrencies. Expectations for SEC approval of spot Ethereum ETFs and its transition to a proof-of-stake protocol enhance bullish sentiment.

- Dogecoin's Appeal: Dogecoin remains a speculative asset favored by traders seeking short-term gains. Recent liquidation data may have contributed to its pronounced move during the rally.

- Sustainability of the Rally: While the surge is significant, broader context is crucial. Bitcoin remains below its all-time high, and the rally's sustainability depends on factors like additional catalysts and market sentiment. Monitoring Bitcoin is key, as it often dictates the direction of the overall cryptocurrency market.


Source - finance.yahoo.com

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
Explore the lastest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Relevant Creator
LIVE
MarsNext
@MarsNext

Explore More From Creator

🔥🔥🔥 #bitcoin #Layer2 #Ark Protocol's Team Forms New Firm as Lightning Network Competitor Ark Labs: Revolutionizing Bitcoin Payments with Scalable, Low-Cost Solutions - Ark Labs aims to enhance Bitcoin payments by addressing the limitations of the Lightning Network. Founded by Burak Keceli, the team behind the Bitcoin layer-2 protocol Ark is developing a faster, cheaper payment system on the Bitcoin blockchain. Despite Keceli's departure, Ark Labs continues to advance his vision, focusing on overcoming the "inbound liquidity" problem of the Lightning Network. Building on Lightning's Foundation - Ark Labs seeks to offer an alternative to the Lightning Network by developing an open implementation of the Ark Protocol and introducing user-centric services. The firm's primary goal is to create a more efficient payment system by leveraging service providers who offer 24-hour liquidity services for a fee, thus eliminating the need for users to commit funds upfront. Addressing the Inbound Liquidity Problem - Keceli highlighted the inbound liquidity issue in the Lightning Network, where users need funds to receive payments, as a significant drawback. Ark aims to solve this by facilitating off-chain payments without requiring users to lock up funds. How Ark Works - Ark employs an innovative unspent transaction output (UTXO) model, using virtual unspent transaction outputs (VTXOs) for unidirectional, one-time-only payments. This approach simplifies the payment process, making it more efficient and practical. Conclusion Ark Labs is set to revolutionize Bitcoin payments by addressing key issues in the Lightning Network, offering a scalable, low-cost alternative focused on open implementation and user-friendly services. Source - coindesk.com #CryptoNews🔒📰🚫 #BinanceSquareBTC
--
💥💥💥 5 Real World Assets (RWA) #Altcoins👀🚀 to Trade in June 2024 1. #Avalanche (AVAX) Avalanche (AVAX) has consolidated between $40 & $32 recently, with multiple attempts to break these levels proving unsuccessful. Currently trading at $34 near the $32 support, AVAX faces potential downward pressure if the broader market remains bearish, possibly dropping to $31. However, a breakout from this range could push AVAX towards $45, reaching a multi-month high. 2. #Chainlink (LINK) Chainlink (LINK) is following broader market trends, possibly indicating a slight correction. Despite a profitable May with a 44% increase in price, LINK faced resistance at $18.78, failing to break through as in April. This led to a drop to $17.7, with potential further decline to $16.55. Conversely, a breakout above $18.78 could trigger a recovery, pushing LINK towards $20 & beyond. 3. #InternetComputer (ICP) Internet Computer (ICP) has seen little movement in the past month & a half, mostly trading sideways. Priced at $12.12, it failed to surpass the $15.34 resistance. The Relative Strength Index (RSI) sits below 50, indicating potential for a recovery if it holds as support. If successful, ICP could rally above $12.91 & $15.34, aiming for $17.92. 4. Synthetix Network ($SNX ) Synthetix (SNX), with a market cap of $876 million, isn't in the top 50 or 100 cryptocurrencies but is a notable RWA token. Initially boosted by AI hype, SNX has seen its bullish momentum wane, leading to a price decline. Currently consolidating below $3.15 but above $2.33, a break above or below these levels could signal the end of consolidation, potentially leading to a rally or breakdown. 5. #Maker (MKR) Maker (MKR) is currently at a three-month low of $2,384, declining since early April from a peak of $4,000. Hovering near the $2,556 support level, MKR faces potential further decline to $2,271 if this level breaks. However, positive market signals could drive a recovery, propelling MKR above the $2,693 resistance towards $3,159, which would negate the bearish trend. Source - beincrypto.com
--
💥💥💥 #BNB⁩ Price Holds Above $630 With Bullish Conviction; Should You Buy? BNB has been gaining for the past two consecutive sessions, rising convincingly by over 5%. If buyers can maintain this momentum, it could pave the way for a new all-time high in the short term. This surge follows the news of Binance’s ex-CEO #ChangpengZhao (CZ) receiving a four-month jail term. A US federal judge sentenced CZ for failing to implement robust anti-money laundering policies. As of now, BNB is trading at $629, up 0.58% for the day. Coinmarketcap reports a 24-hour trading volume of $2,422,606, coinciding with the price increase. Additionally, Open Interest (OI) has spiked by 24% in the past 24 hours, indicating growing investor interest in the coin. On the 1-hour timeframe, BNB is trading near a bullish trend line that extends from the low of $594.94 on June 2. After reaching a high of $637.56, the price retreated slightly, giving sidelined buyers an opportunity to enter long positions. To sustain the upside momentum, bulls need to hold the session's low. For further gains, the first resistance level is at the previous day’s high of $637.56, followed by $645. Conversely, if bearish momentum takes over, support could be found at the $627 level. Technical Indicators: Moving Average: Bullish Bias - BNB is holding above the 21-hour SMA, currently at $627.17. The formation of multiple green candles at this support level indicates a demand zone. RSI (14): Bullish Bias - The Relative Strength Index (RSI) is at 53, suggesting a bullish bias in the short term. In summary, BNB appears bullish on the short-term timeframe with upside targets in view. However, confirmation is needed before making aggressive trades. Source - thecryptobasic.com #CryptoTrends2024 #BinanceSquareUpdates #BinanceSquareTalks
--
🔥🔥🔥 #shibaInu ($SHIB ) Enters 'Red Zone' After Price Drops Below Crucial Support Shiba Inu (SHIB) was steadily gaining traction in the market, seemingly poised for an upcoming bounce. However, a rapid change has altered the landscape. The price has fallen below the 50-day Exponential Moving Average (EMA) and shows no signs of recovering. Currently, SHIB's position is precarious due to this sudden decline. Breaking below the 50 EMA, a crucial support level, indicates that sellers are gaining control. The 200 EMA now serves as the next major support, though it is holding on only tentatively. If bearish pressure continues, SHIB might test the 200 EMA and potentially drop further. Selling volume surged as SHIB broke below the 50 EMA, suggesting traders are cutting their losses due to waning confidence. This trend could worsen. The Relative Strength Index (RSI) is hovering just above the oversold area, indicating that SHIB is currently oversold. However, this does not guarantee a rebound. Moving averages, crucial in technical analysis, are not in SHIB's favor. The 20 EMA crossing below the 50 EMA forms a bearish crossover, often signaling further declines. Monitor this pattern closely, as it typically precedes additional downturns. SHIB trading below all major moving averages is a broadly bearish signal. Given the current price movement, SHIB needs a significant uptick to avoid further losses. Ideally, it should quickly regain the 50 EMA to restore market confidence. While the 200 EMA is a potential support level to watch, traders should also prepare for more declines if this level is breached. Source - u.today #CryptoTrends2024 #BinanceSquareTalks #cryptocurrency #CryptoMarket
--
💥💥💥 ‘Bitcoin Fixes This’: #Bitcoiners Take Aim at Berkshire Hathaway Amid Stock Glitch Bitcoin enthusiasts had a laugh at Berkshire Hathaway CEO Warren Buffett on Monday after his company seemingly plummeted 99% in value. At 9:49 am ET, Berkshire’s class A shares (BRK.A) nosedived from $621,000 to just $185, causing the New York Stock Exchange (NYSE) to temporarily halt trading. The dramatic drop was due to a technical glitch at the NYSE, affecting other major companies like the Bank of Montreal (BMO). The issue was resolved within a few hours, and BRK.A ended the day up 0.59%. The massive red candle was ironic for Buffett, a Bitcoin critic who called crypto "rat poison squared" in 2018. Since then, BRK.A is up 114%, while Bitcoin has soared 600%. “Who’s the rat poison now, eh,” tweeted Blockstream CEO Adam Back. Buffett’s late vice-chairman Charlie Munger was equally critical of crypto, calling Bitcoin a “stupid” and “evil” investment likely to “go to zero.” “This is not a crypto rug pull; this is Berkshire Hathaway,” tweeted WallStreetBets. Many joked about Buffett’s temporary net worth wipeout and the brief investment opportunity. “Finally, I have a chance to acquire Warren Buffett,” quipped Tron founder Justin Sun. “If you bought $500 of Berkshire Hathaway 10 minutes ago, it would now be worth over $2 million,” tweeted crypto meme account “greg” after the stock rebounded. “Let that sink in.” Crypto exchange Kraken and whistleblower Edward Snowden highlighted that Bitcoin trading can’t be halted like BRK.A was. “Bitcoin fixes this,” Snowden tweeted. While the Bitcoin network operates 24/7, centralized exchanges have frequently halted Bitcoin trading and withdrawals, sometimes indefinitely. Price glitches also occur, such as a BTC flash crash below $9,000 on #BitMEX two months ago. Buffett didn’t address the sudden Berkshire crash, but meme accounts had a field day, putting words in his mouth reminiscent of previous crypto catastrophes. Source - decrypt.co #CryptoTrends2024 #BinanceSquareTalks
--

Latest News

Cardano Founder Discusses Network's Security Sustainability
--
Cardano Derivatives Trading Volume Increases By 28.9% In 24 Hours
--
Digital Assets Essential for Diversification, Says Morgan Creek Capital Founder
--
Elon Musk Reacts To Berkshire Hathaway Stock Glitch
--
TON Coin Gains Traction With 8% Growth, Demonstrating Market Resilience
--
View More
Sitemap
Cookie Preferences
Platform T&Cs
Sitemap
Platform T&Cs
ba-one-trust-cookie