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Michael Saylor: “Chaos is good for Bitcoin”
The co-founder and CEO of MicroStrategy made it clear that instability in the world plays into the hands of Bitcoin holders.
Michael Saylor, against the background of the escalating conflict in the Middle East between Israel and Iran, announced, verbatim:
“Chaos is good for Bitcoin”
The head of research at CryptoQuant, Julio Moreno, agreed with him. The collapse of the cryptocurrency market was necessary:
“This sell-off is needed to reset traders' unrealized profits to zero - usually a bottom signal in a bullish trend. Following the sell-off, traders' unrealized gains are at their lowest level since February (10%)."
On the evening of April 13, the price of Bitcoin fell below $61,000, but on the morning of April 14, the rate partially recovered to $64,500.
Previously, Michael Saylor promised that Bitcoin would “eat gold”, since the first cryptocurrency has all the advantages of the precious metal, but does not have the inherent disadvantages of gold.
$BTC
#BTC #Bitcoin #
The co-founder and CEO of MicroStrategy made it clear that instability in the world plays into the hands of Bitcoin holders.
Michael Saylor, against the background of the escalating conflict in the Middle East between Israel and Iran, announced, verbatim:
“Chaos is good for Bitcoin”
The head of research at CryptoQuant, Julio Moreno, agreed with him. The collapse of the cryptocurrency market was necessary:
“This sell-off is needed to reset traders' unrealized profits to zero - usually a bottom signal in a bullish trend. Following the sell-off, traders' unrealized gains are at their lowest level since February (10%)."
On the evening of April 13, the price of Bitcoin fell below $61,000, but on the morning of April 14, the rate partially recovered to $64,500.
Previously, Michael Saylor promised that Bitcoin would “eat gold”, since the first cryptocurrency has all the advantages of the precious metal, but does not have the inherent disadvantages of gold.
$BTC
#BTC #Bitcoin #
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Bitcoin whales are not interested in massive BTC sales
Network metrics indicate that the influx of Bitcoin coins to large centralized crypto platforms remains low. This situation indicates the reluctance of large investors to initiate massive sales. Experts from CryptoQuant came to this conclusion.
In their analysis, the experts referred to the “Exchange Inflow” indicators. It tracks the total number of BTC coins that investors transfer to centralized exchanges. If the metric is at high values, this indicates that users are massively transferring assets to sites. On the contrary, low values indicate that investors prefer to keep coins in cold storage.
Representatives of CryptoQuant evaluated the metric within Binance and OKX. Of course, these services do not cover the market completely. But they remain one of the largest, so the overall balance of power can be assessed. At the moment, the “Inflow of exchange” remains low, therefore there are no prerequisites for a serious drawdown of Bitcoin, CryptoQuant emphasized.
#BTC #Bitcoin #BullorBear $BTC
Network metrics indicate that the influx of Bitcoin coins to large centralized crypto platforms remains low. This situation indicates the reluctance of large investors to initiate massive sales. Experts from CryptoQuant came to this conclusion.
In their analysis, the experts referred to the “Exchange Inflow” indicators. It tracks the total number of BTC coins that investors transfer to centralized exchanges. If the metric is at high values, this indicates that users are massively transferring assets to sites. On the contrary, low values indicate that investors prefer to keep coins in cold storage.
Representatives of CryptoQuant evaluated the metric within Binance and OKX. Of course, these services do not cover the market completely. But they remain one of the largest, so the overall balance of power can be assessed. At the moment, the “Inflow of exchange” remains low, therefore there are no prerequisites for a serious drawdown of Bitcoin, CryptoQuant emphasized.
#BTC #Bitcoin #BullorBear $BTC
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DogWifHat Investors Target New Green ICO
As Dogwifhat (WIF) declines from previous weekly highs, WIF investors are targeting a new green ICO called eTukTuk (TUK) as they eye a potential 10,000% return in 2024.
WIF last changed hands at about $3.46, down nearly 20% from this week's highs of $4.30.
The rising Solana meme coin threatens to break below its 21DMA and find support in the $3.20-$60 area.
This could open the door for a pullback to the 50DMA around $2.50.
Dogwifhat (WIF) is under pressure and could fall further. So it's no surprise that investors are transferring funds to eTukTuk's new green ICO. Source: TradingView
Given the dim outlook for the meme coin market, it's no surprise that WIF investors are targeting the new green ICO of eTukTuk (TUK), a lesser-known token that could surge 10,000% this year.$WIF #WIF🔥🔥 #MemeSeason #memecoin
As Dogwifhat (WIF) declines from previous weekly highs, WIF investors are targeting a new green ICO called eTukTuk (TUK) as they eye a potential 10,000% return in 2024.
WIF last changed hands at about $3.46, down nearly 20% from this week's highs of $4.30.
The rising Solana meme coin threatens to break below its 21DMA and find support in the $3.20-$60 area.
This could open the door for a pullback to the 50DMA around $2.50.
Dogwifhat (WIF) is under pressure and could fall further. So it's no surprise that investors are transferring funds to eTukTuk's new green ICO. Source: TradingView
Given the dim outlook for the meme coin market, it's no surprise that WIF investors are targeting the new green ICO of eTukTuk (TUK), a lesser-known token that could surge 10,000% this year.$WIF #WIF🔥🔥 #MemeSeason #memecoin
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Bitcoin address activity drops to two-week low
The number of addresses participating in daily transactions is decreasing in the Bitcoin network. The day before it fell to 898,850.
Santiment found that network activity is at its lowest level since March 31st.
The BTC rate on Wednesday, April 10, dropped to $68,803.
During the day, the digital currency fell in price by 2.5%. Investor activity remains weak as stock markets await the release of US inflation data.
Yield rates on Treasury bonds today rose to 4.7449% per annum, CNBC reported. Economists polled by Dow Jones expect inflation to rise 0.3% in March compared with the previous month.
In annual terms, consumer prices increased by 3.7%. High inflation forces the Federal Reserve to abandon monetary easing.
Therefore, the inflow of capital into stock markets, excluding cryptocurrencies, will remain low if forecasts of rising inflation are confirmed, experts say.
In this case, the best-performing asset will be gold. The precious metal may jump above $2,600 during 2024, says Jurg Kiener, head of the investment division of Asia Capital.
$BTC
The number of addresses participating in daily transactions is decreasing in the Bitcoin network. The day before it fell to 898,850.
Santiment found that network activity is at its lowest level since March 31st.
The BTC rate on Wednesday, April 10, dropped to $68,803.
During the day, the digital currency fell in price by 2.5%. Investor activity remains weak as stock markets await the release of US inflation data.
Yield rates on Treasury bonds today rose to 4.7449% per annum, CNBC reported. Economists polled by Dow Jones expect inflation to rise 0.3% in March compared with the previous month.
In annual terms, consumer prices increased by 3.7%. High inflation forces the Federal Reserve to abandon monetary easing.
Therefore, the inflow of capital into stock markets, excluding cryptocurrencies, will remain low if forecasts of rising inflation are confirmed, experts say.
In this case, the best-performing asset will be gold. The precious metal may jump above $2,600 during 2024, says Jurg Kiener, head of the investment division of Asia Capital.
$BTC
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Ethereum price rose 8% due to rumors of ETF approval
Ethereum has outpaced the rest of the crypto market in growth. The ETH cryptocurrency rate increased by 8% per day. This is associated with rumors about the possible approval of spot ETH ETFs.
The Ethereum (ETH) rate immediately increased by 8% per day. The current figure is slightly lower – 5%, and prices remain close to $3,600. This is above the average growth rate in the crypto segment. The rise of ether is associated with rumors about the upcoming decision of the US Securities Commission. Observers are speculating that the SEC will approve applications for spot Ethereum ETFs in May.
New impetus to the rumors was given by Edward Chin, co-founder of the hedge fund Parataxis Capital. He noted that the ETH ETF issuers met with the Commission. Applications to launch spot ETFs providing access to ether were submitted by Fidelity and BlackRock. These funds dominate the US spot Bitcoin ETF market.
At the same time, Bloomberg observers James Seyffart and Eric Balchunas estimate the chances of approval of the ETH ETF at 25%.
In general, the United States has not been a leader in the adoption of such instruments. The world's first Ethereum ETF was launched on the Toronto Stock Exchange (Canada) in 2021.
#eth #EthereumETF #Ethererum #ETH $ETH
Ethereum has outpaced the rest of the crypto market in growth. The ETH cryptocurrency rate increased by 8% per day. This is associated with rumors about the possible approval of spot ETH ETFs.
The Ethereum (ETH) rate immediately increased by 8% per day. The current figure is slightly lower – 5%, and prices remain close to $3,600. This is above the average growth rate in the crypto segment. The rise of ether is associated with rumors about the upcoming decision of the US Securities Commission. Observers are speculating that the SEC will approve applications for spot Ethereum ETFs in May.
New impetus to the rumors was given by Edward Chin, co-founder of the hedge fund Parataxis Capital. He noted that the ETH ETF issuers met with the Commission. Applications to launch spot ETFs providing access to ether were submitted by Fidelity and BlackRock. These funds dominate the US spot Bitcoin ETF market.
At the same time, Bloomberg observers James Seyffart and Eric Balchunas estimate the chances of approval of the ETH ETF at 25%.
In general, the United States has not been a leader in the adoption of such instruments. The world's first Ethereum ETF was launched on the Toronto Stock Exchange (Canada) in 2021.
#eth #EthereumETF #Ethererum #ETH $ETH
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On-chain metrics signal a 42% increase in the price of Shiba Inu
The popular memecoin Shiba Inu (SHIB) is moving within a bullish pattern, a breakout of which could mark the start of a new rally.
Positive investor sentiment, reflected in a decrease in the number of transfers to exchanges, is pushing SHIB towards growth.
Investor confidence in Shiba Inu is rising again
Shiba Inu investors remain positive despite the recent correction. This can be seen from the decrease in the number of token transfers to exchanges, which signals the reluctance of holders to sell the asset at the current price.
Active SHIB deposits. Source: Santiment
Additionally, more SHIBs are now moving from short-term to long-term holders. The former own the asset for less than a month, while the latter hold it for up to 12 months.
The popular memecoin Shiba Inu (SHIB) is moving within a bullish pattern, a breakout of which could mark the start of a new rally.
Positive investor sentiment, reflected in a decrease in the number of transfers to exchanges, is pushing SHIB towards growth.
Investor confidence in Shiba Inu is rising again
Shiba Inu investors remain positive despite the recent correction. This can be seen from the decrease in the number of token transfers to exchanges, which signals the reluctance of holders to sell the asset at the current price.
Active SHIB deposits. Source: Santiment
Additionally, more SHIBs are now moving from short-term to long-term holders. The former own the asset for less than a month, while the latter hold it for up to 12 months.
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ENA token quotes soared by 15% in a few hours #ena $ENA
The value of the ENA cryptocurrency jumped sharply after news from the developers. The fact is that the native token of Ethena Labs increased in value by 15% as of April 8, 2024, after the announcement of the “start of Season 2.” This implies an increase in rewards for some users by 50%.
According to analytical trackers, the price of the ENA token jumped from $1.11 to $1.3 in less than 2 hours. Let us remind you that this virtual asset entered the market last week and was trading at $0.64. Currently, the market capitalization of the digital currency is $1.84 billion. This has allowed it to rise to 66th position in the ranking of the world's best cryptocurrencies. Daily volumes of transactions with ENA reached $1.18 billion.
The value of the ENA cryptocurrency jumped sharply after news from the developers. The fact is that the native token of Ethena Labs increased in value by 15% as of April 8, 2024, after the announcement of the “start of Season 2.” This implies an increase in rewards for some users by 50%.
According to analytical trackers, the price of the ENA token jumped from $1.11 to $1.3 in less than 2 hours. Let us remind you that this virtual asset entered the market last week and was trading at $0.64. Currently, the market capitalization of the digital currency is $1.84 billion. This has allowed it to rise to 66th position in the ranking of the world's best cryptocurrencies. Daily volumes of transactions with ENA reached $1.18 billion.
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#BinanceTurns7 Come celebrate 7 years of Binance with us to unlock digital badges and win some exclusive 7YA swag!
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