Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Source: NewsBTC.com

The post Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend appeared first on Crypto Breaking News.

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Source: NewsBTC.com

The post Bitcoin Near ‘Euphoria’ Boundary: What Happens After A Breach? appeared first on Crypto Breaking News.

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Source: NewsBTC.com

The post XRP Price Dips Again: What’s Causing The Continued Slide? appeared first on Crypto Breaking News.

The XRP price is seeing another triangle formation on its chart that could point to an impending rally. One important fact about this triangle formation is the fact that it led to a significant rally seven years ago, and if history repeats itself, then XRP may be set for a bullish wave.

XRP Triangle Formation Signals Bullish Continuation

In an analysis on TradingView, crypto analyst TradingShot pointed out that the XRP price is seeing another triangle formation. This formation comes from the culmination of a number of indicators, all of which have become bullish during this time.

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The indicators pointed out by the crypto analyst include the price closing below its 1W MA50 and 1W MA200. While, at first glance, this could look bearish, it can be a bit signal that propels the price up as investors start to get back in at low prices. This is also made obvious by the 1W RSI dropping to 40.00, as historically, this indicator at this level has always presented a buying opportunity.

Furthermore, the crypto analyst points out that the XRP price is currently testing the bottom with the higher lows trend line. All of these have come together to form a triangle structure that has not been seen since 2013-2017.

This triangle structure is important given that the last time it appeared in 2013 and eventually broke out in 2017, the XRP price went on to rally to new all-time highs. Therefore, the appearance of this triangle structure this time around could signal the start of another bullish trend that pushes the altcoin’s price toward new all-time highs as well.

How Far Can The Price Go?

In the scenario where the XRP price does follow the 2013-2017 trend and a breakout occurs, the crypto analyst does see the price reaching a new all-time high. However, for this to happen and for the bullish trend to be confirmed, the price will have to break above the 1W MA200, as the analyst explains.

Related Reading: Crypto Research Firm Says Bitcoin Crash Below $60,000 May Not Be The End, Here’s Why

In such a case that the altcoin does break this important level, TradingShot puts the price as high as $4.5. Such a move would mean an over 800% increase in value from where the XRP price is currently sitting at $0.47.

However, as with any bullish scenario, there is also the possibility that the trend fails to actualize. In the event that the price does not break the 1W MA200, the crypto analyst advises “that the XRP army will need a need narrative to hang on to, as the long-term pattern would have failed them.”

Token price continues to fluctuate | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Triangle Formation That Sparked The 2017 XRP Rally Returns, What’s The Target? appeared first on Crypto Breaking News.

Ethereum price struggled to recover above the $3,420 resistance zone. ETH is consolidating and might decline again if there is a move below $3,320.

Ethereum is struggling to gain pace for a move above the $3,420 zone.

The price is trading below $3,400 and the 100-hourly Simple Moving Average.

There is a connecting bearish trend line forming with resistance near $3,400 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $3,400 and $3,425 resistance levels to continue higher.

Ethereum Price Faces Hurdles

Ethereum price started a decent recovery wave above the $3,320 level. ETH even cleared the $3,350 level but the bears were active near $3,420. A high was formed at $3,426 and the price corrected gains like Bitcoin.

There was a move below the $3,380 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,230 swing low to the $3,426 high. The bulls are now trying to protect more downsides below the $3,320 level.

Ethereum is still trading below $3,400 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the trend line and $3,400. There is also a connecting bearish trend line forming with resistance near $3,400 on the hourly chart of ETH/USD.

The first major resistance is near the $3,420 level. The main resistance is near the $3,450 level. A close above the $3,450 level might send Ether toward the $3,550 resistance.

Source: ETHUSD on TradingView.com

The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher. The next hurdle sits at $3,680, above which the price might gain traction and rise toward the $3,720 level. Any more gains could send Ether toward the $3,880 resistance zone.

Another Drop In ETH?

If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near $3,350. The first major support sits near the $3,320 zone and the 50% Fib retracement level of the upward move from the $3,230 swing low to the $3,426 high.

A clear move below the $3,320 support might push the price toward $3,250. Any more losses might send the price toward the $3,200 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,320

Major Resistance Level – $3,400

Source: NewsBTC.com

The post Ethereum Price Roadblocks: What’s Hindering A Fresh Increase? appeared first on Crypto Breaking News.

Bitcoin price failed to recover above the $62,500 resistance zone. BTC is showing bearish signs and might decline again below the $60,000 support.

Bitcoin struggled to recover above the $62,200 and $62,500 levels.

The price is trading below $62,000 and the 100 hourly Simple moving average.

There is a major bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair might start another decline unless there is a close above the $62,000 resistance zone.

Bitcoin Price Remains At Risk

Bitcoin price started a recovery wave above the $61,200 zone. BTC even attempted a move above the $62,000 resistance zone. However, the bears were active near the $62,500 zone.

A high was formed at $62,454 and the price is now moving lower. There was a move below the $61,500 level. The price declined below the 23.6% Fib retracement level of the upward move from the $58,448 swing low to the $62,454 high.

Bitcoin price is trading below $62,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair.

The price is now stable above the 50% Fib retracement level of the upward move from the $58,448 swing low to the $62,454 high. If there is another increase, the price could face resistance near the $61,500 level. The first key resistance is near the $61,850 level and the trend line.

Source: BTCUSD on TradingView.com

The next key resistance could be $62,000. A clear move above the $62,000 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $62,500 resistance. Any more gains might send BTC toward the $63,500 resistance in the near term.

More Losses In BTC?

If Bitcoin fails to climb above the $62,000 resistance zone, it could start another decline. Immediate support on the downside is near the $60,450 level.

The first major support is $60,000. The next support is now forming near $59,500. Any more losses might send the price toward the $58,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $60,500, followed by $60,000.

Major Resistance Levels – $62,000, and $62,500.

Source: NewsBTC.com

The post Bitcoin Price Faces Potential Dive: Key Support Levels to Monitor appeared first on Crypto Breaking News.

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo’s defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo’s commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo’s writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo’s aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

Source: NewsBTC.com

The post ‘Crypto Queen’ Wanted: FBI Puts $5 Million Price Tag On OneCoin Founder’s Arrest appeared first on Crypto Breaking News.

In a recent surge of online discussion, renowned crypto analyst and entrepreneur Willy Woo has made headlines with his optimistic prediction for Bitcoin’s future on Elon Musk’s social media platform, X.

Woo suggests that Bitcoin, already gaining traction among traditional financial circles as an emerging asset class, could see exponential growth.

He argued that if Bitcoin continues to be perceived at the scale of major asset classes, traditionally valued in the tens of trillions of dollars, it could potentially increase in value tenfold in the coming years.

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Current Market Dynamics and Predictions

Woo’s insight comes at a critical time for Bitcoin, which currently faces fluctuating market conditions. Despite the downturn, he projects that Bitcoin could rival the US dollar and emerge as a global reserve asset by the 2030s, aligning with a projected 25-40% global adoption rate.

Bitcoin (BTC) adoption S-curve. | Source: Willy Woo on X

His stance is rooted in the growing recognition of Bitcoin on Wall Street, highlighting a significant shift in how traditional financial markets are beginning to view digital currencies.

Everyone asking “when?”

I’d say when we into the range of 25-40% world adoption.

I.e. 2030s pic.twitter.com/Sdsw5PNrZM

— Willy Woo (@woonomic) June 25, 2024

Despite Woo’s long-term optimism, Bitcoin’s immediate trajectory remains challenged, with recent data indicating a decline. Over the past week, Bitcoin has seen a reduction of 5.3% in value, with a slight 0.1% drop in the last 24 hours, stabilizing at a market price of $61,486.

BTC price is moving downwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

Keith Alan, Co-founder of TeamBlacknox, remains cautiously optimistic, noting that while Bitcoin could retest its lows, the broader trend could remain “intact” if monthly closures stay between $56.5k and $61.8k.

Gauging Bitcoin Potential Rebound and Future Growth

Adding to the discourse, CryptoQuant analyst Gustavo Faria highlighted signs that Bitcoin might have reached a local bottom. The analysis pointed out a reduction in open interest in the futures market and a drop in funding rates for perpetual contracts, suggesting a balance restoration between buyers and sellers.

This equilibrium is crucial for maintaining a healthy market structure without excessive optimism that typically leads to sharp corrections.

Signs of a Local Bottom?

After a 15% correction, #Bitcoin shows potential signs of a local bottom. Open interest has declined, funding rates are near zero, suggesting a more balanced market. Crucial U.S. economic data incoming. Is the tide turning? – By Gustavo Faria

Full post… pic.twitter.com/nRCDVawmFa

— CryptoQuant.com (@cryptoquant_com) June 26, 2024

The ongoing discussion around Bitcoin’s future also considers broader economic indicators such as upcoming US macroeconomic data, including GDP, initial jobless claims, and inflation data. These factors are poised to influence market sentiment significantly in the near term.

Furthermore, Bitcoin’s positioning on the Bitcoin Rainbow Chart, which currently indicates a “Buy” zone, and historical price cycles following Halving events suggest further potential for growth.

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Analysts anticipate that these technological and market cycles could propel Bitcoin’s price to as high as $260,000 by around September-October 2025.

Featured image created with DALL-E, Chart from TradingView

Source: NewsBTC.com

The post Bitcoin To Hit New Heights? Analyst Predicts 10x Growth In Few Years — Here’s How appeared first on Crypto Breaking News.

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

Source: NewsBTC.com

The post Master Of Scams: Metallica’s Hacked X Account Promotes Solana Token appeared first on Crypto Breaking News.

Dogecoin (DOGE) whales look to have used this recent price crash as an opportunity to accumulate the foremost meme coin. This provides a positive development for Dogecoin, and the meme coin has already reacted positively, seeing how its price has recovered in the last 24 hours. 

Dogecoin Whales Accumulate More DOGE

Data from the market intelligence platform IntoTheBlock shows that Dogecoin witnessed $1 billion in large transactions these past few days. Large transactions refer to ones that involve $100,000 worth of Dogecoin or more being traded. An increase in the large transactions suggests that whales are either accumulating more Dogecoin or looking to offload their tokens. 

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Source: IntoTheBlock

Further data from IntoTheBlock suggests that these whales are indeed accumulating more Dogecoin following this recent market decline. The net flows to exchanges metric has been negative over the past seven days, which shows that these whales have been buying the dip rather than moving their holdings to exchanges to offload their tokens. 

Source: IntoTheBlock

This presents a bullish outlook for DOGE and again highlights these investors’ conviction in the foremost meme coin. This wave of accumulation by Dogecoin whales is also significant as it could help spark a price recovery for Dogecoin, which had dropped to as low as $0.11 following the recent market decline. 

Besides this wave of accumulation, Dogecoin already looked poised to rebound to the upside as the market value to realized value (MVRV) ratio showed that the meme coin was greatly undervalued at its current price levels. Crypto analyst Kriss Pax also recently predicted that Dogecoin should enjoy a massive bounce from here and significantly move to the upside. 

The analyst alluded to DOGE’s relative strength index (RSI) which he noted painted a bullish picture for the meme coin. Interestingly, he suggested this was the right time to buy Dogecoin as he didn’t foresee the meme coin going lower than its current price level. Pax also alluded to the growing altcoin dominance, which could usher in the altcoin season when coins like Dogecoin are expected to enjoy a massive rally. 

DOGE Will Still Reach As High As $2 In This Market Cycle

Crypto analyst Crypto Kaleo recently provided a bullish narrative for Dogecoin, predicting that the foremost meme coin can rise to $1 and $2 in this bull run. He noted that the foremost meme coin has traded sideways for most of its existence, but when it pumps, it is always parabolic, alluding to how the meme coin had rallies where it enjoyed a 6,000% and 30,000% price gain in the past. 

Source: X

Crypto Kaleo mentioned that these moves occurred 8 to 9 months after the previous halvings. Based on historical trends, it is fitting that DOGE doesn’t enjoy a real breakout until sometime between December this year and February next year. 

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Crypto Kaleo predicts that Dogecoin could drop to as low as $0.08, retracing its price levels before the massive rally it enjoyed this year. He claims that such a move would be similar to the -30% drawdown and retrace that occurred in August 2020, several months before Dogecoin wet mainstream and began to pump massively. 

DOGE price at $0.12 | Source: DOGEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Dogecoin Sees Rapid Accumulation Amid Price Crash, Whale Transactions Soar appeared first on Crypto Breaking News.

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

Source: NewsBTC.com

The post Ethereum Price Tied To BitMEX Whales: Quant Uncovers Link appeared first on Crypto Breaking News.

The Cardano network recently faced a distributed denial of service (DDoS) attack, a malicious attempt to disrupt its operations. However, the mechanisms and decentralized structure of Cardano effectively mitigated the attack, ensuring uninterrupted stability and operation. 

This display of resilience has garnered praise from bullish investors and renewed confidence in the price appreciation prospects of Cardano’s native token, ADA.

DDoS Attack Propels Bullish Sentiment

Jaromir Tesar, an industry expert, highlighted that most services, including SundaeSwap, which processed many orders, continued to operate effectively during the attack. 

The attacker incurred transaction fees, resulting in financial losses without causing significant disruption. According to Tesar, this incident demonstrates Cardano’s ability to withstand and thwart malicious activities, establishing it as a winner in terms of network resilience.

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In an in-depth analysis of Cardano’s security, Tesar highlights the complexity of executing a DDoS attack on the network when compared to traditional client-server networks. 

Cardano’s distributed structure includes numerous nodes, each with its own memory pool, making simultaneous attacks on multiple nodes challenging. Unlike centralized systems, where attacks are directed at a limited number of servers, Cardano’s design distributes the network load across its nodes, making it much more resilient.

Within Cardano’s ecosystem, each block-producing node maintains a mem-pool, which acts as a waiting room for transactions before they are included in a block. Transactions are processed on a first-come, first-served basis, passing through relay nodes and diffusing to other block-producing nodes. 

Lastly, Tesar noted in its analysis that the demand-driven protocol of Cardano allows nodes to manage their data rate, concurrency, and data volume, thereby preventing overwhelming resource consumption. This protocol protects both parties involved in transaction transfers, mitigating the risk of resource consumption attacks.

Cardano Season Begins? 

Dan Gambardello, founder of Crypto Capital Venture, highlighted the top-tier security measures and decentralized design of Cardano as key reasons for his bullish sentiment. 

The ongoing attack showcased Cardano’s ability to handle such situations as intended. Interestingly, the attacker’s funds were exposed in the process and are now essentially being used to fund Cardano’s development, reinforcing the network’s resilience.

As “Cardano season” begins, Gambardello said, with anticipation and excitement surrounding the network growing, the recent DDoS attack serves as a testament to the strength and reliability of the Cardano ecosystem. 

Its security measures, decentralized architecture, rapid response from developers and users, and the exposure of attackers’ funds have added to the bullish sentiment surrounding Cardano’s prospects, Gambardello concluded. 

ADA Price Analysis

After experiencing a sharp correction that led to ADA’s price plummeting to a yearly low of $0.356 over the weekend, the cryptocurrency has regained the $0.392 level. 

Currently, it is setting its sights on overcoming the $0.400 resistance, expecting a potential price increase to bridge the gap between its current value and the yearly high of $0.811 achieved in March.

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Adding to the positive outlook for ADA’s price, technical analyst Ali Martinez recently identified a buy signal on ADA’s daily chart, indicated by the TD Sequential indicator. This signal anticipates a price rebound for the altcoin.

Nevertheless, it is crucial for ADA to successfully surpass its current resistance at $0.400 to continue recovering from the losses incurred in recent months. The next significant resistance level on the daily chart is at $0.439.

It remains to be seen if network developments and a general market recovery can lift the price of ADA to previously lost levels and start a new uptrend to surpass the $1 milestone.

The 1-D chart shows ADA’s price downtrend recorded over the past months. Source: ADAUSD on TradingView.com

Featured image from DALL-E, chart from TradingView.com

Source: NewsBTC.com

The post Cardano Holds Strong After DDoS Attack: Market Outlook Turns Bullish For ADA appeared first on Crypto Breaking News.

Bitcoin-based crypto investments have witnessed another week of outflow in what was an unpleasant week for Bitcoin and other cryptocurrencies. Bitcoin investors, in particular, were disappointed as they watched the price of the world’s biggest asset decline during the week, temporarily falling below $60,000. According to recent inflow data from CoinShares, this correction also flowed into crypto investment products. Notably, crypto investment products registered $584 million outflows last week to extend outflows to $1.2 billion in two weeks.

True Correction Is Underway For Bitcoin

According to the CoinShares report, most of the outflows were concentrated toward Bitcoin, with the crypto’s investment products registering $630 million last week. As the report noted, this outflow sentiment can be largely attributed to a growing pessimism amongst crypto investors for interest rate cuts by the FED this year. Furthermore, the continued outflow suggests that a true correction might be underway for Bitcoin. 

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However, while this correction might be going on, it might not necessarily translate to a completely negative sentiment for Bitcoin. Such an inference is made in light of a corresponding $1.2 million outflow in short Bitcoin products, which suggests that the majority of investors do not believe that Bitcoin will continue to decline over the long run. 

In terms of geographical location, the US saw the largest outflows, totaling $475 million. Interestingly, a majority of this recorded outflow originated from Spot Bitcoin ETFs trading in the US. According to data, Spot Bitcoin ETFs witnessed outflows every day last week, causing the lowest trading volume of $6.9 billion in investment products since their launch in January 2024. Outflows were also seen in Canada, Germany and Hong Kong at $109.3 million, $23.8 million and $19.3 million, respectively.

Ethereum, which had also been coming from an unpleasant week of price action, wasn’t left out of the negative sentiment and registered $58 million in outflows, its biggest weekly outflow in 2024.

Deviating from the outflow trend, many altcoin products witnessed surprising weekly inflows despite price declines on the spot market. This was headed by multi-asset products, which saw $98 million in inflows. Solana, Litecoin and Polygon also had inflows of $2.7 million, $1.3 million, and $1 million, respectively. 

More Price Correction Ahead?

This week will be crucial in determining whether Bitcoin and other cryptocurrencies will continue to experience price corrections. Time will tell if the recent volatility is a sign of further declines or a temporary dip. However, the price action observed in the past 24 hours suggests that the correction might be nearing its conclusion.

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Bitcoin, Ethereum, Solana, and many other cryptocurrencies have rebounded significantly, showing notable price increases over the past day. If sustained in the spot market, this upward trend could potentially lead to increased inflows into crypto investment products by the end of the week.

BTC price holding $61,000 | Source: BTCUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Bitcoin Crash Not Done: CoinShares Analyst Predicts ‘True Correction’ Amid Outflows appeared first on Crypto Breaking News.

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn’t just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn’t a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa’s full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

Source: NewsBTC.com

The post Bitcoin In Red, Analyst Predicts A 40% Drop To $48,000 Before Recovery appeared first on Crypto Breaking News.

In a continued effort to liquidate its substantial Bitcoin holdings, the German government has once again engaged in significant transactions involving BTC, according to data from blockchain analytics platforms Arkham Intel. This morning, the Federal Criminal Police Office (BKA) executed nine transactions involving a total of roughly 2,786 BTC.

German Gov’t Continues Its Bitcoin Sell-Off

Arkham Intel’s data shows that four of them are internal transfers while five transactions were direct transfers to crypto exchanges and market makers, suggesting an intent to sell. The five potential sales amount to 1,095.339 BTC worth approximately $67 million. Specifically, the BKA made two 125 BTC transfers, each worth approximately $7.7 million, to well-known crypt exchanges Bitstamp and Kraken.

An additional transaction involved a minute test transfer of 0.001 BTC to Flow Traders, a leading market maker. This small transaction was soon followed by a much larger transfer of 345.338 BTC to the same entity, strongly suggesting preparation for a substantial sell order.

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Another noteworthy transfer of 500 BTC was directed to an enigmatic address tagged as “139Po.” This address has seen previous activity linked to the German government but remains shrouded in mystery, speculated to be another sale point.

Bitcoin holdings Germany | Source: Arkham

These transactions form part of a broader trend observed since last week. Just a day prior, on June 25, the government had disposed of 400 Bitcoin worth $24 million on Kraken and Coinbase, as well as 500 BTC to address “139Po.”

This is in addition to significant movements earlier last week: $130 million worth of BTC were transferred to exchanges on June 19 and $65 million on June 20. Counterbalancing these outflows, the government received $20.1 million back from Kraken and $5.5 million from wallets associated with Robinhood, Bitstamp, and Coinbase.

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Currently, the German government’s holdings amount to 45,264 BTC, valued at around $2.8 billion. This makes Germany one of the top nation-state holders of Bitcoin, trailing only behind the United States, China, and the United Kingdom, which hold 213,246 BTC, 190,000 BTC, and 61,000 BTC respectively, according to data from Bitcoin Treasuries.

BTC Price Hangs Above Critical Level

The pattern of large-scale disposals by the German government has contributed to fluctuations in Bitcoin’s market price, which has experienced a decline of approximately 6% since the onset of these transactions. Bitcoin’s value briefly fell below the $60,000 threshold following the announcement from Mt. Gox about disbursing approximately $9 billion worth of Bitcoin and Bitcoin Cash starting in July.

Market analysts and investors are also keenly observing these governmental actions as the sell-off seems to continue at a slow pace. This strategic liquidation by the German government arrives at a pivotal juncture for market sentiment, with Bitcoin prices teetering just above critical support levels. Should the daily trading price close below the $60,000 threshold, it could potentially trigger a more pronounced downturn in Bitcoin’s price, exacerbating market volatility and uncertainty.

At press time, BTC traded at $61,451.

BTC price, 1-day chart | Source: BTCUSD on TradingView.com

Featured image created with DALL·E, chart from TradingView.com

Source: NewsBTC.com

The post Bitcoin Selloff: German Gov’t Offloads Another $67 Million As Price Wobbles appeared first on Crypto Breaking News.

Bitwise’s Chief Investment Officer (CIO) Matt Hougan recently discussed the inflows the US Spot Ethereum ETFs could attract. Specifically, he stated how much could flow into these funds in their first 18 months of trading. 

Spot Ethereum ETFs To Record $15 Billion In First 18 Months Of Trading

Hougan mentioned in a note to investors that the Spot Ethereum ETFs could record $15 billion in net inflows in their first 18 months of trading. He elaborated on how he arrived at these figures to show that it wasn’t just a guess. First, Hougan highlighted the market capitalizations of Bitcoin and Ethereum and stated that he expects investors to allocate to their respective exchange-traded products (ETPs) in proportion to their market caps. 

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Hougan noted that US investors have, so far, invested $56 billion in Spot Bitcoin ETPs and expects that figure to reach $100 billion or more by the end of 2025, when these funds should have matured further and be approved on platforms like Morgan Stanley and Merrill Lynch. 

Using this as a reference, Bitwise’s CIO stated that the Spot Ethereum ETFs would need to attract $35 billion in assets to stay on par with the Bitcoin ETFs, which he believes could take about 18 months to happen. Hougan also highlighted that the Spot Ethereum ETFs will already have $10 billion in assets upon launch, thanks to the Grayscale Ethereum Trust (ETHE), which will convert to an ETF on launch day. 

Therefore, Hougan noted that the Spot Ethereum ETFs are now left with $25 billion in inflows to reach parity with the amount of inflows the Spot Bitcoin ETFs are expected to reach by 2025 year-end. Hougan then highlighted data from the international ETP markets to show that investors may be allocating to Bitcoin and Ethereum ETPs roughly in line with their market caps. 

Using The International Markets As A Point Of Reference

According to Hougan, Bitcoin and Ethereum ETPs in Europe hold €4,601 and €1,305 in assets under management (AuM), which translates to 78% and 22% of the aggregate available funds in both markets. Similarly, Bitcoin and Ethereum ETPs in Canada have $4,942 CAD (77%) and $1,475 CAD (23%) respectively. 

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Working with Ethereum’s ETP market share in Canada, Hougan estimated that the US Spot Ethereum ETFs could also get 22% of the US market. Based on this, Hougan lowered the estimate of net inflows for the Spot Ethereum ETFs from $25 billion to $18 billion, excluding Grayscale’s assets. 

Hougan eventually lowered the estimated net inflows to $15 billion by factoring in the fact that a significant portion of the flows into the US Spot Bitcoin ETFs are related to carry trades. He removed $10 billion of carry trade-related AuM from the Bitcoin market, lowering his estimates for Bitcoin from $100 billion to $90 billion and for the Spot Ethereum ETFs from $18 billion to $15 billion. 

ETH price holding $3,300 | Source: ETHUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Bitwise CIO Expects $15 Billion To Flow Into Spot Ethereum ETFs, How Will ETH React? appeared first on Crypto Breaking News.

Terra Classic (LUNC), the phoenix attempting to rise from the ashes of the infamous TerraUSD crash, is once again capturing investor attention. Coincodex analysts predict a modest 10.7% price increase by July 25th, while renowned crypto analyst Javon Marks throws a much bolder 1,500% surge into the ring. So, is LUNC poised for a bullish breakout, or is this just another mirage in the volatile crypto desert?

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A Token Reborn: LUNC Capitalizes On Market Volatility

LUNC, once the backbone of the collapsed TerraUSD (USTC) stablecoin ecosystem, has defied expectations. While USTC lost its peg to the US dollar and spiraled into oblivion, LUNC has exhibited surprising resilience.

The past 24 hours saw an 82% price jump, showcasing continued investor interest in the controversial token. This resilience coincides with a broader market trend where investors, wary of traditional assets, are seeking refuge in digital currencies perceived as having strong recovery potential.

Analyst Divided: Measured Optimism Vs. Moon Shot

Coincodex paints a picture of cautious optimism. Their prediction of a 10.7% rise suggests LUNC may experience a slow and steady climb. This aligns with the “Fear & Greed Index” which currently sits at a moderate “Fear” level, indicating a cautious market.

We remain here $LUNC (Terra Classic)’s first target at $0.00058046, implying a more than +594% upside from here to reach it in response to a long-standing breakout.

Trend-Wise, based on the previous breakout and climb, this level can be exceeded with heights of $0.00139122 being… https://t.co/rAbwsHIkqY pic.twitter.com/XOYdulvUc8

— JAVONMARKS (@JavonTM1) June 24, 2024

However, analyst Javon Marks throws a wrench into the mix with a far more audacious prediction. Marks posits a potential 1,500% price surge, targeting a price of $0.00139122. This bullish outlook hinges on the idea that LUNC is nearing a breakout phase, fueled by a combination of its recent price gains and historical data.

A Balancing Act Of Hype And Reality

While Marks’ prediction is certainly enticing, historical trends in the cryptocurrency market are littered with failed “moon shot” predictions. The extreme volatility inherent in the crypto space makes long-term price forecasting notoriously unreliable.

Additionally, technical indicators currently lean bearish, suggesting potential short-term price dips. Investors should also consider the ongoing legal battles surrounding the Terra ecosystem, which could cast a shadow on LUNC’s future.

LUNC is now trading at $0.000081. Chart: TradingView

Terra Classic Rejects Validator Expansion Proposal

Meanwhile, the Terra Luna Classic community has rejected Proposal 12116, which sought to increase the blockchain’s validator set from 100 to 130. This proposal emerged in the wake of a $4.5 billion settlement between Terraform Labs, founder Do Kwon, and the US Securities and Exchange Commission. The aim was to enhance the network’s decentralization by incorporating validators from Terra Luna v2, potentially signaling a move towards unification within the Terra ecosystem.

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However, the proposal did not gain sufficient support in the community’s governance voting. Concerns about integrating Luna v2 validators, the potential impacts on network security and performance, and the desire to maintain a distinct identity for Terra Luna Classic were significant factors in the decision.

Featured image from Pexels, chart from TradingView

Source: NewsBTC.com

The post Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase appeared first on Crypto Breaking News.

The European Union has accused Microsoft of antitrust violations related to bundling the video conferencing app Teams within its Office suite.

These allegations mark the first such charges against Microsoft in over a decade.

The case raises questions about whether the company gained an “undue advantage” by integrating Teams into its popular productivity software.

The direct competitors of Teams such as Zoom, Slack and Salesforce will suffer the potential advantages of Microsoft Teams under the European Commission regulation rules about competition.

Brad Smith, Microsoft president, said: “Having unbundled Teams and taken initial interoperability steps, we appreciate the additional clarity provided today and will work to find solutions to address the commission’s remaining concerns.”

Brussels is also investigating other Big Tech companies.

On Monday, the European Commission accused Apple of hindering competition on its App Store, marking the first instance where EU regulators have brought charges against a Big Tech group under new digital regulations.

If proven guilty, Apple could be subject to a penalty of up to 10% of its worldwide annual revenue, potentially resulting in fines amounting to tens of billions of dollars.

The fines could escalate to 20% if the violation is repeated, according to the European Union.

Apple expressed confidence in its compliance.

The post Microsoft and Apple could be fined 10% of their annual revenue by the EU appeared first on Federica Montella.

Source: FedericaMontella.com

The post Microsoft and Apple could be fined 10% of their annual revenue by the EU appeared first on Crypto Breaking News.

Bitcoin recently faced a significant rejection at the $62,498 resistance level, underscoring the prevailing bearish dominance in the market. This failure to break through a critical threshold highlights the strength of selling pressure and raises concerns about potential downward trends. 

The rejection at this key level signals caution among traders and investors, prompting a reassessment of market strategies. As bearish momentum persists, this analysis explores the possible outcomes for Bitcoin’s price movement and the broader implications for the cryptocurrency market.

As of the time of writing, the market capitalization of Bitcoin is over $1.2 trillion, with a trading volume of over $27 billion. The cryptocurrency price is currently up by 1.2%, trading at roughly $61,582. Despite a 31.26% increase in market capitalization, there has been a 35.43% decrease in trading volume over the last day.

Technical Indicators: Signs Of Continued Bearish Pressure

BTC price on the 4-hour chart is still actively bearish and trading below the 100-day Simple Moving Average (SMA). Currently, Bitcoin is attempting a downward move after a rejection at $62,498, which is represented by a blue line on the chart.

Source: BTCUSDT on Tradingview.com

The formation of the 4-hour William Alligator signals that the price of BTC may extend its bearish trend as there is no successful cross of both the alligator lip and tooth above the alligator jaw.

On the 1-day chart, it can be observed that Bitcoin’s price is making a huge drop after being rejected for the second time at the $62,498 level, thereby signaling more bearishness even as it continues to trade below the 100-day SMA.

Additionally, the 1-day William alligator also indicates more bearishness for BTC. After a successful cross of the alligator lip and teeth below the alligator jaw, they have been maintaining a good spread from each other.

Source: BTCUSDT on Tradingview.com

It should be noted that the crypto asset’s price, from an overall point of view, is actively bearish. Given the formation of the price action and indicators on both the 4-hour and the 1-day chart, it can seen that the bears are currently dominating the market.

Potential Scenarios: What’s Next for Bitcoin?

An analysis of potential future scenarios for BTC’s price movement following the rejection reveals that if Bitcoin continues to move downward and break below the $60,152 support level, it may move lower to test the $58,523 support level and probably move on to test other lower levels if the price breaches this level.

However, if there is a rejection at the $60,152 support level, Bitcoin may start moving upward toward the $64,515 resistance level. If this level is breached, the crypto asset may experience more price growth toward the $71,909 resistance level and possibly other levels above.

BTC trading at $61,515 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Source: NewsBTC.com

The post Bitcoin Rejection At $62,498 Signals Bearish Dominance, Here Are Possible Outcomes appeared first on Crypto Breaking News.