Various market indicators show that bitcoin (BTC) may have entered a temporary downtrend with its drop to $56,000 (USD). One of them is the realized price of bitcoin short-term holders (STH), which is around $60,000. This value indicates the average purchase cost of coins acquired and held less than 155 days ago.
The trader known as SantinoCripto stated that this on-chain metric indicates that bitcoin is entering a “danger zone.” The reason is that it usually works as support for the price in periods of rise, as shown in the chart. “If we do not bounce in the next few days, it is very likely that the bull market is over,” he said.
Although, it should be noted that a price drop below this metric does not mean that bitcoin will not rise again. Therefore, it may reflect a buying opportunity.
Bitcoin and Ethereum fail to find catalysts and pierce key level
In any case, the truth is that there is a predominant feeling of caution in the market. This is due to various factors such as the tougher stance of the Federal Reserve, among others.
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Finally, the Winklevoss brothers, founders and leaders of the Gemini exchange, have announced donations of one million dollars to Donald Trump's campaign.
The cryptocurrency market experiences a drop this Friday. Bitcoin (BTC) intensifies its losses and falls to US$64,600, while Ethereum (ETH) loses 2% in the last 24 hours, putting the US$3,500 barrier at risk. The situation in the 'altcoin' market is not improving either. Among the major tokens, only toncoin (TON) and tron (TRX) show moderate rises in the last day. Large-cap cryptocurrencies such as solana (SOL), XRP, dogecoin (DOGE), cardano (ADA), shiba inu (SHIB) and avalanche (AVAX) record drops of up to 3%.
#worldocin Exclusivity is something that is not known in the universe of cryptocurrencies and each existing project has competitors behind it. On this occasion, we review some of the most popular alternatives to Worldcoin in the particular area of digital identity. We warn in advance that it is not a good idea to deliver data to any project.
The latter is also thought by regulators in different parts of the world, who maintain strong pressure against Worldcoin. In fact, this regulatory onslaught causes bad times in the price of the token of the aforementioned protocol. It's important to remember that establishing a digital identity for millions of people around the world requires the obvious task of collecting data. The case of Worldcoin is particularly curious, given that it takes people's data (in exchange for some coins) through eye scanning. Although the company reiterates that it is a decentralized and secure method that prevents it from having access to that data, regulators are not very convinced. Considering that state of affairs, it is worth reviewing similar projects to determine how feasible the issue of digital identity is.
«People no longer expect anything from cryptocurrencies; That's when I invest"
With the slight decline in bitcoin (BTC), alternative cryptocurrencies also known as altcoins have fallen. Thus, those who bought at higher prices, as is the case of the renowned trader Michaël van de Poppe, are currently at losses. However, this does not remove all bullish expectations for the moment. “Sentiment has changed towards ultra negative, where people no longer expect anything from altcoins,” van de Poppe commented on the matter. For the specialist, this state is understandable, although far from being afraid, he sees this scenario as an opportunity. “That's when I invest,” he added about these types of moments.
#WLD Pay attention for the great rise, closer to the great historical rise, it is expected that by the beginning of 2025 it will reach between 120$ and 160$