IS it $EOS DOWNFALL? | Anonymous079 on Binance Square

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IS it $EOS DOWNFALL?

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WHY CRYPTO MARKET IS BEARISH📉 TODAY? The cryptocurrency market has experienced a bearish trend today, with notable declines across major digital assets. Several factors have contributed to this downturn: 1. Federal Reserve's Monetary Policy: The U.S. Federal Reserve has indicated a more hawkish stance for 2025, projecting fewer interest rate cuts than previously anticipated. This outlook has dampened investor sentiment, as higher interest rates can reduce the appeal of riskier assets like cryptocurrencies. 2. Profit-Taking and Market Corrections: Following significant rallies, investors often engage in profit-taking, leading to market corrections. This behavior aligns with mean reversion principles and can contribute to short-term price declines. 3. Global Liquidity Concerns: Tightening global liquidity conditions, including shrinking central bank balance sheets, have created an environment less favorable for risk assets. These liquidity challenges have been building over recent months, impacting the crypto market. #BEARISH📉

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WHAT HAPPENED IN CRYPTO MARKET IN LAST 24 HOURS? Market Movements: Bitcoin (BTC): The leading cryptocurrency is currently trading at approximately $94,718, reflecting a decline of about 2.18% over the past day. Earlier, Bitcoin had reached an intraday high of $96,828 before retreating. Ethereum (ETH): Ethereum's price stands at around $3,357, marking a decrease of approximately 1.68% in the same period. The cryptocurrency saw an intraday high of $3,415. Altcoins: Other major cryptocurrencies have also faced declines. BNB is trading at $704 (down 0.22%), XRP at $2.17 (down 1.81%), and Solana at $187 (down 1.99%). Regulatory and Legal Developments: Do Kwon's Extradition: Do Kwon, co-founder of Terraform Labs, is set to be extradited to the United States to face federal fraud charges related to the collapse of TerraUSD and Luna, which led to a $40 billion loss for investors. The Montenegro Ministry of Justice announced this decision, highlighting the legal challenges faced by key figures in the crypto industry. Wall Street's Involvement: Bitcoin's significant rise in 2024 has prompted major Wall Street banks, including Barclays, Citigroup, Goldman Sachs, and JPMorgan, to reconsider their stance on cryptocurrency-related capital raising. These institutions have begun underwriting substantial deals related to Bitcoin companies, indicating a shift in traditional finance's approach to the crypto market. Geopolitical Influences: Russian Endorsement: Russian President Vladimir Putin's favorable comments about Bitcoin earlier this month have influenced the crypto market. He questioned the necessity of accumulating dollar reserves compared to Bitcoin, suggesting that Bitcoin cannot be prohibited. Such endorsements may drive Bitcoin prices higher by increasing demand. #Crypto2025Trends

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UNDERSTANDING THE BEARISH ENGULFING CANDLE📉

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$BNB (Build and Build), the native cryptocurrency of the BNB Chain ecosystem, is trading at approximately $699.21, reflecting a 0.92% increase over the past 24 hours. Over the past week, BNB has experienced a 2.73% increase, with a notable 8.05% rise over the past month. Year-to-date, BNB has appreciated by approximately 116.03%. Technical analysis indicates a strong buy signal for BNB. Moving averages across multiple time frames (5, 10, 20, 50, 100, and 200 periods) suggest a bullish trend, with 11 buy signals and only 1 sell signal. Key technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) also support this positive outlook. However, it's important to note that BNB's price movements are closely correlated with major cryptocurrencies like Bitcoin, with an 81% correlation, and Cardano, with an 86% correlation. This suggests that fluctuations in the broader cryptocurrency market can significantly impact BNB's performance. BNB has demonstrated strong performance in 2024, with technical indicators suggesting continued bullish momentum. Nonetheless, investors should remain aware of the broader market dynamics and potential legal challenges facing Binance, as these factors could influence BNB's future trajectory. #BitwiseBitcoinETF

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As of December 28, 2024, Bitcoin ($BTC ) is trading at approximately $94,504, reflecting a 2.37% decrease from the previous close. Earlier this month, Bitcoin surpassed the $100,000 milestone, driven by factors such as the approval of Bitcoin Spot ETFs in January 2024 and the re-election of President Donald Trump, who has expressed support for cryptocurrencies. However, recent technical analyses indicate a potential slowdown in Bitcoin's upward momentum. Investtech reports that Bitcoin has broken through the floor of a rising trend channel in both the short and medium-long term, suggesting either a deceleration in its growth rate or the beginning of a more negative trend. Additionally, the emergence of advanced quantum computing technologies poses a potential future threat to Bitcoin's security. Google's new quantum chip, Willow, has raised concerns about the ability to crack Bitcoin's encryption, though current capabilities are not yet sufficient for such a feat. #BitwiseBitcoinETF

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