đ Crypto markets are off to a strong start this week! Bitcoin (BTC) is up 1.3%, trading just under $63,500, while Ether (ETH) outshines with a 2.7% rise to $2,650. The CoinDesk 20 Index shows a 1.1% market-wide uptick. Notably, $64.23M in short positions were liquidated, hinting at bullish sentiment. đ
Digital asset investment products saw a second week of inflows, netting $321M, driven by the Fed's rate cut. Bitcoin products led with $284M in inflows, while ETH products saw outflows for the fifth week.
What are your thoughts on this bullish trend? Drop your comments below! #CryptoNews #Bitcoin #Ethereum
đ **Crypto Market Sees Modest Gains Amid Light Trading**
- **Latest Prices**: Bitcoin (BTC) is up 1.27%, trading at $63,453.28, while Ether (ETH) outperforms with a 2.62% rise to $2,645.83. The CoinDesk 20 Index shows a 1.03% increase, reflecting cautious optimism in the market.
- **Market Activity**: Data from CoinGlass reveals $64.23 million in short positions and $54.42 million in longs were liquidated in the past 12 hours. Trading remains light following last week's 50 basis-point interest-rate cut by the Federal Reserve.
- **Investment Trends**: Digital asset investment products saw a net inflow of $321 million for the second consecutive week, driven by Bitcoin-linked products. However, Ether products experienced outflows for the fifth week in a row.
- **Company Spotlight**: Core Scientific is gaining traction in AI hosting, with Canaccord giving it a buy rating and a $16 price target. The company has 230 MW of power available for Bitcoin mining, adding to its growth potential.
- **Chart of the Day**: Open interest in Solana call options on Deribit is 2.5 times bigger than puts, indicating bullish sentiment.
What are your thoughts on the recent market moves? Share in the comments! đ
đ Crypto markets are on the rise, folks! BTC is up 1.3% at nearly $63,500, and ETH is flexing with a 2.7% gain to $2,650. The CoinDesk 20 Index shows a 1.1% uptick. đ
đĄ Fun fact: More shorts than longs got liquidated in the last 12 hours. Ouch! $64.23M in shorts vs. $54.42M in longs. Who's feeling the squeeze? đ
đž Digital asset investment products saw $321M in inflows, thanks to the Fed's rate cut. Bitcoin products led with $284M, while ETH products saw outflows. What's up with that, ETH fans? đ€
đ§ Core Scientific is eyeing AI hosting, with a buy rating and a $16 target. AI + Crypto = Future? Discuss below! đ
#DeFi #Web3 #CryptoNews
đ AI-Related Cryptos Surge After Nvidia-Alibaba Partnership! đ
AI tokens are on the rise, recording a 5.9% surge in the past day, with a market cap of $28.9B and daily trading volume of $2.77B, according to CoinGecko.
- **NEAR Protocol (NEAR)**: Leading with a $5.3B market cap, up 9.3%, trading at $4.85.
- **Artificial Superintelligence Alliance (FET)**: Gained 5%, trading at $1.66.
- **Bittensor (TAO)**: Top gainer with an 18% rally, trading at $538.
This spike follows Nvidia and Alibaba Cloud's partnership to enhance autonomous driving tech in China.
What are your thoughts on AI tokens? Comment below! đŹ
**AI Models Get Smarter, California Tightens Regulations**
OpenAI has unveiled its latest AI model, dubbed "Strawberry," which promises to handle complex queries and deliver more thoughtful responses. This advancement is part of the new OpenAI o1 series, designed to mimic human-like problem-solving.
Meanwhile, California lawmakers are pushing forward with AI-related bills, including Assembly Bill 1836 and Senate Bill (SB)-1047. SB-1047, in particular, aims to enforce stringent safety protocols on major AI developers like OpenAI, Google, and Microsoft. Critics argue these regulations could stifle innovation, especially for smaller developers. Governor Gavin Newsom's decision on the bill is eagerly awaited.
$TON Price Prediction: Consolidation Ahead - BeinCrypto Analytics
Toncoin is currently trading at $5.61, hovering just above the critical support level of $5.49. While this suggests that TON is holding steady, the mixed signals from the market point towards a bearish-neutral outlook. Investors remain cautious, making a significant price surge less likely in the immediate term.
Given the current sentiment, Toncoin is expected to continue consolidating between $5.49 and $5.96. This sideways movement will likely delay any breakout above the upper limit, potentially keeping the token in its current range for a while. However, if bullish momentum overtakes bearish sentiment, Toncoin could breach the $5.96 barrier. This move would trigger profits for holders of the $4 billion worth of TON supply bought between $5.41 and $5.94, thus invalidating the bearish-neutral outlook and setting the stage for further gains.