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#2024WithBinance Bitcoin has been declining since the beginning of the week after a brief consolidation, which was replaced by renewed selling.
The rate of the main digital currency failed to consolidate above the $97,000 level last week and came under pressure again. On Tuesday, BTC is developing a move under the $95,000 mark, having reached a weekly low near $94,000.
the flagship cryptocurrency was trading at $94,240, losing 2.28% since the beginning of the day.
Ether, the second-largest digital coin, managed to mark mid-year highs around $3,756 on Monday, where it attracted selling and has been on the defensive ever since. At the time of writing, Ethereum was trading in the $3,551 area, down 2.04%.
The rate of the main digital currency failed to consolidate above the $97,000 level last week and came under pressure again. On Tuesday, BTC is developing a move under the $95,000 mark, having reached a weekly low near $94,000.
the flagship cryptocurrency was trading at $94,240, losing 2.28% since the beginning of the day.
Ether, the second-largest digital coin, managed to mark mid-year highs around $3,756 on Monday, where it attracted selling and has been on the defensive ever since. At the time of writing, Ethereum was trading in the $3,551 area, down 2.04%.
#ETHOnTheRise
Has shown significant movement recently, with its price surging by around 33% in the past month. Currently, the price is hovering near $3,676, with analysts suggesting potential bullish momentum through December. Some projections indicate ETH could test the $4,000 mark, contingent on continued accumulation by large holders and positive market dynamics. Technical indicators like the MVRV ratio and funding rates also show a strong setup for potential upward movement.$ETH
Has shown significant movement recently, with its price surging by around 33% in the past month. Currently, the price is hovering near $3,676, with analysts suggesting potential bullish momentum through December. Some projections indicate ETH could test the $4,000 mark, contingent on continued accumulation by large holders and positive market dynamics. Technical indicators like the MVRV ratio and funding rates also show a strong setup for potential upward movement.$ETH
#BSCOnTheRise Gifto's development team was accused of secretly issuing 1.2 million GFTs, doubling their number the day after Binance announced the token's delisting.
Such a controversial move by the Gifto team caused the token to drop by 35%.
GFT token rate
One of the first to report on the situation was blockchain stalker ZachXBT. He wrote, the Gifto team quietly issued 1.2 million new GFT tokens on BNB Chain, increasing the total number of tokens to over 2.2 billion. The new tokens were subsequently listed on several exchanges including KuCoin, OKX, Gate.io, Binance, MEXC, HTX and Bitget.
It was announced that Binance will delist GFT from its lists on November 26, 2024. A few hours ago, the Gifto team issued another 1.2 billion GFT on BSC, more than doubling the total supply. GFT was then credited on Kucoin, MEXC HTX, Bitget, Binance, OKX and Gate,” ZachXBT wrote.
The developers of Gifto have not yet released any official statement on the situation.
Gifto, a blockchain protocol focused on digital gifts and content monetization, was founded in 2017 by Andy Tian. In January 2023, decentralized crosschain platform IDO Poolz invested $2.5 million in Gifto tokens to support its updated roadmap. A month later, reports emerged that Tian had passed away suddenly at the age of 47. The project's official account remained silent on the matter, so questions about the project's leadership and future remain unresolved.
Such a controversial move by the Gifto team caused the token to drop by 35%.
GFT token rate
One of the first to report on the situation was blockchain stalker ZachXBT. He wrote, the Gifto team quietly issued 1.2 million new GFT tokens on BNB Chain, increasing the total number of tokens to over 2.2 billion. The new tokens were subsequently listed on several exchanges including KuCoin, OKX, Gate.io, Binance, MEXC, HTX and Bitget.
It was announced that Binance will delist GFT from its lists on November 26, 2024. A few hours ago, the Gifto team issued another 1.2 billion GFT on BSC, more than doubling the total supply. GFT was then credited on Kucoin, MEXC HTX, Bitget, Binance, OKX and Gate,” ZachXBT wrote.
The developers of Gifto have not yet released any official statement on the situation.
Gifto, a blockchain protocol focused on digital gifts and content monetization, was founded in 2017 by Andy Tian. In January 2023, decentralized crosschain platform IDO Poolz invested $2.5 million in Gifto tokens to support its updated roadmap. A month later, reports emerged that Tian had passed away suddenly at the age of 47. The project's official account remained silent on the matter, so questions about the project's leadership and future remain unresolved.
#AIAndGameFiBoom NFT game developer
$AXL Axie Infinity will cut 21% of its staff
Sky Mavis has a workforce of around 250 people and the layoffs will affect 50 employees. Sky Mavis CEO and co-founder Nguyen Thanh Trung attributed the staff cuts to the fact that the company plans to focus on opening the Ronin Bridge in the first quarter of 2025.
In March 2022, hackers withdrew more than $600 million from Ronin Network, an Etherium sidechain designed for NFT-based games. After that, Axies, the ecosystem's collectible tokens that were once worth at least $700, collapsed to nearly zero. They are now worth only a few cents
$AXL Axie Infinity will cut 21% of its staff
Sky Mavis has a workforce of around 250 people and the layoffs will affect 50 employees. Sky Mavis CEO and co-founder Nguyen Thanh Trung attributed the staff cuts to the fact that the company plans to focus on opening the Ronin Bridge in the first quarter of 2025.
In March 2022, hackers withdrew more than $600 million from Ronin Network, an Etherium sidechain designed for NFT-based games. After that, Axies, the ecosystem's collectible tokens that were once worth at least $700, collapsed to nearly zero. They are now worth only a few cents
$BTC Long-term bitcoin holders sold more than 728,000 BTC in a month
Over the past 30 days, long-term bitcoin holders have sold more than 728,000 coins worth about $67 billion at the current price of the flagship asset, according to data from analytics firm CryptoQuant.
This is the largest sell-off since April 2024,” the company wrote in a social media post.
In addition, CryptoQuant analysts noted a turning point in the sentiment of large investors, who bought up about 250,000 bitcoins in October.
Experts attribute the large-scale sell-off to Donald Trump's victory in the US presidential election. During his election campaign, the Republican candidate actively supported the cryptocurrency industry, promising to make bitcoin a reserve currency and strengthen the mining industry in the country. After the announcement of the voting results, the exchange rate of the leading crypto asset rose sharply and set a new all-time high, just short of the all-important $100,000 level.
Bitcoin has corrected significantly this week, dropping to $93,300 at the time of writing. The asset's short-term decline has led to short-term holders getting rid of 54,600 BTC in the last 24 hours alone.
Bitcoin selloff by short-term holders
According to TradingView, bitcoin's dominance, as measured by its share of the total cryptocurrency market capitalization, is currently around 51%, down from a recent high above 60%.
Over the past 30 days, long-term bitcoin holders have sold more than 728,000 coins worth about $67 billion at the current price of the flagship asset, according to data from analytics firm CryptoQuant.
This is the largest sell-off since April 2024,” the company wrote in a social media post.
In addition, CryptoQuant analysts noted a turning point in the sentiment of large investors, who bought up about 250,000 bitcoins in October.
Experts attribute the large-scale sell-off to Donald Trump's victory in the US presidential election. During his election campaign, the Republican candidate actively supported the cryptocurrency industry, promising to make bitcoin a reserve currency and strengthen the mining industry in the country. After the announcement of the voting results, the exchange rate of the leading crypto asset rose sharply and set a new all-time high, just short of the all-important $100,000 level.
Bitcoin has corrected significantly this week, dropping to $93,300 at the time of writing. The asset's short-term decline has led to short-term holders getting rid of 54,600 BTC in the last 24 hours alone.
Bitcoin selloff by short-term holders
According to TradingView, bitcoin's dominance, as measured by its share of the total cryptocurrency market capitalization, is currently around 51%, down from a recent high above 60%.
#ThanksgivingBTCMoves Long-term bitcoin holders sold more than 728,000 BTC in a month
Over the past 30 days, long-term bitcoin holders have sold more than 728,000 coins worth about $67 billion at the current price of the flagship asset, according to data from analytics firm CryptoQuant.
This is the largest sell-off since April 2024,” the company wrote in a social media post.
In addition, CryptoQuant analysts noted a turning point in the sentiment of large investors, who bought up about 250,000 bitcoins in October.
Experts attribute the large-scale sell-off to Donald Trump's victory in the US presidential election. During his election campaign, the Republican candidate actively supported the cryptocurrency industry, promising to make bitcoin a reserve currency and strengthen the mining industry in the country. After the announcement of the voting results, the exchange rate of the leading crypto asset rose sharply and set a new all-time high, just short of the all-important $100,000 level.
Bitcoin has corrected significantly this week, dropping to $93,300 at the time of writing. The asset's short-term decline has led to short-term holders getting rid of 54,600 BTC in the last 24 hours alone.
Bitcoin selloff by short-term holders
According to TradingView, bitcoin's dominance, as measured by its share of the total cryptocurrency market capitalization, is currently around 51%, down from a recent high above 60%.
Over the past 30 days, long-term bitcoin holders have sold more than 728,000 coins worth about $67 billion at the current price of the flagship asset, according to data from analytics firm CryptoQuant.
This is the largest sell-off since April 2024,” the company wrote in a social media post.
In addition, CryptoQuant analysts noted a turning point in the sentiment of large investors, who bought up about 250,000 bitcoins in October.
Experts attribute the large-scale sell-off to Donald Trump's victory in the US presidential election. During his election campaign, the Republican candidate actively supported the cryptocurrency industry, promising to make bitcoin a reserve currency and strengthen the mining industry in the country. After the announcement of the voting results, the exchange rate of the leading crypto asset rose sharply and set a new all-time high, just short of the all-important $100,000 level.
Bitcoin has corrected significantly this week, dropping to $93,300 at the time of writing. The asset's short-term decline has led to short-term holders getting rid of 54,600 BTC in the last 24 hours alone.
Bitcoin selloff by short-term holders
According to TradingView, bitcoin's dominance, as measured by its share of the total cryptocurrency market capitalization, is currently around 51%, down from a recent high above 60%.
$ETH Jeffrey Wilcke, the Co-founder of Ethereum has deposited 20,000 $ETH ($75.2M) to #Kraken 40 minutes ago.
He currently still holds 106,006 $ETH ($384M).
We can expect dump in eth price so properly maintain your leveraged positions & for spot holders no issue just hold your bags
He currently still holds 106,006 $ETH ($384M).
We can expect dump in eth price so properly maintain your leveraged positions & for spot holders no issue just hold your bags
#AltcoinMomentum Cake/USD is currently trading at $3.220, a key price level that’s attracting attention from both traders and investors. As a token tied to the popular decentralized exchange (DEX) PancakeSwap, CAKE has shown significant volatility, often reflecting broader trends in the DeFi and cryptocurrency markets.
Binance lists Cow Protocol (COW) and Cetus Protocol (CETUS) tokens with zero fees, boosting DeFi access and adoption.
COW and CETUS begin trading with USDT on November 6, with a "seed" tag warning of potential volatility and risk.
Traders are advised to research COW and CETUS thoroughly, as both tokens show price surges but remain high-risk.
Traders will be able to trade COW and CETUS against USDT starting Wednesday, November 6, at 12:00 UTC. Before then, however, COW and CETUS holders can already deposit the token in preparation for trading, with withdrawals available starting Thursday.
Binance’s new listings, COW and CETUS, will be at zero fees, meaning users can trade the token on the platform without incurring any trading fees. This is a promotional strategy among exchanges, often used to attract more users.
Nevertheless, the exchange articulated that it would apply a seed tag. This is a special identifier that helps distinguish COW and CETUS from other tokens. It is a precaution given the relative newness of the new Binance listings in the market, making them subject to higher-than-normal risk and, therefore, volatility.
COW is the native token for Cow Protocol, a decentralized finance (DeFi) solution using batch auctions, P2P trades, and solvers to find the best possible exchange rates for users. Meanwhile, CETUS powers the Cetus Protocol, a MOVE-based liquidity protocol enabling swap, earn, and build on Layer-1 blockchain, Sui.
GeckoTerminal shows COW and CETUS tokens are already soaring. In a typical “buy the rumor” situation, they are up between 55% and 80%.
Traders and investors can expect a surge in trading activity and interest following the listing of Cow Protocol and Cetus Protocol tokens on Binance. Nevertheless, as they gear up to start trading COW and CETUS, it is important to exercise caution. Market participants must conduct thorough research and practice proper risk management strategies.
COW and CETUS begin trading with USDT on November 6, with a "seed" tag warning of potential volatility and risk.
Traders are advised to research COW and CETUS thoroughly, as both tokens show price surges but remain high-risk.
Traders will be able to trade COW and CETUS against USDT starting Wednesday, November 6, at 12:00 UTC. Before then, however, COW and CETUS holders can already deposit the token in preparation for trading, with withdrawals available starting Thursday.
Binance’s new listings, COW and CETUS, will be at zero fees, meaning users can trade the token on the platform without incurring any trading fees. This is a promotional strategy among exchanges, often used to attract more users.
Nevertheless, the exchange articulated that it would apply a seed tag. This is a special identifier that helps distinguish COW and CETUS from other tokens. It is a precaution given the relative newness of the new Binance listings in the market, making them subject to higher-than-normal risk and, therefore, volatility.
COW is the native token for Cow Protocol, a decentralized finance (DeFi) solution using batch auctions, P2P trades, and solvers to find the best possible exchange rates for users. Meanwhile, CETUS powers the Cetus Protocol, a MOVE-based liquidity protocol enabling swap, earn, and build on Layer-1 blockchain, Sui.
GeckoTerminal shows COW and CETUS tokens are already soaring. In a typical “buy the rumor” situation, they are up between 55% and 80%.
Traders and investors can expect a surge in trading activity and interest following the listing of Cow Protocol and Cetus Protocol tokens on Binance. Nevertheless, as they gear up to start trading COW and CETUS, it is important to exercise caution. Market participants must conduct thorough research and practice proper risk management strategies.
Donald Trump wins the 2024 U.S. presidential race, defeating Kamala Harris to become the 47th president.
Trump's win spurs cryptocurrency surge; $BTC hits an all-time high at $75,361, then slightly corrects to $73,747.
The global crypto market cap climbs to $2.57 trillion, up 8% over 24 hours, boosted by pro-crypto Trump’s victory.
Trump’s projected win had resulted in a surge in cryptocurrency market activity over the past 24 hours. As of this writing, the global cryptocurrency market capitalization is $2.57 trillion, having climbed by 8% during the period in review. This uptick in trading activity pushed leading coin $BTC to a new all-time high of $75,361 during Wednesday’s early trading hours. However, it has since witnessed a minor correction. At press time, $BTC trades at $73,747.
Trump's win spurs cryptocurrency surge; $BTC hits an all-time high at $75,361, then slightly corrects to $73,747.
The global crypto market cap climbs to $2.57 trillion, up 8% over 24 hours, boosted by pro-crypto Trump’s victory.
Trump’s projected win had resulted in a surge in cryptocurrency market activity over the past 24 hours. As of this writing, the global cryptocurrency market capitalization is $2.57 trillion, having climbed by 8% during the period in review. This uptick in trading activity pushed leading coin $BTC to a new all-time high of $75,361 during Wednesday’s early trading hours. However, it has since witnessed a minor correction. At press time, $BTC trades at $73,747.
$AAVE whales have triggered major sell-offs, causing a rise in exchange flow balance and downward price pressure.
$AAVE price divergence with daily active addresses suggests falling demand, supporting the bearish trend.
$AAVE price may drop below $128.45 support, potentially reaching $116.10 if sell-offs continue.
In a Tuesday post on X, on-chain sleuth Lookonchain noted that $AAVE whales are actively selling off their holdings, with significant withdrawals noted in recent transactions.
One whale, identified as address 0x7634, withdrew 25,790 $AAVE (around $3.39 million) from the $AAVE protocol and transferred it to the MEXC exchange. Just three hours earlier, another whale, address 0x790c, had removed 7,822 $AAVE (approximately $1.04 million) from $AAVE and sent it to Binance. Additionally, crypto trading firm Cumberland deposited 10,000 $AAVE to OKX.
The action of these $AAVE whales has resulted in a sharp rise in its exchange flow balance. Santiment’s data shows that at press time, this balance is 53,000 $AAVE representing its single-day highest flow since September 10.
$AAVE price divergence with daily active addresses suggests falling demand, supporting the bearish trend.
$AAVE price may drop below $128.45 support, potentially reaching $116.10 if sell-offs continue.
In a Tuesday post on X, on-chain sleuth Lookonchain noted that $AAVE whales are actively selling off their holdings, with significant withdrawals noted in recent transactions.
One whale, identified as address 0x7634, withdrew 25,790 $AAVE (around $3.39 million) from the $AAVE protocol and transferred it to the MEXC exchange. Just three hours earlier, another whale, address 0x790c, had removed 7,822 $AAVE (approximately $1.04 million) from $AAVE and sent it to Binance. Additionally, crypto trading firm Cumberland deposited 10,000 $AAVE to OKX.
The action of these $AAVE whales has resulted in a sharp rise in its exchange flow balance. Santiment’s data shows that at press time, this balance is 53,000 $AAVE representing its single-day highest flow since September 10.
Thailand's famous pygmy hippo predicted Trump's victory in the US election - Bild
The four-month-old hippo named Mu-Deng, who is followed by millions of people around the world, was offered two bowls of food with the inscriptions “Donald Trump” and “Kamala Harris” in Thai.
In the end, the animal chose the bowl with the Republican's name on it.
$BTC jumped $70,000 in the immediate aftermath.
The four-month-old hippo named Mu-Deng, who is followed by millions of people around the world, was offered two bowls of food with the inscriptions “Donald Trump” and “Kamala Harris” in Thai.
In the end, the animal chose the bowl with the Republican's name on it.
$BTC jumped $70,000 in the immediate aftermath.
$RUNE recently broke out above a falling wedge but failed to hold, causing a 9% price drop and a bull trap.
Negative funding rates signal bearish sentiment, with short traders paying long traders, predicting a further decline.
Fibonacci Retracement analysis suggests possible price drops to $2.53 or $1.32 if demand doesn’t improve.
$RUNE recently broke out of a falling wedge pattern after trading within it since its year-to-date high of $10.60 on March 13.
However, the breakout turned into a bull trap, as $RUNE couldn’t sustain upward momentum and has since slipped back into the wedge. This analysis explores the potential short-term implications for $RUNE holders following this reversal.
An assessment of the $RUNE /USDT chart has revealed that the altcoin broke above the upper trend line of its falling wedge on October 28. This pattern is formed when the price of an asset trends between two downward-sloping trend lines. The upper trend line acts as a resistance level, while the lower trend line serves as support.
When a coin breaks out of the upper trendline of the falling wedge, it is considered a bullish signal. This breakout suggests that buyers are overpowering sellers and that the price may be poised to trend upwards.
However, $RUNE reversed this trend on October 30 and has since fallen back within the wedge, creating a bull trap. The quick fall back into the wedge invalidates the breakout as the coin’s price has resumed its previous downtrend. Trading at $4.50 at press time, $RUNE ’s price has fallen by 21% in the past four days.
Negative funding rates signal bearish sentiment, with short traders paying long traders, predicting a further decline.
Fibonacci Retracement analysis suggests possible price drops to $2.53 or $1.32 if demand doesn’t improve.
$RUNE recently broke out of a falling wedge pattern after trading within it since its year-to-date high of $10.60 on March 13.
However, the breakout turned into a bull trap, as $RUNE couldn’t sustain upward momentum and has since slipped back into the wedge. This analysis explores the potential short-term implications for $RUNE holders following this reversal.
An assessment of the $RUNE /USDT chart has revealed that the altcoin broke above the upper trend line of its falling wedge on October 28. This pattern is formed when the price of an asset trends between two downward-sloping trend lines. The upper trend line acts as a resistance level, while the lower trend line serves as support.
When a coin breaks out of the upper trendline of the falling wedge, it is considered a bullish signal. This breakout suggests that buyers are overpowering sellers and that the price may be poised to trend upwards.
However, $RUNE reversed this trend on October 30 and has since fallen back within the wedge, creating a bull trap. The quick fall back into the wedge invalidates the breakout as the coin’s price has resumed its previous downtrend. Trading at $4.50 at press time, $RUNE ’s price has fallen by 21% in the past four days.
$POL token this is a very good project as soon as the price reaches 0.065-0.05$ I will definitely buy it for a long time, can make a profit of x3-5
$TIA token nears the year-to-date low at $3.72 amid mounting selling pressure and bearish indicators.
Technical indicators show $TIA facing resistance, with DMI signaling stronger seller control over buyers.
Rebound is possible if new demand emerges, aiming for key resistance levels at $5.06 and $5.33.
$TIA the native token of the modular blockchain network Celestia, has extended its downtrend, losing over 15% of its value in the past week. Currently, the altcoin is trading at $4.23, hovering near its year-to-date low of $3.72.
The sustained value drop and technical indicators suggest that Celestia’s price decline may continue in the short term. This analysis highlights the price targets the token holders need to look out for and why.
BeInCrypto’s assessment of the $TIA /USDT one-day chart shows that the coin’s double-digit decline over the past seven days has pushed its price below its Ichimoku Cloud.
This indicator tracks an asset’s market trends, momentum, and key support/resistance zones. When the price dips below it, it signals a bearish phase, indicating stronger downward momentum. In this case, the Cloud serves as a resistance zone, making it harder for the price to break back above without substantial buying pressure.
Technical indicators show $TIA facing resistance, with DMI signaling stronger seller control over buyers.
Rebound is possible if new demand emerges, aiming for key resistance levels at $5.06 and $5.33.
$TIA the native token of the modular blockchain network Celestia, has extended its downtrend, losing over 15% of its value in the past week. Currently, the altcoin is trading at $4.23, hovering near its year-to-date low of $3.72.
The sustained value drop and technical indicators suggest that Celestia’s price decline may continue in the short term. This analysis highlights the price targets the token holders need to look out for and why.
BeInCrypto’s assessment of the $TIA /USDT one-day chart shows that the coin’s double-digit decline over the past seven days has pushed its price below its Ichimoku Cloud.
This indicator tracks an asset’s market trends, momentum, and key support/resistance zones. When the price dips below it, it signals a bearish phase, indicating stronger downward momentum. In this case, the Cloud serves as a resistance zone, making it harder for the price to break back above without substantial buying pressure.
$HMSTR Hamster Kombat has lost nearly 260 million players since listing
Telegram-clicker Hamster Kombat has faced a significant churn of active players after an unsuccessful, according to users, airdrop.
According to the app's statistics, the monthly number of “tapal players” has dropped to 40.9 million, down from 300 million at the end of September. The price of the $HMSTR token, which was at $0.011 on the listing day of Sept. 26, has collapsed to $0.002431 at the time of writing, according to CoinGecko.
In early July, Telegram founder Pavel Durov called the Hamster Kombat game an “internet phenomenon” and “the fastest growing digital service in the world.”
Nevertheless, the repeated postponement of the start date of trading on major bitcoin exchanges, as well as the exclusion of most players from giveaway lists, caused outrage in the community.
Telegram-clicker Hamster Kombat has faced a significant churn of active players after an unsuccessful, according to users, airdrop.
According to the app's statistics, the monthly number of “tapal players” has dropped to 40.9 million, down from 300 million at the end of September. The price of the $HMSTR token, which was at $0.011 on the listing day of Sept. 26, has collapsed to $0.002431 at the time of writing, according to CoinGecko.
In early July, Telegram founder Pavel Durov called the Hamster Kombat game an “internet phenomenon” and “the fastest growing digital service in the world.”
Nevertheless, the repeated postponement of the start date of trading on major bitcoin exchanges, as well as the exclusion of most players from giveaway lists, caused outrage in the community.
On November 4, investors withdrew $541 million from the $BTC -ETF. A larger outflow of $561 million was recorded only once - on May 2, according to SoSoValue.
Negative dynamics continued for the second day in a row.
The reversal occurred against the backdrop of a shrinking advantage of Republican candidate Donald Trump over Democratic rival Kamala Harris. The probability of victory of the former is estimated at 61% against 66% a week ago. The movement was accompanied by the rollback of bitcoin and its main competitors.
Negative dynamics continued for the second day in a row.
The reversal occurred against the backdrop of a shrinking advantage of Republican candidate Donald Trump over Democratic rival Kamala Harris. The probability of victory of the former is estimated at 61% against 66% a week ago. The movement was accompanied by the rollback of bitcoin and its main competitors.
$EIGEN $BTC Top cryptocurrencies to watch this week
$BTC start to the week coincided with a bullish momentum that began on Oct. 26. By Monday, the asset had recorded three consecutive intraday gains, knocking at the $70,000 region.
The impressive uptrend spilled into Oct. 29, as $BTC first overcame the $71,000 resistance and pushed further to breach the elusive $73,000 level, reaching a seven-month peak. This allowed the leading cryptocurrency to retest its March ATH.
However, this surge preceded a massive correction. Consequently, $BTC price action went downhill in the four days that followed, with the 20-day MA at $68,564 now acting as an immediate defense against further downside risk.
If the 20-day MA support gives way, $BTC would need to hold above the lower Bollinger Band at $65,214 amid the upcoming US presidential election this week. However, a recovery above $71,913 could grant the bulls renewed strength to again reach the ATH.
$EIGEN slides 17%
Despite the broader market seeing mild gains last week, EigenLayer Eigenlayer
$EIGEN -1.04%
Eigenlayer, the native token of the $ETH restaking protocol of the same name, closed the week with a massive 17% drop after an initial rise.
$EIGEN has been struggling to reclaim its peak above $4 since the Oct. 1 debut. The asset had rallied to a high of $4.90 on Binance before correcting. It has since continued to consolidate, with last week introducing more bearish pressure.
As Bitcoin retraced mid-week, $EIGEN faced massive declines over three days, forming a downward channel. To overcome this trend, EigenLayer must close above the 23.6% Fibonacci retracement level at $2.642 this week.
$BTC start to the week coincided with a bullish momentum that began on Oct. 26. By Monday, the asset had recorded three consecutive intraday gains, knocking at the $70,000 region.
The impressive uptrend spilled into Oct. 29, as $BTC first overcame the $71,000 resistance and pushed further to breach the elusive $73,000 level, reaching a seven-month peak. This allowed the leading cryptocurrency to retest its March ATH.
However, this surge preceded a massive correction. Consequently, $BTC price action went downhill in the four days that followed, with the 20-day MA at $68,564 now acting as an immediate defense against further downside risk.
If the 20-day MA support gives way, $BTC would need to hold above the lower Bollinger Band at $65,214 amid the upcoming US presidential election this week. However, a recovery above $71,913 could grant the bulls renewed strength to again reach the ATH.
$EIGEN slides 17%
Despite the broader market seeing mild gains last week, EigenLayer Eigenlayer
$EIGEN -1.04%
Eigenlayer, the native token of the $ETH restaking protocol of the same name, closed the week with a massive 17% drop after an initial rise.
$EIGEN has been struggling to reclaim its peak above $4 since the Oct. 1 debut. The asset had rallied to a high of $4.90 on Binance before correcting. It has since continued to consolidate, with last week introducing more bearish pressure.
As Bitcoin retraced mid-week, $EIGEN faced massive declines over three days, forming a downward channel. To overcome this trend, EigenLayer must close above the 23.6% Fibonacci retracement level at $2.642 this week.
At press time, $SOL price stands at $164, marking a 22% surge over the past 30 days. Pseudonymous trader Crypto General notes that $SOL outperformance of Bitcoin (BTC) hints at further gains for the altcoin this month.
« $SOL is showing great strength from the past few weeks, defying the $BTC dumps but pumping along with $BTC pumping. No doubt it is one of my favourite coin for this season and I am targeting a minimum of $290 in the coming weeks,» Crypto General posted on X (formerly Twitter).
Additionally, the Sharpe ratio has surged into positive territory after remaining in the red from July to September. The Sharpe ratio measures returns by adjusting for risk, making it a popular tool for comparing asset performance.
A negative Sharpe ratio indicates that the potential return may not justify the risk. However, now that it’s positive, $Sol price shows potential for further gains in November, supporting a bullish outlook.
« $SOL is showing great strength from the past few weeks, defying the $BTC dumps but pumping along with $BTC pumping. No doubt it is one of my favourite coin for this season and I am targeting a minimum of $290 in the coming weeks,» Crypto General posted on X (formerly Twitter).
Additionally, the Sharpe ratio has surged into positive territory after remaining in the red from July to September. The Sharpe ratio measures returns by adjusting for risk, making it a popular tool for comparing asset performance.
A negative Sharpe ratio indicates that the potential return may not justify the risk. However, now that it’s positive, $Sol price shows potential for further gains in November, supporting a bullish outlook.