Indicator Suggesting Ethereum Winding Up for Move to the Upside, According to Analyst Jason Pizzino

A closely followed crypto analyst says that the top altcoin Ethereum (ETH) may be gearing up for a swing to the upside.

In a new video update, crypto strategist Jason Pizzino tells his 329,000 YouTube subscribers that one indicator suggests the leading smart contract platform is gearing up for rallies.

According to Pizzino, ETH’s average true range (ATR) – an indicator that measures volatility by showing an asset’s trading range over a specified period – is hinting at an approaching breakout.

“Ethereum [is] looking pretty good – putting in lower highs and higher lows at the moment. We have covered the average true range as another signal that the market is winding up for another move to the upside.

So we’re watching the ranges of the bars contract and they typically go dead for several weeks, maybe even months, but as we get towards the end of the bull market, these periods get shorter and shorter.”

Looking at the trader’s chart, he seems to predict that Ethereum’s ATR will fall as ETH trades within a triangle structure. A triangle is typically seen as a continuation pattern where an asset witnesses price compression before a big move in the direction of the prevailing trend.

Pizzino goes on to say that traders should be on the lookout for Ethereum’s ATR as he says ETH may abruptly fly and leave them sidelined.

“And that is where things get very wild – if you’re not in, that can destroy your portfolio because you’re trying to get in and it just takes off without you…

At the moment for ETH, everything still looks on track and it’s playing ball with the other strong altcoins.”
Ethereum is trading for $3,502 at time of writing, a marginal increase during the last 24 hours.
#ETH🔥🔥🔥🔥 #BinanceTournament #Megadrop #CryptoTradingGuide #MicroStrategy

🔥 Bitcoin's Double Top Suggests BTC Could Fall to $50K: Analyst

The U.S. election and CPI could be a bullish factor later this year.

Fed's preferred inflation gauge, the PCE price index, due Friday, could offer relief.

Bitcoin (BTC) has carved out a double-top price pattern, signaling a potential bearish trend change ahead of key data release that could influence the Fed's interest rate path.

Bitcoin's price journey has been a rollercoaster this month. After surging to nearly $70,000, approaching the all-time high of March, it has now retreated to $63,000, decoupling from Nasdaq's continued move higher, largely due to faster selling by miners, profit-taking by investors near lifetime highs, and outflows from the U.S.-listed spot exchange-traded funds.

The price action has formed a double top, a bearish technical analysis pattern comprising two peaks with a valley in the middle, usually appearing after a notable uptrend. The second peak represents uptrend exhaustion, with the eventual breach of the low hit between the two peaks confirming a bearish trend change.

"Technically, bitcoin appears to follow a double top formation, whereas the support level is being tested. This chart formation should be our base case unless it becomes invalidated. This formation could easily see a drop to $50,000—if not $45,000," Markus Thielen, founder of 10x Research, said.

"Yes, the U.S. election and CPI should be bullish later this year, but we can still have a steeper correction," Thielen added.

However, the Fed's preferred inflation yardstick, the personal consumption expenditures (PCE) price index for May, is expected to show the slowest monthly advance in the core figure in over three years. That would cement the case for renewed Fed rate cuts from September, potentially putting a floor under risk assets, including bitcoin.

"[Recent] Strong economic data has forced [bond] yields higher and precious metals lower on Friday.
#BinanceTournament #Megadrop #CryptoTradingGuide #MicroStrategy #CertiKvsKraken

Bull Market Indicators Strengthen as Bearish Pressure Weakens

The cryptocurrency market is showing signs of a potential bull market resurgence, as key indicators reflect a significant reduction in bearish pressure.

30DMA Metric Declines Sharply, Bull Market Signal:-
The 30-day Moving Average (30DMA) Net Taker Volume metric is a critical measure of market sentiment. It has weakened from $15 million over 30 days to $1.8 million over the same period. This shift marks the greatest reduction in bearish pressure in the last two years.

As noted by Axel Adler Jr, Bitcoin Verified Author on CryptoQuant, such a decrease in bearish pressure may act as the last signal for the beginning of another rally in the cryptocurrency market. The decline in the 30DMA Net Taker Volume indicates that sellers are losing ground and sentiment may soon turn upward.

Reduced Coinbase Trading Volume Indicates Bullish Shift:-
Coinbase is currently responsible for 46% of all the spot trading. However, the average daily trade volume on Coinbase has fallen from 25,000 BTC per day to 9,700 BTC per day. In the context of a bull market, this is a sign that there is no forceful selling pressure.

It is also represented by yellow bars in the trading charts. This could end up being better because limited sellers will allow higher pricing with higher buyer demand. Eventually, this could lead to less selling patterns in the cryptocurrency market, which is where the bull market in the cryptocurrency begins. As a result, this allows for a favorable trading and investing atmosphere.
#Binance200M #BnbAth #TopCoinsJune2024 #ETHETFsApproved #FIT21

Bitcoin Drying Up On Exchanges, 22,647 BTC Removed in 7 Days

Several cryptocurrency exchanges have experienced significant efflux of Bitcoin (BTC) from their platforms in the last few weeks, a move that suggests sellers may be going out of market.

Bitcoin Price Returns to Under $70K:-
According to technical analyst Ali Martinez, approximately 22,647 Bitcoins were withdrawn across crypto exchanges in the past week. By this figure, a total of $1.57 billion has exited these digital asset trading platforms. These coins are probably leaving the centralized exchanges for storage in other platforms in what might be considered a bullish move.

This new development comes on the wheel of a significant dip in the price of the flagship cryptocurrency. At press time, Bitcoin was trading at $69,326.16 after a 2.35% drop in value within the last 24 hours. The coin recently soared above $70,000, causing excitement amongst investors and crypto enthusiasts. However, it suddenly began a bearish slump on Friday after the release of US jobs data.

Per the data, the United States added 272,000 jobs in May, more than the market expectations, while the unemployment rate soared to 4%.

The coin’s price dip is also suspected to be a function of a decrease in GameStop’s share price, which has had a negative impact on the sentiment in the cryptocurrency market. Bitcoin Dominance metric, an indicator of the percentage of the total cryptocurrency market capitalization that belongs to BTC is looking good. This shows that while Bitcoin price is down and going through a retracement, the coin is still relatively performing better than other digital currencies.

Is Bitcoin Headed Towards a Bear or Bull Season?
The metrics “Crypto Fear & Greed Index” usually shows the market sentiment of digital assets.

This metric has decreased by 1.28% to about 77 and this suggests that the market sentiment is still in the ‘Greed’ territory.
#Binance200M #bitcoin #BnbAth #TopCoinsJune2024 #ETHETFsApproved

Real World Asset Tokenization Take the Lead as Best Performing Crypto Sector in May

Real-world asset (RWA) tokenization has become the top-performing crypto sector, outperforming major sectors like Ethereum (ETH) and Bitcoin (BTC).

Significant developments, including high-profile asset tokenizations and positive regulatory discussions, drive this surge. It also highlights the sector’s growing potential and importance in the financial industry.

High-Profile Use Cases and Regulations Boost the RWA Tokenization Sector:-
According to data from the crypto analytics platform Artemis Terminal, real-world asset tokenization was the best-performing crypto sector last month, with a 58% performance compared to the other 21 sectors. Ethereum and Bitcoin ecosystems followed, with 26.1% and 18.2% performance, respectively.

RWA tokenization has seen significant growth recently, driven by key developments in the sector. On June 4, Galaxy Digital issued a multimillion-dollar loan secured by a 316-year-old Stradivarius violin.

The loan uses the Stradivarius violin and its digital representation as a non-fungible token (NFT) as collateral. This strategy ensures strong security for Galaxy Digital while providing asset management flexibility. The physical violin remains under custodianship in Hong Kong, with stringent requirements for its removal.

On the same day, Watford Football Club (Watford FC) also initiated a digital equity sale. Partnering with the digital investment platform Republic, the sale offers approximately 10% of its shares. This equity sale will be available on Republic’s platform and Seedrs, its European counterpart.

Additionally, regulatory developments supported the sector. On June 7, the US Financial Services Committee held a hearing titled “Next Generation Infrastructure: How To enhance Real-World Assets Will Facilitate Efficient Markets.” The hearing assessed the need for more regulations to support tokenizing real-world assets and derivative products.
#Binance200M #BnbAth #TopCoinsJune2024 #ETHETFsApproved #FIT21

Cryptocurrency liquidations reach $160m amid marketwide turbulence

The cryptocurrency ecosystem witnesses increased liquidations as the market weathers correction.

According to data provided by Coinglass, the total crypto liquidations have reached $160.71 million in the past 24 hours. The majority of the liquidations are long positions, worth roughly $127.53 million, as the market takes a U-turn.

Data shows that only $33.18 million worth of diverse cryptocurrencies have been purged from short positions.

Per Coinglass, the global crypto open interest decreased by 2.95% in the past 24 hours — sitting at $69.3 billion at the time of writing.

Moreover, the amount of Ethereum (ETH) liquidations reached $27.81 million, surpassing Bitcoin’s (BTC) $20.36 million.

According to a crypto.news report on May 23, the ETH to BTC trader exposure ratio has increased due to the approval of spot Ethereum ETFs in the U.S. Notably, before the approval of these investment products, permanent ETH holders accumulated over 100,000 ETH tokens on May 20.

Notcoin (NOT) gained the third spot with $6.2 million in liquidations in the past 24 hours, per Coinglass data. However, the amount of short NOT positions purged reaches $3.77 million while roughly $2.43 million worth of long positions have been liquidated. This is due to the 29% price rally of the asset.

The increased liquidations come as the global crypto market capitalization declined by 2% in the past 24 hours, falling from $2.7 trillion to $2.66 trillion, according to data from CoinGecko. The total daily trading volume plunged by 8%, currently hovering at $86 billion.

At this point, lower price volatility would be expected, at least for large cryptocurrencies, due to the declining trading volume and open interest.

Read more: Cathie Wood at Consensus 2024: Bitcoin is ‘unstoppable’
#Megadrop #MtGox #EarnFreeCrypto2024 #ETHETFsApproved #FIT21

🔥 Ethereum ETFs Inch Closer Toward Launch as BlackRock Updates Filing

Financial giant BlackRock late Wednesday amended its filing with the SEC for its proposed spot Ethereum exchange traded fund (ETF). The May 29 update for the iShares Ethereum Trust is the first tangible sign of progress toward the market availability of an ETH-based ETF since the bombshell approval of the new financial vehicle last week.
“This is almost certainly the engagement we were looking for,” observed Bloomberg ETF analyst James Seyffart on Twitter. “Issuers and SEC are working towards the snot Ethereum ETF launches.”

His colleague Eric Balchunas concurred that it was a “good sign,” noting that the other applicants will likely follow suit. If the SEC promptly provides them with “one more round of fine-tune comments,” he said that there's a possibility that Ethereum ETFs could debut next month.

“End of June launch a legit possibility, [although] keeping my over/under date as July 4,” Balchunas tweeted.

BlackRock first filed an S-1 form with the SEC for its product in November, following similar proposals from ARK Invest, Fidelity, and VanEck. Crypto custodian Grayscale is also in the mix, seeking to convert its Grayscale Ethereum Trust (ETHE) into a spot Ethereum ETF. A similar conversion is credited with paving the way for spot Bitcoin ETFs, which were approved in January and led to a surge in the price of BTC and bullish sentiment across the crypto sector.

With spot Bitcoin ETFs now holding over one million Bitcoin, hopes are high that funds based on the second-largest cryptocurrency by market cap will similarly move markets upward.

While attention turned immediately toward Ethereum in the wake of Bitcoin ETF approvals, prospects of ETH-based equivalents seemed to dim over the next few months. But the mood brightened significantly two weeks ago with separate reports that the SEC was preparing to approve them after all.
#Megadrop #MtGox #EarnFreeCrypto2024 #ETHETFsApproved #FIT21

Shiba Inu Team Releases New Update for Shiba Eternity

The development arm of the Shiba Inu ecosystem has released a new update for Shiba Eternity, the cryptocurrency’s card collectible game (CCG).

Latest Features in Shiba Eternity:-
According to an X post shared by Shiba Eternity advisor Mazrael, the team has released v1.2.8, dubbed “Balancing Act.” The update brings a plethora of enhancements to Shiboshis, especially balancing its powers.

This suggests that the developers tweaked and modified the abilities of the Shiboshis collectibles to ensure fairness within the game.

“See you in Dogjo!” said Mazrael, as part of efforts to invite players to explore the latest changes in Shiba Eternity.

In a follow-up post, a pseudonymous Shiba Inu advocate shared a short clip showcasing the new features that came with Shiba Eternity v1.2.8. In the latest version, players can now stun the target’s enemy card using the frostfire blast, causing damage to its adjacent fighters.

Recovering from attacks in the upgraded version requires “2 BARK tokens.” Also, players will receive two armors when they use the cybernetic boost feature at the cost of 2 BARK tokens. Furthermore, players will be required to pay a fee of 2 BARK tokens to trade other tokens within the game.

Ongoing Development of Shiba Eternity P2E Version:-
The Shiba Eternity team has been working relentlessly to release the play-to-earn version of the game. This involves releasing important upgrades to fix some technical issues and also enhances its performance.

Last month, developers unveiled the first internal build of Shiba Eternity. It resolved certain issues associated with some cards, like Stealth Fighters and Princess Andromeda’s interaction with the game.
These updates are rolled out in preparation for the beta testing, which is expected to commence before the end of this quarter. Shiba Inu’s lead developer Shytoshi Kusama confirmed that beta testing of the P2E version of Shiba Eternity would commence in Q2 2024.
#Megadrop #MtGox #Shibalnu #EarnFreeCrypto2024 #ETHETFsApproved

Solana (SOL) Price Prediction for May 15

Bulls are trying to return to the game, according to CoinStats.

SOL/USD:-
The price of Solana (SOL) has increased by 1.07% since yesterday.

On the hourly chart, the rate of SOL might have set a local resistance level of $149.9. If buyers can hold the gained initiative and the bar closes near that mark, there is a chance to see an ongoing rise to the $152-$154 range tomorrow.

Bulls are also powerful on the bigger time frame. If the candle closes near the vital zone of $150, the upward move may lead to the test of the resistance of $158.5 soon.

From the midterm point of view, it is too early to think about a reversal as SOL has not accumulated enough energy yet.

Only if the rate gets back to $160 and fixes above it is there a chance to see a test of $180.

SOL is trading at $148.98 at press time.
#solanasummer #PEPEATH #GME #Memecoins #altcoins

XRP Whales Accumulate 540M XRP Worth $270M in 5 Weeks

Whale addresses are on an accumulation spree, having procured 540 million XRP worth over $270 million in the past five weeks.

Market veteran Ali Martinez called the public’s attention to this sustained accumulation pattern in a recent post on X, citing data sourced by on-chain intelligence resource Santiment. The buying spree comes up amid the ongoing market turbulence, which has seen XRP drop 16% since March 11.

XRP Faces Turbulence:-
For context, XRP capitalized on the market uptrend earlier this year to record an impressive price run. This rally allowed it to surge 53% from the low of $0.4853 on Jan. 31 to a yearly high of $0.7440 on March 11. However, this coincided with a push to a major resistance point, eventually leading to a price crash.

This crash was exacerbated by the market-wide turbulence, such as Bitcoin (BTC) and the rest of the market witnessed price declines. However, as XRP saw its price dip to lower levels, market participants took to accumulating more tokens in an apparent buy-the-dip pattern.

Whales Accumulate 540M XRP:-
As disclosed by Martinez, data from Santiment confirms that whale addresses holding between 1 million and 10 million XRP have been augmenting their balances since last month. Per the data, this cohort of addresses have procured 110 million XRP valued at $55 million over the last two weeks.
Due to this purchase spree, the cumulative balance of these whale addresses surged to 3.72 billion XRP, representing 6.7% of XRP’s circulating supply. Although this balance has dropped to 3.69 billion at the reporting time, it still represents an impressive uptick from the 3.61 billion figure recorded on April 29.

Bullish Sentiments Amid Price Struggles:-
Moreover, wallets holding 10 million to 100 million XRP have continued to increase in number since January. At the end of last year, these wallets amounted to 189. Nonetheless, they have increased to the current figure of 247, suggesting an addition of 58 new addresses this year.
#XRPUSDT🚨 #PEPEATH #GME #Memecoins

🔥 BREAKING! US Inflation Data Announced! Bitcoin is $64,000!

While Bitcoin, the leading cryptocurrency, followed a fluctuating course yesterday, it experienced declines and rises along with the events.

BTC, which rose before the PPI data, started to decline during FED President Jerome Powell's speech. It then rose again with news that the US state of Wisconsin had invested in a Bitcoin ETF.

While BTC continues its volatile movements, critical inflation data expected from the USA has been announced.

Here is the announced data:

Consumer Price Index Monthly: Announced 0.3% – Expected 0.4% – Previous 0.4%

Consumer Price Index Annual: Announced 3.4% – Expected 3.4% – Previous 3.5%

Core Consumer Price Index Monthly: Announced 0.3% – Expected 0.3% – Previous 0.4%

Core Consumer Price Index Annual: Announced 3.6% – Expected 3.6% – Previous 3.8%

The consumer price index is an important variable used to measure changes in consumer purchasing trends and US inflation.

A higher than expected value means a positive/bull market for the USD, and a lower than expected value means a negative/bear market for the USD.

*This is not investment advice.*
#BTC🔥🔥🔥🔥🔥 #PEPEATH #GME #Memecoins #ETHETFS

Ripple Launches Brazil Fund to Drive XRP Ledger Innovation in LATAM

Blockchain payments firm Ripple Labs Inc. and its developers have launched the Brazil Fund as it looks to foster the development of XRP Ledger (XRPL) in the country. The company revealed that Brazil comes off as the first country it is announcing a major fund to support its local tech ecosystem.

Powering the Ripple XRP Ledger Hub:-
According to the firm, Brazil has showcased a promising trend toward blockchain innovation. This promise is showcased by the government’s active testing of various blockchain development programs through the Banco Central do Brasil (BCB)’s regulatory Sandbox.
Joining this strong development and regulatory foundation, Ripple said it has already allocated grants to two startups building on the XRP Ledger. The first startup is goAssets, a firm that has created compliant product aimed at tokenizing real-world assets.

The tokenization scene is heating up with many projecting it as the new frontier for blockchain technology. At the moment, BlackRock is looking to capitalize on this path with the launch of a yield bearing stablecoin on Ethereum. The firm’s convictions regarding tokenization was raised higher when it led the $47 million investment in Securitize earlier this month.

Besides BlackRock, other major banks and even the memecoin project Floki has joined the tokenization bandwagon. This positions the Ripple-backed goAssets as a likely pioneer in this growing niche.

Creating a Bright Future on XRP Ledger:-
The XRP Ledger is a highly functional Layer-1 blockchain whose capabilities are yet to be fully harnessed. The protocol still lags behind its core rivals like Ethereum (ETH), Solana (SOL) and Cardano (ADA) in terms of smart contracts functionalities.

With the help of Ripple Developers and the community, the XRP Ledger is looking to change the narrative. Besides the grand introduction of smart contract functionalities through Hooks, it has continued to welcome important sidechains.
#XRPUSDT🚨 #PEPEATH #GME #Memecoins #ETHETFS

This Week's Agenda in Bitcoin and Altcoins: US Inflation Data! While Inflation Remains Strong, Famous US CEOs Last Hope on the FED!

As we enter an important week where critical data for Bitcoin and altcoins will be announced, US CPI and PPI data will be announced this week.
Apart from these data, the statements of FED President Jerome Powell and many FED members will also be followed in crypto money and global markets.

While the predictions in the market are for the Consumer Price Index (CPI) to remain strong in April; Inflation remained stubbornly above the Fed's 2% annual target in the first half of this year, even as higher interest rates dragged it down.

FED officials generally state that it is too early to reduce interest rates and that inflation is still well above the 2% target.

At this point, while expectations for the FED's interest rate cut have decreased since the beginning of 2024, a leading commentary platform, The Kobeissi Letter, stated in its latest assessment that the general expectation is that the CPI will remain high and said, “If the CPI rises again this week, this will indicate the third consecutive monthly increase.” ” said.

The Kobeissi Letter also included the thoughts of the CEOs of leading US companies about the possibility of a rate cut by the FED.

Stating that according to the April Conference Board CEO Confidence survey, the majority of US CEOs expect the FED to cut interest rates only once this year, Kobeissi said, “31% of the 136 CEOs who participated in the survey said they do not expect any interest rate cuts this year; % “26 of them said they expected only two interest rate cuts,” he said.

“38% of famous CEOs expect only one interest rate cut in 2024, while markets are pricing in only 2 interest rate cuts this year, the first of which will be in September.
*This is not investment advice.*
#notcoin #BTC🔥🔥🔥🔥🔥 #ETHETFS #altcoins #BinanceLaunchpool

🔥 Solana (SOL) Skyrockets 1,966% in Fund Flows: Is Solana ETF Possibility?

As became known, Solana (SOL) has experienced an unprecedented surge of 1,966% in fund inflows in the past week, firmly establishing itself as a standout leader in alternative cryptocurrency-focused investment products over the past week.

According to the latest report from CoinShares, a substantial $5.9 million was directed toward SOL-related products within this short time frame. This surge not only reaffirms SOL's dominance but also marks a nearly twenty-fold increase in inflows into Solana ETPs, totaling an impressive $17 million since the beginning of the year.

Contrary to this notable uptrend in SOL, the broader market landscape paints a different picture. While investment products for digital assets witnessed a commendable $130 million inflow, volumes for ETPs experienced a significant decline, dropping from April's $17 billion to $8 billion.

This trend suggests a diminishing involvement of ETP investors in the cryptocurrency ecosystem, now constituting only 22% of the total volume on global reputable exchanges.

When is the Solana ETF?
Amid growing interest from traditional investors in SOL, speculation arises regarding the feasibility of a Solana ETF. However, the potential for such an ETF is closely tied to the fate of the Ethereum ETF. With it facing regulatory obstacles, the path to a Solana ETF appears equally challenging.

Notably, regulatory ambiguity surrounds Ethereum ETF status, with the SEC's classification of SOL as an unregistered security in last year's case against the Kraken exchange adding to the uncertainty.

As investors await clarity on the ETF front, the prospect of a Solana ETF remains speculative, contingent upon regulatory developments and the resolution of Ethereum's ETF dilemma.
#SolanaInvesting #notcoin #ETHETFS #altcoins #BinanceLaunchpool

Ripple Bets Big in Japan: BD Role Open, VP Emi Yoshikawa Says

Following the game-changing announcement about SBI joining the XRP Ledger validator ecosystem, Ripple's VP Emi Yoshikawa announced the opening of a major position for XRPL progress in Japan.

Ripple is looking for BD experts to propel XRP Ledger adoption in Japan:-
U.S. fintech decacorn Ripple is actively looking for a business development manager who will be focused on promoting the adoption of XRP Ledger to Japanese companies. Such an announcement was made by Ripple's Strategic Initiatives VP Emi Yoshikawa on her X (formerly Twitter) account.

The ideal candidate should demonstrate strong interest and passion for Web3 and crypto segments and have business development experience. Also, they are expected to be cased in Tokyo, have flexible time resources and the ability to frequently participate in Web3-related events in-person.

Yoshikawa highlights that joining Ripple as a business development officer for B2B clients in Japan unlocks amazing career opportunities for potential candidates:

This is your chance to be involved in Web3 business development in a dynamic and fast-paced environment

The VP added that this position welcomes curious persons enjoying interacting with others.

As covered by U.Today previously, in Q4, 2023, Ripple opened a number of positions for expansion in Canada with B2B in focus as well.

Japanese heavyweight SBI VC Trade joins XRPL as a validator:-
For many years, Ripple has been a prominent player on the Japanese remittances market thanks to its ties with SBI, a local fintech behemoth.

Yesterday, it was announced that one of SBI's subsidiaries, SBI VC Trade, will be responsible for running a validator of the XRP Ledger blockchain network.

The XRP price is 1.21% up today; the coin is changing hands at $0.5051 on major spot centralized exchanges.
#RippleXRP? #BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins

Renowned Economist Reveals "The Date the Bull in Bitcoin Will End" and "The Peak Level BTC Will See"

Famous economist Timothy Peterson made some interesting predictions about the future price of Bitcoin in a recent statement. Known for his illuminating analyzes of cryptocurrency markets, Peterson based his predictions on Bitcoin's historical price behavior.

According to Peterson, Bitcoin price experiences a pullback from the moment it reaches its all-time high, and on average it consistently breaks the all-time high record again after 320 days.

Based on this historical trend, Peterson predicts that the current bull market will end in January 2025.

But Peterson didn't stop there. He also made a bold prediction about Bitcoin's peak value this cycle. “Based on adoption and previous declines, we can predict that the peak value of this cycle will be between $175,000 – $350,000 within the next 9 months,” he said.

But Peterson was careful to qualify his predictions. “That is, if the future is anything like the past,” he added, acknowledging the uncertainty inherent in predicting market trends.

BTC prices reached an all-time high in March this year.

*This is not investment advice.*
#BTC #BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins

Long-Term Holders Not Selling Bitcoin Following Peak At $73K

Bitcoin price has been on a downtrend for 2 months and failed to hold upside momentum, with bulls turning weak. Bitcoin on-chain data reveals long-term holders (LTH) are currently not selling following a peak at Bitcoin all-time high.

Long-Term Bitcoin Holders Remain Bullish:-
CryptoQuant verified on-chain analyst Axel Adler Jr in a post on X on May 11 shared a key on-chain metric indicating that long-term holders are not currently their holdings. Bitcoin price has struggled to recover fully due to macroeconomic concerns such as Fed rate cut jitters.
Long-Term Holder Spending Binary Indicator showed Long-Term Holders (LTH) sold 1.3 million BTC when Bitcoin hit over $73,000. However, they are not currently selling their BTC holdings anymore.

The smart money is looking to enter Bitcoin at the local bottom. “They currently have a lot of cash, around 1.3 million BTC,” he added.

Furthermore, he believes it is the perfect time for a deep correction to filter out all the non-serious crypto investors. Short Term-Holders (STH) had three major profit-taking events at levels 28K, 44K, and 72K, but there was only deep correction in August-September last year.

May has key events next week such as PPI, CPI and Fed Chair Jerome Powell’s speech. The recent University of Michigan consumer sentiment data revealed a fall from 77.2 in April to 67.4 in May, the lowest in six months and also missed market expectations of 76. Furthermore, inflation expectations for the year ahead rises to 3.5%, a six-month high from 3.2% in April. Also, the five-year inflation outlook hit 3.1% from 3.0%.
#BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins #BTC

Bitcoin repeats '2016 history perfectly' amid $350K price prediction — Traders

Bitcoin's price chart is resembling that of just weeks after the 2016 halving as it hovers around a local bottom, according to crypto traders.

Bitcoin BTC $60,980 is replicating the same path as it did after the 2016 Bitcoin halving event, with one indicator signaling it may be nearing its local bottom and another indicating it reaches $350,000 during "the peak" of this cycle, according to crypto traders.

“Bitcoin has repeated 2016 history perfectly, offering a downside wick below the bottom of its current re-accumulation range within a three-week window after the Halving,” pseudonymous crypto trader Rekt Capital declared in a May 11 post on X.

Rekt indicates that the re-accumulation range at this point of the cycle is any price below $61,081— which Bitcoin is currently trading below that at $60,901, according to CoinMarketCap data.
Furthermore, Rekt highlighted Bitcoin is currently in the "last pre-halving retrace" stage, which, once it passed in 2016, saw a 48% spike just six months later on Dec. 30, to $973.

However, the price drawdown from the all-time high (ATH) chart — which measures the decline from Bitcoin's peak to its lowest point over a specific time frame — suggests a much more ambitious price, according to founder and investment manager at Cane Island Alternative Advisors Timothy Peterson.

Referencing the chart, Peterson estimates that Bitcoin's current price may rise nearly sixfold by the beginning of 2025.

“Based on adoption and prior drawdowns, we can guesstimate that the peak value of this cycle would be between $175,000 - $350,000 in the next 9 months,” he explained in a May 11 post on X.
“Based on history, we can say that this bull market will end in January 2025,” Peterson added.
#BinanceLaunchpool #ETHETFS #ETFvsBTC #altcoins #BTC

Here's When Shiba Inu May Hit $0.005 and $0.025 If Shibarium Burns 100T SHIB per Year

Let’s find out how long it might take for Shiba Inu to hit $0.005 and $0.025 if the ecosystem layer-2 blockchain Shibarium burns 100 trillion SHIB tokens a year.

Shiba Inu’s attempt to replicate its past monumental upsurge, which turned $12 to $1 million in 2021, has met a massive roadblock in the form of its circulating supply. SHIB was able to engineer the price run from 2020 to 2021 due to a confluence of multiple factors, such as increased demand and bullish market momentum.

Shiba Inu Faces a Roadblock:-
However, one important factor that allowed this upsurge to materialize was its low market cap, which stood at a mere $11,359 in January 2021, according to CoinGecko data. Such a low market capitalization showed that SHIB had room for growth, with this growth resulting in a surge in valuation to $36 billion in October 2021.

At this valuation, which came up when SHIB hit the ATH above $0.00008, it was much more difficult for the canine-themed token to record further upside swings. Consequently, for Shiba Inu to see a similar price uptrend, its circulating supply needs to be trimmed down, allowing room for additional growth.

This theory birthed the Shiba Inu burn campaign, which the community has continued to champion. Shibarium, the ecosystem’s layer-2 scaling solution, is designed to support this campaign by incinerating SHIB with a portion of its gas fees. However, a slowdown in community adoption has not yielded the desired results.

What if Shibarium Burns 100T SHIB a Year?
So far, Shibarium has burned over 56 billion SHIB tokens since its launch last August, with the development team looking to transition from a manual to an automatic burn model. There have also been rallying calls for increased community usage of Shibarium and projects on it to bolster the burn process.
#SolanaMemeCoins #SHIB #ETHETFS #altcoins #BlackRock

Solana drops 5% on the new FTX plan, quick rebound to wipe $125M shorts

If Solana recovers as quickly as it has in recent times, approximately $125 million in short positions will be liquidated.
Solana dropped 5% in a day amid further FTX sell-off concerns, and current trader positions suggest $125 million is in jeopardy if it were to bounce back as it has in recent times.

The price decline comes alongside a 40% decrease in open interest (OI) of Solana’s
SOL $143 over the last 30 days, down to $1.78 billion on May 9, according to CoinGlass data.

The steep decline in OI typically signals that traders are uncertain about the cryptocurrency and are not confident in taking positions on the asset’s price.
However, Solana has a recent knack for recovering quickly from its dips, which, as of now, could jeopardize over a hundred million dollars in short positions.
Over the past 30 days, Solana has seen periods where its price has dipped and recovered 5% within 24 hours.

On April 19, Solana saw a similar 5% decrease before quickly recovering to $157 within hours, just ahead of the Bitcoin halving on April 20.

Similarly, if Solana’s price rises 5% to regain its May 7 price of $157, $125 million in short positions will be liquidated.
Just days before Solana dipped on May 7, pseudonymous crypto trader CryptoAce told his 13,400 followers on X that Solana’s price was “inside the resistance box” and accurately predicted that a rejection would lead to a drop toward the $142.50 level.
However, Solana’s most recent fall may be attributed to FTX announcing on the same day that it had adequate funds to repay victims of the exchange’s collapse once it sold off its assets — a large portion of those being Solana.
#SolanaMemeCoins #SHIB #ETHETFS #altcoins #BlackRock