The fate of Ethereum ETFs looks uncertain – Is this why?

The popularity of spot Bitcoin [BTC] ETFs has created a new paradigm for the crypto market, spurring strong demand for similar investment opportunities for other currencies as well.

The next candidate in the queue was Ethereum [ETH], the world’s second-largest cryptocurrency, which was anticipating its own spot ETF in the next two months.

While the mood was largely optimistic, some concerning developments surfaced, casting doubts on the likelihood of approvals.

Bloomberg’s senior ETF analyst Eric Balchunas stated that the staff at the U.S. Securities and Exchange Commission (SEC) were yet to give any comments regarding the ETFs to the asset managers.

Balchunas interpreted this as “not a good sign” since the regulator commented on Bitcoin spot ETFs previously.

The analyst added that the lack of dialogue between the two parties was lowering the odds of approval each day.

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Bitcoin shorts stay absent amid 'very normal' sub-$66K BTC price dip.

Bitcoin may have fallen to its lowest levels in over a week, but BTC price optimism is anything but fading.

Bitcoin BTC tickers down $67,366 sank past weekly lows before the March 15 Wall Street open as traders remained unfazed on the bull market.

Data from Cointelegraph Markets Pro and TradingView showed BTC price downside reaching $65,569 on Bitstamp.

After hitting fresh all-time highs the day prior, momentum faded before support levels began seeing their first major retest. At the time of writing, Bitcoin’s old record high of $69,000 from 2021 was failing to buoy the market.

Reacting, market observers appeared calm. Bitcoin bull markets, they reasoned, usually involved corrective moves as part of a broader uptrend.

“Bitcoin’s price retracing -10% on this move when greater than -30% corrections are normal during bull runs,” popular commentator On-Chain College wrote on X (formerly Twitter).

“This drop is after a strong move to all-time highs with >95% of the supply sitting in unrealized profit. Nothing to see here, very normal bull market behavior.”

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Bitcoin (BTC) Advocate Samson Mow Shifts Some Capital to Gold.

Bitcoin BTC USD advocate Samson Mow has made a very important revelation as he showcased the diversification of some of his capital from the premier digital currency into Gold.

Hedging Bitcoin bet with Gold

Over the past few years, there has been a deep conversation and debate regarding Bitcoin and Gold supremacy. While many Bitcoin proponents have chosen between these two asset classes, Samson Mow has, until now, been silent about his views on Gold.

The Bitcoin bull shared a picture of Ouro Portuguese Gold with a caption that suggests he bought some gold bars while on his way from the Bitcoin Atlantis conference that took place in Madeira, Portugal.

On the way home from @BitcoinAtlantis, I diversified my holdings a bit. pic.twitter.com/sAzWM5ncOQ— Samson Mow (@Excellion) March 27, 2024

Financial leaders like the "Rich Dad Poor Dad" author Robert Kiyosaki are known to favor a diversified asset portfolio with a heavy Gold component.

Gold has served as the de facto hedge against inflation and fiat devaluation for decades. With the emergence of Bitcoin, the sentiment shifted to Bitcoin, especially as its total supply is limited to 21 million unlike Gold whose supply is unlimited.

While many community members have questioned the decision to bet on Gold considering its relative stagnancy, Samson Mow's move aligns with the general market experts’ recommendation of portfolio diversification.

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Meme Coin Mania Back? PEPE and WIF Rally as Bitcoin Remains Near ATH.

The surge in meme coins is back, with PepeCoin (PEPE) and Dogwifhat (WIF) leading the charge.

According to data from CoinMarketCap, PEPE has gained more than 21% over the past day, with WIF commanding an impressive 44% gain.

Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest meme coins in terms of market cap, have also surged, though not as strong as their smaller successors.

The leading meme coin has increased more than 7% over the past day, with SHIB gaining a mere 2%.

The rally in meme coins like PEPE and WIF is indicative of a broader trend in the cryptocurrency market, where speculative manias for these tokens are reviving.

This revival is marked by average gains of 13% across meme coins in a single day.

Bitcoin Remains Near ATH
The surge in meme coins come at a time when Bitcoin continues to hover near its all-time high (ATH), adding an extra layer of excitement to the crypto market.

The leading cryptocurrency is currently trading at $73,347, largely flat over the past day. It recorded a new all-time high of $73,750 just earlier today.

Bitcoin has also been on a wild ride since the start of the year.

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Ethereum and NEO gain as InsanityBets readies for launch.

Ethereum (ETH) surpasses $4,000, marking a 60% monthly increase, as NEO also rises. InsanityBets gears up for its web3 gaming platform debut.

Ethereum (ETH) has recently broken through the $4,000 mark, surging 60% in just one month, showcasing its robust growth trajectory.

Meanwhile, NEO has seen notable monthly rises, highlighting investor interest in diverse blockchain projects.

Amidst these developments, the crypto gaming sector is set to expand with the upcoming launch of InsanityBets, a project that is currently not on the radar of most crypto investors, giving you the chance to get in before the crowd.

Ethereum’s impressive surge to $4k
Ethereum’s recent performance has captivated the cryptocurrency community, as it surpassed the $4,000 threshold, demonstrating a substantial 60% increase over the past month. This significant growth reflects the burgeoning interest and confidence in Ethereum’s long-term potential, especially considering its pivotal role in DeFi, smart contracts, and the broader blockchain ecosystem

The momentum behind Ethereum suggests a bullish outlook, with technical indicators like the Exponential Moving Average (EMA) Ribbon and the Money Flow Index (MFI) signaling strong buying interest and positive momentum

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Breaking: Ethereum Foundation Under Investigation By A State Authority.

The Ethereum Foundation is reportedly under investigation by a State Authority, a new update disclosed through the protocol’s GitHub repository.

The Unclear Inquiry Into Ethereum Foundation
According to the GitHub update, the disclosure of the inquiry was made weeks ago, marking the first time any State Authority will be issuing such a probe into the Ethereum blockchain developer.

“This commit removes a section of the footer as we have received a voluntary enquiry from a state authority that included a requirement for confidentiality,” said Pablo Pettinari, one of the core developers at the Ethereum Foundation, in a commit on February 26.

The GitHub commit showed the removal of contact, another bizarre trend that negates its core tenets of transparency. The inquiry also led to the removal of a canary that represented the Ethereum network from the foundation’s website. Per the Wayback Machine data, this canary feature and its associated text were present in January.

The community has been thrown into undue speculation following the breaking of the inquiry. With the Ethereum Foundation currently not sharing additional details about the probe, any potential fallout in the long term will go a long way in helping stakeholders understand what the core challenge is.

Ethereum remains a controversial digital currency as it relates to its security classification. Through a series of intricate events, there are allegations of a likely conflict of interest with Jay Clayton, the former Chairman of the United States Securities and Exchange Commission (SEC) who filed a lawsuit against XRP days before leaving office.

Many in the community postulated that this lawsuit was directed at XRP to stump competition, however, there is no evidence at the moment to connect this with the current State Authority inquiry.

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Bitcoin Price at $100k by September 2024: Robert Kiyosaki’s Bold Prediction.

Renowned author and investor, Robert Kiyosaki, known for his insightful perspectives, has once again voiced his optimism regarding Bitcoin, projecting a bullish trajectory for the cryptocurrency. His latest prediction suggests that Bitcoin’s value could soar to $100,000 by the year’s end. Kiyosaki’s endorsement comes with a personal investment strategy tailored to harness the potential growth of Bitcoin.

Read more about his strategy below.

Kiyosaki’s (Clever?) Approach
Kiyosaki’s strategy revolves around seizing the opportunity presented by Bitcoin’s upcoming halving event. He recommends investing in Bitcoin whether you’re buying whole coins or smaller fractions like ETFs and Satoshis. His belief is so strong that he plans to add another 10 Bitcoins to his portfolio before April hits.

Kiyosaki’s bullish stance is echoed by other financial heavyweights like Michael Saylor and Andy Schectman. They warn against relying on fiat currencies, dubbing them “fake” money. Instead, they advocate for Bitcoin as a safer option amidst economic uncertainty and geopolitical tensions.

It’s been a Rollercoaster Ride!
Despite recent ups and downs, Bitcoin has shown resilience, bouncing back from lows of $61,000 to surpass $65,000 within a week. This rally is driven by strong buying interest, highlighting continued confidence in Bitcoin’s potential. The cryptocurrency’s price movements closely mirror the 20-day exponential moving average, reflecting ongoing battles between buyers and sellers.

What’s Next for Bitcoin?
Technical analysis suggests that if Bitcoin can break through the $69,000 resistance level, it could open the floodgates to even higher valuations, possibly hitting $75,000. However, failing to hold support levels could lead to further corrections, underscoring the volatile nature of the cryptocurrency market.

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Dogecoin Whale Sells 118 Mln Coins Amid DOGE’s Dip To $0.15, What’s Next?

In a thrilling plot twist witnessed recently, a Dogecoin whale’s massive selloff appears to be garnering significant attention among crypto market traders and investors globally as DOGE’s price recently dropped to the $0.15 mark, following a notable upward momentum showcased in the past few days. Aligning with a substantial crypto market crash witnessed yesterday, resulting from colossal selloffs, this DOGE offloading chronicle birthed bearish sentiments on one of the most prominent meme coins globally.

Dogecoin Whale’s Offloading Mirrors Bearishness
According to the insights unveiled by the blockchain tracker Whale Alert, a whopping 118.40 million DOGE, worth $19.75 million, was noted to be shifted to Robinhood by an unknown wallet address today, March 16. This selloff birthed a tidal wave of bearishness on Dogecoin, aligning with its recent fall, as the transaction also showcased the whale’s loss of confidence in the abovementioned asset.

Meanwhile, with speculations of a potential meme coin rally end hovering over the crypto horizon, as the majority of meme tokens noted a dip in recent days, this selloff added up to the tidal wave of bearish thoughts on the Elon Musk-supported meme coin.

While, in the interim, market dynamics for DOGE further fueled speculations over a continued slump ahead.

As of writing, Dogecoin’s price noted a substantial drop of 4.17% over the past 24 hours and is currently resting at $0.1604. The meme token even slipped as low as $0.15 today, alarmingly piquing worldwide attention. With the whale’s selloff further weighing in, a bearish sentiment for the token prevails within the broader crypto market.

Derivatives data highlighted by Coinglass additionally showcased bears taking control, as the open interest and volume dropped 6.32% and 48.57% simultaneously.

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Shiba Inu Gets Closer to Dogecoin’s Market Cap: Can SHIB Flip DOGE?

Memecoins, in general, have seen a meteoric rise over the last week. Shiba Inu (SHIB) has gained several spots in the top 100 rankings and sits just below its rival, Dogecoin (DOGE).

Shiba Inu’s (SHIB) price has rallied by 230% in the weekly charts, 272.1% in the 14-day charts, and almost 300% over the previous month. Dogecoin (DOGE), on the other hand, has rallied 75.5% in the weekly charts, 96.8% in the 14-day charts, and 112.6% over the last month. However, both assets have faced a steep correction in the daily charts. SHIB’s price has fallen 13.3% in 24 hours, while DOGE has dropped 9.7% in the same time frame.

SHIB’s market cap currently stands at $20.3 billion, while DOGE’s is $23.8 billion. SHIB’s market is just about 13% away from DOGE’s. Hence, if the popular meme coin continues its bullish trajectory, it may surpass DOGE in the rankings.

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How high can Bitcoin go? New BTC price prediction sees cycle top at $180K

Bitcoin BTC tickers down $70,842 price could gain another 150% during the current bull market cycle, according to Laurent Benayoun, the CEO of Acheron Trading and quantitative trading strategies expert.

Bitcoin price top at $180K?
The executive anticipates a potential cycle top of $180,000 for BTC price, based on a combination of factors, including the spot Bitcoin exchange-traded funds (ETFs), and the new supply reduction from the upcoming Bitcoin halving.

Benayoun explained:

“If we look at historical performance, with every cycle the multiple on the all-time is getting lower. So if we apply this reasoning it could be 2x to 3x what we saw in the previous cycles, so let's say around $120,000 to $180,000 per unit.”
Improving financial policy in the United States will also contribute to Bitcoin’s price appreciation, according to Benayoun:

“The market is pricing in a reduction in interest rates because they have been flatlining, so it’s reasonable to expect them to go down in the near future.”
Other BTC price predictions
Benayoun’s prediction is in line with several other recent forecasts. Bitfinex analysts, for instance, see price reaching $120,000 by the end of 2024, according to a research report shared with Cointelegraph:

“Our analysis forecasts a conservative price objective of $100,000-$120,000 to be achieved by Q4 2024, and the cycle peak to be achieved sometime in 2025 in terms of total crypto market capitalization. The ETFs have introduced passive demand which means demand is coming from investors that is largely price agnostic.”
Meanwhile, wealth management giant Bernstein expects Bitcoin to break out to around $150,000 following the halving by mid-2025.

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TRX Shows Signs of Bullish Momentum Amid Bearish Trend, Technicals Show Promising Signs & Could Fuel Further Gains.

The crypto market prices have fluctuated wildly recently, with TRON (TRX) being one of them. According to the latest market data, TRX is currently trading at $0.119, with a 14.75% decrease over the past month but a 1.27% increase in the last 24 hours. TRON’s market cap stands at over $10.4 billion, the 15th largest cryptocurrency by market cap. The trading volume over the past 24 hours is over $292million. Notably, the volume-to-market cap ratio for the same period is a healthy 2.79%, indicating a decent level of liquidity.

The circulating supply of TRX tokens is 87,700,333,118, with a slight difference of the total supply that stands at 87,700,390,476.

TRON has been trading in a bearish trend for the entire month of March after hitting resistance at the $0.1451 zone 26th February. However, last week’s candle closed bullish, following a double retest of support at the ascending triangle and horizontal support level.

Despite prices currently trading below last week’s close, TRON has demonstrated bullish pressure since hitting a low of $0.1151 earlier this week and the price is now on a trajectory to test resistance at the $0.1225 zone.

TRON has been trading bearishly since February 28th, following a rejection at the $0.1451 resistance zone. However, on March 19th, the price found support at an ascending trendline and has since bounced back, trading within a ranging channel between $0.1225 and $0.1150.

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Top Crypto Events to Watch in April 2024.

April 2024 is an important month in the growth and development of the world of cryptocurrencies. There are a series of significant events lined up on the horizon. From the eagerly awaited Bitcoin halving to legal battles involving prominent figures and groundbreaking project launches, the month ahead promises a flurry of activity and speculation.

Bitcoin Halving
At the forefront is the fourth Bitcoin halving, scheduled for April. Analysts, including Michaël van de Poppe, anticipate that this event could spark a surge in altcoin prices, potentially reshaping market dynamics. Signs of this shift are already visible, with Bitcoin exhibiting notable volatility, even surpassing Ether in recent times before the halving.

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Bitcoin halving will spur ‘surge’ in NFT volume.

Mintable founder Zach Burks said that if the halving boosts user engagement, there would be an uptrend in NFT prices.

As the much-anticipated Bitcoin halving looms closer, professionals working in the nonfungible token (NFT) space anticipate that the crypto milestone will not only affect crypto tokens but may also positively impact the NFT ecosystem.

Oscar Franklin Tan, the chief financial officer of Atlas Development, a core contributor to the NFT platform Enjin, believes that NFT prices will “surge after the halving.” The executive argued that this is part of a known cycle where interest in Bitcoin
BTC tickers down $65,761 spills over other ecosystems like NFTs. Tan said:

“Prices and volumes should eventually surge after the halving as part of the known cycle. Because NFTs are established segments of ecosystems, interest from Bitcoin will spill over into NFTs together with altcoins.”

Zach Burks, the founder of NFT marketplace Mintable, said that while accurately predicting the future growth or adoption of technology is almost impossible, the community can expect an increase in trading volume for NFTs as Bitcoin’s price rises. “If the halving also boosts user engagement, it is reasonable to expect an uptrend in NFT prices.”

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Tron Founder Justin Sun Fuels Ether Fi with Massive $480M ETH Deposit.

A wallet that is attributed to Justin Sun, the founder of Tron, deposited a deposit of 120,000 Ethereum (ETH), which is worth around $480 million, into the liquid restaking protocol Ether Fi. This deal constitutes a major occurrence for both Justin Sun and the Ether Fi platform, thus solidifying Sun’s involvement in the decentralized finance (DeFi) sector.

Ether Fi Gains Momentum
Ether Fi, a protocol that recently finalized a $23 million funding round, is getting closer to a significant threshold by holding almost $3 billion in total value, according to DefiLlama data. The strategic gestures of the platform, the launch of its token, and the huge $600 million collaboration with the Omni Network demonstrate the growing importance of EigenLayer security measures within the ecosystem as well as the broader DeFi market.

The cornerstone of Ether Fi’s proposition is liquid restaking. This method permits staking ether for yield and potential rewards in the form of loyalty points, which can be converted into token airdrops. This protocol generates eETH, a liquid restaking token that follows the price of Ether and can be used in different DeFi protocols for additional yield.

Justin Sun DeFi Endeavors
This latest investment is yet another display of Justin Sun, the founder of Tron and a widely known figure in the cryptocurrency world, commitment to the DeFi space. Sun’s presence in DeFi is not new; last year, he helped solve a liquidity crisis in Curve Finance by buying CRV tokens worth $2.3 million. Such a move was a result of a difficult situation concerning Curve’s founder, Michael Egorov, and it stressed the proactive attitude Sun has towards helping the DeFi ecosystem.

The Ether Fi deposit started in February, with the wallet moving ether from Binance at a time when the coin was priced near $2,800. After that, the price of ETH rose considerably, and it is being traded at about $3739.

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New users flock to Ethereum while long-term holders are less active than ever.

Long-term holders of ether, the currency of the Ethereum blockchain, appear to be holding on tighter than ever before.

According to data from The Block, the active supply of ether, or the supply that has been moved from one wallet to another within certain time periods, is currently at a historical low point for periods of one year or longer. The active supply over 30- and 90-days is also near all-time lows, having fallen over half from their peaks.

While the supply of ether active within one year has declined over the past twelve months by about 9%, the supply of active bitcoin, after also hitting a record low, staged a recovery to end the period with a gain of around 1% in one-year active supply. Bitcoin's recovery greatly reduced the large gap that once existed in active supply between the two top cryptocurrencies by market cap.

While long term Ethereum users appear to be showing low activity, with enthusiasm around Base reaching record levels, new users appear to be flooding into the Ethereum ecosystem. Last month, Ethereum added 3.66 million new addresses, the highest level since November 2021, the month of FTX's collapse.

Ethereum also underwent the Dencun upgrade last month, introducing "blobs" in order to lower Layer 2 network transaction costs.

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Price analysis 4/5: BTC, ETH, BNB, SOL, XRP, DOGE, ADA, AVAX, TON, SHIB

Bitcoin remains locked in a battle near the $69,000 mark, which may extend for a few more days.

Bitcoin BTC tickers down $67,864 has been witnessing a tough battle between the bulls and the bears near the $69,000 mark. Independent trader and analyst Daan Crypto Trades said in a X post that Bitcoin has been hovering around the 2021 cycle high for about four weeks. Historically, Bitcoin consolidates for about 4-8 weeks near the cycle highs before the price starts moving again.

Although the range-bound action frustrates traders, the shallow pullback is a positive sign. Checkmate, the pseudonymous lead on-chain analyst at Glassnode, said in a X post that during the previous bull market cycle between 2019 and the end of 2021, Bitcoin witnessed two corrections of more than 50%. However, pullbacks during the current bull phase have been milder, with the last 20% drawdown in September last year.

The massive buying interest in the spot Bitcoin exchange-traded funds may have limited the downside during the current cycle. Another reason for the shallow pullback could be the expectation that Bitcoin could extend its bull market after the Bitcoin halving.

Will Bitcoin’s current consolidation resolve to the downside or the upside? Is the correction in select altcoins over? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis
Bitcoin has formed a symmetrical triangle pattern, indicating a balance between buyers and sellers. Generally, the symmetrical triangle acts as a continuation pattern, but sometimes, it may behave as a reversal setup.

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Bitcoin Rally May Slow as Order-Book Imbalance Hints at Profit Taking.

The gap between liquidity on the ask and bid sides of the order book within 2% of the market price has widened to nearly five times is usual value, according to data tracked by Kaiko.

The gap between liquidity on the ask and bid side within 2% of the market price has widened to nearly $100 million, according to data tracked by Kaiko.

The persistent gap likely stems from investors taking profit at record-high prices and market makers' positioning.

Bitcoin's (BTC) price rally may face temporary resistance as the climb to a record high seems to have spurred profit-taking among holders of the largest cryptocurrency by market cap.

That's the message from the imbalance between potential sellers and buyers in bitcoin's aggregated order book across 33 centralized exchanges. The gap between the total dollar value of orders to sell bitcoin, the so-called ask side, and orders to buy, the bid side, within 2% of the market price has widened to nearly $100 million, according to Paris-based Kaiko. That's about five times its usual value.

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