📬🚀🚀: 🔶Bitcoin's ascent will accelerate. 🔶I've mentioned it before; there will be a 🔶Scarcity of #Bitcoin. Stay with $BTC . #Write2Earn #BinancaEarn #BTC
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Activity Period: 2024-07-05 12:00 (UTC) to 2024-07-10 11:59 (UTC)
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📢📬📉📈📊 Was the ETH price flash crash to $3,180 triggered by excessive leverage? Ether (ETH) price gained 14% between Feb. 26 and Feb. 28, reaching the highest level in almost two years at $3,484, but the movement coincided with a surge in the cost for bullish leverage positions, which is somewhat concerning. Given that Ether experienced a flash crash down to $3,180 on Feb. 28, some investors believe that excessive optimism driven by fear of mis FOMO has increased the risk of cascading liquidations.
📢📬📈📉📊Not all Ether leverage demand is related to YOLO bets
Firstly, one needs to note that some traders might need temporary leverage while they raise cash, either by selling other assets or waiting for deposits to kick in. Such movements are common in the heat of the market, even for professional arbitrage desks, and cause the funding rate to soar, which can last for a couple of days or even weeks.
Some analysts argue that the reason behind investors' increased optimism toward Ether’s price is the upcoming Dencun hard fork, scheduled for March 13. The upgrade introduces several improvements, including proto-danksharding, which aims to reduce layer-2 transaction fees. The expected upgrade would greatly reduce the data registry cost for Ethereum network's preferred scaling solution, rollups.
🚀🚀📢 $There is light at the end of the tunnel for every pioneer. It just depends on you to keep being a pioneer. Don't tire out. The Core Team is working hard to get us there. Keep the faith 🔶🎖️https://minepi.com/YoukhG19 #Write2Earn #Write2Earn #PiNetwork
🎉🎖️Bitcoin Breaks Above $50,000 in Stunning Comeback
📬 You can also read this news on BH NEWS: Bitcoin Breaks Above $50,000 in Stunning Comeback
📬🎖️📌Bitcoin, the leading digital currency, has recently exceeded the $50,000 threshold for the first time since December 2021, marking a significant recovery from past adversities. At the moment of reporting, Bitcoin’s value stands at $50,123, indicating a potent resurgence in the cryptocurrency market.
Resilience in the Face of Criticism
📬 Despite facing a barrage of skepticism and negative media coverage, with many branding digital currencies as fraudulent, Bitcoin’s latest performance offers a robust counterargument. The cryptocurrency has endured various challenges, including high-profile hacks, company collapses, and disparaging remarks from US politicians. Nevertheless, the rise to $50,000 attests to Bitcoin’s enduring appeal and capacity to bounce back from setbacks.
🎖️Market Dynamics and Future Prospects
📬🎖️Past patterns of fluctuating market cycles have once again held true, with Bitcoin not only recovering from a dip but also setting its sights on surpassing record highs. While the current surge could potentially face a correction phase or extend beyond the $60,000 mark, it’s a reminder to investors that the volatile nature of cryptocurrency prices means both ascents and descents are temporary.
📬🎉🎖️Presently, Bitcoin’s price is positioned above the $50,000 milestone. Analyst ‘Capo’ anticipates possible resistance at this level, with a chance of a downturn similar to those observed at $30,000 and $40,000 thresholds. Conversely, should the uptrend persist, projections indicate that Bitcoin could challenge values between $52,000 and $58,000 in the near future.
📬🎉This significant development in Bitcoin’s valuation has sparked optimism among investors and enthusiasts, promising a potentially bright future for the cryptocurrency market.
📌The post first appeared on BH NEWS: Bitcoin Breaks Above $50,000 in Stunning Comebac#Write2Earn
📬📢 Bitcoin Back Above $48,000 – Is This Level The Springboard To $52,000?
📌📬 Bitcoin roared back this week, clawing its way to $48,207 – its highest point since early January. This fiery ascent follows weeks of muted trading, fueled by concerns about institutional outflows and a post-ETF price dip. But what’s sparking this sudden surge? And can the digital dragon overcome its next hurdle? 📌📬 Positive Winds Fill Bitcoin’s Sails
📌Several factors are propelling Bitcoin’s recent rally: 📬📌Spot ETF Momentum: The long-awaited launch of spot Bitcoin ETFs in January might be finally delivering on its promise. Potential inflows and positive sentiment surrounding these new investment vehicles are driving interest.
📬Halving Horizon: The Bitcoin halving, scheduled for May 2024, looms large. Historically, this event, which reduces the rate of new Bitcoin creation, has been linked to price increases, fueling investor optimism.
📬Market Synergy: The S&P 500’s recent ascent to record highs seems to be spilling over to the crypto market, creating a wave of positive momentum.
📬Lunar Luck? Bitcoin often experiences gains around the Chinese New Year, and this year is no exception. The “Year of the Dragon,” with its auspicious connotations, adds another layer of bullish sentiment.
📬ETF Absorption of Selling Pressure: Several ETFs have absorbed over a billion dollars worth of Bitcoin selling pressure in recent weeks, indicating underlying demand despite pre-ETF concerns.
📬📌But Can Bitcoin Slay The Resistance Dragon?
While the outlook seems bright, challenges remain:
🎈Resistance at $48,500: Bitcoin faces a crucial resistance level at $48,500. Breaking through this barrier is key for a potential new all-time high.
🎈Post-ETF Sell-off: Despite the recent surge, Bitcoin remains below its pre-ETF highs, sparking concerns about a potential sell-off after the initial excitement fades
🎉🎈🎈 BTC, ETH & XRP Holders are in Profit as Bitcoin Price Soars Above $48,000 Ahead of Halving
📬🚀:In a surprising move, the Bitcoin price smashed above $48,000 during the previous training day, displaying the growing strength among the bulls. With a significant rise in the buying volume, enough pressure mounted, which assisted the move. Besides, the bears also appear to have become vigilant, which may hinder the growth of the rally to some extent.
📢 🚀:Soon after the launch of the spot Bitcoin ETF, it was expected that the BTC price could jump in action and achieve $50,000 in no time. Unfortunately, the bears took over the market and restricted the rally below $43,000. The recent bullish push flipped market sentiments to a large extent and cleared the way for the token to reach $50,000. Now the bulls are expected to receive significant strength as more liquidity may flow into the space soon.
📬🚀:As per the data from Santiment, the crypto wallets have become profitable with the recent push. Hence, this may invite more participants onto the platform, increasing the volume and volatility and hence impacting the prices of the tokens.
📬📢🚀:The above data shows that more than 90% of the total BTC supply is in profits, along with 84.7% of ETH and 79.9% of XRP. With this, the popular on-chain platform suggests the price could be making an end-of-week push toward $50,000. Secondly, the upswing materialised despite Grayscale trying to mount significant selling pressure over the BTC price. This suggests the traders have turned completely optimistic about the price and hence a steep upswing could be imminent.
📬📢 GALA Crypto: Is GALA Crypto Going To Blast Off & Break Range?
📬📢The GALA crypto surged from $0.0125 and surged to $0.0360 wonderfully but failed to sustain at the top and plummeted and formed support at $0.0204.
📬📢However, the GALA crypto has revealed a sign of recovery as the price has been showing signs of sustenance at a crucial level of around $0.0204 on the chart.
📬📢The GALA crypto is set for a colossal surge, as it gears up to crack the resistance level and rocket to new peaks from the current support zone.
📬📢The GALA asset is exhibiting bullish strength and rising capacity as it approaches to cut major EMA bands from below which would confirm bullish signals.
📬📢Furthermore, the GALA crypto asset is displaying bullish behavior as MACD shows a bullish crossover. Where MACD is at -0.0011, the signal line is at -0.0012, and the histogram is at 0.00014. the histogram highlights the increase in the graph signifying an increase in the gap in both lines.
📬📢The RSI is not near the 70 level yet and has taken swift support on the 14-SMA smoothened line and RSI curve has cut the 14-SMA line from below showing bullish strength, meaning that the asset is not facing much resistance and can extend its gains in the upcoming sessions.
📬📢On top of that, the asset price structure is showing bullish signs and displays it has the potential to grow further. It has not performed well in the past week. But it has been in a consolidation phase for a prolonged time, indicating a strong uptrend.
📬📢At the time of publishing, the GALA crypto is experiencing a surge of 1.34% in the last 24 hours, trading at $0.022090. Therefore, if the demand for the GALA crypto remains high, the asset price could advance more from the current level. The next goal for the price is to reach $0.02917.
📬📢However, if the GALA crypto price fails to stay above the $0.02045 level, it could decline further.
🚀📬🚀 China Grants License to Pi Network: Network Ushers in New Era of Billionaires
Breaking news reveals that China has granted a license for Pi Network to operate within the country. This event has created a wave of excitement within the Pi community, with many believing it is a sign of Pi Network's impending explosion and potential to create many new billionaires.
The granted license allows Pi Network to operate in the following areas:
🔸Electronic Remittance: Pi Network will be allowed to provide electronic money transfer services to users within the country. 🔸Commercial (Financial) Payment: Pi Network can be used to pay for goods and services at stores and businesses that accept Pi. 🔸Mutual Funds, Fund Investment, Currency Valuation, Financial Guarantee (Guarantee Service), Trust Management: Pi Network will be allowed to participate in financial and investment activities, including managing mutual funds, investment funds, currency valuation, financial guarantees, and trust management. 🔸ATM Withdrawal: Pi Network users will be able to withdraw cash directly from ATMs using Pi. This licensing is a significant development for Pi Network as it opens up the world's largest market with over 1.4 billion people. Pi Network being allowed to operate in the financial and investment sector also shows the Chinese government's trust in the project.
🚀💫💫 Pi Cryptocurrency: The Decentralized Revolution Is Coming.
Pi cryptocurrency is on track to become one of the leading decentralized cryptocurrencies in the world. It has attracted over 35 million users worldwide and is being developed at a rapid pace.
📌📬 There are several reasons why Pi has the potential to revolutionize the cryptocurrency space. First, it is built on a decentralized platform, meaning it is not controlled by any individual or organization. This helps ensure that Pi is secure and safe, and it cannot be manipulated by any one party.
📌📬 Second, Pi has a strong growing ecosystem. It has an active user community and a team of talented developers. This helps ensure that Pi will continue to develop and innovate in the future.
📌📬 Third, Pi has a number of potential use cases. It can be used to pay for goods and services, send money, and even play games. This helps ensure that Pi can be used in a variety of different industries #pinetwork #btc #Write2Earn
🚀📢 XRP ETF Approval: A Road Paved with Uncertainties
While these developments are intriguing, they’re far from a solid confirmation of an XRP ETF in the works. The road to ETF approval is fraught with regulatory hoops and complex scrutiny, particularly for a currency like XRP that currently lacks a robust futures market. The ongoing legal tussle between the SEC and Ripple only adds to the uncertainty, making the approval of an XRP ETF seem like a distant dream.
Analysts are cautious, pointing out that a spot XRP ETF is unlikely to see the light of day without significant shifts in the regulatory landscape. Townsend Lansing of CoinShares suggests that an XRP ETF might only become feasible if the SEC is compelled to acknowledge XRP as not a security. The current lawsuit’s outcome, where the judge’s ruling differentiated XRP’s status between retail and institutional sales, is a critical factor in this equation.
Scott Johnsson from Van Buren Capital and Max Shannon of CoinShares reflect on the decade-long journey to the approval of a Bitcoin spot ETF, suggesting a similar or even lengthier path for XRP. Bloomberg’s ETF analyst, James Seyffart, echoes this sentiment, calling an XRP ETF a “remote possibility.”
Despite this skepticism, the XRP community remains hopeful. Ripple CEO Brad Garlinghouse’s playful evasion when queried about an XRP ETF at the World Economic Forum and BlackRock CEO Larry Fink’s dismissive smile at a similar question have done little to dampen spirits. Franklin Templeton’s digital asset head, Sandy Kaul, hinted at more crypto ETF filings, further fanning the flames of anticipation.
Yet, the industry’s focus isn’t solely on XRP. The potential approval of spot Ethereum ETFs, with Bloomberg’s Eric Balchunas estimating a 70% chance, is also a hot topic. The fate of XRP ETFs, however, hangs in a delicate balance, dependent on the SEC’s stance post-lawsuit and the establishment of a credible futures market.
The US Securities and Exchange Commission recently issued its approval for a series of spot Bitcoin trading funds, which opens a new era for investment opportunities, reinforces the growing importance of digital currencies in the markets for a wide range of investors, and enhances the growing position of digital assets in traditional wallets.SEC approval and rule changesThe SEC's approval extends to 19b-4 filings filed by prominent financial entities, including ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton.This endorsement represents a critical acknowledgment of rule changes that make it easier for Bitcoin spot ETFs to list and trade on their exchanges. However, not all SEC commissioners were relieved. Here are their most prominent statements that reflect their reactions.The Chairman of the Securities and Exchange Commission, Gary Gensler, affirmed the committee’s commitment to working within a frameworkThe law and respect for judicial interpretations. He also acknowledged the change in circumstances, pointing to a court ruling that reversed the commission's rejection of Grayscale's submission for a proposed spot bitcoin exchange-traded fund.“Circumstances have changed,” Gensler stated, leading to the approval of spot Bitcoin ETPs.Gensler explained that the SEC evaluates rule requests based on their consistency with the Exchange Act and regulations, with an emphasis on investor protection and the public interest. He particularly highlighted that the approval is limited to ETPs that include commodities such as “Bitcoin,” and does not indicate the committee’s willingness to approve digital assets considered securities.
Best Altcoins to Diversify with: Ethereum, Solana, XRP, Sei, Sui
The cryptocurrency market is poised for a major shift with the potential approval of a spot Bitcoin ETF in the United States. This event could unlock about $30 trillion from advised wealth, significantly impacting cryptocurrencies like Ethereum (ETH), Ripple (XRP), Solana (SOL), Cardano, and Shiba Inu. Grayscale CEO expressed optimism about this development, which is expected to attract a broader range of investors, especially those previously hesitant about Bitcoin.
This influx is poised to benefit a range of cryptocurrencies, with Ethereum (ETH), Solana (SOL), Ripple (XRP), Sei (SEI), Sui (SUI), and ScapesMania emerging as the best altcoins for diversification. With these coins in your portfolio, you can diversify away from Bitcoin and unstable altcoins. No matter which way the market swings, these tokens are likely to keep you in the green.