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📉 Bitcoin Down 20% From March But Glassnode Analysts Are Very Bullish: Here’s Why Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic. 🔸 Bitcoin Drops 20% From March High, But Glassnode Is Bullish Glassnode notes that the Bitcoin “macro uptrend still appears to be one of the more resilient in history” and that though corrections have been made, they are relatively shallow. With this position, the blockchain analytics platform confirms that the coin has improved with liquidity rising, reducing volatility.However, for bulls to find support and prices to rally, triggers would be from fundamental factors. Though price action structure might offer support, price catalysts are, as history shows, related to market events. As Glassnode observes, the robust macro trend, bullish for Bitcoin, has tapered volatility, helping maintain the uptrend. The increasingly shallow corrections, as the blockchain analytics platform notes, point to a more mature market backed by more institutions. 🔸 Whales Accumulating As Institutions Eye BTC Confidence remains high. On-chain data reveals that one whale has taken advantage of the relatively low prices and the correction to stack coins. In the last week, the whale bought over 100 BTC, pushing the amount of coins bought this month to over 7,257 BTC. This aggressive accumulation suggests that the whale, even at the current multi-year high, Bitcoin could be undervalued. There could be more Bitcoin tailwinds incoming. For instance, this week, former United States president Donald Trump started accepting crypto donations in the ongoing campaign. This shift of stance has been bullish since Trump dismissed Bitcoin earlier. While this happens, European regulators appear open to approving Bitcoin as an investable asset within Undertakings for Collective Investment in Transferable Securities (UCITS) funds. #BTC $BTC

📉 Bitcoin Down 20% From March But Glassnode Analysts Are Very Bullish: Here’s Why

Bitcoin might have posted the deepest correction since the FTX crash in November 2022, dipping over 20% from its all-time high of around $74,000. However, Glassnode analysts, while sharing their preview on X, remain cautiously optimistic.

🔸 Bitcoin Drops 20% From March High, But Glassnode Is Bullish

Glassnode notes that the Bitcoin “macro uptrend still appears to be one of the more resilient in history” and that though corrections have been made, they are relatively shallow. With this position, the blockchain analytics platform confirms that the coin has improved with liquidity rising, reducing volatility.However, for bulls to find support and prices to rally, triggers would be from fundamental factors. Though price action structure might offer support, price catalysts are, as history shows, related to market events.

As Glassnode observes, the robust macro trend, bullish for Bitcoin, has tapered volatility, helping maintain the uptrend. The increasingly shallow corrections, as the blockchain analytics platform notes, point to a more mature market backed by more institutions.

🔸 Whales Accumulating As Institutions Eye BTC

Confidence remains high. On-chain data reveals that one whale has taken advantage of the relatively low prices and the correction to stack coins.

In the last week, the whale bought over 100 BTC, pushing the amount of coins bought this month to over 7,257 BTC. This aggressive accumulation suggests that the whale, even at the current multi-year high, Bitcoin could be undervalued.

There could be more Bitcoin tailwinds incoming. For instance, this week, former United States president Donald Trump started accepting crypto donations in the ongoing campaign. This shift of stance has been bullish since Trump dismissed Bitcoin earlier.

While this happens, European regulators appear open to approving Bitcoin as an investable asset within Undertakings for Collective Investment in Transferable Securities (UCITS) funds.

#BTC $BTC

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⭐️ Could XRP hit a $3 trillion market cap? Here's when it might happen The cryptocurrency market in 2024 has seen a surge of activity, with significant rallies for major cryptocurrencies, approvals of Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), and the BTC halving event in April. Amid these developments, XRP has garnered substantial attention. Despite being largely absent from the bull run, XRP is generating optimism due to recent legal advancements between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). EGRAG CRYPTO, a noted analyst, recently highlighted a potential major price increase for XRP based on two key patterns: “The White Channel” and the “White Triangle.” As of this writing, XRP trades at $0.5167. In the past 24 hours, XRP has experienced a 0.75% decline, reflecting bearish market sentiment. XRP faces additional scrutiny with the possibility of Ripple selling 400 million XRP in June, marking the largest dump in seven years. This significant sale could impact XRP’s market dynamics and potentially slow down an expected bull rally this cycle. Therefore, investors should consider these factors carefully, recognizing the speculative nature of such predictions and the formidable hurdles that XRP must overcome to achieve unprecedented growth. $XRP #XRP
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📣 NOT, PYTH, ICP, FIL Price Analysis: is Altcoin Season On the Horizon? 🔸 Notcoin (NOT) According to the 4-hour chart, the buy/sell volume revealed that the bury orders remained far above the selling pressure, indicating that NOT’s price could continue rising. Evidence of this was also reflected in the Awesome Oscillator (AO). At press time, the AO reading was positive, and the higher green bars indicated increasing upward momentum. If sustained, NOT’s price could rally to $0.025 in the short term. In addition, the 20 EMA (blue) had crossed over the 50 EMA (yellow). This position, known as the golden cross further validated the bullish prediction. However, traders might need to watch out. If holders of NOT book profits in droves, the prediction could be invalidated and the token’s price might fall to $0.015. 🔸 Pyth Network (PYTH) For PYTH, the Relative Strength Index (RSI) showed that the momentum was bullish. With this indicator reading, the price of the token could be gearing past the resistance at $0.45. A look at the Fibonacci levels showed that the 0.236 level was at $0.40, suggesting that PYTH had held support in this region. On the upside, the 0.786 Fib level was positioned at $0.48. As such, if PYTH crosses the overhead resistance, the price could climb to $0.48. In a highly bullish situation, the token might rise to $0.50. 🔸 Internet Computer (ICP) At press time, ICP’s price was $12.01. This was a notable decrease from the period that the token tried to hit $14. However, indicators showed that ICP could be on its way upward again. First off, the Moving Average Convergence Divergence (MACD) was bullish. This suggests that the momentum around the token could be higher. However, the 12 EMA (blue) needs to rise much higher above the 26 EMA (orange) to validate this prediction. If this happens, then ICP might key into the $13.11 resistance for a start. $NOT $ICP $PYTH #ICP #NOT #PYTH
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⚠️ Solana Co-Founder Touts Open Source as Key to Fair Finance 🔸 Solana's Anatoly Yakovenko discusses open source for fairness in finance, contrasting with Buterin's (BTC) views. SOL co-founder Anatoly Yakovenko recently made a strong case for the company’s potential to revolutionize fairness in finance. Speaking in response to Vitalik Buterin’s comments on Bitcoin’s block size debate, Yakovenko emphasized that Solana’s approach is not about competing with existing currencies or settlement layers but rather enhancing the accessibility and fairness of financial systems through technology. 🔸 Open Source Key to Solana’s Finance Vision The discourse between Yakovenko and Buterin illuminates a broader discussion on blockchain technology’s direction. Buterin, the co-founder of ETH, revisited the contentious (BTC) block size war, pointing out that the initial debate was whether to increase the block size limit to allow more transactions and reduce fees. However, he noted that such changes might centralize the network, which contradicts Bitcoin’s foundational principle of decentralization. He argues that Bitcoin should maintain its edge as a decentralized currency, free from the heavy hand of any central authority. In contrast, Yakovenko believes low latency and high throughput can democratize access to financial services. According to him, Solana’s technology leverages the most affordable hardware to push the boundaries of what decentralized systems can achieve, potentially eliminating many of the inequities in traditional finance. 🔸 Solana Co-Founder Supports Meme Coin Role Raj Gokal, another co-founder of Solana, also entered the fray with his views on meme coins’ role in the cryptocurrency ecosystem. Subtly targeting Buterin, Gokal defended the existence and growth of meme coins by emphasizing their role in the diverse landscape of permissionless systems. He argued that these coins contribute to the ecosystem by attracting different types of users and developers despite the skepticism they face from cryptocurrency purists. $SOL #SOL
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📉 Top DEX Altcoin Uniswap (UNI) Dips in Price After Project Delays Protocol Upgrade Uniswap’s native asset UNI tumbled by about 9% on Friday after the decentralized exchange (DEX) announced that it had decided to punt on an important protocol upgrade. The DEX had planned on initiating an on-chain vote on Friday to implement a proposal that would have enabled a fee mechanism to reward UNI token holders who have staked and delegated their tokens. The upgrade aimed to reduce the burden on Uniswap Governance and to maintain the protocol’s “credible neutrality.” In the past week, however, a stakeholder raised “a new issue relating to this work that requires additional diligence,” according to the Uniswap Foundation. Explains the organization, “Due to the immutable nature and sensitivity of our proposed upgrade, we have made the difficult decision to postpone posting this vote. This was unexpected, and we apologize for the postponement. We will keep the community apprised of any material changes and will update you all once we feel more certain about future timeframes.” Uniswap is the top DEX in terms of 24-hour trading volume and monthly visits, according to CoinGecko. Following the news, UNI dropped from $11.04 to $9.86. The altcoin is hovering close to its 24-hour lows and is trading at $9.93 at time of writing. #UNISWAP #UNI $UNI
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⚠️ Promising AI Coins Set to Become the Next Big Thing in Crypto The crypto bull run of 2024 has arrived, bringing renewed interest in innovative coins. Some AI-driven currencies are gaining traction and are poised to make significant impacts. This article dives into a few of these promising projects that could transform the market. Readers eager to get ahead should read on to discover which AI coins are set to shine. 🔸 ICP Experiencing Mixed Market Sentiment with Long-term Growth Potential The market shows mixed sentiment for Internet Computer. Though short-term changes are negative, significant growth over the past six months is notable. The current price is close to both support and resistance levels, making a breakout possible. With steady adoption and technological potential, ICP might attract more interest. The price movements indicate cautious market behavior but long-term prospects remain resilient. 🔸 Positive Market Sentiment for Render Despite Mixed Signals Render’s market sentiment shows optimism. The data reflect a gradual rise, supported by recent price jumps over a month and six months. Despite slight drops this week, the averages and indicators suggest stability. Render’s innovative rendering services offer real-world utility, enhancing trust among investors. This could push prices higher in the near term. 🔸 Conclusion ICP and RNDR, among others, show less promise in the short term. The focus shifts to CYBRO, a unique earn marketplace on the Blast blockchain. With its first release planned for Q2 2024, it presents a compelling opportunity. Early investors can benefit by joining the CYBRO token presale and entering the project on favorable terms. $ICP $RNDR #ICP #RNDR
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