**Bitcoin Buyers Buzz as Fed Hints at Rate Cuts 📈**
- Bitcoin interest in the US hit a 39-day high after the Fed hinted at lower interest rates.
- CryptoQuant's Julio Moreno noted the spike in Bitcoin's Coinbase Premium Index, a sign of US investor demand.
- The index reached its highest point since July 15, signaling strong buying pressure.
- Fed Chair Jerome Powell hinted at rate cuts but kept the timeline vague.
- Bitcoin's price surged to $64,769, its highest since Aug. 2, before settling at $63,978.
- Market analysts are optimistic, despite recent concerns over mining costs and potential sell-offs.
🚀 Bitcoin Buzz! 🚀
Hold onto your hats, crypto enthusiasts! Bitcoin buyer interest in the US has hit a 39-day high, thanks to the Fed hinting at lower interest rates. 📉
- On Aug. 23, Bitcoin’s Coinbase Premium Index spiked to its highest point since July 15.
- This index measures the gap between Bitcoin’s price on Coinbase Pro and Binance, indicating US investor demand.
Fed Chair Jerome Powell teased interest rate cuts but kept us guessing on the timeline. Meanwhile, Bitcoin flirted with $65K, reaching $64,769—its highest since Aug. 2.
Is this the start of a bull run? Share your thoughts below! 💬
Analyst Predicts Cardano Explosion to $8, When
Recently, Cardano has been predicted to rise, particularly after the Chang update. One of the network's most significant updates in a while has boosted supporters' hope. Additionally, crypto researcher Alan Santana anticipates a huge increase for the altcoin's price to new all-time highs.
Cardano Cycle Position
Last three years, Cardano has witnessed bullish and bearish cycles, but the bears seem to have triumphed. The ADA price has been mostly down since 2021, when it reached its all-time high of $3.10. Although this would ordinarily deter investors, crypto expert Alan Santana notes it in his positive research.
The crypto expert said Cardano was in a bear market between its all-time high until 2023, when it started rising. A consolidation period from 2023 to 2023 followed.
After consolidation, the ADA price rose in 2024. This raised its price from $0.24 to $0.79. Santana calls this the “initial bullish breakout.” The expert calls this era the “entree or appetizer before the major bull-market.” This suggests that if the analyst is accurate, this early breakthrough is only a prelude.
Since its local top of $0.79, Cardano has dropped 50% of its value, worrying investors. The crypto expert considers this a “minor correction” that won't matter throughout the bull cycle.
How High Can ADA Prices Go?
Santana expects Cardano to bottom at $0.22, according to his research. After the dip, a rally should boost the price upward. From this, short- and long-term objectives emerge.
Short-term goals are 284.5% to $1.36 and 475.39% to $2. However, the crypto researcher forecasts far more spectacular ADA price increases over time. Two stand out: One is a 1,272.18% rise to $4.8, a record. One of the biggest rallies is 2,200% to $8.
#Cardano #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek $ADA
{spot}(ADAUSDT)
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🚨$PEPE Exhibits Bullish Signal Poised to Break Resistance🚨
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PEPE is displaying promising indicators that suggest a potential breakout above its current resistance level. Recent developments have contributed to this optimistic outlook:
- Breakout from Descending Channel: PEPE has successfully emerged from a descending channel, demonstrating a significant shift in market sentiment.
- Upbit Listing: Following its listing on the Upbit exchange, PEPE experienced an 11% surge, further fueling its upward momentum.
- Approaching 20-day EMA: Technical indicators reveal that PEPE is closing in on its 20-day exponential moving average (EMA), a key benchmark that may confirm an upward trend.
- Uptrend Since February: Technical analysis highlights PEPE's consistent uptrend since February, marked by successful breaks through both horizontal and diagonal resistance levels.
If PEPE continues on its current trajectory, there is a strong possibility of further gains. Investors and traders are advised to closely monitor the coin's performance and adjust their strategies accordingly.
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PEPE Coin: Volatility Continues, Investors Weigh Risks and Rewards 🤔
_PEPE Coin's Wild Ride 🎢_
PEPE coin has experienced significant volatility recently, leaving investors wondering about its future performance 🤔. After a 19.67% surge fueled by large purchases from a venture capitalist 💸, the coin is now facing resistance at key price levels 📊. This comes after a period of decline, where PEPE struggled to maintain its value 📉.
_Investor Sentiment 🤝_
Despite the uncertainty, investor sentiment remains robust, with some analysts predicting further gains if PEPE can break through its current resistance 💪. However, others are cautious about potential downward pressure if the coin fails to sustain its momentum ⚠️.
_Risk Tolerance is Key 🔑_
Given the current situation, the decision to buy or hold PEPE depends on your risk tolerance 🤔. If you're comfortable with volatility and believe in the long-term potential of the coin, holding might be the best strategy 💪. However, if you're looking for more immediate gains or concerned about potential dips, it might be wise to wait and see how the market trends over the next few days 📊.
{spot}(PEPEUSDT)
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Bitcoin Transaction Fees Surge 937.7% in 24 Hours
On August 22, Bitcoin transaction fees jumped 937.7%, from $0.74 to $7.679, due to increased network demand.
Previously, fees had been stable, mostly under $2. Low fees benefit users but can reduce miner revenue.
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Bullish Outlook for $FET: Potential Uptrend on the Horizon🤯💥📈
_$FET Surges, Hints at Uptrend_
A recent surge in $FET's price suggests a potential uptrend, but confirmation is needed through a five-wave move up. The third wave must reach $1.25-$1.26, followed by a pullback and a final wave targeting $1.35-$1.43. A drop below $0.52 could undermine the bullish case.
_Key Levels to Watch_
- $1.25-$1.26: Third wave target
- $1.35-$1.43: Potential final wave move
- $0.52: Key support level
- $1.15: Stop Loss level
_Trading Setup_
- Buy Point (BP): $1.25
- Take Profit (TP): $1.35-$1.43
- Stop Loss (SL): $1.15
This setup assumes the third wave reaches $1.25, confirming the uptrend. The TP range targets the potential final wave move, while the SL limits downside risk. A corrective pullback will be crucial in determining if one more high is likely.
{spot}(FETUSDT)
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$BTC Is it time for Avalanche (AVAX) price to turn bullish?
Avalanche price gained 16%+ in the last week, but are positive media headlines enough to sustain the AVAX.
After spending nearly six months in a downtrend, AVAX price looks to be in the early stages of a trend reversal. On Aug. 5, it traded at $17.29, its lowest price in nine months. Over the past two weeks, the altcoin has reversed course with a 45% gain to $25.25.
While AVAX’s flash crash under $18 was mirrored by most altcoins which also sharply sold off during Bitcoin’s
BTC
$63,838
Aug. 18 correction to $49,500,
AVAX
$26.25
has been a laggard versus the wider market since topping out at $65 on March. 18.
Positive news could be partially responsible for the recent uptick in the AVAX price. This week, AVAX investors zoomed in on the Avalanche token unlock schedule and noted that a sharp reduction in the number of token unlock events occurs after the end of 2024. Many investors believe that token unlocks generate sell pressure and deter the various types of long-term ecosystem development that support value accretion to the token.
On Aug. 22, asset manager Grayscale Investments also announced the launch of a new investment fund for AVAX, the “Grayscale Avalanche Trust,” which gives investors exposure to the networks.
#BecomeCreator
On the same day, global asset management firm Franklin Templeton also expanded its Franklin Onchain US Government Money Fund to the Avalanche network. As reported by Cointelegraph, “The fund, which launched in 2021, allows institutional investors access to Franklin Templeton’s blockchain-integrated record-keeping system, Benji Investments
$ETH
While the token unlocks and Grayscale Investments and Franklin Templeton news are not necessarily fundamentals-based developments directly related to AVAX, the boost in positive sentiment could be influencing investors' feelings about the altcoin’s price prospects
From the price action perspective, AVAX’s price surge is aligned with the Grayscale announcement and an uptick in liquidations.
Bitcoin 4-Hour Analysis: Key Insights for Newcomers (August 24, 2024)
Resistance Level:
Bitcoin is approaching a critical resistance level around $64,000 USDT. This is the point where the upward movement might stall unless we see a surge in buyer activity. If BTC struggles to break through, a price correction could be on the horizon.
Support Level:
On the downside, strong support lies near $62,000 USDT. Should BTC drop below this level, it may find solid ground here, preventing further decline.
RSI Indicator:
The RSI is hovering around 60, signaling a neutral to bullish stance. However, if it crosses 70, BTC could enter the overbought zone, increasing the likelihood of a price reversal.
MACD Indicator:
The MACD is showing a bullish crossover with the blue line above the orange, and the histogram is green. This indicates that the upward momentum is gaining strength.
Volume Trends:
Recent volume bars suggest an increase in trading activity, which is supporting the bullish movement. Keep an eye on volume spikes for further confirmation.
Fundamental News:
Positive market sentiment is being driven by growing institutional interest and regulatory clarity in certain regions. With no significant FUD (Fear, Uncertainty, Doubt) in sight, the market outlook remains optimistic.
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Solana TVL hits near 1-year high — Will SOL price follow?
The total value locked on Solana surged but is this enough to send SOL price to a new all-time high?
{spot}(SOLUSDT)
Solana’s native token, SOL
SOL
$153
, has been unable to break above the $150 resistance level since Aug. 12. However, some network metrics have shown strength, including the total deposits in its decentralized applications, which have surged to their highest level since October 2022. Traders are now questioning whether these improvements in network fundamentals are sufficient to drive SOL’s price back to $190 and what factors may be hindering its performance.
#BecomeCreator
Diminished prospects of Solana spot ETF in the US
One reason for the lack of enthusiasm among investors stems from Cboe Global Markets' recent decision to remove the 19b-4 forms for Solana spot exchange-traded funds (ETFs) from its website on Aug. 16. Some market participants, including finance lawyer Scott Johnsson, suggest that the United States Securities and Exchange Commission has informally rejected the Solana ETF, consistent with Chair Gary Gensler’s earlier stance.
Eric Balchunas, a senior ETF analyst at Bloomberg, shares a similar view, noting that while the S-1 filings from the ETF issuers remain active, the chances of approval are slim, with the only hope being a change in the current SEC administration should Donald Trump win the US presidential election. As a result, investor optimism regarding the potential launch of a spot Solana ETF has diminished, reducing the immediate impact of Solana’s network.
$SOL
Crypto trader and investor CoinMamba, for example, believes Solana’s appeal has waned as Ethereum’s average fees have dropped to around $1 for the first time since July 2020, while other blockchains are gaining traction with memecoin launches, a significant driver of demand for SOL
CoinMamba also suggests that Solana needs to “find a new narrative,” indicating that the outlook for SOL’s price appreciation depends on exploring new niches and discovering decentralized.
🚨 Breaking News: Malaysian Police Crush Bitcoin Mining Rigs! 🚨
In a dramatic move, Malaysian authorities have destroyed 985 Bitcoin mining rigs worth $452,500 as part of a crackdown on illegal crypto operations. 🚜💥 The rigs were seized during raids targeting miners who were stealing electricity—a practice that cost Malaysia a staggering $722 million between 2018 and 2023.
The Perak Tengah District Police chief confirmed that the destruction was court-ordered, and the raids led to multiple arrests. ⚖️👮♂️ Among the confiscated items were 52 mining rigs, laptops, mobile phones, and vehicles.
While this highlights the ongoing battle against illegal mining, it also underscores the growing pains of Bitcoin's journey to mainstream acceptance. 🌍💡
Stay tuned, BTC enthusiasts! 🚀
BAKE is the native cryptocurrency of the BakerySwap platform, a decentralized exchange (DEX) and automated market maker (AMM) on the Binance Smart Chain. Here are some key points about BAKE:$BAKE
_Key Features:_
1. _Decentralized exchange (DEX)_: BAKE enables decentralized trading on the BakerySwap platform.
2. _Automated market maker (AMM)_: BAKE uses an AMM model to provide liquidity and facilitate trades.
3. _Decentralized governance_: BAKE holders can participate in voting and decision-making processes.
4. _Limited supply_: The total supply of BAKE coins is capped at 710,000,000 tokens.
_Use Cases:_
1. _Trading fees_: BAKE is used to pay fees for trading on the BakerySwap platform.
2. _Liquidity provision_: BAKE is used to incentivize liquidity providers on the platform.
3. _Governance voting_: BAKE is used for voting on proposals and decision-making processes.
4. _Staking rewards_: BAKE can be staked to earn rewards and contribute to network security.
_Benefits:_
1. _Decentralized trading and liquidity provision_
2. _Decentralized governance and voting rights_
3. _Staking rewards_
4. _Utility token with various use cases_
BakerySwap aims to provide a fast, secure, and decentralized trading experience, with BAKE playing a central role in the platform's ecosystem.
Please note that the information available on BAKE coin is subject to change, and it's essential to stay up-to-date with market