🎯🎯🎯 Bitcoin Price Predictions by AI based on last 13 years price action data: 🔥🔥🔥

Short-term (by end of 2023): 🤏
- Bitcoin to rise from $30,000 to $40,000.
- Factors: Institutional accumulation, positive ecosystem developments, limited downside.

Short-term (early 2024): 🔼
- Bitcoin to reach $50,000-$60,000 pre-halving in April 2024.
- Factors: Halving anticipation, retail investor demand, potential short squeeze.

Medium-term (around 2025): 👀🐮
- Bitcoin ATH $100,000-$150,000.
- Factors: Institutional adoption rising, new products and services development, supportive regulatory clarity, Bitcoin's scarcity, macroeconomic turmoil hedging.

Long-term (post-ATH, possibly end of 2025): 🐻
- Bitcoin to consolidate around $40,000-$50,000.
- Factors: Profit-taking by some investors, increased miner selling, cautious investor attitude.

What you think, let me know in the comments... 🔥🔥😍😍😍

**Remember, this is a prediction and not financial advice. Actual Bitcoin prices may vary due to various factors.

$BTC #CryptoTalks #crypto #BinanceSquare #BinanceTournament

🐕🐾🔥 Shiba Inu: $100 to $1.6 Billions

If you had invested $100 in Shiba Inu at its first opening price and sold it at its all-time high, you would have made over $1.6 billion.👀👀👀

Shiba Inu was launched in August 2020 with an initial price of $0.000000000056. If you had invested $100 at that time, you would have purchased 1.8 trillion #SHIB tokens.
The price of SHIB reached its all-time high of $0.00008845 in October 2021. If you had sold your SHIB tokens at this time, you would have made over $1.6 billion.🚀🚀🚀

This is a staggering return on investment, and it is a testament to the volatility of the cryptocurrency market. However, it is important to note that past performance is not indicative of future results. It is also important to remember that investing in #cryptocurrency is a risky investment, and you should only invest money that you can afford to lose.🔥🔥🔥

Here is a table that summarizes your investment:🐮🐮🐮

Investment Purchase price Sale price Profit
$100 in SHIB $0.000000000056 $0.00008845 $1.6 billion

Please note that this is a hypothetical calculation, and it is not guaranteed that you would have made this much profit if you had actually invested in $SHIB

#crypto #BinanceSquare #TrendingTopic

💥💥💥 #bitcoin Price Falters: Another Downturn In Crypto Prices

Bitcoin's price failed to sustain above the $68,500 support zone, leading to further losses and bearish signals below $68,800.

Bitcoin's Decline

- Initial Surge and Drop: Bitcoin attempted to rise above the $69,500 resistance, briefly breaking $70,000, but couldn't maintain gains. The price peaked at $70,142 before starting a fresh decline.

- Support Levels Breached: It fell below key support levels at $69,500 and $68,500, reaching a low of $67,920. The price is now consolidating near the 23.6% Fib retracement level from the $70,142 high to the $67,920 low.

Current Trading Position

- Below Key Averages: Bitcoin is trading below $69,500 and the 100-hour Simple Moving Average.

- Resistance Levels: Immediate resistance is around $68,800, with significant resistance at $69,000 (50% Fib retracement level of the recent decline) and $69,500, where a bearish trend line is forming on the hourly chart.

- Potential Upside: A clear move above $69,500 could push the price to test the $70,000 level, and further gains might target $71,200.

Potential for Further Declines

- Failure to Rise: If Bitcoin doesn't climb above the $69,500 resistance, another decline may start.

- Support Levels: Immediate support is near $68,000, with major support at $67,650 and $67,500. Continued losses could drive the price toward $66,400.

Technical Indicators

- MACD: Gaining momentum in the #BEARISH📉 zone.

- RSI: Below the 50 level for BTC/USD.

Summary

- Support Zones: $68,000, $67,500.

- Resistance Zones: $69,000, $69,500.

Bitcoin's failure to stay above critical support levels has led to further losses. Resistance is around $68,800 and $69,500. If these are not surpassed, the price could decline to $68,000, $67,500, or even $66,400. Technical indicators highlight this bearish trend, stressing the need to break significant resistance to reverse it.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareBTC #cryptocurrency

#Ethereum Price Downward Drift: Decline Resumes Again

Ethereum struggled to surpass the $3,720 resistance, leading to another decline and raising concerns about potential losses below the critical $3,550 support.

After briefly surging above $3,700, Ethereum faced resistance and dropped below $3,650 and the 100-hourly Simple Moving Average. A significant #BEARISH📉 trend line is forming with resistance around $3,680 on the hourly chart of ETH/USD.

If Ethereum fails to breach the $3,650 resistance, downside movement may continue towards initial support near $3,550, followed by the critical $3,520 zone and $3,500. Further declines could target $3,320 and $3,250.

Key resistance levels include $3,640, $3,680, and $3,720. Surpassing these levels might lead to further upward movement towards $3,750, $3,800, and $3,880.

Technical indicators show increased bearish momentum, with the MACD indicating downside pressure and the RSI below the 50 zone.

- Key Support: $3,550

- Key Resistance: $3,650

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

👉👉👉 #BLUM Community in #Telegram Becomes Fourth Largest in the World by Number of Subscribers

Blum, hailed as one of the most promising and talked-about crypto projects, has achieved yet another significant milestone in its social media journey. Recent reports reveal that the Blum community on Telegram has surpassed 9.8 million subscribers and is swiftly approaching the 10 million mark.

According to Blum enthusiasts themselves, this remarkable figure has positioned them as the fourth-largest community on Telegram based on subscriber count. Notably, Blum also extends its reach with 19 additional communities in various languages.

The widespread popularity of Blum is undeniable, with the project spearheaded by former Binance executives in Russia and the CIS, Gleb Kostarev and Vladimir Smerkis, being regarded as one of this year's most hyped ventures.

As per the founders' vision, Blum is poised to revolutionize cryptocurrency trading by offering users an entirely new and seamless experience. Notably, Blum has secured its spot among the most promising projects on the latest Binance Launchpad. Currently, Blum is actively attracting new users through a highly publicized farming program.

Users have the opportunity to expand their referral network by inviting contacts, thereby earning rewards. However, it's important to note that accumulating points through the referral network is just one of the many ways users can earn rewards. By simply launching the Blum app daily and completing tasks, users can unlock additional rewards.

Source - cryptonews.net

#BinanceSquareTalks

💥💥💥 World's largest bank #ICBC praises the evolution of #bitcoin , #Ethereum as innovative financial assets

The Industrial and Commercial Bank of China (ICBC), the world’s largest lender, recently published a detailed analysis on the evolution and diversity of digital currencies. Here are the key insights from the report:

Bitcoin: The New Gold

- ICBC likens Bitcoin to gold due to its scarcity achieved through a mathematical consensus mechanism. Despite diminishing monetary attributes, Bitcoin's value as an asset is solidifying due to its divisibility, authenticity verification, and portability.

Ethereum: Digital Oil

- The report describes Ethereum as "digital oil," crucial for driving the digital future. Its Turing-complete language, Solidity, and EVM enable complex smart contracts and decentralized apps, vital for DeFi and NFTs. Challenges include security flaws, scalability issues, and high energy usage. Ethereum 2.0 upgrade, with PoS and sharding, aims to enhance sustainability and throughput. Layer 2 solutions like state channels and rollups are also being explored for scalability.

#Stablecoins and CBDCs: Bridging Digital and Traditional Finance

- Stablecoins, pegged to fiat currencies, offer stability in crypto markets, aiding transactions and serving as a reliable store of value. They're key for integrating digital currencies into the global financial system. Central Bank Digital Currencies (CBDCs) digitize fiat, potentially boosting payment efficiency, cutting costs, and enhancing monetary policy. CBDCs could simplify cross-border transactions, reduce intermediary reliance, and foster financial inclusion, but require thoughtful handling of privacy, security, and regulatory issues.

Conclusion

ICBC concludes that digital currencies, with diverse visions, target enhancing financial inclusion, security, and payment efficiency. Balancing sustainability, security, and efficiency is crucial for fostering their widespread adoption and innovation in the financial ecosystem.

Source - cryptoslate.com

#BinanceSquareTalks

🔥🔥🔥 #bitcoin Economist Reveals Year-End Forecast for $BTC Price

Economist Timothy Peterson recently analyzed Bitcoin's difficulty growth rate and suggested that BTC's price could potentially reach $100,000 by the end of the year.

Bitcoin's difficulty rating measures the challenge of mining a new block on the #Blockchain . This rating adjusts every two weeks to maintain a consistent block addition rate of approximately every 10 minutes. The difficulty increases with more miners and computing power and decreases when miners leave the network. Bitcoin's decentralized system and automatic, transparent difficulty adjustments prevent any entity from manipulating the difficulty rating.

Peterson asserts that there is a strong correlation between Bitcoin's difficulty and its price. As mining difficulty increases, the energy cost per mined Bitcoin also rises, prompting miners to balance their electricity and hardware expenses against potential rewards. When Bitcoin prices are high, these costs become manageable, making mining profitable despite increased difficulty. Conversely, a drop in Bitcoin's price can force some miners to exit the network, leading to a decrease in computational power and difficulty.

Peterson highlights a feedback loop between Bitcoin's price and difficulty. Higher prices attract more miners, increasing difficulty, which in turn can support higher prices. Increased difficulty and the associated costs drive miners to become more efficient, further supporting higher prices as the network strengthens. This creates a market equilibrium where energy costs are balanced by Bitcoin's price.

Given these dynamics and current trends, Peterson predicts a reasonable year-end price range for Bitcoin between $60,000 & $90,000. A high difficulty level indicates robust network security, which supports higher prices, while energy costs provide a price floor. However, factors like increased adoption and positive market sentiment could potentially push the price even higher, towards $100,000.

*This is not investment advice.

Source - en.bitcoinsistemi.com

💥💥💥 How $100 Weekly Investments in #shibaInu Reached $641 Million

Shiba Inu, introduced in August 2020, has become a prominent #cryptocurrency investment, captivating both new and seasoned investors. Its rapid rise in just over a year highlights the volatility of the crypto market. Investors who recognized its potential early on have seen significant returns, showcasing the benefits of consistent investing.

Investing $100 weekly from August 2020 to the present would have turned into $641.78 million, boasting a growth rate of approximately 3,241,253%. Alternatively, investing until its all-time high in October 2021 would have yielded $1.239 billion, with a growth rate of 19,064,676%.

Currently, Shiba Inu is experiencing a resurgence, with an 8.43% price increase in the last 24 hours, reclaiming the $0.00025 price level. Trading at $0.00002577, it has surpassed the 50-day exponential moving average. While there was a minor setback of 7.36% over the past week, the monthly increase stands at an impressive 3.85%. Additionally, the 24-hour trading volume surged by 38.05% to $891,844,698.

Despite recent fluctuations, analysts predict a significant rebound for Shiba Inu. William, a renowned Bitcoin expert, forecasts a surge in SHIB's value to $0.05, reflecting an extraordinary increase of 193,774%.

Source - thecryptobasic.com

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

🔥🔥🔥 Analyst Predicts Next $XRP 41% Surge Could Lead to “Legendary” Upside

An analyst has highlighted XRP's potential for a significant price increase amid its struggles around the $0.50 level. Despite underperformance, XRP has drawn attention due to ambitious price forecasts. Market observers suggest that XRP might mimic its 2017 pattern before a major surge.

Potential 41% Price Increase

- EGRAG, a chartist, predicts a 41% rise for XRP, potentially paving the way for a larger rally and crucial breakout. This forecast is based on historical data from 2017 when XRP saw a 41% increase before surging to an all-time high of $3.30 by January 2018. EGRAG's analysis indicates XRP is currently trading within a symmetrical triangle similar to that in 2017, suggesting a possible uptrend following the initial increase.

XRP Could Target $27

- EGRAG's analysis suggests XRP could achieve a $27 price target, aligning with the Fibonacci 1.618 level. The path involves breaching three key Fibonacci resistance levels: Fib. 1 ($3.31), Fib. 1.236 ($7.36), and Fib. 1.414 ($13.50). He advises a Dollar-Sell-Average strategy, allowing investors to systematically sell portions of their holdings as prices rise, due to the unpredictable nature of price movements.

Near-Term Momentum and Bullish Signals

- EGRAG also highlighted XRP's near-term momentum, pointing to a significant bullish signal from the previous month—a 75% Inverted Hammer formation often indicating an impending upward trend. He predicts XRP's price could reach $0.75 in the near term and suggests that July 2024 might be a pivotal month for substantial price movements. Currently, XRP is trading at $0.4961, struggling to maintain support at $0.50.

In summary, XRP shows potential for significant gains based on historical patterns and current analysis, with both short-term and long-term bullish signals suggesting possible price increases.

Source - thecryptobasic.com

#cryptocurrency #CryptoTrends2024 #BinanceSquareTalks #XRPPredictions

💥💥💥 #Layer2 #zkSync Token #Airdrop‬ May Be Launched Tomorrow

Key Points:

- zkSync announced a pre-game event starting tomorrow, sparking rumors of a token airdrop.

- The zkSync token airdrop, expected this month, faces a ticker controversy with Polyhedra Network.

- zkSync released the v24 upgrade, improving security and functionality for its Ethereum Layer 2 solution.

Anticipated zkSync Token Airdrop

- The #Ethereum Layer 2 network, zkSync, has unveiled a pre-game event beginning tomorrow, fueling speculation about a forthcoming token airdrop. Announced on platform X, zkSync encouraged users to enable notifications and follow the community account ZK Nation, dedicated to the protocol’s development and protection. Although specific details about the event are yet to be disclosed, the community is eagerly awaiting more information.

Airdrop Expectations and Ticker Controversy

- The community is buzzing with anticipation for the zkSync token airdrop, expected to be officially announced this month, with a total supply of 21 billion tokens. However, the choice of ticker symbol for the token has stirred some controversy. zkSync plans to use the ticker ‘ZK,’ which has already been claimed by Polyhedra Network. Despite this, zkSync may still proceed with the ZK ticker, noting that Binance has yet to list Polyhedra’s token.

- Prominent figures in the ZK proof ecosystem, including Shafi Goldwasser, Silvio Micali, Sandeep Nailwal, Brendan Farmer, and Eli Ben-Sasson, have collectively criticized zkSync’s attempt to use the ZK ticker. After extensive discussions, Matter Labs, the company behind zkSync, has decided to withdraw all trademark applications for the term ‘ZK.’

v24 Upgrade Enhancements

- In addition to the upcoming event, zkSync recently completed the v24 upgrade of its zkSync Era software on the mainnet. This latest release introduces several enhancements aimed at boosting security and functionality for the Ethereum Layer 2 scaling solution.

Source - coincu.com

#BinanceSquareTalks

🔥🔥🔥 #cardano prepares for Voltaire era with Node 9.0 launch

Cardano's founder, Charles Hoskinson, has announced that the release of Cardano Node 9.0 is anticipated for June, setting the stage for the Chang hard fork and ushering in the Voltaire Age.

In a recent post on X, Hoskinson stated, "It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire."

The Chang hard fork represents a major milestone for Cardano, transitioning the blockchain into a new era of decentralized governance. Hoskinson expressed his vision for Cardano's future: "Cardano will be a decentralized civilization spanning the entire world with millions of residents. We’ll have the most advanced #Blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us."

The Voltaire Age will introduce a governance system that empowers the community to engage in decision-making processes. Initially, governance features will be implemented as per CIP 1694, laying the groundwork for #Decentralized voting. The subsequent phase will enhance these features, allowing for proxy participation and treasury withdrawals, thus enabling the community to propose and fund projects within the Cardano ecosystem.

Ahead of the Chang hard fork, Cardano released node version 8.9.2, addressing a critical issue in the peer-sharing networking feature, thereby bolstering the platform’s peer-to-peer networking capabilities.

Cardano's native token, ADA, stands to gain from this significant upgrade. At the time of writing, ADA is trading at $0.441 and ranks among the top ten crypto assets by market capitalization, according to CoinGecko’s data.

Source - cryptobriefing.com

#CryptoTrends2024 #BinanceSquareTalks

👉👉👉 Impact of shifting SEC policy on $ETH ‘yet to be seen’ — Consensys SC

Bill Hughes, senior counsel at Consensys, discussed the firm's lawsuit against the SEC and the potential impact of political changes on crypto regulations at the Consensus 2024 conference.

Hughes highlighted uncertainties around how the evolving political landscape might influence Consensys' case against the SEC over Ether (ETH). Recent legislative progress, spot Ether ETF approvals, and digital assets becoming key issues for presidential candidates mark significant developments. He viewed the approval of spot Ether #ETFs as a positive step, though its impact on SEC investigations remains unclear.

In April, Consensys sued the SEC, alleging plans to regulate ETH as a security following a Wells notice about #Metamask Swaps and Staking products. The lawsuit came before the SEC's approval of filings to list and trade spot Ether ETFs, suggesting ETH's recognition as a commodity.

Hughes questioned how political changes might affect SEC decisions, expressing doubts about major regulatory shifts. He suggested the approval of spot Ether ETFs might be the only favorable action from the SEC for crypto.

The U.S. Senate is set to consider the Financial Innovation and Technology for the 21st Century Act (FIT21), aiming to clarify the SEC's role over digital assets and provide the Commodity Futures Trading Commission (#CFTC ) a framework for regulating tokens as commodities.

Hughes speculated on internal SEC politics driving policy decisions, with external pressures potentially influencing outcomes. Chair Gensler indicated that the SEC would take time to approve S-1 registration statements for spot Ether ETFs, with ETF analyst Eric Balchunas predicting a July 4 launch.

In summary, political and regulatory changes continue to influence Consensys' lawsuit against the SEC and the broader crypto regulatory environment.

Source - cointelegraph.com

#CryptoTrends2024

🔥🔥🔥 Is #Ethereum (ETH) Going to Lose $4,000? #Solana⁩ at $170: Was It Fakeout? $XRP Remains Stable

Ethereum appears to be facing challenges near the $4,000 mark, showing a lack of momentum to surpass or even reach this level. Currently, Ethereum is trading within a tightening range, typically indicative of consolidation preceding a potential breakout. Key levels to monitor are approximately $3,900 as resistance and $3,626 as support.

The $3,626 support level has been tested repeatedly, with bullish momentum requiring a decisive breakthrough of the $3,900 resistance. Low trading volumes suggest limited buying pressure. Ethereum's RSI at 65.88 reflects a neutral stance. A breach of $3,626 could lead to a drop towards the 50-day moving average at $3,298, while surpassing $3,900 might drive Ethereum towards $4,000 and beyond.

Solana Nears $170

Solana is approaching the $170 threshold, potentially aiming to surpass it soon. Currently, Solana is trading within a narrow range, with $165.84 serving as immediate support after retracting from $170. Key support levels to monitor are $156.52 and $151.66, historically significant for providing support.

If Solana maintains support above $165.84, it might attempt another push towards $170. However, breaking below $156.52 could indicate a bearish trend, possibly leading to a decline towards $150 or lower.

XRP Exhibits Stability

XRP has demonstrated remarkable stability lately, consistently hovering around $0.52. Currently in a consolidation phase, XRP maintains the $0.50 support level, while resistance levels stand at approximately $0.55 and $0.57.

The moving averages offer additional insights, with the 50-day acting as support and the 200-day and 100-day serving as resistance levels. Consistent trading volumes indicate sustained interest, while the RSI at 51.89 suggests a relatively stable market.

A break above the $0.55 resistance level could propel XRP towards $0.57 and higher, while a drop below $0.50 may indicate a bearish trend.

Source - u.toda

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

💥💥💥 #CryptoMarket tumble seen as quick shakeout, traders expect 'bullish' rebound

Bitcoin ($BTC ), Ether ($ETH ), and the wider altcoin market faced a downturn post the release of robust U.S. employment data on June 7. This unexpected turn was viewed by traders as a temporary "shakeout" before resuming the upward trend.

Pseudonymous crypto trader il Capo of Crypto noted on June 7 a "strong sell-off into support," especially impacting altcoins, interpreting it as a market shakeout, where simultaneous selling occurs due to uncertainty.

The U.S. Employment Situation Summary Report revealed higher-than-expected job growth, contrary to analysts' predictions, potentially affecting decisions on inflation and Bitcoin's trajectory.

Markus Thielen, head of research at 10x Research, speculated that a weaker report could prompt rate cuts, while attention turns to the upcoming CPI inflation report.

Despite the unexpected data, Thielen suggested the employment report didn't directly trigger the crypto market drop, describing the data as "mixed," with an increase in part-time workers.

Traders are monitoring key support levels, with il Capo of Crypto suggesting a bullish continuation if these levels hold. Bitcoin dipped 1.99%, Ether 3.22%, and altcoins suffered more significant losses, like Pepe ($PEPE ) dropping 10.54%.

Other traders saw the downturn as a buying opportunity, expressing optimism about the market's long-term prospects. They view the recent dip as a precursor to a real bullish phase, indicating readiness to buy the dips for a potential quick turnaround trade.

Despite the market's reaction to the employment data, many traders anticipate a bullish continuation once the current shakeout stabilizes.

Source - cointelegraph.com

👉👉👉 Is A #bitcoin Crash Below $50,000 Still Possible? Crypto Analyst Shares The Possibilities

Bitcoin's price has stalled after reaching the $71,000 mark, lingering in a state of indecision. Such periods often precede a significant move, but predicting the direction is challenging. Crypto analyst Alan Santana has examined the Bitcoin chart to provide insight into its potential trajectory.

Bitcoin Could Be Headed Downward

- Alan Santana’s analysis reviews Bitcoin's performance over the past year to forecast future movements. According to Santana, Bitcoin has been in a bullish wave for over a year—479 days to be exact—since November 2022 through March 2024.

- Persistent bullish waves often lead to anticipated downturns as investors sell off holdings. Santana notes bearish waves typically move faster than bullish ones. After a 16-month bullish wave, the following bearish wave could unfold 2 to 2.5 times faster.

- Santana elaborates: “When the market is rising, people are buying gradually, building up positions & enjoying profits as everything grows. This is not the case when the market turns.”
He adds, “When a correction happens, people either prepare in advance or sell when they realize that the upward potential has been exhausted. Instead of gradually building a position, when the majority realizes the wave is over, they tend to close their entire positions quickly, accelerating the downward movement.”

Potential Bitcoin Price Movements

- Santana anticipates a sharp Bitcoin crash, impacting the broader market. He predicts an initial drop from $71,000 to $60,000, followed by further decline.

- At the bottom of this bearish wave, Santana suggests Bitcoin could reach $47,943. This implies a potential crash of approximately 33%, signaling a highly bearish period for the market.

In summary, Santana’s analysis suggests that Bitcoin could be poised for a significant downturn after its prolonged bullish run, with potential cascading effects on the wider #cryptocurrency market.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareBTC

🔥🔥🔥 #Chainlink Chain Reaction: Analyst Sets Sights On $33 Target

Chainlink (LINK), the oracle network driving decentralized applications (#dApps ), is on an upward trajectory with analysts predicting a potential price surge to $33. Currently, LINK trades at $16.27, reflecting a 6.4% decline over the past 24 hours and an 11.0% drop over the past week, according to Coingecko.

Bullish Trends and Support Levels

- LINK recently broke through a key resistance level, now acting as a support zone, indicating a strong bullish trend. Over the past month, LINK’s price has risen by 25%, boosting investor confidence. Analysts, including Crypto Yapper, anticipate a retest of this new support level, which, if held, would confirm the ongoing uptrend.

Price Predictions and Market Sentiment

- Forecasts suggest a 30% increase in LINK’s price, potentially reaching $21.71 by July 7, 2024. Despite this, short-term market sentiment remains bearish, with the Fear & Greed Index at 77 ("Extreme Greed"), hinting at possible overconfidence and a potential market correction. LINK has experienced a 50% rate of green days and a volatility rate of 10.73% over the past 30 days.

The Road Ahead

- The coming weeks will be pivotal for Chainlink. Successfully overcoming technical challenges and achieving price targets could signal a broader market resurgence for the #cryptocurrency sector.

This summary is for informational purposes only and is not investment advice.

Source - newsbtc.com

#CryptoTrends2024 #BinanceSquareTalks

💥💥💥 #BREAKING : #bitcoin Price Plummeted – Below $69,000! What Caused the Decline? Here is the Liquidation Data

Bitcoin (BTC) experienced a sudden decline, losing 3% of its value within minutes and hitting a low of $68,500. This drop is estimated to be linked to a live broadcast by RoaringKitty, a prominent influencer known for his involvement with GameStop shares. The live stream, which attracted approximately half a million viewers and was aired on major financial networks like CNBC, coincided with a sharp fall in GameStop shares. This decline resulted in a total loss of $235 million for RoaringKitty. GameStop shares can be likened to #Memecoins🤑🤑 in the #cryptocurrency world.

Additionally, data reveals that approximately $300 million was liquidated in the cryptocurrency market within the last hour, with $285 million of this being long positions and the remaining in short positions. A notable portion of these liquidations involved other altcoins such as Ethereum, Dogecoin, and Solana, as well as Bitcoin. The bulk of the liquidations occurred in low market value memecoins, with Bitcoin liquidations amounting to $44 million.

*This is not investment advice.

Source - en.bitcoinsistemi.com

#BinanceSquareTalks

🔥🔥🔥 Haruko Integrates Stacks to Deliver Institutional Asset Management on #bitcoin L2

The integration of Stacks into Haruko's institutional digital asset framework streamlines access to Bitcoin assets and #DEFI products. Stacks focuses on layer 2 solutions, unlocking dormant capital within its decentralized protocol. With numerous dApps launched, Bitcoin DeFi becomes tangible.

1. Institutional-grade DeFi Accessibility:

- Traditionally, institutions limited Bitcoin involvement to holding BTC on balance sheets. Haruko assists in navigating the emerging Bitcoin layer 2 landscape, offering flexibility, security, and efficiency.

2. On-chain Asset Management:

- Haruko users can track and manage #stx investments alongside other tokens. This empowers institutions to trade, manage risk, and ensure compliance conveniently in one place.

3. Stacks' Leadership in Scaling:

- Stacks leads in the Bitcoin scaling landscape, offering greater throughput, security, and support for low fees.

4. Growing Institutional Interest in DeFi:

- More adventurous funds explore DeFi, with Stacks securing regulatory approval for hosting such activity.

5. STX Token's Performance:

- STX token value doubled year-to-date, driven by $BTC and $ETH price rises. Grayscale's launch of STX-exclusive trusts underscores growing institutional interest.

Source - financemagnates.com

#CryptoTrends2024 #BinanceSquaretalks

💥💥💥 #shibaInu Needs to Break This 29 Trillion Resistance to Reach $0.00006

In the current market, altcoins like Shiba Inu (SHIB) are struggling to regain momentum despite #Bitcoin's strong performance. On June 5th, SHIB saw a surge, peaking at $0.00002633, driven by Bitcoin's rise and positive market sentiment. However, it faces significant resistance at the $0.000026 level, where a major sell wall exists, hindering further gains.

Data shows that 64,320 addresses hold 69.74 trillion SHIB at an average price of $0.000026, contributing to selling pressure when SHIB approaches this level. Despite attempts to maintain support above $0.000025, SHIB has retraced its recent gains.

To surpass the $0.000026 resistance, SHIB needs to confidently close above $0.000027. However, it faces additional hurdles on its way to $0.00006, encountering five more supply walls. The largest of these walls involves 140,260 addresses holding 19 trillion SHIB tokens between $0.00003 and $0.000036.

Despite these challenges, SHIB maintains a significant number of addresses in profit, representing 63.43% of total holders. This is attributed to SHIB's spike beyond $0.00001 earlier this year. Presently, SHIB trades at $0.00002534, with efforts ongoing to reclaim $0.00003.

In summary, SHIB faces formidable obstacles in its recovery journey, with multiple sell walls impeding progress. However, bullish momentum driven by Bitcoin's resurgence and positive market sentiment could fuel SHIB's ascent if these obstacles are effectively overcome.

Source - thecryptobasic.com

#CryptoTrends2024 #BinanceSquareTalks #cryptocurrency

🔥🔥🔥 Data Shows That Despite Struggles, $XRP Ranks Among Top 5 Assets with Highest Profitability

The recent update highlights XRP's ongoing struggle to surpass the $0.50 level, sparking #stablecoin comparisons. Since dropping below $0.60 on April 12, XRP has failed to reclaim this key price point, despite occasional market upswings. However, XRP has maintained its $0.50 support, showcasing resilience but causing investor anxiety due to stagnant price movements.

Santiment's "Supply in Profit" metric reveals that most of XRP's circulating supply is trading at a profit. This metric compares a token's current value to its initial value on the #Blockchain , indicating whether it's trading higher or lower than its initial price.

Bitcoin ($BTC ) has the highest percentage of supply in profit at 98.3%, followed by Ethereum ($ETH ) at 95.1%, #Chainlink at 86.8%, and Dogecoin (DOGE) at 82.2%. Despite a year-to-date decline of 15%, XRP ranks fifth with a 78.8% profitability ratio.

XRP's high profitability is due to its initial low price and the timing of token releases. Ripple's monthly escrow releases, totaling 2.4 billion tokens annually, often coincide with low prices, maintaining supply profitability. For instance, 500 million XRP released on May 1 and 1 billion XRP on June 1 are now in profit, trading above their release prices.

In summary, XRP's ability to maintain its $0.50 support and high profitability ratio, despite price struggles, is largely due to strategic token releases and initial low pricing.

Source - thecryptobasic.com

#CryptoTrends2024 #BinanceSquareTalks