📈 Bitwise's Chief Investment Officer (CIO), Matt Hougan, suggests that the long-term impact of Bitcoin spot ETFs has been underestimated. He believes that despite the lack of significant price fluctuations upon approval, Bitcoin could follow a trajectory similar to gold, which grew from a $2 trillion market to $15 trillion with the introduction of gold ETFs. Hougan anticipates tens of billions of dollars flowing into Bitcoin spot ETFs, significantly boosting Bitcoin's price over time. 🚀💰 #BitcoinETFapproved #CryptoMarketRecovery #BitcoinPrice

#RWA Ecosystem right now .. Going to grow bigger and bigger

#CryptoMarketRecovery #trending2024 #trendingtoday #BTCETF $SOL $XRP $BTC

💼 CryptoQuant CEO Joo Ki-young points out the positive impact of U.S. Bitcoin mining companies on chip performance and the Bitcoin network's hash rate growth. The combined market capitalization of major U.S.-listed Bitcoin mining companies is currently around 13.6 billion USD. 🚀💹 #BitcoinMining #CryptoMarketRecovery

$POND (UPDATE)

#POND is currently in an accumulation phase. Consider accumulating before it's too late ⌛️.

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@cryptobreakout_trader

💼 Global cryptocurrency market cap rebounds to $1.8 trillion, marking the first recovery since May 2022, with the current cap at $1,803,461,445,479, up 4.5% in 24 hours. 📈 Bitcoin dominance is 48.3%, and BTC trades at $44,608, a 5.2% increase, as per CoinGecko. 💹🌐 #CryptoMarketRecovery 💰🚀

🚀🚀🚀 #cardanoprice Surges 8.46%, Targets $0.42 as Bullish Momentum Grows

#Altcoins👀🚀 Rally as Cardano Signals Trend Reversal Amid #CryptoMarketRecovery

Altcoins are experiencing a resurgence as the broader crypto market rebounds from a $2.1 trillion valuation. While many top performers capture attention, Cardano is quietly indicating a potential trend reversal in its daily chart.

Cardano's Falling Channel Breakout

- After a three-day decline from September 14-16, Cardano is making a bullish comeback. The altcoin has gained 8.46% over the past four days, currently trading at $0.359, with an intraday rise of 2.28% from an opening price of $0.352.

- This recovery suggests a potential breakout above multiple resistance levels on the daily chart. Cardano has successfully surpassed the 50-day Simple Moving Average (SMA) and a significant overhead resistance trendline.

Analyzing the Cardano Price Chart

- The breakout from the trendline marks a falling channel breakout, resulting in four consecutive bullish candles. Cardano is now targeting the next dynamic resistance at the 100-day SMA, positioned at $0.373.

Future Price Prospects for Cardano

- The ongoing recovery is reflected in positive momentum indicators, with the MACD and signal line showing a rise in positive histograms. The momentum indicator is also avoiding a negative crossover, suggesting a short-term buying opportunity.

- At the Token 2049 event in Singapore, Cardano founder Charles Hoskinson humorously urged Gemini Exchange to list ADA, holding a sign that read, “When ADA?” This playful appeal has reignited interest in Cardano and could increase the likelihood of an ADA listing on Gemini, potentially boosting its price.

- According to Fibonacci levels, the next key resistance is around $0.422 at the 23.60% level, followed by the 200-day EMA at $0.45. However, reaching the psychological $0.50 mark in a single move seems unlikely, as Cardano may face several challenges along the way.

Source - thecryptobasic.com

#CryptoTrending #BinanceSquareTalks