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The Crypto Basic
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The total net positive inflow of the seven spot Bitcoin ETFs is $400 million, according to BitMEX Research.
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As the market volatility intensifies, #shiba⚡ Inu lead developer Shytoshi Kusama has voiced his opposition to the popular call to “sell everything.” X user “The Don Landoni” sparked the conversation when he proclaimed that the crypto market is doomed. “We are all going to die,” he tweeted, urging stakeholders to “sell everything” while they still can. This sentiment came at a time when Bitcoin’s price had slumped to $91,220 on Thursday evening. Notably, the drop followed three consecutive days of declines, during which Bitcoin lost 11.18% of its value. Bitcoin’s dip significantly impacted the broader crypto market, particularly the meme coin segment, where Shiba Inu dominates. Specifically, SHIB plummeted by 16.72%, dropping from $0.00002458 to almost losing the $0.00002 region. In light of the market uncertainty, Landoni urged participants to sell their holdings while they still could instead of following the usual advice to “buy the dip.” Shiba Inu Lead Disagrees However, Shiba Inu’s lead developer disagreed with the sentiment. Kusama replied “No” to the call using a humorous GIF. Essentially, Kusama rejected the idea of selling one’s crypto assets out of fear of the market “dying” or crashing. Notably, the Shiba Inu ecosystem is currently in the midst of launching its final ecosystem token, TREAT. Kusama has emphasized the importance of taking a long-term perspective and overlooking short-term price fluctuations. #CryptoNewsCommunity
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The United States Senate is making significant efforts to formalize its legislative oversight of crypto as it moves to create a subcommittee exclusively dedicated to the industry. Popular FOX Business journalist Eleanor Terrett made the disclosure yesterday. She suggested that the subcommittee will operate under the Senate Banking Committee. According to Terrett, the U.S. Senate Banking Committee, chaired by Tim Scott (R-SC), is set to create a subcommittee exclusively focused on cryptocurrencies. The FOX Business journalist noted that this is the first-ever Senate subcommittee exclusively dedicated to cryptos. She mentioned that the subcommittee is similar to a panel created by the House Financial Services Committee in 2023 under Patrick McHenry’s leadership. Senator Lummis to Head Crypto Subcommittee Terrett disclosed that she learned from a Senate aide that Senator Cynthia Lummis (R-WY), known for supporting pro-crypto regulation, has been tentatively selected to head the crypto-focused subcommittee. However, her appointment requires a full committee vote, which sources expect will occur in the coming days. This vote will also decide whether to include other members from the Republican and Democratic Parties in the subcommittee. #CryptoNewss
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"Ethereum’s Path to $7K: Expert Highlights Crucial Pattern for Market Surge"
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Over the past 24 hours, the #SUI token has experienced a significant recovery of 10.93%. By reclaiming the $5 psychological level, SUI’s market cap has risen to $15.41 billion. As the altcoin rises against the bearish trend in the broader crypto market, the recovery suggests the potential for a new all-time high. SUI Price Analysis On the 4-hour chart, the SUI price trend shows a bullish comeback from a local support trendline, confirming renewed buyer interest. Multiple lower price rejections at the $4.50 psychological level reveal a double-bottom reversal, indicating strong accumulation at lower levels. Additionally, the bullish move has resulted in a 13.55% surge from the low of $4.4957 to the current price of $5.10. This recovery has helped SUI surpass the 61.80% Fibonacci retracement level at the $5 mark, signaling increased bullish momentum. With this recovery, the 4-hour RSI line has moved back above the halfway mark, indicating improving market sentiment. Moreover, the bearish crossover between the 20 and 50 EMA lines has been avoided, reinforcing the optimistic outlook. Overall, technical indicators are signaling renewed bullish momentum, with buyers regaining control. #CryptoNews🚀🔥V
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"Timeline for Dogecoin to Hit $2 and $8 Revealed: Expert Breaks Down the Path Ahead"
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