UsmanAli
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#Xrp🔥🔥 XRP Price Outlook Grim as Traders Go Short, Exchange Inflows Increase
Net inflows to spot XRP tokens turned positive early Thursday after days of outflows, putting the token in focus following a record-breaking month for its native decentralized exchange(DEX).
Over $15 million in XRP flowed to centralized exchanges on Thursday led by deposits to Bybit and Kraken, Coinglass data shows. Spotin flows to exchanges may mark an intentionto sell tokens on the open market, dampening chances of a rally.
Meanwhile, 8-hour funding rates in the XRP perpetual futures markets stood at -0.0065% as of Thursday morning, implying a bias for short positions that profit from price drops. Notably,XRP's funding rates were more negative than ETH and BTC.
Negative funding rates mean traders holding short positions are willing to pay a small fee to those with long positions to keep their bearish bets open.
#Write2Earn
Net inflows to spot XRP tokens turned positive early Thursday after days of outflows, putting the token in focus following a record-breaking month for its native decentralized exchange(DEX).
Over $15 million in XRP flowed to centralized exchanges on Thursday led by deposits to Bybit and Kraken, Coinglass data shows. Spotin flows to exchanges may mark an intentionto sell tokens on the open market, dampening chances of a rally.
Meanwhile, 8-hour funding rates in the XRP perpetual futures markets stood at -0.0065% as of Thursday morning, implying a bias for short positions that profit from price drops. Notably,XRP's funding rates were more negative than ETH and BTC.
Negative funding rates mean traders holding short positions are willing to pay a small fee to those with long positions to keep their bearish bets open.
#Write2Earn
#BTC Is Bitcoin price going to crash again?
Bitcoin abandoned early hopes of animmediate recovery after the crypto asset continued to fall on Feb. 5, following a volatile weekly open, during which daily high and low values were almost $11,000 apart.
BTC's daily chart closed under $100,000 for the second time since Jan. 15, with the market sestimating a period of consolidation over the next few days.
After the massive liquidation event, a cool down period was expected for investors to readjust their positions and question whether additional downside is on the way.
Bitcoin abandoned early hopes of animmediate recovery after the crypto asset continued to fall on Feb. 5, following a volatile weekly open, during which daily high and low values were almost $11,000 apart.
BTC's daily chart closed under $100,000 for the second time since Jan. 15, with the market sestimating a period of consolidation over the next few days.
After the massive liquidation event, a cool down period was expected for investors to readjust their positions and question whether additional downside is on the way.
Bitcoin Nears $98K as Eric Trump Encourages BTC Investment
Bitcoin rose above $98,000 during Thursday's Asian trading hours after Eric Trump, son of U.S. President Donald Trump, encouraged BTC
investment on X.
"[It) feels like a great time to enter BTC" Eric Trump posted on X at 1:41 UTC, following which, BTC prices rose from $96,900 to $97,830. The micro CME futures topped the $98,000 mark, according to data source Trading View.
Early this week, Trump's Al and crypto czar David Sacks said the Trump administrationis evaluating the feasibility of a strategic bitcoin reserve, disappointing crypto investor santicipating a swift action on the issue. #Write2Earn
Bitcoin rose above $98,000 during Thursday's Asian trading hours after Eric Trump, son of U.S. President Donald Trump, encouraged BTC
investment on X.
"[It) feels like a great time to enter BTC" Eric Trump posted on X at 1:41 UTC, following which, BTC prices rose from $96,900 to $97,830. The micro CME futures topped the $98,000 mark, according to data source Trading View.
Early this week, Trump's Al and crypto czar David Sacks said the Trump administrationis evaluating the feasibility of a strategic bitcoin reserve, disappointing crypto investor santicipating a swift action on the issue. #Write2Earn
$TRUMP It is right now in gainers list, it means once again it is ready to fly to the moon.😁 #trump fight fight fight 😎
Why always me? ☹️😫
98℅ chances it will further go down
Will it go down further? Should I close?
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