**Notcoin's Price Drop: Temporary Setback or Investment Opportunity? đš**
Yesterday's arrest of Telegram founder Pavel Durov, tied to an ongoing investigation into alleged criminal activities, sent shockwaves through the crypto market, particularly affecting tokens linked to the Telegram and TON ecosystems.
Notcoin ($NOT), a significant player in the TapToEarn project, felt the impact, dropping over 15% to $0.092. However, is this just a brief setback or an opportunity to buy at a discount?
Historically, $NOT has shown strength at this support level, with past recoveries from similar dips. The price has already started to recover, climbing to $0.095, sparking optimism for a potential turnaround.
For long-term investors, this decline could be a prime buying opportunity. If positive news about Durov emerges, $NOT could regain momentum, offering a chance to get in before a possible rally.
However, stay vigilantâif the investigation intensifies, the outlook for $NOT and other Telegram-related tokens could take a hit.
In the world of crypto volatility, this dip might just be the chance that savvy investors have been waiting for. đđ„
#Notcoinđđ„
#BinanceLaunchpoolDOGS
#BTC/USDT ANALYSIS
[VOTE FoR me And CLaim Ur Free USDT đ€](https://app.binance.com/uni-qr/cpro/Crypto_Psychic?l=en-IN&r=70892612&uc=app_square_share_link&us=copylink)
Bitcoin has recently broken out of an ascending triangle with significant volume, signaling a strong bullish move. It is currently trading within a bull flag pattern. A breakout from this pattern would confirm the continuation of the uptrend.
Conversely, if Bitcoin breaks down from the bull flag, the pattern will be invalidated, and we might see a retest of lower levels, with the 200MA acting as key support. Keep a close watch on these levels for potential trading opportunities.
#bitcoin $BTC
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_đčđąâïžShaping the Future: Shiba Inu's DAO Plan đŸđĄ_
$SHIB $PEPE $DOGE đ‎ïžđȘ
[đšKEEP THE VOTE COMING WE CAN MAKE IT TO TOP đŻ 100 VOTE DAILY đ‎ïžđȘ](https://app.binance.com/uni-qr/cpro/Valorus123?l=en&r=387299788&uc=app_square_share_link&us=copylink)
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Shiba Inu, a popular cryptocurrency, is revolutionizing its governance ecosystem with a decentralized autonomous organization (DAO) plan đ€. This innovative approach aims to empower every holder, regardless of stake size, to contribute to the community's direction đłïž.
_Two Pillar Councils đ_
The DAO will be anchored by two main councils:
1. _Charity Council_ â€ïž: Focuses on philanthropic activities, leveraging resources and community support for social impact đ.
2. _Culture & Heritage Council_ đïž: Preserves Shiba Inu's unique culture and ethos, ensuring growth aligns with foundational values đ.
_Roles of Other Tokens đ€_
- _BONE_ đ»: Guides efforts in advancing blockchain knowledge and innovation đŹ.
- _LEASH_ đ: Promotes fairness and transparency within the community through voting đłïž.
_Impact on DeFi Space đ_
The DAO introduction is expected to:
- Bolster Shiba Inu's influence in the decentralized finance (DeFi) space đ.
- Enhance community engagement and decision-making đŁïž.
- Foster a more inclusive and transparent governance model đ.
_A New Era for Shiba Inu đ_
The DAO plan marks a significant milestone in Shiba Inu's evolution, demonstrating its commitment to community-centric governance đŸđ. As the project unfolds, it will be exciting to see how this innovative approach shapes the future of Shiba Inu and the broader DeFi ecosystem đź.
$BTC The Ultimate Cryptocurrency to Buy With $1,000 in August
I'd expect that it would take investors a long time to try to find assets that performed better than Bitcoin (CRYPTO: BTC) has. In the past decade, the world's most valuable cryptocurrency has skyrocketed 121-fold. If you'd invested $1,000 10 years ago, you'd have a jaw-dropping $121,000 today.
Here's why Bitcoin, even after its monumental performance in the past decade, is still the ultimate cryptocurrency to buy with $1,000 in August.
Bitcoin is a game-changing concept
When the Bitcoin whitepaper was released in October 2008, it introduced a method for two parties to directly send money to each other digitally without the use of an intermediary. This just wasn't possible before
The fact that Bitcoin is decentralized and borderless with no single entity in control is a game-changing breakthrough in and of itself. But what's truly special is the fixed supply cap. There will only ever be 21 million coins in circulation, thanks to a pre-determined inflation rate that's etched into the software. Plus, Bitcoin has never been hacked, which might make it the most secure computer network on Earth
Bitcoin's characteristics are definitely compelling. But they stand out even more if we view the blockchain network in relation to the current financial system
Look at the U.S., the world's dominant economy. Despite this leading position, the government continues to operate with a massive fiscal deficit that is likely never going to change. That has resulted in a federal debt burden of $35 trillion. Consequently, the money supply has also climbed rapidly in the past 20 years, with no end in sight
This unfavorable situation isn't unique to the U.S. And it leads to the constant debasement of fiat currencies. This alone shows why Bitcoin is potentially a better financial asset
Bitcoin's long-term upside
I've seen some very optimistic scenarios for Bitcoin's ultimate upside. Cathie Wood of Ark Invest believes in her firm's bull-case outlook that Bitcoin's price will rise to $3.8 million by 2030 -- provided.
The DOGS Telegram Foundation's project is well-established, with a strong community and a reputation for being solid. Many who participated in the DOGS airdrop were able to claim a substantial number of coins with minimal effort, which has generated significant interest in holding onto DOGS after the listing. This positive sentiment among holders could be a driving factor for a potential price increase following the coin's listing.
However, since this was a free airdrop, it's likely that a significant number of participants will sell their DOGS coins immediately after the listing, potentially leading to a price correction. Despite this, the project's strong fundamentals and large community support suggest that many will continue to hold DOGS, and new investors may also enter the market. As a result, the price could drop by 30% to 40% from the initial listing price before potentially offering a 2-3x profit within two months.
My strategy with DOGS is to advise my followers and community members to consider selling 50% of their coins after the listing. Then, once the price drops by 30-50% from the listing price, they could use the proceeds from the initial sale to buy back and accumulate more DOGS coins for the long term.
#MtGoxRepayments #BinanceLaunchpoolDOGS #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves
đ Crypto Market Sees Major Inflows! đ
Crypto investment products saw a massive $530M inflow last week, the highest in five weeks, driven by positive market sentiment and dovish signals from Fed Chair Jerome Powell at the Jackson Hole Symposium. Despite lower trading volumes, activity remained high, reaching $9B for the week.
Key Highlights:
- U.S. led with $498M inflows
- Hong Kong: $16M, Switzerland: $14M
- Germany saw $9M outflows
Bitcoin (BTC) was the big winner with $543M inflows, while Ethereum (ETH) experienced $36M outflows but new ETFs attracted $3.1B.
đŹ What are your thoughts on these trends? Comment below!
$PEPE
[VOTE đ](https://app.binance.com/uni-qr/cpro/arthursimfukwe)
PEPE is Showing Both Bullish and Bearish Signals đł Stay Active and Apply Risk Management
PEPE is currently displaying a mix of bullish and bearish signals, making it essential for traders and investors to stay vigilant. Hereâs why itâs crucial to remain active and apply effective risk management strategies:
1. Bullish Indicators: PEPE has shown signs of upward momentum, with increased trading volume and positive price movements. These bullish signals indicate that there could be opportunities for gains if the momentum continues.
2. Bearish Signs: At the same time, PEPE is also exhibiting bearish trends, such as sudden price drops and increased volatility. These signals suggest that the coin could face downward pressure, making it important to proceed with caution.
3. Market Volatility: The mixed signals from PEPE highlight the volatile nature of the cryptocurrency market. Sudden price swings are common, and this volatility can present both opportunities and risks for traders.
4. Risk Management: Given the dual signals, itâs crucial to implement risk management strategies. This might include setting stop-loss orders, diversifying investments, and avoiding overexposure to PEPE in your portfolio. By managing risk effectively, you can protect your investments from potential losses.
5. Staying Informed: Continuously monitoring market conditions and staying updated on PEPEâs performance is key to navigating these mixed signals. Being proactive and responsive to changes can help you make informed decisions.
In summary, PEPEâs current mix of bullish and bearish signals calls for careful attention and effective risk management. Stay active in monitoring the market, apply risk management strategies, and ensure youâre well-informed to navigate the volatility. As always, before making any investment decisions, Do Your Own Research (DYOR) and assess your risk tolerance. đł
#BinanceLaunchpoolDOGS #CryptoMarketMoves #pepeâĄ
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{future}(BNBUSDT)
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BONK Breakout Alert: Will You Miss This Explosive Move?
Have you noticed the powerful breakout #BONKUSDT is triggering right now? This is one you don't want to overlook.#BONK is making waves as it breaks out of a triangle pattern, and what's more intriguing is that this breakout is happening right at the 4-hour EMA-200 level.
This alignment isn't just a coincidence-it's creating a surge in breakout momentum that could drive BONK much higher.Currently, BONK is eyeing the 0.00002300 level as its initial target.
This is a minor resistance level where price might see some profit taking. However, if the momentum holds strong, BONK could push even higher towards the 0.00002415 to 0.00002515 range. These levels are likely where the current move will find its completion.
On the downside, the 4-hour EMA-200 at 0.00002115 is providing crucial support. As long as this level holds, the bulls will likely maintain control. However, if BONK slips below this level, the next support to watch is 0.00002035.
This could be a significant move. Keep your strategy disciplined and remember, in the worl of crypto, the most prepared traders reap the rewards.
$BONK #DYOR
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đ¶ **DOGS Price Prediction || Where Should We Sell?**
đ¶ **DOGS**, a memecoin on the Ton blockchain, is set to be listed on Binance today, August 26, 2024, at 12:00 UTC. The total supply is 550 billion $DOGS, with 516.75 billion (93.95%) entering circulation at launch.
đ¶ **Key Predictions:**
1. **Launch Price Surge:** Expect $DOGS to reach a peak around $0.001 in the initial minutes, followed by a correction.
2. **Liquidity Insights:** With 5.45% of the supply allocated to liquidity, the higher-than-usual allocation suggests potential price stability.
3. **Distribution Concerns:** The large portions reserved for community airdrop (72.73%) and marketing (9.18%) could lead to price manipulation.
đ¶ **Strategy Tips:**
1. **Sell Early:** Consider selling airdropped tokens during the initial price surge.
2. **Futures Market Caution:** If futures trading opens, avoid high funding rates that could eat into your profits. Shorting might be an option, but manage risks carefully.
3. **Watch for Corrections:** Expect a significant correction in the coming days, which might present a buying opportunity before another price surge.
đ¶ **Disclaimer:** This is not financial advice. Investing and trading involve risks. Conduct thorough research before making any decisions.
If you found this post helpful, please like it and vote for @henry0077. After voting, drop a "done" comment. Thank you for your support. Follow @henry0077 for more insights.
#MtGoxRepayments #BinanceLaunchpoolDOGS #dogs
**NVIDIA Earnings Report Anticipated Amid AI Market Surge**
The upcoming NVIDIA earnings report is highly anticipated, with significant implications for both traditional and digital markets. NVIDIA, a leader in the tech world and AI revolution, has driven strong demand for its advanced chips. Investors are eager to see the report's impact on stock prices and the broader financial landscape.
AI-related tokens such as Near Protocol, FET, TAO, and Render have seen substantial gains ahead of the report. Investors are betting that strong earnings from NVIDIA could further fuel the AI boom, benefiting these tokens.
Expectations for NVIDIAâs earnings are high, with Wall Street analysts predicting significant increases in earnings and revenue. The company's stock has already seen substantial gains this year, reflecting investor confidence. However, the upcoming report could either validate this optimism or introduce volatility.
NVIDIAâs earnings report will also affect the broader market. The Federal Reserveâs recent comments on potential rate cuts add another layer of complexity. A strong report could bolster investor confidence across the tech sector, while any signs of weakness could trigger a pullback in tech stocks, especially those linked to AI.
As investors prepare for NVIDIAâs earnings report, they are also closely watching the Federal Reserve. The Fedâs decisions on interest rates could influence market sentiment, making this week particularly volatile. A strong earnings report from NVIDIA could mitigate some uncertainty, providing a boost to tech stocks and AI tokens alike.
In conclusion, the upcoming NVIDIA earnings report is a critical event for investors, with its impact likely to be felt across both traditional and digital markets.
$DOGS Token Listing on Binance: Price Predictions and Analysis
The highly anticipated listing of DOGS token on Binance is set to occur on August 26, 2024, at 12:00 UTC. With a total supply of 550 billion tokens and an initial circulating supply of approximately 516.75 billion, this event is expected to generate significant price movements.
*Trading Pairs:*
- DOGS/USDT
- DOGS/BNB
- DOGS/FDUSD
- DOGS/TRY
*Price Predictions:*
1. Market Cap of $800 Million: $0.00145 per DOGS token
2. Market Cap of $1 Billion: $0.00182 per DOGS token
*Could DOGS List at $0.01?*
If listed at $0.01, DOGS' market cap would start at approximately $5.17 billion. This is a high target, but possible given current hype.
*Future Price Movements:*
- If Market Cap Grows to $6 Billion: Price could rise to around $0.0116
- If Market Cap Drops: Price might fall below $0.01, depending on market conditions
*Summary:*
The listing of DOGS on Binance could see rapid price changes due to its popularity and market buzz. Strong community support and favorable market conditions are crucial to maintaining or increasing its value. However, high volatility means prices could fluctuate significantly.
Stay tuned for updates and analysis on the DOGS token listing! #DOGS #BinanceListing #BinanceLaunchpoolDOGS #TelegramCEO #BinanceBlockchainWeek
$FET $NEAR $RENDER
THESE AI TOKENS ARE ABOUT TO GET PARABOLIC đđ
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đ°
AI Tokens Surge as Nvidia's 'Super Bowl' Earnings Report Looms.
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According to Cointelegraph: Artificial intelligence-based crypto tokens are experiencing significant gains ahead of Nvidia's highly anticipated second-quarter earnings report, with some tokens surging as much as 70% in the past week. AI-focused tokens like Near Protocol (NEAR), Artificial Superintelligence Alliance (FET), Bittensor (TAO), and Render (RENDER) have outperformed the broader crypto market, fueled by expectations surrounding Nvidia's earnings.
{spot}(FETUSDT)
đȘ Key highlights:
FET token surged nearly 70% in a week, while NEAR saw a 35% increase.
TAO and RENDER also posted significant rise, with TAO up 26% and RENDER climbing 40%.
Nvidia's earnings report on August 28 is expected to be a "blockbuster event," with analysts forecasting a 141% increase in earnings per share.
Market sentiment is closely tied to Nvidia's performance, which has been a significant driver for AI-related assets. As the market awaits Nvidia's results, AI tokens are leading the charge, positioning themselves as key players in the ongoing AI revolution.
Â
CREDITS: BINANCE NEWS
#Fetch_ai #RENDER
Binance Coin (BNB) Bulls Seek to Confirm Breakout
Binance Coin BNBUSD is having trouble consolidating its recent breakout above a descending line. The altcoin has witnessed a pullback since its peak at $599 on August 23.
If BNB successfully retests the breakout line and flips it into support, it will resume its uptrend.
Binance Coin Bulls Must Defend This Support Level
On August 21, the altcoin broke above the descending line below which it had traded since June 6. Its price quickly rallied to $599 by August 23.
However, buyers' exhaustion has set in since then, putting downward pressure on BNB's price. At $567.30 at press time, the altcoin is trending toward the breakout line, attempting to retest it.
This retest is important because it helps traders confirm the strength of the breakout. If the price successfully holds at the breakout level (now acting as support in BNB's case), it confirms the breakout's validity, suggesting that the new uptrend is likely to continue.
Some of BNB's key momentum indicators confirm the weakening demand for the altcoin as it trends toward the breakout line. For example, BNB's Relative Strength Index (RSI) is in a downtrend as of this writing.
Although it remains above the 50-neutral line, the indicator's decline hints at rising selling pressure. If selling pressure gains momentum, the breakout level may be hard to hold when the retest occurs.
BNB's August 21 breakout above
its descending trendline will only be validated if it holds as support during the upcoming retest. If bulls successfully defend this level, the breakout will be confirmed, allowing BNB to resume its upward momentum.
In this scenario, BNB's price could climb toward $598.90, with potential to reach $652.90.
On the other hand, if the retest fails and the support doesn't hold, BNB would slip back below the descending trendline, likely dropping to $522,90. The outcome of this retest will be crucial for BNB's next move.
$BNB #DYOR
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[VOTE AND EARN 5 DOLLARS](https://app.binance.com/uni-qr/cpro/CryptoPrincess?l=en&r=359246578&uc=app_square_share_link&us=more) đđž
Powell's speech reflected positively on crypto funds: $533 million arrived
Cryptocurrency funds closed last week with a plus of $533 million. Most of the entries into the funds came after Powell's speech on Friday. The biggest investment, as always, received Bitcoin funds.
Cryptocurrency funds had a net inflow of $533 million last week. This figure pointed to the peak of the last 5 weeks. While Bitcoin funds net invested $543 million, the outflows of $35.7 million in Ether funds also drew attention.
Most of the entries are on Friday
The report, prepared by CoinShares analysts, stated that most of the entries were during and after Powell's speech on Friday. As it is known, Powell, in his speech in the town of Jackson Hole on Friday, gave the message that action would be taken on interest rate cuts in September.
Altcoin funds remained low
The performance of altcoin funds, which has serious inflows in recent weeks, has been low last week. While only 100 thousand dollars entered the Solana funds, LTC funds saw 500 thousand dollars, XRP funds 300 thousand dollars and ADA funds 300 thousand dollars.
An investment of 1.7 million dollars came to the "Short Bitcoin" funds that invested in the fall of Bitcoin.
Exits again in Grayscale...
The leader of the week in Bitcoin spot ETFs was BlackRock again. The IBIT fund was at its far peak at $318 million. The closest fund to it was Fidelity's Wise Origin ETF. The Fidelity fund received an investment of $87 million. On a weekly basis, there were 87 million dollar exits from Grayscale's Bitcoin fund and 118 million dollars from the Ether fund.
#laraxen #LaraxenFamily #Laraxenteam $ADA
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$XRP
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$LTC
Will it moonshot to $0.01 on listing day?
#Dogs
đ đ $DOGS is gearing up for a major milestone with its upcoming listing on Binance, sparking widespread anticipation in the market. Will it moonshot to $0.01 on listing day? Let's break it down:
đ **Potential Price Scenarios:**
1ïžâŁ **Conservative Estimate:** With a market cap projected between $800 million to $1 billion, $DOGS may initially trade between $0.00145 to $0.00182. This suggests a gradual uptrend rather than an immediate moonshot to $0.01.
2ïžâŁ **Ambitious Scenario:** In a more optimistic outlook, if $DOGS debuts at $0.01 with a market cap of $5.17 billion, significant price appreciation could follow. However, sustaining this level depends on market dynamics post-listing.
đ **Factors Driving Price Movement:**
- **Market Sentiment:** Positive sentiment fuels demand and potential price spikes.
- **Community Engagement:** A dedicated community backing $DOGS enhances its stability and growth.
- **Overall Market Conditions:** Trends across the broader cryptocurrency market will also influence $DOGS' trajectory.
Stay tuned as $DOGS prepares to make waves on Binance! đ Are you ready for this exciting chapter in crypto history? Let's watch together and see where the journey takes us! đđ
#DOGS #binancelisting #Cryptocurrency #Moonshot
PEPE Price Eyes $0.00001300
Pepe coin price chart indicates a potential bullish breakout. The PEPE price has moved above a key resistance level and is trading close to the upper Bollinger Band, suggesting upward momentum.
PEPE is likely to find short-term resistance around $0.00000955. Beyond this, 0.00001300 is the next potential target zone if the bullish momentum continues.
The price action trades near the upper band, which typically suggests the market is overbought but also indicates strong bullish momentum. A breakout above the upper band could signal a continuation of the upward trend.
The MACD is above the zero line, and the MACD line (blue) is above the signal line (orange), indicating bullish momentum. The increasing histogram bars suggest that the momentum is gaining strength.
If the Pepe coin price sustains a breakout above $0.00000955 with higher volume and bullish MACD signals, it will justify long-term buying with targets at potentially above $0.00001300. Further extensions will depend on market conditions and the development of new support and resistance levels.
If the Pepe price fails to break above $0.00000955, it may drop to $0.00000811, which now acts as a critical support zone. This level previously served as resistance and is expected to provide a strong base if the price retraces. A drop lower than that may invalidate the current bullish thesis.
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đ đđĄđąđ§đ đŹ đČđšđź đŹđĄđšđźđ„đ đ€đ§đšđ° đđđšđźđ $BTC đđšđ« đđĄđąđŹ đ°đđđ€ đšđš
This week in Bitcoin, five key factors are shaping the market:
I need your support for 3 more days for voting : [đđčđ¶đ°đž đđČđżđČ đđŒ đ©đŒđđČ](https://app.binance.com/uni-qr/cpro/cryptonexus_btc?l=en&r=274085328&uc=app_square_share_link&us=copylink)
1. Price recovery is underway, with Bitcoin targeting $65,000 as traders watch the monthly close for signs of continued upward momentum.
2. Macroeconomic data, particularly the upcoming PCE index, could influence Federal Reserve policy, impacting Bitcoin's price.
3. Mining difficulty is set to rise again, reflecting the network's resilience and strength.
4. Short-term holders are selling, affecting market sentiment and price dynamics.
5. With these factors in play, expect potential volatility.
#MtGoxRepayments #BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BlackRockETHOptions
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_âïžđđšBitcoin Mining Pool Update đ_
$BTC $USDC $HOOK đ‎ïžđȘ
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The Bitcoin mining landscape has seen a significant shift, with DCG's Foundry USA and Bitmain's Antpool emerging as the largest BTC mining pools, controlling a whopping _56.7%_ of the total network hashrate đĄ. This dominance is a result of their substantial mining power and resources đȘ.
_Current Hashrate Distribution đ_
- _Total Bitcoin Network Hashrate_: approximately _651 EH/s_ (Exahashes per second) đ
- _Foundry USA_: contributes _215.79 EH/s_, leading the pack with a _33.1%_ share đ
- _Antpool_: contributes _153.55 EH/s_, a close second with a _23.6%_ share đ„
_Implications đ€_
- _Centralization Concerns_: The concentration of hashrate in two pools raises concerns about centralization and potential vulnerabilities đš
- _Mining Power_: Foundry USA and Antpool's dominance showcases their significant mining power and resources đȘ
- _Network Security_: A higher hashrate contributes to a more secure Bitcoin network, but centralization could be a risk đĄïž
_Importance of Decentralization đ_
- _Decentralization_: A more decentralized hashrate distribution is ideal for network security and resilience đ
- _Competition_: Other mining pools may emerge or grow to challenge Foundry USA and Antpool's dominance, promoting decentralization đïžââïž
_Monitoring the Hashrate Distribution đ_
- _Network Resilience_: A balanced hashrate distribution ensures network resilience and security đĄïž
- _Emerging Pools_: New mining pools may enter the scene, altering the hashrate landscape and promoting decentralization đ
Stay informed about the ever-changing Bitcoin mining landscape! đ
Justin Sun Announces TRON Raising Energy Cap...
TRX Price Shoots
Founder Justin Sun announced that proposal 92 is officially into effect within the Tron community, thereby boosting the energy cap to 120 billion. This development will help to boost transactions for TRX stakers, lower the gas fee, and enhance overall network activity. Sun also praised the community for its efficient execution of the proposal.
The massive spurt in the traffic on the Tron Network last week came on the backdrop of the SunPump frenzy. Justin Sun is also supporting the meme crypto mania with analysts predicting that Tronâs meme coin season could be even greater than what we witnessed on Solana earlier this year.
As a result, the network is already making a few preparations in this direction in order to cater to the huge traffic boost that could come along.
TRX Price Rally Amid Meme Token Frenzy
After a minor pullback over the weekend, the TRX price has surged by 22% over the past week and is currently trading around $0.1653 with a market cap of $14.3 by unseating Cardanoâs ADA again for the tenth spot. This price rally comes amid the surge in the token burns amid the frenzy indicating the growing demand and reducing supply. Sun predicted a further surge in the meme projects launching within the Tron ecosystem.
SUNDOG is currently the largest meme project within the Tron meme ecosystem. As of press time, SUNDOG is trading at 12.46% up at $0.2494 with a market cap of $249 million. Over the past week, the SUNDOG Price is up by a staggering 214%. As of press time, other meme projects launched on SunPump have also gained between 20-60%.
TRX price important breakout above the 2021 high, and now proceeding toward its all-time high levels of $0.20. thereâs still potential upside left for TRX which could push it into a price discovery zone.
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Bitcoin's market dominance has now climbed back above the 57% level, according to data provided by TradingView.
On Aug. 25, it peaked at 57.6%, coming close to reaching a new 2024 peak.
Earlier this month, Bitcoin dominance surged to 57.7% reaching its highest level since April 2021.
Ethereum, the main Bitcoin competitor, has been lagging behind the major cryptocurrency despite the recent launch of spot ETFs in the U.S.
cryptocurrency analyst Tuur Demeester recently predicted that the ETHBTC pair could end up collapsing to as low as 0.03 BTC.
Bitcoin dominance is now up 11% since the start of the year. In March, the leading cryptocurrency reached its current peak, but it has since pared some gains.
Meanwhile, Bitcoin is now back into greed territory after swiftly recovering from a devastating crash that took place earlier this month.
The Fear & Greed indicator shows 55 points out of 100 as of Aug. 26. For comparison, the cryptocurrency was in "extreme greed" territory just a few weeks ago following a massive price crash.
Over the past week, Bitcoin spot ETFs attracted a net inflow of $506 million. BlackRock's IBIT accounted for the majority of these inflows with $318 million. The net value of these products now stands at $58.4 billion.
This week, Bitcoin could experience increasing volatility because of the upcoming macro data in the US, including the core PCE index for July.
$BTC #DYOR
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Bitcoin Analysis
âââââ
âȘïžTECHNICAL (H4)
On the H4 timeframe, the price action is respecting its horizontal resistance level marked between $65,472 and $64,558. đ
*The price action is consolidating in a compression phase, struggling to print higher highs, indicating a potential pause or reversal in the upward movement.*đ
âȘïžWRAP-UP (VIP)
On the H1 timeframe, the price action is showing the formation of a double top pattern, đ
with the price currently consolidating above its horizontal support region. đ This suggests potential bearish momentum if the support level is breached.
$BTC