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#WRITE2earn Market Trends Update: #Bitcoin and #Ether Prices, Watch #MarketDecline #EthereumDown $BTC $ETH Bitcoin (BTC) experienced a drop of almost 4%, dipping below $62,500 during the early hours of the Asian business day. At the same time, Ether (ETH) is holding steady above the $3,000 mark. The Bitcoin Trend Indicator (BTI) has shifted from bullish to neutral, indicating a waning of upward momentum. This indicator, updated daily, communicates both the direction and strength of Bitcoin's price trends through a specialized algorithm. Since October 2023, the Bitcoin BTI has consistently signaled an uptrend or a significant upward movement, coinciding with reports of major fund managers nearing discussions' end with the Securities and Exchange Commission (SEC) regarding the launch of spot bitcoin exchange-traded funds (ETFs). Similarly, Ether's trend indicator has also reached a neutral position. Market data reveals that on April 15, there were no outflows from any bitcoin ETFs except for GBTC. The total flow for last week saw a negative of $82.5 million, primarily due to outflows from GBTC. Matteo Greco, a Research Analyst at Fineqia, noted in a statement shared with CoinDesk that despite the market downturn, trading volumes remained strong. BTC Spot ETFs recorded a weekly trading volume of about $16.2 billion, averaging $3.2 billion per day. Since inception, the cumulative trading volume stands at approximately $212 billion, with an average daily trading volume of around $3.3 billion. Meanwhile, a recent report from Watchcharts.com and Morgan Stanley highlights a continued decline in luxury watch prices. The report suggests that despite the robust performance of equity and crypto markets, which might have temporarily eased downward pressure on prices, the secondary market for watches saw sequential contraction in the first quarter. High inventory levels are cited as a primary reason for the ongoing decline in market prices, leading the report to conclude that it's premature to anticipate an immediate recovery in the secondary watch market.

#WRITE2earn Market Trends Update: #Bitcoin and #Ether Prices, Watch #MarketDecline #EthereumDown

$BTC $ETH

Bitcoin (BTC) experienced a drop of almost 4%, dipping below $62,500 during the early hours of the Asian business day. At the same time, Ether (ETH) is holding steady above the $3,000 mark.

The Bitcoin Trend Indicator (BTI) has shifted from bullish to neutral, indicating a waning of upward momentum. This indicator, updated daily, communicates both the direction and strength of Bitcoin's price trends through a specialized algorithm.

Since October 2023, the Bitcoin BTI has consistently signaled an uptrend or a significant upward movement, coinciding with reports of major fund managers nearing discussions' end with the Securities and Exchange Commission (SEC) regarding the launch of spot bitcoin exchange-traded funds (ETFs).

Similarly, Ether's trend indicator has also reached a neutral position.

Market data reveals that on April 15, there were no outflows from any bitcoin ETFs except for GBTC. The total flow for last week saw a negative of $82.5 million, primarily due to outflows from GBTC.

Matteo Greco, a Research Analyst at Fineqia, noted in a statement shared with CoinDesk that despite the market downturn, trading volumes remained strong. BTC Spot ETFs recorded a weekly trading volume of about $16.2 billion, averaging $3.2 billion per day. Since inception, the cumulative trading volume stands at approximately $212 billion, with an average daily trading volume of around $3.3 billion.

Meanwhile, a recent report from Watchcharts.com and Morgan Stanley highlights a continued decline in luxury watch prices. The report suggests that despite the robust performance of equity and crypto markets, which might have temporarily eased downward pressure on prices, the secondary market for watches saw sequential contraction in the first quarter. High inventory levels are cited as a primary reason for the ongoing decline in market prices, leading the report to conclude that it's premature to anticipate an immediate recovery in the secondary watch market.

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#WRITE2EARN #Bitcoin Price Declines Amidst Strengthening #Dollar and #Halving Anticipation #USdollarVsBitcoin $BTC With the U.S. dollar gaining strength, Bitcoin has seen a decline in its price ahead of the April 20 halving and amidst expectations that the Federal Reserve will pause its rate cuts in May. Recent reports indicate that the U.S. dollar is experiencing its most robust performance in a five-day period since February 2023. This surge in the dollar's value coincides with Bitcoin's downward trend, attributed to the anticipation of sustained high-interest rates and increased volatility leading up to the halving event. According to insights from The Kobeissi Letter, markets have shifted from expecting Federal Reserve rate cuts in June to a scenario of prolonged higher interest rates. This adjustment is driving up demand for the dollar, particularly among foreign investors seeking greater returns on investments such as bonds and term deposits. The Bloomberg Dollar Spot Index (BBDXY) has climbed approximately 2% over the past five trading days, reflecting a notable strengthening of the dollar against a basket of 10 major global currencies. This surge is evidenced by the rise in the U.S. Dollar Index score to 106.34, indicating an increase in value compared to its standing five days earlier. Conversely, Bitcoin has experienced a 9% price decrease over the same period, currently trading at $63,936 according to CoinMarketCap data. While Bitcoin and the dollar don't always move in tandem, their historical relationship has shown an inverse correlation. Federal Reserve Chair Jerome Powell's recent remarks on the country's inflation rate, coupled with warnings from traders like Justin Spittler regarding potential corrections in the overbought dollar, add to the complex dynamics influencing both Bitcoin and the dollar. Despite the impending halving event on April 20, which historically has triggered spikes in Bitcoin demand, investors are showing greater confidence in alternative crypto assets compared to previous halvings.
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#write2earn #KittenWifHat Price Analysis: Surging Trends and Bullish Prospects #solana #solana memecoin #memecoin $SOL The price of KittenWifHat skyrocketed by 54% , reaching $0.0065 at 11:50 a.m. UTC. Despite a decrease of 18% in trading volume to $3.9 million, the token gained significant traction, especially after being listed on Trust Wallet. This listing streamlines trading for users, potentially fueling further market momentum. Following its initial launch, KittenWifHat surged to $0.013 but experienced a retracement to around $0.005 before bouncing back to $0.0071. Subsequently, it dipped to $0.0042, forming a rounded bottom pattern. Bulls pushed the price upwards, aligning with an upward trend within a falling wedge pattern, breaching its upper boundary. Notably, KITTENWIF is currently trading above both the 50-day and 200-day Simple Moving Averages (SMA), signaling bullish sentiment. The Relative Strength Index (RSI) is approaching the overbought threshold at 70, indicating strong buying pressure. Additionally, the Average Directional Index (ADX) stands at 40, reflecting a robust bullish trend. Analyzing KittenWifHat's future trajectory, there's a bullish sentiment suggesting a potential reversal within the falling wedge pattern, supported by the RSI and ADX indicators. With optimistic projections, bulls aim for a target of $0.013, anticipating a 120% surge from the current price. However, if the RSI surpasses the overbought region, a correction might be on the horizon. In such a scenario, bears could push the price back towards support at $0.0042. As KittenWifHat's value ascends, investor interest in Smog is also growing, anticipating another centralized exchange (CEX) listing soon.
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#Write2earn #Musk 's Tweet Sparks #DOGE Surge, #Shiba Inu Eyes Top 10 #memecoins $SHIB $DOGE Dogecoin (DOGE) experienced a price surge of over 4% following a recent tweet from Elon Musk, where he referenced a scene from the classic 1979 film “Monty Python’s Life of Brian.” In his tweet, Musk humorously depicted mainstream media characters from the film struggling to maintain composure while reporting on Dogecoin's status among the top ten cryptocurrencies by market capitalization. This lighthearted nod to Dogecoin prompted a swift, albeit temporary, increase in its price. Analyzing the Dogecoin market response reveals a volatile 24-hour trading period. The price faced resistance around $0.0165 before dipping and forming a support base near $0.0155. Despite a modest recovery, it failed to surpass the resistance again, indicating a consolidating market. Despite these fluctuations, DOGE maintains its position among the top ten crypto assets. While the surge was short-lived, it underscored the significant influence of Musk, known for his impact on cryptocurrency markets. Since bringing Dogecoin into the spotlight in 2021 with multiple endorsements, Musk has remained a key figure in its market performance. The meme coin reached its peak following Musk's appearance on “Saturday Night Live,” but has since settled into a lower, yet still considerable, market position. DOGE holds the eighth spot in terms of market capitalization, valued at $22.7 billion. It's worth noting that Musk recently announced plans to introduce a small fee on his social media platform, X, for posting and liking to combat spam from bots. This has sparked speculation about the potential use of Dogecoin as a payment method for these services, although no confirmation has been provided. On another front, Lucie, a content marketer within the Shiba Inu ecosystem, responded to Musk's tweet, suggesting the potential trajectory of Shiba Inu mirroring that of the top ten cryptocurrencies by market cap.
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#write2earn Crypto Market Rebounds: Signs of Recovery After Weekend #Shakeout #altcoins #BullorBear $ETH $SOL $DOGE This weekend's shakeout of altcoin traders and investors seemed necessary. The sharp decline witnessed by most altcoins likely stemmed from heightened tensions in the Middle East. However, the crypto market is showing signs of rebounding, and barring any unforeseen events, a significant upward movement could be in the cards. In the midst of Recovery The crypto market rally appears to be gaining momentum. Bitcoin saw a notable 17.5% reversal over the weekend, briefly dipping below $60,000, but Sunday and Monday have brought about the start of a recovery for both bitcoin and the broader cryptocurrency market. Total Market Cap Trend Takes a Hit The impact of this movement is evident in the Total 3 chart, which represents the combined market capitalization of all altcoins excluding Bitcoin and Ethereum. The trendline was severely disrupted by the dip, yet there's a notable recovery as the altcoin market cap approaches the trendline once again. Potential Bearish Confirmation? Some may interpret this as a bearish development, as the price encounters strong resistance that previously served as support. This could potentially confirm and extend the downward trend unless the price manages to reclaim the trendline and convert resistance back into support. Bullish Cup and Handle Formation Taking a broader view on the weekly timeframe, the outlook appears more optimistic. Support around $645 billion has held firm, and the price has returned above the trendline. From a bullish standpoint, the next objective would be to revisit the $786 billion resistance level. Additionally, a significant bullish signal is the formation of a large cup and handle pattern. While the cup has already formed, the recent dip has initiated the formation of the handle. If the price reaches $786 billion and breaks through the resistance, the cup and handle pattern could unfold, potentially leading to a price target of $1.285 trillion. Hold on tight!
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#write2earn #Solana Network Update: Tackling #Congestion & Enhancing Performance #solanaUpdate #Solanaseason $SOL Version 1.17.31 marks the beginning of a planned series of updates aimed at tackling recent network congestion issues. The Solana network has been grappling with congestion problems over the past few months, particularly amidst the surge in popularity of meme coins, which led to a sharp increase in user activity and a significant rise in demand for network resources. Solana developers have announced a new software update designed to address these congestion issues, which is now recommended for general use by mainnet validators. This update, labeled v1.17.31, contains improvements aimed at easing the ongoing congestion on the Solana Network. Rex St John, head of developer relations at Anza, the team behind Monday's update, emphasized that this release is just the first step in a series of planned updates to mitigate network congestion. Validators, responsible for running nodes or software to confirm transactions and secure the blockchain network, play a crucial role. They must regularly update their nodes to newer releases to effectively manage any issues that may arise during network operation. The surge in user activity, particularly driven by meme coin trading, led to a spike in transactional volumes, reaching as high as $4 billion in March compared to the typical figures of under $500 million per day in 2023. The increased usage of bots also contributed to a rise in "failed" transactions on the Solana network. These failed transactions were flagged by smart contracts as "bad requests," despite being successfully submitted to the network. To address these challenges, the final version of the update prioritizes transactions from reputable validators with significant stakes. This prioritization ensures that validators with higher stakes receive better service quality, preventing lower-quality validators from maliciously overwhelming the network with transactions.
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