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TheNewsCrypto
TheNewsCrypto
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Solana’s value is declining, with prices nearing the $100 mark. The recent drop is in sync with Bitcoin’s fall from $53,000, leading to widespread liquidations in the crypto market. Solana’s network activity has decreased, with a 30% drop in active addresses from a peak of 1.02 million to around 691,000. Solana has witnessed waning investor interest recently, with prices sliding near key resistance around the $100 threshold. The drop aligns with Bitcoin’s own rejection at $53,000 peaks that triggered cascading liquidations across crypto markets earlier this week. On-chain data now warns of additional downsides as bearish momentum builds. In the past 24 hours alone, crypto exchanges saw total liquidations top $300 million, with bullish traders bearing the brunt at over $220 million in forced sells. Solana itself contributed, with nearly $10 million worth of long positions unwound. The cascade of selling pressure plunged its SOL token from local highs. Solana plunges alongside Bitcoin and Ethereum The recent price slide stems from anxiety amongst investors following the market correction when values neared testing upside barriers. Closely tracking Bitcoin and Ethereum, Solana similarly faced resistance, with both bellwether assets also retracting from their $53,000 and $3,000 ceilings, respectively. On-chain statistics reveal declining network activity for Solana alongside the drop. Active addresses have plunged 30% off their 1.02 million peak in recent weeks to currently sit around 691,000 – indicating fading user demand. Whales may interpret this usage metric as a negative signal, exacerbating volatility. However, a slight silver lining comes via the value transferred on Solana rebounding back above the $1 trillion mark after recently tagging $218 billion lows. The recovery does suggest residual exchange activity and flows, which could stabilize declines. Presently, bears have commandeered the price charts to force SOL below critical support early Thursday. Sellers managed to conquer the key Fib line at $103 to turn that into overhead pressure now. Prices currently trade around $102—down over 6% daily. Absent a swift reclaim of $103, downside projections eye the next demand zone at $93. Any daily close below there risks sparking a capitulation wave towards the crucial $80 floor. But a strong reaction here may stimulate a consolidation between $80-$108 until bulls regain control of the market. To maintain positive momentum before then, SOL needs to defend $100 in the interim while setting up a push back above its 20-day exponential moving average.

about 6 hours ago
Coinpedia
Coinpedia
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The post Solana Faces Decline Toward $100 As Active Addresses Plunge By 30%! Here’s Next SOL Price Level appeared first on Coinpedia Fintech News Solana’s value is witnessing a decline in investor interest, triggered by a drop from a key resistance level. This has plunged investor sentiment by maintaining its price around the $100 threshold. This drop in value follows Bitcoin’s rejection near the $53,000 peak, sparking a series of long liquidations throughout the market. As a result, the current bearish sentiment is supported by on-chain metrics as they indicate that Solana’s decline below immediate support lines might be nearing, with signals pointing towards a bearish pattern.   Solana’s Active Addresses Sees A Steep Decline In the past 24 hours, the cryptocurrency market experienced total liquidations exceeding $300 million, with buyers offloading positions valued at more than $220 million. Solana, in particular, saw long positions worth over $10 million being liquidated. This triggered an immediate selling pressure on the SOL price and plunged it to the support around $100. The recent drop in Solana’s price resulted from investor anxiety following a market correction when it was near its highest values. This decline was brought by Bitcoin and Ethereum’s inability to hold their positions around $53,000 and $3,000, respectively. On-chain data reveals a downward trend in Solana’s active addresses, with a reduction from a high of 1.02 million to 691,000, marking a nearly 30% decrease over recent weeks. This decline in active addresses indicates declining confidence in Solana, potentially plunging whale investors’ trust and SOL price volatility. However, the value transferred on Solana’s network has seen a recovery, bouncing back from a low of approximately $218 billion to surpass $1 trillion. This recovery in transferred value shows a positive buying sentiment towards SOL, possibly stabilizing its price from further declines. What’s Next For SOL Price? Bears currently have the upper hand on the price chart, with sellers aiming to hold the price below the crucial support level in the upcoming hours. However, buyers are putting up a strong fight to prevent a drop below the immediate Fibonacci level. At the time of writing, the SOL price stands at $102, marking a decrease of over 6.2% from the previous day’s price. Should the price not manage to rise above the $103 support line, the next support level is found around the $93 mark. If this level is compromised, SOL’s price might fall to a crucial support level at $80. A robust recovery from $80 could send the price towards the 20-day Exponential Moving Average (EMA). Crossing this level could result in the price consolidating between $108 and $80. For bulls to maintain their dominance, they need to ensure the price remains above $100. Achieving this could set the stage for targeting the subsequent significant resistance level at EMA20 and then the $116 mark. Recently, the long/short ratio for Solana has decreased, now at 0.7562, with 57% of total positions anticipating a drop in its price. 

about 11 hours ago
Sefeoyin
Sefeoyin
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Bitcoin, the world's oldest and most valuable cryptocurrency, has been experiencing a surge in price, surpassing $52,000. However, recent data shows that new Bitcoin addresses that acquired BTC during this rally are now facing significant losses. These addresses hold a staggering $25 billion worth of Bitcoin, and if the price continues to drop, it could trigger a major selloff in the market. In this article, we will delve into the details of this situation, explore the reasons behind the losses, and analyze the potential impact on the Bitcoin market. Fresh Bitcoin Addresses and their Losses According to data from Into The Block, nearly 848,390 new Bitcoin addresses were created during the recent rally, collectively holding around 481,710 BTC. These addresses purchased Bitcoin at an average price of $52,125. However, due to the subsequent decline in the BTC price, these addresses are currently experiencing significant losses. The losses incurred by these addresses could potentially lead to panic selling if the price dips further, resulting in a major selloff in the market. The Potential for a Major Bitcoin Correction Crypto analyst Michaël van de Poppe has suggested that the Bitcoin price could peak between $53,000 and $58,000 before experiencing a 20-40% pullback. The current situation aligns with this analysis, indicating a potential correction before reaching new highs. If the new addresses holding Bitcoin at a loss decide to sell their holdings, it could intensify the correction and push the price below the $50,000 support level. This scenario raises concerns among investors and traders, as it could have a significant impact on the overall market sentiment. Bitcoin Liquidations and Current Market Conditions In the past 24 hours, Bitcoin liquidations amounted to $26.06 million, with the majority of liquidated positions being long positions. However, the drop in liquidations can be attributed to the recent rebound in the Bitcoin price above $52,000. Despite the potential for a major selloff, the overall market sentiment remains optimistic. TradingView has assigned a "Strong Buy" indicator to Bitcoin, and the current price is significantly higher than the 50-day and 100-day Exponential Moving Averages (EMAs). These indicators suggest a strong bullish sentiment in the market, despite the potential for a correction. Long-Term Target for Bitcoin While the short-term outlook for Bitcoin raises concerns, it's important to consider the long-term potential of the cryptocurrency. Analyst Michaël van de Poppe predicts a long-term target of $150,000 for Bitcoin, indicating that investors should consider long positions to realize substantial returns. This long-term bullish sentiment is shared by many experts in the industry, who believe that Bitcoin has the potential to reach new all-time highs in the coming years. However, it's crucial to monitor the market conditions and the behavior of new addresses holding Bitcoin to assess the likelihood of a major selloff. Conclusion The recent surge in the Bitcoin price has attracted a significant number of new addresses that acquired BTC at a premium. Unfortunately, these addresses are now facing substantial losses due to the subsequent decline in the price. If these addresses decide to sell their holdings, it could trigger a major selloff in the market, potentially pushing the Bitcoin price below the $50,000 support level. However, it's important to keep in mind that Bitcoin has shown resilience in the face of market fluctuations and has a long-term bullish outlook. Investors and traders should closely monitor the market conditions and the behavior of these new addresses to make informed decisions regarding their Bitcoin investments. Disclaimer: The information provided in this article is for informational purposes only. It should not be considered as financial or investment advice. The author and the publication do not hold any responsibility for any financial losses incurred as a result of the information presented in this article. #Write2Earn #BTC‬ #TrendingTopic

1 day ago
BlockchainReporter
BlockchainReporter
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Bitcoin’s price continues to hold its upward trajectory, hovering around the $52,000 mark, triggered by investors’ bullish hopes sparked by positive ETF-related on-chain data. However, the growing appetite for BTC purchases signals caution, suggesting an impending downturn might be on the horizon, a sentiment echoed by several on-chain indicators pointing towards an overheated market atmosphere. Furthermore, stablecoin holders with portfolio sizes between $10,000 and $100,000 are increasingly seen as unexpected predictors of Bitcoin’s upcoming price fluctuations. Market Goes In A Profit-Taking Mood Over the last 24 hours, the crypto market witnessed a surge in liquidations, with the total amount surpassing $152 million worth of positions. Notably, BTC price saw a liquidation of nearly $25 million, out of which, long-position holders liquidated around $20 million, suggesting a profit-booking sentiment among holders near the market top of $52K. Small to mid-tier stablecoin holders, wielding portfolios ranging from $10,000 to $100,000, have influenced Bitcoin’s price swings. Over the past two weeks, these traders have collectively increased their holdings in USDT by $44.3 million, while simultaneously reducing their stakes in USDC by $20.6 million. This move in stablecoin could be influencing Bitcoin’s buy and sell points. Small moves from mid-tier traders often work as excellent signals for spotting market pivots from the crowd. In the past 2 weeks, #stablecoin holders with $10K to $100K: Added $44.3M in $USDT Dropped $20.6M in $USDC Link to explore our chart: https://t.co/5AfbILqe1F pic.twitter.com/82RhKnqXzI — Santiment (@santimentfeed) February 20, 2024 The recent trend shows these traders engaging in a strategic exchange between stablecoins and Bitcoin, suggesting an approach to capitalizing on market volatility. An increase in stablecoin holdings implies that these traders are taking profits from Bitcoin’s rallies, moving their gains into stablecoins as a hedge against potential market downturns. This action often brings market tops, where traders anticipate a short-term decline in Bitcoin prices. Conversely, a decrease in stablecoin holdings among this group points to a growing confidence in Bitcoin’s short-term appreciation. By converting stablecoins into Bitcoin, traders are effectively buying the dip, positioning themselves to benefit from anticipated price increases. This behavior reflects a bullish sentiment on Bitcoin, suggesting that these traders see potential for gains in the near term. Traditionally, market watchers have focused on the actions of large-scale investors, or “whales,” to predict price movements. However, the collective behavior of smaller traders is proving to be an equally potent predictor of market trends However, the current sentiment for Bitcoin remains bullish as CoinShares’ recent report highlights a record $2.45 billion inflow into crypto funds from major asset managers like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares last week, predominantly driven by new U.S. Bitcoin ETFs. Year-to-date, digital asset investments have reached $5.2 billion, pushing the assets under management to a peak of $67 billion, the highest since the 2021 bull market peak, according to James Butterfill, Head of Research at CoinShares. Bitcoin Needs A Retest To Stabilize Sentiment Several on-chain indicators are currently pointing towards an overheated sentiment around the BTC price, hinting at the possibility of a price adjustment. A key metric among these, the NVT ratio (Network Value to Transactions), has seen a significant rise, now at 71.09. This suggests that despite the increase in Bitcoin’s network value alongside its price, the transaction volume hasn’t risen much, signaling a potential overvaluation of the asset. Additionally, the Netflow metric has seen a notable uptick, shifting into positive territory. This signifies that Bitcoin inflows are surpassing outflows, resulting in a growth of exchange reserves. This trend could signal an upcoming price correction for BTC. Nonetheless, these corrections could potentially trigger buying momentum near the dip. For a downward trend to be firmly established, sellers must drive the price beneath the 20-day exponential moving average, currently at $51,909, which could initiate a slide towards the $50K mark. Conversely, for buyers to aim for a rise to $55,000, overcoming the resistance at $52,800 is essential. Meanwhile, to reverse the current upward trend, bears need to force the price below the moving averages, setting the stage for a potential decline to the breakout level of $48,400. Although bulls are expected to defend this level, if overcome, the price might fall to $47,000, with a further drop to $44,900 being a possibility.

1 day ago
CryptoPotato
CryptoPotato
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The weekend isn’t treating Bitcoin’s price right as it has tumbled below $51K, erasing some of the gains achieved during the rally in the past few days. As seen in the chart below, the price took a turn for the worse in the past few hours. Source: TradingView Data from CoinGlass reveals that this has also sent ripples through the derivatives market, liquidating a total of $122 million in the past 24 hours. As it’s expected, the volume of these moves is significantly lower compared to that of the rally during the week. The cumulative trading volume across all exchanges in the past day is just shy of $70 billion, while it topped $100B during the previous days. 85% of the liquidated positions were long, and Binnace accounts for almost half of all the liquidations. The post Bitcoin Tumbles Below $51K as Daily Liquidations Top $100M appeared first on CryptoPotato.

4 days ago
LONG BTC
LONG BTC
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Hey BTC enthusiasts! 🎉 Did you notice Bitcoin's price took a little dip this weekend, falling below $51K? 😮 Don't worry, it's just erasing some gains from the recent rally. Check out the chart below to see the price drop in the last few hours. 👇 Source: TradingView CoinGlass data shows this also affected the derivatives market, with $122 million liquidated in the past 24 hours. 💥 However, the volume of these moves is much lower than the rally during the week. The total trading volume across all exchanges in the past day is just under $70 billion, while it topped $100B in previous days. 📉 Interestingly, 85% of the liquidated positions were long, and Binance accounts for almost half of all the liquidations. Keep an eye on the market, and stay optimistic about Bitcoin! 🚀

4 days ago
ju哥
ju哥
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Last night, the U.S. Producer Price Index (PPI) was released. The unexpected rise exceeded expectations, causing U.S. Treasury yields to surge again. The three major U.S. stock indexes collectively closed down, and market sentiment turned from high to partial panic. From my personal point of view, the recent announcements of US January data are not ideal and may bring a washout to the market. First of all, U.S. Treasury bonds and cryptocurrencies are essentially competitors on the safe-haven asset track. The renewed surge in U.S. Treasury yields indicates that hot money has returned to U.S. bonds. In the same way, hot money in cryptocurrencies is flowing out. Secondly, after the CPI data in January exceeded expectations, U.S. stocks plummeted collectively, and market sentiment began to cool down. However, unexpectedly, the U.S. stock market subsequently rose in a retaliatory manner, and the cryptocurrency took advantage of this retaliatory rise to break through the 52,000 mark. Finally, Bitcoin has been trading sideways at 52,000 for a long time, and its rise has been blocked several times. This position is destined to be the high point of this cycle. To sum up, there is a high probability that the cryptocurrency will go through a downward correction in the future. We will look at 50,000 and 48,000 in the short term, and 46,000 in the long term. Once 46,000 falls, this bull market will be over. There is a high probability that altcoins will undergo a wave of bloody liquidations. If there is a weathervane for the direction of the cryptocurrency market, it must be altcoins. In the early stage of the rising cycle, altcoins tend to be the first to see the water coming and go up collectively. In the middle of the cycle, altcoins rose in a step-by-step manner. At the end of the cycle, altcoins began to decline, and then plummeted, completing the closed loop of the cycle. Regardless of whether the market is bullish or bearish, altcoins

4 days ago
FXstreet
FXstreet
Solana network outage provokes upwards of $2 million in long position liquidations
15 days ago
Learn_With_Fullo
Learn_With_Fullo
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The leading cryptocurrency of all time, Bitcoin, is finally gaining its lost momentum back. The crypto is up 2.77% in the last 24 hours, breaching the highly anticipated $50,000 mark. After encountering a tumultuous start at the beginning of the year, the latest stats concerning BTC look green and bullish. However, why is Bitcoin rallying in green today? What’s Making Bitcoin To Rise?In the early hours of Wednesday morning,  Bitcoin was trading at $50,000, a highly anticipated benchmark that crypto enthusiasts had been longing to witness for a very long time.However, an explosion or influx of funds pushed BTC to cross the threshold of $51,000. The sudden change left millions of short positions liquidated. Per the data from Coinglass, in the last hour, the total number of short liquidations exceeded $33 million, whereas the long liquidations were merely $400K. Following Bitcoin’s lead, other major altcoins, including Ethereum, Doge, and Shiba Inu, followed suit, trading at $2,750, $0.08314, and $0.000009637, respectively. Celebrating the BTC winning streak, Bitcoin enthusiasts on X celebrated the cryptocurrency’s V-day ascent with great joy and happiness. Will Valentine’s Day’s Be Bullish?The cryptocurrency world is full of exciting surprises, concepts, and notions. One such popular notion propagates Bitcoin’s bullish price rally, especially on Valentine’s Day. It has generally been observed that Bitcoin’s trading volume and price have always noted an upward ascent on Valentine’s Day. BTC’s breaking its sluggish streak today to cross the highly anticipated $51,000 threshold, especially on Valentine’s Day, speaks volumes about this popular notion. Since 2015, analysts have observed Bitcoin’s robust performance on every Valentine’s Day, solidifying the notion of its positive V-Day performance. It’s not just with Bitcoin; the reports suggest that the same ascending pattern can be observed for other cryptocurrencies as well, notably for XRP and Ethereum. #BTC #dyor

8 days ago
Coinpedia
Coinpedia
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The post Bitcoin Price Hits $51K; Is $55K Next Stop? appeared first on Coinpedia Fintech News The Spot Bitcoin Exchange-Traded Fund (ETF) has made its imprint on US stock markets, giving the Bitcoin community hope. After months of skepticism, the digital currency’s $50,000 price is a relief. As a result, the rising BTC price has steered the market into extreme greed, indicating the chances of significant volatility in the coming hours. This upsurge is due to many factors like ETF inflows, an imminent Halving event, and strong US stock market performance.  Bitcoin Price Hits $51K In the past four hours, the price of Bitcoin has shown signs of going up. It went through the roof and now stands at over $51,000, a gain of more than $1500. BTC is now worth $51,200, which is about 2.4% more than it was an hour ago. Coinglass data shows that short buyers were caught off guard by this sudden move. In the last hour, there were more than $33 million in short liquidations and only $400K in long liquidations. The truth is that 97% of all leveraged trades that were closed in the last 4 hours were short. At this point, it looks like buyers are in charge of the market. Will BTC Touch $69K?  This rally, accompanied by an “extreme greed” reading on the Crypto Fear and Greed Index, signals widespread optimism but also sparks concerns about potential overheating. The index’s surge to 79, its highest since Bitcoin’s peak at $69,000 in November 2021, reflects euphoria among investors, potentially leading to risky decisions.  Bitcoin’s impressive 15% gain year-to-date further fuels this optimism, showcasing a sustained bullish trend following a volatile 2023. Analysts attribute this surge in part to the recent launch of spot Bitcoin exchange-traded funds (ETFs) in the US, offering a regulated entry point for investors and potentially attracting fresh money into the system. Despite Bitcoin’s doubled value over the past year and the influx of new investors, caution is advised by financial experts. The “extreme greed” reading serves as a cautionary signal against irrational excitement, emphasizing the importance of conducting thorough research and understanding personal risk tolerance. As Bitcoin trades around $49,667, its future trajectory remains uncertain. While some view this rally as indicative of stability and sustained growth, the cryptocurrency market’s inherent volatility means outcomes are unpredictable. Only time will reveal whether the current optimism translates into long-term prosperity or a fleeting market blip.

8 days ago
Crypto Web3 Today
Crypto Web3 Today
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Bitcoin (BTC) to Hit $50K After Bullish Weekly Divergence, Says Top Analyst. Bitcoin's (BTC) price has garnered significant attention recently as it edges closer to the $50,000 mark, driven by a bullish weekly divergence. Top crypto analyst Michaël van de Poppe took to X (formerly Twitter) to highlight Bitcoin's impressive trajectory, noting its recent break above the $48,000 barrier. The renowned analyst remarked that the Bitcoin price is looking at the resistance, highlighted by a massive weekly candle that had pushed Bitcoin back above $48,000. He expressed his interest in seeing what the price would do around $50,000 in the upcoming 1-2 weeks, thereby underscoring the critical resistance level that Bitcoin faces. The anticipation around Bitcoin's price movement is further intensified by the upcoming Bitcoin halving event slated for April. Historically, halving events, which reduce the reward for mining new blocks by half, thereby limiting the supply of new coins, have preceded bullish runs in Bitcoin's value. Van de Poppe has set his sights on the $50,000 target for Bitcoin, attributing his prediction to the halving event's impact. Bitcoin price movements. As of the latest update, Bitcoin's price is $48,011, experiencing a slight downturn of 0.36% over the last 24 hours. However, the week paints a more positive picture, with an 11.19% increase in its value. The trading volume for Bitcoin has also seen a rise, up 7.08% in the last 24 hours, with a total of $20,347,457,133 circulating in trades. In addition, recent statistics from CoinGlass indicate that Bitcoin saw $31.48 million in liquidations over the past day. This figure includes $18.59 million in long liquidations and $12.90 million in short liquidations, indicating a mixed reaction from Bitcoin traders as they navigate current market conditions. The cryptocurrency community is closely watching Bitcoin's performance as it approaches the significant $50,000 threshold. With the halving event on the horizon, many are optimistic about the potential for further gains.

10 days ago
Todayq News
Todayq News
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Bitcoin (BTC) maintains its strong upward momentum by attaining the much awaited $50,000 price level. Data depicts that this is the first time since December 27, 2021, that BTC registered to trade over the $50k mark. However, BTC price surge led the entire crypto market to print green indexes. It is expected that this surge came in due to hopes of future interest rate cuts aligned with the approval for spot crypto exchange-traded funds (ETFs). Bitcoin pushing crypto market up? The cumulative digital asset market cap surged by more than 4% over the last day. It is standing at around the $1.87 trillion mark. It anticipated that the total crypto market cap would reach $2 trillion soon. Bitcoin price gained more than 17% in the last 7 days. BTC is trading at an average price of $50,106, at the press time. It is important to note that Bitcoin’s 24 hour trading volume jumped by around 104% to stand at $39 billion.  This huge surge in trading volume depicts that traders are jumping in to place their bets on Bitcoin. Coinglass data shows that more than 58,000 traders were liquidated in the last 24 hours. While total liquidation of both long and short positions stood at around $184 million. The largest single liquidation order recorded by Coinglass was $3.14 million. It occurred on Bitmex for the LINK/USD pair. Bitcoin, alone saw liquidations of around $70 million in the last 24 hours. However, $55 million worth of liquidated bets turned out short positions. This suggests that traders were hoping for a Bitcoin price drop, meanwhile, the biggest crypto had some other plans. Crypto whales on the way According to data from IntoTheBlock, approximately 375K addresses purchased around 119.48K BTC (approx worth $6 billion) at an average price of $50,227.81. However, these addresses are currently at a loss, potentially creating selling pressure when their positions break even. Stablecoin market caps have grown significantly by adding $11.4 billion in the last four months. Data depicts that Whale wallets holding $5 million or more have accumulated 2.32% of the top six stablecoins in just four weeks. The positive momentum in the crypto market has also impacted related stocks. Coinbase (COIN.O) share price recorded a surge of around 5%, while Riot Platforms and Marathon Digital were up by over 10% and 11%, respectively. Ethereum, the biggest altcoin, also reaped the positives of BTC surge as ETH price jumped by 6% in the last 24 hours. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

9 days ago
Btcnews99
Btcnews99
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💥💥The Price of Bitcoin Soars Above $50,000 for Three Main Reasons Place Bitcoin ETF Inflows No. 1 The noteworthy increase in spot Bitcoin ETF inflows, which is accompanied by rising institutional demand, has had a major impact on the price of Bitcoin's ascent beyond $50,000. While ETF inflows for BlackRock, Fidelity, and the other investors continue to be enormous, Grayscale's outflows are still decreasing. #2 The Market for Options Investor positioning for higher prices has been evident in the options market, which has been a strong sign of positive mood. A noteworthy pattern in the market was seen by Kelly Greer of Galaxy Digital, who said, "It's happening again, bullish options positions building around a strike, it was 40k in November, now it's 50k." 50–75k calls have been issued between April and June, and 2,000 bitcoin have been exchanged in the last two hours. #3 The Futures Industry Additional evidence of bullish momentum has been shown by the futures market, which has seen favorable swings in premiums and a noticeable rise in open interest. "Bitcoin is driven towards $50,000 with a tailwind from the futures markets," noted cryptocurrency expert Furkan Yildirim. Open interest has reached its highest point since December 2021, and premium has moved into positive territory. Yildirim also emphasizes the state of the market, saying that "further [short] liquidations could take place above $51,000 and momentum remains positive." He does, however, issue a warning that it could be advantageous for the market's health to see a countermovement to adjust overleveraged long holdings. "But it wouldn't hurt to launch a countermovement to unload heavily leveraged long positions." #Write2Earn #BTC; #btcnews99 #BTCAlert #btc50k

9 days ago
Crypto Web3 Today
Crypto Web3 Today
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XRP Witnesses 68% Volume Spike as XRP Price Takes Bear Side. Recent data from CoinGlass indicates a notable uptick in XRP derivatives trading, with a significant 68.2% increase observed over the past 24 hours, totaling $867.89 million. This surge in trading activity is complemented by CoinMarketCap's data of a 24-hour spot market volume for XRP reaching $837.35 million. As a result, the combined trading volume for XRP has exceeded the billion-dollar mark, reflecting a resurgence of interest in this particular digital asset. However, despite the apparent surge in trading volume, XRP's price trajectory tells a more nuanced story. Over the past four hours, amid heightened trading activity, XRP has found itself among the top liquidated assets on the crypto market. Approximately $190,000 worth of XRP positions were liquidated during this period, with an overwhelming 99.4% of these liquidations representing long positions. The primary factor influencing this imbalance is the recent decline in XRP's price. After encountering resistance at around $0.535, XRP has struggled to sustain upward momentum. While there were modest gains recorded on Saturday, with XRP's price increasing by just over 2.5%, subsequent days have seen a downturn, signaling bearish sentiment prevailing on the market. Looking forward, the future trajectory of XRP remains uncertain. However, prevailing market trends suggest a continuation of bearish sentiment. Recent price action underscores this outlook, indicating a market heading south. In summary, while the spike in trading volume may initially appear promising for XRP, the concurrent bearish price movement presents a nuanced perspective.

10 days ago
Coinpedia
Coinpedia
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The post Bitcoin Smashes Through $50,000 Milestone Amid Rising FOMO! Will Bulls Hold $50K Or Trigger A Correction? appeared first on Coinpedia Fintech News After going through a prolonged bear market and tumbling investor faith, Bitcoin is on the edge of a robust comeback. In the past few hours, the BTC price has surged impressively from a low of $47,500, reaching the eagerly awaited $50,000 milestone, due to substantial inflows into Bitcoin ETFs over the last week. This influx has skyrocketed market confidence. Yet, amidst this rally, there’s speculation among analysts about the continuity of this surge, given the possibility of a large-scale sell-off by numerous holders poised to cash in on their profits. Bitcoin Sees Billions In ETF Inflows Although Bitcoin remains below its 2021 high of nearly $69,000, it has been on an upward trajectory, even amid corrections influenced by ETF activity. This week, it broke through the $48,000 and $49,000 marks, reaching heights not seen in almost two years. Now, it has broken above the much-anticipated $50K mark, aiming to touch its ATH this year. In the past hour, the Bitcoin market experienced a significant shakeout, with total liquidations amounting to approximately $25.3 million. Of this, sellers saw around $24.5 million of their positions cleared. The recent uptick in Bitcoin’s price is supported by a significant influx of funds into spot Bitcoin ETFs last week, with more than $1.1 billion in new funds entering the market. This surge comes as the outflows from established funds, like the Grayscale Bitcoin Trust (GBTC) and ProShares’ futures-based ETF, begin to decelerate. Analysts and market experts are forecasting a climb above $50,000 and potentially reaching a new peak before the halving event, which is now just over 65 days away. The mood regarding Bitcoin hovering around the $50,000 mark is divided, with several analysts eyeing correction as short-term holders are set to liquidate. Surpassing specific technical barriers, like the Fibonacci retracement level around $51.2K, might trigger additional surges. Nonetheless, the market needs to prepare for different outcomes, including possible retracements to retest support zones as long-squeeze could be triggered anytime. Bitcoin’s Correction Begins With Rising Sell Volume Bitcoin is witnessing a correction as sellers increasingly opened short-positions at around $49,994-$49,999, triggering a minor pullback toward $49,400. However, Coinbase data shows that the BTC price touched the $50K mark before a correction.  In November 2021, during the previous bull market, Bitcoin reached its peak value of $69,044. The total market capitalization of all cryptocurrencies exceeded $3 trillion at that time. As of the latest update, the global cryptocurrency market capitalization stands at $1.9 trillion. In recent minutes, the BTC price has seen a decrease in its long/short ratio, falling below 1 to stand at 0.8349. This indicates that selling volume is surpassing buying activity, as a greater number of traders are initiating short positions in anticipation of a price adjustment from the $50K high. At present, 54.5% of all positions are betting on a price drop, whereas 45.5% are forecasting a rise in price. 

9 days ago
Todayq News
Todayq News
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Ripple’s native crypto, XRP is sliding on a downtrend despite positive momentum in the crypto market. The cumulative digital asset market capitalisation is nearing the $2 trillion mark but XRP seems to losing grip here. XRP price action suggests that Ripple’s crypto is down due to legal complications it’s facing from the US Securities and Exchange Commission (SEC). XRP to bleed more? According to the data provided by WhaleAlert, crypto whales had moved more than 200 million XRP tokens (approx worth $100 million) in multiple transactions over the last 24 hours. The biggest transaction recorded by the tracker has been moving 100 million XRP (approx worth $52.5 million) from the Unknown wallet to the Ripple linked wallet. Data shows that an address linked to Ripple transferred 80 million XRP (approx worth $42 million) to an unknown wallet. However, a crypto whale moved 27.3 million XRP tokens (Approx worth $14.4 million) to the crypto exchange Bitstamp in a single transaction. This suggests that the whale made a smart move to dodge the further price drop. XRP is on constant drop printing red indexes on all the matric expect 7 days chart, XRP price gained by around 3% in the last 7 days. However, its price dropped by more than 3% in the last 24 hours. It is trading at an average price of $0.51, at the press time. Ripple’s native crypto’s 24 hour trading volume recorded a surge of 8% to stand at $765 million. The crypto holds the sixth position on CoinMarketCap with a live market cap of $28.12 billion. A silver lining for Ripple? However, despite increased trading activity, XRP’s price has experienced fluctuations. Recent data indicates that XRP was among the top liquidated assets in the crypto market. Over the last four hours, around $190,000 worth of XRP positions were liquidated, with 99.4% of these liquidations representing long positions. Ripple’s Chief Legal Officer, Stuart Alderoty, has been vocal about his criticism of SEC Chair Gary Gensler’s leadership. Alderoty recently highlighted speculation about a potential exodus within the commission. He questioned whether lawyers from the SEC’s crypto asset and cyber unit would be willing to blow the whistle on Gensler’s “controversial leadership.”  Alderoty seemed to be triggered by the possibility of them sharing details with the SEC’s Office of Inspector General or the House Committee on Oversight and Accountability. He hinted at a possible strategy to encourage whistleblowing against Gensler. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

10 days ago
Nadyisom
Nadyisom
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  1. In the last 24 hours, a total of 43,149 traders had their positions liquidated, which means they lost their investments. 2. The overall amount of money lost in these liquidations is $150.99 million. 3. Out of this total, approximately $115.66 million came from short positions, which are bets that the price will go down. 4. The remaining $35.70 million came from long positions, which are bets that the price will go up. 5. Specifically, around $60 million were lost in short positions related to Bitcoin. 6. The lesson here is that it's not advisable to bet against this market by taking short positions if you want to make money #Write2Earn
12 days ago
Sefeoyin
Sefeoyin
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The cryptocurrency market has been abuzz with the recent surge in the price of Bonk (BONK), a meme coin based on the Solana blockchain. Over the past two days, the price of Bonk has skyrocketed by an impressive 30%, accompanied by a surge in trading volumes. However, as with any volatile market, traders and investors are cautious and wary of potential pullbacks. In this article, we will delve into the reasons behind the recent rally of Bonk, analyze the factors that may contribute to a potential price correction, and explore the broader implications for the meme coin market. Bonk's Rally and Trading Volumes Bonk's recent price surge can be attributed to a combination of factors, including increased trading volumes and positive market sentiment. The meme coin's price rally coincided with a broader recovery in the crypto market, with Bitcoin briefly surpassing the $48,000 level. This overall market sentiment has provided a favorable environment for Bonk to experience significant upward momentum. Additionally, the surge in trading volumes indicates growing interest and participation from traders. Breakout from the Descending Channel One of the key technical indicators that caught the attention of high-profile traders is Bonk's breakout from a long-running descending channel. This breakout suggests a potential reversal in the coin's price trajectory and has fueled optimism among Bonk holders. Other technical indicators, such as Bollinger bands and RSI, also support a bullish price action. However, it is important to note that technical indicators alone do not guarantee sustained price growth and should be considered in conjunction with other factors. Profit Booking and Potential Pullback While the recent rally has generated excitement among Bonk holders, traders have started to book profits on not only BONK but also its derivative token, 1000BONK. This profit booking could potentially lead to a pullback in Bonk's price as investors take their earnings off the table. It is worth noting that significant short liquidations in the broader crypto market have already occurred, and subsequent liquidation of long positions could signal a reversal or correction in Bonk's price. Other Factors Influencing Bonk's Price Apart from the technical indicators and profit booking, there are several other factors that have contributed to the recent rally in Bonk's price. Bonk announced the introduction of BONKrewards by Armada, which allows Bonk holders to earn rewards from community-built BONK Eco products such as BonkBot, SVB, and BONKswap. These developments have increased the bullish sentiment among Bonk holders and further propelled the coin's price upward. Additionally, recent developments such as BONKsquares, validator addition, and Bonk Art have also contributed to the overall market enthusiasm surrounding Bonk. Potential Risks and Market Volatility While the recent surge in Bonk's price has undoubtedly excited investors, it is crucial to acknowledge the risks and inherent volatility associated with meme coins and the broader cryptocurrency market. Meme coins, in particular, are often subject to rapid price fluctuations and speculative trading activity. Traders and investors should exercise caution and conduct thorough research before making any investment decisions in this space. Additionally, regulatory developments and market sentiment can significantly impact the price trajectory of meme coins, making them inherently risky investments. Conclusion The recent surge in Bonk's price has captured the attention of traders and investors alike. The breakout from the descending channel, increased trading volumes, and positive market sentiment have contributed to the coin's upward momentum. However, traders have started to book profits, indicating a potential pullback in the near future. It is important to approach meme coins with caution, considering the inherent volatility and speculative nature of these assets. As the market continues to evolve, monitoring key technical indicators, market sentiment, and regulatory developments will be crucial in navigating the meme coin landscape. #Write2Earn #TrendingTopic

12 days ago
Coinpedia
Coinpedia
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The post Ex-Ripple Director Teases Big News: XMR Tanks on Binance Delisting As Traders Turn To KangaMoon (KANG) appeared first on Coinpedia Fintech News The Ripple (XRP) community is abuzz with the news of an ex-director teasing a major new in the coming days. On the flip side, Monero (XMR) has been hit with a 35% plunge as Binance delists the privacy-centric altcoin. Amidst this decline, KangaMoon (KANG) has emerged as one of the best DeFi coins for investors. Continue reading to find out why.  Ex-Ripple Director Teases Big News for XRP Despite being one of the top altcoins, Ripple (XRP) has struggled with bearish sentiment for the past few months. Sean McBride, a former Ripple director, has recently teased an upcoming “big news” sparking excitement in the XRP community. The teaser comes amidst reports that Ripple is preparing to expand into the U.S. market. The re-entry into this multi-trillion-dollar payment market may provide enough momentum to spark the XRP bulls back into action. The Ripple coin recently retested a 10-year support level, as reported by J.D. The crypto analyst is optimistic that this could see the price of XRP rally by up to 39x in 2024. If this happens, the altcoin could surge to a new ATH above $19. Monero (XMR) Tanks 40% Amidst Delisting From Binance Monero (XMR), the leading privacy crypto, has recorded a 40% price drop. The cryptocurrency price fell from a weekly high of $170.37 to a low of $99.05. As a result of this price plunge, XMR traders have suffered liquidations exceeding $4.59 million. Binance’s announcement to delist all Morning trading pairs on February 20th prompted the significant fall. Binance recently announced that it would be removing the privacy-focused Monero, along with three other coins, from its listings.  In addition to XMR, Aragon, Multichain, and Vai are the other three privacy coins that will be delisted. Despite the sell-off, there has been a recent recovery in price. XMR has increased from $100 to a high of $127, crossing the key $122 support level. KangaMoon (KANG) Sees Massive Surge in Interest While one of the top altcoins, Monero, struggles, the new kid on the block, KangaMoon (KANG), has been enjoying a surge in investor interest. KangaMoon has piqued the interest of the crypto community with its new approach to the meme coin space that promises more returns than both XRM and XRP.  KangaMoon is likely to outperform the rest of the crypto market because it solves the key meme coin problem, utility. Ranked as one of the best DeFi projects for 2024, KangaMoon is establishing a social-fi ecosystem to cater to the needs of meme coin enthusiasts.  The project will encourage community members to take part in challenges, tasks, competitions, and other unique events. Participants in these activities can earn cash, KANG tokens, and other digital assets.  KangaMoon’s tokenomics are also a huge improvement over other memecoins. Unlike Dogecoin, which has no limit on token supply, KangaMoon has one billion tokens accessible upon launch. To further enhance the long-term viability of KANG, the team has incorporated a burn mechanism into KangaMoon.  As the token supply reduces, scarcity would drive the price of KANG higher. KangaMoon is currently priced at $0.005 per coin in its initial ICO stage, but has been forecasted to surge up to 100x in 2024. This gives it the edge over XRP and XMR as the best altcoin to buy in 2024. Discover the Exciting Opportunities of the Kangamoon (KANG) Presale Today! Website: https://Kangamoon.com/ Join Telegram Community: https://t.me/Kangamoonofficial

12 days ago
Coinpedia
Coinpedia
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The post Terra Luna Classic Gains 16% In A Week Despite Tumbling Open Interest! Here’s The Next LUNC Price Level appeared first on Coinpedia Fintech News The altcoin market is gaining momentum as Bitcoin’s recent inactivity has ended with significant surges in the past 48 hours, with the BTC price rising above $47.5K. Daily liquidations have exceeded $154 million. This has revived the LUNC price and it is facing a surge in buying demand despite shaky open interest. Additionally, recent network developments have triggered a wave of short-liquidations for Terra Luna Classic price. LUNC Records 16% Gain In A Week According to Coinglass data, the price of LUNC experienced a total liquidation of nearly $35,000 in the past 24 hours, with sellers accounting for approximately $23,000 worth of positions liquidated. Terra Luna Classic has regained momentum following the market’s recovery, posting a gain of over 16% in the last seven days. This surge was sparked by the passing of a crucial proposal by the community. The community voted in favor of implementing mandatory know-your-customer (KYC) procedures for all L1 developers, as an additional security measure amidst efforts to enhance blockchain development by welcoming third-party developers. This announcement was reported on February 8. Following the approval of the proposal, each developer will be required to undergo the KYC process before commencing work on the chain. Additionally, any new member added to the team after the proposal’s passage must also complete the KYC process. These safety and security measures are implemented when new developer groups propose to work on the chain. Specific details will remain undisclosed and will only be disclosed in the event of legal action. Nevertheless, despite the rising bullish market sentiment, the open interest in LUNC price is declining, having fallen from its peak of $10.7 million to a recent low of $8 million. Moreover, the long/short ratio is experiencing a significant decline, touching 0.4489, indicating that 69% of total positions are inclined towards anticipating a price decline. What’s Next For LUNC Price? The price of LUNC continued its surge, marking a 16% gain for the week. However, this upward momentum is struggling near $0.000114 as sellers increase their dominance. Presently, LUNC trades at $0.00011, reflecting an increase of over 0.8% from yesterday’s rate. Currently, bulls are aggressively defending against a decline below $0.0001, recognizing that a drop below this level would boost sellers’ positions. Amid this, bears are exerting pressure by pushing the price below the EMA20 on the 4-hour price chart. The 20-day EMA is stabilizing around $0.000108, and the Relative Strength Index (RSI) consolidates around the midline. This suggests the trading range may hover around the bearish zone of moving averages. If buyers succeed in sending the price above $0.000115, a surge towards $0.00013 becomes plausible. Conversely, a drop below the moving averages could trigger a decline to $0.00009.

12 days ago

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