Crash in Open Interest Dogecoin’s open interest, a measure of outstanding futures contracts, has taken a nosedive in the past month. From a record high of $1.91 billion in March, it’s now crashed by a staggering 66.5% to just $625.7 million. This drop has brought open interest back to levels not seen since February. Impact…
Despite recent price fluctuations, some analysts are bullish on Bitcoin’s future. Historical Patterns Point to Gains Based on past price movements, analysts believe Bitcoin could surge past $73,800 and reach new highs close to or above $100,000. Key Support Level Holding After a dip to $56,500, Bitcoin has retested a crucial support trend line. This…
Current State of XRP XRP’s price has been stuck in a rut lately, hovering between $0.6 and $0.4 for the past two years. While other cryptocurrencies like Bitcoin and Ethereum have seen impressive gains, XRP has fallen behind. Analyst’s Perspective Crypto analyst Josh Olszewicz believes XRP is “dead” and not worth investing in. He argues…
Google is supporting a new program that will provide $2.7 million in guaranteed income to 225 families in San Francisco who are struggling with homelessness. Program Details The five-year program, called “It All Adds Up,” will give each family $1,000 per month for one year. Participants can use the money for any purpose they choose….
Cryptocurrency trader Rekt Capital believes Bitcoin (BTC) may have reached a market bottom after a deep correction. Deepest Correction in Cycle The recent correction, which saw Bitcoin fall into the high $50,000 range, is the deepest in the current cycle, surpassing the 23% decline in early 2023. Bottoming Out Based on the correction’s depth and…
BNB Analyst DonAlt predicts a breakout for BNB, the native token of the BNB Chain. He believes a dip would be an opportunity to buy, but a drop below $450 would be concerning. The BNB/BTC pair also shows strong dominance. Bitcoin Bitcoin’s behavior around $70,000 and $57,000 will determine its next move. A close above…
Standard Chartered Bank, a major international bank, has issued a warning that Bitcoin’s price could plummet further, potentially reaching $50,000. Factors Contributing to the Decline Macroeconomic factors: Rising inflation and the Federal Reserve’s decision to keep interest rates unchanged are putting pressure on Bitcoin. Crypto-specific factors: Reduced liquidity in the US and outflows from Bitcoin…
Bitcoin Triggering Market Anxiety Cryptocurrency analyst MilkyBull predicts that the Bitcoin price will continue to decline before it rebounds. He believes that the current price drop has caused outflows from Blackrock iShares Bitcoin Trust, a sign of fear in the market. MilkyBull also notes that historically, negative news often precedes a Bitcoin market bottom. Technical…
Cryptocurrency trader Ali Martinez believes that Dogecoin (DOGE) is showing signs of a potential bull run, based on its past price behavior. Historical Patterns Martinez notes that in 2017 and 2021, DOGE broke out of descending triangles on the weekly chart, followed by significant price corrections. In 2017, DOGE retraced 40% before a 982% bull…
Price Drop Sparks Liquidations Bitcoin’s recent dip below $59,000 sent shockwaves through the market. This triggered $120 million in liquidations of futures contracts that bet on a price increase. Not a Mass Exodus Unlike previous selloffs, this liquidation doesn’t indicate a panicked sell-off. Investors are taking a measured approach, suggesting a short-term correction rather than…
