A well-respected trader known for accurately predicting the May 2021 Bitcoin crash has issued a warning about a potential correction. Trendline Break According to Dave the Wave, a pseudonymous analyst with 146,000 followers on X, Bitcoin’s bull market trendline is breaking, indicating a potential move to the downside. Support Levels The analyst predicts that Bitcoin…
Crypto analyst TechDev believes altcoins are on the cusp of a significant rally, with Bitcoin’s dominance set for its biggest drop in four years. Bitcoin Dominance Weakness TechDev’s analysis shows a bearish divergence on the five-day Bitcoin dominance chart, indicating that Bitcoin is losing momentum against altcoins. He expects this divergence to lead to a…
Whale Traders in Risk-Averse Mode According to Ki Young Ju, CEO of CryptoQuant, the largest Bitcoin (BTC) traders are now adopting a more cautious approach. The interexchange-flow-pulse (IFP) indicator, which tracks the flow of BTC between spot and derivatives exchanges, suggests that whales are entering “risk-off mode.” When traders deposit assets into derivatives exchanges, they…
Miner Exodus Since the Bitcoin halving in April, miners have seen their earnings cut in half. This, combined with low revenue, has led to a mass exodus of miners, especially those with less efficient equipment. Impact on Bitcoin Price The sell-off of over 30,000 BTC by miners has contributed to Bitcoin’s price drop to around…
Kariya’s Farewell Kanav Kariya, the former president of Jump Crypto, announced his resignation after six years with the company. He expressed gratitude for his time at Jump and confidence in its future. CFTC Investigation Kariya’s resignation coincides with an ongoing investigation by the Commodity Futures Trading Commission (CFTC) into Jump Trading Group’s crypto market activities….
Market Sentiment and Analyst’s Prediction Despite recent declines, cryptocurrency analyst Captain Faibik predicts a significant bullish wave for Bitcoin. He believes that BTC could see a 30-40% surge in the coming weeks. Technical Analysis Faibik’s analysis suggests that Bitcoin has been consolidating between $60,000 and $70,000 for the past four months. A breakout above $70,000…
June has been a rough month for Bitcoin investors, with the price taking a nosedive. Here’s why: Miners Sell-Off Bitcoin miners have been selling off their Bitcoin at an alarming rate. They’ve sold over $2 billion worth of BTC in the past month, the fastest pace in over a year. This sell-off is partly due…
Crypto analyst Jason Pizzino believes Ethereum (ETH) is setting up for a potential rally. Key Indicator: Average True Range (ATR) Pizzino highlights ETH’s Average True Range (ATR) as an indicator suggesting a breakout is imminent. ATR measures volatility by showing an asset’s trading range over a specified period. Triangle Formation Pizzino observes that ETH is…
Veteran crypto investor Arthur Cheong believes the crypto market may be entering a new phase of growth, similar to the S&P 500 after the 2008 financial crisis. Maturing Market Cheong suggests that the extreme volatility and deep drawdowns that have characterized crypto in the past may become less frequent. Instead, he predicts a more stable…
The Fantom Foundation has pledged 200 million FTM tokens to support the launch of Sonic, the network’s new high-throughput blockchain. Support for dApps and Partners The foundation aims to accelerate the adoption of decentralized apps (dApps) and other partners on the Sonic network. Sonic is designed to link to Ethereum, providing high-speed transactions. Investment Commitment…
