Outflows Reach $1.57 Billion Cryptocurrency analyst Ali Martinez has reported significant Bitcoin (BTC) outflows from exchanges, totaling over $1.57 billion in the past week. This suggests that investors are moving their BTC off exchanges, potentially signaling increased confidence in the digital asset. Network Activity Surge Martinez also observed a surge in daily Bitcoin addresses, breaking…
Aptos to Outperform Solana BitMEX co-founder Arthur Hayes believes Aptos (APT), an Ethereum competitor, will surpass Solana (SOL) in this market cycle. He predicts that Aptos could become the second-largest layer-1 blockchain within the next one to three years. Memecoins Here to Stay Hayes also predicts that memecoins, such as Dogecoin and Shiba Inu, are…
Venture capitalist Chris Burniske has made a sudden shift in his stance on Bitcoin and cryptocurrency, predicting a surge in market value. Bullish Pivot Burniske, who previously predicted the crypto market bottom in 2022, turned bearish in February. However, he now believes that Bitcoin is mirroring its price action from late 2020, when it struggled…
CryptoQuant CEO Ki Young Ju reports that Bitcoin whales have taken massive long positions on the exchanges Bybit and HTX. These positions were opened at $69,000. Whales’ Previous Success Ju points out that whales also opened significant long positions in August 2023, which preceded a sharp rally that saw BTC rise from $25,000 to over…
Factors Contributing to the Decline 1. Federal Reserve Meeting Jitters Investors are holding back before the Federal Reserve’s meeting on Wednesday. The Fed is expected to keep interest rates unchanged but may adopt a more cautious stance. Higher interest rates tend to make non-yielding assets like Bitcoin less attractive. 2. Increased Selling Pressure A surge…
Bitcoin has taken a tumble this week, dropping below several support levels. After falling below $71,000, it’s now hovering around $67,000, signaling a potential downtrend. Consolidation Zone Crypto analyst Bitcoin Signals has identified a consolidation zone between $67,000 and $72,000. This suggests a short-term correction is underway, with the price fluctuating within this range. Falling…
Bitcoin (BTC), the top cryptocurrency, is facing further declines as the market becomes increasingly pessimistic. Key Support Levels Breaking BTC is struggling to hold onto crucial support levels, signaling a potential for more losses. Factors Contributing to Bearishness Economic pressures Regulatory concerns Technical indicators Technical Analysis Indicates Further Decline 4-hour chart: BTC has fallen below…
Crypto Mining as a Money Laundering Tool Europol, a European law enforcement agency, has raised concerns about the use of crypto mining to launder money. Criminals are using mining operations to hide the origins of their ill-gotten gains and even make profits in the process. Mining pools, especially those used by ransomware operators, have been…
Interest Rate Cut Prospects Moody’s Analytics economist Mark Zandi believes the US Federal Reserve (Fed) should consider cutting interest rates. He argues that financial conditions are favorable, with inflation showing signs of cooling. Zandi also highlights the strong employment rate, suggesting that the Fed can afford to ease interest rates. Fed’s Inflation Target The Fed…
Ripple’s Commitment to East Asia Ripple has launched a massive fund to support the growth of the XRP Ledger (XRPL) in Japan and Korea. The XRPL Japan and Korea Fund, worth approximately $490 million, will invest in various initiatives to enhance the adoption and utility of XRPL in these regions. Key Focus Areas The fund…
