Blockchain Australia has transformed into the Digital Economic Council of Australia (DECA), expanding its focus beyond blockchain to embrace the wider digital economy. Strategic Rebranding for Inclusivity Amy-Rose Goodey, the new CEO, explains that the name change reflects the evolving tech landscape, which now includes digital ID, AI, and Web3. DECA aims to represent a…
Market Sentiment and Technical Indicators Data from CryptoQuant shows that Ethereum (ETH) is in a bearish phase, with futures traders aggressively selling. The Taker Buy Sell Ratio, which measures the balance between buying and selling, has dropped below 1, indicating that sellers are in control. Implications for ETH’s Price This bearish trend suggests that Ethereum’s…
Institutional Accumulation Institutional investors are piling up Ethereum, thanks to the SEC’s approval of Spot Ethereum ETFs. This buying frenzy has created significant pressure that could propel Ethereum past the $4,000 mark. Whale Activity The number of Ethereum addresses holding over 10,000 ETH has jumped 3% in the past three weeks. This surge in large…
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…
