Attackers of Radiant Capital compromised the devices of at least three core developers through a malware injection, the company confirmed.
BlackRock eyes BUIDL for derivatives collateral in crypto exchanges
https://cointelegraph.com/news/blackrock-eyes-buidl-derivatives-collateral-crypto-exchanges?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
https://cointelegraph.com/news/blackrock-eyes-buidl-derivatives-collateral-crypto-exchanges?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
BlackRock and Securitize are reportedly in talks to integrate BUIDL as collateral for derivatives trading on Binance, OKX, and Debirit.
Trump’s crypto token flops, Ethereum centralization concerns: Finance Redefined
https://cointelegraph.com/news/trump-crypto-flops-ethereum-centralization-concerns-finance-redefined?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
https://cointelegraph.com/news/trump-crypto-flops-ethereum-centralization-concerns-finance-redefined?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Trump’s munch-awaited token launch recorded disappointing sales numbers, while investors are becoming concerned about Ethereum block builder centralization.
Bitcoin Breaking Out Of 7-Month Accumulation Channel: Expert Predicts Further Upside
https://www.newsbtc.com/bitcoin-news/bitcoin-breaking-out-of-7-month-accumulation-channel-expert-predicts-further-upside/
Bitcoin is at a pivotal moment after surging past the $68,000 mark and setting a new local high, confirming its bullish uptrend. Analysts and investors closely monitor the next steps, searching for signs of a continued rally or a potential retrace from higher supply levels. While the excitement is palpable, there is caution as traders prepare for possible resistance. Related Reading: Strong Buy Signal For DogWifHat (WIF) – Key Indicator Hints At Rally To $4 Top analyst Daan shared a technical analysis highlighting that Bitcoin has broken out of an accumulation channel, suppressing the price. According to Daan, this breakout above the $68,000 resistance level signals a potential for further upside as Bitcoin moves into uncharted territory. The next few days will determine whether BTC can maintain its momentum or will face a healthy pullback from these higher levels. With euphoria clashing with fear of a correction, investors are keen to see whether Bitcoin can continue its upward trajectory or if the market will see a pause in the rally. Bitcoin Break Out: New ATH Next? The crypto market is optimistic, as Bitcoin and most altcoins have surged from yearly lows to yearly highs in just a few weeks. Analysts are now speculating that this could be the start of something big—a rally that could propel prices to new highs and deliver massive gains to investors. Despite the excitement, there is also a lingering fear of an impending correction. Historically, Bitcoin has struggled to maintain momentum above supply near $70,000, often facing strong rejections that lead to sharp declines. However, top crypto analyst and investor Daan recently shared a technical analysis on X, explaining why this recent breakout might differ. According to Daan, Bitcoin has finally broken out of a 7-month accumulation pattern that had kept prices down, signaling a significant shift in market dynamics. Furthermore, BTC has managed to break well above the Daily 200 moving average (MA) and exponential moving average (EMA), key technical indicators that had previously caused resistance since the summer. Related Reading: Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54? With the short-to-mid timeframe trend firmly up, Daan believes this bullish outlook may suggest that Bitcoin could avoid another rejection near $70,000. Instead, BTC might be gearing up for a powerful surge, with investors eyeing new all-time highs in the coming weeks. BTC Technical Analysis Since Monday, Bitcoin has tested a crucial supply zone following a strong 9% surge. The price is trading well above the Daily 200 moving average (MA) and exponential moving average (EMA), signaling strength and maintaining bullish momentum with no immediate signs of a retrace. This indicates buyers remain in control for now, with a potential push to break above the psychological $70,000 level. However, there’s still a risk that Bitcoin could fail to break and hold the $70,000 mark, which is critical for bulls to maintain upward momentum. A rejection at this level could signal a shift in market sentiment, potentially leading to profit-taking and consolidation. Historically, such moments of euphoria in the market often end with a discouraging move that cools down excitement, and a healthy retrace is possible. Related Reading: Bitcoin ETFs See $1.6B Inflows This Week – Is BTC Reaching A New ATH Soon? Should BTC experience a pullback, it’s likely to find strong support at the daily 200 MA around $63,304. This level has acted as a key indicator of support in previous uptrends. It could provide a solid foundation for the next leg up if the price corrects before resuming its bullish trajectory. Featured image from Dall-E, chart from TradingView
https://www.newsbtc.com/bitcoin-news/bitcoin-breaking-out-of-7-month-accumulation-channel-expert-predicts-further-upside/
Bitcoin is at a pivotal moment after surging past the $68,000 mark and setting a new local high, confirming its bullish uptrend. Analysts and investors closely monitor the next steps, searching for signs of a continued rally or a potential retrace from higher supply levels. While the excitement is palpable, there is caution as traders prepare for possible resistance. Related Reading: Strong Buy Signal For DogWifHat (WIF) – Key Indicator Hints At Rally To $4 Top analyst Daan shared a technical analysis highlighting that Bitcoin has broken out of an accumulation channel, suppressing the price. According to Daan, this breakout above the $68,000 resistance level signals a potential for further upside as Bitcoin moves into uncharted territory. The next few days will determine whether BTC can maintain its momentum or will face a healthy pullback from these higher levels. With euphoria clashing with fear of a correction, investors are keen to see whether Bitcoin can continue its upward trajectory or if the market will see a pause in the rally. Bitcoin Break Out: New ATH Next? The crypto market is optimistic, as Bitcoin and most altcoins have surged from yearly lows to yearly highs in just a few weeks. Analysts are now speculating that this could be the start of something big—a rally that could propel prices to new highs and deliver massive gains to investors. Despite the excitement, there is also a lingering fear of an impending correction. Historically, Bitcoin has struggled to maintain momentum above supply near $70,000, often facing strong rejections that lead to sharp declines. However, top crypto analyst and investor Daan recently shared a technical analysis on X, explaining why this recent breakout might differ. According to Daan, Bitcoin has finally broken out of a 7-month accumulation pattern that had kept prices down, signaling a significant shift in market dynamics. Furthermore, BTC has managed to break well above the Daily 200 moving average (MA) and exponential moving average (EMA), key technical indicators that had previously caused resistance since the summer. Related Reading: Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54? With the short-to-mid timeframe trend firmly up, Daan believes this bullish outlook may suggest that Bitcoin could avoid another rejection near $70,000. Instead, BTC might be gearing up for a powerful surge, with investors eyeing new all-time highs in the coming weeks. BTC Technical Analysis Since Monday, Bitcoin has tested a crucial supply zone following a strong 9% surge. The price is trading well above the Daily 200 moving average (MA) and exponential moving average (EMA), signaling strength and maintaining bullish momentum with no immediate signs of a retrace. This indicates buyers remain in control for now, with a potential push to break above the psychological $70,000 level. However, there’s still a risk that Bitcoin could fail to break and hold the $70,000 mark, which is critical for bulls to maintain upward momentum. A rejection at this level could signal a shift in market sentiment, potentially leading to profit-taking and consolidation. Historically, such moments of euphoria in the market often end with a discouraging move that cools down excitement, and a healthy retrace is possible. Related Reading: Bitcoin ETFs See $1.6B Inflows This Week – Is BTC Reaching A New ATH Soon? Should BTC experience a pullback, it’s likely to find strong support at the daily 200 MA around $63,304. This level has acted as a key indicator of support in previous uptrends. It could provide a solid foundation for the next leg up if the price corrects before resuming its bullish trajectory. Featured image from Dall-E, chart from TradingView
Memecoin craze fuels Solana price rally — Is $180 SOL the next stop?
https://cointelegraph.com/news/memecoin-craze-fuels-solana-price-rally-is-180-sol-the-next-stop?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
https://cointelegraph.com/news/memecoin-craze-fuels-solana-price-rally-is-180-sol-the-next-stop?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
A sharp uptick in Solana network activity and the blockbuster performance from memecoins back SOL’s rally toward $180.
Survey Finds Almost 70% Of Ethereum Institutional Investors Engaged In ETH Staking
https://www.newsbtc.com/ethereum-news/survey-finds-almost-70-of-ethereum-institutional-investors-engaged-in-eth-staking/
Almost 70% of institutional investors in Ethereum (ETH) are participating in ETH staking, with 60.6% of them using third-party staking platforms. Ethereum Staking Landscape At A Glance According to a report by Blockworks Research, 69.2% of institutional investors holding Ethereum are engaged in staking the platform’s native ETH token. Of these, 78.8% are investment firms and asset managers. Related Reading: Ethereum Inflation Surge Casts Doubt On “Ultrasound Money” Claim: Report Notably, slightly more than one out of five institutional investors – or 22.6% – of the respondents said that ETH or an ETH-based liquid staking token (LST) constitutes more than 60% of their total portfolio allocation. The report notes a seismic transformation in the Ethereum staking landscape since the network transitioned from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism during the Merge upgrade. At present, there are close to 1.1 million on-chain validators staking 34.8 million ETH on the network. Following the Merge, Ethereum network participants were allowed to withdraw their ETH only after the Shapella upgrade in April 2023. After the initial phase of ETH withdrawals, the network has seen steady inflows, indicating strong demand for ETH staking. At present, 28.9% of the total ETH supply is staked, making it the network with the highest dollar value of staked assets, valued at over $115 billion. It’s worth noting that the annualized yield from staking ETH is around 3%. As more ETH is staked, the yield decreases proportionally. However, network validators can also earn additional ETH through priority transaction fees during periods of high network activity. Third-Party Staking Overshadows Solo Staking Anyone can participate in ETH staking, either as a solo staker or by delegating their ETH to a third-party staking platform. While solo staking gives the staker full control over their ETH, it comes with a high entry barrier of staking at least 32 ETH – worth more than $83,000 at current market price of $2,616. Conversely, holders can stake with as little as 0.1 ETH through third-party stakers but must give up on some degree of control over their assets. Recently, Ethereum co-founder Vitalik Buterin stressed the need to lower entry requirements for ETH solo stakers to ensure greater network decentralization. Currently, about 18.7% of stakers are solo stakers. However, the trend shows that solo staking is losing popularity due to the high entry threshold and the inefficiency of locked capital. The report explains: Once locked in staking, ETH can no longer be used for other financial activities throughout the DeFi ecosystem. This means that one can no longer provide liquidity to a variety of DeFi primitives, or collateralize one’s ETH to take out loans against it. This presents an opportunity cost for solo stakers, who must also account for the dynamic network reward rates of staked ETH to ensure they are maximizing their risk-adjusted yield potential. As a result, third-party staking solutions are becoming more popular among ETH stakers. However, such platforms – dominated by centralized exchanges and liquid staking protocols – raise concerns about network centralization. Close to 48.6% of ETH stakers leveraging third-party staking platforms are using just one integrated platform such as Coinbase, Binance, Kiln, and others. The report highlights key factors driving institutional investors to use third-party platforms, including platform reputation, supported networks, pricing, ease of onboarding, competitive costs, and platform expertise. Related Reading: Bitwise CIO Calls Ethereum The ‘Microsoft Of Blockchains’, Can ETH Make A Comeback? Although the Ethereum staking ecosystem is evolving, this growth has not yet been
https://www.newsbtc.com/ethereum-news/survey-finds-almost-70-of-ethereum-institutional-investors-engaged-in-eth-staking/
Almost 70% of institutional investors in Ethereum (ETH) are participating in ETH staking, with 60.6% of them using third-party staking platforms. Ethereum Staking Landscape At A Glance According to a report by Blockworks Research, 69.2% of institutional investors holding Ethereum are engaged in staking the platform’s native ETH token. Of these, 78.8% are investment firms and asset managers. Related Reading: Ethereum Inflation Surge Casts Doubt On “Ultrasound Money” Claim: Report Notably, slightly more than one out of five institutional investors – or 22.6% – of the respondents said that ETH or an ETH-based liquid staking token (LST) constitutes more than 60% of their total portfolio allocation. The report notes a seismic transformation in the Ethereum staking landscape since the network transitioned from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism during the Merge upgrade. At present, there are close to 1.1 million on-chain validators staking 34.8 million ETH on the network. Following the Merge, Ethereum network participants were allowed to withdraw their ETH only after the Shapella upgrade in April 2023. After the initial phase of ETH withdrawals, the network has seen steady inflows, indicating strong demand for ETH staking. At present, 28.9% of the total ETH supply is staked, making it the network with the highest dollar value of staked assets, valued at over $115 billion. It’s worth noting that the annualized yield from staking ETH is around 3%. As more ETH is staked, the yield decreases proportionally. However, network validators can also earn additional ETH through priority transaction fees during periods of high network activity. Third-Party Staking Overshadows Solo Staking Anyone can participate in ETH staking, either as a solo staker or by delegating their ETH to a third-party staking platform. While solo staking gives the staker full control over their ETH, it comes with a high entry barrier of staking at least 32 ETH – worth more than $83,000 at current market price of $2,616. Conversely, holders can stake with as little as 0.1 ETH through third-party stakers but must give up on some degree of control over their assets. Recently, Ethereum co-founder Vitalik Buterin stressed the need to lower entry requirements for ETH solo stakers to ensure greater network decentralization. Currently, about 18.7% of stakers are solo stakers. However, the trend shows that solo staking is losing popularity due to the high entry threshold and the inefficiency of locked capital. The report explains: Once locked in staking, ETH can no longer be used for other financial activities throughout the DeFi ecosystem. This means that one can no longer provide liquidity to a variety of DeFi primitives, or collateralize one’s ETH to take out loans against it. This presents an opportunity cost for solo stakers, who must also account for the dynamic network reward rates of staked ETH to ensure they are maximizing their risk-adjusted yield potential. As a result, third-party staking solutions are becoming more popular among ETH stakers. However, such platforms – dominated by centralized exchanges and liquid staking protocols – raise concerns about network centralization. Close to 48.6% of ETH stakers leveraging third-party staking platforms are using just one integrated platform such as Coinbase, Binance, Kiln, and others. The report highlights key factors driving institutional investors to use third-party platforms, including platform reputation, supported networks, pricing, ease of onboarding, competitive costs, and platform expertise. Related Reading: Bitwise CIO Calls Ethereum The ‘Microsoft Of Blockchains’, Can ETH Make A Comeback? Although the Ethereum staking ecosystem is evolving, this growth has not yet been
reflected in ETH’s price. ETH has significantly underperformed against BTC for an extended period, only recently gaining traction after the US Federal Reserve’s (Fed) decision to cut interest rates. Nonetheless, some crypto research firms remain optimistic about ETH’s potential comeback against BTC later this year. As of press time, ETH is trading at $2,616, up 0.8% in the past 24 hours. Featured image from Unsplash, Charts from Blockworks Research and Tradingview.com
Based On Historical Pattern: Dogecoin Is On Track For Over 400% Rally, Analyst Reveals
https://www.newsbtc.com/news/dogecoin/based-on-historical-pattern-dogecoin-is-on-track-for-over-400-rally-analyst-reveals/
Dogecoin (DOGE) might be on track for a massive rally as the asset continues its consistent uptick in recent weeks, up by a double-digit percent. According to a renowned crypto analyst Javon Marks, based on the historical chart pattern, the memecoin may be on the brink of another parabolic run, similar to the explosive rallies witnessed in the past. Related Reading: Dogecoin Sees Sharp Decline: Over 106,000 Wallets Abandon The Memecoin Why An Over 400% Rally Is Plausible For Dogecoin Based on historical patterns, Marks revealed that Dogecoin may be in the early stages of a significant bull run, potentially heading toward a 431% price increase. Marks highlighted that Dogecoin could quickly reclaim its all-time high of $0.73905, supported by similar price behaviors seen in the past. This revelation was particularly made in a post on X accompanied with a historical price chart of DOGE whereby DOGE is showing a pattern known as the “falling wedge.” This technical formation occurs when the price of an asset consolidates between two downward-sloping trendlines before eventually breaking out. In Dogecoin’s case, Marks observed that DOGE had recently formed this falling wedge pattern and subsequently broken out to the upside. Historically, such breakouts have led to substantial rallies in Dogecoin’s price. Based on this breakout, Marks predicts a significant surge, potentially over 400%, as long as DOGE maintains its momentum. DOGE Recent Price Performance And Outlook Over the past few weeks, Dogecoin has shown gains, aligning with the bullish outlook shared by analysts. In the last 7 days alone, DOGE has surged by 23%, reaching a high of $0.135 in the early hours of today. This performance is notable, as Dogecoin has maintained its upward momentum despite fluctuations in the broader cryptocurrency market. When writing, Dogecoin is trading at $0.1333, representing a 9.5% increase in the past 24 hours. In addition to Javon Marks’ analysis, another prominent figure in the crypto space, Trader Tardigrade, has also weighed in on Dogecoin’s recent market structure. In a post on X, Tardigrade noted that Dogecoin has transitioned from a downtrend to an uptrend. Related Reading: Dogecoin Is The Top ‘Trump Victory’ Trade, Says Investment Firm CEO He pointed out that Dogecoin experienced a false breakout during its previous downtrend, but the absence of a lower low following the false breakout indicates a change in market sentiment. According to Tardigrade, Dogecoin is now forming higher highs and higher lows, signaling a potential continuation of its bullish trend. #DOGECOIN market structure is obviously changed from downtrend to uptrend 🔥 In the downtrend🔵, $DOGE formed False Breakout and lower low afterwards. After a transition🟡 with a false breakout, but no more lower low, $DOGE created a Breakout with a higher low. It’s now making… pic.twitter.com/cy9owb6Ydz — Trader Tardigrade (@TATrader_Alan) October 18, 2024 Featured image created with DALL-E, Chart from TradingView
https://www.newsbtc.com/news/dogecoin/based-on-historical-pattern-dogecoin-is-on-track-for-over-400-rally-analyst-reveals/
Dogecoin (DOGE) might be on track for a massive rally as the asset continues its consistent uptick in recent weeks, up by a double-digit percent. According to a renowned crypto analyst Javon Marks, based on the historical chart pattern, the memecoin may be on the brink of another parabolic run, similar to the explosive rallies witnessed in the past. Related Reading: Dogecoin Sees Sharp Decline: Over 106,000 Wallets Abandon The Memecoin Why An Over 400% Rally Is Plausible For Dogecoin Based on historical patterns, Marks revealed that Dogecoin may be in the early stages of a significant bull run, potentially heading toward a 431% price increase. Marks highlighted that Dogecoin could quickly reclaim its all-time high of $0.73905, supported by similar price behaviors seen in the past. This revelation was particularly made in a post on X accompanied with a historical price chart of DOGE whereby DOGE is showing a pattern known as the “falling wedge.” This technical formation occurs when the price of an asset consolidates between two downward-sloping trendlines before eventually breaking out. In Dogecoin’s case, Marks observed that DOGE had recently formed this falling wedge pattern and subsequently broken out to the upside. Historically, such breakouts have led to substantial rallies in Dogecoin’s price. Based on this breakout, Marks predicts a significant surge, potentially over 400%, as long as DOGE maintains its momentum. DOGE Recent Price Performance And Outlook Over the past few weeks, Dogecoin has shown gains, aligning with the bullish outlook shared by analysts. In the last 7 days alone, DOGE has surged by 23%, reaching a high of $0.135 in the early hours of today. This performance is notable, as Dogecoin has maintained its upward momentum despite fluctuations in the broader cryptocurrency market. When writing, Dogecoin is trading at $0.1333, representing a 9.5% increase in the past 24 hours. In addition to Javon Marks’ analysis, another prominent figure in the crypto space, Trader Tardigrade, has also weighed in on Dogecoin’s recent market structure. In a post on X, Tardigrade noted that Dogecoin has transitioned from a downtrend to an uptrend. Related Reading: Dogecoin Is The Top ‘Trump Victory’ Trade, Says Investment Firm CEO He pointed out that Dogecoin experienced a false breakout during its previous downtrend, but the absence of a lower low following the false breakout indicates a change in market sentiment. According to Tardigrade, Dogecoin is now forming higher highs and higher lows, signaling a potential continuation of its bullish trend. #DOGECOIN market structure is obviously changed from downtrend to uptrend 🔥 In the downtrend🔵, $DOGE formed False Breakout and lower low afterwards. After a transition🟡 with a false breakout, but no more lower low, $DOGE created a Breakout with a higher low. It’s now making… pic.twitter.com/cy9owb6Ydz — Trader Tardigrade (@TATrader_Alan) October 18, 2024 Featured image created with DALL-E, Chart from TradingView
Analyst Points To Key Bitcoin Metric Indicating A Strong Uptrend—$90K in Sight?
https://www.newsbtc.com/bitcoin-news/analyst-points-to-key-bitcoin-metric-indicating-a-strong-uptrend-90k-in-sight/
Bitcoin (BTC) has been on an upward trend in recent weeks, showing positive price movements that appear quite appealing to investors. According to a recent CryptoQuant analysis, a key metric, “active address momentum,” paints a bullish picture for the cryptocurrency. Related Reading: Bitcoin’s Bull Rally Hinges On $57K Support Level—Here’s Why It Matters Active Address Momentum Signals Upward Market Structure Active addresses represent the number of unique addresses conducting transactions on the Bitcoin network, providing insights into network activity and investor engagement. By applying a 30-day moving average (30DMA) and a 365-day moving average (365DMA) to this indicator, the CryptoQuant analyst could assess the network’s growing momentum. The analyst emphasized that the 30DMA has sharply risen recently and is closing in on the 365DMA. If a “golden cross” occurs, where the 30DMA surpasses the 365DMA, it could signal a further bullish trend for Bitcoin, dent reveals. The CryptoQuant analyst added that Bitcoin has seen high transaction volumes since the second half of the year, supporting increased network activity. While the current upward momentum is encouraging, the analyst also warned of potential volatility due to a “rising wedge” formation in Bitcoin’s price chart—a pattern that could lead to significant price swings if the wedge continues to tighten. Bitcoin Rally To $90,000 In Sight? Bitcoin’s recent price performance has added to the optimism among investors. Over the past week, the cryptocurrency has surged by over 10%, and it has continued its upward trajectory, rising by an additional 1.98% in the past 24 hours to trade at $68,708 at the time of writing. This upward movement has helped Bitcoin break through a major resistance zone on its daily chart, sparking predictions of even higher prices. One notable prediction came from crypto analyst Javon Marks, who recently shared his outlook on X. Marks highlighted that Bitcoin has broken out of a “descending broadening wedge” pattern. Statistically, this pattern suggests that when the resisting line is broken, the price objective is reached in 81% of cases. Related Reading: Massive Bitcoin Move Imminent: 7 Key Reasons Behind The Bullish Outlook In Bitcoin’s case, Marks believes that this breakout could push the price of Bitcoin to a range between $90,000 and even more than $96,000. #Bitcoin (BTC) is now broken out of the displayed ‘descending broadening wedge’ pattern and statistics from this type of pattern states that in 81% of cases, the pattern’s price objective is reached when the resisting line is broken. Bitcoin’s Price Objective: $90,000-$96,000+ https://t.co/lPZZtJm7pi pic.twitter.com/hudApLSlDj — JAVON⚡️MARKS (@JavonTM1) October 17, 2024 Featured image created with DALL-E, Chart from TradingView
https://www.newsbtc.com/bitcoin-news/analyst-points-to-key-bitcoin-metric-indicating-a-strong-uptrend-90k-in-sight/
Bitcoin (BTC) has been on an upward trend in recent weeks, showing positive price movements that appear quite appealing to investors. According to a recent CryptoQuant analysis, a key metric, “active address momentum,” paints a bullish picture for the cryptocurrency. Related Reading: Bitcoin’s Bull Rally Hinges On $57K Support Level—Here’s Why It Matters Active Address Momentum Signals Upward Market Structure Active addresses represent the number of unique addresses conducting transactions on the Bitcoin network, providing insights into network activity and investor engagement. By applying a 30-day moving average (30DMA) and a 365-day moving average (365DMA) to this indicator, the CryptoQuant analyst could assess the network’s growing momentum. The analyst emphasized that the 30DMA has sharply risen recently and is closing in on the 365DMA. If a “golden cross” occurs, where the 30DMA surpasses the 365DMA, it could signal a further bullish trend for Bitcoin, dent reveals. The CryptoQuant analyst added that Bitcoin has seen high transaction volumes since the second half of the year, supporting increased network activity. While the current upward momentum is encouraging, the analyst also warned of potential volatility due to a “rising wedge” formation in Bitcoin’s price chart—a pattern that could lead to significant price swings if the wedge continues to tighten. Bitcoin Rally To $90,000 In Sight? Bitcoin’s recent price performance has added to the optimism among investors. Over the past week, the cryptocurrency has surged by over 10%, and it has continued its upward trajectory, rising by an additional 1.98% in the past 24 hours to trade at $68,708 at the time of writing. This upward movement has helped Bitcoin break through a major resistance zone on its daily chart, sparking predictions of even higher prices. One notable prediction came from crypto analyst Javon Marks, who recently shared his outlook on X. Marks highlighted that Bitcoin has broken out of a “descending broadening wedge” pattern. Statistically, this pattern suggests that when the resisting line is broken, the price objective is reached in 81% of cases. Related Reading: Massive Bitcoin Move Imminent: 7 Key Reasons Behind The Bullish Outlook In Bitcoin’s case, Marks believes that this breakout could push the price of Bitcoin to a range between $90,000 and even more than $96,000. #Bitcoin (BTC) is now broken out of the displayed ‘descending broadening wedge’ pattern and statistics from this type of pattern states that in 81% of cases, the pattern’s price objective is reached when the resisting line is broken. Bitcoin’s Price Objective: $90,000-$96,000+ https://t.co/lPZZtJm7pi pic.twitter.com/hudApLSlDj — JAVON⚡️MARKS (@JavonTM1) October 17, 2024 Featured image created with DALL-E, Chart from TradingView
Crypto market sentiment not as bullish as 'echo chamber' suggests, trader says
https://cointelegraph.com/news/crypto-market-sentiment-bullish-echo-chamber-crypto-traders-retail-investors?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
https://cointelegraph.com/news/crypto-market-sentiment-bullish-echo-chamber-crypto-traders-retail-investors?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
A crypto trader argued that it is easy for crypto market participants to be "convinced sentiment is one way or the other," while claiming that the sentiment is not "that bullish currently."
Dogecoin Breaks Away With 9% Surge: Why This Could Trouble Bitcoin
https://www.newsbtc.com/news/dogecoin/dogecoin-9-surge-why-this-could-trouble-bitcoin/
Dogecoin has broken away from the rest of the market with a 9% surge. Here’s why this could be bad for Bitcoin, according to history. Dogecoin Has Registered A 9% Jump During Last 24 Hours While most of the cryptocurrency market has seen sideways price action during the past day, Dogecoin has shown to be different as its value has witnessed a notable increase. Related Reading: Bitcoin Holders In Profit Hits 95%: Is BTC Overheating? The below chart shows the trend in DOGE’s price over the past month. From the graph, it’s visible that the Dogecoin price has claimed the $0.134 mark with this rally and has surpassed the high from last month. The memecoin is now close to the July top, so if this run continues, the memecoin can potentially have a go at it as well. In terms of the weekly returns, the latest jump has meant that DOGE is now up more than 24%, which has made it the best performer among the top 50 coins by market cap. Dogecoin isn’t the only memecoin that has been rallying; the asset’s cousin Shiba Inu (SHIB) has also enjoyed bullish momentum during the past day, although its jump of 5% is less impressive than DOGE’s. This latest focus on meme coins may not be the best sign for the cryptocurrency sector as a whole. Market Topped Out The Last Time Memecoins Got The Attention According to data from the analytics firm Santiment, the Social Dominance of the memecoins had spiked during the recent Bitcoin top above the $68,000 level. The “Social Dominance” here refers to an indicator that keeps track of the percentage of the discussions related to the top 100 coins on social media that a given coin or group of assets is occupying right now. Here is a chart that shows how the Social Dominance of the top 6 layer 1 assets has compared with that of the top 6 meme coins recently: As displayed in the above graph, the Social Dominance of the memecoins had shot up earlier as Bitcoin and others had rallied, suggesting that investors had started paying attention to these speculative assets. This interest in the meme coins, though, ended up coinciding with the market top. “Typically, markets correct when focus shifts away from layer 1’s and toward more speculative assets due to greed,” explains the analytics firm. With Dogecoin and Shiba Inu pulling away from the pack during the past day, it seems the investor greed is still high, which can potentially lead to more bearish action for Bitcoin and other top assets. Related Reading: Bitcoin Whale Transfers See Massive Spike: Sign Of Profit-Taking? From the chart, it’s visible that the market has tended to reach bottoms when attention has shifted back to the layer 1 networks, so it’s possible that this may have to happen again if the sector-wide run has to continue. Featured image from Dall-E, Santiment.net, chart from TradingView.com
https://www.newsbtc.com/news/dogecoin/dogecoin-9-surge-why-this-could-trouble-bitcoin/
Dogecoin has broken away from the rest of the market with a 9% surge. Here’s why this could be bad for Bitcoin, according to history. Dogecoin Has Registered A 9% Jump During Last 24 Hours While most of the cryptocurrency market has seen sideways price action during the past day, Dogecoin has shown to be different as its value has witnessed a notable increase. Related Reading: Bitcoin Holders In Profit Hits 95%: Is BTC Overheating? The below chart shows the trend in DOGE’s price over the past month. From the graph, it’s visible that the Dogecoin price has claimed the $0.134 mark with this rally and has surpassed the high from last month. The memecoin is now close to the July top, so if this run continues, the memecoin can potentially have a go at it as well. In terms of the weekly returns, the latest jump has meant that DOGE is now up more than 24%, which has made it the best performer among the top 50 coins by market cap. Dogecoin isn’t the only memecoin that has been rallying; the asset’s cousin Shiba Inu (SHIB) has also enjoyed bullish momentum during the past day, although its jump of 5% is less impressive than DOGE’s. This latest focus on meme coins may not be the best sign for the cryptocurrency sector as a whole. Market Topped Out The Last Time Memecoins Got The Attention According to data from the analytics firm Santiment, the Social Dominance of the memecoins had spiked during the recent Bitcoin top above the $68,000 level. The “Social Dominance” here refers to an indicator that keeps track of the percentage of the discussions related to the top 100 coins on social media that a given coin or group of assets is occupying right now. Here is a chart that shows how the Social Dominance of the top 6 layer 1 assets has compared with that of the top 6 meme coins recently: As displayed in the above graph, the Social Dominance of the memecoins had shot up earlier as Bitcoin and others had rallied, suggesting that investors had started paying attention to these speculative assets. This interest in the meme coins, though, ended up coinciding with the market top. “Typically, markets correct when focus shifts away from layer 1’s and toward more speculative assets due to greed,” explains the analytics firm. With Dogecoin and Shiba Inu pulling away from the pack during the past day, it seems the investor greed is still high, which can potentially lead to more bearish action for Bitcoin and other top assets. Related Reading: Bitcoin Whale Transfers See Massive Spike: Sign Of Profit-Taking? From the chart, it’s visible that the market has tended to reach bottoms when attention has shifted back to the layer 1 networks, so it’s possible that this may have to happen again if the sector-wide run has to continue. Featured image from Dall-E, Santiment.net, chart from TradingView.com
POPCAT Nears Breakout Towards New ATH, But Analysts Warn Of Possible Correction
https://www.newsbtc.com/news/popcat-nears-breakout-towards-new-ath-but-analysts-warn-of-possible-correction/
Multiple market watchers suggest that memecoin sensation Popcat (POPCAT) is about to rally towards a new all-time high (ATH). As the token attempts to reclaim key resistance levels, some analysts warn the cat-themed memecoin could see a correction soon toward its monthly opening. Related Reading: Ethereum (ETH) About To ‘Catch Up On BTC’, Is It Ready To Reclaim $3,000? Popcat Retest $1.4 Resistance Level Memecoin sensation Popcat has been one of the best-performing cryptocurrencies over the past three months. Despite the market retraces, the token outperformed most cryptocurrencies, becoming the first cat-themed memecoin to achieve a $1 billion market capitalization. In the last 30 days, Popcat has seen a 108% surge, hitting three new ATHs since breaking the $1 barrier. After reaching its latest ATH of $1.56 a week ago, the cryptocurrency has been on a 7-day downtrend. The memecoin unsuccessfully attempted to break above the trendline earlier this week, facing a correction toward the $1.2 support level. Popcat bounced 16.6% from this zone on Thursday, propelling the token’s surge toward the $1.3 resistance level. On the last day, the cryptocurrency retested the trendline twice after surpassing the $1.4 mark. A successful reclaim of this zone could propel the price toward a new ATH. A market watcher considers that if Bitcoin’s price holds, Popcat should successfully break this level by next week. It’s worth noting that the cat-themed token followed BTC’s lead on Friday morning, surging 2.4% as the flagship cryptocurrency neared the $69,000 mark. Is A Correction Looming? Crypto analyst Sanchez noted that the memecoin’s price was “running flat” in the four-chart on Friday morning. To the analyst, the cat-themed token’s performance “looked good” for another leg up but suggested the possibility of another correction ahead of the breakout. Ideally, we get a good reaction around ~1.29 to make the C more complete, and the cat starts popping again A drop from the $1.3 mark could send Popcat’s price toward the $1.1-$1.0 mark. Trader Crypto Tony suggested that the cryptocurrency could see a retest of the monthly opening of around $1.01 in case of a rejection. Despite the correction forecast, the memecoin has seen a 7% increase in the last 24 hours, trading 8.7% below its ATH. Popcat reclaimed the $1.3 mark and is attempting to confirm the breakout and regain the $1.4 resistance level. Related Reading: Polkadot (DOT) Gearing Up For ‘Massive Breakout’, Will It Skyrocket To $20? Analyst CryptoGodJohn stated that the cryptocurrency “looks like it wants new ATHs and beyond this weekend” following its recent performance. Additionally, crypto trader Bluntz noted that Popcat’s price could achieve a 30% surge toward a new all-time high. To Bluntz, a rise toward the $1.7 mark might be coming short-term after “getting real close to a biddable level” this week, but “would like to see one more sweep.” As of this writing, Popcat trades at $1.41, an 8.3% surge in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
https://www.newsbtc.com/news/popcat-nears-breakout-towards-new-ath-but-analysts-warn-of-possible-correction/
Multiple market watchers suggest that memecoin sensation Popcat (POPCAT) is about to rally towards a new all-time high (ATH). As the token attempts to reclaim key resistance levels, some analysts warn the cat-themed memecoin could see a correction soon toward its monthly opening. Related Reading: Ethereum (ETH) About To ‘Catch Up On BTC’, Is It Ready To Reclaim $3,000? Popcat Retest $1.4 Resistance Level Memecoin sensation Popcat has been one of the best-performing cryptocurrencies over the past three months. Despite the market retraces, the token outperformed most cryptocurrencies, becoming the first cat-themed memecoin to achieve a $1 billion market capitalization. In the last 30 days, Popcat has seen a 108% surge, hitting three new ATHs since breaking the $1 barrier. After reaching its latest ATH of $1.56 a week ago, the cryptocurrency has been on a 7-day downtrend. The memecoin unsuccessfully attempted to break above the trendline earlier this week, facing a correction toward the $1.2 support level. Popcat bounced 16.6% from this zone on Thursday, propelling the token’s surge toward the $1.3 resistance level. On the last day, the cryptocurrency retested the trendline twice after surpassing the $1.4 mark. A successful reclaim of this zone could propel the price toward a new ATH. A market watcher considers that if Bitcoin’s price holds, Popcat should successfully break this level by next week. It’s worth noting that the cat-themed token followed BTC’s lead on Friday morning, surging 2.4% as the flagship cryptocurrency neared the $69,000 mark. Is A Correction Looming? Crypto analyst Sanchez noted that the memecoin’s price was “running flat” in the four-chart on Friday morning. To the analyst, the cat-themed token’s performance “looked good” for another leg up but suggested the possibility of another correction ahead of the breakout. Ideally, we get a good reaction around ~1.29 to make the C more complete, and the cat starts popping again A drop from the $1.3 mark could send Popcat’s price toward the $1.1-$1.0 mark. Trader Crypto Tony suggested that the cryptocurrency could see a retest of the monthly opening of around $1.01 in case of a rejection. Despite the correction forecast, the memecoin has seen a 7% increase in the last 24 hours, trading 8.7% below its ATH. Popcat reclaimed the $1.3 mark and is attempting to confirm the breakout and regain the $1.4 resistance level. Related Reading: Polkadot (DOT) Gearing Up For ‘Massive Breakout’, Will It Skyrocket To $20? Analyst CryptoGodJohn stated that the cryptocurrency “looks like it wants new ATHs and beyond this weekend” following its recent performance. Additionally, crypto trader Bluntz noted that Popcat’s price could achieve a 30% surge toward a new all-time high. To Bluntz, a rise toward the $1.7 mark might be coming short-term after “getting real close to a biddable level” this week, but “would like to see one more sweep.” As of this writing, Popcat trades at $1.41, an 8.3% surge in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Can liquid staking tokens depeg due to market volatility?
https://cointelegraph.com/news/liquid-staking-tokens-depeg-market-volatility?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
https://cointelegraph.com/news/liquid-staking-tokens-depeg-market-volatility?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Some top LSTs have previously seen price deviations of up to 77% from Ether’s price due to mass sell-offs paired with liquidations on leveraged lending protocols.
Bitcoin teases breakout as 'FOMO liquidity grab' keeps $69K in place
https://cointelegraph.com/news/bitcoin-teases-breakout-fomo-liquidity-69k?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
https://cointelegraph.com/news/bitcoin-teases-breakout-fomo-liquidity-69k?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Bitcoin bulls have more work to do for a major resistance flip while BTC price strength sees the highest daily close in over four months.