📉 Bitcoin was hovering around $60,000 over the weekend and fell to $58,000 yesterday evening, in the wake of yet another assassination attempt on Trump. 🔫
🔪This drop resulted in long liquidations totaling $144 million. Currently, Bitcoin is trading at $58,900.
The Fear and Greed Index has returned to the “Fear” level, after remaining in neutral territory over the weekend.
Meanwhile, Bitcoin’s dominance index is at its highest level since 2021. 🚀
Bitcoin’s market share has reached 58%, the highest it has been in over three years.
Traditionally, a decrease in Bitcoin dominance is seen as the beginning of an “altcoin season,” whereas an increase in Bitcoin’s share relative to the rest of the crypto market indicates instability among alternative cryptocurrencies. 🤷
At the same time, the Ethereum-to-Bitcoin ratio has hit a new low, with Ethereum’s market share falling. The ETH/BTC value has dropped below 0.04 for the first time since 2021.🥴
🔪This drop resulted in long liquidations totaling $144 million. Currently, Bitcoin is trading at $58,900.
The Fear and Greed Index has returned to the “Fear” level, after remaining in neutral territory over the weekend.
Meanwhile, Bitcoin’s dominance index is at its highest level since 2021. 🚀
Bitcoin’s market share has reached 58%, the highest it has been in over three years.
Traditionally, a decrease in Bitcoin dominance is seen as the beginning of an “altcoin season,” whereas an increase in Bitcoin’s share relative to the rest of the crypto market indicates instability among alternative cryptocurrencies. 🤷
At the same time, the Ethereum-to-Bitcoin ratio has hit a new low, with Ethereum’s market share falling. The ETH/BTC value has dropped below 0.04 for the first time since 2021.🥴
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Crypto soothsayer
Sony has announced the upcoming launch of its L2 solution, named Soneium. 🚀 The blockchain will enter its testnet phase in the next few days. Soneium is built on the OP Stack. In its first year, the focus will be on attracting the Web3 community, with…
🔗 Circle has announced a partnership with Sony Block Solutions Labs to implement a USDC bridge on the Soneium blockchain.
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Crypto soothsayer
The DeFi protocol DeltaPrime was hacked and $7,000,000 worth of cryptocurrency was stolen! 🙀
The DeFi protocol team DeltaPrime announced that their insurance pool will cover any potential losses incurred due to today's exploit. 💰
🥷 The exploit targeted only the DeltaPrime Blue protocol on the Arbitrum blockchain, from which a drainer siphoned $5.98 million. This occurred due to a compromised private key, the source of which is currently under investigation. 🕵️♂️
In contrast, the DeltaPrime Red protocol (on the Avalanche blockchain) was not vulnerable to this attack, as its implementation is protected exclusively by multi-signatures and cold wallets (as it should be). 🤷
🥷 The exploit targeted only the DeltaPrime Blue protocol on the Arbitrum blockchain, from which a drainer siphoned $5.98 million. This occurred due to a compromised private key, the source of which is currently under investigation. 🕵️♂️
In contrast, the DeltaPrime Red protocol (on the Avalanche blockchain) was not vulnerable to this attack, as its implementation is protected exclusively by multi-signatures and cold wallets (as it should be). 🤷
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🚨 Solana's Bull Run at Risk: Death Cross May Signal Reversal 📉
Solana's impressive 11-month bull run, which began in October 2023, is facing a potential turning point. The looming "death cross," where the 50-day EMA crosses below the 200-day EMA, suggests that the bullish momentum could be ending. 🧐
Solana is currently testing key support levels at $124 and $120 – if these are broken, a significant price drop may follow.
🔎 Analyst Alan Santana warns of a possible 42% decline, with the price potentially falling to $80. Despite some short-term optimism from the MACD indicator, Solana remains vulnerable, and investors are urged to monitor the market closely.
Solana's impressive 11-month bull run, which began in October 2023, is facing a potential turning point. The looming "death cross," where the 50-day EMA crosses below the 200-day EMA, suggests that the bullish momentum could be ending. 🧐
Solana is currently testing key support levels at $124 and $120 – if these are broken, a significant price drop may follow.
🔎 Analyst Alan Santana warns of a possible 42% decline, with the price potentially falling to $80. Despite some short-term optimism from the MACD indicator, Solana remains vulnerable, and investors are urged to monitor the market closely.
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The closure of a mining farm led to a 20% increase in electricity tariffs! 💡💸
🇳🇴 Residents of the Norwegian village of Stokmarknes succeeded in shutting down the KryptoVault mining farm, but it has had unexpected consequences. Now, their electricity bills will rise by 20%! 📈💰
The mining farm, which had been operating for several years, consumed 80 GWh annually, equivalent to the usage of 3,200 households. Locals complained about the noise and even threatened to blow up the farm. In September 2024, its operations were halted.
👀 However, the local energy company now has to compensate for the loss of revenue, as KryptoVault provided around 20% of their income. As a result, residents will see a significant increase in their electricity bills starting next month. 😁
🇳🇴 Residents of the Norwegian village of Stokmarknes succeeded in shutting down the KryptoVault mining farm, but it has had unexpected consequences. Now, their electricity bills will rise by 20%! 📈💰
The mining farm, which had been operating for several years, consumed 80 GWh annually, equivalent to the usage of 3,200 households. Locals complained about the noise and even threatened to blow up the farm. In September 2024, its operations were halted.
👀 However, the local energy company now has to compensate for the loss of revenue, as KryptoVault provided around 20% of their income. As a result, residents will see a significant increase in their electricity bills starting next month. 😁
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Bitcoin's 'ticking time bomb' could push the price to $150K by 2025! 💣
📊 Technical indicators point to a potential explosive Bitcoin price movement, targeting the $100,000-$150,000 range by early 2025.
☕️ A "cup and handle" pattern, known for signaling bullish continuation, has been forming since late 2021. The cup's bottom around $15,000 and resistance near $65,000 suggest a breakout could lead to a $110,000-$130,000 price range. 📈
👀 Additionally, low volatility signals from Bollinger Bands and oversold conditions on RSI indicators further support the idea of a coming rally. 🚀
Bitcoin’s tightening price action, combined with increased global liquidity, hints at a significant price surge as early as late 2024 or early 2025. 🌕
📊 Technical indicators point to a potential explosive Bitcoin price movement, targeting the $100,000-$150,000 range by early 2025.
☕️ A "cup and handle" pattern, known for signaling bullish continuation, has been forming since late 2021. The cup's bottom around $15,000 and resistance near $65,000 suggest a breakout could lead to a $110,000-$130,000 price range. 📈
👀 Additionally, low volatility signals from Bollinger Bands and oversold conditions on RSI indicators further support the idea of a coming rally. 🚀
Bitcoin’s tightening price action, combined with increased global liquidity, hints at a significant price surge as early as late 2024 or early 2025. 🌕
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Experts reveal the timeline for Bitcoin’s next bull run 🚀
🐃 Bitcoin’s bull market could begin within the next 22 days, based on historical cycles and current data, according to WeRate co-founder Quinten Francois.
👀 According to the expert, the average cycle of the first cryptocurrency starts approximately 170 days after the halving, with the peak forming after 480 days. As of September 15, it has been 147 days since the reward for miners was halved.
This aligns quite well with the "cup and handle" pattern, doesn’t it? 😏
🐃 Bitcoin’s bull market could begin within the next 22 days, based on historical cycles and current data, according to WeRate co-founder Quinten Francois.
👀 According to the expert, the average cycle of the first cryptocurrency starts approximately 170 days after the halving, with the peak forming after 480 days. As of September 15, it has been 147 days since the reward for miners was halved.
This aligns quite well with the "cup and handle" pattern, doesn’t it? 😏
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WalletConnect to Airdrop 185 Million Tokens with Native WCT Launch 🚀
👝WalletConnect, a web3 protocol that connects crypto wallets to decentralized applications, is launching its native Connect Token (WCT) on the Optimism Mainnet.
🪂 An airdrop of 185 million WCT tokens (18.5% of the total 1 billion supply) will be distributed in the first season. Registration for the airdrop opens on September 24.
👀 Eligibility is based on WalletConnect usage, with wallets, apps, nodes, and contributors also qualifying. To participate, users must connect their wallets, link GitHub accounts, and provide an email.
🤷 Tokens will be non-transferable initially, focusing on network stability and governance. The airdrop ends on October 11, and unclaimed tokens will be reallocated for future seasons.
With WCT, WalletConnect aims to decentralize its ecosystem, governed by the community via the newly established WalletConnect Foundation. 🌐
👝WalletConnect, a web3 protocol that connects crypto wallets to decentralized applications, is launching its native Connect Token (WCT) on the Optimism Mainnet.
🪂 An airdrop of 185 million WCT tokens (18.5% of the total 1 billion supply) will be distributed in the first season. Registration for the airdrop opens on September 24.
👀 Eligibility is based on WalletConnect usage, with wallets, apps, nodes, and contributors also qualifying. To participate, users must connect their wallets, link GitHub accounts, and provide an email.
🤷 Tokens will be non-transferable initially, focusing on network stability and governance. The airdrop ends on October 11, and unclaimed tokens will be reallocated for future seasons.
With WCT, WalletConnect aims to decentralize its ecosystem, governed by the community via the newly established WalletConnect Foundation. 🌐
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🇸🇬 In Singapore, crypto enthusiasts caused chaos in a shopping mall when the mega-event Token2049 overlapped with a Berachain community party. 🕺
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Ethereum Faces Struggles: Short-Term Outlook Remains Weak 📉
Ethereum is having a hard time bouncing back, with its price stuck below $2,350. Key resistance at $2,360, along with bearish RSI and MACD indicators, suggests continued weakness in the short term.
🔑 Key Points:
▪️Ethereum failed to break resistance at $2,450 and dropped below $2,350.
▪️Technical indicators show bearish trends, with RSI below 50 and MACD losing momentum.
▪️Large Ethereum holders (whales) are selling off, adding downward pressure.
Market sentiment has also weakened, and analysts warn that unless Ethereum can break through key resistance, it may face further declines, with potential drops to $2,250 or even $2,150. 🤷
Ethereum is having a hard time bouncing back, with its price stuck below $2,350. Key resistance at $2,360, along with bearish RSI and MACD indicators, suggests continued weakness in the short term.
🔑 Key Points:
▪️Ethereum failed to break resistance at $2,450 and dropped below $2,350.
▪️Technical indicators show bearish trends, with RSI below 50 and MACD losing momentum.
▪️Large Ethereum holders (whales) are selling off, adding downward pressure.
Market sentiment has also weakened, and analysts warn that unless Ethereum can break through key resistance, it may face further declines, with potential drops to $2,250 or even $2,150. 🤷
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BlackRock’s IBIT Sees First Net Inflows in 3 Weeks as Spot Bitcoin ETFs Attract $12.8M 💸
After a 3-week dry spell, BlackRock's IBIT spot Bitcoin ETF finally saw $15.8M in net inflows, marking its first positive day since August 26. 🧐
Other Bitcoin ETFs like Fidelity’s FBTC and VanEck’s HODL also gained inflows, while Grayscale's GBTC saw outflows of $20.8M.
Despite recent struggles, BlackRock’s IBIT still dominates the market with $20.9B in net inflows since January. Meanwhile, spot Ethereum ETFs continued to struggle, experiencing $9.4M in outflows.
After a 3-week dry spell, BlackRock's IBIT spot Bitcoin ETF finally saw $15.8M in net inflows, marking its first positive day since August 26. 🧐
Other Bitcoin ETFs like Fidelity’s FBTC and VanEck’s HODL also gained inflows, while Grayscale's GBTC saw outflows of $20.8M.
Despite recent struggles, BlackRock’s IBIT still dominates the market with $20.9B in net inflows since January. Meanwhile, spot Ethereum ETFs continued to struggle, experiencing $9.4M in outflows.
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🥷 Hacker DeltaPrime has begun laundering stolen cryptocurrencies using the Tornado Cash mixer.
Yesterday, 1336 ETH (worth $3 million) were moved from Artbirum to Ethereum, then the funds were spread out and converted to BTC via THORChain.
Currently, 1150 ETH (approximately $2.67 million) are still held in the hacker's address.
Yesterday, 1336 ETH (worth $3 million) were moved from Artbirum to Ethereum, then the funds were spread out and converted to BTC via THORChain.
Currently, 1150 ETH (approximately $2.67 million) are still held in the hacker's address.
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🇺🇸 Republican lawmakers Patrick McHenry and Thomas Emmer have made an official inquiry to the SEC regarding its position on whether cryptocurrency airdrops are considered securities transactions. 🧐
- declared Tom Emmer .
“The future of the peer-to-peer digital economy cannot be left to the authoritarian whims of Gary Gensler!”
- declared Tom Emmer .
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🚀 BitGo to Launch Dollar-Backed USDS Stablecoin in 2025!
BitGo has announced the upcoming launch of its USDS stablecoin, set to debut in 2025. Backed by short-duration treasury bills, overnight repos, and cash, USDS aims to differentiate itself by rewarding institutions that provide liquidity to its ecosystem. 💰
USDS will be the first stablecoin to promote innovation and offer incentives for network builders. 🔨
Institutions providing liquidity will earn a share of returns generated from the reserves, enhancing engagement. 💲
BitGo aims to secure $10 billion in assets within the first year of launch. 📈
BitGo has announced the upcoming launch of its USDS stablecoin, set to debut in 2025. Backed by short-duration treasury bills, overnight repos, and cash, USDS aims to differentiate itself by rewarding institutions that provide liquidity to its ecosystem. 💰
USDS will be the first stablecoin to promote innovation and offer incentives for network builders. 🔨
Institutions providing liquidity will earn a share of returns generated from the reserves, enhancing engagement. 💲
BitGo aims to secure $10 billion in assets within the first year of launch. 📈
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🎤 Vitalik Buterin Celebrates Ethereum Milestones at Token2049
At Token2049 in Singapore, Vitalik Buterin highlighted the significant drop in Ethereum Layer 2 (L2) transaction fees, now nearly zero, as a major achievement for the crypto ecosystem. He reminisced about his past struggles with high fees, including a staggering $800 for a single transaction. 👀
📉 Buterin noted that fees have plummeted from over $10 to under $0.01, making Ethereum more accessible.
Thanks to the Ethereum Merge, transaction confirmation times have improved, with Buterin reporting transactions confirmed in just 5 to 15 seconds. ⏳
He emphasized the need for the crypto industry to meet mainstream demands while preserving decentralization and open-source values.
And Buterin also sang a little song. 😁
At Token2049 in Singapore, Vitalik Buterin highlighted the significant drop in Ethereum Layer 2 (L2) transaction fees, now nearly zero, as a major achievement for the crypto ecosystem. He reminisced about his past struggles with high fees, including a staggering $800 for a single transaction. 👀
📉 Buterin noted that fees have plummeted from over $10 to under $0.01, making Ethereum more accessible.
Thanks to the Ethereum Merge, transaction confirmation times have improved, with Buterin reporting transactions confirmed in just 5 to 15 seconds. ⏳
He emphasized the need for the crypto industry to meet mainstream demands while preserving decentralization and open-source values.
And Buterin also sang a little song. 😁
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🚨 Kamala Harris Presidency Could Drive US Crypto Firms Abroad, Says Nansen CEO
👀 Nansen CEO Alex Svanevik states that a Trump presidency would likely be bullish for the US crypto sector, as he is seen as a pro-crypto candidate.
Conversely, if Kamala Harris wins, Svanevik believes it could foster a hostile environment for crypto in the US, prompting firms to relocate overseas.🌐💼
👀 Nansen CEO Alex Svanevik states that a Trump presidency would likely be bullish for the US crypto sector, as he is seen as a pro-crypto candidate.
Conversely, if Kamala Harris wins, Svanevik believes it could foster a hostile environment for crypto in the US, prompting firms to relocate overseas.🌐💼
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