Aurelia Butler

Following its recent surge, traders are beginning to cash out or face forced liquidations, indicating hesitancy on the part of Bitcoin, which is frequently referred to as digital gold. According to the liquidation heatmap, Bitcoin comes in second, with $46.75 million in liquidated positions, while Ethereum leads with $57.43 million. This indicates that there are significant sell-offs occurring in both of the top assets. The fact that longs made up the majority of these liquidations shows how the market correction caught overly leveraged bulls off guard. The majority of liquidations on exchanges are attributed to Binance and OKX, indicating that traders on these platforms were placing extremely leveraged bets. Bitcoin tested the descending trendline resistance from earlier this year, but it was unable to make a significant break above it, according to our analysis of the price chart. The price experienced a steep retracement after reaching $68,000, indicating a possible rejection. In the event that the price is unable to recover momentum, the 50 EMA and 100 EMA may indicate consolidation or a brief correction. The next significant level of support for Bitcoin in this erratic climate is approximately $64,000, with additional downside risk if the bulls do not intervene quickly. If liquidation pressure increases, the market may be further dragged lower as the bearish sentiment continues to grow. On the upside, Bitcoin must recover and hold above $67,000 in order to restore confidence in a bullish continuation. All things considered, the current condition of the market is dubious, with price retracements and liquidation spikes fostering an unstable atmosphere. Because of the ongoing volatility, investors should exercise caution.This article was originally published on U.Today More

Polkadot’s platform allows developers to bypass the hassle of setting up their own bridges and apps, Tabrizi said. Instead, they inherit these features directly from the infrastructure, functioning like a Web3 cloud server.Polkadot provides native access to data availability systems at no extra cost, simplifying the development process. “It’s an all-in-one solution for building, just like you’d expect from a Web3 server,” he said.Polkadot’s system is one of the most energy-efficient and resilient in the blockchain space, Tabrizi added. It can produce blocks in just 0.5 seconds and secure up to 150,000 transactions per second (TPS) across 100 cores, rivaling top vertical scaling solutions without sacrificing resilience.Decentralization remains at the heart of Polkadot’s vision, and community participation continues to grow. Tabrizi shared that over 1,200 proposals have been made this year with a 32 million DOT turnout. Additionally, over 15,000 people completed free introductory courses, while hundreds of students at university level are learning to build Web3 systems through Polkadot’s programs.Polkadot’s ecosystem also hosts projects like Hydration, a DeFi chain controlled by its DAO, and Mythical, a gaming chain that ranked among the top four in NFT sales after switching from Ethereum to Polkadot. According to Tabrizi, the gaming company was attracted by Polkadot’s scalability and performance.Perhaps one of Polkadot’s most interesting projects is its partnership with Mandala to bring Indonesia’s government functions on-chain. “Polkadot is the only infrastructure that can scale to Indonesia’s needs, both today and in the future,” Tabrizi stated, elaborating on this collaboration with the world’s fourth-largest population.Tabrizi urged developers to get involved, noting that Polkadot offers open access to its tech and community, along with the best performance-to-price ratio for those ready to build in the Web3 space. More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, captures the pulse of underlying currents of BTC options in its latest crypto derivatives report. The in-depth report offers a comprehensive view of BTC’s implied price volatility beneath the recent price surge in BTC spot prices on the surface. The findings suggest the positive movements in BTC spot places did not translate directly to the derivatives market, and short-term volatility lurks as investors are now holding out for the U.S. election results before acting on the current bullish trends. It also showed BTC’s dominance over ETH in traders’ positioning.Key Insights:Futures movements lag behind Perps: The modest increase in futures open interest has not matched the recent notable bullish movements of BTC spot prices, and the market has yet to see the levels prior to the option expiration in late Sep.Perps ride the bull run: By contract, perpetual swap open interest has been on the rise reaching a new high in months. Spikes in trading activities and increased participation in perpetual contracts mirrored the optimism in the recent rally. Election suspense in BTC Options Volatility: The relative stability of short-term options does not signal significant price chances for BTC in the near term, but tension tied to the uncertainty of the U.S. election could trigger movements post-result, which has shown a bigger effect on BTC volatility than the recent surge in spot prices.Access the Full Report:To read the full report in context here for a deep dive into the latest crypto derivatives trading trends and signals. #Bybit / #TheCryptoArk /#BybitResearchAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press For media inquiries, users can contact: [email protected] more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaDiscord | Facebook (NASDAQ:META) | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YoutubeContactHead of PRTony [email protected] article was originally published on Chainwire More

Scroll, the leading zero-knowledge rollup for Ethereum, announced the launch of its native token, $SCR today. With the introduction of $SCR, Scroll recognizes its global community of contributors for their ongoing support and aims to provide everyone, everywhere with opportunities to participate in the decentralized future of Scroll. $SCR will be distributed to Scroll contributors through thoughtfully designed allocations to maximize impact in creating opportunities for a decentralized global community. Initial distribution of $SCR will include an airdrop to participants who contributed to onchain activities, projects that have built on Scroll, industry contributors (such as technical contributors, zero-knowledge researchers, open-source developers, public goods organizations, and educational data providers) as well as broader global community organizers, hackathon winners, Road to DevCon and Ethereum translators. The design of this first airdrop recognizes the importance of Scroll contributors’ participation, involvement, and community support. In addition, Scroll will be introducing the next generation of reward programs, to generate new ways of fostering innovation and elevating support for the Scroll community. Scroll Open, a new program designed to reward the most innovative, creative, and fast-growing builders on Scroll will provide retro grants with a potential allocation size of US$100 million. Using advanced zero-knowledge technology, Scroll has the fastest finality among all rollups, making it a cornerstone of the platform’s security and interoperability. This innovation transforms finality from a mere technical milestone into a vital feature that will drive the resilience of the entire network, further enhancing the utility of $SCR within the ecosystem.Scroll is the leading zero-knowledge rollup. Leveraging fast finality and high throughput, Scroll is creating a more accessible, and secure onchain future for everyone. Our mission is to provide an easy-to-use, developer-friendly environment to scale Ethereum for good. Scroll empowers builders to ascend beyond today’s limitations and drive real-world impact. For more information, users can visit scroll.io.ContactHead of CommunicationsRyan [email protected] article was originally published on Chainwire More

As of right now, XRP’s technical outlook is not good. The 200 EMA is currently a strong resistance barrier and has been the asset’s biggest obstacle to breaking above important levels on multiple occasions. XRP is unlikely to enter a more sustained recovery unless it breaks above this important moving average.card The declining volume pattern, which indicates waning interest from traders and investors, highlights XRP’s poor performance even more. Furthermore, the general sentiment of the market has not been in favor of XRP, as other top 10 assets have demonstrated signs of recovery or growth while XRP has lagged behind.The potential for XRP to break through the 200 EMA is its only chance. If this level is successfully pushed up, buying interest may increase, and the asset may begin a much-needed reversal. Until that occurs, though, XRP is still vulnerable to additional drops, with support levels at $0.50 and below offering some temporary stability.This upward trend is crucial because it seems that Bitcoin is now well-positioned to reach new heights, with $70,000 serving as the next major psychological barrier. Bitcoin might target $75,000 if the bullish trend continues. At that price, more traders and institutional investors might enter the market, which could push prices even higher. Looking beyond that, many investors’ ultimate objective is to see Bitcoin reach its highest point ever, which was close to $69,000 in 2021. The market has been cautious, but if Bitcoin keeps up its momentum and holds above important support zones, this breakout might rekindle hopes of hitting those levels. The closest immediate support is $65,900, and Bitcoin would have a stronger case for more bullish movement if it could hold above this level.Bitcoin’s breakout has, all things considered, given the market much-needed optimism. If the volume keeps increasing, we may witness a further push toward higher price targets, with the possibility that it will surpass its prior all-time highs and set new records in the months to come. The market’s spirit and SOL’s capacity to maintain above the important moving averages, such as the 50, 100 and 200 EMAs, are supporting the current uptrend. In the short term, though, there are certain worries that might limit the upside. Notably, SOL tokens valued at $88 million are about to be unlocked in the next few days. Increased selling pressure brought on by this infusion of liquidity onto the market may cause Solana’s remarkable ascent to stall or slow.The market’s response to this event and its timing will be critical factors in determining SOL’s short-term performance. On the plus side, the $180 mark becomes the next psychological barrier that bulls must overcome if Solana can maintain its momentum and withstand any possible selling pressure from the unlocking event. If the market’s bullish sentiment and high volume persist, $200 is a significant target that may become reachable. The $150 and $140 levels, which have historically served as support, will be used by traders as a safeguard against the downside. In spite of possible obstacles, Solana’s ability to maintain above these levels would indicate that the upward trend is still strong.This article was originally published on U.Today More