Cryptocurrency

Significant changes in on-chain volume typically draw attention because they may indicate that market participants are putting themselves in a position to take advantage of impending moves, whether they be bullish or bearish. Based on the available information, the price of SHIB has been exhibiting a symmetrical triangle pattern, a technical configuration that typically results in a breakout in either direction when volatility decreases. This is in line with the usual behavior observed in these patterns, where volume tends to decrease as the asset gets closer to the triangle’s tip. This points to a potential spike in price volatility that might occur shortly and cause a breakout. Although the rise in major transactions might be seen as a bullish indication, there is no inherent bias in the symmetrical triangle. SHIB could surpass significant resistance levels like the $0.000018 mark with an upside breakout, indicating a more robust bullish trend. A downside break, though, might force the price back to test the $0.000016 level or even lower. It is still crucial to keep a close eye on the technical pattern and the on-chain data given the general sentiment of the market and SHIB’s relationship to Bitcoin and other significant assets. Large investors’ continued accumulation might serve as fuel for a longer-term price rebound. On the other hand, SHIB may find it difficult to hold its current price if momentum wanes.The price chart shows that Bitcoin is still fighting bearish pressure, as it has not been able to break through key resistance levels that would indicate a more robust recovery. Technical indicators of Bitcoin like the 50- and 200-day moving averages are currently in a range where further consolidation or further downward pressure on the price is possible. Bitcoin is stagnating, and one major reason for this is the lack of bullish momentum. Because bulls are not putting much effort into driving the price higher, BTC is susceptible to more declines. In addition, the asset appears to be circling around a neutral zone according to the Relative Strength Index (RSI), which indicates market indecision.Sellers are attempting to drive the price lower in an effort to capitalize on the market’s indecision, which is adding to the bearish pressure. If current circumstances continue, Bitcoin may test support levels at $58,000 to $59,000 – if it does not receive a significant push from bulls.Although there has been growing bearish pressure on the asset over the past week, Solana may be due for a rebound, according to the ascending trendline support. Such supports for trendlines have historically been important in reversing negative trends and creating the foundation for upward movement.If SOL is able to maintain this level, a rebound may start, which would mean an attempt to breach higher resistance levels. The $150 zone and the $145 mark,which correspond with recent resistances, are important levels to keep an eye on. A break above these levels of resistance may herald a more substantial recovery and provide the impetus for a longer-lasting upward trend. Subsequent selling may ensue if the present support level is broken. The next support is located at approximately $130. As of right now, the Relative Strength Index (RSI) suggests that Solana is not in an oversold area, which suggests that there may be room for further upward momentum. The RSI, however, is almost at neutral, indicating that the market is still uncertain.This article was originally published on U.Today More

The most recent period was no exception, when the cryptocurrency market was under fire due to unsatisfactory macroeconomic data. The businessman literally portrayed himself as a firefighter in uniform, with the BTC logo putting out the fire. This epic work of artificial intelligence was a companies by a “Bitcoin to the rescue” caption.However, what is happening in the economy, which is clearly in recession, is not necessarily the same as what market participants are seeing, and they seem to be expecting monetary easing to continue. In that case, you could say that Saylor is picking the right side, promoting Bitcoin as a safe haven in a time of market conflagration. However, there is little doubt that the businessman would have chosen BTC in any other situation as well.This article was originally published on U.Today More

This article was originally published on U.Today More

The market does not seem to be in a good mood at the moment either, as Bitcoin has lost over 2% in the last 24 hours, hitting a key support zone at $60,000. The ambition to break above $66,000 per BTC and achieve a new all-time high in so-called “Uptober” now looks more challenging than it did at the end of September.Back highlighted that a retest of the $58,000 level would be necessary for further action, indicating his strategy for dealing with the current situation. This level, previously a key support zone, has become an important marker for market participants navigating recent chaotic times on the cryptocurrency market.This level could be the next stop for Bitcoin if bulls give up at current levels and bears take over. However, a move below this level could open the door to as low as $52,000 per BTC, and beyond, to lows not seen since early August.The drop to $58,000 and the rise from there, if it happens, could be seen more as a bounce or a bear trap. If that is the case, then the strategy that Adam Back is preparing to implement could be of considerable benefit. But if $58,000 per BTC is not the last stop and the bottom is a double bottom, then you would do well to have more cash on hand.This article was originally published on U.Today More

Among them was the much-hyped documentary about the search for Satoshi Nakamoto, “Money Electric: Satoshi Mystery,” which was released earlier this week.The great thing about Bitcoin is that the creator remains unknown, Pomp said, suggesting that should Satoshi be exposed, it might have negative consequences if he were a carrier of certain political views or had a criminal past. As long as he remains a mystery, Bitcoin is much better off than other cryptocurrencies. “The world is better off not knowing who Satoshi was,” Pompliano insisted. He tweeted the same thing earlier this week too.As for the documentary itself, he stated that the creators put a lot of loose, random evidence together. If it should be watched, it should not be taken seriously, Pompliano believes, but rather only for entertainment purposes.Polina Pompliano insisted that a lot of people remain curious about the true identity of Satoshi. To that, Pompliano jokingly responded: “Put your curiosity back in your head.”On the other hand, Pompliano said that there are investors who are attracted by Vitalik Buterin’s high IQ level.As reported by U.Today, early Bitcoin investor Samson Mow, who was featured in the HBO documentary, shared a similar view on Satoshi today. He tweeted that Nakamoto knew that if Bitcoin became successful, “they’d come after him.”This article was originally published on U.Today More

The just-released report showed that overall inflation stood at 2.4% year-over-year, a slight decrease from the previous 2.5%, but still higher than the 2.3% forecasted by economists. Meanwhile, the “core” inflation measure, which excludes the more volatile food and fuel costs, edged up to 3.3%.After hitting $61,246 in the European session, the primary coin was down about 0.2%. Ethereum price slipped as much as 2.4% while other cryptocurrencies were down as well, including Polkadot (-1.1%). Higher-than-expected inflation numbers fuel speculation that the Fed will pause rate cuts, boosting the dollar’s strength and prompting risk aversion in the risky markets, including cryptocurrencies. The CME’s FedWatch tool now indicates an 85% probability that the Federal Reserve will cut interest rates by 25 basis points at its November 7 meeting, up from 65% a week ago. Previously, there was a 35% chance that the Fed might make another 50 basis-point cut before the end of the year, following the initial cut in September.Crypto prices have been highly sensitive to U.S. economic data in recent months, often reacting as investors lean towards stability instead of riskier assets.Meanwhile, it was a quiet day for Bitcoin ETFs despite outflows of over $30.5 million on Wednesday, with nine out of the 11 funds showing no movement in either direction. A day earlier, U.S.-listed BTC ETFs saw their highest inflows since September 27, with a net addition of $235.2 million. Fidelity Wise Origin Bitcoin Fund (NYSE:FBTC) led the way, bringing in $103.7 million, while BlackRock ‘s iShares Bitcoin Trust (NASDAQ:IBIT) followed with $97.9 million. Bitcoin ETFs have attracted nearly $19 billion in net inflows since January. However, Ether ETFs recorded zero flows in either direction yesterday, the second time this week and the third time since their launch that these funds have seen no activity, leaving them with net outflows of $562 million since their debut in July. Additional U.S. economic data set to be released on Thursday includes the weekly jobless claims report, real earnings figures, the monthly retail chain store sales index, and the Treasury budget statement for the month. More

Constellation Network’s “HyDef ‘24” conference will take place on Thursday, October 24, 2024, featuring a free daylong virtual event combined with a live in-person event for a nominal fee at 1 Hotel in San Francisco.Constellation Network is a unique Web3 framework with new open-source tooling that empowers companies and individuals to build blockchain networks for Big Data, creating trust and transparency around data collection, validation, and transacting. Nicknamed “America’s Blockchain,” Constellation Network actively works with entities such as the U.S. Military, The Digital Chamber, the Texas Blockchain Association, Space ISAC, and the National DigiFoundry. Constellation has been validated and approved by the U.S. Department of Defense through the Air Force Research Laboratory (AFRL) as a, “Scalable, Secure and Defense-Approved Blockchain technology.” Hackathon-winning projects will be showcased at the event where developers have leveraged Constellation’s big data transaction and validation capabilities to build apps that gather and validate data at scale. These apps feed the data into AI or causal models to give businesses and individuals insights based on more input than we’ve heretofore been able to process.Another HyDef highlight will be the long-awaited reveal of the details of the working relationship between Constellation and Panasonic (OTC:PCRFY). The work the two companies are doing together has the potential to bring Constellation’s technology and blockchain-secured edge computing to the world en masse in a meaningful way.The virtual event is free to attend with access via livestream to all keynote speeches, panel discussions, and hackathon showcases in real time. Virtual attendees can engage directly with speakers and panelists through Q&A and live chat features, and may connect with other attendees in virtual event spaces.About Constellation NetworkConstellation Network, founded in 2017, is a Blockchain ecosystem powered by the Hypergraph Transfer Protocol (HGTP), designed to secure, validate, and process data for Web3 applications. HGTP enables seamless and secure Blockchain communication, akin to how HTTP functions for the web. Constellation’s tools support building Blockchain networks for big data, fostering trust and transparency. Validated by the U.S. Department of Defense via the Air Force Research Laboratory (AFRL), Constellation is recognized as a scalable and secure Blockchain solution.Website: www.constellationnetwork.ioTwitter: https://twitter.com/Conste11ationTelegram: https://t.me/constellationcommunityContactConstellation co-founder, Head of Community, and conference organizerAltif BrownConstellation Network, [email protected] article was originally published on Chainwire More

In a recent transaction, the whale moved another $624,000 worth of Bitcoin to Kraken, a major U.S.-based exchange. Currently holding 1,149 BTC, worth approximately $69.94 million, the whale appears to be selling 10 BTC twice a week. If this trend continues, this unknown entity could unload all of its Bitcoin by mid-November 2025.What’s behind this activity and how the whale chooses its timing remains a mystery. The fact that it started mining Bitcoin just five days after it went live also raises de facto questions about its connections to those responsible for launching the first major blockchain and cryptocurrency. Many crypto market participants see such moves as the intention of serious whales to cash out as they move cryptocurrency from self-storage to platforms with more liquidity and fewer fees.Interestingly, the market does not feel right at the moment either, as Bitcoin has lost 2.45% in the last 24 hours, hitting a key support zone at $60,000. The ambition to break above $66,000 per BTC and hit a new all-time high in October now looks more challenging than it did 10 days ago.This article was originally published on U.Today More