Cryptocurrency

It is not known what this is related to or what the purpose is, nor is it known who is hiding behind these addresses. However, one of the clues that has surfaced is that, thanks to data from Arkham Intelligence, one of the sender addresses may belong to Fidelity Custody, a crypto custodian for one of the largest hedge funds in the world with approximately $5.4 trillion in assets under management. This year, Fidelity added its own spot Bitcoin ETF, FBTC, to its asset-heavy portfolio. Are these transfers some sort of internal operation to get their wallets in order, or is there more to it? It is an open question, and we should not rule anything out. In recent days, FBTC has seen more inflows than outflows.Perhaps the movement of $1 billion of Bitcoin between addresses is a confirmation that a new period of positive flows into Bitcoin ETFs awaits us for some time and, therefore, the presence of demand for the cryptocurrency. Demand is, of course, favorable for the price of BTC, which is frozen at 16.5% of its all-time high.This article was originally published on U.Today More

This complements their existing coverage of Iris Energy (IREN). Macquarie said in a note to clients that the companies are well-positioned to benefit from the evolving digital asset landscape, especially as they diversify their operations to include AI and high-performance computing (HPC).The firm highlighted two distinct strategies within the crypto-mining sector. One approach involves miners capitalizing on their access to power infrastructure by diversifying into hosting for non-crypto-related services, such as AI clients. However, analysts note that some miners prefer to stay focused on accumulating Bitcoin, betting on bullish price forecasts. In most cases though, growth mining capacity, and/or land/GPU acquisition for HPC/AI, is being achieved via dilutive equity issuance,” analysts noted.Macquarie said Core Scientific (CORZ) and Iris Energy (IREN) stand out for their early adoption of AI-related hosting, with Core Scientific leading through a hosting deal with CoreWeave, which positions it well in the growing demand for AI compute infrastructure. This is seen as a potential catalyst for significant growth.Cipher Mining (CIFR) is noted for hitting its stride with the completion of its Odessa site and new announcements supporting both Bitcoin mining and HPC. Analysts believe Cipher’s focus on power efficiency and scaling positions it for a near-term inflection in profitability, assigning a $6 target price.The firm said Riot Platforms (RIOT) continues to lead in Bitcoin cooling technology, particularly with its vertically integrated operations that include power and infrastructure management. Macquarie has set a $15 target price for Riot, recognizing its potential for operational efficiency.Finally, Marathon Digital (MARA) and CleanSpark (CLSK) are recognized for their broad exposure to the Bitcoin infrastructure and acquisition strategies, with target prices of $22 and $20, respectively. More

The head, right shoulder and left shoulder are the three peaks of the Head and Shoulders pattern. The shoulders on either side are lower but about the same height as the head, which is the highest peak. Bitcoin may make a significant move higher and create the conditions for a powerful rally if it breaks below the neckline, which is the support level connecting the shoulder’s lows. Assets that deviate from this pattern historically see large gains. Following a profitable Head and Shoulders pattern, assets typically grow by 30 to 40%, on average. With Bitcoin currently trading at roughly $63,800, a comparable percentage increase could push the cryptocurrency toward the $90,000 mark — a level that many traders have been predicting.It is crucial to remember that Bitcoin needs to overcome significant resistance levels in order for this pattern to fully materialize. The immediate obstacle is the $65,000 level, where Bitcoin has had difficulty keeping up its pace. The pattern may become invalid, and there may be a retracement toward $60,000 or even lower if the asset is unable to push above this level with significant volume.Support at $60,500 and $58,000 will be important levels to monitor on the downside. If the pattern fails and there is a breakdown below these levels, more downside could be anticipated. A bullish move toward $90,000, on the other hand, might be sparked by a break above $65,000 with significant volume.This article was originally published on U.Today More

A barrage of stimulus measures from China also aided overall sentiment, while markets positioned for interest rate cuts by Swiss and Swedish central banks this week, following the Federal Reserve’s first rate cut since 2020. Bitcoin rose 1.9% to $64,253.3 by 00:47 ET (04:47 GMT). The world’s biggest cryptocurrency marked a strong recovery over the past two weeks, as risk appetite was aided chiefly by a bumper interest rate cut by the Fed.The Fed also announced the start of an easing cycle that is expected to see rates fall by at least 125 basis points by end-2024, according to Citi analysts. Goldman Sachs expects the Fed to cut rates by 25 bps at each meeting between November and June 2025.Coindesk reported that Bitcoin needed to break sustainably above an August high of $65,000 to set up further gains, although the currency has struggled to maintain any levels above $65,000 since hitting a record high in March. Still, lower interest rates are expected to spur more flows into risk-driven, speculative assets such as cryptocurrencies in the coming months. But Bitcoin has largely lagged a rally in stock markets, as Wall Street hit record highs following the Fed’s decision. Sentiment towards crypto still remained relatively subdued, especially as retail interest waned this year. An uncertain regulatory outlook, in the face of a tight U.S. presidential race, also limited flows into crypto.Broader cryptocurrency prices rose tracking Bitcoin, although overall gains were limited. World no.2 crypto Ether rose 0.2% to $2,626.93. SOL and ADA led gains among altcoins, rising 3.7% and 7%, respectively. XRP rose 1%, while MATIC inched higher. Among meme tokens, DOGE rose 2.3%.Focus was on more upcoming cues on global interest rates in the coming days. Sweden’s Riskbank is widely expected to cut rates later on Wednesday, while the Swiss National Bank is expected to trim rates on Thursday.In the U.S., Fed Chair Jerome Powell is set to talk on Thursday, while PCE price index data- the Fed’s preferred inflation gauge- is due on Friday. More

Traders and investors are keeping a close eye out for this crossover, which could spark the next big rally, as Bitcoin is currently trading around $62,000. Technical indicators alone will probably not be enough to overcome the $65,000 resistance, though. A psychological barrier at the $65,000 level has proven difficult for Bitcoin to overcome in recent attempts. To get past this obstacle, Bitcoin currently needs a new wave of market enthusiasm and momentum. In line with the 100-day EMA, the next level of support for Bitcoin is located at $60,500. When the price has tested this important level of stability in recent market downturns, it has provided support. The $59,500 region, where buyers have regularly intervened to support the price, would be the next downside target to watch if BTC is unable to hold above this. While the approaching golden cross is a very bullish signal overall, an early breakout is not guaranteed. To push Bitcoin above the crucial $65,000 barrier, the market will still require outside influences such as heightened buying interest or encouraging macroeconomic news.This development is encouraging for Ethereum’s performance since it suggests that the market may be about to turn bullish again. The trading volume has been steadily declining, though, in spite of this technical success. This volume decline could be a sign of waning purchasing power, which begs the question of how long this upward trend can last.In the near future, Ethereum might find it difficult to rise without the trading volume required to support additional expansion. A pullback to the $2,600 level seems likely given the state of the market. Ethereum could also enter a period of consolidation or sideways trading, as traders wait for more significant momentum. Ethereum would probably trade in the range of $2,400 to $2,650, which would create a narrow range where price action could settle before making its next significant move. For buyers to step in if the price retraces further, the $2,500 level will serve as critical support during this phase. The asset will need a large volume boost to break through and attempt a further leg higher when Ethereum encounters resistance at $2,700 on the upside.BNB has had difficulty maintaining the upward momentum required to cross the $610 barrier, and it is currently trading at about $602. When trading volume seems to be leveling off following the initial surge, this level is the next resistance point, and failing to clear it could cause a pullback. BNB’s next support level is approximately $585, which coincides with the 50-day EMA. This level is crucial to preserving the bullish structure that has developed if BNB does retrace. A break below this might indicate a longer correction, which could take BNB back to the $550-$560 region where the 100-day EMA offers stronger support. All the same, the breakthrough is still a good thing because it shows that BNB can overcome important resistance levels. To continue rising, BNB will require a fresh wave of investor interest or a positive macroeconomic Catalyst, as the market as a whole is also beginning to slow. With the next significant target located around $650, traders should keep a careful eye on the $610 level as a sustained move above this resistance may pave the way for additional gains. Up until that point, the absence of momentum could keep BNB range-bound or cause a slight retreat.This article was originally published on U.Today More

According to a press release, the initiative seeks to support blockchain innovators by engaging university talent and developing a Polkadot-focused educational program.Founded by graduates from the University of Cambridge and The Wharton School, EasyA has over 1 million downloads and has even been named Apple’s App of the Day. The app continues to bring developers into Web3, hosting in-person hackathons in cities like San Francisco, London, and Singapore.The new university program will offer workshops, hackathons, and grants to help students develop projects within the Polkadot ecosystem. The nine-month project looks to strengthen Polkadot’s presence in academic circles and expand its developer base, drawing on the success of similar programs in the blockchain world, like Solana University.The demand for Web3 professionals is already rising quickly, offering competitive salaries and ample opportunities for growth. This spans a range of roles, from finance specialists and product managers to developers. As the industry grows, companies are looking for individuals who have both technical expertise and a solid understanding of decentralization and blockchain principles.The Web3 Foundation, the development agency for Polkadot, dedicates a prize pool of 10 million DOT tokens, roughly $65 million, to support the rollout of the Join-Accumulate Machine (JAM) upgrade for the Polkadot ecosystem.To qualify, participants need to meet specific criteria like importing and producing blocks, meeting performance standards on Kusama and Polkadot, and passing security audits. EasyA has been a key driver of developer activity on Polkadot, with nearly 1,000 startups coming out of their hackathons this year. The app touts itself as easy to use and fun to learn with, making it a popular choice for aspiring Web3 developers. EasyA’s alumni are said to have founded startups valued at over $2.5 billion and secured funding from top venture capital firms. Cognition AI, a company founded by EasyA hackathon winner Walden Yan, hit a $2 billion valuation in April. Walden originally pitched his idea for DALLE on the blockchain at an EasyA hackathon at Harvard in 2022.However, the complexities of blockchain technology—such as decentralized systems and diverse consensus algorithms—pose a steep learning curve, even for seasoned developers. The wide variety of networks, each with its own programming languages and tools, adds further challenges for newcomers.  More

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Floki is proud to announce that Valhalla, an innovative Web3 play-to-earn game, is in a groundbreaking partnership with Alliance, a leading global esports organization. The partnership with Alliance allows Valhalla to tap into the vast esports audience, introducing gamers to the benefits of Web3 while combining exciting gameplay with digital asset ownership.Valhalla is an MMORPG that combines open-world exploration with strategic turn-based combat. Players can earn rewards through gameplay and unlock in-game advantages through their skills and strategies.About FlokiFloki is the people’s cryptocurrency and utility token of the Floki Ecosystem. Floki aims to become the world’s most known and used cryptocurrency, focusing on utility, philanthropy, community, and marketing. Floki currently has over 490,000 holders and a strong brand recognized globally thanks to strategic marketing partnerships. Learn more at floki.comAbout ValhallaValhalla is a blockchain-based MMORPG inspired by Norse mythology. Players discover, tame, and battle with creatures called Veras, competing in a player-driven economy on a hexagonal battlefield. Learn more at Valhalla.game.About Alliance Founded in 2013, Alliance is a world-renowned esports organization known for its championship teams and top players. With 57 championship trophies and over 150 tournament wins across 18 esports titles, Alliance continues to lead in the global gaming industry. Learn more at thealliance.gg.ContactCommunity Relations OfficerPedro VidalFlokiMarketing@floki.comThis article was originally published on Chainwire More