Cryptocurrency

Around $0.55 is the first critical level to keep an eye on. Recent price action has prevented further declines by acting as a significant support level. If XRP will be able to maintain its current level, this might indicate a period of consolidation, allowing the market to settle in before making further moves. Nevertheless, a breakdown below $0.55 might allow for additional declines and possibly result in a retest of earlier support levels.An important psychological threshold that has historically supported and opposed XRP is the $0.50 mark. The next area of interest is $0.50 should the price drop below $0.55. Investor confidence depends on maintaining this level because a decline below $0.50 might signal a more serious correction, undermining the optimistic outlook for the near future.Upside $0.60 is still a crucial resistance level. The recent bullish potential of XRP has been constrained by its inability to establish a foothold above this level. A rally toward higher targets may be initiated and more buying interest may be attracted if the price can break and hold above $0.60. A breakthrough of this barrier would be a sign of an upcoming XRP reversal.The news of Durov’s release and subsequent lockdown in France caused TON’s price to briefly rise, but this gain was fleeting as the price soon lost steam. Despite the high trading volume, this sluggish price action is indicative of a wider market fatigue in cryptocurrencies.Without many new innovations or price-boosting catalysts, the market has been stagnant. Toncoin is one of many assets in a state of uncertainty as a result of investors’ apparent caution and the lack of new exciting ventures in the cryptocurrency space.It is crucial to remember that Toncoin still has a solid foundation in spite of these difficulties. It is supported by Telegram, one of the most resilient ecosystems in the cryptocurrency space. Toncoin’s long-term potential is well-founded due to the robust community support and the coin’s integration into the Telegram ecosystem. Even fundamentally sound projects, though, are finding it difficult to gain traction in the current market conditions.A critical technical signal this breakdown points to the end of the current local uptrend and suggests that the recent bullish momentum for Bitcoin has stopped. One of the main technical and psychological obstacles for Bitcoin has been the $60,000 mark. The recent decline is the result of strong selling pressure that has been applied to multiple attempts to break above this level.The inability to maintain a move above $60,000 is indicative of the uncertainty that the market is currently experiencing as well as the lack of bullish conviction that is necessary to push prices higher. It is especially concerning for traders and investors when the breakdown occurs below the 200-day EMA.Long-term market trends are frequently seen to be best predicted by the 200-day EMA. Bitcoin is usually regarded as being in a bullish phase when it trades above this line. On the other hand, a possible change toward a bearish trend is indicated when the price falls below the 200-day EMA.The local uptrend that started earlier this year may be coming to an end given that Bitcoin has now fallen below this crucial level. A further sign of doom is the relative strength index (RSI), which has fallen below 50 and suggests a loss of momentum. The idea that Bitcoin may find it difficult to regain its footing in the near future is further supported by the volume’s decline, which also seems to indicate a decline in buying interest.This article was originally published on U.Today More

However, the experts at Spot On Chain refuse to just accept the high probability of a negative September and offer five key reasons why this time could be different for BTC. Funnily, one of the main arguments is based on historical patterns that may not always be relevant. Thus, Spot On Chain points out that nearly 43% of years with negative Augusts have been followed by positive Septembers. This suggests that the market could see a rebound, despite the usual negative sentiment.It is also worth mentioning that the U.S. government still holds over 203,000 BTC, but has been cautious in its recent movements, opting for over-the-counter sales that minimize market impact. This reduction in selling pressure could help keep the market stable.Furthermore, long-term holders remain strong, adding 262,000 BTC to their positions in August. These holders now control 75% of the total supply, signaling confidence in the asset’s future. Top anonymous wallets, holding significant amounts of Bitcoin, have also remained inactive, further reducing the likelihood of sudden sell-offs.There are other things that could affect the market too. With the Federal Reserve possibly cutting interest rates and FTX paying back $16 billion in cash, there could be more demand for Bitcoin. Also, growing political support for favorable cryptocurrency regulations in the U.S. could make investors more confident and give Bitcoin another boost this September.This article was originally published on U.Today More

In a recent tweet, Ali Martinez noted that while Bitcoin played out its historical narrative for August, similar expectations exist for September typically believed to be a negative month for Bitcoin.However, recent insights from Spot On Chain, shared in a thread of tweets, suggest five reasons why this year might be different.First, negative Augusts may help to avoid a negative September. In other reasons cited, major selling pressures have cleared and long-term holders remain strong. Fourth, Bitcoin ETFs can be a renewed buying force and lastly, favorable interest rates, capital and regulations might help to boost the market in September.Second, selling pressure has substantially declined for Bitcoin. Three major selling forces unloaded 170,917 BTC or $10.69 billion to the market in July and August, including the German government, which sold 49,859 BTC worth $3 billion in early July and no longer holds BTC. Mt Gox repaid 95,958 BTC in July and August and still holds 44,898 BTC worth $2.65 billion, or only a third of the initial holding. GenesisTrading distributed 24,068 BTC for repayment on Aug. 2 and no longer holds BTC.However, the U.S. government still holds 203,650 confiscated BTC worth $12 billion, and like in the German government case, this can be a big selling force. However, recent actions suggest limited near-term sell-off risk.In 2023 and 2024, the U.S. government moved 35,516 BTC worth $1.48 billion to Coinbase (NASDAQ:COIN) at nearly $41,637, but overall there were only weak price reactions because most sales were done via OTC with minimal impact on the market.Long-term holders, which increased their supply by 262,000 BTC in August, bringing their total holding to 14.82 million BTC, or 75% of the total supply, remain another positive factor. Similarly, BTC ETFs can be a renewed buying force, if the pattern of alternating between positive and negative months continues.Other potential buying simulators include the likelihood of FED cutting the interest rate in September, which could boost demand for risky assets like BTC or Bitcoin ETFs. FTX will repay $16 billion to creditors in cash, not crypto, which can be reinjected into BTC and the broad market.This article was originally published on U.Today More

In early June, the JAN3 boss also touched on that topic. According to that tweet, Mow believes that in order to finally surpass $100,000, the world’s largest cryptocurrency Bitcoin needs first to exceed the all-time high of $73,750 it managed to achieve in March.After that, Mow continued, the recursive demand shock will step in and will drive BTC all the way above the $100,000 price line.In one of his tweets published this summer, Mow said he expects Bitcoin to skyrocket to a whopping $1,000,000 within the next year. Even if it happens later than this time frame, he said later, it is still a matter of the nearest future.Those describe stages of attitude of crypto investors to Bitcoin as they begin to like and understand BTC stronger and finally come to Max Keiser’s famous thesis that “everything is going to zero against Bitcoin.”The first stage is “I just heard about BTC, I can fix it.” The second one shows an investor’s admiration toward Bitcoin, even though it is not as high as that to altcoins. That is followed by beginning to use BTC for payments (adoption). Then Bitcoin becomes a new asset class for investors and the “best store of value ever.”By saying that the third stage is being implemented in El Salvador now, where Keiser is the president’s advisor on BTC, he admitted that these stages do not only describe retail investors but also countries. Keiser expects the fourth stage (“BTC = new asset class; best store of value ever”) to arrive soon in the U.S. as well.This article was originally published on U.Today More

Depositing to exchanges typically indicates an intention to sell, while withdrawals suggest an intent to buy. Whether this move signals selling or a strategic play remains unknown.According to Glassnode’s most recent weekly report, net capital inflows into Bitcoin have slowed in recent months. This suggests a degree of equilibrium is reached between investors taking profit and loss.Notably, capital inflows into the Bitcoin market are rarely this quiet, with 89% of days seeing a greater capital inflow (excluding loss-dominated bear markets).After reaching all-time highs of nearly $74,000 in mid-March, the confidence of new investors was tested by choppy sideways price action for several months. Throughout this process, a major portion of the Bitcoin supply has remained securely held and is in the three-month to six-month age range.This view is supported by on-chain analytics firm CryptoQuant, which indicated that the Bitcoin market cycle indicator is again in the bear phase. This observation was made by CryptoQuant head of Research, Julio Moreno, who also stated that from a valuation perspective, if the Bitcoin price pierces $56,000 to the downside, it stands the risk of a larger correction increase.At the time of writing, Bitcoin was down 1.05% in the last 24 hours to $59,005 amid sideways choppy trading price action in the week. The lead cryptocurrency is tending toward a bearish close in August, already down 8.44% for the month.Despite Bitcoin’s lackluster trading activity, Santiment noted that Bitcoin whales are growing in number. In just one month, there has been a net increase of 283 wallets holding at least 100 BTC, with the current total of 16,120 such wallets on the network, shattering a 17-month high.This article was originally published on U.Today More

It is especially concerning because volatility has always been the main feature and attraction of Shiba Inu’s trading patterns; the once-vibrant volatility has greatly decreased. A look at the price chart reveals a concerning trend: since its peak earlier this year, Shiba Inu has been declining. The asset has made an effort to rebound, but it has not been able to breach important resistance levels, such as the 50-day EMA. This inability to make up ground has resulted in a substantial loss of confidence, which has further reduced trading volume and market interest. The decline in the volatility of SHIB is among the most alarming aspects of its current situation. Shiba Inu has long been popular among speculative traders and ordinary investors seeking quick profits due to SHIB’s capacity for swift price movements. But the current lack of volatility indicates that SHIB may be losing steam. A lack of volatility can be the death knell for a token like SHIB, which mainly depends on market excitement and speculative interest.Shiba Inu runs the risk of going extinct if its previous volatility does not return. According to the current trend, SHIB may continue to lose value and even lose its place on the market unless there is a major catalyst that spurs interest and moves prices. Shiba Inu is still in a risky situation for the time being, and the upcoming weeks will be crucial in deciding its future.The chart shows that Toncoin’s price has recently fallen below important support levels, indicating that it has struggled to continue on its upward trajectory. The fact that the recovery abruptly stopped indicates that TON is being severely impacted by the state of the market. Large-scale purchases from whales were a major factor in the first boost, which looked encouraging. But even these big names started to back off as the mood on the market soured, leaving TON open to more losses. Toncoin’s fundamentals are still solid despite the present market difficulties. Telegram, a platform with a sizable user base, and a quickly growing ecosystem is closely linked to the cryptocurrency. Something that many other cryptocurrencies lack, this connection gives TON a strong foundation. Further more, the TON ecosystem’s continuous development, which includes a range of decentralized services and applications, is still showing promise. But the main worry right now is whether TON can get back the momentum it lost. The cryptocurrency market as a whole has been unstable, and investors are growing more wary. Renewed investor confidence and a more advantageous market climate are likely to be necessary for Toncoin to resume its recovery.Because there is not enough buying support to propel its value much higher, Bitcoin is currently stuck in the middle of a trading range. Bitcoin is seen on the chart bouncing between significant moving averages, but there is no noticeable breakout or breakdown. Since there is no clear trend on the market, some investors are simply staying out of the market to avoid unexpected movements. This lack of direction has caused the market to stagnate. The problem is that the market is not currently experiencing enough momentum to raise the price of Bitcoin. There does not seem to be much buying support, which could be caused by a number of things, such as regulatory worries, macroeconomic uncertainties or a general lack of investor confidence. Bitcoin is thus stuck in this chop zone, where there are frequent price fluctuations, but little actual progress is made. Looking ahead, things are still unclear. If the current degree of volatility continues, we may witness more abrupt ephemeral movements devoid of a clear trend. If selling pressure builds up, there is a chance that prices will drop even further, particularly if Bitcoin is unable to maintain above important support levels.This article was originally published on U.Today More

This article was originally published on U.Today More

Saylor’s tweet was accompanied by an image that explained his caption. The image bore a mathematical formula derived from Bitcoin variables: 32, which is the total number of halvings to ever occur; 210,000, which is the number of blocks between halvings; 50, which is the number of new Bitcoins issued per block and, lastly, the cumulative number of halvings so far, which is 2i.The timing of Saylor’s tweet coincides with a period of volatility on the cryptocurrency market, where Bitcoin experienced a significant price drop. Several factors have contributed to this decline, including macroeconomic uncertainties and profit-taking by investors.Several crypto assets are in the red, with Bitcoin down 3.34% in the last 24 hours to $58,167. Bitcoin experienced profit-taking after reaching highs of $61, 194 in yesterday’s trading session, falling to an intraday low of $58,027 at press time after losing the $59,000 level.Ethereum, Shiba Inu, Solana and Chainlink posted losses between 3% and 6%. FET, TAO, WIF and Floki had larger losses between 7% and 18%.MicroStrategy, led by Saylor, declared 226,500 Bitcoin holdings on July 31, up a few coins since its most recent purchase announcement in mid-June. The 226,500 Bitcoins were purchased for $8.3 billion, or an average of $36,821 per token. For Saylor and MicroStrategy, Bitcoin is not a speculative gamble but a carefully considered strategy.Saylor recently stated that he becomes more bullish on Bitcoin with each passing day.This article was originally published on U.Today More