Multiple analysts believe Bitcoin will enter a correction in the near term, with the worst outcome projecting a drop to $30,000. However, the fall is unlikely to start a bear phase. Look Into Bitcoin creator Philip Swift said that on-chain data suggests that the Bitcoin bull market is still in its early stages as there is “no FOMO yet.”Continue Reading on Cointelegraph More
The broader crypto market witnessed diverse trends today, with KILT Protocol (KILT) dropping by 7.1% to $0.38, while Aidi Finance (AIDI), Zoo Token (ZOOT), and CareCoin (CARES) each saw a decline of 2.2%. In contrast, OmniaVerse (OMNIA) surged by an impressive 9.9%, and Kitty Inu (KITTY) climbed by 1.9% to reach $95.84. Hokkaidu Inu (HOKK) also posted modest gains of 1.2%. Amidst these shifts, Lego Coin remained stable, Jeff in Space (JEFF) fell by 2.2%, and Lumi Credits (LUMI) ticked up slightly by 0.2%.For those interested in investing in Umee tokens, it is important to note that direct purchases with USD are not available; investors must initially buy Ethereum or Bitcoin to exchange for Umee. The cryptocurrency was launched on February 14th, 2022, and has a large total token supply with billions circulating in the market. Umee’s platform is built on the Tendermint BFT consensus mechanism and includes governance features designed to enhance user experience across different blockchain networks.In other news, LUXO Token recently entered the market on April 28th, 2022, with a substantial total supply of one billion tokens and over eighty-two million in circulation. As part of the Luxochain ecosystem, LUXO aims to improve sustainability and verify authenticity within the luxury goods sector through advanced blockchain tracking solutions.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Wallis pinpointed key factors behind financial exclusion, including low incomes and a lack of existing ties with financial institutions, leading to the absence of a credit history. In regions with financial exclusion, banks are often commercial entities driven by shareholder interests, posing challenges in serving individuals with limited resources, as generating profits from such a demographic is difficult.Continue Reading on Cointelegraph More
The overall crypto market presented a mixed picture with several altcoins registering varied movements. BNB rose by 1.27% to $244.81, and XRP made slight gains, increasing to $0.66 (up 0.85%). Cardano stood out with a notable increase of 4.09% to $0.33. In contrast, Dogecoin fell by 6.08% to $0.077.Solana displayed resilience over the week with a positive momentum of 2.18%, trading at $58.44. Polka Dot and Shiba Inu were among the cryptocurrencies that faced weekly declines, with Polka Dot down by 4.08%.The top gainers included Render, Arweave, FTX Token, KuCoin Token, and Oasis Network, each posting significant returns within the last day.Stablecoins such as Tether and USD Coin managed to stay close to their pegged values, while Binance USD experienced a slight decrease.The DeFi sector witnessed fluctuations with tokens like Avalanche and Chainlink seeing decreases in value, whereas Wrapped Bitcoin saw a marginal uptick.NFT assets generally faced downturns with Internet Computer and Immutable experiencing notable declines.Despite these mixed performances across various cryptocurrencies and sectors, the global crypto market cap held steady at $1.39 trillion with a daily volume surge indicating robust trading activity.Polygon’s nearly four percent increase over the week contrasted with the losses seen by other tokens, highlighting the unpredictable nature of cryptocurrency markets.Investors continue to navigate through the volatility inherent in digital assets as they assess market dynamics and potential opportunities within this diverse financial landscape.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The legal proceedings have entered a remedies-focused stage of discovery, with Ripple gearing up to defend against possible punitive measures from the SEC due by April next year. The court has set a February deadline for this phase. Legal experts suggest that precedents may limit disgorgement related to XRP’s institutional sales within U.S. jurisdiction.Amidst these developments, XRP’s value experienced volatility. It dipped to $0.6107 on Saturday, reflecting investor reactions to the ongoing case; however, no new information emerged that day regarding the Bill Hinman speech documents, which have been a point of contention in the lawsuit.As the market digests the implications of Judge Analisa Torres’ recent decisions, attention is also turning to another significant legal confrontation: the upcoming court hearing between the SEC and Coinbase (NASDAQ:COIN) on January 17. The outcome of this hearing could reshape the regulatory landscape for digital assets in the United States. Coinbase has gained notable support from Senator Cynthia Lummis, who submitted an amicus curiae brief advocating against the SEC’s regulatory claims.From a technical perspective, despite short-term bearish sentiment, XRP is maintaining its position above critical Exponential Moving Averages (EMAs), which some traders interpret as a sign of long-term bullishness. Resistance and support levels are currently pegged at $0.6354 and $0.5835 respectively. Meanwhile, Relative Strength Index (RSI) indicators suggest that XRP could approach oversold conditions if it touches key trend lines.Investors and market observers alike are closely monitoring these legal developments, understanding that their outcomes could have far-reaching implications for cryptocurrency regulation and enforcement in the United States.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Despite facing a weekly decline of 1.42%, BTC’s price showed resilience today with a modest daily increase of 0.66%, trading at $36,612.18. The currency continues to hold its dominant position in the market, experiencing a slight decrease in dominance rate by 0.19% to settle at 51.45%.Historically, Bitcoin has seen significant price fluctuations around its halving events, which occur approximately every four years and reduce the rate at which new bitcoins are generated by miners. The halving mechanism is designed to create scarcity and potentially drive up the value of the cryptocurrency over time. Previous lows witnessed during these periods include $176 on January 14, 2015, $3,185 in December 2018, and $15,758 in November 2022.Investors and enthusiasts are closely observing these patterns as they prepare for the upcoming halving in April 2024. It is speculated that this event might have an impact on Bitcoin’s price dynamics similar to past occurrences.Crypto Tea, the source reporting on Bitcoin’s latest milestone, concluded its article with a standard advisory disclaimer. It emphasized that the content provided should not be considered financial advice and encouraged readers to exercise caution when engaging with cryptocurrency markets.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Bitcoin has recently outperformed Ethereum in network transactions for the first time in three years, yet it remains confined within a narrow trading band between $36.8k and $35.9k. Market watchers suggest that if Bitcoin cannot sustain upward momentum, it may test the support zone around $34k.In contrast, several altcoins are demonstrating resilience amidst the broader market uncertainty. XRP is preparing for further gains after favorable outcomes in its legal battles against the SEC, though it currently faces resistance near $0.75 and finds support at $0.6. ThorChain’s native token RUNE is capitalizing on high decentralized exchange (DEX) activity through ThorSwap, having surged more than eightfold from its yearly lows and now targeting an $8 resistance break.Dogecoin (DOGE) remains steady above critical support levels, with price formations indicating a potential uptick. Render Token (RNDR) is riding the wave of AI-driven interest in crypto, and newcomer TIA has seen exponential growth since its introduction to the market.The performance of these altcoins could be further bolstered if the total market capitalization for altcoins can breach the key resistance at the 50-day Exponential Moving Average (EMA), currently around a $680 billion valuation.Investors and traders alike are poised to see how these dynamics will unfold, especially with the possibility of a new Bitcoin spot ETF on the horizon, which could attract a fresh influx of institutional investment into the crypto space.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The “max pain point” — the price level at which the most options would expire, worthless — is currently $36,000 for Bitcoin and $1,900 for Ethereum. Historically, prices tend to gravitate toward the max pain point as expiration approaches, causing traders to adjust their positions, which can lead to increased volatility.The Put/Call Ratio, at 0.49 for BTC and 0.41 for , indicates a higher number of call options, suggesting bullish sentiment among option holders. However, this ratio also underlines the risk of a sharp move in either direction, as options near their expiration.Looking back, significant options expiries have often coincided with increased trading activity and price swings, as market participants hedge their bets or double down on their market expectations. For instance, past expiries have sometimes led to a decline in prices as traders sell the underlying asset to manage their exposure, while other times, a rally follows if the sentiment is bullish enough to absorb the selling pressure.As these options expire, the immediate effects on the market will depend on the current sentiment and positioning of market players. While the expiry itself may not dictate long-term price trends, it can serve as a catalyst for short-term price movements. Investors and traders will be watching closely to see if the market aligns with historical patterns or if it charts a new course in response to the current economic landscape. This article was originally published on U.Today More
