Cryptocurrency

This withdrawal took place while Bitcoin continues to trade below the $70,000 price level. Despite Bitcoin’s recent price slump, data reveals that whales continue to stock up on the world’s largest cryptocurrency.Blockchain data shows that this whale now holds a smashing 51,710 BTC in total, which is the equivalent of more than $3.5 billion.The majority of the comments were bullish and encouraging: “Lessgoo,” “Keep scooping up $BTC on this dip let’s get it” and “This dude with a huge wallet won`t sell the next days. Seems to be a good sign.”Someone even asked, “What tf is cooking.”According to another on-chain data source on the X social media platform, Lookonchain, since Nov. 1, five large whales purchased 2,780 BTC (worth almost $200 million in fiat) cumulatively.Per @Lookonchain’s tweet, 880 BTC was withdrawn from Binance – this is where all five purchases were made. This whale currently holds 1,381 Bitcoins worth $95.12 million. The second whale bought 615 Bitcoins, moving them to his private wallet. A total of 595 BTC was withdrawn from Binance by the third wallet on this list – that is, $41.38 million.The fourth and the fifth whales bought 550 BTC (worth $38.68 million), and 140 BTC (valued at $9.48 million). One of those purchases was made while Bitcoin changed hands at $70,328. The rest of the BTC chunks were bought below it.Experts believe that the strong volatility now is being caused by the deep level of uncertainty due to the upcoming U.S. elections.This article was originally published on U.Today More

To celebrate the commencement of its first-ever Open Beta Test, MapleStory Universe has prepared several exciting in-game events and with an estimated in-game reward of up to 5 million NXPC. NXPC is a utility token used to facilitate interactions and enhance the user experience within the MapleStory Universe. With the event expected to be expanded in size of the first Pioneer Test in July, Participants can look forward to: For more information about the MapleStory Universe’s Pioneer Test, users can visit the Official Website, Discord, X, Facebook (NASDAQ:META) and Medium. About NEXPACENEXPACE, an innovative blockchain company based in Abu Dhabi, pioneers an IP-expansion initiative powered by blockchain technology and NFTs to build a community-driven ecosystem. With a mission to redefine interactive entertainment, NEXPACE creates a vibrant space for exploring, sharing, and engaging with diverse content and gameplay crafted by community members.At the heart of NEXPACE’s ecosystem are principles of transparency, security, and trust, empowering creators to freely share their ideas and enabling users to enjoy immersive experiences. By fostering a culture of creative expression, NEXPACE envisions a secure, collaborative environment that unites ecosystem participants in a thriving digital community.ContactGlobal PRBee ShinWachsmanbee.shin@wachsman.comThis article was originally published on Chainwire More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to add a special dose of holiday cheer this season with extra crypto trading rewards. Bybit users may qualify for bonus USDT with Bybit’s Structured Products, Spot and Futures trading.From today to Dec. 31, 2024, eligible users in select regions have the chance to get rewards while reaching their personal trading goals in multiple campaigns: 1. Making a Splash with Bybit Structured Products New users who sign up, make a first-time deposit and invest a minimum of 100 USDT in any Bybit Structured Product—whether it’s Dual Asset, Discount Buy, Double-Win, or Smart Leverage—will receive a 10 USDT bonus. The event is on a first-come, first-serve basis. 2. Bybit Spot and Futures Trading Carnival (NYSE:CCL)Eligible users in select regions (restrictions apply) may enjoy up to 388% APR by depositing at least 100 USDT within 7 days of signing up and staking the USDT on Bybit Savings. The campaigns are intended for eligible users in select regions who have fulfilled Bybit’s Identity Verification Level 1 only, restrictions apply. Users can see the terms and conditions. #Bybit / #TheCryptoArkAbout 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, please visit Bybit Press For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaDiscord | Facebook (NASDAQ:META) | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | YoutubeContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

In a note Monday, Bernstein emphasized Bitcoin’s long-term growth potential and its immunity to short-term political shifts, driven by structural factors like U.S. fiscal policy, high debt levels, and demand for hard assets.Bernstein noted, “Bitcoin remains the most resilient within crypto to election outcome,” highlighting that the cryptocurrency’s limited share of global financial assets leaves substantial room for growth, irrespective of who wins the election.Bernstein’s analysts explained that Bitcoin’s stability stems from fundamental demand drivers.”Bitcoin’s primary drivers remain U.S. fiscal indiscipline, record debt levels and monetary expansion,” they stated, suggesting that this environment increases appeal for assets like Bitcoin and gold.Additionally, the strong adoption of Bitcoin ETFs—amassing over $23 billion in inflows year-to-date—is said to add to the upward momentum.Bernstein set a price target of $200,000 for Bitcoin by 2025, unaffected by the election outcome.In the short term, however, Bernstein says Bitcoin’s price may see some volatility.The firm suggested that a Trump win could push Bitcoin toward new highs of $80,000–$90,000 by Inauguration Day, as Trump is seen as more pro-crypto. Alternatively, they believe a Harris win might lead to an initial dip toward $50,000 before potential recovery.”Trump is seen as the pro-crypto candidate,” Bernstein remarked, noting the Democratic candidate’s stance has been perceived as hawkish in recent years.Furthermore, the firm feels that other cryptocurrencies, such as Ethereum and Solana, could experience different impacts based on regulatory expectations tied to the election.Nonetheless, Bernstein sees Bitcoin’s mining and stablecoin sectors maintaining strength under either administration, as bipartisan support for stablecoins could advance regulatory frameworks supportive of broader crypto adoption. More

Deribit, the world’s premier Bitcoin and Ethereum options exchange, in partnership with SignalPlus, a leading options trading dashboard and analytics hub, is excited to unveil the second edition of the Winter Trading Competition 2024.This year’s competition offers participants a $200,000 USDC prize pool, along with various prizes such as iPhones, PlayStation 5s, and other rewards. Additionally, participants will benefit from valuable learning opportunities and insightful trading sessions designed to enhance their skills and strategies, making this the biggest and most rewarding crypto trading contest of the year.The Winter Trading Competition 2024 is open to all retail participants who utilize their Deribit accounts to trade cryptocurrency options, futures and spot on the SignalPlus platform. Registrations are open and will remain open until December 9th 2024. The competition begins today November 4th to December 9th, 2024, spanning 35 days of intense trading action.US Election Registration Bonus As an added incentive, traders who register by November 5 will receive a US Election Option, available as part of a limited-time bonus. Registrations remain open until December 9, 2024.About DeribitDeribit is a centralized, institutional-grade crypto derivatives exchange for options and futures trading. With state-of-the-art infrastructure, Deribit offers instantaneous price discovery, low-latency trading, advanced risk mitigation services, and deep liquidity through a network of top-tier market makers. Led by a team with decades of experience in options trading across all markets, Deribit facilitates a significant majority of all crypto options trading and adheres to robust proof of assets and liabilities procedures to ensure the highest standards.For more information: Official Website | Twitter | Linkedin | Telegram |About SignalPlusSignalPlus provides a world-class options trading dashboard that covers risk tracking, profit/loss attribution, strike and theta analysis. Users can execute multi-legged orders with embedded algorithms to minimize slippage and conduct in-depth profit/loss and exposure assessments using simulation tools and scenario analysis. SignalPlus also automates delta hedging across varying market conditions and offers real-time trade notifications through Telegram, empowering traders with the insights and tools needed for successful trading.ContactHead Of RetailSidrah FariqDeribitsidrah@deribit.comThis article was originally published on Chainwire More

Risk appetite was also strained by anticipation of a tight presidential election, while traders turned more skeptical towards speculative assets before a Federal Reserve meeting this week. Bitcoin rose 0.6% to $69,018.9 by 00:30 ET (05:30 GMT). Recent polls showed Donald Trump and Kamala Harris were headed for a tight race, with voting set for Tuesday. The race is expected to be largely determined by seven key battleground states.Trump was regarded as the more favorable candidate by crypto markets, given that he has presented a largely pro-crypto stance in recent campaigning. Harris, on the other hand, has pledged to a crypto regulatory framework, but has not elaborated on her stance towards the industry. Prediction markets over the past few weeks had largely favored a Trump victory. But this trend shifted over the past few sessions, with Harris regaining some ground. Online prediction site Polymarket showed Harris’ odds at 44%, up substantially from 35% last week, while Trump’s odds were at 56%, down sharply from the 66% seen last week. The shift was a large factor behind Bitcoin’s recent losses. The token had risen as high as $73,600 last week, coming within spitting distance of a record high hit in March this year.Broader crypto prices were also largely subdued, with anticipation of a Federal Reserve meeting later this week adding to the uncertainty. World no.2 crypto Ether rose 1% to $2,465.40, and was also nursing a sharp fall over the weekend. Among other altcoins, XRP and SOL were flat, while ADA and MATIC slid around 3% each. Among meme tokens, DOGE fell 0.3%. The Fed is widely expected to cut interest rates by 25 basis points- a smaller cut than the 50 bps cut in September. Any signals on future rate cuts will be closely watched, given that recent data showed some stickiness in U.S. inflation, while the labor market cooled.  More

When the market builds up enough momentum to push past predetermined resistance levels or decline toward support, such a pattern frequently serves as a prelude to a significant price movement. There could be a significant price increase for SHIB if this convergence is successful in producing an upward breakout. Crucial resistance levels are located around $0.000018 and $0.000019.A bullish rally might be fueled if these levels are broken, which would encourage more buying pressure. In contrast, if the volatility spike causes SHIB to decline, the asset must remain above the most recent trendline support, which is located at $0.0000168, in order to preserve the bullish structure. The Relative Strength Index (RSI) is presently in a neutral zone, which adds to the optimism by indicating that SHIB has potential for upward momentum without hitting overbought territory right away.As can be seen from the current chart, Dogecoin has seen a significant upswing in recent weeks, breaking through multiple resistance levels with considerable force. A price pullback is required for a more sustainable growth pattern because this type of abrupt ascent frequently results in overbought conditions. A classic technical setup in which an asset can reset before resuming its trend seems to be in line with the current retracement. A contributing factor to the positive perception of this correction is the existence of support surrounding the 50-day and 100-day EMAs.These moving averages may provide Dogecoin with a solid foundation from which to recover as they are currently convergent close to important price levels. According to technical analysis, these support levels can serve as launching pads, enhancing the asset’s ability to sustain its upward trend.As for market sentiment, Dogecoin continues to have a strong following, which will probably lead to fresh buying pressure once this correction levels off. Furthermore, the Relative Strength Index (RSI) has shifted away from overbought levels, suggesting that DOGE can now rise without encountering selling pressure right away.In uptrends, the 26 EMA, which is represented by the green line on the chart, frequently serves as a dynamic support level drawing buying interest during corrections. Bitcoin bounced back when it fell to this level in the past, and if the same support materializes now there may be a significant short-term rally. It’s important to understand that even though the 26 EMA provides a technical configuration that might lead to a reversal, this situation is not a surefire way to recover.Given the possibility of additional declines in the event that the EMA support fails, the recent downward momentum in Bitcoin calls for caution. Then BTC might retest lower supports such as the 50 or even 100 EMAs. However, Bitcoin may rapidly regain momentum and make another move toward the $70,000 mark if buyers get in at the 26 EMA. This level has turned into a psychological barrier, and a strong close above it might rekindle optimism and push Bitcoin to test its prior all-time highs.To summarize, the way that Bitcoin reacts to the 26 EMA could determine its short-term course. Even though a recovery could be sparked by this level, investors should be ready for either scenario.This article was originally published on U.Today More

As the data shows, average cash costs rose to $49,500 per BTC in Q2, 2024, up from $47,200 in Q1, and there’s no stopping it. The reason is that mining conditions are becoming more complex and capital intensive.According to reports, miners are still expanding their infrastructure despite high production costs and increasing difficulty. They are hoping that the Bitcoin price will rise to support future profitability.However, there are still some operational challenges as for example it is hard to get credit at a good rate right now, especially after things like the FTX collapse. And high interest rates are not helping.As a result, many miners have started issuing shares to fund their operations, which has led to dilution of ownership. While the Bitcoin price and miners’ stock prices have been more closely correlated lately, miners did not benefit from the price gains earlier in the year that were tied to the performance of spot Bitcoin ETF in the U.S.Top mining companies are also looking for new ways to manage rising costs. They are exploring options such as fixed-rate power contracts, high-density setups and artificial intelligence.As the industry braces for another halving, BTC miners are under pressure to improve cost efficiency and find alternative revenue streams to stay profitable.This article was originally published on U.Today More