Cryptocurrency

To Peter Brandt, Dogecoin is exhibiting a blow-off top but with a visible correction through the falling wedge pattern. The coin also exhibits a double bottom with a complex correction following the completion of this pattern. The veteran trader said DOGE is in the part of the life cycle where BTC was in May 2016. Notably, Brandt confirmed that a similar chart in the spring of 2016 is what first made him a major Bitcoin investor. While there are many DOGE whales, it remains unclear whether Peter Brandt holds or plans to buy Dogecoin at this point.Brandt noted that the coin’s growth has a somewhat strong correlation with that of Bitcoin. After a massive rally over the past week, BTC has also been cooling off, and in the midterm, it may return to its uptrend and drag DOGE along with it.This article was originally published on U.Today More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is rolling out a trio of exciting perks for block traders on Bybit P2P. With a generous 10,000 USDT in bonuses up for grabs, Bybit P2P lifts year-end spirit for both newcomers exploring large-ticket trades and seasoned merchants, making high-value transactions more rewarding than ever.Block trading allows the private buying or selling of large amounts of cryptocurrency between two parties. It enables swift, single-step transactions without involving multiple orders typically required of a regular order in an exchange. Block trades may reduce the risk of slippage and often come with discounted transaction costs. From now to Dec. 27, 2024, Bybit P2P users who sign up for the P2P Block Trading Blast event may qualify for the following exclusive perks. Registration is required, terms and conditions apply: New Users Exclusive: 3,000 USDT Prize Pool (NASDAQ:POOL).The first 15 users to complete the first Block Trading transaction during the event period will unlock a 200 USDT bonus. For all users: 3,000 USDT Prize PoolAny user who trades at least 20,000 USDT in Block Trading during the event period will get a chance to win up to 100 USDT from the prize pool.Block Merchants Exclusive: 4,000 USDT Prize PoolThe first 20 block merchants to complete at least 50,000 USDT in Block Trading transactions (side orders only) during the event period will earn a 200 USDT bonus. Bybit strives to facilitate the trading needs of crypto enthusiasts of varying risk appetites, find out more about the entry requirements for Bybit P2P Block Trading.#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: [email protected] 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 [email protected] article was originally published on Chainwire More

Major meme token Dogecoin also retreated on Wednesday after a stellar run-up to three-year highs in recent sessions, as traders locked-in profits after Trump confirmed Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE).Bitcoin shot up to record highs of nearly $90,000 this week, as crypto saw a week-long rally after Trump’s election victory. But focus was now on just what his policies will entail for crypto, as well as the broader U.S. economic outlook.The world’s largest cryptocurrency fell 1.2% to $87,366.3 by 00:31 ET (05:31 GMT). Bitcoin retreated from record highs as enthusiasm over Trump’s election win now appeared to be cooling, with focus turning to more cues on his planned policies, as well as upcoming economic data.Trump has vowed to make America the crypto capital of the world, and has even floated the idea of a national Bitcoin reserve. Crypto proponents expect this to result in a friendlier regulatory environment, lending Bitcoin more credibility as an investment vehicle. On the economic front, Trump is widely expected to dole out more expansionary policies, which could potentially underpin inflation and interest rates in the long term. Consumer price index inflation data is due later on Wednesday and is widely expected to show inflation remained sticky in October- a trend that bodes poorly for expectations of lower interest rates.Dogecoin fell 8.3% to $0.355270 after surging nearly 100% since Trump’s election victory. The token had initially risen sharply after Trump’s announcement on DOGE, but sharply pared gains. The token was hit with profit-taking after Trump confirmed that Musk and Ramaswamy will lead the DOGE agency. Trump said the agency will work outside the government and will aim to reduce bureaucracy, “unnecessary regulations” and curb government spending. The idea of DOGE was floated by Musk prior to the election and is seen as a reference to the meme token, although whether this will result in any actual, official use of the token remains unclear. Musk has been a proponent of the token on social media, which is largely tied to its price action.Broader crypto prices fell tracking a pullback in Bitcoin. World no.2 crypto Ether fell 5% to $3,163.50, after hitting an over three-month high this week. ADA, SOL, XRP and MATIC sank between 4.7% and 11.5%. More

XRP’s hesitation is unusual in light of current market conditions, which are seeing rallies on even smaller speculative assets. Even though XRP had a lot of momentum in early November, the price chart indicates that the token seems to have run into resistance close to $0.60.If more buying pressure does not build up for XRP, this level might indicate a potential reversal point. The recent rally may be coming to an end as technical indicators like the Relative Strength Index (RSI) indicate that XRP is getting close to overbought levels. Bitcoin’s current dominance on the market and its effect on other cryptocurrencies may make XRP’s performance appear to be lagging. Leading altcoins like XRP usually follow suit during a bull market, when Bitcoin gains significant traction. However, the lackluster response to XRP might indicate that either the market is still cautious or that big holders (whales) are profiting. The fact that the 50 and 200-day moving averages are below the current price indicates that there is substantial underlying support for XRP in the $0.54 to $0.55 range. This area might serve as a backup level in the event that the current rally falters. XRP may be able to avert a more severe correction and have an opportunity to rise with Bitcoin’s ongoing ascent if it can maintain above this range and establish support.A strong foundation for future gains has been laid by the breakout from the prior consolidation phase and the surge above $80,000. With its 2023 update, the Bitcoin Rainbow Chart suggests that holding BTC is still prudent and that there may be more space for this rally to continue on. The red band on this chart, which has historically been used as a sentiment indicator, denotes a probable top and possible overvaluation. Since Bitcoin is still below this red zone, there is confidence that the current price level may hold for some time, with upside potential still present. According to another reliable Bitcoin indicator, the Two-Year MA Multiplier, a price peak of about $200,000, might be possible.The last leg of the bull market may be indicated by Bitcoin moving toward the red line in this model, which generally corresponds with market peaks in prior cycles. Even though it is speculative to forecast precise percentages, the current trend and robust technical indicators give Bitcoin a decent chance of reaching $200,000, possibly between 40 and 50%, provided that institutional interest, macroeconomic factors and favorable market conditions continue. Investors should exercise caution though, as volatility can quickly change the course of events. In particular, there have been 74,885 new wallets added, indicating high retail interest. Growing retail confidence in DOGE, a crucial component in maintaining its upward momentum, is indicated by this inflow of smaller holders. However, the so-called sharks and whales who are larger investors have decreased their holdings in the last month, and there has been a net decrease of 350 wallets. In spite of this, 108 whale wallets returned to the market in recent days, which might have contributed to the rally that saw DOGE reach $0.40, a level it has not touched in more than three years. Dogecoin has clearly entered a strong bullish phase, according to an analysis of its price chart. The price has soared, hitting heights that remind one of its earlier highs at the beginning of 2021.This article was originally published on U.Today More

In his tweet, Changpeng Zhao shared a link to the “Database of notable Bitcoin skeptics” called “Bitcoin is dead”.“If you believed any of these guys, then … blame yourself,” the former Binance boss tweeted.Founder of CryptoQuant Ki Young Ju reminded CZ of his earlier tweet in the comments – in 2019, CZ tweeted: “Slap yourself, if you sold $BTC under $10,000.”On Saturday, CZ also commented the BTC high reached on that day, which was $77,252. Back then, Zhao issued a warning that investors and hodlers should “control their greed.” He said that in the near future BTC is likely to demonstrate multiple new highs and setbacks, advising the community to “apply proper risk management.”It is important to be able to handle those future highs and lows. “Don’t put all your eggs in one basket,” he said.CZ and several other Binance executives received the transferred money as part of the repurchase deal with SMF in July 2021. That $1.8 billion transfer was obtained for selling roughly 20% of FTX’s international platform and 18.4% of FTX’s US-based branch. SBF paid for those stocks in a mix of FTT, BNB, and BUSD tokens. Since the filing claims that at that time FTX and its trading company Alameda Research were insolvent, the repurchase was fraudulent. Besides, FTX accuses CZ of posting misleading tweets about FTX before the latter collapsed in November 2022.This article was originally published on U.Today More

This article was originally published on U.Today More

Bitcoin’s price has surged since the election, gaining over 29% in the last week, hitting new all-time highs and coming close to breaking the $90,000 level. Analysts and investors see Trump’s win as a potential tailwind for the crypto market. As the crypto market continues to react to the latest political development, Investing.com’s poll asks:Can Bitcoin reach $100,000 by the end of 2025? More

According to blockchain data tracker Whale Alert, “a dormant address containing 67 BTC worth $5,525,168 has just been activated after 11.0 years worth $21,050 in 2013.”The 67 BTC at the time of reactivation is now valued at nearly $5,525,168, a 26,147% increase from its worth of $21,050 back in 2013.The identity of the owner remains unknown, but the timing and magnitude of this activation have sparked speculation about the intentions behind it.Some speculate it could be an early investor cashing in on their gains, while others wonder if it signals a broader trend of long-term holders beginning to move their assets, as seen in several reactivations in recent weeks.Bitcoin, the first and largest cryptocurrency by market capitalization, continues its continuous upward trend, crossing $89,000 for the first time in Tuesday’s trading. Bitcoin has increased by more than 30% since last week, establishing new highs virtually daily.Bitcoin has already more than doubled in 2024, thanks to strong demand for dedicated U.S. exchange-traded funds and a Federal Reserve interest rate reduction.According to Bloomberg, Bitcoin options traders are already targeting a milestone price of $100,000 for the original cryptocurrency. Investors are placing bets that Bitcoin will reach the milestone by the end of the year, according to statistics from crypto options exchange Deribit.As of Monday morning, there were 9,635 Bitcoin — worth around $780 million — in open interest bets on Bitcoin reaching $100,000 by Dec. 27, according to Deribit data. That is the most at stake for any trade with that expiration date. Deribit estimates that the trade has an 18.6% chance of paying off.This article was originally published on U.Today More