[ad_1] The once-sizzling crypto market continues to sputter, with Bitcoin, the undisputed king of the digital realm, leading the retreat. After a euphoric climb that saw it breach the $73,000 level earlier this year, Bitcoin has shed its royal cloak, plummeting to new lows and dragging the entire crypto ecosystem into a period of frosty uncertainty. Related Reading Exodus From The Empire: Investors Pull Billions The past weeks have been marked by a mass exodus from Bitcoin. Investors, spooked by the prolonged price slump, have been fleeing the flagship cryptocurrency in droves. A recent report by CoinShares paints a bleak…
Author: dfrancis36
[ad_1] Data shows the sentiment among the Bitcoin investors has exited the greed territory following the latest crash in the asset below $61,000. Bitcoin Fear & Greed Index Is Now Sitting Inside The Neutral Region The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment that the traders in the Bitcoin and wider cryptocurrency market share right now. This index considers the data of five factors to determine this sentiment: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends. To represent the sentiment, the indicator uses a scale that…
[ad_1] Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments…
[ad_1] Dogecoin is down by 6.87% in the past 24 hours after a brief cooldown in bearishness. However, the downturn has given Dogecoin a hint of bullish reversal as it has entered a historically prominent buy zone. Interestingly, this is suggested by the MVRV ratio, which currently hints at a very bullish short-term bounce for DOGE. DOGE’s 30-day MVRV clocking in at -13%, the king of meme coins looks attractively priced for traders eyeing a fresh entry. This is because historically, ratios around this range have preceded rallies and served as the best buying zones. Dogecoin Price Enters Opportunity Zone…
[ad_1] Anthony Scaramucci, the founder of SkyBridge Capital, has predicted that Bitcoin could reach new all-time highs (ATH) when his preferred presidential candidate wins. He also claimed that crypto “has already won” following recent developments in the industry. Bitcoin Could Rise To As High As $250,000 When Joe Biden Wins Scaramucci mentioned during an interview on Unchained that he believes that the market will witness a new ATH for Bitcoin during a second Biden administration if the incumbent US President wins his reelection bid. As to how high Bitcoin can rise, Scaramucci predicts that the flagship crypto will rise to…
[ad_1] South Korea appears to have found itself at a crossroads, engaging with the potential impacts of introducing spot crypto exchange-traded funds (ETFs) into its financial ecosystem. The Korea Institute of Finance (KIF) recently released a report voicing significant concerns over these financial products. What did they say about ETFs? Crypto ETFs Could Create Side Effects For South Korea According to the report, while spot crypto ETFs are gaining traction internationally, their integration into South Korea’s economy might result in adverse effects rather than benefits. The primary apprehensions center around the potential for these funds to siphon off significant capital…
[ad_1] The Bitcoin price has experienced a significant correction after failing to consolidate above the $70,000 level and retesting its all-time high of $73,700, which it reached in March. With a retracement of nearly 10% over the past week, BTC is now trading just above support at the $60,000 level. However, based on historical data, further price drops may be expected in the coming days, aligning with patterns observed before explosive bull runs. Bitcoin Price Analysis Crypto analyst Rekt Capital has compiled data showing the depth and length of retracements during previous market cycles. Historical patterns show retracements of approximately…
[ad_1] Japanese Institutional Crypto Investment Trends Japan’s largest investment bank, Nomura Holdings (TYO:8604), and its crypto subsidiary, Laser Digital, released findings from a recent survey on Monday. The survey targeted over 500 investment managers in Japan, revealing that 54% plan to allocate funds to crypto assets within the next three years. Motivations and Barriers for Japanese Institutional Crypto Investment More than half of the respondents indicated a future interest in digital assets, motivated by recent developments such as the launch of crypto products like exchange-traded funds (ETFs), investment trusts, staking, and lending. These factors, along with the increasing mainstream adoption…
[ad_1] Based on on-chain data, the Head of Research at the analytics firm CryptoQuant has explained how Bitcoin has been looking less bullish recently. Bitcoin Bull-Bear Market Cycle Indicator Has Seen A Decline Recently In a new post on X, CryptoQuant Head of Research Julio Moreno shared what the latest trend in the Bitcoin Bull-Bear Market Cycle Indicator has been looking like. This indicator is based on another metric developed by the analytics firm: the P&L Index. The P&L Index is a valuation indicator for Bitcoin that may determine whether the coin’s price is undervalued or overvalued. This metric combines…
[ad_1] Over a quarter billion dollars worth of Chainlink (LINK), the leading blockchain oracle service, has been spotted headed to crypto exchanges. Analyst Ali Martinez says that within a 24-hour period on June 22nd, traders deposited millions of LINK to digital asset exchanges where they could be sold on the open market. “[In 24 hours], 18.77 million Chainlink (LINK), valued at approximately $256.20 million, were sent to cryptocurrency exchanges!” Source: Ali Martinez/X LINK has dropped since the tokens were sent to exchanges, currently trading at $13.03. Looking at Ethereum (ETH), Martinez reports that the top smart contract platform just experienced…