[ad_1] A crypto analyst known for making timely Bitcoin calls believes BTC is due for a final corrective move before an explosion to fresh record highs. Pseudonymous analyst Bluntz tells his 261,200 followers on the social media platform X that Bitcoin appears to be forming a bull pennant pattern on the three-day chart. According to the analyst, BTC may see a leg down close to $60,000 to set the stage for a rally above $80,000. “For now, I’m leaning towards some high time frame BTC consolidation. Makes the most sense to me, but what’s more concerning is alts are crushed…
Author: dfrancis36
[ad_1] In his latest blog post titled “Why I’m Still Betting on Bitcoin,” financial expert and seasoned investor Bill Miller IV, CFA, CMT, Chairman and CIO of Miller Value Partners, reiterated his bullish stance on Bitcoin. According to Miller, who is the Chairman, CIO of Miller Value Partners and son of legendary investor Bill Miller III, Bitcoin remains in the early stages of a secular transition in global capital and governance perspectives. Bitcoin: It’s Still Early Miller’s analysis begins with a reflection on a thesis he first introduced in 2015 in his paper, “A Value Investor’s Case for…Bitcoin?!”. He argued…
[ad_1] In a notable gathering at Mar-a-Lago on Tuesday (June 11) night, former President Donald Trump met with key figures in the Bitcoin mining industry, affirming his support for the sector and pledging to advocate for its interests both domestically and internationally. Trump expressed a deep appreciation for the role of miners in stabilizing the national energy grid and underscored his readiness to support their efforts from the White House. Following the meeting, the Trump campaign posted via Truth Social, “VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only…
[ad_1] Ethereum price failed to recover above the $3,650 resistance. ETH declined again below the $3,550 level and now shows bearish signs below $3,600. Ethereum started a fresh decline below the $3,550 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,650 resistance zone. Ethereum Price Takes Hit Ethereum price attempted a recovery wave but there was no bullish momentum. ETH failed to…
[ad_1] On-chain data suggests Bitcoin is no longer being used as electronic cash by its userbase as the token’s circulation has seen a steep drop. Bitcoin ‘Velocity’ Has Plunged To Historical Lows Recently As explained by CryptoQuant founder and CEO Ki Young Ju in a post on X, Bitcoin’s circulation has recently slowed down. The on-chain indicator of relevance here is “Velocity,” which keeps track of the rate at which the cryptocurrency’s tokens are circulating in the market. When the value of this metric is high, the coins move around faster on the network. On the other hand, a low…
[ad_1] Solana extended losses below the $150 support zone. SOL price is consolidating and might recover if it clears the $152.50 resistance zone. SOL price declined further and even traded below $150 against the US Dollar. The price is now trading below $160 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $150 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $152.50 resistance to start a short-term recovery wave. Solana Price Eyes Recovery Solana price remained in a short-term bearish zone like Bitcoin…
[ad_1] Bitcoin (BTC) futures are experiencing a surge in net short interest among leveraged funds, although this should not be mistaken for a bearish sentiment among hedge funds. Instead, experts suggest that the increase in short interest is primarily driven by the growing popularity of a market-neutral strategy known as the basis trade. Spot Bitcoin ETFs Fuel Adoption Of Basis Trade Strategy? The basis trade strategy aims to capitalize on discrepancies between spot and futures markets, and it is believed to account for a significant portion of the short interest observed in nearly 18,000 Chicago Mercantile Exchange (CME) Bitcoin futures…
[ad_1] XRP price extended losses and traded below the $0.50 zone. The price tested the $0.4700 zone and is currently attempting a short-term recovery wave. XRP is slowly moving higher from the $0.470 support. The price is now trading below $0.4850 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.480 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could recover, but the bears might be active near the $0.4880 resistance. XRP Price Finds Support XRP price failed to recover above the $0.4880 resistance…
[ad_1] The Australian government has cracked down on online gambling by banning crypto and credit card use for online bets. The measure comes as an effort to reduce investors’ losses in the country. Australian Gov’t Bans Use Of Crypto In Online Gambling On Monday, The Canberra Times reported that Australians are prohibited from using cryptocurrencies and credit cards to engage in online gambling. The ban, announced in January, was set to be enacted today. The Australian government offered a six-month transition period for gambling companies, allowing them to make the necessary changes and alert users of the soon-to-be-enacted ban. According…
[ad_1] Bitcoin price extended losses below $67,500 support zone. BTC tested the $66,000 support zone and is now attempting a recovery wave. Bitcoin started another decline below the $68,500 support zone. The price is trading below $68,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $68,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but the upsides might be limited above the $68,500 level. Bitcoin Price Dives Bitcoin price failed to start another increase above the $68,500 resistance zone. BTC reacted to…