Day: December 11, 2023

Bitcoin wipes nearly a week of gains in 20 minutes, falling under $41K

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The price of Bitcoin (BTC) briefly fell below $41,000 following a sudden 6.5% drawdown from $43,357 to as low as $40,659 in just 20 minutes at 2:15am on Dec. 11 (UTC).  At the time of publication, Bitcoin was trading slightly up from the local low at $41,960 per TradingView data.  According to data from CoinGlass the brief drop caused more than $271 million worth of long positions to be liquidated.  Ether (ETH), the second-largest cryptocurrency by market cap, also witnessed an abrupt decline, falling more than 8.9% in the same…

Solana memecoin Bonk flips Pepe following 370% monthly gain

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A Solana-based dog-themed memecoin called Bonk (BONK) has now become the third-largest memecoin by market capitalization, surging past that of fellow memecoin Pepe (PEPE) on Dec. 8. Bonk’s recent price growth — 370% in the last month — has seen its market cap grow to $762 million, compared to Pepe’s current $675 million market cap, per CoinGecko data. In the past 30 days, BONK has grown from $0.0000028 to $0.000012 as traders rushed to capitalize on a new wave of interest in the Solana ecosystem. Bonk’s price has grown 370%…

Celeb NFTs and cringy ads — Analysts share their signs of a Bitcoin peak

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Celebrities hocking nonfungible tokens (NFTs), big-budget crypto ads, and mainstream brands adopting crypto slang — these are the signs to watch for during the next bull market that could indicate a peak, according to crypto analysts. The crypto industry is expected to see a major rally in 2024. In the past 90 days alone, Bitcoin (BTC) has surged to clock in a 74% price increase. Some analysts expect the next Bitcoin all-time high to come in late 2024.  But are there ways to indicate when the next bull market peak will…