Day: December 19, 2023

Ethereum Price Restarts Increase But Can Bulls Turn It Into Rally?

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Ethereum price is recovering losses from the $2,120 support. ETH is up over 3% and the price could gain pace if it clears the $2,250 resistance. Ethereum is moving higher from the $2,120 support zone. The price is trading above $2,200 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $2,210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could climb further higher if it clears the $2,250 resistance zone. Ethereum Price Restarts Increase Ethereum price…

Crypto investment products saw outflows, ending an 11-week run of inflows

Last week, investment products saw minor outflows totaling $16 million. Last week’s outflows capped 11 weeks of inflows, according to a CoinShares report. At the same time, trading activity remained well above the annual average, totaling $3.6 billion for the week, compared with the year-to-date average of $1.6 billion. Source: CoinShares Regionally, the main withdrawal of funds came from the United States with $18 million. In Germany, $10 million was withdrawn. Numbers partially offset by an influx to Canada and Switzerland in the amounts of $6.9 million and $9.1 million…

Spanish Police Crack Down On Crypto-Based ISIS Funding Operation

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Spanish police successfully dismantled a network involved in financing ISIS through crypto transactions, resulting in the arrest of five individuals over the weekend. The operation, part of a two-and-a-half-year investigation, targeted individuals allegedly connected to the terrorist organization known as DAESH or ISIS.  The arrests were made in Valencia (2), Cáceres, Alicante, and Guipúzcoa. Four of the suspects have been remanded in custody by court order. Global Network Financing ISIS Via Crypto? According to the official statement of the Spanish national police, the operation marks the second phase of “MIYA,”…

Helium Mobile’s 90% price increase in 24 hours caps altcoin surge

Helium Mobile (MOBILE) is spearheading a dynamic shift in the crypto market towards smaller-cap altcoins, with its price surging by 90% in the last 24 hours to $0.0072. The altcoin’s surge is mirrored in its trading volume, which has escalated by 243%, reaching $19.8 million. MOBILE price chart | Source: CoinMarketCap The driving force behind Helium Mobile’s rapid price increase is attributed to the recent launch of its nationwide unlimited mobile services, priced competitively at $20 per month. This strategic move has led to the mobile virtual network operator (MVNO)…

Rising Liquidity Will Push Bitcoin To Over $200,000 In Less Than 5 Months: What It Means

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According to Dan Tapiero, Managing Partner at 10T Holdings, the Bitcoin and crypto market is on the verge of a major transformation, with the world’s most valuable coin likely to soar to over $200,000 by May 2024. Citing data by Raoul Paul, the CEO of Real Vision, Tapiero suggests that traditional money managers must take notice and prepare for a paradigm shift in the financial landscape. GMI Bitcoin liquidity index | Source: Dan Tapiero on X Bitcoin Could Rally To Over $200,000 In 2024 On Rising Liquidity   Tapiero bases this bullish…

SEC delays several Ethereum ETFs, pushing final decision to May

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The United States Securities and Exchange Commission is pushing back its decision on several Ether (ETH) exchange-traded funds (ETFs) to May 2024. In several Dec. 18 regulatory filings, the agency delayed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF aims to hold both spot Ether and futures contracts, while Grayscale’s Ethereum Futures ETF is seen as a “trojan horse” that would corner the SEC into allowing Grayscale to convert its Ethereum Trust to a spot Ethereum ETF. In the filings, the…

Bitcoin Faces $33M Exodus As Altcoins Shine

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The crypto investment landscape has experienced a notable shift recently, as digital asset investment products saw their first net outflows in 11 weeks. This development was predominantly led by Bitcoin, which had previously enjoyed a consistent inflow into various crypto funds. In a recent report by CoinShares, a leading digital asset management firm, last week marked a break in an 11-week streak of inflows, with a net outflow of $16 million. This change signals a potential reevaluation among investors regarding their positions in digital assets. Bitcoin Funds Encounter Turbulence Bitcoin-based…

OKX NFT marketplace overtakes OpenSea and Blur in trading volume

The daily trading volume of the OKX non-fungible tokens (NFT) marketplace has surpassed market leaders Blur and Magic Eden. On Dec. 18, the trading platform’s indicator was $45.31 million putting it in front of Blur, Magic Eden, UnitSat and OpenSea in terms of trading volume. Source: DappRadar The growth of the OKX platform is due to an increase in the trading volume of Bitcoin (BTC) NFTs. On Dec. 15, the crypto exchange listed SATS, a BRC-20 standard token, an asset that competitors like OpenSea and Blur do not yet support. Blur…

Here’s What Could Trigger It

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Data shows Bitcoin is losing a major region of on-chain support with its latest plunge. Here’s the range where the next zone lies for the asset. Bitcoin Has Slipped Under $41,200 To $42,400 Support Region As explained by analyst Ali in a post on X, BTC has slipped under a key on-chain support zone today. An “on-chain support” range refers to a price below the current spot price of the cryptocurrency that hosts the cost basis of many investors. For any holder, the cost basis, the price at which they bought…