Day: January 12, 2024

Litecoin About To Explode And Outperform Bitcoin? Analyst Is Super Bullish

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Litecoin, a cryptocurrency often referred to as the “silver to Bitcoin’s gold,” is gaining traction among analysts who predict its potential to outperform Bitcoin shortly.  Tony “the Bull,” a certified chartist and the Head of Research at NewsBTC, took to X on January 12, laying out a bullish outlook for the 18th most valuable cryptocurrency. Citing its monthly candlestick formations, the analyst said what’s panning out are signs of an imminent breakout that could propel the coin higher in the coming weeks. Litecoin About To Rip Higher? Specifically, Tony “The Bull”…

Surges Then Faces Sudden Dip As Options Expiry Looms

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According to Crypto trader Mags, Bitcoin, the flagship cryptocurrency, has recently demonstrated a notable +55% surge, breaking out from a smaller broadening wedge pattern. Mags shared insights on this significant price movement, observing Bitcoin’s breakout and suggesting a mid-term target at the “upper trendline resistance of a larger broadening wedge.” This surge notably results from several catalysts in play, such as the surging interest of institutional investors and the US approval of spot Bitcoin Exchange-Traded Funds (ETFs). Upcoming Options Expiry Impact’s Bitcoin Price However, Bitcoin has seen a slight downturn…

Analyst says nothing bearish on Bitcoin charts

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More Crypto Online, a YouTube cryptocurrency analyst, highlights that the current five-wave trend on the Bitcoin chart could open the door to an even larger trend. In the Jan. 12 video, the analyst suggests if micro support breaks on the Bitcoin (BTC) daily chart, the market can expect a wave four, triggering a larger wave five, assuming the market doesn’t pull back below $35,000. If so, the next wave four will be substantially larger than the wave four from the previous month, resulting in a bullish outcome.  More Crypto Online…

BNB’s Liquidity Fell In Q4 2023, Bitcoin, XRP, And Dogecoin Lead

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Amidst regulatory scrutiny and leadership changes, Binance Coin (BNB) lost its footing in the liquidity race, slipping to 13th place in Q4 2023, according to Kaiko data on January 11. This surprising development contrasts BNB’s position as the third-largest cryptocurrency by market capitalization, raising questions about its general liquidity. Dogecoin Flips BNB In Liquidity Rankings Kaiko’s findings, based on spot trading data from multiple exchanges, revealed that Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE) emerged as the top four most liquid cryptocurrencies in Q4 2023.  Q4 2023 token liquidity rankings |…

Retail Trading Giant Robinhood Lists Newly Approved Spot Bitcoin (BTC) Exchange-Traded Funds

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Retail trading giant Robinhood has listed the newly approved spot Bitcoin (BTC) exchange-traded funds (ETFs). The 11 greenlit BTC ETFs became available to the company’s customers on Thursday morning in both retirement and brokerage accounts through Robinhood Financial, according to a new press release. Robinhood chief executive Vlad Tenev says the new Bitcoin financial products help integrate crypto and traditional finance. “It not only offers clarity but also opens avenues for sophisticated risk management tools that benefit our customers in managing their digital asset investments.  Our ethos is ‘participation is…

What Other Crypto Firms Could Go Public This Year

Working against Kraken is a lawsuit brought last year by the SEC, the agency that will have to approve its public listing. It’s worth noting several other exchanges and brokerages, including Israel-based eToro and CoinDesk’s parent company Bullish, explored going public but were blocked by the SEC. Bitpanda, in the E.U., and Bitso, in Mexico, should also be watched, if expanding the conversation beyond U.S. markets. Source

Analyst Predicts 100% Rise Against Bitcoin

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Crypto analyst Michaël Van De Poppe recently made a bullish prediction for the Ethereum price against Bitcoin in the near future, noting the path for this to happen. According to a social media post by the analyst, price action on the ETH/BTC pair for the next months will center around spot Bitcoin ETFs, with a rotation into ETH also in the prediction. Analyst’s Prediction of 100% Ethereum Price Rise Against Bitcoin Michaël Van De Poppe recently took to X to share a chart of Ethereum’s price performance against Bitcoin (ETH/BTC…

Grayscale moves $183m in BTC amid ETF fee competition

Grayscale Bitcoin Trust transferred approximately 4,000 BTC, valued at $183 million, to Coinbase Prime deposit addresses.  This was revealed from the latest data of Arkham Intelligence. Grayscale’s spot Bitcoin ETF, known for its comparatively high fee structure at 1.5%, may be witnessing a shift as investors explore options in response to the SEC’s recent approval of several spot Bitcoin ETFs. Other ETFs, managed by companies like BlackRock, VanEck, ARK 21Shares, and Bitwise, offer more competitive fees, ranging from as low as 0.2% to 1.5%, with some even introducing introductory waivers​​​​.…

Bitcoin Erases $49,000 ETF Rally As Coinbase Users Take To Selling

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Bitcoin had earlier shown a sharp rally toward the $49,000 mark, but the asset was quick to retrace the entire surge as the Coinbase Premium turned negative. Bitcoin Coinbase Premium Gap Plunged Into Negative During Past Day As pointed out by CryptoQuant Netherlands community manager Maartunn in a post on X, the Coinbase Premium Gap has now turned notably negative after being mostly positive for the last few days. The “Coinbase Premium Gap” refers to the difference between the Bitcoin prices listed on the cryptocurrency exchanges Coinbase (USD pair) and…