Day: January 23, 2024

Analysts hint to short-term panic orders amid Bitcoin’s drop

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For the first time since the beginning of the year, Bitcoin (BTC) fell below the $40,000 level, leading to panic in the market. Analysts at the Greeks.live service noted that the fall of BTC below $40,000 on the night of Jan. 22-23 led to a certain number of short-term panic orders on the market, and the bearish strength of the market has increased. However, overall, long and short positions are relatively balanced, and it is still a “fierce game.” Bitcoin fell below the $40,000 as short-term IVs recovered. Overall VRP(volatility…

Founder of Bitcoin alternative calls out Satoshi for holding 1m coins

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. There are ongoing debates and discussions within the cryptocurrency community regarding the strengths and weaknesses of various digital assets, including Bitcoin and its founder. Recently, the creator of a new alternative crypto said Satoshi Nakamoto’s large holdings of Bitcoin could potentially contradict the principle of decentralization. Mollars founder believes creators should not take free tokens The creator of a new, decentralized, store-of-value token named “Mollars” has held no punches…

Bitcoin (BTC) Prices More Impacted by ETF, GBTC Outflow, Rather Than China Stimulus Plan: Analysts

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“The rebound of the Chinese economy will have profound implications for the global economy, and any stimulus or accommodative policy will be an encouraging sign to investors. The crypto market will also perceive such policies as risk-on and, therefore, be more willing to innovate and active in market expansion,” said Greta Yuan, Head of Research at VDX, a regulated exchange in Hong Kong, in a note. Original

XRP Price Topside Bias Vulnerable If It Continues To Struggle Below $0.60

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XRP price is consolidating above the $0.520 support. The price could gain bearish momentum unless there is a close above $0.550 and $0.570. XRP is showing bearish signs below the $0.550 and $0.570 resistance levels. The price is now trading below $0.5420 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.540 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair start a fresh increase if it clears the $0.540 and $0.550 resistance levels. XRP…

Ethereum Price Reaches Support, Can ETH Start A Steady Increase Again?

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Ethereum price extended losses and tested the $2,300 support. ETH is now attempting a recovery wave above the $2,340 level and might test $2,390. Ethereum started a fresh decline below the $2,420 and $2,400 levels. The price is trading below $2,400 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance near $2,340 on the hourly chart of ETH/USD (data feed via Kraken). The pair attempt a fresh increase if it clears the $2,390 and $2,400 levels. Ethereum Price Revisits $2,300 Ethereum…

Pastor Accused Of Defrauding Congregation With $3 Million Crypto Ponzi Scheme

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Denver-based internet pastor, Eli Regalado, is at the center of a controversy surrounding an alleged crypto Ponzi scheme involving INDX coin.  The self-proclaimed spiritual leader has come under scrutiny as Colorado’s securities regulator investigates his deceptive practices, which reportedly resulted in over $3 million in ill-gotten gains. Fortune magazine report shed light on the matter, exposing Regalado’s questionable actions and shedding light on the plight of the victims involved. Pastor Regalado’s Deceptive Crypto Venture According to Colorado’s securities regulator, Regalado, and his wife orchestrated a “small-scale swindle”, targeting hundreds of individuals…

Abra to Open Withdrawals After Settling with Texas Regulators

The agreement, if honored, will dismiss a rash of enforcement actions over Abra’s offering of its Earn and Boost investment products at a time when it was nearly – if not completely – insolvent, according to the TSC. The TSC alleged the products were securities, meaning the registration of both products falls under the agency’s purview. Source

Bitcoin Price Dives Below $40K, Can Bulls Save The Day?

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Bitcoin price extended its decline below the $40,000 support zone. BTC is consolidating losses and remains at risk of more downsides below $38,500. Bitcoin price is gaining bearish momentum below the $40,500 zone. The price is trading below $40,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $40,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct above $40,000 but the bears could remain active near $40,500. Bitcoin Price Takes Hit Bitcoin price…

Analyst Warns Of Steep Drop To $2,000

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Since Ethereum (ETH) peaked at $2,717 in the last two weeks, the asset has experienced a gradual decline, culminating in its arrival at a key demand zone, which could be instrumental in determining its imminent price trajectory, according to a prominent crypto analyst. Critical Support Zone Flags Continuous Bearish Move Renowned crypto analyst Ali has pinpointed a critical demand zone for ETH, ranging between $2,388 and $2,460. The resilience of this support level could pave the way for an upward trajectory, offering Ethereum a much-needed respite from bearish pressures. However,…

Ethereum Futures Market Cool Off Sets Stage For ETH To Rally: Quant

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An analyst has explained that the latest cooldown in the Ethereum futures market could suggest there is potential for a price rise to resume for ETH. Ethereum Funding Rates Have Seen A Decline Recently An analyst in a CryptoQuant Quicktake post explained that the ETH funding rates have seen a cooldown from their previously overheated levels. The “funding rate” refers to the periodic fees that futures contract holders on derivative platforms currently exchange with each other. When the value of this metric is positive, it means that the long contract…