Month: January 2024

Analyst Predicts Cardano Future Using Historic Trends, And It’s Very Bullish

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A crypto analyst has provided insights into why this year will be “massive” for Cardano (ADA) based on historical data. The analyst also highlighted how patience was key, as ADA could replicate a similar run like the one it did when it saw a gain of 8,288% following about two years of consolidation.  2024 Could Be Another Breakout Year For Cardano In a recent video, the analyst behind the Crypto ZX YouTube channel alluded to ADA’s history as he provided a bullish narrative for the crypto token in this new…

Coinbase vs. SEC case said to ignite altcoin run

YouTube analyst Crypto Capital Venture argues that if the judge rules in favor of Coinbase against the SEC, it could ignite an altcoin run with up to 100% on assets like ADA. Crypto Capital Venture looks at some of the events leading up to the decision, including that only 22 days after the SEC allowed Coinbase to go public, Gary Gensler from the SEC testified that the exchanges trading these assets do not have the regulatory framework at the SEC or CFTC. At the same time, the judge overseeing the…

Chainlink (LINK) Vanishing From Exchanges As Amount of Non-Zero Wallets Nears All-Time Highs: Santiment

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Blockchain analytics platform Santiment is noticing two metrics flashing bullish signals for decentralized oracle provider Chainlink (LINK). Santiment says that the overall supply of Chainlink on crypto exchanges has slipped down to its lowest level since February 2020. The analytics firm also notes that the number of unique LINK addresses holding a positive (non-zero) amount of coins is closing in on an all-time high. “Chainlink enjoyed a mini breakout [last] weekend, hitting $15.82 for the first time in two weeks. The supply of LINK on exchanges is below 15% for…

Bybit: Bitcoin ETF Approval Marks Watershed Moment for Investors

Since the launch of the BTC ETFs last week, the industry has recorded a significant inflow of BTC products compared to other ETFs in the market. Cryptocurrency exchange Bybit said on Tuesday that the recent approval of the first spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States represents a “watershed moment” for retail investors. On January 10, 2024, the Securities and Exchange Commission (SEC) granted approval to 11 prominent financial companies, including Grayscale Investments, Ark Invest, and BlackRock, enabling them to introduce spot-BTC ETFs to their customers. This…

Here’s The Level To Watch

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On-chain data suggests Bitcoin has a large wall of resistance ahead of it currently. Here are the exact levels that make up this important range. A Large Amount Of Bitcoin Supply Was Purchased Between $42,700 & $44,000 According to data from the market intelligence platform IntoTheBlock, BTC is sitting just below a significant on-chain resistance zone. In on-chain analysis, the strength of any resistance or support level is defined based on the number of coins acquired by the investors there. To any holder, their cost basis is naturally an important…

Cantor CEO Makes Gold And Bitcoin ETFs Comparison, Foresees True Rally With Halving

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In a highly anticipated development, the United States Securities and Exchange Commission (SEC) granted regulatory approval for 11 spot Bitcoin ETFs, sparking excitement within the crypto community.  However, despite initial expectations of a significant price surge, the Bitcoin market has experienced an 8% price drop since the ETFs began trading. Bitcoin ETFs To Unfold Impact Over Time?  Drawing a comparison with the launch of the first Gold ETF, Cantor Fitzgerald Asset Management CEO, Howard Lutnick, noted that the immediate rush to buy the asset did not materialize. Lutnick remarks that…

Grayscale Bitcoin ETF sees $579m in daily net outflows

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According to reports from Bloomberg Intelligence, Grayscale’s Bitcoin ETF has experienced significant withdrawals, amounting to approximately $579 million.  The magnitude of this withdrawal is notable in the context of the broader market for Bitcoin ETFs. Contrastingly, other spot Bitcoin ETFs have attracted nearly $819 million in investments. This stark divergence in investor behavior underscores a critical assessment of the Grayscale Bitcoin ETF’s performance post-SEC approval. Initial enthusiasm, marked by a trading volume of over $2.3 billion on the ETF’s inaugural day, has cooled, with these outflows suggesting a shift in…