Day: February 28, 2024

Momentum Reignites As Bulls Aim For $0.75

XRP price is gaining pace above the $0.550 resistance. The bulls seem to be aiming for a move above the $0.60 and $0.62 resistance levels. XRP started a fresh increase above the $0.550 resistance level. The price is now trading above $0.575 and the 100 simple moving average (4 hours). There was a break above a major contracting triangle with resistance at $0.560 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh rally if there is a close above the $0.60…

Cardano (ADA) Among Only Coins Seeing Loss-Taking: What It Means

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Cardano (ADA) is among the few cryptocurrencies that are still observing loss-taking being the dominant behavior among investors. Bitcoin & Ethereum See Profit-Taking, While Cardano Is Seeing Capitulation According to data from the on-chain analytics firm Santiment, Bitcoin (BTC) and Ethereum (ETH) have both been seeing the investors majorly selling at profits, while Cardano has seen the loss-taking outweigh the profit-taking. The indicator of interest here is the “Ratio of Daily On-Chain Transaction Volume in Profit to Loss,” which, as its name already suggests, tells us about how the loss-taking…

Ethereum Price Primed To Hit $3.5K After Bitcoin Rallies Past $60K

Ethereum price climbed to a new multi-month high above $3,300. ETH is consolidating while Bitcoin is gaining pace above the $60,000 resistance. Ethereum extended its increase above the $3,300 resistance zone. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its increase toward $3,420 or even $3,500 in the near term. Ethereum Price Underperforms Bitcoin Ethereum price started another steady increase…

BREAKING: Bitcoin Price Smashes Above $60,000: Are New ATHs Ahead?

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Bitcoin price action continues to pick up steam following unprecedented institutional demand amidst an asset supply that’s on the brink of being slashed by 50%. Today, the BTCUSD trading pair has broken cleanly above $60,000. What does this mean for the top cryptocurrency by market cap? Are new all-time highs just ahead? Bitcoin Trades Above $60,000 For First Time Since 2021 Just one month ago, Bitcoin was still stuck below $50,000 and the launch of the first ever US spot BTC ETFs were considered a sell the news event. Now,…

Bitcoin hits $60k for first time since November 2021

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The price of Bitcoin crossed the $60,000 mark for the first time since Nov. 21, 2021. According to CoinMarketCap data, Bitcoin (BTC) is trading at $60,250 at the time of writing. For a moment, the price rose to around $60,500. Bitcoin increased by about 6% in a day and by more than 18% in a week. Source: CoinMarketCap Against the background of the growth of the Bitcoin rate, the asset dominance indicator increased to 54.4%, and the volume of liquidations on futures contracts in the crypto-asset market rose to more…

Bitcoin ETF approvals spark mass BTC adoption, experts say

Crypto industry experts examined how approving a Bitcoin (BTC) ETF in the U.S. accelerates institutional investment in cryptocurrencies and mass adoption of BTC. According to crypto.news reporter, at the Qatar Web Summit on Feb. 28, experts agreed that ETFs open Bitcoin to a new class of professional investors by providing regulated investment vehicles. The discussion was held between Animoca Brands CEO Robby Yung, Dfinity Foundation founder Dominic Williams, and Delta Blockchain Fund founder Kavita Gupta. Additionally, experts expressed optimism that institutional interest in Bitcoin through ETFs is accelerating mainstream technology…

XRP To Become World Reserve Bridge Currency

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Oliver Michel, CEO of Tokentus Investment AG, has made a bold assertion in the latest episode of Crypto Talk – a series produced for German television in collaboration with Der Aktionaer, regarding the future role of Ripple and XRP. Michel, leading one of Germany’s prominent venture capital firms, provided a deep dive into the operational excellence of Ripple Labs and the transformative potential of XRP within the financial sector. Ripple IPO And XRP Price Expectations Michel praised Ripple Labs for its professional management and strategic direction, aiming for a major…