That said, RSI is not the holy grail. Markets often maintain a strong upward trajectory for days and weeks, keeping the RSI above 70 for a prolonged time. As Newton’s law says, “An object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.” Original
Galaxy Digital CEO Michael Novogratz says he wouldn’t be surprised to see some corrections and consolidation in the crypto market before taking off to the new high. In a recent interview with Bloomberg, Galaxy Digital CEO Michael Novogratz highlighted the need for vigilance when dealing with Bitcoin (BTC) at present, indicating a possibility of short-term shifts in its trajectory. Expressing his concerns on the matter, Novogratz said he “wouldn’t be surprised to see some corrections and some consolidation.” “If it [Bitcoin] corrects, it might correct to the mid-$50,000s, before taking…
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Do Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting a massive fraudulent crypto scheme. Last year, the SEC charged that from April 2018 to May 2022, Terraform and Kwon’s operations resulted in at least […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Leonidas, the pseudonymous founder of Ord.io, an ordinals explorer, has reported one of the biggest sales of inscriptions, the so-called Bitcoin native non-fungible tokens (NFTs), to date. Leonidas stated that the second inscription on the Bitcoin blockchain had been sold for 24.48 BTC (over $1.1 million), predicting that more sales will beat this record in […] Original
Cardano (ADA) is gaining pace above the $0.635 resistance zone. ADA is consolidating gains and might aim for more upsides above the $0.70 resistance. ADA price is holding gains and facing resistance near the $0.70 zone. The price is trading above $0.640 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $0.6350 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could attempt a fresh increase if the bulls remain active above the $0.6220 support.…
Whether it even needs to bother is another question. Bloomberg analyst James Seyffart noted Thursday that one of Vanguard’s ETFs, VOO, which tracks the S&P 500 Index, has attracted $15.7 billion in net new money so far this year, double what BlackRock’s spot bitcoin ETF, IBIT, has collected. Source CryptoX Portal
Binance has recovered billions in bungled deposits following its $4.3 billion settlement with the U.S. Department of Justice. Crypto exchange Binance reported over $4 billion of rescued customer deposits initiated within the last two years as the company looks to improve its operations under new leadership amid a bull cycle. The report found 381,616 cases of crypto tokens deposited to the wrong address between 2022 and 2023, with virtual currencies stuck due to project upgrades and sometimes because of incompatible assets. Binance Chief Security Officer Jimmy Su said similar cases…
Gold advocate and vocal bitcoin critic Peter Schiff has warned of a bubble in bitcoin exchange-traded funds (ETFs) that will burst when gold rallies. Schiff argues that gold will “inevitably” break out, and the price of bitcoin will crash as investors withdraw from bitcoin ETFs. “Bitcoin has basically become a bet against gold,” he stressed. […] Original
Bitcoin price is correcting gains from the $64,000 resistance. BTC might find strong support near the $59,250 level or the 100 hourly SMA. Bitcoin price is correcting gains below the $62,250 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower toward $60,000 or even to the 100 hourly Simple moving average. Bitcoin Price…