Day: April 3, 2024

Ethereum Price Uptrend To Restart? These Could Be Hurdles To Watch

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Ethereum price extended its decline below the $3,320 support zone. ETH is now consolidating and might start a fresh increase if it clears $3,320. Ethereum remained in a bearish zone and traded below the $3,320 support zone. The price is trading below $3,400 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it settles above the $3,320 resistance zone. Ethereum Price Faces Resistance Ethereum…

Bitcoin Price Consolidates Losses But Recovery Could Face Hurdles

Bitcoin price extended its decline below the $65,000 support zone. BTC is now consolidating losses and might attempt a recovery wave toward $67,000. Bitcoin price declined further below the $65,500 and $65,000 levels. The price is trading below $67,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $67,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but the bears might remain active near $67,000. Bitcoin Price Drops Further Bitcoin price turned red…

What a Judge Said About the SEC’s Suit Against Coinbase

“The parties do not dispute that, to prevail on its claims, the SEC need only establish that at least one of these 13 Crypto-Assets is being offered and sold as a security, and that Coinbase has intermediated transactions relating therewith, such that transacting in that Crypto-Asset would amount to operating an unregistered exchange, broker or clearing agency,” the order said. Source

Expert Signals Key Catalyst That Could That Could Revive BTC’s Rally

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Renowned venture capitalist and Bitcoin advocate Anthony Pompliano has recently sparked discussions with his post on X addressing the predictions of Bank of America. According to Pompliano’s post, the US government may face a $1.6 trillion annual interest payment by December, should the Federal Reserve persist with its current monetary policies. This projection has ignited speculation among market observers, with suggestions pointing to a scenario that heralded inflation in the US economy. Notably, Bitcoin is emerging as a focal point in discussions, touted by some as a potential hedge against…

Crypto Bull Run Progresses To ‘Middle’ Phase, Future Outlook Detailed

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The cryptocurrency market has witnessed a significant surge after a prolonged bear market and the intensified crypto winter caused by the collapse of crypto exchanges and firms during 2022 and part of 2023.  Notably, Bitcoin and other major cryptocurrencies have experienced substantial price surges, accompanied by renewed interest from institutional investors entering the market through recently approved spot Bitcoin exchange-traded funds (ETFs).  Adding to the industry’s positive outlook, asset manager and Bitcoin ETF issuer, Grayscale, believes that the current state of the market indicates that the industry is in the…

Bitcoin Supply In Loss Hits 10% After Crash: What Happened Last Time

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On-chain data shows the Bitcoin supply in profit has plunged following the latest crash in the asset’s price towards the $65,000 level. Bitcoin Supply In Profit Is Now Down To Around 90% As analyst James Van Straten pointed out in a post on X, around 10% of the BTC supply is now in a state of loss. The on-chain indicator of interest here is the “Percent Supply in Profit,” which tracks the percentage of the total circulating Bitcoin supply holding an unrealized gain. This metric works by going through the…

Bitcoin Price Plummets As US Government Transfers $2B In Seized Silk Road BTC, Coincidence?

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The crypto market is abuzz with speculation as the US government recently moved significantly regarding seized Bitcoin (BTC) linked to the infamous Silk Road dark web marketplace. This development comes at a critical time for the Bitcoin price, which has struggled to maintain its position above the $70,000 threshold after hitting its current all-time high (ATH) of $73,700 on March 14.  As the largest cryptocurrency experiences yet another round of price correction, the movement of these seized funds has triggered intense speculation about a potential sell-off by the US government.…