Month: April 2024

Bitcoin Price Downside Thrust Over Or The Bears Are Not Done Yet?

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Bitcoin price started a major decline amid the Israel-Iran tensions. BTC declined toward $60,500 and is currently attempting a recovery wave. Bitcoin is attempting a recovery wave from the $60,500 support zone. The price is trading below $65,500 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance at $65,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $66,000 resistance zone. Bitcoin Price Recovery Faces Hurdles Bitcoin price started a…

JPMorgan Warns of Downside Risk in Crypto Markets

JPMorgan has warned of a downside risk in crypto markets, citing subdued crypto venture capital flows. The global investment bank’s analysts also remain cautious about the U.S. Securities and Exchange Commission (SEC) greenlighting spot ethereum exchange-traded funds (ETFs) in May. Crypto Market’s Downside Risk Warning Global investment banking giant JPMorgan published a report on Thursday, […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Goldman Sachs Raises Gold Price Forecast to $2,700, Acknowledges Rise Not Caused by Usual Macro Factors

Goldman Sachs, a leading investment banking institution, has updated its gold price forecast due to the unforeseen strong performance of the metal in 2024. In a note directed to investors, the bank expects gold to reach $2,700 per ounce by year’s end, pushed by non-traditional factors. Goldman Sachs Updates Gold Price Outlook to $2,700 per […] Source CryptoX Portal

Volatile Nigerian Currency Rallies 12%, Becomes Best-Performing Currency in April

After months of sustained decline, the Nigerian currency has rallied since March and is currently ranked as the best-performing fiat currency in April. Andrew Matheny, an economist at Goldman Sachs, said the naira’s momentum can only be maintained if policymakers do not deviate from their current course. Maintaining the Momentum of the Naira According to […] Source CryptoX Portal

Iran-Israel conflict brings bear market, SEC to sue Uniswap, Bankman-Fried to appeal

The unfolding conflict between Iran and Israel contributed to a collapse in crypto prices on Sunday, April 14. Last week, the Securities and Exchange Commission sent a Wells Notice to Uniswap, declaring intentions to sue the exchange amid increased regulatory efforts. Meanwhile, FTX founder Sam Bankman-Fried seeks to appeal his sentencing. The calm before the storm The crypto market started the week favorably, with the global crypto market cap surging 3.6% to a 3-month high of $2.62 trillion on April 8, with Bitcoin (BTC) reclaiming the $72,000 price threshold following…

Dogwifhat To The Vet! Meme Coin Needs Medical Attention After Price Plunge — Analyst

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Dogwifhat (WIF) witnessed a sharp decline, with its price plummeting by nearly 20% over the past 24 hours. This latest downturn marks a continuation of the downward trend that began in late March, culminating in a significant 40% decrease. Analysts Raise Concerns: ‘It Needs To See A Vet’ The drastic price drop has prompted analysts to voice their concerns, with one commentator humorously remarking, “It needs to see a vet.” The analogy underscores the severity of the situation, suggesting that Dogwifhat’s current state requires careful attention and intervention. I think…

Ethereum startup Aligned Layer nabs $2.6m in venture capital

Aligned Layer, a startup touted as a “universal verification layer for Ethereum,” confirmed Sunday, April 14, that it raised $2.6 million in seed funding. Lemniscap, a seven-year-old firm that has backed multiple companies in the crypto blockchain space, led the effort. The firm previously led the $2.4-million funding round for web3 startup Safary in January. Bankless Ventures and Paper Ventures are also backing Aligned Layer, along with StarkWare, O(1)Labs and Ingonyama CEO Omer Shlomovits. Aligned Layer announced the capital raise via social media. See below. 1. We’re excited to announce…

Solana Developers Test Congestion Fixes in Testnet, Introduce Measures to Prioritize Traffic

Anza, a collective of developers focused on the Solana blockchain, has produced a fix that aims to reduce the congestion that the network has been experiencing. The new version of Solana, now being tried in testnet, includes a feature called stake-weighted quality of service (SWQOS), that prioritizes transactions from higher quality validators. Solana Gears up […] Source CryptoX Portal

Top cryptocurrencies to watch this week: BTC, SOL, PEPE

Bitcoin (BTC) and Solana (SOL) were two of the leading assets impacted by last week’s crypto market downturn. Meanwhile, Pepe (PEPE) experienced a steeper price drop. This price crash reverberated throughout the entire cryptocurrency market, with the global crypto market cap losing over $280 billion over the last seven days in a massive 10% drop to $2.32 trillion at the time of writing. Here is an overview of how some of the most impacted cryptocurrencies performed over the week: BTC, SOL and PEPE prices – April 14 | Source: Santiment…

Ethereum Whales Go On Buying Spree Amid Market Crash

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Ethereum, one of the leading cryptocurrencies, finds itself amidst a price decline alongside the broader crypto industry. This downturn has been exacerbated by escalating tensions in the Middle East, casting a shadow of uncertainty over the market. As the majority of cryptocurrencies experience a bleed in value, Ethereum is not immune to the trend. However, while retail investors panic-sell their holdings, on-chain data presents a different picture. Big player whales in the market are seizing the opportunity to accumulate assets, displaying a bullish sentiment amid the turmoil. Particularly, on-chain data…