Day: May 2, 2024

Trader Weights In On Crypto Cycle

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This crypto cycle achieved some remarkable feats during Q1 2024, including the highest monthly and quarterly close in Bitcoin (BTC) history. However, BTC suffered a retrace that dragged Ethereum (ETH) and the rest of the crypto market down as the year’s second quarter started. Now that we are one month into Q2, the market faces another correction. The most recent retrace became the deepest of the cycle, with Bitcoin nosediving into the $57,000 support zone and Ethereum falling below $3,000. Despite the market’s stumble, analysts remain optimistic for what’s to…

Crypto Investors Bet Big On ETFSwap (ETFS) Presale To Leverage Spot Bitcoin ETFs Popularity – Blockchain News, Opinion, TV and Jobs

Crypto investors are now moving to the ongoing ETFSwap (ETFS) presale as Spot Bitcoin ETFs surge in popularity. Crypto investors are now looking into ETFSwap (ETFS) amidst surging interest in Spot Bitcoin ETFs. With ETFSwap (ETFS), users can access both decentralized finance (DeFi) and the conventional exchange-traded fund (ETF) market without having to purchase any assets directly.  Investors can profit from a closer integration between these two markets by trading and using particular platform features with different tokenized ETFs. These tokenized exchange-traded funds (ETFs) replicate the performance of significant institutional…

JPMorgan: Retail Investors Drive Selloff in Both Crypto and Equity Markets

JPMorgan has highlighted a significant increase in selling and profit-taking across equity and crypto markets, driven largely by retail investors. The global investment bank also observed institutional momentum traders and quantitative funds reducing positions, particularly in stocks, bitcoin, and gold. Insights on Market Trends by JPMorgan JPMorgan, a global investment bank, has provided insights on […] Source CryptoX Portal

Bitbot’s Presale Passes $3M After AI Development Update – Blockchain News, Opinion, TV and Jobs

London, United Kingdom, May 2nd, 2024, Chainwire AI-powered Telegram trading bot, Bitbot, has surged past the $3M mark in its presale after outlining its updated product offering. Bitbot now includes a layer of AI development on its blockchain analysis tool, Gem Scanner. The project has hurtled into stage 12 of its short 15-stage presale due to end this quarter, at which point the BITBOT token will be unleashed upon the open market.  The Bitbot community now numbers over 140k, with 110k+ followers on X and a Telegram channel approaching 30k.…

Dogecoin Breaks Out Of Descending Triangle Like It Did In 2021, Analyst Sets $6 Target

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The Dogecoin price action seems to have turned bearish after a bearish close to April. Projections for the meme cryptocurrency are not bullish in the short term, especially considering the fact that it is now experiencing a 47% price correction from its highest point in the current market cycle. Despite its recent plunge, one analyst believes all is still well with Dogecoin, and the crypto asset is only gearing up for a bull run into new price territories.  Dogecoin Repeating Behavior From Previous Bull Run According to a recent analysis…

Block (SQ) Adding More Bitcoin (BTC) to Balance Sheet

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Zksnacks to Cease Coinjoin Transactions, Affecting Wasabi, Trezor and Btcpay

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […] Source CryptoX Portal

A Rare Opportunity To Buy?

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As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. This overview is welcomed, considering the recent…