Day: July 5, 2024

The success of a Solana ETF relies heavily on Trump election outcome, analyst says

A Solana ETF approval will likely hinge on changes within the Securities and Exchange Commission (SEC) and with Donald Trump victory looming large. Following the recent approval of spot Bitcoin (BTC) and Ethereum (ETH) ETFs, VanEck is now seeking approval for its own Solana (SOL) ETF.  However, the sentiment in the crypto space is that many regulatory challenges loom large for any altcoin ETFs other than ETH or BTC.  VanEck’s analysts have acknowledged that substantial regulatory changes are necessary before the Solana ETF can gain approval. . In a recent…

Is This The Best Time To Buy BTC?

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Bitcoin is fast selling off. At spot rates, the world’s most valuable coin dropped by over 5% on the last day of trading and continues to spiral lower, easily breaking $60,000. The psychological round number has been level to watch out for over the previous few days, especially following gains over the weekend. Bitcoin Is Down: Is It Time To Buy? While Bitcoin is edging lower and sellers are relentless, one analyst thinks this is the right time to stack up. In a post on X, the analyst argues that…

XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

What’s Next For The Crypto?

Ethereum price remained in a bearish zone below $3,250 zone. ETH dived below the $3,000 support and even tested the $2,850 zone. Ethereum started a fresh decline below the $3,120 and $3,000 levels. The price is trading below $3,000 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct losses, but upsides might be limited above the $3,120 zone. Ethereum Price Dives 8% Ethereum price failed to start…

Risk of More Losses as $55K Test Looms

Bitcoin price failed to start a recovery wave above the $61,500 resistance zone. BTC started another decline and might dive toward $55,000. Bitcoin started a fresh decline and traded below the $58,500 zone. The price is trading below $60,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $58,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to start a fresh increase above the $60,000 resistance zone. Bitcoin Price Extends Losses Bitcoin price…

Indicators Point To Possible 7,500% Rally To $35

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A crypto analyst has identified key indicators that point to a substantial rally for XRP, the native token of the XRP Ledger (XRPL). According to the analyst, XRP is poised to rebound from its bearish trends and soar to new all-time highs  XRP To Mirror 2017 Rally To New Highs In an X (formerly Twitter) post in June, crypto analyst, Tylie Eric expressed bullish optimism about XRP, emphasizing the cryptocurrency’s potential for a major rally this year. He shared an XRP price chart depicting the cryptocurrency’s price movements from as…

Mt Gox Trustee Transfers $2.7B in Bitcoin, Creating 19th Largest BTC Wallet

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On Thursday, the trustee overseeing the Mt. Gox bitcoins transferred about 47,228.73 BTC to an undisclosed address. The transfer, valued at approximately $2.7 billion, leaves Mt. Gox with around 141,687 BTC worth nearly $8.1 billion. This significant transaction came after several test transfers were conducted earlier on July 4. The trustee had previously announced that […] Original

Cardano (ADA) Founder Claps Back At ‘Dead Coin’ Comments

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Cardano Founder Charles Hoskinson responded to Ben Armstrong’s comments about ADA status as a ‘dead coin’. Hoskinson’s reply sparked a conversation about the state of the crypto industry and what’s valued in projects. Related Reading Cardano And Polkadot Labeled ‘Dead Coins’ On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) and Polkadot (DOT). The influencer took X to explain his previous comments, stating that both cryptocurrencies were dead. In a YouTube Video from April, Armstrong said that ADA was “dead for real.” The…

Bitcoin’s quick dip below $57k forces beginners to capitulate, CryptoQuant says

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As Bitcoin plunged below the $57,000 mark, concerns surged among investors about potential market volatility and its impact on miners. On Thursday morning, speculators continued their selling pressure, forcing Bitcoin (BTC) to dip below $57,000 for the first time since February. As of press time, Bitcoin rebounded above the $57,000 mark, but its previous quick plunge might signal weakness, potentially impacting sentiment among retail traders. Bitcoin daily price in USD | Source: crypto.news Blockchain research firm CryptoQuant noted that crypto beginners — who bought BTC over the past six to…