Day: July 10, 2024

Bitcoin Loses Correlation With US Equities As Supply Challenges Mount

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In recent months, the correlation between surging US equities and Bitcoin (BTC) has shown signs of collapse, as the cryptocurrency faces a combination of excess supply and weakened demand that has led to an over 20% price drop from June highs above $70,000 for the largest cryptocurrency on the market.  Bitcoin Correlation With Nasdaq 100 According to Bloomberg, the 90-day correlation coefficient between Bitcoin and the Nasdaq 100 index dropped to 0.21 on Tuesday, marking its lowest level since the beginning of May. This decline reflects a more than 50%…

Bitcoin Traders Beware: Analyst Warns Of Potential Traps Amid Price Fluctuations

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In a recent episode of Crypto Banter’s “The Sniper Trading Show,” the analyst dissected Bitcoin, discussing various hurdles and approaches to handle trading through these challenges. With Bitcoin currently teetering around the $57,403 mark, up by 2.4% in the past 24 hours yet still down 21.9% from its March peak, the market sentiment is cautiously tinged. This cautious stance is echoed by the Crypto Fear and Greed Index, which the analyst shows stands at a wary 28, indicating that buyers are getting “cold feet”—a sentiment that historically signals buying opportunities…

Singapore Exchange CEO Discusses Future of Crypto Listings

Singapore Exchange (SGX) CEO Loh Boon Chye has shared his insights on whether Singapore’s largest stock exchange will offer crypto-based listings. The executive emphasizes the need for a sustainable ecosystem, stating: “That really means demand, that really means governance, that really means structure.” Despite global trends and institutional pressure, Loh asserts that current conditions are […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Avalanche (AVAX) Price Teases Breakout: Momentum Could Drive More Upsides

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AVAX price is gaining pace above the $26.50 resistance. Avalanche could rise further if there is a clear move above the $27.75 resistance zone. AVAX price is moving higher from the $24.70 support zone against the US dollar. The price is trading above $26.50 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $26.50 on the hourly chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $26.00 and $25.50…

Bonk Inu (BONK) Skyrockets 10%, Dethroning WIF As Solana’s Largest Meme Coin

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The dog-themed meme coin, Bonk Inu (BONK), has seen a significant price increase over the past 24 hours, reaching a one-month high of $0.00002698. The meme coin’s price jumped 10%, coinciding with the broader market rally, resulting in Bonk Inu becoming the largest meme coin by market capitalization in the Solana ecosystem, surpassing Dogwifhat (WIF). Bonk Inu Surges Ahead Of Competitors According to CoinGecko data, the recent surge propelled Bonk Inu’s market capitalization to $1.735 billion, surpassing WIF’s market cap of $1.69 billion. This places BONK in the 52nd spot…

Breaking This Resistance Could Trigger Recovery

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…

Bitcoin to the Moon? 300% Growth Predicted By This Latest Crypto Analysis

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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more…

Positive Indicators Light the Path

Ethereum price seems to be aiming for a decent recovery. ETH could gain bullish momentum if there is a clear move above the $3,110 resistance. Ethereum is slowly moving higher above the $3,000 level. The price is trading above $3,000 and the 100-hourly Simple Moving Average. There is a short-term declining channel or a bullish flag forming with resistance near $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above the $3,110 resistance. Ethereum Price Eyes Steady…