Day: September 23, 2024

Bitcoin Could Reach $108,000 To $155,000 By 2024 End, Analyst Reveals Why

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Este artículo también está disponible en español. An analyst has explained why Bitcoin could end the year 2024 inside the $108,000 to $155,000 range if history repeats for the asset. Bitcoin Performance Has Been Similar To Last Two Cycles So Far In a new post on X, analyst James Van Straten has discussed about the BTC price performance from the cycle low chart for the last couple of cycles. As its name suggests, this chart captures the price trend between successive cyclical lows. For the latest cycle, the start-point is…

BTC, ETH Rise in Muted Trading to Start the Week

Major cryptocurrencies made cautious gains to start the week, with BTC around 1.3% higher over 24 hours at just under $63,500. Ether outperformed bitcoin, rising 2.7% to $2,650, while the broader digital asset market is up just under 1.1%, as measured by the CoinDesk 20 Index. Data from CoinGlass shows that in the last 12 hours, slightly more short positions than longs have been liquidated, with $64.23 million in short positions and $54.42 million in longs being liquidated. Trading is likely light in the aftermath of last week’s 50 basis-point…

Bitcoin Technical Analysis: BTC Consolidates, Signaling Potential Breakout

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Bitcoin is currently trading at $63,554, following a fluctuating 24-hour range between $62,479 and $64,687. Key technical indicators show mixed signals, with consolidation after recent resistance at $64,730. Traders are watching closely for potential entry points as market indecision sets in across multiple timeframes. Bitcoin On the 1-hour chart, bitcoin (BTC) shows signs of cooling […] Original

Spot Bitcoin ETFs ended the week with $92m in inflows, ETH ETFs continue to struggle

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Spot Bitcoin and Ethereum exchange-traded funds in the United States experienced joint net inflows to close the trading week, and both saw even larger inflows earlier in the week. However, ETH ETFs are still experiencing net outflows since launching this summer. According to data from SoSoValue, the 12 spot Bitcoin ETFs saw net inflows of $92 million on Friday, Sept. 20, 42% lower than the $158 million inflows recorded on Sept. 19. Fidelity’s FBTC led the pack with $26.1 million in inflows, dropping from the previous day’s inflow of $49.9 million. ARK…

SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight

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SUI impressive bullish momentum appears to be losing steam as technical indicators point toward a potential cooldown, with the Relative Strength Index (RSI) signaling overbought conditions, raising concerns about the sustainability of the recent rally.  The $1.4 level is now in focus, as this cooling strength suggests that a pullback could be on the cards, offering a critical moment for SUI as it navigates through growing market pressure. Will the bulls hold their ground, or is a correction set to unfold? This article aims to analyze SUI’s recent price action…

Ether (ETH) Leads Post-Fed Crypto Market Rally as Yen (JPY) Weakness Sparks Risk-On Frenzy

Following the FOMC decision, several key macro assets have reacted positively. The U.S. Dollar Index (DXY) rose by 0.36%, pushing the index back above 101, a level widely regarded as vital. Meanwhile, the USD/JPY exchange rate, which had dropped to around 141 just before the Fed’s announcement, has since climbed to approximately 143.5. The weakening yen has further bolstered risk-on assets, including cryptocurrencies. Source

Australia Mandates Financial Services Licenses for Crypto Firms Under New ASIC Regulations

The Australian Securities and Investments Commission (ASIC) has announced new legislation requiring cryptocurrency exchanges to obtain financial services licenses. This expansion of the Corporations Act aims to provide clearer oversight of the crypto sector, ensuring that widely traded crypto assets, such as bitcoin, are appropriately regulated. The new regulations are set to be implemented by […] Source CryptoX Portal

Fed Rate Cuts Spurs $1.6 Billion Bitcoin Buying Spree Among Whales, Can BTC Reach $70,000?

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Este artículo también está disponible en español. The Fed rate cuts have boosted the confidence of Bitcoin investors, with whales buying up to 1.6 billion BTC since the macro decision. With such a bullish outlook, there is the possibility that the flagship crypto can soon reach $70,000.  Fed Rate Cuts Prompt Buying Spree Among Bitcoin Whales The Fed rate cuts have prompted a buying spree among Bitcoin whales. These investors bought over 1.6 billion worth of Bitcoin following the macro decision on September 18. Data from the market intelligence platform…