Day: October 18, 2024

Bitcoin Holders In Profit Hits 95%: Is BTC Overheating?

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On-chain data shows around 95% of all Bitcoin holders are in profit following the latest bullish action that the asset’s price has seen. Very Few Bitcoin Addresses Are Still Underwater In a new post on X, the market intelligence platform IntoTheBlock has shared an update on how the Bitcoin holder’s profitability is currently looking. The analytics firm has made use of on-chain data to determine this. IntoTheBlock has gone through the transaction history of each address on the network to check the average price at which it acquired its coins.…

XRP Price Set To Resume Upside: Is Momentum Building?

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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…

Paypal Expands Crypto Reach: 60 Million Venmo Users Now Linked to Moonpay

Venmo’s 60 million users can now fund transactions on the Moonpay platform, thanks to a new integration announced by Paypal. U.S. users can use Venmo balances, linked bank accounts, or cards to buy and sell cryptocurrencies through Moonpay, expanding payment flexibility. However, this option is unavailable in New York and Texas, continuing Paypal’s push into […] Source CryptoX Portal

Preparing for the Next Move Higher?

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Este artículo también está disponible en español. Ethereum price is consolidating gains above the $2,580 resistance. ETH could gain pace if it clears the $2,650 resistance zone. Ethereum remained in a positive zone above the $2,550 and $2,580 resistance levels. The price is trading above $2,600 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $2,650 and $2,680 resistance levels.…

Analyst Predicts Longs Could Benefit

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Este artículo también está disponible en español. Recent reports have revealed that Ethereum has had a challenging run, underperforming compared to other major cryptocurrencies. However, despite this, some positive signs may be on the horizon. According to a CryptoQuant analyst, Percival, Ethereum’s open interest has increased significantly, indicating rising investor optimism for a potential rally. Related Reading Potential For Ethereum Rally And Longs Benefit According to the data shared by Percival, Ethereum’s open interest stands at $9.6 billion, marking a 28.57% increase from August, although it is still below the…

Bitcoin Price Positioned for More Upside: Can It Keep Climbing?

Bitcoin price holding gains above the $67,000 resistance zone. BTC is now consolidating and aiming for more gains above the $68,350 resistance. Bitcoin remained stable and extended gains above the $67,500 zone. The price is trading above $67,400 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally further if there is a close above the $68,200 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin…

Bitcoin Trades Below Global Prices In South Korea, Erasing Long-Standing ‘Kimchi Premium’

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Este artículo también está disponible en español. Bitcoin (BTC) is trading slightly lower in South Korea compared to the global cryptocurrency markets due to a reverse ‘kimchi premium,’ not seen since October 2023. Reverse ‘Kimchi Premium’ Makes Bitcoin Cheaper In South Korea According to a report by The Korea Times, there is a price differential of more than $500 between Bitcoin’s price in South Korea and global markets. Analysts attribute this to a negative ‘kimchi premium.’ Related Reading For the uninitiated, kimchi premium refers to the price difference where BTC…

Bitcoin’s Bull Rally Hinges On $57K Support Level—Here’s Why It Matters

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Bitcoin (BTC) has continued its ascent in recent weeks, reclaiming major highs. However, recent analysis suggests that the $57,000 level could be one of the most critical support points for the ongoing bull rally. This insight comes from a CryptoQuant analyst, Burak Kesmeci, who highlighted the role of Bitcoin Spot Exchange-Traded Funds (ETFs) in shaping the market stance. Bitcoin Resilience At The $57,000 Level Spot ETFs have emerged as a major instrument in the Bitcoin ecosystem, offering a regulated entry point for institutional investors. According to Kesmeci, the average cost…

Analysts Turn Bullish As ‘Something Big Is Coming’, Here’s What

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Este artículo también está disponible en español. Crypto analysts Amonyx and Egrag Crypto have provided a bullish outlook for the XRP price with “something big” on the horizon. Based on their analysis, the long-awaited price breakout for XRP could soon happen.  Something Big Is Coming For XRP Price Crypto analyst Amonyx stated in an X post that something big is coming for the XRP price. His accompanying chart showed that the crypto could enjoy a massive rally to $75. The analyst made this prediction based on XRP replicating a similar…