Day: December 19, 2024

Bitcoin Exchange Reserves Hit Record Low, Could $120K Be on the Horizon?

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Bitcoin has seen continuous bullish momentum in recent weeks resulting in the asset’s consistent new highs. According to recent analysis, this momentum appears to not just be random as it comes amid major moves behind the scenes. Particularly, recent data indicates that Bitcoin reserves have dropped to a historic low of 2.4 million, signaling a “supply shock” that has coincided with a surge in Bitcoin’s price. This reduction in exchange reserves, coupled with strong demand, has created a bullish environment that could set the stage for further price increases. A…

Bitcoin’s Astronomical Returns: 14,211 New Millionaires and 4 New Billionaires Emerge

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Bitcoin’s surge past $100,000 has created 14,211 new millionaires and four new billionaires, a new study NFT Evening has revealed. Bitcoin Investors Outshine Blue-Chip Stock Investors According to findings from an NFT Evening study, bitcoin’s surge past the $100,000 mark has created 14,211 new millionaires and four new billionaires. The report explains that bitcoin (BTC) […] Original

Key Resistance Holds The Answer

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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…

Secret Bitcoin Driver: Exchanges Receiving $40 Million USDT Fuel Per Day

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On-chain data shows a massive amount of the stablecoin USDT has been moving to exchanges recently, potentially acting as fuel for the Bitcoin and wider cryptocurrency rally. USDT Exchange Inflows Have Remained High Recently In a new post on X, the on-chain analytics firm Santiment discussed the trend in the Exchange Flow Balance for Tether’s USDT. The “Exchange Flow Balance” here refers to an indicator that keeps track of the net amount of a given asset entering or exiting the wallets associated with centralized exchanges. When the value of this…

California Court Allows Coinbase to Delist Wrapped Bitcoin

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Coinbase has successfully fended off a restraining order sought by BiT Global as a California court ruled in favor of the exchange’s decision to delist Wrapped Bitcoin.  The Hong Kong-based company BiT Global is allegedly tied to crypto entrepreneur and TRON founder Justin Sun who had sought the order to prohibit Coinbase from removing Wrapped Bitcoin (wBTC), arguing it would inflict irreparable damage to its business. The ruling from U.S. District Judge Araceli Martínez-Olguín permits the delisting to move forward as scheduled. As covered by crypto.news earlier, the American cryptocurrency…

HTX DAO’s “Confidence Journey” Second Stop a Success: Partnering with DOGE Community to Build an Open and Inclusive Crypto Ecosystem

PRESS RELEASE. The second stop of HTX DAO’s “Confidence Journey” in China concluded successfully on December 13, 2024. The event, hosted by HTX DAO and co-organized by the SUNDOG Community, Balance, and HTX, featured prominent figures like Jiang En, founder of the China DOGE Association; Cheng Qian from the DOGE community; and Molly, spokesperson for […] Source CryptoX Portal

XRP Price Drops to Crucial Support: Can It Stage a Turnaround?

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XRP price started a fresh decline below the $2.350 zone. The price retested the $2.20 support zone and is currently attempting a recovery wave. XRP price started a fresh decline from the $2.720 zone. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.40 resistance. XRP Price Dives To $2.20 XRP price…

Russian Official Declares BRICS Payment System a Real Alternative to US Dollar

A top Russian official has declared plans for a BRICS payment system “not hypothetical,” signaling a shift toward reducing reliance on the dollar through alternative financial mechanisms. A New Era? Russia Claims Feasibility of BRICS Payment Network Russian Deputy Foreign Minister Sergey Ryabkov has affirmed that plans to establish a BRICS payment system are tangible […] Source CryptoX Portal

7.8M Ethereum Leaves Binance In Two Months—What Does This Mean for ETH?

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The Ethereum market has recently seen a notable shift, with significant outflows from centralized exchanges sparking discussions about the near term trajectory of the cryptocurrency. Amid this, Ethereum has recorded a 2.4% decrease in the past 24 hours with a current trading price of $3,858, marking a 21.1% decrease away from its all-time high of $4,878 seen in 2021. Ethereum Withdrawals from Binance Surpass 7.8 Million ETH Data from CryptoQuant reveals that approximately 20.8 million ETH have been withdrawn from centralized exchanges in the past two months, a trend reminiscent…

Ethereum Price Falls 5%: Correction or Start of a Bigger Slide?

Ethereum price started a sharp decline below the $3,880 zone. ETH is down over 5% and is showing bearish signs below the $3,680 level. Ethereum started a fresh decline below the $3,800 zone. The price is trading below $3,680 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance at $3,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it fails to stay above the $3,550 support zone. Ethereum Price Dives Below $3,800…