Tag: Analyst

Bitcoin open interest passes $15B as analyst warns of 20% BTC price dip

Bitcoin (BTC) fell toward $34,500 on Nov. 7 as analysts’ attention turned to mushrooming open interest. BTC/USD 1-hour chart. Source: TradingView Open interest “surge” spooks Bitcoin pundits Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory struggling to reclaim $35,000 as support. The largest cryptocurrency lacked clear direction into the Wall Street open, but market participants predicted that volatility would soon return. The reason, they said, was a sharp increase in open interest (OI) on derivatives markets. “Almost 10k BTC (~$350MM USD) in open interest added today. Fireworks…

Near-Term XRP Price Rally Of 270% Is Imminent: Crypto Analyst

The XRP price has seen a strong uptrend in recent days, demanding attention from investors and analysts alike. According to crypto analyst Dark Defender, XRP has surpassed the short-term price target of $0.66, a bullish signal for the digital asset’s trajectory. “We set $0.66 as a very short-term target, and now it’s broken in the 4-hour time frame. Congrats, who believed in it,” tweeted Dark Defender. The Next Near-Term XRP Price Target The analyst highlights the necessity for XRP to maintain its stance above this level to confirm its bullish…

Analyst Predicts ‘Santa Claus Squeeze’ May Deliver Year-End Gains

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Markus Thielen, the Head of Crypto Research and Strategy at Matrixport, has hinted at a potential pre-Christmas rally with Bitcoin leading the charge. This anticipation comes amid a backdrop of macroeconomic shifts that could set the stage for a significant surge in crypto prices, which Thielen describes as the “Santa Claus squeeze.” Thielen’s analysis is rooted in recent market movements where some altcoins began to outperform Bitcoin, suggesting a momentum build-up that could translate into substantial gains. Macroeconomic Indicators Fueling Crypto Optimism This concept of a “Santa Claus squeeze” in…

Can The ADA Price Climb Above $20 In The Bull Market? Analyst Provides Answers

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The ADA price has always performed incredibly well in the bull market cycles with price rallies that have put millions of holders in profit in the past. However, like any other cryptocurrency, it can be hard to pinpoint how high the price will climb in the next bull market. Nevertheless, one crypto analyst is taking the bull by the horns to reveal where they expect the altcoin’s price to reach in the next bull market. ADA Price Could Rise As High As $24 In an analysis posted to TradingView, crypto…

Blockchain adoption continues unabated — Bloomberg analyst

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Should the current rate of adoption continue, blockchain technology could have 100 million daily users by 2028, according to projections by Bloomberg Intelligence analyst Jamie Coutts.  On X (formerly Twitter), Coutts pointed out that blockchain adoption has been “unabated” throughout bull and bear markets over the past years. “Not having exposure to one of the largest structural trends of the next decade could be costly,” said the analyst. Daily active addresses exceed 5 million in the third quarter of 2023, up 14% from 2022, according to Coutts, while quarter-on-quarter growth…

Analyst points to Coinbase’s future after disappointing quarter

Coinbase’s stock fell over 4% in after-hours trading following the release of the company’s third quarter earnings on Thursday, which showed declining revenue and profits compared to the previous quarter. Crypto enthusiast and Lumida Wealth Management CEO Ram Ahluwalla believes there is still a bull case for Coinbase, but the company needs to make some changes to unlock value and transform into “the next Square.” Ahluwalla points in a Nov. 3 Twitter thread, out that Coinbase’s top-line revenue declined along with the overall crypto market in Q3. He says the…

Is Fantom (FTM) About To Explode Like Solana (SOL)? This Analyst Thinks So

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FTM, the native currency of the Fantom ecosystem, might be the next coin to follow and perhaps outperform Solana (SOL). This optimistic preview is by one technical analyst, “Magnate,” who, in an X post on October 3, said traders who missed the SOL rally may have a chance with FTM.  FTM likely to rally | Source: Magnate on X Solana Is Exploding: Reverses Post-FTX Losses At press time, SOL is trading at new 2023 highs and has reversed all post-FTX losses. Changing hands at $39 as of writing on November 3, the…

Will Cardano Replicate Solana’s Surge? Analyst Reveals Similarities For 80% Rise

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Cardano (ADA) has returned to the radar of crypto investors after an interesting run brought its price up above $0.3. This price level has been elusive for a while but eventually, the bulls have gotten a hold of it. As the market faces an impending downturn, Cardano’s run-up could be threatened. However, one crypto analyst believes that ADA could have gone the way of Solana over the past few days. Cardano Doing A Solana Run In a TradingView post, crypto analyst Alan Santana revealed their expectations for the Cardano price.…

Analyst Raises Red Flag On Bitcoin Rally, Predicts Imminent Retreat After 35% Spike

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As Bitcoin (BTC) continues to consolidate above the $34,000 mark, aiming to surpass and reclaim its yearly high, theories suggest that a retracement may follow the current upward spike in the coming weeks.  On this matter, the renowned crypto analyst known by the pseudonym “Crypto Soulz” recently shared insights on the potential short-term retracement for Bitcoin in a recent post on X (formerly Twitter). BTC’s Local Top At $36,000 Signals Potential Reversal According to Crypto Soulz, a key resistance level for Bitcoin is identified at $37,370. The analyst suggests that this…