Tag: Analyst

Top Analyst Issues Bitcoin Alert As Top Cryptocurrency Floats Above $16,000

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A widely followed crypto strategist is warning Bitcoin (BTC) traders that the king crypto looks poised for another sell-off event. The pseudonymous analyst Kaleo tells his 545,700 Twitter followers that Bitcoin has taken out its diagonal support on the one-hour chart and appears ready for a steep correction to $12,500. “Zooming in, a continuation lower before any type of bounce is the most likely scenario. We’ve already seen the inverse pennant break lower, and the next solid support level converges at the retest of the high timeframe trend breakout and support…

Citi Analyst Warns of ‘Serious’ Contagion Risk to Crypto Ecosystem From FTX Failure – Featured Bitcoin News

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A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemming from the collapse of crypto exchange FTX, noting that the contagion “can last for a significant amount of time.” He added that the crypto industry seems to have “no significant lender of last resort.” Citi’s Analyst Warns of Broader Contagion to Crypto Ecosystem Citi analyst Joseph Ayoub explained in an interview with CNBC Friday that the overall cryptocurrency market faces risks of contagion from the implosion of FTX. The troubled crypto exchange filed…

FTX hacker still draining exchange wallets? Analyst calls it on-chain spoofing

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The FTX hacker that drained over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continues to drain assets from the exchange, four days after the hack was first flagged. Crypto analytic firm Certik, in a tweet, noted that the hacker wallet is still draining crypto assets from the wallets associated with the FTX and FTX.US. The FTX hacker wallet currently holds $62 million worth of assets. Since Nov. 12 the hacker wallet has received and swapped 3.2 billion meme tokens…

FTX crisis likely to spark a domino effect, macro analyst explains

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The repercussions of the cataclysmic FTX downfall are going to be broader than the crypto markets, as they will accelerate downward moves in stocks and commodity markets, according to Mike McGlone, senior marco analyst at Bloomberg. “Bitcoin has been one of the leading indicators on the way up, and it’s a leading indicator on the way down. And it’s just broken down, so expect most dominoes to fall,” McGlone pointed out in a recent interview with Cointelegraph.  McGlone expects traditional stocks to continue falling as the Federal Reserve keeps raising…

Analyst Highlights Key Factors To Notice Following Recent Bitcoin Price Hike

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Investors are very particular about the price of Bitcoin. There’s no surprise there, seeing that the values of other digital tokens depend on it. When the price surges, the market goes uptrend and vice versa. Bitcoin, being the most prominent cryptocurrency, has maintained a stagnant price movement in the past couple of weeks. This fact has kept the crypto market in the red zone for a while, and investors are still sceptical about what’s to come. But the market saw a sharp surge in Bitcoin price. Its bullish move also…

Analyst puts Bitcoin price at $30K next month with breakout due

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Bitcoin (BTC) “will break out significantly” in the next month, with an upside target of $30,000. That was the latest prediction from Michaël van de Poppe, founder and CEO of trading firm Eight. Analyst on November price target: “My guess is probably $30K” In a tweet on Oct. 25, Van de Poppe joined a growing number of analysts delivering bullish BTC price forecasts. BTC/USD is currently marked by a distinct lack of volatility, but signs are flowing in that the sideways trend is due a major shake-up. Bitcoin’s Bollinger Bands…

Coinbase to Significantly Benefit From $1.6B Transfer of MakerDAO’s USDC, Analyst Says

Lau wrote that the added USDC on Coinbase Prime would help the company gain assets and aid Coinbase’s ability to conduct similar proposals, while also potentially growing the total addressable market of USDC and boosting its revenue share. Oppenheimer rates Coinbase’s stock with an outperform and $107 price target. Shares were trading around $65.45 apiece in Friday’s session. Source

Observers Suspect an Aggressive Fed Rate Hike Next Month, Analyst Predicts Fed Will Pivot in December – Bitcoin News

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According to recent reports close to central bank officials, the U.S. Federal Reserve will likely deliver another interest rate hike by roughly 75 basis points (bps) next month. Moreover, markets are predicting another rise by three-quarters of a point, and CME’s Fedwatch Tool indicates there’s a near-certain (98%) chance the central bank will choose a 75bps raise. Despite the market expecting an aggressive Fed, an analyst from investors.com believes the Fed will pivot by December depending “on how financial markets act between now and then.” Philadelphia Fed President: ‘Inflation Is…