Over the past month, we’re seen a noticeable drop in correlations (daily returns) within the digital asset market, with BTC versus ETH correlations dropping, altcoins to CoinDesk 20 rising, and crypto vs equity market correlations flipping positively. Source
In an exciting turn of events, Dogecoin (DOGE), the popular meme-based cryptocurrency, is once again attracting attention in the market as February approaches. Meme coins, including DOGE, are gearing up for a potential comeback amidst a renewed sense of recovery in the crypto market. The surge in network expansion, if sustained, has the potential to positively impact the price of DOGE, according to market experts. Over the past week, the number of new addresses in the Dogecoin network has skyrocketed by over 1,000%, showcasing the increasing interest and participation in…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Crypto analyst Michaël Van De Poppe is bullish on Polkadot (DOT). Meanwhile, Pullix (PLX) and Maker (MKR) are some of the emerging altcoins that are gaining traction. Some analysts predict that PLX, which is now in stage 7 of 8 of its presale, will rally in 2024. Polkadot to $17? Michaël Van De Poppe believes DOT is bullish as prices retest crucial support at around $5.50. The correction has…
Crypto analyst and long-term crypto investor Jelle has highlighted an interesting historical pattern that suggests that February could be bullish for Bitcoin. This would no doubt be a relief for BTC investors who have to deal with a bearish January for the flagship crypto token. Why February Could Be Bullish For Bitcoin Jelle stated in an X (formerly Twitter) post that “February should be strong” for Bitcoin “if history keeps repeating itself.” The history which he alludes to is the pattern where February turns out to be a green month for…
A cryptocurrency exchange survey found that cryptocurrency adoption continues to increase in Europe. According to Binance Square, high yield, decentralization, and innovation are key motivators for Europeans entering the cryptocurrency market. In total, 10,498 people made up the sample for the poll. Participants from France, Italy, Spain, and Sweden were conducted for the survey on the Binance Survey Platform between Oct. 14 and Nov. 8, 2023. Data obtained from interviews found support for crypto overwhelmingly positive, which while might be expected from the source of the polling data, nonetheless reveals…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. This article explores the growth potential of Chainlink (LINK), Solana (SOL), and Ethereum (ETH). It also delves into Galaxy Fox, a crypto project targeting $4 million in the ongoing presale. Chainlink is resilient Despite the market downturn, LINK has been holding its ground. The token has recovered and is trading above the $14.2 support level. This may suggest buyers are still interested in Chainlink, and there is potential for…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Chainlink (LINK) shows hints of recovery, which might see the token rise to fresh highs. Similarly, Stacks (STX) is firm, adding 407.6% year-to-date with room for more gains in the future. Meanwhile, some traders are exploring Meme Moguls (MGLS), a new crypto, to diversify. Chainlink price forecast Chainlink is bullish and way above its 200-day EMA. LINK is up 120% in the past year, moving from $14.25 to $16.43…
Ether’s one-week call-put skew, a gauge of demand for calls relative to puts expiring in seven days, fell to nearly -8 on Wednesday, the lowest in over three months, indicating a preference for bets that ether’s price will decline. The gauge stayed negative at press time, with one-, two- and three-month skews exhibiting a negative outlook. Source
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The U.S. Securities and Exchange Commission (SEC) recently approved multiple applications for spot Bitcoin ETFs. The approval of these ETFs has been met with positive reactions from the crypto community, with some analysts predicting that they could stabilize Bitcoin prices and promote price discovery. Besides Bitcoin, Chainlink (LINK) and InQubeta (QUBE) have also gained popularity recently. In the ongoing presale, InQubeta has raised over $8.4 million. InQubeta: raising the bar…
So while the new spot ETFs have gathered more than 94,000 bitcoin and $3.9 billion in assets under management (AUM) since opening for trade (data through Jan. 19), the bears are pointing out that 53,000 of those tokens may just be GBTC holders moving their money into the lower cost vehicles. (GBTC charges a 1.5% management fee, at least 1 percentage point more than nearly all of the new funds.) Source