Tag: Rally

Is Bitcoin Rally Over? Leverage Drops As Halving Highs Fade: Report

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Recent trends in the crypto market have indicated a notable shift in trader behavior, particularly among those investing in Bitcoin. Using data from CryptoQuant, Bloomberg has revealed that the Bitcoin funding rate—the cost for traders to open long positions in Bitcoin’s perpetual futures—has turned negative for the first time since October 2023. Bitcoin Funding Rates: Source: CryptoQuant This change suggests a “cooling interest” in leveraging bullish bets on Bitcoin, coinciding with the fading impact of major market drivers. Bitcoin Market Dynamics Post-Halving The decline in Bitcoin’s funding rate correlates with…

Bitcoin (BTC) Bulls Pin Hopes on Weaker Dollar to Extend Rally

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The U.S. dollar is a global reserve and invoicing currency, playing a major role in international debt, non-bank borrowing, and global trade. When the dollar appreciates, USD-denominated debt becomes expensive, which, in turn, disincentivizes risk-taking in financial markets. A weaker dollar has the opposite effect. As such, over the years, bitcoin and the broader crypto market have tended to move in the opposite direction of the DXY, just as stocks and gold. Original

Ethereum Price Holds Support – Why ETH Could Soon Rally 5%

Ethereum price is holding gains above the $3,120 resistance zone. ETH could soon rally if it clears the $3,280 resistance zone. Ethereum extended its increase above the $3,220 resistance zone. The price is trading above $3,165 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,170 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,280 resistance zone. Ethereum Price Aims Higher Ethereum price remained in a positive zone above…

Ethereum Price Hints At Potential Fresh Rally, Buy The Dip?

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Ethereum price is moving higher above the $3,120 resistance zone. ETH could start a fresh rally if it clears the $3,280 resistance zone. Ethereum is recovering higher and approaching the $3,280 resistance zone. The price is trading above $3,100 and the 100-hourly Simple Moving Average. There was a break above two connecting bearish trend lines with resistance at $3,070 and $3,150 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it closes above the $3,250 zone. Ethereum Price Regains Strength Ethereum price…

Analyst Predicts Cardano (ADA) To Rally By 75% As MVRV Ratio Plummets

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In recent weeks, ADA, the native token of the Cardano network. has drawn much speculation due to a rather turbulent price performance resulting in a decline of 18.77% in the past month. This negative price movement is similar to the majority of the cryptocurrency market following unprecedented massive dips in the price of Bitcoin.  However, despite ADA’s troubles, popular crypto analyst Ali Martinez is backing the coin to pull off a remarkable rebound. Interestingly, Martinez’s prediction comes as the digital asset attempts to find its feet, gaining by 9.92% in…

Bitcoin Mega Whales Are Buying, Time For Rally To Return?

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On-chain data shows that the largest number of investors in the Bitcoin market are finally buying, which could be bullish for the asset’s value. Bitcoin Mega Whales Have Shown Net Inflows In The Past Day In the past few weeks, the Bitcoin price has struggled to mount any significant bullish momentum as it has been stuck consolidating inside a range. Earlier, while this was happening, the largest holders in the space had been sitting quietly, not buying or selling anything notable. According to data from the market intelligence platform IntoTheBlock,…

JPMorgan, Deutsche Bank expect no rally for Bitcoin, say halving priced in

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Analysts from JPMorgan Chase & Co and Deutsche Bank AG say the upcoming halving is mostly priced in, shifting focus to how mining will be affected. JPMorgan Chase & Co and Deutsche Bank AG don’t expect big changes for Bitcoin’s price after the halving, saying the market has already mostly priced in this software update, which occurs once every four years. According to a Bloomberg report, the focus will now shift toward the implications for Bitcoin mining, with expectations of consolidation among publicly-traded firms gaining market share as unprofitable miners…

Chainlink (LINK) Forms Bullish Pattern That Led To 50% Rally On Average

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On-chain data shows that a Chainlink indicator is currently forming a pattern that has led to an average 50% increase for LINK in the past. Chainlink 30-Day MVRV Ratio Has Plunged In a new post on X, analyst Ali discussed the latest trend in Chainlink’s 30-day MVRV ratio. The “Market Value to Realized Value (MVRV) ratio” is a popular on-chain indicator that tracks the ratio between LINK’s market cap and realized cap. The market cap naturally refers to the total valuation of the asset’s circulating supply at the current spot…

Crypto Analyst Predicts Cardano Rally To $3 As Price Reaches ‘Ultimate Support Test’

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Crypto analyst Trend Rider has drawn Cardano (ADA) holders’ attention to the crypto token’s potential to experience a significant price rally soon enough. Based on Trend Rider’s analysis, Cardano could rise to as high as $3 when this happens.  Cardano To Rise To $3 If History Repeats Itself Trend Rider mentioned in an X (formerly Twitter) post that if history repeats itself, Cardano might be on the brink of its “ultimate support test” before it makes a parabolic move to the upside. He further suggested that the crypto token could…