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Seasonality is the new buzzword touted by every macro investor who read The Intelligent Investor as a child. A historically observable effect September gives the worst stock returns of any month. Bitcoin has taken the brunt of this adverse price action, falling to $56k in the first week of September, with bearish price predictions calling […]
MATIC is under mounting bearish pressure as it continues its downward slide, drawing closer to a critical support level at $0.3132. A break below $0.3132 could open the door to additional losses, signaling a deeper bearish trend ahead. With the market sentiment turning increasingly negative, speculations are whether the bears can push the price beyond [...]
The post MATIC Slides Deeper: Will It Break The $0.3132 Barrier? appeared first on Crypto Breaking News.
Bitcoin has continued its bearish momentum as its price has now slipped below $56,000. Here’s what could be behind this trajectory, according to CryptoQuant’s Head of Research. Bitcoin On-Chain Metrics Are All Giving Bearish Signals Right Now In a new thread on X, CryptoQuant Head of Research Julio Moreno has discussed why the original cryptocurrency [...]
The post Why Has Bitcoin Been Bearish Lately? CryptoQuant Head Chimes In appeared first on Crypto Breaking News.
An analyst has explained how Bitcoin could witness a drop to the $40,600 level based on a pattern forming in its 2-month price chart. Bitcoin Has Seen A TD Sequential Sell Signal On Its 2-Month Price In a new post on X, analyst Ali Martinez has discussed about a Tom Demark (TD) Sequential signal that [...]
The post Bitcoin Could Drop To $40,600 If This Happens, Crypto Analyst Says appeared first on Crypto Breaking News.
Bitcoin faces mounting pressure as crucial indicators signal a potential drop to the $53,541 mark. With sellers gaining momentum and technical charts flashing red, the cryptocurrency is struggling to find a foothold in a volatile market. Traders are watching closely to see if the bearish trend will continue or if a reversal is on the horizon as BTC hovers near critical support levels. The next few days could be crucial in determining Bitcoin’s short-term trajectory. As Bitcoin faces increasing selling pressure, this article explores the recent bearish signals affecting its price movement, analyzing key technical indicators that suggest a potential drop to $53,541. By examining the critical support levels to watch, insights into whether BTC will find stability or continue its slide will be provided. As of the time of writing, Bitcoin was trading at approximately $56,691, reflecting a 4.04% decline with a market capitalization exceeding $1 trillion and a trading volume surpassing $31 billion. Over the past 24 hours, BTC’s market cap has dropped by 3.96%, while trading volume has surged by 22.55%. Analyzing BTC’s Recent Price Action And Key Indicators On the 4-hour chart, Bitcoin has displayed strong bearish momentum below the 100-day Simple Moving Average (SMA) following its failure to break above the $60,152 mark. The price is now attempting to fall toward the $53,541 mark. If the cryptocurrency successfully breaches this key level, it could begin a more pronounced downtrend, potentially driving the price down to other crucial support levels. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 32%. This decline highlights growing bearish momentum and suggests that selling pressure could intensify. On the daily chart, BTC is showing significant negative movement below the 100-day SMA by printing two bearish momentum candlesticks. This downbeat surge reflects strong selling pressure and negative market sentiment, increasing the likelihood of BTC reaching the $53,541 mark soon. Finally, the 1-day RSI shows that bearish pressure on BTC is intensifying. The signal line has recently dropped below 50%, now resting at 39%, which also signals growing selling pressure and a pessimistic sentiment for the digital asset. Investor Outlook: Preparing For Bitcoin Potential Downside With bearish pressure mounting and key indicators pointing to further declines, Bitcoin appears poised to drop to the $53,541 mark. Should the cryptocurrency breach this level, it could signal a more significant pessimistic move, potentially driving the price down to the next support at $50,604 and beyond. However, if Bitcoin hits the $53,541 support level and the bulls manage to stage a comeback, the price could start moving upward toward the $60,152 resistance mark. A successful breach of this resistance might lead BTC to test its all-time high of $73,811, with the potential to set a new record if it surpasses this level. Featured image from iStock, chart from Tradingview.com
An investor turns a $151.42 million Ether investment into $214.34 million during a two-year bear market by following the hodl strategy.
The Framework Ventures-backed platform has surpassed $150 million in TVL, despite a wider downtrend in the NFT market.
Solana (SOL) faces significant risk as the broader cryptocurrency market rebounds from local lows, yet SOL struggles to break above the crucial $140 resistance level. This underperformance has raised concerns among investors, with many worried about Solana’s inability to keep up with the markets recent surge. Some analysts are even predicting a deep retrace to [...]
The post Solana (SOL) Could Crash 40% If It Stays Below $140 Top Analyst Shares Insights appeared first on Crypto Breaking News.
Bitcoin must hold above the $50,000 mark until the Sept. 18 Federal Reserve meeting to avoid more downside.
Xapo Bank enters the UK market and becomes the first in the country to launch interest-bearing Bitcoin and fiat banking accounts.
The popular AI chatbot warned that BTC could slump to the mid-$40,000 range.
Traders, whales, and ETFs are buying each major dip, but Bitcoin continues to lose momentum, calling the duration of the current bull market into question.
On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during [...]
The post XRP Whales Are Depositing To Exchanges: Price To Drop Further? appeared first on Crypto Breaking News.
Data shows the sentiment around XRP and Bitcoin is quite bullish currently, something that can actually be to the detriment of their prices. XRP & Bitcoin Among Coins Observing Positive Sentiment Right Now According to data from the analytics firm Santiment, the top cap cryptocurrencies are mainly observing the investors hold a bullish outlook. The indicator of interest here is the “Weighted Sentiment,” which basically tells us about the net sentiment around an asset that’s currently present on social media platforms. Related Reading: Bitcoin Makes Third Retest Of Historical Support, Analyst Sounds Alarm The “weighted” in its name comes from the fact that it weighs the sentiment present in the market (the Sentiment Balance) against the amount of discussion that’s happening on social media (the Social Volume). Because of this feature, this indicator’s value only registers a spike when not only is the crowd tending heavily towards one side as determined by Santiment’s machine-learning model, but also a large amount of posts/threads/messages exist on social media expressing such sentiment. The advantage of this adjustment is that the indicator is better able to portray what the actual situation in the market is like, as it doesn’t go by the opinion of only a few users (as would be the case in periods where traffic is low). Naturally, positive spikes in the Weighted Sentiment imply investors are bullish right now, while negative ones imply a bearish market. Values around zero suggest either there aren’t enough discussions happening on social media or the users as a whole are simply neutral. Now, here is a chart that shows the trend in this indicator for the five top assets in the sector, Bitcoin (BTC), Ethereum (ETH), BNB (BNB), XRP (XRP), and Solana (SOL), over the past few months: As displayed in the above graph, Bitcoin, XRP, Solana, and Ethereum, all have seen the Weighted Sentiment spike into positive territory recently, and these levels have so far persisted into the latest market downturn. This would imply that social media users hold a bullish sentiment around these coins right now. Bitcoin and XRP particularly stand out in terms of this, as the indicator for them is at the highest levels in 17 months and 14 months, respectively. Related Reading: Ethereum Seeing High Exchange Outflows, But Watch Out For This Bearish Signal BNB is the only cryptocurrency out of these that has the Weighted Sentiment in the negative territory, although the investors currently only hold a slightly fearful sentiment. This negative sentiment may actually play into the favor of BNB, however, as markets have historically been more probable to move in the opposite direction to what the crowd is expecting. Naturally, this means that the highly positive sentiment around Bitcoin and XRP could be bearish for their prices instead. XRP Price XRP has extended its drawdown during the past 24 hours with a drop of 6%, which has taken its price to $0.57. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Recent market activities for Avalanche (AVAX) indicate that the bears have gained control over the market, pushing the cryptocurrency toward a critical price target of $21.73. With the bears dominating and market sentiment leaning heavily toward further declines, the $21.73 level has become a key point of interest for market participants. This analysis delves into AVAX’s current bearish trend by examining key technical indicators such as Moving Averages and the Moving Average Convergence Divergence (MACD). Additionally, it highlights the significance of the $21.73 support level and its potential impact on AVAX’s price movement As of the time of writing, AVAX’s price has decreased by 4.67%, trading at approximately $23.75 over the past 24 hours. The cryptocurrency has a market capitalization of $9 billion and a trading volume of $331 million. AVAX’s market cap has declined by 6.37% in the past day, while its trading volume has increased by 15.60%. Analyzing Recent Price Trends And Performance Of AVAX Avalanche has shown significant bearish strength, with multiple bearish candlesticks forming below the 4-hour 100-day Simple Moving Average (SMA). This indicates bearish dominance and suggests continued downward pressure, potentially leading to further declines toward $21.75. Also, on the 4-hour chart, both the signal line and the MACD line of the Moving Average Convergence Divergence (MACD) are trending below the zero line and are currently attempting to move into the oversold zone. This supports the potential for continued downward movement in AVAX’s price. Technical analysis on the 1-day chart reveals that AVAX has been on a bearish trajectory toward a critical support level at $21.75, marked by the formation of multiple bearish candlesticks. Furthermore, the crypto asset’s price is trading below the 100-day SMA, suggesting a bearish market sentiment. Looking at the 1-day chart, it can be observed that the Signal line has crossed below the MACD line and both have recently dropped below the zero line, which implies a continued bearish trend and indicates the chance for further price declines. Significance Of The $21.73 Support Level Assessing the significance of the $21.73 support level suggests that: If AVAX reaches this level, it might break through or consolidate and retrace. A successful break below could lead to further price decline, potentially driving the asset toward the $18.83 support level and beyond. However, if the price consolidates and retraces upward upon reaching the $21.73 support level, it will begin to climb toward the $30.34 resistance point. Should the price break through this range, it could lead to further gains, testing a higher resistance level at $37.29 and potentially increasing bullish sentiment. Featured image from Adobe Stock, chart from Tradingview.com
Dogecoin (DOGE) recent attempt to regain upward momentum has been abruptly halted as bearish forces reassert their dominance. After a brief rally, the popular meme coin is now under renewed selling pressure, with the price set to retreat toward the $0.1 mark. As negative momentum strengthens, the question is whether Dogecoin can hold this critical level or if further declines are imminent. This article analyzes the recent shift in Dogecoins price dynamics as bearish momentum resurfaces. We will explore the sudden reversal, assess key technical indicators, and evaluate whether the $0.1 support level can withstand the pressure or if Dogecoin is poised for deeper decline. As of the time of writing, Dogecoin is trading at approximately $0.1059, reflecting a 3.42% decline. The cryptocurrency boasts a market capitalization exceeding $15 billion, with a trading volume surpassing $535 million. Over the past 24 hours, DOGEs market capitalization has seen a 3.57% decrease, while trading volume has dipped slightly by 0.83%. Market Sentiment: Bears Tighten Grip On Dogecoin On the 4-hour chart, Dogecoin has displayed strong downbeat momentum following its failure to break above the bearish trendline. The price is now attempting to fall below the 100-day Simple Moving Average (SMA). If DOGE successfully breaches this key level, it could begin a more pronounced downtrend, potentially driving the price down to the next crucial support at $0.0914. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 41%. This decline highlights growing bearish momentum and suggests that selling pressure could intensify. On the daily chart, Dogecoin shows significant negative movement below the 100-day SMA by printing two bearish momentum candlesticks. This bearish surge reflects strong selling pressure and negative market sentiment, increasing the likelihood of DOGE reaching the $0.0914 target soon. Finally, the 1-day RSI shows that bleak pressure on DOGE has returned. The signal lines upward attempt was cut short at 56% before falling below the 50% mark, now resting at 47%, intensifying selling pressure and a growing pessimistic sentiment for the digital asset. $0.0914 In Sight: Will This Key Support Level Hold? Exploring the significance of the $0.0914 support level and its potential to withstand bearish pressure reveals that if the price reaches this level and breaks below, the crypto asset will continue to move downward toward the $0.0745 support. Should the price fall through this level, it may drop to test the $0.0559 support mark and potentially move lower to explore additional support levels. However, if DOGE reaches the $0.0914 support range and bulls stage a comeback, the price could climb toward the $0.1293 resistance level. When it breaks through this resistance, the cryptocurrency may continue to rise, possibly targeting the $0.1491 resistance range and other higher levels. Featured image from iStock, chart from Tradingview.com
Following affirmative comments of an impending rate cut by US Federal Reserve Chairman Jerome Powell, Ethereum (ETH) alongside other crypto assets experienced a rapid price gain with the total crypto market cap rising by 6% on Friday. The price of Ethereum in particular moved upward by 6.38% to nearly breach the $2800 price mark. However, amidst this crypto market raving with bullish sentiments, the Ethereum Foundation (EF), a non-profit organization committed to supporting the Ethereum network, has offloaded a substantial amount of ETH. Related Reading: Ethereum Analyst: Bulls Must Hold $2,500, Spot ETF To Catalyze Demand Ethereum Foundation Executes Largest ETH Sale Of 2024 According to on-chain analytics firm, Spot on Chain, the EF, which is devoted to financing critical developments on the Ethereum network, has been selling small amounts of its holdings in the last few months culminating in 2516 ETH for $7.4 million DAI. On Friday, the Ethereum Foundation executed its largest sale transaction of 2024 depositing 35,000 ETH worth $93.8 million on the Kraken exchange. Generally, whale transactions of this size usually draw much attention as they are indicative of the market’s next likely movement. In particular, this latest transaction by the Ethereum Foundation has been highly speculative, due to the direct affiliation of the organization with the Ethereum network, with some ETH enthusiasts interpreting such a sale as a bearish signal. Notably, in the last few hours following the sale, ETH has experienced a slight decline of 1.3%. However, general market sentiment remains largely bullish with an anticipated rate cut by the Fed in September. Rate cuts, an inverse of rate hikes, mean lower interest rates which allow investors to acquire more volatile assets such as cryptocurrencies. Following Powells announcement on Friday, experts are predicting a rate cut of 30-50bps which could exert relatively positive effects on the crypto market including ETH. Moreover, the recent price surge may help reduce the effect of the immediate expiry of 140,000 ETH options. This is because the assets’ current price ($2750) is far above the max pain point of these options at $2625, i.e. maximum financial losses would occur if the time of option expiration occurred at this market price. Finally, the Ethereum Foundation still retains a large horde of 273,273.96 ETH valued at $754.76 million. Their most recent market transaction, while significant, does not indicate a lack of confidence in Ethereum. Related Reading: Bitcoin Poised for a 200% Rally as Analyst Spot Rare Bullish Pattern ETH Price Overview As earlier stated, Ethereum trades at $2750 following the price boost on Friday. However, long-term traders will be highly expectant of a sustained price rally, as the altcoin still lags by 20.48% on its monthly chart. Featured image from Investopedia, chart from Tradingview
An analyst has pointed out how Aave is currently forming a bearish pattern that led to significant drawdowns the last four times it occurred. Aave Is Showing A TD Sequential Sell Signal Right Now In a new post on X, analyst Ali Martinez has discussed about a Tom Demark (TD) Sequential signal that has taken [...]
The post Aave Forms Sell Signal That Led To 27% Average Correction Last 4 Times appeared first on Crypto Breaking News.
The month of August has been largely uneventful for Bitcoin so far, with the premier cryptocurrency having struggled to reclaim the $65,000 price mark since August 2. Currently, Bitcoin is slightly below $60,000 as the bulls and bears seek to grab control in what has been a range-bound market for the past week. Interestingly, CryptoQuant analyst XBTManager has shared revelations that indicate the BTC market is likely to maintain its current bearish form for the time being. Related Reading: Bitcoin Bears in Control? Record Low Funding Rates on Binance Signal Market Shift Wide Spot-Perpetual Gap Spells Trouble For Bitcoin On August 16, XBTManager reported that Bitcoins Spot-Perpetual Price Gap, as tracked on the Binance exchange, is continually in a negative form indicating that the asset may record more price loss due to a sustained selling pressure. For context, a Spot-Perpetual Price gap occurs when there is a difference between the valuation of Bitcoin on the spot market which deals with the assets actual price, and on the perpetual markets which allow traders to deal in speculations of the Bitcoins future price. When the perpetual price is lower than the spot price as in the current case of Bitcoin, it indicates traders are massively offloading the asset in the perpetual futures market as they believe there could be an incoming price fall. Expectedly, XBTManager predicts this negative spot-perpetual gap will translate into a heightened selling pressure in the spot market as several traders will look to sell their assets and buy in the perpetual market thus taking advantage of the arbitrage to gain some profit. In the advent of such a reaction, deep liquidation hunts might occur i.e. where a large number of leverage positions are forcefully closed down, leading to a larger negative Spot-Perpetual Gap, and increased selling activity. However, XBTManager has noted a potential positive for Bitcoin in this uncanny situation. The analyst states that high selling pressure will likely result in an accumulation of multiple short portions on Bitcoin. Therefore, the instance of a sudden price gain might force these positions to close leading to some significant buying activity that could reduce the current negative Spot-Perpetual Price gap. Related Reading: Bitcoin Still At Risk Of Further Correction, CryptoQuant Head Says BTC Price Overview At the time of writing, Bitcoin trades at $58,981 with a 2.28% gain in the past day. However, the tokens daily trading volume is down by 16.37% and is valued at $29.5 billion. On larger time frames, Bitcoin also remains in the red zone with a loss of 2.92% and 8.76% over the last seven and thirty days respectively. Featured image from The Economic Times, chart from Tradingview
The Head of Research at the on-chain analytics firm CryptoQuant has explained why Bitcoin may be at risk of seeing a further drawdown. Bitcoin Is Still On Verge Of Bear Market In This Indicator In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed the latest trend in the Bitcoin Bull-Bear Market Cycle Indicator. The “Bull-Bear Market Cycle Indicator” from CryptoQuant is an indicator based on the P&L Index. The P&L Index combines a few popular BTC metrics related to profit and loss, so it sums up the market balance in one value. This indicator can ascertain whether the asset is going through a bullish or bearish period by comparing it against its 365-day moving average (MA). Related Reading: Bitcoin Observes Pullback To $58,000: Is This The Cause? When the cryptocurrency breaks above its 365-day MA, it can be assumed to be inside a bull market. Similarly, falling under this MA implies a transition toward a bear market. The Bull-Bear Market Cycle Indicator, the actual metric of focus here, exists to make this pattern easier to follow; it keeps track of the distance between the P&L Index and its 365-day MA. Now, here is a chart that shows the trend in the Bitcoin Bull-Bear Market Cycle Indicator over the past couple of years: As displayed in the above graph, the Bitcoin Bull-Bear Market Cycle indicator had reached extreme values during the price all-time high (ATH) earlier in the year (colored in red). At these levels, the P&L Index has quite the gap over its 365-day MA, so the cryptocurrency’s bull rally has become overheated. The graph shows that the metric also gave this signal on a few other occasions during the past two years, and each time, the asset’s price reached the top. However, these previous tops weren’t enough to hold the market back in the long term, as the Bull-Bear Market Cycle Indicator continued to maintain inside the bull territory (shaded in orange), where the P&L Index is above its 365-day MA. Related Reading: This Is The On-Chain Level That Made The Bitcoin Crash Bottom However, bull market momentum has finally shown signs of running out, with the indicator even briefly plunging into the bear territory (light blue) during the recent price crash. While the metric has recovered back into the bull region with the surge that BTC’s price has observed, it’s still very close to the neutral mark, meaning it can potentially sink back into the bearish zone shortly. Based on this trend, Moreno notes that BTC could still risk seeing a further correction. BTC Price Bitcoin has seen its recovery stall recently, as its price is still trading around the $58,500 mark. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
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