Bitcoin Price Rebounds, But Could the Downtrend Return?

Bitcoin price remained supported near the $52,500 zone. BTC is recovering losses and facing hurdles near the $55,200 and $55,500 levels. Bitcoin is struggling to recover above the $55,500 zone. The price is trading below $55,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $55,200 [...]

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Crypto Research Firm Identifies Why The Bitcoin Price Could Crash To $45,000

10x Research, a digital asset research platform for traders and institutions, has unveiled a foreboding forecast for the price of Bitcoin (BTC). Highlighting current market conditions and Bitcoins recent price dynamics, the research firm projects a massive price crash to $45,000 soon. Bitcoin $45,000 Price Crash Incoming 10x Research has released a report outlining several market [...]

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Tether Ventures into Agriculture with $100M Investment in South Americas Adecoagro

By acquiring a stake in Adecoagro, Tether is signaling a strategic shift from its tech-focused investments.

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Bitcoin Support Retests Reflect September 2023 Patterns: Is Another Bull Run Coming?

Bitcoin has faced significant price fluctuations marked by a notable crash on August 5 that saw its value dip to $49,000. This was followed by a rebound to approximately $65,000, only to experience another decline to around $52,000 last Friday.  Despite these challenges, the largest cryptocurrency by market capitalization is undergoing crucial support retests, reminiscent [...]

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Bitcoin Leveraged Positions Building Up: BTC To $50,000 Or $60,000?

Bitcoin is firm at spot rates, looking at the development in the daily chart. Even so, the downtrend remains, and price action remains within a bearish breakout formation. This outlook follows the dump on September 7 that saw the world’s most valuable coin plunge, approaching the all-important round number, $50,000. Bitcoin Leveraged Positions Building Up Technically, the downtrend remains, especially if bulls can’t unwind the losses of September 7. From an effort-versus-result perspective, the trend set in motion by September 7 will shape the short-term, possibly accelerating the fall below August lows. Related Reading: FET Teeters At Trendline: Will A Breakout Fuel A Run To $1.86? Amid this development, one on-chain analyst notes that there has been a massive accumulation of leveraged positions from March 2024. Though it remains uncertain which direction prices will move, the current state of affairs means sellers have the upper hand. If bulls take over, this would be a massive sentiment boost for BTC bulls, who have had to contend with sharp losses over the past three months. Regardless of the direction, this build-up in leverage position precedes a period of heightened volatility in the coming days. While Bitcoin trends lower, sentiment has taken a hit, explaining the shrinking trading volume over the past two weeks. Since late August, BTC has fallen from around $66,000, losing nearly 20% by last week’s lows.   At the same time, volatility is comparatively low and not unlike the state of affairs when BTC turned the corner, sharply expanding from late February before printing fresh all-time highs in mid-March 2024. Average Funding Rate Is Bullish, Will This Change? Interestingly, despite the lower lows, trading data shows that the average funding rate across derivatives exchanges has remained bullish for over a year. This development could be due to the shift in price action that saw the world’s most valuable coin turn the corner, rising from late Q3 2023. The recovery saw BTC shake off weakness and explode to above $70,000 after losses in 2022 that took the coin to as low as $15,800. Related Reading: Bitcoin Rainbow Chart Forecasts An End To Bearish Headwinds With $60,000+ Target For bulls to dominate in the derivatives market, prices must recover steadily. A break above $66,000 and July highs would likely spur demand, lifting the coin above the multi-month resistance at $72,000. Nonetheless, for this to happen, there must be inflows to spot Bitcoin ETFs. Falling prices have accelerated outflows from this product, meaning institutions are playing safe. So far, SosoValue shows outflows of over $169 million for spot Bitcoin ETF issuers in the United States. Feature image from DALLE, chart from Trading View

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Bitcoin Price Reclaims $54K Level, SUI Explodes 11% Daily (Weekend Watch)

Aside from SUI, the other notable gainers from the larger-cap alts include AVAX and XMR.

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We Asked ChatGPT if Bitcoin (BTC) Can Hit $100K if the US Fed Lowers Interest Rates

"BTC could potentially hit $100,000 if the Federal Reserve drops interest rates, but this outcome depends on several other factors, ChatGPT stated.

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Litecoin Whales On The Move Can They Drive LTC Price Back To $75?

The latest on-chain data shows that Litecoin (LTC) whales have been increasingly active in the market in recent weeks. The question is can they push the altcoins price comeback? Litecoin Whale Activity Ignites In a new post on the X platform, on-chain analytics firm Santiment revealed a sustained increase in whale activity on Litecoin. [...]

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Traders Move $4.7 Billion To Stablecoins Amid Crypto Market Uncertainty Details

The crypto market is experiencing a notable shift in liquidity as investors acquire massive amounts of stablecoins due to market uncertainties in the last few months. CryptoQuant analyst with username Percival has provided more insights into this trend of capital rotation. Open Interest In Crypto Market Shrinks As Stablecoins See Liquidity Influx Following a rather [...]

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These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)

DOGE is among the poorest performers now.

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PEPE Faces Key Support Test At $0.00000589 Will Bulls Hold The Line?

PEPE is facing intense bearish pressure, with its price trending downward toward a critical support level at $0.00000589. Recent market actions have shown that the bears are firmly in control, pushing the token closer to this key threshold. As sellers continue to dominate, the question is whether the bulls can step in to defend this level or if PEPE is set for further declines.  This article will analyze PEPE’s recent price action as it nears the critical support level at $0.00000589 by examining key technical indicators and market dynamics. It will explore whether the bulls can mount a defense to prevent further losses or if the bears will drive the token lower, aiming to provide a potential future outlook for the cryptocurrency. With a market capitalization exceeding $2.8 billion and a trading volume surpassing $602 million, PEPE was trading at approximately $0.000006683, reflecting a 6.47% decrease at the time of writing. In the past 24 hours, its market cap has dropped by 6,47%, while trading volume has increased by 74.80%. Current Market Sentiment: Bearish Signals Dominate On the 4-hour chart, although PEPE is attempting to move upward, it has maintained its downward trajectory after successfully breaking below the $0.00000766 level, continuing to trade below the 100-day Simple Moving Average (SMA). The asset is moving closer to the $0.00000589 support level, with negative market sentiment persisting. Also, the Relative Strength Index (RSI) on the 4-hour chart is currently at 31%, indicating that PEPE is in the oversold zone. This level suggests that selling pressure has been strong, potentially hinting at a short-term rebound or consolidation if the bears do not maintain dominance. On the daily chart, PEPE has shown significant bearish momentum since breaking below the $0.00000766 level and trading under the 100-day SMA. While the cryptocurrency is currently attempting an upward move, this rebound could be short-lived due to the prevailing bearish sentiment, which continues to exert pressure on the price. Finally, the RSI signal line on the 1-day chart is currently sitting at 36% as it continues to trend below the 50% threshold, suggesting that PEPE remains under bearish pressure, with the potential for bears to regain control and push the price lower. Whats Next For PEPE: Outlook For The Coming Days The current bearish trend, marked by negative momentum indicators, suggests that the bears could drive the price of PEPE to the $0.00000589 support level. If this support is broken, it could trigger further bearish action, potentially pushing the asset down to the $0.00000398 support level and possibly lower. However, if PEPE bounces back at the $0.00000589 support, it could retrace towards the resistance level at $0.00000766. Should the crypto asset break above this level, it could signal a further upward movement, possibly targeting the $0.00001152 resistance range and other higher levels. Featured image from iStock, chart from Tradingview.com

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Bitcoin Flashes On-Chain Signal That Triggered A 175% Rally The Last Time

A crypto analyst has revealed that the price of Bitcoin might be gearing for a fresh rally after the appearance of a bullish on-chain signal. Bitcoin UTXOs In Profit At Lowest Level Since 2023 Heres Why In a QuickTake post on the CryptoQuant platform, an analyst with the pseudonym EgyHash shared an interesting on-chain insight into the Bitcoin price. This on-chain observation revolves around the Bitcoin UTXO (unspent transaction output) metric, which tracks the amount of cryptocurrency that remains following the execution of a transaction. Related Reading: Heres How Cardano Price Will Survive A US Recession: Crypto Analyst The percentage of these unspent cryptocurrencies in profit gives an insight into the market’s current condition. For instance, an increase in Bitcoin UTXOs in profit suggests that most investors are in the green, which can either motivate them to keep faith in the coin or, in some scenarios, push them to take profit. On the other hand, when a higher percentage of UTXOs are in loss, it means that more investors are holding a loss, suggesting a negative market sentiment. According to the CryptoQuant analyst, the percentage of Bitcoin UTXOs in profit has steadily declined, recently falling to its lowest level since October 2023. Data from CryptoQuant shows that the proportion of Bitcoin UTXOs in profit decreased from 99% in June 2024 to 68.5% in September 2024. Interestingly, this market phenomenon has coincided with a recent fall in the price of Bitcoin. The crypto analyst noted that the decline in Bitcoins price seems to be associated with profit-taking, as investors are selling their coins to realize some gain. Meanwhile, this is supported by the aforementioned decline in the percentage of Bitcoin UTXOs in profit. Nevertheless, it may not be all bad news for the premier cryptocurrency with the UTXO metric currently at a multi-month low. Historical data shows that the proportion of BTC UTXOs in profit being at its current level could be a signal of a market bottom. The last time the Bitcoin UTXOs in profit slumped to 68.5%, the price of Bitcoin rallied 175% from $26,700 to a new all-time high of $73,737. While there is no guarantee there will be a repeat rally from the current point, investors might still want to pay attention to other relevant on-chain metrics. BTC Price At A Glance As of this writing, the price of Bitcoin is slightly under the $54,000 level, reflecting a 4.1% decline in the past 24 hours. According to data from CoinGecko, the flagship cryptocurrency is down by more than 9% in the past week. Related Reading: Solana To $100 Inevitable After This Break? SOL Forms A Triple Bottom Featured image from iStock, chart from TradingView

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Bitcoin Risks Crashing Below $50,000 This Weekend As Sentiment Turns To Extreme Fear

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Ethereum Enters Oversold Territory, Can The Pump Send It To $6,000?

Recent developments show that Ethereum has entered oversold territory. This is undoubtedly a bullish development for the second-largest crypto by market cap, as it looks set for a price rally that could send it as high as $6,000.  ETH Ready For Liftoff Having Entered Oversold Territory Crypto analyst Titan of Crypto suggested in an X [...]

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Bitcoin Investors Quiver As Accumulation Trend Nears Zero

September has started with significant losses for the Bitcoin market after a price decline of 9.16% occurred in the last week based on data from CoinMarketCap. During this period, the price of the largest cryptocurrency has dipped below $53,000 reaching a price low last seen in early August. Interestingly, despite Bitcoin’s low prices, investors are [...]

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Crypto Analyst Says Its September 2016 For Bitcoin Again, What This Means

Crypto analyst CryptoCon stated in his recent market analysis that the Bitcoin current price action is reminiscent of December 2016. He further explained what he meant and provided insights into what to expect from the flagship crypto going forward.   It Is September 2016 All Over Again For Bitcoin CryptoCon mentioned in an X (formerly Twitter) post that it is September 2016 again for Bitcoin. In line with this, he remarked that the Bitcoin trend strength prophecy has been fulfilled. He explained that just like in September 2016, Bitcoin has dipped into the support zone after the mid-top.  Related Reading: Dogecoin Moving Averages Say Accumulation Has Ended, Heres Where Price Is Headed Next To further support his stance that the flagship crypto is mirroring past trends, he noted that all months had been the same for support zone entries for alternating cycles. He also asserted that the pattern of 3s has not failed yet, both in the mid-cycle or bear market. His accompanying chart showed that Bitcoin is currently at the last part of its reaccumulation zone, just before it hits a cycle top, just like in the 2016 market cycle.  Following his analysis, CryptoCon boldly stated that the cycle is not over, providing belief that Bitcoin will still hit new highs and surpass its current all-time high (ATH) of $73,000, which it hit in March earlier this year. Before now, the crypto analyst assured that Bitcoins price dips are just a minor setback and that the crypto will still rise to as high as $160,000 at the peak of this bull run. CryptoCon also noted how Bitcoin experienced such choppy and boring periods in previous halving cycles just before reaching new ATHs the following year after the halving event. The crypto analyst had previously predicted that the cycle top would come sometime in November 2025. This projection is also based on Bitcoins price action in previous halving cycles.  More Hope For BTC Investors Crypto analyst Mikybull Crypto also recently gave Bitcoin investors hope that the worst was almost over for the flagship crypto. In an X post, he stated that a Bitcoin parabolic rally is looming as DXY is about to break down from the macro bear flag. The analyst also noted that the same scenario occurred in 2017 and 2020.  Related Reading: Shiba Inu Recovery To $0.000081 ATH Levels Still In Play In another X post, Mikybull Crypto stated that Bitcoins next expansion will raise its price to $95,000. He added that Bitcoin is displaying a bull flag while the DXY is on a bear flag on a macro chart. However, the crypto analyst is confident that macro disbelief and fear are ending, with Bitcoin set to enjoy its parabolic run when that happens.  At the time of writing, Bitcoin is trading at around $56,300, down in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Solana To $100 Inevitable After This Break? SOL Forms A Triple Bottom

Like Bitcoin and other top altcoins, Solana continues to sell off at press time, rewinding losses of the first part of the year. At press time, SOL, the native currency of the smart contracts platform, is trading at around $130, retesting a critical support level. As it is, the third-most valuable crypto asset is down nearly 40% from 2024 highs of around $210. Technically, sellers are in control, and unless there is a sharp shift in trend favoring buyers, the short-term will continue to be bearish. Is SOL Preparing For $100? Triple Bottom Forms Though some analysts are upbeat, expecting a rebound toward the $200 zone in the coming days and weeks, others are bearish. Taking to X, one analyst said SOL, in line with the current state of price action, thinks the coin will slip to as low as $100. Related Reading: Bitcoin Momentum Indicators Are All Showing Death Cross: Say Hello To Bear Market? This outlook, it should be noted, follows the recent drop from a key resistance, previously supported, level at around $140. With the coin changing hands at $130, the analyst is convinced there will be more losses in a bear trend continuation pattern. From his outlook, SOL will trickle lower “if nothing changes” in the market. The forecast, looking at the candlestick formation in the daily chart, isn’t surprising. As mentioned earlier, SOL is down by nearly 40%% from March highs. With prices consolidating and moving inside a wide range of between $210 on the upper end and $130 on the lower end, this prediction aligns with recent price movement. Presently, SOL is now retesting multi-month support as a triple bottom form. For the printout of the uptrend from October 2023 to March 2024, SOL must find support around spot rates. Subsequent gains above $140 and $160 could spark demand, lifting the coin toward $190 and, finally, $210 or 2024 highs. Solana Dumps, Bitcoin Sell-Off And Pump.fun Liquidation Impact Sentiment Even so, the leg up will depend on a multitude of factors. A recovery in Bitcoin prices would almost likely lift altcoins, of which SOL is highly ranked. Besides this, the resurgence of meme coin activity on Solana will be a big price movement. Related Reading: Cardano Bull Sees ADA Jumping 1,000% In An Insane Rally Lookonchain data shows that Pump.fun, a meme coin launchpad on Solana, has been liquidating SOL. Being a large holder, their action is net-negative, impacting sentiment and helps sow doubt on the strength of buyers. As a SOL whale, the more they sell, the more retailers dump, following in their path. By September 3, the meme coin launchpad had sold over 264,000 SOL worth more than $1.3 million. Feature image from Shutterstock, chart from TradingView

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Heres How Cardano Price Will Survive A US Recession: Crypto Analyst

In a new video analysis, popular crypto analyst Dan Gambardello delved into the potential future of the Cardano (ADA) price amidst the troubling forecasts of a US recession. With a significant following of 369,000 on YouTube, Gambardello highlighted the general unease among ADA holders and general crypto investors due to the ongoing economic discourse surrounding a potential recession. Will Cardano Bottom In December? He drew parallels between historical S&P 500 behavior and current market conditions, noting, “On average the S&P 500 bottoms three months after a recession begins, but 10 months before the recession ends.” This observation is crucial as it sets a potential timeframe for when investors might expect the crypto market, including ADA, to bottom out. I give it a 50/50 odds that we’re in a recession now. Check this out. The Fed has signaled that September interest rate cut is coming all but two times in history when the Fed has started to cut rates, a recession followed, Gambardello suggested and explained that recession starts are usually only declared to have started once they have already begun. He further explained that the prevalent discussion about the US already being in a recession could impact investment strategies. According to Gambardello, if history repeats itself, the market could see its lowest point in December 2024. He based this on a detailed look back at market downturns since 1957, which typically show significant movements three months following the onset of a recession. Related Reading: Stunning Fall From Grace: Cardano Suffers 90% Plunge In Market Share Since 21 I just think whenever the bottom will be in, it is going to be explosive […] oftentimes [they declare] it 10 months later and they’re like hey, you know what, the recession started 10 months ago. Nobody, there’s no exact science to when it starts, not like a set date but 3 months after it, the bottom is in for markets, the crypto analyst noted. Gambardello then addressed the Federal Reserve’s signals about upcoming interest rate cuts, which historically have been followed by recessions. This pattern adds another layer to the already complex market analysis, suggesting that a recession might indeed be imminent or already underway. “All but two times in history when the Fed has started to cut rates, a recession followed,” he remarked, highlighting the gravity of the current economic signals. Shifting focus to Cardano, Gambardello juxtaposed ADA’s current market performance against its historical data. He pointed out that, similar to previous cycles, ADA is currently down by 89% from its peak, closely mirroring its past downturns where it was down by 94% at similar points. Related Reading: Crypto Analyst Explains Why Cardano Remains Fundamentally Bullish Were down 89%. So put it all aside, Cardano is not doing anything different than it did last cycle. And the one thing I did notice though was from this 2018 high to when Ada made its way to where we are right now is, that was around 992 days after that all-time high. This time around and this is why I think it feels a little bit more painful for Cardano holders this time around, we’re looking at almost 1,100 days from all-time high to this moment right so it’s been very grueling, Gambardello stated. Moreover, he analyzed Bitcoin’s influence on altcoins like Cardano. He discussed the potential for an ‘altcoin season,’ a period when altcoins typically surge if Bitcoin’s market dominance begins to wane. According to his analysis, such a season isn’t currently in play but could be on the horizon, correlating with his predicted market bottom in December. Most altcoins, especially the blue chips, especially the top altcoins, are going to fly when market bottoms and crypto bounces, Gambardello said. Concluding his analysis, Gambardello adopted a cautiously optimistic tone. He acknowledged the uncertainties inherent in predicting crypto markets but underscored the importance of historical patterns and current economic indicators in formulating investment strategies. He advised his viewers to stay vigilant, keep an eye on market data, and be prepared for more potential downside, but also be ready for an explosive growth period that has historically followed recessions. At press time, ADA traded at $0.3218. Featured image from Shutterstock, chart from TradingView.com

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Shiba Inu Recovery To $0.000081 ATH Levels Still In Play

Meme coin Shiba Inu now finds itself trading between a narrow range of $0.000013 on the support side and $0.00001370 on the resistance side in the past 48 hours. This consolidation price action has emerged after a decline that saw SHIB fall from $0.00001600 in the last week of August. This notable decline has culminated with SHIB bouncing off support at $0.000013, which coincides with the 0.618 level on the Fibonacci extension indicator within a bearish trend that has persisted since April. While Shiba Inu has continued to battle this larger bearish trend on the monthly timeframes, crypto analysts are confident of a SHIB break to the upside. According to several technical experts, the fact that SHIB has maintained support at this crucial level without breaking lower is seen as a sign of resilience. Particularly, crypto analyst Javon Marks is confident of a SHIB recovery back to 2024 highs, especially as the meme coin has confirmed multiple bullish patterns with the RSI indicator. SHIB Recovery Still In Play Javon Marks’ analysis was noted in a social media post on X as an update to an ongoing SHIB analysis that dates back to September 2023. One of the key technical signals contributing to the analyst’s optimism is the Relative Strength Index (RSI), which has shown signs of bullish divergence.  Related Reading: Litecoin Looks Poised To Explode As Grayscale Buys 10,000 LTC The RSI is a momentum indicator that measures the strength and speed of price movements. In SHIB’s case, the RSI, which has fallen massively from an overbought zone in April, recently retested its lowest point in the first quarter of 2024. According to Marks’, this retest is bullish for SHIB and is a massive sign for the resumption of overbought momentum. This momentum, in turn, would see SHIB rallying over 231% from the current price level to retest its $0.00003629. With the attainment of a new yearly high, this would open the doors for a continued rally close to SHIB’s all-time high. Looking ahead, Marks remains steadfast in his long-term target for SHIB, which he initially outlined in his first technical analysis back in September 2023. According to him, “the $0.000081 target is still in play.”  The $0.000081 price point has been a central focus of Marks analysis since his initial coverage of SHIBs price analysis. To get to this price, SHIB would need to perform a 480% increase from the current price level. Current State Of Shiba Inu At the time of writing, SHIB is trading at $0.0000132. SHIB continues to steadily attract investor interest, with whale activity recently seeing a drastic increase. According to analysts at Santiment, the interest surrounding meme coins, including SHIB, has been really quiet in the past few weeks. Related Reading: Bitcoin Forecast: BTC Price Could Crack $50,000 If This Important Level Does Not Hold Santiment analysts believe that the low levels of activity and reduced market excitement could be signs that SHIB is approaching a bottom and laying the groundwork for a potential rebound. Featured image created with Dall.E, chart from Tradingview.com

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MATIC Slides Deeper: Will It Break The $0.3132 Barrier?

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 [...]

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