Bitcoin’s range-bound action puts eyes on NEAR, AR, CORE and BONK

April 28, 2024 Coin Telegraph

Arweave

Bitcoin's range-bound price action could lead traders to focus on NEAR, AR, CORE and BONK.

Bitcoin (BTC) attempted to start a relief rally this week but met with intense selling pressure near $67,000. The largest cryptocurrency by market capitalization is on track to end the week with a minor loss of about 2%.

Popular trader and analyst Rekt Capital believes that Bitcoin has “entered the Post-Halving ‘Danger Zone’” where it could see a further dip within the next two weeks. Another negative in the near term is the net outflows from the spot Bitcoin exchange-traded funds. Farside Investors reported that the ETFs witnessed a net outflow of $218 million on April 25, after a $120 million outflow the previous day.

When the price trades in a large range, it is difficult to predict the direction of the breakout with certainty. Traders could buy near the support and sell at the resistance by keeping a suitable stop loss, or stay on the sidelines until a breakout happens.

SOS Ltd to jump on Bitcoin bandwagon with M purchase, stock pops 40%

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

Forbes lists XRP, ADA, LTC, ETC among top “zombie” tokens

April 27, 2024 The Crypto Briefing

Crypto Briefing

Forbes unveils 20 "zombie" crypto tokens like XRP, ADA, ETC, LTC with high market values but lacking in utility and adoption.

The post Forbes lists XRP, ADA, LTC, ETC among top “zombie” tokens appeared first on Crypto Briefing.

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

Price analysis 4/26: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

April 26, 2024 Coin Telegraph

Avalanche

Bitcoin and altcoins could be en route to retest their recent strong support levels as bears try to extend the correction.

Bitcoin (BTC) continues to trade inside a large range, suggesting indecision about the next trending move. Analysts trying to predict the direction are enthused by the $1.3 billion of USD Coin (USDC) transferred to Coinbase by whale addresses. Expectations are that the funds will be used to buy Bitcoin and Ether (ETH).

Large investors are not only buying the top two coins by market capitalization. CoinShares head of research James Butterfill said in a recent report based on a survey of 64 institutional investors that 15% of the respondents had invested in Solana (SOL). In comparison, none of the investors held Solana in the firm’s January survey.

Morgan Creek Capital CEO Mark Yusko said in a recent interview with The Wolf Of All Streets podcast that about $300 billion of baby boomers’ wealth is likely to enter into digital assets within 12 months. This inflow could boost the cryptocurrency market capitalization to $6 trillion.

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

Insights from Token2049: How crypto wealth is made

April 26, 2024 Coin Telegraph

Bitcoin Price

Attendees at Token 2049 in Dubai shared their personal stories on how they became rich.

Crypto conferences are hotspots for people who accumulated vast wealth by taking advantage of the rapid growth of digital assets. At Token2049 in Dubai, United Arab Emirates, Cointelegraph's Bradley Peak caught up with attendees to uncover the secrets behind their wealth.

The stories he heard were as diverse as the people themselves. Some were lucky or smart enough to invest in Bitcoin (BTC) early on, riding its surge and cashing out at the right moment. Others proudly declared themselves as "diamond hands," holding onto their Bitcoin through thick and thin, reaping the benefits as its value soared.

In the crowd were savvy traders who navigated the complexities of financial instruments like options and futures contracts, turning their expertise into profits. And then there were the fintech entrepreneurs who had built successful ventures within the crypto space, now enjoying the rewards of their hard work.

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

Bitcoin chart bull flag is a ‘strong bullish setup’ — Analyst

April 26, 2024 Coin Telegraph

Bitcoin Price

Bull flags are historically associated with more upside momentum, but Bitcoin price could still use a catalyst before rallying to new highs.

Bitcoin (BTC) printed a bull flag on the daily chart, a technical chart pattern associated with strong upward momentum for the asset. Could it signal the start of the post-halving bull run?

Bitcoin printed a bull flag pattern on the daily chart on April 26, according to an X (formerly Twitter) post by popular crypto analyst Mikybull, who wrote:

The current chart formation is “a strong bullish setup,” according to Denis Baca, financial analyst and head of product at Zivoe. Baca told Cointelegraph:

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

Solana sees ‘dramatic increase’ in Institutional demand — CoinShares

April 26, 2024 The Crypto Briefing

Crypto Briefing

A recent survey shows Solana leading a rise in institutional demand for altcoins, with a dramatic increase in allocations to SOL.

The post Solana sees ‘dramatic increase’ in Institutional demand — CoinShares appeared first on Crypto Briefing.

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

Bitcoin’s funding rate flattens, but should BTC bulls rejoice and buy the dips?

April 25, 2024 Coin Telegraph

Coin Telegraph

Bitcoin bulls tend to celebrate when BTC’s funding rate is negative, but is it really a “generational buying opportunity?”

The demand for leveraged buyers using Bitcoin (BTC) perpetual futures has dropped to its lowest levels in over six months, a trend some analysts consider extremely bullish. However, the BTC futures funding rate, which measures the demand between longs (buyers) and shorts (sellers), is greatly influenced by past performance, as historical data indicates.

Let’s dig in to whether or not Bitcoin’s flat funding rate is a sign of a buying opportunity.

Bitcoin’s funding rate fee is implemented by exchanges to manage the use of leverage since every trade involving perpetual contracts requires a buyer and a seller of equal size. When buyers are more aggressive, the funding rate becomes positive, indicating that they are paying for the use of leverage. Essentially, one side compensates the other, ensuring the exchange does not hold exposure risk.

SOS Ltd to jump on Bitcoin bandwagon with $50M purchase, stock pops 40%

‘Persistent inflation’ will be key in Bitcoin’s run to $200K — Crypto fund manager

April 25, 2024 Coin Telegraph

‘Persistent inflation’ will be key in Bitcoin’s run to 0K — Crypto fund manager

Bitcoin Price

“Unsustainable budget deficits” and “persistent inflation” have HashKey Capital analysts predicting a $100,000 to $200,000 Bitcoin price by the end of 2024.

Bitcoin (BTC) price has surged throughout 2024, fueled by the launch of several spot BTC ETFs and the asset’s fundamental role as a store of value.

The interest in BTC is expected to persist, particularly as the United States government's continued high spending and interest rate policy discussions prevail, suggests Grayscale's research director Zach Pandl.

“We expect persistent inflation and unsustainable budget deficits to contribute to continued demand for a store of value assets, like Bitcoin,” Pandl told Cointelegraph.