Demand for XRP is bouncing back on digital asset exchanges, according to crypto analytics firm Kaiko. After a long, drawn-out lawsuit with the U.S. Securities and Exchange Commission (SEC) that ultimately ended in the ruling that XRP sold on exchanges does not constitute a security, Kaiko says demand for XRP is back. “Since last year’s […]
The post Demand for XRP on Crypto Exchanges Rebounds to Pre-Lawsuit Levels: Kaiko Analytics appeared first on The Daily Hodl.
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
Bitcoin (BTC) fell below the psychological level of $50,000 on Aug. 5 as panic gripped traders following the crash in the Japanese stock market. Coinglass data shows $1.08 billion in liquidations in leveraged positions or collateral trades.
Will the correction deepen, or is it time for a relief rally to begin? That is a big question for traders. Popular analyst Rekt Capital said in a post on X that Bitcoin’s “downside deviation” could last for about two months.
Some analysts believe the correction could deepen further. FXPro senior market analyst Alex Kuptsikevich told Cointelegraph that Bitcoin’s selling could sink it to $42,000.
A prominent analytics firm says crypto traders are not rushing to accumulate the latest Bitcoin (BTC) correction. Santiment says on the social media platform X the crypto crowd is not opening their wallets to gobble up the marketwide dip. “With this dip being roughly on par with the one we saw in early July, the […]
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Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.
Bitcoin (BTC) is in a free fall, breaking below the psychological $60,000 support on Aug. 4. Bitcoin came under intense selling pressure this week as traders reduced risk following the roughly 6% plunge in the Japanese stock market, Nikkei, on Aug. 2. The weaker than expected July jobs report on Aug. 2 did not help matters and the Nasdaq Composite fell into the correction territory, down more than 10% from its record high.
Even after the recent fall, Bitcoin remains stuck inside a large range. Although it is difficult to predict the direction of the breakout from a range, Bitcoin whales remain bullish. Whale addresses holding over 1,000 Bitcoin have added 84,000 Bitcoin in July. Also, nearly 64,000 Bitcoin left whale exchange balances in the past 30 days, the most since 2015, according to the whale net position change metric by Glassnode.
Bitcoin’s weakness has pulled several altcoins lower, indicating that the buyers are staying on the sidelines. However, as Bitcoin drops closer to the bottom of its range, buyers are likely to step in. That is expected to start a bounce in select altcoins.
Seasoned trader Peter Brandt thinks one top-10 altcoin is flashing a massive bearish signal against Bitcoin (BTC). Brandt tells his 732,800 followers on the social media platform X that payments network XRP could be forming a head and shoulders (H&S) pattern against Bitcoin (XRP/BTC) on the weekly chart. A head and shoulders pattern is typically […]
The post Veteran Trader Peter Brandt Says Top-10 Altcoin Flashing Major Bearish Signal, Outlines Path Forward for Bitcoin appeared first on The Daily Hodl.
A closely followed crypto analyst says that one prominent Ethereum (ETH) competitor is gearing up to spark a rally. In a new strategy session, crypto trader Ali Martinez tells his 68,700 followers on the social media platform X that smart contract platform Solana (SOL) could be forming a bullish pattern on its four-hour chart that […]
The post Large-Cap Ethereum Rival Forming a Bullish Pattern That Could See It Surge by up to 63%, Says Crypto Trader appeared first on The Daily Hodl.
A widely followed cryptocurrency analyst is issuing a warning on a leading memecoin while outlining the path forward for Ethereum (ETH) and XRP. The analyst pseudonymously known as Credible Crypto tells his 405,000 followers on the social media platform X that the memecoin Pepe (PEPE) has held up “quite well” amid a wider market downturn. […]
The post Crypto Analyst Says Large-Cap Memecoin Primed for a Massive Plunge, Updates Outlook on Ethereum and XRP appeared first on The Daily Hodl.
One widely followed crypto analyst says the native token of the XRP Ledger (XRPL) is on the verge of a rally. Crypto trader Ali Martinez tells his 68,700 followers on the social media platform X that XRP just needs to break through $0.90. “XRP has been consolidating within a symmetrical triangle for six years! A […]
The post Analyst Says XRP on Cusp of Bullish Breakout if It Can Break Through This Major Resistance Level appeared first on The Daily Hodl.
The cryptocurrency market experienced a downturn on Tuesday, decreasing by 1.94% against the U.S. dollar, lowering the total market value to $2.38 trillion. Leading cryptocurrencies, including bitcoin, solana, binance coin, dogecoin, and cardano, faced losses. In contrast, ethereum, xrp, and toncoin achieved modest gains. Crypto Market Dips, Long Positions Lead to $134.65M in Liquidations Bitcoin […]
Bitcoin remains on target to reach $70,000, and if that happens, XRP, KAS, STX and JASMY could find buyers.
Bitcoin (BTC) has recovered sharply from the intra-week lows, indicating a positive sentiment where dips are being purchased. Market analytics firm Santiment said in a X post that the ratio of positive comments to negative comments toward Bitcoin has reached its highest level since March 2023.
While the short-term traders are focusing on a new all-time high for Bitcoin, the long-term investors are projecting uber-bullish targets for Bitcoin. SkyBridge Capital founder Anthony Scaramucci said during the Bitcoin 2024 conference in Nashville, Tennessee, that Bitcoin’s market capitalization will probably overtake the total market capitalization of gold. Bitcoin’s market capitalization is roughly $1.3 trillion, while gold is between $15 trillion-$16 trillion.
Bitcoin’s bullishness did not rub off on Ether (ETH), which is down more than 7% this week. The negative sentiment in Ether is largely due to the net outflows of about $342 million from the Ether exchange-traded funds, per data from SoSo Value.
