Author: Sollcrypto
Cardano has experienced a significant decline to the $0.4 range, resulting in a decrease of over 20%. Despite this downturn, there are indications of a potential rally toward the 200 EMA, presenting a challenge to the prevailing downtrend with relatively low volatility and subdued trading volume. The price movement of Cardano has been turbulent, marked by a recent drop to the $0.4 support level followed by a subsequent rebound. As of the current writing, ADA has surged above $0.48, sparking renewed interest and investment inflows into the market. It’s worth noting that the recent decline hasn’t impacted the coin’s longer-term…
During the weekend, the Bitcoin (BTC) crash kept the crypto community on edge. As the price dipped to $60,000, numerous investors feared for the flagship cryptocurrency’s stability prior to the upcoming “Halving” event. In the midst of this correction, Bitcoin skeptic Peter Schiff asserted the accuracy of his past forecasts concerning spot Bitcoin ETFs (exchange-traded funds), hinting at a potential downturn for BTC. Peter Schiff’s Apocalyptic Forecast for Bitcoin In March, prominent Bitcoin critic Peter Schiff highlighted what he perceived as a flaw in Bitcoin ETFs. The economist argued that the issue with owning these investment vehicles was their limited…
The much-anticipated Dencun fork, rolled out on March 13th, has significantly accelerated the adoption of Layer 2 solutions within the Ethereum ecosystem. This surge in adoption became evident through a notable increase in activity following the upgrade. In its latest analysis, Intotheblock observed a corresponding uptick in transactions on Ethereum’s Layer 2 solutions post the Dencun upgrade. The data revealed an impressive 196% surge in transactions processed across leading Layer 2 platforms, totaling 5.67 million transactions. Notably, Base emerged as the frontrunner, facilitating around 57% of these transactions. Close behind are Arbitrum and Optimism, handling 31% and 11% respectively. This…
Bitcoin’s price maintains its gains above the $69,200 mark, with potential for bullish momentum if it surpasses resistance levels at $70,800 and $71,250. Currently, BTC is striving for an uptick beyond the $70,000 threshold, trading above both that mark and the 100-hourly Simple Moving Average. On the hourly chart of the BTC/USD pair from Kraken, a bearish trend line is taking shape, presenting resistance around $70,800. The pair’s bullish prospects increase upon breaking through the $71,250 resistance zone. Bitcoin’s price is poised for another upward surge. Bitcoin’s price made an attempt to climb higher above the $70,500 mark. Yet, BTC…
With the cryptocurrency industry eagerly awaiting the next halving, market analysts and investors are closely monitoring its potential effects on Bitcoin’s price. Scheduled for April 20, the halving entails a programmed reduction in the rewards miners receive, slashing the reward from 6.25 BTC to 3.125 BTC. Consequently, this event will halve Bitcoin’s inflation rate from 1.7% to 0.85% annually. Bitcoin maintains its bullish stance ahead of the upcoming halving. Historically, Bitcoin halvings have been linked to short-term volatility but long-term bullish trends. Vincent Maliepaard, Marketing Director at IntoTheBlock, explained to BeInCrypto that both the 2016 and 2020 halvings witnessed Bitcoin…
Bitcoin’s price discovered stability around $67,500 before embarking on a new uptrend, potentially leading it to reapproach the $72,500 resistance area in the short term. Bitcoin revisited the $67,500 support region before initiating a renewed uptrend.It currently trades above $70,000 and the 100-hourly Simple Moving Average.A significant bullish development occurred with the break above a crucial bearish trend line, which had resistance around $69,600, as indicated on the hourly chart of the BTC/USD pair (data sourced from Kraken).Should the pair surpass the $71,400 resistance zone, it may gather further bullish momentum. Bitcoin’s price maintains its support. Bitcoin’s price experienced another…
VanEck is preparing for a potential rejection as the SEC’s decision on Ethereum spot ETFs looms. In the ETF market, silence from the SEC prompts scrutiny and uncertainty. Multiple applications for spot Ethereum ETFs are currently awaiting SEC approval, and as the decision date nears, apprehension mounts. Both financial and crypto leaders express a mixture of skepticism and optimism. A recent report from Barron’s highlights a persistently frustrating situation for ETF issuers. Unlike the constructive dialogue that facilitated the approval of spot Bitcoin ETFs, conversations between issuers and the SEC regarding Ethereum ETFs appear to be predominantly one-sided. This lack…
The demand for Bitcoin ($BTC) is experiencing an unparalleled surge, coinciding with a significant decline in the supply of Bitcoin held on crypto exchanges. This situation hints at a potential supply shock that may lead to price escalation in the near future. Julio Moreno, Head of Research at CryptoQuant, emphasizes that Bitcoin’s demand now outweighs its supply, marking a historic shift. According to CryptoQuant’s findings, demand from long-term holders has surpassed issuance for the first time ever, underscoring the growing significance of demand dynamics in driving Bitcoin’s market movements. According to CryptoQuant data, known exchange addresses currently hold approximately 1.94…
A pattern in the holdings of the Bitcoin long-term holders may suggest that the current bull run is 40% of the way to completion. Long-term Bitcoin holders have recently been distributing their holdings. In a recent post on X, Glassnode’s lead analyst Checkmate delved into the recent behavior of long-term Bitcoin holders (LTHs). These LTHs are investors who have held onto their BTC for over six months. Typically, the longer investors hold onto their coins, the less likely they are to sell them. LTHs, known for their steadfastness, tend to hold through market fluctuations, making their sales occasions notable. Historically,…
Within the ever-evolving realm of cryptocurrency investment, the possibility of regulatory approval for Ethereum exchange-traded funds (ETFs) has sparked significant speculation. Nonetheless, Eric Balchunas, a prominent ETF analyst, indicates a low probability of Ethereum ETF approval in May. Despite numerous ETF issuers consulting with the Securities and Exchange Commission (SEC) on Ether ETFs, regulatory clarity remains elusive. In a recent Barron’s report, Balchunas underscores the SEC’s hesitance to engage with these companies, suggesting a lack of meaningful dialogue on the subject. Hurdles in Regulatory Interaction Recent interactions between ETF issuers and the SEC regarding Ethereum ETFs have highlighted the hurdles…