Coin overview
ATH
Ended--
Last price (USDT)
301.74K
24h total (USDT)
1.14M
Total vol (USDT)
2024-06-05 08:00:00 ~ 2024-06-12 09:30:00
Trading time (UTC+0)
2024-06-13 04:00:00
Delivery time (UTC+0)
Total supply41.09B
Resources
Introduction
Aethir is the only Enterprise-grade AI-focused GPU-as-a-service provider in the market. It’s a decentralized cloud computing infrastructure that allows GPU providers (containers) to meet Enterprise clients who need powerful H100’s chips for professional AI/ML tasks. Aethir also support cloud gaming clients with their virtual computing phones and GPU's with contracts with the world’s largest telecommunication company. Everything within Aethir ecosystem will be decentralized and community-owned.
Arthur Hayes has transferred 32.95 million ATH and 500 ETH in the past 30 minutes
According to Lookonchain monitoring, Arthur Hayes has transferred 32.95 million ATH (approximately $1.95 million) and 500 ETH (approximately $1.57 million) in the past 30 minutes. Of these, 2.95 million ATH (about $175,000) have been deposited into the CEX exchange.
Bitcoin Nears Major Breakout as RSI Hints at Market Shift
The token’s shows price syndication with a possible rally on the horizon. RSI divergence signals weakening momentum despite recent price highs. Key price levels may decide Bitcoin’s next move upward or downward. Bitcoin is trading at $91,606.68 after achieving three all-time highs in the past week, but technical indicators now suggest possible volatility. The Relative Strength Index has shown a declining trend, and a triangle shape on the chart indicates that a major value movement could be approaching. RSI Divergence Signals a Loss of Momentum While Bitcoin’s value continues to rise, the RSI is moving in the opposite direction, which is often a warning sign. This divergence shows that buying momentum may be slowing down even though rates remain near record highs. Traders often see RSI divergence as an early indication of a potential market correction. Bitcoin ATH Warning: RSI Says "Be Careful Recent Action: #Bitcoin has hit a new ATH 3 times in the last 7 days. However, the RSI is dropping, signaling caution. Risk Alert: ▫️ A triangle pattern is forming on the LTF. ▫️ Wait for a clear breakout before making any moves. Key… pic.twitter.com/IQb0L4cDYM — Crypto Patel (@CryptoPatel) November 20, 2024 The RSI on the 4-hour chart highlights lower highs, which indicates weakening market momentum that could affect Bitcoin’s short-term price movement. This is an important signal to monitor because momentum plays a crucial role in sustaining upward trends. Moreover, the divergence between price and RSI emphasizes the need for caution, especially as Bitcoin nears key resistance and support levels. Triangle Pattern Hints at a Breakout The triangle arrangement forming on Bitcoin’s chart shows a period of consolidation where price movements are becoming narrower over time. These patterns often precede a breakout, although the direction of the breakout remains uncertain at this stage. The triangle structure highlights a balance between buyers and sellers, which suggests that a decisive price move is on the horizon. Traders often wait for clear confirmation of the breakout before taking positions in the exchange to minimize risk. If Bitcoin breaks out upward, the bullish momentum could accelerate, while a downward breakout could lead to significant losses. This pattern makes the current price range critical for traders to observe. Key Price Levels Hold the Market’s Focus BTC’s important support resistance at $90,600 is critical because falling below this level could lead to a drop near $75,000. Alternatively, if Bitcoin surpasses $93,400, it could pave the way for a rally toward the highly anticipated $100,000 milestone These levels represent hypothetical turning points that traders are closely monitoring to predict the economy’s next major move. Whether BTC continues its upward trend or experiences a serious pullback depends on how it interacts with these valuations. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
XRP Price Prediction: Trader Says Elliot Wave Pattern Suggests Huge Breakout For Ripple Token, While Crypto All-Stars Presale Passes $4.6M
The XRP price tumbled 2% in the last 24 hours to trade at $1.08 as of 02:17 a.m. EST on trading volume that slumped 27% to $5.6 billion. This comes as the Ripple token price appears to be on the verge of a significant breakout, with Armando Pantoja, an analyst on X, predicting that the XRP price could reach between $8 and $30 from its current level. According to Pantoja, Elliot wave patterns indicate a major rally for XRP is imminent. Moreover, the analyst noted that the potential exit of the SEC chair, Gary Gensler, will also help push the XRP price up. XRP Price On A Sustained Rally The XRP/USD chart analysis is displaying a strong bullish trend in the recent weeks, evidenced by the parabolic price movement in November. The bulls capitalized on the $0.55 level to push the price of XRP through the sustained rally, according to data from GeckoTerminal. This is confirmed by the sharp upward slope of the 50-day Simple Moving Average (SMA), which is positioned well above the 200-day SMA. The classic “golden cross” occurred earlier, when the 50-day SMA crossed above the 200-day SMA, forming around $0.55, which confirms the bullish stance. Meanwhile, the Relative Strength Index (RSI) is at 80, which shows that the market is at extreme overbought levels. This suggests that while the bullish momentum is strong, the asset might be due for a cooldown or price correction in the short term. However, in a strong uptrend like this, RSI can remain overbought for extended periods before a pullback. The Moving Average Convergence Divergence (MACD) is bullishly aligned, with the MACD line above the signal line, and both lines well above the zero line. This confirms strong bullish momentum. The histogram shows positive momentum increasing sharply, but the leveling off in the histogram bars suggests momentum may begin to fade soon. XRP recently peaked at $1.20, now serving as immediate resistance. If the bullish trend holds, this level could be the next target. XRPUSD Chart Analysis Source: GeckoTerminal Previous resistance levels around $1.00 and $0.80 may now act as support if a pullback occurs. These levels coincide with psychological round numbers and previous consolidation zones. As the XRP price aims for a sustained rally, investors looking for alternatives may want to consider Crypto All-Stars (STARS), which according to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, has the potential to soar 10X after its launch. Crypto All-Stars Presale Secures Over $4.6 Million – Best Crypto To Buy Now? Crypto All-Stars ($STARS) is a groundbreaking project that brings the MemeVault ecosystem into the crypto world, allowing investors to stake multiple meme coins in one place for the first time, earning rewards in $STARS tokens. Supported meme coins include Pepe, Dogecoin, Shiba Inu, Floki, as well as Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. The platform plans to expand its list of stakeable meme coins in the coming months. Traders can also stake STARS tokens for a huge 389% annual percentage yield (APY). The project has seen explosive growth, surpassing the $4.6 million milestone today after raising more than $1 million in the past week alone. Currently, $STARS is available for just $0.0015869. With a price hike due in about 2 days, buy soon to lock in the best deal. Purchase $STARS from its official website here using BNB, USDT, or a bank card . Related News Bitcoin Price Hits ATH After Trump Makes Howard Lutnick Commerce Secretary BONK Soars 11% To A New ATH As Experts Laud This Rival Top Meme Coins To Buy Today, November 19
Aethir announces collaboration with LayerZero to build a multi-chain AI and gaming ecosystem
According to official news, Aethir GPU has generated cross-chain multifunctionality needs due to its cloud infrastructure expansion. Based on this, Aethir is collaborating with the full-chain solution LayerZero to help introduce multi-chain functionality into the Aethir DePIN stack and assist Aethir in migrating to Sophon ZK chain. LayerZero's full-chain technology will ensure that node inspections and ATH token rewards for Aethir Edge operators transition smoothly from Arbitrum L2 network to Sophon while maintaining network stability and ensuring a frictionless experience for the Aethir community. In addition, Aethir will use Stargate's full-chain liquidity protocol for bridging so users can easily carry out cross-chain exchanges of ATH tokens.
Bitcoin Mining Activity Reaches a New ATH, What’s Next for BTC
Last updated: November 19, 2024 21:55 EST Bitcoin Price Analysis Bitcoin’s mining difficulty has climbed to an all-time high of 102.29 trillion, reflecting the increasing computational power securing the network. This metric, which adjusts every 2,016 blocks (approximately two weeks), ensures a consistent block production rate despite changes in miner activity. Since mid-2024, mining difficulty has surged nearly 20%, underscoring heightened competition among miners globally. The record-setting difficulty coincides with Bitcoin’s hash rate peaking above 900 exahashes per second (EH/s) before stabilizing at 730 EH/s. These developments emphasize the network’s growing scale and resilience, driven by more miners entering the ecosystem and deploying advanced technologies. Key Drivers of Rising Difficulty and Hash Rate Several factors are contributing to this growth in mining activity: Advanced Hardware: Next-generation mining equipment is enabling higher efficiency, optimizing power consumption even in regions with elevated electricity costs. Renewable Energy Use: Large-scale mining farms leveraging renewable energy are playing a pivotal role in expanding mining operations sustainably. Network Confidence: The steady rise in hash rate signals miner confidence in Bitcoin’s long-term prospects, despite market volatility. Implications for Bitcoin’s Ecosystem The rise in mining difficulty and hash rate strengthens Bitcoin’s network by enhancing its: Security: Increased competition among miners makes the blockchain more robust against potential threats. Decentralization: A growing number of global participants reinforce the network’s integrity and scalability. Sustainability: Adoption of efficient mining technologies aligns with long-term environmental goals. These metrics also reflect Bitcoin’s growing global adoption. As the ecosystem evolves, the integration of cutting-edge hardware and renewable energy ensures scalability while addressing concerns about energy consumption. Takeaways: Bitcoin’s mining difficulty surged to 102.29 trillion, marking a nearly 20% rise since mid-2024. The hash rate peaked at 900 EH/s, stabilizing around 730 EH/s, signaling robust network activity. Advancements in hardware and sustainable practices are key drivers of this growth. Bitcoin Tests $93,450 Resistance Amid Key Setup Bitcoin is trading within an ascending triangle pattern, with resistance at $93,450 forming a double-top structure. This resistance level is crucial, as a breakout above $93,450 could signal further bullish momentum, targeting $94,873 and potentially $96,177. On the downside, immediate support is provided by the 50 EMA at $91,000, followed by additional support levels at $89,760 and $88,401. The RSI stands at 55.31, reflecting neutral momentum, with room for movement in either direction. A sustained push above $93,450 would likely attract buyers, confirming bullish intent. Conversely, failure to clear this resistance may lead to a retest of support levels, particularly if $91,000 is breached. The ascending triangle setup, combined with the double-top resistance, underscores a pivotal moment for Bitcoin. Traders should closely monitor these levels for directional cues. Key Insights: Resistance Levels: Immediate at $93,450; next at $94,873 and $96,177. Support Levels: Immediate at $91,000; next at $89,760 and $88,401. Technical Indicators: RSI at 55.31 indicates neutral momentum; 50 EMA provides key support at $91,000. Bitcoin’s trajectory hinges on breaking $93,450 or holding above $91,000 to sustain upward momentum. – You might also like Bitcoin Price Prediction 2024 – 2034 Why Pepe Unchained ($PEPU) Could Be Your Next Crypto Portfolio Boost As meme coins gain momentum, Pepe Unchained ($PEPU) has emerged as a standout contender, capturing attention with its lucrative features and strong presale performance. Key Highlights Presale Closing Soon: With $37.80 million raised, the $PEPU presale is in its final stretch. At just $0.012894 per $PEPU, prices are expected to surge post-listing on tier-1 exchanges. High APY Staking: Offering a 499% APY, $PEPU allows investors to earn substantial passive income. Over 321 million tokens have already been staked, demonstrating high investor confidence. Smart Contract Security: Audited by Coinsult and SolidProof, $PEPU provides investors with added assurance of a secure platform. Act Fast on the Presale Time is running out—just 23 days remain until the presale closes. Early investors have a limited opportunity to secure $PEPU at presale prices before it hits tier-1 exchanges. Buy PEPU Here Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital. Trending News Price Predictions Recommended Articles Hackers Stole USD 670M from DeFi Projects in Q2, Up by 50% from Q2 2021 XRP To Reach $3 By End of 2024? Ripple Investors Are Anticipating a Huge Rally XRP’s Hidden Chart Pattern Suggests 500% Upside – Here’s When BONK Hits New All Time High, Is Altcoin Season Fully On? MicroStrategy Shares Hit Record High After Massive $4.6B Bitcoin Purchase Bitcoin (BTC) Price Prediction Ethereum (ETH) Price Prediction Ripple (XRP) Price Prediction Dogecoin (DOGE) Price Prediction Solana (SOL) Price Prediction Best Crypto Wallets Best Crypto to Buy Now Best Crypto Presales to Invest In Best New Meme Coins to Buy Price Analysis Bitcoin Price Analysis: BTC Holds Near $91,000 as Trump’s Pro-Crypto Policies Spark Investor Optimism 2024-11-19 09:44:52 , by Arslan Butt Bitcoin News BlackRock, Bitwise Bitcoin ETF Options Expected to Begin Trading This Week 2024-11-19 05:50:57 , by Jai Pratap Industry Talk Best Crypto to Buy Now November 19 – WORM, BERT, BOP 2024-11-19 15:31:03 , by Jimmy Aki
Schiff Continues BTC Rant Even as 93K Surge Defies His Argument
Industry critic Peter Schiff is still on his no-Bitcoin campaign. Schiff has condemned Donald Trump’s crypto mission. Bitcoin, however, continues to defy naysayers. The last few weeks in the crypto market have been all about Bitcoin (BTC) , as the crypto king continues its meteoric rise, shattering records and reaching new heights. The impressive performance has brought a fresh wave of investor enthusiasm, reaffirming confidence in BTC’s dominance and potential. Yet, long-standing naysayers remain unconvinced despite the crypto giant’s undeniable momentum. BTC Critic Peter Schiff Goes Off, Again Peter Schiff , a staunch gold advocate and vocal industry critic, has once again ridiculed Bitcoin, continuing his years-long campaign against the largest crypto asset. Sponsored Despite Bitcoin’s ongoing positive performance, Schiff dismisses its potential, calling the token a ‘pretend asset.’ According to him, BTC’s value is largely an illusion, fueled by ‘HODLers’ who refuse to sell and are simply “pretending to be rich.” The gold champion, however, did not stop at critiquing Bitcoin itself. Schiff went further to take a shot at President-elect Donald Trump’s crypto embrace, criticizing his plan to leverage Bitcoin to clear the United States’ national debt as impractical. Candidate #Trump said the U.S. could wipe out the national debt by handing our creditors a little #Bitcoin . But the debt is owed in dollars. The U.S. would have to sell its Bitcoin first, than use the proceeds to pay off the debt. The mere prospect of a sale would crash Bitcoin. — Peter Schiff (@PeterSchiff) November 19, 2024 Schiff’s latest comments are consistent with his long-standing argument that Bitcoin has no real value. He describes it as a bubble driven by the “greater fool theory.” Despite his skepticism, the ongoing BTC rally significantly defies his narrative. Bitcoin’s Fresh ATH Defies Naysayers Bitcoin, trading just above $93,500 at press time, has been on a remarkable run in recent weeks. Its present valuation marks the first time the token has surpassed the $90,000 level in history, bringing it closer to the long-coveted $100,000 mark. Despite occasional corrections , BTC’s overall performance has been largely positive, with gains over the past 30 days surpassing 36%. The stellar performance has also propelled the token to the top of global asset rankings, recently flipping silver to become the world’s eighth-largest asset by market capitalization. Market optimism remains strong for the crypto giant to maintain its upward trajectory, with many betting that the current momentum will usher in the long-awaited bull run. On the Flipside There has been speculation for years that Schiff is a ‘secret Bitcoiner.’ Unfazed by skepticism, several major institutions are loading up on Bitcoin. Why This Matters Peter Schiff has earned a reputation as one of Bitcoin’s most vocal critics. However, his negative stance has not directly impacted the token or the broader market, and BTC’s performance, despite his skepticism, highlights its resilience and market dominance. Find out more about Peter Schiff’s Bitcoin criticism in this piece: Bitcoin’s $82K Peak Has Schiff Hawking His Ordinals, Again Read this article to learn more about Donald Trump’s crypto mission: Trump’s Crypto Plans Hit Ground Running with Coinbase Link-Up
3 Cryptocurrencies That Reached All-Time Highs Today — November 20
Bitcoin revived its streak of forming new all-time highs (ATHs) over the last 24 hours as the broader market continued to remain bullish. While threat of profit taking continues to loom over the crypto market, altcoins are standing strong in their attempt at making the most of the momentum. BeInCrypto has analyzed crypto tokens that reached their new all-time high over the past day, led by the king, Bitcoin. Bitcoin (BTC) Bitcoin is currently trading at $93,313, slightly below its recent all-time high of $93,912. This new ATH surpassed the previous record set last week, reigniting enthusiasm among investors and signaling resilience in the ongoing rally. The slight dip afterward highlights Bitcoin’s dynamic price action amid heightened market activity. The achievement of another all-time high has bolstered optimism among traders, demonstrating that the bullish momentum remains intact. This development suggests that Bitcoin may continue its upward trajectory, potentially enticing further institutional and retail interest. However, sustaining this momentum will be crucial for long-term price stability. Bitcoin Price Analysis. Source: TradingView Should Bitcoin fail to maintain its recent gains and drop below the critical support level of $89,800, the cryptocurrency could face a drawdown. A decline to $85,000 would impact investor sentiment and could also trigger additional selling pressure, threatening to weaken Bitcoin’s ongoing bullish outlook. Bonk (BONK) BONK reached an all-time high of $0.00006230, marking its fifth ATH in seven days. However, the meme coin corrected slightly, dropping to $0.00005339. This price action highlights its high volatility and strong market interest, driven by investors betting on the rising popularity of meme coins. The ongoing streak of ATHs signals heightened investor confidence in meme coins like BONK. This trend could significantly benefit such tokens, particularly as the broader market sentiment remains favorable. The continued influx of speculative trading may keep BONK on an upward trajectory if the momentum is sustained. BONK Price Analysis. Source: TradingView However, BONK must maintain its rally above the crucial $0.00004736 support level to avoid losing market confidence. A drop below this level could push the meme coin down to $0.00004114, with any further decline invalidating the potential for another ATH in the near term. LEO Token (LEO) LEO posted a new all-time high of $8.50, rising by nearly 8% over the last 24 hours despite not ranking among the day’s best performers. The altcoin’s steady growth reflects rising investor confidence and its potential to maintain upward momentum in a volatile market. LEO’s current challenge lies in sustaining its bullish momentum. To continue its uptrend and achieve higher highs, the altcoin must capitalize on its recent rally and avoid significant profit-taking. Any signs of weakening sentiment could hinder its ability to maintain this trajectory. LEO Price Analysis. Source: TradingView If the bullish momentum falters, LEO may face a decline toward the support level of $7.63. Losing this key support would make recovery difficult and could invalidate the current bullish outlook, leaving investors cautious about further price action.
Potential Downtrend for POPCAT Following Recent ATH Amid Market Sentiment Shift
POPCAT, a popular meme-based cryptocurrency, is experiencing a significant downturn after recently achieving a new all-time high (ATH). The memecoin’s value decreased by 5.37% in the last 24 hours, raising concerns about a potential bearish trend in the market. “A hike in selling pressure often leads to a price decline on the charts,” noted COINOTAG in their latest analysis. This article analyzes the recent decline of POPCAT after its ATH, examining market sentiment shifts and potential future price movements. Current Market Dynamics Surrounding POPCAT’s Performance Following a remarkable rise that allowed POPCAT to reach a peak of $2.07, the cryptocurrency has seen a notable correction. This decline, marked by a drop to $1.72, suggests a transition in market dynamics driven by increased selling pressure. As reported, the memecoin depreciated by 22.71% since its peak three days ago, indicating a shift from bullish enthusiasm to bearish caution among investors. Analysis of POPCAT’s Chart and Market Sentiment As detailed in COINOTAG’s analysis, the change in sentiment is reflected in the Relative Strength Index (RSI), which fell from 66 to 53 within a week, signaling that recent bullish momentum may be waning. The RSI-based moving average also displayed a bearish crossover, reinforcing concerns regarding the strength of selling pressure in the market. Accompanying this decline in the RSI is a decrease in the positive directional index (+DI), which has slipped to 17. This drop, alongside the average directional index (ADX) at 24, suggests that the underlying bullish momentum is faltering as a stronger bearish pressure takes hold. Increased Selling Pressure and Market Reactions Further complicating matters for POPCAT is the observable trend in net flows to exchanges. According to data from Coinglass, there has been a persistent positive net flow for the last four days, indicating that investors are liquidating their holdings, likely driven by profit-taking behaviors. This spike in inflows further underlines the prevailing sentiment among investors to capitalize on recent gains amidst an uncertain market landscape. The long/short ratio has also adapted to this shift, as many traders increasingly bet against POPCAT’s price, indicating a growing sense of bearish sentiment. The data suggests that the market appears to favor short positions, reinforcing the possibility of continued declines. Implications for POPCAT’s Future Price Movement Given the current market climate, analysts suggest that if bearish sentiment remains dominant, POPCAT could find critical support around $1.37. This support level represents a crucial threshold for the cryptocurrency moving forward. Conversely, should bullish momentum re-establish itself, there exists the potential for a re-test of resistance around $1.97. If this resistance is broken, it could pave the way for POPCAT to challenge its ATH yet again, thereby energizing the market with fresh buying signals. Conclusion The ongoing fluctuations in POPCAT’s price, coupled with recent market analytics, indicate a prevalent bearish sentiment exacerbated by selling pressure and increased inflows into exchanges. However, whether this trend continues remains contingent upon the dynamics of buyer interest returning to the market. Therefore, the current focus will be on observing price action near significant levels at $1.37 and $1.97 as traders strategize for potential rebounds or further dips. In Case You Missed It: Quant Memecoin Trader Achieves Over 2,100% Return Amid Rug Pull Controversy
Riding the Liquidity Tide
Executive Summary Bitcoin’s rally to $93k has been fuelled by robust capital inflows from both ETFs, and spot markets. Over $62.9B has entered the market over the last 30 days, with BTC dominating the demand inflows. Elevated unrealized profits among long-term holders have triggered significant spending activity, with 128k BTC sold between 8-October and 13-November. U.S. Spot ETFs played a pivotal role, absorbing around 90% of the selling pressure from long-term holders over the analyzed period. This highlights the growing importance of the ETFs in maintaining liquidity, and stabilizing the market. 💡 View all charts in this edition in The Week On-chain Dashboard. Capital Inflows Surge Since the start of November, the Bitcoin price performance has been nothing short of remarkable, repeatedly forming new ATHs throughout the month. When comparing the price performance of the current cycle to the 2015-2018 🔵 and 2018-2022 🟢 cycles, a striking persistent similarity can be seen. Both the magnitude of the rally, and the duration are surprisingly consistent, despite vastly differing market conditions. This longstanding consistency over cycles remains intriguing, offering insights into Bitcoin’s macro price behaviour and cyclical market structure. Historically, bull markets in the past have extended for between 4 and 11 months from the current point, providing a historical framework for assessing cycle duration and momentum. Live Chart A new ATH has been set this week at $93.2k, putting Bitcoin’s quarterly performance at an impressive +61.3%. This is an order of magnitude higher than the comparative performance of both Gold and Silver, which have seen more modest quarterly rises of +5.3% and +8.0%, respectively. This stark contrast suggests a potential rotation of capital from traditional commodity store of value assets, towards Bitcoin being a younger, emergent and digital one. The Bitcoin market capitalization has also expanded to a staggering $1.796T, making it the 7th largest asset globally. This move positions Bitcoin above two symbolically significant global assets: silver, valued at $1.763 trillion, and Saudi Aramco, at $1.791 trillion. As of current, Bitcoin trails Amazon by only 20%, placing this as the next important milestone in its journey up the ranks of the world’s most valuable assets. Live Chart Following Bitcoin’s standout 90-day performance, the broader digital asset market is starting to experience a meaningful influx of capital. Over the past 30 days, aggregate inflows have reached a massive $62.9 billion, with Bitcoin and Ethereum networks absorbing $53.3 billion, while stablecoin supplies have expanded by $9.6 billion. These inflows mark the highest levels since the March 2024 peak, and reflects renewed confidence and fresh demand after the U.S. presidential election. Live Chart Expanding on the capital inflows observed, the vast majority of the $9.7 billion in stablecoins minted over the past 30 days were deployed directly to centralized exchanges. This inflow closely matches the total capital flows for stablecoin assets during the same period, emphasizing their pivotal role in stimulating market activity. The surge in stablecoin balances on exchanges reflects strong speculative demand as investors position to capitalize on trends, further reinforcing the bullish narrative and post-election momentum. Live Chart Investigating the Profitability of Investors We have thus far explored the tides of rising market liquidity, which has supported outperformance for Bitcoin. In this next section, we will evaluate how this price action has affected the unrealized profitability (paper gains) of market investors, utilizing the MVRV Ratio. When comparing the current value of the MVRV Ratio 🟠 against its yearly moving average 🔵, we can see an acceleration in investor profitability. This phenomena has typically been a supportive environment for continued market momentum, but also creates conditions where investors become more likely to start taking profits to realize these paper gains. Live Chart As the profitability of market investors increases, the elevated potential for new sell-side pressure comes into play. By overlaying the MVRV Ratio with ±1 standard deviation bands, we can construct a framework to assess over and under-heated market conditions. Overheated (warm colors): MVRV trades above +1SD Underheated (cool colors): MVRV trades below -1SD Bitcoin's price has recently broken above the +1σ band, located at $89.5k. This signals that investors are now holding statistically significant unrealized profits, and suggests an increased likelihood of profit-taking activities. Nevertheless, the market has historically remained in this overheated state for extended periods of time, especially when supported by sufficiently large capital inflows to absorb sell-side pressure. Live Chart Long-Term Holders Spending at Extremes During the euphoric phase of the market cycle, the behaviour of long-term investors becomes critical to monitor. LTHs control a substantial proportion of the supply, and their spending dynamics can greatly impact the market stability, eventually working to form both local, and global tops. We can evaluate the paper gains held by LTHs by utilizing the NUPL metric, which currently resides at 0.72, just below the Belief 🟢 to Euphoria 🔵 threshold at 0.75. Despite the substantial price increase, sentiment among these investors remains measured compared to previous cycle tops, suggesting there may be further room for growth. Live Chart As Bitcoin broke above $75.6k, 100% of the 14M BTC held by long-term holders moved into profit, enticing an acceleration in spending. This has led to a non-trivial balance decline of +200k BTC since the ATH break-out. This is a classic and repeating pattern, where long-term holders begin taking profits whenever price action is strong, and demand is sufficient to absorb it. With a significant amount of Bitcoin still under LTH ownership, it is likely that many LTHs are waiting for higher prices before releasing more coins back into liquid circulation. Live Chart We can employ the Long-Term Holder Spending Binary Indicator to evaluate the intensity of LTH sell-side pressure. This tool assesses the percent of days out of the last two weeks where the cohorts spending exceeds their accumulation, resulting in a net decline in their holdings. Since early September, as Bitcoin's price gained momentum, long-term holder spending can be seen to steadily increase. With the recent surge to $93k, this indicator reached a value indicating 11 of the last 15 days have seen a LTH balance decline. This highlights an increase in long-term holder distribution pressure, although it is not yet at the magnitude observed around the March 2021, and March 2024 peaks. Live Chart Having identified the elevated spending behaviour by long-term holders, we can consult the next tool for deeper insights into their activity around pivotal market points. The interplay of profit taking, and unrealized profit can help to highlight their role in shaping cycle transitions. This chart visualizes: LTH Realized Price (🔵): The average acquisition price for long-term holders. Profit/Loss Pricing Bands (🔵): Bands representing extreme profit (+150%, +350%) and loss (-25%) levels, which often trigger notable spending activity. Profit-Taking (🟩): Phases where long-term holders hold over +350% profits and ramp up spending. Capitulation (🟥): Periods of high spending by long-term holders in a -25%+ loss state. Bitcoin’s price has surged past the +350% profit-band (located at $87k), prompting significant profit-taking behaviour amongst this cohort. Distribution pressure is likely to increase as the market rallies, and these unrealized gains expand accordingly. That said, this has historically signalled the start of the most extreme phase of prior bull markets, with unrealized profits growing to over 800% in the 2021 cycle. Live Chart Institutional Buyers We will now turn our attention to the role that institutional buyers have on the market, particularly via the U.S. Spot ETFs. The ETFs have been a major source of demand in recent weeks, absorbing a majority of the sell-side by LTHs. This dynamic also highlights the growing influence of institutional demand in shaping modern Bitcoin market structure. As outlined in Week on-Chain 46, since mid-October, weekly ETF inflows have surged to between $1B to $2B per week. This represents a significant uptick in institutional demand, and are some of the most significant periods of inflows to date. Live Chart To visualize the counter balancing forces of LTH sell pressure, and ETF demand, we can analyze the 30-day change in the Bitcoin balance of each cohort. The chart below shows that during the period from 8-October to 13-November, the ETFs absorbed around 128k BTC, which is approximately 93% of the 137k BTC in net selling pressure exerted by LTHs. This highlights the critical role that the ETFs have in stabilizing the market during periods of elevated selling activity. However, since 13-November, LTH sell-side pressure has begun to outpace ETF net inflows, echoing a pattern observed in late February 2024, where the imbalance between supply and demand led to increased market volatility, and consolidation. Live Chart Summary and Conclusion Bitcoin's rally to $93k has been supported by strong capital inflows, with around $62.9B worth of capital flowing into the digital asset space over the last 30-days. This demand has been led by institutional investors via the U.S. Spot ETFs, perhaps even as capital rotates out of gold and silver. The ETFs have played a key role, absorbing over 90% of sell-side pressure by Long-Term Holders. However, as unrealized profits reach more extreme levels, we can expect more LTH spending, which in the immediate term has outpaced ETF inflows. Disclaimer: This report does not provide any investment advice. All data is provided for information and educational purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions. Exchange balances presented are derived from Glassnode’s comprehensive database of address labels, which are amassed through both officially published exchange information and proprietary clustering algorithms. While we strive to ensure the utmost accuracy in representing exchange balances, it is important to note that these figures might not always encapsulate the entirety of an exchange’s reserves, particularly when exchanges refrain from disclosing their official addresses. We urge users to exercise caution and discretion when utilizing these metrics. Glassnode shall not be held responsible for any discrepancies or potential inaccuracies. Please read our Transparency Notice when using exchange data . Join our Telegram channel. For on-chain metrics, dashboards, and alerts, visit Glassnode Studio For automated alerts on core on-chain metrics and activity on exchanges, visit our Glassnode Alerts Twitter
XRP Could Shatter $20 Level ‘Easily,’ According to Crypto Analyst – Here’s His Outlook
A crypto strategist known for making timely altcoin calls thinks it is within the realm of possibility for XRP to his massive price target. Pseudonymous analyst Credible tells his 434,700 followers on the social media platform X that a new all-time high (ATH) for XRP against Bitcoin (XRP/ BTC ) is not a “matter of if but when.” But the trader highlights that the road to a new all-time high for XRP/BTC won’t come easy as the pair still needs to overcome two stiff resistance levels. “The red zone is major resistance – odds are we find some resistance there on this push – that being said it’s a massive region/zone so XRP could push significantly higher on the USD pairing before we start taking a breather (1.50-$2)… Flipping the dotted red line above the red zone and establishing it as support is what we want to see to start going for new ATH. That’s THE most important level on this entire chart.” Source: Credible/X According to the crypto strategist, shattering the 0.0000399 BTC “red dot” resistance will put the pair in a position to rally to new all-time highs, which he notes would bode well for XRP/USD. “If/when we flip that to support, double digits [XRP/USD] probably come quickly… At current BTC prices, a new ATH on XRP/BTC would put us over $20 easily. That being said – you’ll need to be patient – need to clear the red zone and flip the level above before we can start considering that and that may take some time.” At time of writing, XRP/BTC is trading for 0.00001196 BTC ($1.10). Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Generated Image: Midjourney
Bitcoin Reached New ATH and Lack of FOMO Suggests $100K Is Next
After a week-long consolidation with a few corrections below $90,000, bitcoin’s bull run resumed yesterday, and the asset charted a fresh peak of just over $94,000. On-chain and social data indicated that the asset’s rally could be far from over, and the question arises of whether it has the legs to go to the coveted $100,000 level . BTC’s ATH Driven by…? CryptoPotato reported yesterday’s price surge that pushed BTC to just shy of $94,000, but it climbed minutes later to $94,040 (on CoinGecko), which is the current all-time high. Many experts suggested that the primary reasons behind this surge are related to US-based ETFs. On the one hand, the spot Bitcoin ETFs have continued to see massive demand, with over $1 billion of net inflows in the first two days of the business week. On the other, the launch of the BlackRock iShares Bitcoin Trust (IBIT) yesterday also saw significant volumes. Bloomberg’s ETF expert, James Seyffart, commented, “These options were almost certainly part of the move to the new Bitcoin all-time highs today.” On the matter of whether BTC could continue to rally, Santiment published a chart demonstrating that the current FOMO levels are nowhere near close to the euphoria after Donald Trump’s victory in the 24 US presidential elections two weeks ago. Generally, high levels of FOMO lead to corrections, as it happened last week, but the landscape seems a lot healthier now. The Healthier Landscape Even before BTC’s peak and the confirmation of weak FOMO, the analytics platform noted that the long-term indicators for bitcoin and the rest of the market look “quite sound.” This is shown by the Mean Dollar Invested Age line. The metric is declining, showing that the “average age of all tokens stagnantly moving in the same wallets is getting “younger.”” “In any long-term bull market, it is necessary for older, dormant coins continuously moving back into circulation. This has been the most evident case of this since the initial flow of stagnant whale coins began moving aggressively back in October, 2020.” – concluded Santiment.
Supply Shock: Bitcoin ETFs Sucked up 9,000 BTC Daily While Only 450 Were Mined
Just under a whopping 9,000 BTC was accumulated by spot Bitcoin ETFs in the United States on Tuesday, Nov. 19. This equates to around $814 million in total aggregate inflows across the eleven funds, according to Coinglass. Around 450 BTC are mined daily, which means that a huge supply shock is imminent if institutional funds continue to hoover up coins at current rates. Moreover, the supply shock will be amplified by the halving effect, which reduced block rewards in April. This could induce a post-halving bubble, as it has in previous cycles. Institutions Drive BTC to ATH More than $1 billion has entered spot Bitcoin ETFs in just two days this week as market momentum continues. Tuesday was a bumper inflow day for Ark 21Shares, Fidelity, and BlackRock, with the three ETFs seeing inflows of $267.3 million, $256.1 million, and $213.5 million, respectively. There were minor inflows for the Bitwise, Grayscale, and VanEck funds and no outflows for the second consecutive day of trading this week. This brings the total aggregate inflow for the products to $28.5 billion since they launched in January. The demand for these products reinforces the notion that this rally is being driven by institutions, and retail has yet to come to the party. Bitcoin hit an all-time high of a little over $94,000 during late trading on Tuesday but retreated to $92,320 during the Wednesday morning Asian trading session. IBIT Options Launch The launch of BlackRock iShares Bitcoin Trust (IBIT) options on Tuesday was also bullish, with almost $2 billion in notional exposure traded on the first day. Analysts and experts have attributed this to the latest BTC price peak. “These options were almost certainly part of the move to the new Bitcoin all-time highs today,” commented Bloomberg ETF analyst James Seyffart. Meanwhile, ETF Store president Nate Geraci added: “Options add an entirely new dimension. Makes it much easier and more enticing for institutional investors to enter the arena.” Until now, spot Bitcoin ETF options were only available outside of the United States. Their launch opens up the asset to the largest liquidity pool in the world, which could turbocharge BTC prices if the funds keep purchasing it to keep up with demand.
BONK Hits New ATH and Flips dogwifhat as Top Solana Memecoin
BONK hits a new ATH of $0.00005916, surpassing dogwifhat (WIF) to become the largest Solana memecoin by market cap. South Korea’s largest crypto exchange, Upbit, lists BONK in its Korean Won trading market. Today, BONK, the leading Solana-based memecoin, has made a significant breakthrough. It reached a new all-time high of $0.00005916, surpassing dogwifhat (WIF) to become the largest Solana-based memecoin by market cap. Currently, it holds the position of the fourth largest meme coin in the overall cryptocurrency ranking. Memecoin Rankings (Source: CMC ) Adding to the excitement, South Korea’s largest crypto exchange, Upbit, has announced the listing of BONK on its Korean Won trading market, further increasing its visibility and accessibility. BONK has successfully broken free from the prolonged bear trend , where it struggled to surpass the $0.00003 level since late July. The “Ichimoku Cloud chart confirms a strong uptrend for BONK,” signaling that the bulls are in control. At the time of writing, BONK is priced at $0.00005643 (22% increase) and has a market cap of $4.23 billion. Additionally, its daily trading volume has surged by 94.91% in the last 24 hours, reaching $2.88 billion. Technical Analysis and Short-Term Outlook for BONK According to the BONK/USDT trading pair, the memecoin’s price has returned higher in the intraday levels, confirming the breach of the pivotal resistance at $0.00005003, which led the way to the all-time high. This move is supported by the upward short-term trend, with positive pressure from trading above the 50-day SMA ($0.00002603). Also, the positive signals from the RSI on the 4-hour price chart suggest there is room for further upside. BONK Price Chart (Source: TradingView ) Moreover, the MACD line crossing above the signal line indicates strong bullish momentum, suggesting that the price may be poised to move upward. This crossover suggests that the short-term price momentum is stronger than the longer-term momentum. Therefore, more gains for BONK are expected. Currently, it settles firmly above $0.000055, targeting the resistance at $0.00006325. However, on the daily chart, an RSI of 82 indicates that the asset is overbought and may be due for a potential price correction or consolidation. In that case, BONK could fall to immediate support at the 9-day SMA of $0.00005307, or even to $0.00004316, which could lead the memecoin to fall below $0.00003253. For insights on BONK’s long-term move, keep an eye on TheNewsCrypto’s BONK price prediction . Highlighted Crypto News Today Stablecoins Hit Record High Supply Hinting Further Bullish Momentum
What to Expect Next in Bitcoin? Is There a Possibility of a Correction? Analysts Explained!
While Bitcoin is paving the way for $100,000 with the rally it has experienced in recent days, analysts generally predict that $100,000 will come soon. However, not every analyst thinks the same and states that they are not optimistic about the Bitcoin price as there are still concerns about the short term. At this point, analysts claimed that Bitcoin was in a high volatility phase and was facing a potential retest of the previous $69,000 peak. Speaking to Coindesk, SOFA senior manager Augustine Fan said that Bitcoin’s rally has entered a more volatile phase. Noting that Bitcoin’s growing dominance is similar to the mega-cap trend in the S&P 500, Fan stated that this situation in BTC could create challenges for the broader crypto market. Fan also noted the risk of the exuberant market sentiment creating a potential top for Bitcoin and cryptocurrencies, saying that this pattern in the S&P 500 shows a rapid price increase followed by an equally rapid decline, and warned investors of a sharp and sudden decline. Market analyst Omkar Godbole similarly warned investors about a possible sharp decline, arguing that the Bitcoin price could peak at current levels and a breakout could occur. According to the analyst, if there is a breakout in price, Bitcoin could retest its old ATH around $69,000, with the downward wick potentially dropping to $60,000. WeFi co-founder Maksym Sakharov also shared a similar view, saying, “The upward trend in Bitcoin has slowed down since it crossed $90,000. The fact that the US Federal Reserve is no longer in a hurry to cut interest rates has forced investors to reconsider their bets on Bitcoin. If the Fed continues to take a somewhat aggressive stance on interest rate cuts, Bitcoin’s appeal may decrease, which will negatively affect the price.” *This is not investment advice.
Bitcoin Price Prediction: Will BTC Break $100,000 After Recent ATH?
Bitcoin has recently achieved significant milestones, reaching new all-time highs (ATH) and sparking widespread speculation about its next big move. With its price consolidating near critical levels, institutional adoption through Bitcoin ETFs and layer-2 solutions like Bitfinity are fueling optimism. In this article, we delve into Bitcoin’s recent performance, its path to $100,000 , and the key developments driving its market presence. Bitcoin Newest ATH: A Milestone Above $93,300 On November 13, 2024, Bitcoin surged to its highest-ever price , with ATHs of $93,322.82 on TradingView and $93,434.36 on CoinMarketCap . This achievement underscored Bitcoin’s dominance in the market, propelled by institutional adoption and macroeconomic optimism. However, no rally is complete without corrections. After hitting this record, Bitcoin faced a sharp dip, settling around $88,000-$91,000 support zones. Despite the pullback, this ATH reflects Bitcoin's bullish journey. Analysts note that such consolidations often act as a springboard for future price rallies, particularly as market interest remains strong . By TradingView - BTCUSD_2024-11-19 (All) Bitcoin Price Boosters Institutional Adoption and Bitcoin ETFs Bitcoin’s market narrative is shifting as institutional involvement deepens. The launch of Bitcoin ETF options, such as BlackRock’s $42 billion iShares Bitcoin Trust (IBIT), is expected to transform the market by increasing liquidity and attracting institutional capital. These ETFs not only enhance accessibility for investors but also provide a mechanism to hedge against Bitcoin's volatility. This development could further expand the cryptocurrency's appeal, pushing prices closer to the coveted $100,000 target. Bitfinity Network Beyond its price action, Bitcoin is evolving with innovative solutions like the Bitfinity Network. This Ethereum-compatible layer-2 protocol introduces decentralized finance (DeFi) capabilities to Bitcoin, backed by $12 million in funding. Bitfinity enables Bitcoin users to interact with decentralized applications (DApps), creating a scalable and versatile ecosystem. As the demand for Bitcoin-based DeFi applications rises, Bitfinity is poised to play a pivotal role in enhancing Bitcoin's utility beyond its traditional use case as a store of value. MicroStrategy’s Billion-Dollar Bet on Bitcoin MicroStrategy continues to lead the charge among institutional Bitcoin adopters. The company recently announced plans to raise $1.75 billion through senior convertible notes to acquire more Bitcoin. With over 331,000 BTC already in its treasury, MicroStrategy’s move highlights growing confidence in Bitcoin's long-term value. CEO Michael Saylor’s bullish stance on Bitcoin further reinforces its potential as a premier asset class. By TradingView - BTCUSD_2024-11-19 (1W) Bitcoin Price Prediction Bitcoin Consolidation and Technical Analysis Bitcoin’s price has been consolidating near its ATH , maintaining stability above the critical $88,000 level. Technical indicators reveal mixed signals: Support Zones: Bitcoin has established key support levels between $88,000 and $91,000, critical for its upward momentum. Symmetrical Triangle Patterns: Shorter timeframes suggest Bitcoin is nearing the end of its consolidation phase. A breakout could drive the price higher, with $100,000 as the next major milestone. RSI Observations: While the RSI hints at an overbought state, many experts believe this may lead to only minor pullbacks, followed by significant upward movement. As long as Bitcoin holds above the $88,000 mark, any temporary corrections are likely to be short-lived, reinforcing the bullish outlook. By Trading View - BTCUSD_2024-11-19 (3D) Will BTC Break $100,000 After Recent ATH? As Bitcoin consolidates near its ATH, market sentiment is divided . Optimists point to rising institutional adoption, ETF launches, and innovations like Bitfinity as factors that could drive Bitcoin beyond $100,000. However, caution persists. Analysts warn that a break below $88,000 support could lead to short-term volatility , delaying Bitcoin’s next big rally. Ultimately, the cryptocurrency's trajectory will depend on broader market dynamics and technical indicators. By TradingView - BTCUSD_2024-11-19 (YTD) Bitcoin's journey toward $100,000 hinges on critical support levels, institutional adoption, and innovative solutions enhancing its ecosystem. While short-term fluctuations may occur, the long-term outlook for Bitcoin remains bullish . Investors and enthusiasts alike will be watching closely as Bitcoin inches closer to its next milestone.
MANTRA (OM) Price Prediction: What’s After The 200% Surge?
MANTRA (OM) has experienced a remarkable surge in performance, with its price increasing by over 7,170% in 2024. As of November 19, 2024, the token is trading at $4.24, just shy of its all-time high of $4.47, reached on November 18, 2024. In this article, we explore the key factors behind this surge, MANTRA's rise in market rankings, and what to expect next for the token’s price trajectory . What are MANTRA (OM) Surge Drivers? MANTRA’s growth can be attributed to several strategic developments and partnerships that have helped push its market cap to $3.82 billion and its 24-hour trading volume to $531.33 million. Let's take a closer look at the major drivers behind this surge: 1. Strategic Partnerships and Innovation One of the key factors fueling MANTRA's rise is its partnership with Google Cloud, announced in late October 2024. This partnership has bolstered MANTRA’s blockchain infrastructure, providing increased scalability, security, and operational efficiency. By leveraging Google Cloud's powerful computing capabilities, MANTRA is set to solidify its position in the DeFi space , attracting more users and developers. Additionally, MANTRA's launch of Vaults , which allows crypto investors to gain exposure to multiple cryptocurrencies through staking stablecoins like USDT, has helped boost the platform's appeal and user base. 2. GenDrop Airdrop Initiative The announcement of GenDrop, a novel airdrop initiative , on November 15, 2024, also played a crucial role in generating excitement around MANTRA. The airdrop is targeted at users who engage with the platform by bridging tokens from ERC20 to the MANTRA chain, thereby enhancing its ecosystem and fostering a wider adoption. 3. Real-World Asset (RWA) Integration In line with its goal of bridging traditional finance with blockchain technology, MANTRA partnered with Ondo to create a Real-World Asset (RWA) savings vault . This vault enables users to gain exposure to U.S. Treasury yields, a move that highlights MANTRA’s capacity to integrate traditional financial assets with decentralized blockchain infrastructure , appealing to both crypto and traditional finance investors. MANTRA (OM) Price Analysis of This Year's Surge As of November 19, 2024, MANTRA (OM) is ranked at #33 in the cryptocurrency market, reflecting its impressive rise from a lower rank earlier this year. The token's price performance over the past month has been nothing short of extraordinary, with a 206.47% increase in 7 days out of the 18678.90% surge since November 2023. MANTRA's impressive performance is largely driven by the overall bullish sentiment in the cryptocurrency market, as well as the platform's recent technical upgrades. The price of OM recently hit an all-time high of $4.47 almost triple its past ATH of $1.62 mid-October, but has since experienced a slight correction of -5.74% to its current price of $4.24. This pullback is common in volatile markets and may represent a natural price consolidation before the next leg of growth. With a circulating supply of 901.18 million OM tokens out of a total supply of 1.79 billion, MANTRA’s tokenomics suggest that the scarcity factor, combined with increasing demand, could drive the price further upward. As more features and services are rolled out on the platform, including staking, lending, and governance, the utility of OM tokens could increase, potentially reducing the available supply and driving the price higher. By TradingView - OMUSD_2024-11-19 (1Y) MANTRA (OM) Price Prediction: What’s After The 200% Surge? Looking ahead, there are several factors that could influence the MANTRA (OM) price in the coming months: 1. The Impact of Ongoing Developments As MANTRA continues to expand its offerings and user base, particularly through its Vaults feature and partnerships like the one with Google Cloud, the growth trajectory for the token seems positive. DeFi adoption is likely to continue gaining momentum, and MANTRA’s ability to offer both traditional finance and blockchain-based financial products will likely keep it at the forefront of the DeFi space. 2. Price Trajectory: What Can Investors Expect? Given the 7,170.45% year-to-date rise and the continued innovation within its ecosystem, MANTRA's price could experience additional bullish momentum. If the current trends continue, the OM token might see another push toward its previous all-time high of $4.47, with a potential to reach $5.00 or higher in the next 3-6 months, assuming positive market conditions and further partnerships. However, investors should remain cautious, as the DeFi space can be volatile. Price corrections are typical, and broader market trends will play a key role in determining the future price movement. By TradingView - OMUSD_2024-11-19 (All) MANTRA (OM) Leading RWAs Tokenization MANTRA (OM) has positioned itself as a prominent player in the DeFi ecosystem, with its commitment to bridging traditional finance with blockchain technology, strong strategic partnerships, and a growing user base. With the recent price surge and the ongoing expansion of its ecosystem, MANTRA is well-positioned to continue its upward momentum in the cryptocurrency market. As always, it’s essential for investors to conduct their own research and assess their risk tolerance before diving into any cryptocurrency. However, based on the current developments, MANTRA's future looks promising, and its continued integration of real-world assets could set the stage for even greater growth.
Bitcoin Price Gears Up for New ATH: Will Bulls Push Through?
Bitcoin price is consolidating gains near the $90,000 zone. BTC is showing positive signs and might soon aim for a fresh increase above $92,000. Bitcoin started a fresh increase above the $90,000 zone. The price is trading above $90,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $89,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $92,600 resistance zone. Bitcoin Price Aims Another ATH Bitcoin price started a short-term downside correction below the $90,000 level. BTC traded below the $88,000 level before it found support. A low was formed at $86,621 and the price is now recovering higher. There was a move above the $90,000 level. A high was formed at $92,607 and the price is now consolidating. It is trading near the 23.6% Fib retracement level of the upward move from the $86,621 swing low to the $92,607 high. Bitcoin price is now trading above $90,000 and the 100 hourly Simple moving average . There is also a key bullish trend line forming with support at $89,600 on the hourly chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $86,621 swing low to the $92,607 high. On the upside, the price could face resistance near the $92,000 level. The first key resistance is near the $92,500 level. A clear move above the $92,500 resistance might send the price higher. The next key resistance could be $93,200. Source: BTCUSD on TradingView.com A close above the $93,200 resistance might initiate more gains. In the stated case, the price could rise and test the $95,000 resistance level. Any more gains might send the price toward the $98,000 resistance level. Another Drop In BTC? If Bitcoin fails to rise above the $92,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $90,000 level. The first major support is near the $89,650 level. The next support is now near the $88,000 zone. Any more losses might send the price toward the $86,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $89,650, followed by $88,000. Major Resistance Levels – $92,000, and $92,500.
Bitcoin ‘daily pennant’ targets $125K as BTC coils near its all-time high
Bitcoin ( BTC ) price registered a new weekly high close for the second consecutive week after recording a 12% rise over the past seven days. The crypto asset is up 31% for the month as prices continued to consolidate near its all-time high (ATH) range. Bitcoin 1-week chart. Source: TradingView With technical analysis demonstrating a bullish outlook across all time periods, one analyst believes another 40% rise might unfold over the next few days. Bitcoin “daily pennant” targets $125,000 Bitcoin rallied by 40% between Nov. 4 and 13 after BTC’s price discovery commenced post-$80,000. Since reaching an all-time high (ATH) at $93,450, its value has oscillated between the ATH and $87,000. During that consolidation period, SuperBitcoinBro, an anonymous technical analyst, indicated that BTC had formed a bullish pennant on the daily chart. A bullish pennant is a continuation pattern that occurs after a significant rise, followed by a consolidation period at the higher price end of the range. Bitcoin daily chart analysis. Source: SuperBitcoinBro/X A positive breakout from the pennant could potentially lead to the next leg up for Bitcoin, measured at $125,000 or 40% from its current price point. However, it is important to note that the success rate of a bullish pennant is only around 54%, which makes it one of the least reliable patterns. Additionally, Coosh Alemzadeh, a Bitcoin trend analyst, predicted a similar price target range for Bitcoin, which lies between $130,000 and $145,000, by the end of 2024. Alemzadeh’s long-term outlook is based on Elliot wave theory, and according to the analyst, Bitcoin is currently at the 5th wave extension, where the “steepest part of this move is in front of us.” Related: BTC price weekly close nears $90K — 5 Things to know in Bitcoin this week Coinbase premium indicates uncertainty at $90,000 After Bitcoin entered price discovery above $73,880, the move between $75,000 and $90,000 was strongly supported by a spike in Coinbase premium, which jumped to its highest level since Q2. However, since then, the premium index has cooled, indicating that US retail investors are currently slowing down. CryptoQuant’s quick take insight also implied a similar sentiment and mentioned : “It seems like Coinbase is taking a breath to decide its next move. It would be wise for conservative traders to enter after the Coinbase Premium regains its momentum.” This aligns with the fact that Bitcoin transaction volume under $100,000 reached a new three-year high. Ki-Young Ju, CryptoQuant’s CEO, believed that retail FOMO under the $100,000 limit might lead to the formation of “exit liquidity” for the whales. Yet the onchain analyst emphasized that these corrections will only mean dips and not the beginning of another bear market. Bitcoin 1-hour chart. Source: TradingView On the lower time frame, Bitcoin has repeatedly bounced from an ascending trendline and is currently facilitating another retest. The price has also received support from the 50-day and 100-day EMA levels, and it is currently oscillating right above the psychological level of $90,000. A breakout and significant close above $93,421 would signal another price discovery period for BTC, with $100,000 as its immediate target. Related: BTC price ‘issues’ include $70K dip despite Bitcoin whale accumulation This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Investors Optimistic Over Spot Bitcoin ETF Options Launch in US Today
Spot Bitcoin ETF options may be listed and traded on Nasdaq as early as November 19. After the US Spot Bitcoin ETF’s success, this move has boosted market confidence. As per industry executive Joe Consorti, more liquidity could attract a new wave of institutional and individual investors. Making the impending launch of spot Bitcoin exchange-traded fund options in the US a potentially monumental event. According to a video published on X on November 19 by Consorti, head of growth at Bitcoin custody firm Theya, the first spot Bitcoin ETF options are scheduled to begin trading in the US on November 19. This marks the beginning of Bitcoin’s next phase in the financial markets. The investment vehicles, starting with the BlackRock iShares Bitcoin Trust (IBIT), will be launched by the Options Clearing Corporation (OCC) on November 18th. Boosting Market Confidence Price dynamics, volatility, and institutional adoption have entered a fresh era. Especially, with the availability of spot Bitcoin ETF options, particularly for the IBIT vehicle, according to Consorti. Spot Bitcoin ETF options may be listed and traded on Nasdaq as early as November 19. This is according to Alison Hennessy, head of ETP listings at the exchange. In the financial derivative known as “spot Bitcoin ETF options,” investors are granted the right, but not the obligation, to purchase or sell shares in spot crypto ETFs at specified prices. While uploading Consorti’s video on X on November 19, Bloomberg’s senior ETF analyst Eric Balchunas said that this was a “BFD”. After the US Spot Bitcoin ETF’s success and skyrocketing demand, this move has boosted market confidence. Following two days of outflow last week, amid brief recovery. The US Spot Bitcoin ETF saw an inflow of $254.8 million on November 18, according to data from Farside Investors. Highlighted Crypto News Today: Sui Combats Resistance and High Volatility Post Hitting ATH
Bitcoin at $90,000: Extreme Greed Puts New ATH in Jeopardy
Bitcoin’s price rally appears to have stalled after a week of all-time highs (ATHs), with the cryptocurrency now facing significant challenges. The bullish momentum that propelled BTC to $93,242 has slowed, raising concerns about potential corrections as market conditions begin to shift. Bitcoin Faces Potential Reversal The NVT (Network Value to Transactions) Ratio, a critical metric for analyzing Bitcoin’s value, has spiked after recently hitting an eight-month low. A low NVT ratio typically indicates that the network’s transactional activity is aligned with its value, signaling a balanced and sustainable market. However, the current uptick suggests that Bitcoin’s network value may be outpacing its transaction activity. Historically, such scenarios have preceded corrections, highlighting the importance of closely monitoring this metric. If the trend persists, it could contribute to downward pressure on BTC’s price. Bitcoin NVT Ratio. Source: Glassnode The Fear and Greed Index, a barometer for market sentiment, is now in the “extreme greed” zone, which has historically signaled potential reversals in Bitcoin’s price. Extreme greed often indicates that investors are overly optimistic, leaving the market vulnerable to sudden sell-offs. While Bitcoin has demonstrated resilience during similar conditions in the past, this heightened sentiment could mark a tipping point. Combined with declining transaction activity, BTC’s macro momentum may face increasing challenges in sustaining its current price levels. Bitcoin Fear and Greed Index. Source: Glassnode BTC Price Prediction: Finding Support Bitcoin is currently trading at $90,673, holding above the critical support of $88,691 while facing resistance at $92,000. If BTC consolidates within this range over the next few days, it could fend off a broader correction and maintain stability. However, a break below the $88,691 support could trigger a decline toward $85,000. If this level fails to hold, Bitcoin risks falling further to $80,301, exacerbating bearish sentiment. Bitcoin Price Analysis. Source: TradingView Conversely, a bounce off $88,691 and a successful breach of the $92,000 resistance could revive bullish momentum. This would allow Bitcoin to aim for a new ATH above $93,242, effectively invalidating concerns of a reversal and reinforcing its long-term upward trajectory.
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