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TheNewsCrypto
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Is Bitcoin (BTC) Price Facing a Persistent Downward Pressure?
- Bitcoin's price dropped by 2.54% in the last 24 hours.
- Altcoins like Ethereum and Solana also fell to previous support levels.
- Bitcoin is experiencing a persistent downward pressure in price actions.
- US spot Bitcoin ETFs recorded negative inflows, with outflows of $30.59 million.
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Tokenhell
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Price Analysis October 10th, 2024 – BTC, BNB, ETH, SOL, ADA, and SHIB
- Bitcoin bears have pulled the coin below $62,000 support, indicating low demand.
- BTC support levels to watch if it drops below $60,000: $57,552.
- Ethereum struggles to stay above $2,487 support, may drop to $2,300.47.
- BNB remains above $567.94 support, targets $635.77 if it breaks resistance.
- Solana fails to protect key levels, bears in charge, may drop to $133.55.
- Cardano faces strong bearish presence, could drop to $0.2451 support.
- Shiba Inu blocked below $0.00001703 support, potential rally to $0.00002606.
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Bitcoinsensus
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FBI Exposed Large Crypto Manipulation Scheme Using Token NexFundAI
- FBI uncovered an alleged crypto scheme by 8 individuals and four major crypto firms
- FBI launched its token NexFundAI to obtain data and uncover wash trading manipulation
- Gotbit, ZM Quant, CLS Global, Gotbit, and MyTrade were among the largest companies involved.
- The FBI seized more than $25 million in cryptocurrency and deactivated trading bots
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Stackexchange
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What’s the Most Frictionless Way to Get Bitcoins into My Wallet?
- A total noob in crypto is looking for the most direct and frictionless way to get bitcoins into their Trezor wallet.
- Currently, they had to sign up and buy the coins via independent reserve, then transfer it to their wallet address, which incurred charges and seemed convoluted.
- They are wondering if there is a more direct way to avoid these extra transfers.
- They also inquire about the safety of keeping a copy of the QR code on their phone and using it at a bitcoin ATM or sharing it via WhatsApp to receive bitcoins directly into their Trezor wallet.
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Bitcoinist
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Crypto Scandal: Here’s How This 86-Year Old Defrauded Investors And Later Got Caught
- David Kagel, an 86-year-old former attorney, has been sentenced to five years probation and ordered to pay nearly $14 million in restitution for his involvement in a crypto Ponzi scheme.
- Kagel and his accomplices operated the scheme between December 2017 and June 2022, luring investors with promises of high returns and minimal risk.
- Using his law firm's letterhead, Kagel created an illusion of legitimacy and misled investors into believing they were partaking in a trustworthy venture.
- Kagel's actions led to the widespread promotion of the fraudulent program, which amassed millions in victim funds before being exposed by authorities.
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Bitcoinist
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Bitcoin Supply ‘Is Held By Confident Holders’ – Metrics Hint At Bullish Outlook
- Confident holders hold a substantial portion of the Bitcoin supply, indicating a strong belief in Bitcoin's long-term value.
- The recent dip in Bitcoin price is seen as a healthy market reaction to the aggressive surge following the Federal Reserve's interest rate cut.
- The Unspent Transaction Output (UTXO) supply in loss approaching 20% suggests a significant portion of Bitcoin's supply is held by confident holders.
- Bitcoin's price stability above the 4-hour 200 exponential moving average (EMA) and resistance levels will determine its future bullish momentum or potential correction.
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Cryptonews
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“I Am Not Satoshi”, Peter Todd and Crypto Community React to Wild Claims
- Peter Todd denies being Satoshi Nakamoto in response to HBO documentary.
- Todd expresses concerns about criminals targeting him for access to Satoshi's alleged fortune.
- He mocks the documentary and takes a dig at Craig Wright on social media.
- Crypto community criticizes the documentary and remains skeptical about its claims.
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Cryptonews
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Analysts Keep Eyes Firmly On $135K Bitcoin Target Despite Short-Term Risks
- Crypto market shows downturn with major assets like BTC and ETH falling, and the Fear & Greed index indicating fear.
- Dan Gambardello targets a US$135K Bitcoin by 2025, despite potential short-term declines.
- Timothy Peterson predicts a 30-60% BTC increase this quarter, eyeing US$100K by year’s end.
- Matt Hougan links Bitcoin’s potential US$80K rise to US elections, economic changes, and a lack of negative surprises.
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Cryptonews
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Major Cryptos Tumble as Sentiment Turns Negative For ETH, BTC, SOL
- The cryptocurrency market has dropped 2.55% in the last 24 hours, bringing the total market cap to US$2.11T.
- October has seen lackluster performance across major assets like Bitcoin, Ether, Solana, Chainlink, and XRP.
- Over 62,000 traders were liquidated in the past day, with total liquidations reaching US$170 million.
- The Fear and Greed Index for Bitcoin is pulling back, indicating increasing levels of fear among traders.
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Newsbtc
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Bitcoin Price Extends Decline: Can $60K Serve as a Lifeline?
- Bitcoin price extended losses and traded below the $61,850 zone.
- Bitcoin is struggling to start a fresh increase above $62,850 zone.
- There is a connecting bearish trend line forming with resistance at $61,250.
- Bitcoin price could initiate another decline if it fails to rise above the $61,250 resistance zone.
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Newsbtc
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Dogecoin Vs. Bitcoin: Gauging The Performances Of Two Crypto Giants This Cycle
- Crypto analyst James suggests that Dogecoin (DOGE) will likely outperform Bitcoin (BTC) in this market cycle.
- Since its launch in 2013, Dogecoin has consistently outperformed Bitcoin in every cycle despite significant drawdowns.
- Dogecoin has experienced substantial price gains in previous bull markets, surpassing 54,000% in 2018 and 54,800% in 2021.
- Despite lagging behind Bitcoin in the current market cycle, analysts predict that Dogecoin could still outperform BTC if it reaches its potential price target of $1.
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Bitcoinist
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Dogecoin Founder Reveals Who He Believes Is Satoshi Nakamoto
- The HBO documentary 'Money Electric: The Bitcoin Mystery' suggests that Canadian Bitcoin developer Peter Todd is Satoshi Nakamoto, the creator of Bitcoin.
- However, Todd and Billy Markus, co-founder of Dogecoin, have denied this identification.
- Markus hinted that Hal Finney, a renowned computer scientist and early participant in the Bitcoin network, could be Satoshi Nakamoto.
- Arguments both supporting and refuting the possibility of Hal Finney being Satoshi Nakamoto exist.
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Cryptopotato
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Peter Schiff Tells Michael Saylor to Take $4.3B Loan to Buy U.S. Government Bitcoin
- Renowned economist Peter Schiff suggests Michael Saylor to take a $4.3 billion loan to buy U.S. government Bitcoin.
- Schiff's comment sparks debates among Bitcoin supporters and critics.
- Saylor, CEO of MicroStrategy, has been acquiring billions in Bitcoin despite Schiff's criticism.
- Schiff argues that Bitcoin lacks real value compared to gold, leading to further pushback from Bitcoin supporters.
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Hackernoon
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Crypto Astrology: Eclipses, Hacks, and Blood Baths
- The idea that events in the heavens have real-world effects is an ancient one, but could astrological events like solar and lunar eclipses really have an impact on the crypto market? Some analysts have noticed a correlation between eclipses and market volatility: for example, around the time of annular eclipses, the crypto market has seen large price dips. Meanwhile, half of lunar eclipses between 2014 and 2022 coincided with significant crypto downturns.
- Statistically, it is hard to explain such events as mere coincidence, although analysts concede that no direct causal link has yet been established. Some argue that hackers may be intentionally targeting the market around times of astral upheaval; others suggest that the market follows human psychology, which can be influenced by astrological events.
- Some of the worst crashes that have hit the crypto market also happen to have occurred around lunar eclipses. For example, on May 16, 2022 there was a total lunar eclipse, and around the same time Terra (LUNA) and its stablecoin UST completely imploded. Bitcoin fell below $26,000 and over $200bn vanished from the market in just 24 hours.
- While analysts differ in their opinions on the matter, there are some striking examples of crypto market movements lining up with celestial events, especially eclipses. The evidence is not yet conclusively in favor of astrology, but some analysts are investigating the links between astral events and the market further.
- After reviewing data around market movements and astral events, some researchers have come to the conclusion that "when the sun and moon line up, it’s not just a celestial show—it’s a cosmic alert for your portfolio."
- Ultimately, whether you believe the market is influenced by the stars or not, words to the wise: the crypto market is volatile. Be careful with your trades, make sure you have enough diversification, and never invest more than you can afford to lose.
- The idea of astral influences is not new, but crypto analysts now posit that solar and lunar events, like eclipses, have an effect on market movements. Statistically, it’s hard to explain away events that coincide with an eclipse as mere coincidence. Some researchers have suggested ascribing to astrological theories can protect financial investments, others remain skeptical about the tangible impact the stars have on the market.
- Around the times of annular solar eclipses, the crypto market has historically seen large price dips. Half of lunar eclipses between 2014 and 2022 coincided with significant crypto market downturns. Critics of the astrological explanation for market movements say that such events cannot be the focus of responsible investment advice.
- Investors and analysts continue to look for explanations behind the volatile crypto market and reasons for the cascading market crashes that have plagued the industry. For some, with increasing frequency coinciding with astronomical events around the world, may provide a key to unlocking why such events suddenly occur.
- At this stage, the evidence for astrology-driven impact on the crypto market is thin and researchers have yet to establish a direct causal link. However, that has not stopped analysts from taking a close look at market movements around past astronomical events and speculating about a possible link to future economic indicators.
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Bitcoinsensus
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Crypto.com’s Nadex Lists Memecoin Derivatives
- Crypto.com's Nadex has listed derivatives for memecoins PEPE, FLOKI, ELON, and BONK.
- Crypto derivatives are gaining popularity due to increased interest and sophisticated trading strategies.
- None of the listed memecoins have reacted favorably in the market following the Nadex listing announcement.
- Floki (FLOKI) and Dogelon Mars (ELON) have experienced slight decreases in value, while Pepe (PEPE) and Bonk Inu (BONK) have seen larger losses.
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