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Financemagnates
1w
404
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Why Is Bitcoin Down Today? BTC Price Sees Sharpest Drop in 135 Days
- Bitcoin (BTC) is facing significant volatility following the Federal Reserve's (Fed’s) latest monetary policy announcement.
- Bitcoin touched $98,760 in a sharp downturn, losing nearly $10,000 from its recent all-time high (ATH).
- This marked the largest single-day drop since August 5. $661 million in leveraged long positions have been liquidated in the cryptocurrency market.
- Federal Reserve's hawkish stance on future interest rate cuts caused the decline and reassessment of risk positions across assets.
- Bitcoin fell by 5.6% during Wednesday's session, testing levels below the $100,000 mark again.
- The cryptocurrency market's reaction mirrors the complex interplay between monetary policy and digital asset valuations.
- Ethereum (ETH), XRP, Solana, and Dogecoin also saw losses.
- Market specialists suggest the possibility of short-term price movements toward the low $90,000 range.
- Bitcoin benefits short-term support provided by the 20-day exponential moving average (20 EMA).
- VanEck forecasts $180,000 for Bitcoin by Q1 2025 and anticipates the ongoing crypto bull market to culminate in its first major peak during Q1 2025.
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Cryptoticker
1w
75
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Will Bitcoin Price Crash to $40,000?
- Bitcoin price has been on a rollercoaster ride lately, with its value slipping under $100,000 during late U.S. trading hours before bouncing back slightly in early Asian hours.
- The recent dip in Bitcoin's price can be attributed to a combination of macroeconomic signals and regulatory uncertainty.
- The Federal Reserve's hints about potential rate cuts in 2025 initially created some market optimism, but this was quickly overshadowed by remarks from Fed Chair Jerome Powell, dampening investor sentiment.
- This regulatory uncertainty, combined with market jitters over Trump's campaign promise to retain and possibly expand the government's seized Bitcoin holdings, has likely contributed to increased volatility.
- The question of whether Bitcoin's price could crash to $40,000 hinges on a mix of macroeconomic factors, market sentiment, and regulatory uncertainty.
- While Bitcoin's journey to $40,000 remains within the realm of possibility under worst-case scenarios, its resilience as a decentralized asset and ongoing demand as an inflation hedge make a crash of this magnitude improbable in the near future.
- The next critical milestones will be clear guidance from the incoming administration and how markets react to evolving monetary and fiscal policies.
- Investors should brace for heightened volatility but also recognize the opportunities that Bitcoin's price fluctuations may present in this uncertain environment.
- The market's reaction to Trump's policies, particularly their inflationary effects, will be a key determinant.
- Persisting inflation could erode confidence in traditional assets, potentially driving more interest in Bitcoin as an inflation hedge.
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NullTX
1w
321
Image Credit: NullTX
2024’s Crypto Elite: Unveiling the Power Players Among Best Cryptos Revolutionizing Your Wallet
- BlockDAG (BDAG) is a prominent digital asset leading the way with its cutting-edge technology and user-centric innovations.
- Ethereum (ETH) remains a cornerstone of the crypto community with its transition to Ethereum 2.0.
- BNB (Binance Coin) plays a crucial role in the Binance ecosystem and stands as a promising investment.
- Solana (SOL) offers lightning-fast and efficient blockchain transactions, attracting developers in the DeFi and NFT arenas.
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Cryptoslate
1w
126
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Polygon rejects proposal to bridge funds into Morpho to drive DeFi growth
- The Polygon community rejects a proposal to deploy $1.3 billion in stablecoins from its PoS bridge to Morpho for DeFi growth.
- Concerns were raised about the lack of a consent mechanism and potential risks to the network.
- Critics highlighted risks to the stability of Polygon's ecosystem and the potential for liquidity crises.
- Aave-Chan Initiative founder Marc Zeller submitted a counter-proposal, causing a dispute with Aave.
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Cryptoslate
1w
138
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Bitcoin sees wealth shift from long-term holders to new investors – Glassnode
- Bitcoin's ongoing bull market has resulted in a wealth shift from long-term holders to new investors, according to a Glassnode report.
- The redistribution of wealth indicates the maturing of Bitcoin markets, with long-term holders realizing record profits, while new investors absorb the supply.
- Growing institutional participation and strong retail interest have contributed to the expanding depth and diversity of the Bitcoin ecosystem.
- Despite profit-taking by long-term holders, new investors have provided liquidity and supported Bitcoin's upward momentum.
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Cryptoslate
1w
322
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Deutsche Bank to develop Ethereum layer-2 blockchain to tackle TradFi compliance issues
- Deutsche Bank is developing a layer-2 blockchain based on Ethereum to address compliance issues in traditional finance (TradFi).
- The platform, named Project Dama 2, aims to utilize blockchain technology while mitigating risks related to public ledgers and transactions with sanctioned entities or criminals.
- Project Dama 2 leverages ZKsync's zero-knowledge proof technology for cheaper and more efficient transactions, offering enhanced privacy and customization.
- Deutsche Bank is partnering with Memento Blockchain and Interop Labs for the development of Project Dama 2, which is part of Singapore's Project Guardian.
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Coinjournal
1w
305
Image Credit: Coinjournal
WazirX (WRX) token dumps after Binance delisting news
- The WazirX token's price fell more than 60% in 24 hours after Binance's delisting announcement.
- WRX, AKRO and BLZ will all be delisted from the Binance platform.
- WazirX has faced challenges since its $230 million hack earlier this year.
- The WazirX token dumped hard on Wednesday after the world’s largest crypto exchange Binance announced the delisting of the native WazirX token.
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Coinjournal
1w
364
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Bitcoin slips after Fed’s interest rate decision
- Bitcoin price fell nearly 6% to below $100,500 as the US Federal Reserve announced a 25 bps interest rate cut.
- The Fed signaled a 50 bps rate cut for 2025, dampening risk appetite and leading to a 2.5% drawdown in the S&P 500.
- The market reacted negatively to Fed Chair Jerome Powell's remarks, viewing them as a more cautious stance signaling the end of the easing cycle.
- Other top coins, including ETH and XRP, also experienced significant price drops.
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Cryptoslate
1w
92
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Bitcoin falls to $100,000 following hawkish FOMC despite 25bp rate cut
- Bitcoin (BTC) fell to a low of $100,300 following hawkish comments by Fed chair Jerome Powell during the Federal Open Market Committee’s (FOMC)
- Bitcoin was trading at $100,740 as of press time, down 5.7% over the past 24 hours
- The wider crypto market experienced similar losses, with Ethereum (ETH) down 6.8% over the past day
- The US stock market also reacted negatively to Powell’s remarks. The S&P 500 closed with a 1.55% drawdown
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Cryptopotato
1w
50
Image Credit: Cryptopotato
Bitcoin Price Tumbles Toward $100K Despite Fed’s Latest Rate Cut
- The United States Federal Reserve announced a third consecutive rate cut, causing bitcoin's price to plummet to a multi-day low of $100,250.
- Fed Chair Jerome Powell's hint at halting interest rate reductions due to alarming CPI data may have contributed to the downward trend in the crypto market.
- Bitcoin's decline of more than $8,000 within 36 hours, along with altcoins experiencing significant losses, resulted in a total crypto market cap decrease of $200 billion.
- Nearly $700 million worth of positions were liquidated, with over 250,000 traders being affected.
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NullTX
1w
238
Image Credit: NullTX
Dogecoin Price Crash Leads Whales to Quietly Buy into an AI Altcoin Set for 50,000% Growth
- The Dogecoin price crash has caused many savvy investors to look towards new cryptocurrencies and emerging assets with long-term potential, leading many to cryptos such as the AI altcoin PCHAIN.
- PCHAIN combines cutting-edge blockchain technology with machine learning capabilities to help users change how they invest in real estate.
- Top market analysts predict that PCHAIN could deliver staggering returns in the region of 50,000%, marking a growing trend where the market rewards innovation and utility over hype and momentum.
- Crypto whales, who have a big reputation for influencing market trends in their favour, are quietly accumulating PCHAIN as Dogecoin price continues to plummet to its lowest level in recent months.
- PCHAIN's solid fundamentals, which include digitizing real estate assets on the blockchain, are the main motivation behind whales' big move toward this emerging altcoin.
- PropiChain is behind PCHAIN, a blockchain-powered real estate platform set to revolutionize the USD 600 trillion global real estate market using the best of AI, smart contracts, and RWA tokenization technology.
- PropiChain uses AI-powered virtual assistants, predictive market analysis tools, and smart contracts, including automating real estate processes, to facilitate efficient and high-profit real estate investment for users.
- PCHAIN raised over USD 1.3 million from its first presale round, which augurs great things for investors in the cryptocurrency world.
- PCHAIN is listed on CoinMarketCap, a great sign for a project already recording such great strides in the cryptocurrency world.
- Potential investors and those interested in the project can visit PropiChain for more information about the ongoing second presale round of the AI altcoin.
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Financemagnates
1w
12
Image Credit: Financemagnates
Will Binance's BNB Reach $1000? Price Prediction Amid Legal Challenges in Australia
- Binance's native token, BNB, has dropped 1.5% in the past day, despite legal challenges in Australia.
- The Australian Securities and Investments Commission (ASIC) is suing Binance Australia for misclassifying retail investors.
- BNB is currently ranked sixth with a market capitalization of $103 billion.
- BNB's price reaching $1,000 depends on strong fundamentals and overall positive crypto sentiment.
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Bitcoinmagazine
1w
192
Self Custody For Me, But Not For Thee
- The argument that most people won't self-custody their Bitcoin is fallacious and assumptive.
- Many users are unaware of the distinction between self-custody and holding coins on exchanges.
- Fear of losing keys is a common reason why users choose not to self-custody.
- Advancements in key management technology and recovery-friendly self custody schemes will change attitudes towards self-custody.
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Cryptonewsz
1w
75
Image Credit: Cryptonewsz
Is Ethereum Price Going Parabolic? Long-Term Holders Signal ‘Greed Mode’
- Long-term holders of Ethereum remain confident and continue to accumulate ETH, signaling a potential major price rally.
- The market is currently in the early stages of the belief phase, suggesting a big move for ETH could be forthcoming.
- Ethereum's price struggles to surpass $4,000 resistance, with sellers defending the level and signaling high selling pressure.
- A bearish reversal from $4,000 could cause a 10% drop to $3,500, seeking support at the 50-day Exponential moving average.
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Cryptoslate
1w
314
Image Credit: Cryptoslate
Delhi High Court orders new probe into WazirX amid Binance delisting
- The Delhi High Court has ordered a fresh investigation into Indian crypto exchange WazirX.
- The probe is in response to allegations of a previous hack and concerns regarding financial irregularities.
- The court's directive was prompted by a petition filed for criminal proceedings against WazirX in connection with a 2024 breach.
- Binance announced the delisting of WazirX's native token WRX due to non-compliance.
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