DeFi News Daily Official TheBitTimes.com

For the first time in many weeks, trading on Friday, December 20, raised the question of whether Bitcoin (BTC) will continue soaring like Led Zeppelin or if it will fall like a ‘lead zeppelin.’ Specifically, despite trading above $108,000 just days earlier – on December 17 – BTC collapsed to its press time price of $92,398 – a 9.52% 24-hour drop. BTC 7-day price chart. Source: Finbold Though the needle has moved somewhat in recent weeks, $92,000 has, on several occasions, been designated as the final stop before a plunge toward $85,000, most notably by the prominent cryptocurrency analyst on X, Ali Martinez. Picks for you Bloodbath: Crypto traders lose $1.4 billion in 24 hours of massive liquidations 1 hour ago XRP cr...

Ripple has moved its entire December reserves of 200 million XRP, worth $500 million, as XRP recovers from a crash. This selling pressure could impact the recovery and further price appreciation, absorbing a significant part of the incoming demand. Notably, the asset went through an aggressive correction after an impressive rally up to the 3rd position by market cap. XRP Ledger’s (XRPL) native token started crashing last week after dismissed rumors and concerning technical indicators, reaching the 4th position. Now, as XRP again struggles behind Tether’s USDT, its largest token holder, Ripple, has initiated a massive sell operation. On December 11, the company moved all the 200 million XRP reserved for December’s budget, following Finbold’s warning last week. Picks for you ChatGPT says Solana price will hit this target by December 31, 2024...

Bitcoin SLRV Ratio data performs a moving average crossover absent since before the FTX implosion hit the market. Bitcoin (BTC) could have dropped much more last week after one on-chain metric repeated its move from the FTX crash. As noted on Sep. 5 by James Straten, research and data analyst at crypto insights firm CryptoSlate, the SLRV Ratio has “flipped” for the first time since November 2022. Bitcoin SLRV Ratio channels FTX warning BTC price weakness is getting market observers ready for a drop toward $23,000, but the fallout from Bitcoin’s August comedown could have been much worse. According to the Short to Long-Term Realized Value (SLRV) Ratio, a spike in sales of “older” bitcoins occurred in mid-August. Devised by famed analyst David Puell and ARK Invest, SLRV uses the popular HODL Waves metric to track Bitcoin on-chain velocity. HODL Waves split up the circulating BTC supply by the age of coins used in transactions. SLRV takes coins that previously moved within the past 24 h...