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Cryptocurrency trader and author Scott Melker has emphasized that after XRP’s explosive move from trading below the $1 mark, the token still has significant potential for a big move in the near future. According to Melker, XRP’s path to becoming the “next big mover” involves more than just its recent history of rapid price action, he explained in an interview with David Lin published on May 17. Melker highlighted that XRP’s breakout was driven by several key developments, including its effective classification as “not a security,” which removed a major regulatory overhang. This legal clarity allowed the token to gain momentum in the optimism of the post-election market.  Further boosting sentiment, XRP was included in spot exchange-traded fund (ETF) applications and the possibility of being part of the United States’ strategic digital asset stockpile, reinforcing its status as a major player in the market. However...

Bitcoin (BTC) is on course to realize the ‘Uptober’ phenomenon, with the maiden cryptocurrency set to achieve a monthly close on record.  Indeed, this momentum emerged after Bitcoin began the month by posting a lackluster performance as bulls battled to breach $70,000. At press time, the asset was trading at $71,152, reflecting a monthly gain of about 14%, marking the best monthly close ever.  Picks for you Gold price prediction for 2025 4 mins ago Nexo announces a major rebrand as an all-encompassing digital asset wealth platform 1 hour ago Pudgy Penguins and Mythical Games reveal  Pudgy Party, a new AAA mobile game ...

Bitcoin (BTC) is making a positive September despite the historically negative returns during what the market calls the “September Effect.” Traders and investors are now looking ahead to the upcoming “Uptober,” the market’s moniker for a historically positive month, October. Finbold retrieved Bitcoin monthly returns from CoinGlass on September 25, so far registering nearly 8% gains for this month.  Notably, October has average and median results of 22.9% and 27.7%, respectively, since 2013, explaining the moniker. Meanwhile, the “September Effect” results in a negative 3.72% and 4.35% average and median for the current month. Picks for you Crypto trader turns $1.3k into $3.4 million in 15 days 1 min ago ...

Bitcoin and several major altcoins continue to show weakness, but a few data points do favor bulls in the short-term. Bitcoin (BTC) has been trading between $25,333 and $26,156 since Sep. 1. Typically, a volatility squeeze is followed by an expansion in volatility but it is difficult to predict the direction of the breakout with certainty.  CoinGlass data shows that Bitcoin has fallen for six consecutive years in September. This historic data could keep the bulls at bay in the near term and embolden the bears. Additionally, the United States dollar index (DXY) which has an inverse correlation with Bitcoin has risen sharply in the past few weeks. Both these suggest that Bitcoin could remain under pressure in the short term. Daily cryptocurrency market performance. Source: Coin360 It is not all gloom and doom for the crypto bulls because lower levels are likely to attract buyers. The prospect of one or more Bitcoin spot exchange-traded fund applications receiving approvals may limit the...

Bitcoin’s (BTC) price has been consolidating around the $26,000 mark after its sudden decline from $29,000 on Aug. 18. With the recent regulators’ scrutiny, data shows that BTC might be headed to the bear zone. According to the market intelligence platform Santiment, Bitcoin’s social volume has dropped by almost 88% over the past 24 hours. The notable fall comes as the asset’s price struggles to stay above the crucial $26,000 mark. BTC price, whale activity, social volume and exchange inflow – Aug. 28 | Source: Santiment Quite similarly, the number of BTC whale transactions, consisting of at least $100,000 worth of Bitcoin has also plunged from 4,210 to 755 over the past day, marking an 81.5% decline, according to Santiment. You might also like: Meet the whales: Bitcoin’s biggest holders and their market influence On the other hand, Bitcoin investors are still HODLing their assets, probably aiming at a higher price now as data suggests that BTC’s exchange inflow ...

Bitcoin and most major altcoins are reeling under intense selling and charts suggest that the market sell-off is not complete. A tight range usually resolves with a range breakout and that is what happened in Bitcoin (BTC) on Aug. 17. Bitcoin fell sharply, resulting in a $1 billion liquidation for derivatives traders, the biggest since the FTX collapse in 2022. It is difficult to pinpoint any specific reason for the sell-off but analysts believe that the confusion arising from the alleged write-down of SpaceX’s $373 million Bitcoin holdings may have been one of the potential triggers. Daily cryptocurrency market performance. Source: Coin360 Whatever the reason, the decline has started. The next major question troubling investors is how low could Bitcoin fall. Several analysts have turned bearish and expect Bitcoin to continue its downtrend in the near term. Will Bitcoin continue to drop, dragging the rest of the cryptocurrency markets with it? What are the important support levels to...

Glassnode reports a record 2.9 million BTC, valued at $82.5 billion, untouched for ten years . It underscores long-term holders’ faith amidst market fluctuations. Glassnode data shows that the amount of Bitcoin that has not been moved for at least ten years just hit a new all-time high of nearly 2,900,000 BTC — or about $82.5 billion. #Bitcoin $BTC Amount of Supply Last Active > 10y just reached an ATH of 2,895,599.067 BTC View metric:https://t.co/lBBwEqVviB pic.twitter.com/8gZJzStNEw — glassnode alerts (@glassnodealerts) August 17, 2023 This means that the quantity of Bitcoin held for at least ten years keeps increasing and reaching new heights, suggesting that long-term investment is alive and kicking. Similarly, the percentage of Bitcoin’s supply that has not moved for at least five years reached a new record of 29.202% on Aug. 16. Nearly one-third of Bitcoin’s total supply has been kept in a single wallet for at least five years . The same is ...

Markets continue to slump, giving advantage to the bears and hinting at a trend change to the downside. Bitcoin (BTC) continues to trade inside a narrow range with no clear signs of a breakout from it. Trading platform QCP Capital said in their latest market update that Bitcoin may remain quiet for a few more weeks before making its move in September.  Delphi Digital co-founder Kevin Kelly believes that the cryptocurrency markets are in the early stages of a new bull cycle. Based on a study of Bitcoin’s four-year cycle patterns, Kelly expects Bitcoin to hit a new all-time high by Q4 2024 and a new cycle peak by Q4 2025. Daily cryptocurrency market performance. Source: Coin360 Similarly, Bitcoin investor and author Jesse Myers also maintains a bullish view for the long term but he does not expect Bitcoin to reach $100,000 before the next halving. Myers believes that the market will take 12-18 months after halving to price-in the effects. Will Bitcoin and the major altcoins remain range...

Bitcoin cash (BCH), a cryptocurrency that originated as a fork of bitcoin, aims to enhance transaction efficiency for both individuals and businesses, and it has remained a prominent player in the top 50 cryptocurrencies based on market capitalization. In Q2 of 2023, BCH experienced a substantial 104% surge in price, which can be attributed to its listing on EDX Markets. Skyrocketing value According to CoinGecko reports, June 2023, bitcoin cash (BCH) experienced a remarkable surge , reaching a yearly high of $320, marking an impressive increase of nearly 200% from its opening price of $110 at the beginning of the same month. The market capitalization of bitcoin cash also soared past $6 billion during this period. Moreover, daily trading volume skyrocketed from an average of $52 million to over a billion dollars in the final weeks of June. $BCH has surge d by 166.3% over the past 2 weeks , earning its place on the list of top gainers in Q2 2023. In this article, we delve into t...

ETH price rallied as deposits briefly surged after the Shapella, but on-chain data suggests that 1.4 million ETH will be withdrawn in the short-term. Ethereum’s long-anticipated Shanghai and Capella upgrade was activated on April 12 and the total withdrawal s in the first 40 hours after the Shapella upgrade stood at 142,425 ETH, per Nansen data. This falls in line with previous estimates.  For a brief moment on April 12, when Shapella was activated, the deposits to ETH staking contracts outpaced withdrawals. However, deposits have slowed down come April 13 while the withdrawals are going strong. ETH moved for withdrawals The validators are required to update their staking software clients with withdrawal credentials changed to 0x01 from 0x00 and point to a valid Ethereum address. Once validators do that, the partial withdrawals, i.e. the withdrawals of rewards above 32 ETH, will be processed automatically. Over 70.1% of validators have changed to 0x01, with 407,851.20 worth over $850...