Author: dfmines

Bitcoin price is rising steadily above the $92,000 zone. BTC is showing positive signs and might continue to rise above the $95,000 level. Bitcoin started a fresh increase above the $92,000 zone. The price is trading above $92,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $93,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $95,000 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price remained supported above the $91,000 level. BTC formed a base and started a fresh increase above the $92,000 level. It cleared the $94,000 level and traded to a new high at $94,980 before there was a pullback. There was a move below the $94,200 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $94,980 high. However, the price is stable and consolidating near the $94,200 level. Bitcoin price is now trading above $93,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $93,800 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $94,800 level. The first key resistance is near the $95,000 level. A clear move above the $95,000 resistance might send the price higher. The next key resistance could be $98,000. A close above the $98,000 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 resistance level. Another Downside Correction In BTC? If Bitcoin fails to rise above the $95,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $93,700 level. The first major support is near the $92,800 level or the 61.8% Fib retracement level of the upward move from the $91,500 swing low to the $94,980 high. The next support is now near the $91,500 zone. Any more losses might send the price toward the $90,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $93,800, followed by $92,800. Major Resistance Levels – $94,800, and $95,000.

A Shanghai court ordered a partial refund after ruling a token fundraising contract illegal, citing violations of Chinese financial regulations. Token Fundraising Faces a Major Setback in a Shanghai Court Judgment The Shanghai High Court published details on Wechat Monday about a crypto-related case highlighting the legal complexities of virtual currency activities in China. The […]

submitted by /u/jtnichol [link] [comments]

The vulnerabilities caught the attention of the former CEO of Binance, Changpeng “CZ” Zhao who advised users to update their operating system immediately.

Bitcoin (BTC) reached an all-time high of $95,023 on Bitstamp today, gaining 4% against the U.S. dollar in the past 24 hours and 5.2% over the past week. With a market capitalization of $1.87 trillion, bitcoin now ranks as the seventh most valuable global asset, trailing Amazon. Bitcoin Hits $95,000, Bolstering $1.87 Trillion Market Cap […]

Bitwise would be competing with fellow asset managers VanEck and Canary Capital for an SEC-approved spot Solana ETF.

Donald Trump’s administration is reportedly considering a “crypto czar” role to oversee crypto policy, signaling sweeping changes in U.S. cryptocurrency regulation and innovation strategy. Crypto Czar Role Looms as Trump White House Eyes Bold Policy Overhaul President-elect Donald Trump’s incoming administration is reportedly considering a new White House role focused solely on cryptocurrency policy, according […]

BONK, the Solana-based meme coin, has been making headlines with its extraordinary performance since listing on the largest South Korean cryptocurrency platform, Upbit. Related Reading: Poland Could Lead With Bitcoin Reserve, Presidential Hopeful Says Upon listing, this solid upward trend catapulted BONK to its all-time high, raising its market capitalization to an impressive $4.2 billion. The trading volume of the token increased by 77%, indicating significant individual and institutional interest. Such frenzy ensured that the memecoin became the number one meme coin within the Solana network. Nevertheless, the accompanying positive sentiments (and anxieties) will lead investors to ask whether BONK will be able to keep the pace considering the historical volatility of the market. 신규 디지털 자산 봉크(BONK) 거래지원 안내 ✅ 지원 마켓: KRW 마켓 📅 거래지원 개시 시점: 2024-11-20 12:30 예정 🔗 공지 바로가기:https://t.co/r2DhwVlJcO#Upbit #BONK pic.twitter.com/vSTAAG5cLv — Upbit Korea (@Official_Upbit) November 20, 2024 Whales Join The BONK Party Institutional investors see BONK’s promise. A recent whale transaction shows the increasing faith in this meme coin: 65.4 billion BONK tokens for $3.4 million in USDC were bought. Such big sales not only confirm BONK’s popularity but also show how it affects Solana’s bigger ecology. The rise of the token has drawn more than just whales. Blockchain data shows that the amount of people interested in BONK futures topped $53.5 million, which is around seven times the monthly low. This means that traders are betting on BONK’s rising trend, even though such assets come with risks. Technical Breakthrough Fuels Optimism The recent end of BONK’s long-term consolidation period offers traders a hopeful signal. Experts say the major causes driving the meme coin’s rise are aggressive trading and increasing buying pressure. BONK temporarily exceeded joke currencies like DogWife when its price shot to $0.00005916 for a fresh ATH. At the time of writing, BONK was trading at $0.00005364, up 67% in the last seven days, data from Bitstamp shows. Nonetheless, analytical tools suggest that the buying pressure in the market is reaching its limits. This, however, may lead to some temporary downward movement, but experts are still positive on BONK coming back after a certain period. Although the token has retraced to $0.00005684, this hasn’t dampened the community enthusiasm. Related Reading: Solana Market Cap Hits Milestone: $400 Price Target Gains Traction Bright Future For BONK And Solana More than just a viral currency narrative, BONK’s explosive expansion is a triumph for the Solana ecosystem. The buzz around BONK has refocused attention on Solana, attracting fresh users and so strengthening its reputation as a top blockchain platform. At the same time, the prospect appears to be very optimistic, showing an increase of 252% in price expectations during the next three months, and a further 185% increase in six months. While the thrill of speculation is there, veteran traders ring in their warning. As BONK rides this wave, it’s clear the memecoin is no longer just a joke—it’s a phenomenon reshaping the crypto landscape. Featured image from SCMP, chart from TradingView

“Post-financial crisis regulation is over,” a top U.S. lawmaker has declared, calling for urgent reforms to digital asset oversight, regulatory transparency, and leadership accountability at federal agencies. Lawmaker’s Warning Signals Major Shake-up for Financial Oversight Agencies House Financial Services Committee Chairman Patrick McHenry criticized federal regulators during a Wednesday hearing, calling for updated financial oversight […]

Bitcoin reached a new all-time high yesterday, surging to $94,000 and solidifying the bulls’ control over the market. This milestone has ignited widespread speculation about the key factors fueling the rally, as Bitcoin continues to dominate headlines and capture investor enthusiasm.  Related Reading: Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed Key insights from CryptoQuant CEO Ki Young Ju shed light on the drivers of this historic surge. According to Ju, this rally has been powered by Coinbase investors, with U.S.-based buyers playing a significant role. The influx of demand from these investors underscores the growing domestic interest in Bitcoin and highlights the critical influence of American market participants on global crypto trends. Adding to the excitement, market sentiment appears to be heavily influenced by the pro-crypto stance of President-elect Donald Trump. His support for digital assets has sparked optimism across the industry, potentially creating a favorable regulatory environment that could sustain Bitcoin’s growth. Bitcoin Demand Continues To Drive The Price  Bitcoin demand remains remarkably strong, even as miners and long-term holders (LTHs) take profits during this rally. Despite selling pressure from these groups, BTC continues to rise, underscoring the robust market appetite for the leading cryptocurrency. This strength suggests buyers readily absorb the distributed supply, fueling Bitcoin’s bullish momentum. CryptoQuant CEO Ki Young Ju recently shared insightful data on X that highlights the driving forces behind this rally. According to Ju, U.S.-based investors using Coinbase have played a pivotal role in Bitcoin’s surge. He referenced the BTC Hourly Coinbase Premium (Volume-Weighted, USDT/USD Adjusted), which measures the difference in Bitcoin prices on Coinbase compared to other exchanges.  The premium is currently positive and growing, indicating that U.S. investors are willing to pay more for BTC than their international counterparts. This trend demonstrates strong demand from U.S. market participants, likely buoyed by improving market sentiment and potential regulatory optimism. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target If this upward momentum in U.S. demand persists, Bitcoin’s rally could extend further in the coming weeks, potentially setting new highs before any major correction occurs. However, as with all parabolic trends, traders and analysts remain cautious, recognizing the possibility of eventual pullbacks. The focus remains on Bitcoin’s strength, as buyers continue to outpace sellers, driving the market higher. BTC Setting New Highs (Again)  Bitcoin (BTC) is trading at $93,300, following its recent break above the all-time high (ATH) of $93,483. While this move marked a new milestone for BTC, the price has since entered a sideways range within a defined uptrend, indicating that demand continues to outweigh supply. However, the breakout above the ATH lacked significant momentum, resembling more of a small spring than a decisive rally. This suggests that bulls might be starting to lose steam. Despite this, BTC’s ability to maintain above $89,800 in the coming hours will be critical. Holding this key support level could pave the way for a surge to $95,000, aligning with broader market expectations of continued bullish momentum. Such a move would likely reaffirm confidence among investors, potentially driving further buying interest as Bitcoin eyes the psychological $100,000 level. Related Reading: Bitcoin Demand Outpaces Supply – On-Chain Metrics Reveal Low Seller Volume On the other hand, a drop below $89,800 would shift the short-term narrative. This scenario could lead to a retrace toward lower demand zones around $85,000, where buyers might regroup to push prices higher again. As BTC consolidates near its ATH, the market awaits a decisive move to determine whether the bulls remain firmly in control or if a temporary correction is on the horizon. Featured image from Dall-E, chart from TradingView