Category: Cryptocurrency News

I remember it well. It was my first cycle, in fact I'd only been involved with crypto around 8 months at this point. In my naivety I thought this ad was great news for crypto, a sign of real bullishness and an exciting new level of awareness for all of crypto. I feel far more…
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After weeks of consistent price correction, Bitcoin latest performance now appears to be demonstrating a rebound as the asset has earlier today reclaimed the $96,000 price mark now approaching the $98,000 level. As Bitcoin approaches this key level, data shows that the top crypto has shown mixed signals across key market indicators, reflecting a subtle yet significant shift in investor sentiment. Particularly, analysts have identified specific patterns in funding rates and premium metrics, which serve as vital tools for interpreting market sentiment and predicting potential price movements. Related Reading: Bitcoin Decline Continues: Is $86,800 The Level To Watch? Bitcoin Current Funding Rates And What It Signals A notable observation by CryptoQuant analyst Mignolet highlights how funding rate movements reflect retail investor sentiment. According to Mignolet analysis, funding rates, which represent the cost of holding long or short positions in perpetual futures contracts, are exhibiting nuanced movements. Historically, during moments of strong resistance, funding rates tend to decline, signaling subdued sentiment and caution among investors. In late October 2024, when Bitcoin was approaching its all-time high, funding rates showed similar behavior, reflecting investor hesitation despite rising prices. However, the current scenario presents a contrasting sentiment. The analyst disclosed that while corrective price movements have emerged, investors are viewing these pullbacks as buying opportunities rather than reasons for fear or contraction. This subtle psychological difference could influence market dynamics significantly, potentially paving the way for sustained upward momentum.  Mignolet wrote: Similar corrective candles have appeared, and from a technical perspective, this position might seem even more precarious. However, the sentiment is different. People now view this as an opportunity and believe it’s a reasonable position to buy. I believe this subtle difference in sentiment has the potential to produce very significant results. Coinbase Premium Indicator Reaches Historic Low Another key observation comes from the Coinbase Premium Indicator, a metric that measures the price difference between Bitcoin on Coinbase (a US-based exchange) and other global exchanges. Coinbase Premium Index Hits a 12-Month Low! “This drop not only signals a lack of institutional demand but also underscores the cautious sentiment among U.S. investors.” – By @burak_kesmeci Read more 👇https://t.co/nIRWlciLwo pic.twitter.com/LYfKmNM7t5 — CryptoQuant.com (@cryptoquant_com) January 2, 2025 Recently, this premium dropped to its lowest level since January 2023, a period that marked a significant market bottom. Historically, when this premium turned negative during bullish phases, it often preceded a price rebound. Related Reading: Warning Signs For Bitcoin? Binance Trading Volume Drops As Sellers Take Control Analysts suggest that such negative sentiment from US investors often triggers strong buying pressure, which can reverse short-term downward trends and fuel long-term price gains. Featured image created with DALL-E, Chart from TradingView

An analyst from H.C. Wainwright & Co., one of America’s most established financial institutions, anticipates an exhilarating year for bitcoin, driven by clearer regulations and enhanced institutional involvement. H.C. Wainwright’s Mike Colonnese Predicts Bitcoin to Hit $225K On Jan. 2, a CNBC report highlighted insights from H.C. Wainwright & Co., a Boston-based investment bank, indicating […]

The rumors come two days after X CEO Linda Yaccarino confirmed the social media platform would launch X Money in 2025.

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Technical analysis shows that Shiba Inu is currently at a critical juncture where it could either rebound to new multi-year highs or face declines to retest a few support levels. In light of this, a recent analysis on TradingView has highlighted crucial support and resistance levels that could dictate SHIB’s short-term movements. This analysis was made on the daily candlestick timeframe chart of SHIB against Tether (USDT), which reveals the potential for a substantial rally toward $0.000045 if key resistance levels are broken. Major Support And Resistance Levels For Shiba Inu According to the analysis, two significant resistance levels are important in SHIB’s path to the upside. The first is at $0.00003239 and represents an immediate hurdle that could attract sellers or trigger profit-taking. This is more revealing, considering it acted as resistance in December 2024. A decisive move above this level would signal bullish momentum.  Related Reading: Bitcoin Bearish Flag Pattern Says Crash Is Far From Over Despite Crash To $91,000 The second resistance level is at $0.00004563 and is considered a psychologically significant barrier that might test the strength of market optimism. This is because this price level serves as the peak of Shiba Inu’s price movement in early 2024. If the bulls were to complete a successful move above $0.00004563, it could signal a move that would push Shiba Inu to challenge its current all-time high. On the downside, there are also two critical support levels that could prevent further SHIB price declines. The first notable support is at $0.00001035. Shiba Inu rebounded quite a few times on the upper end of this support zone in 2024, with the most notable bounce taking place on August 5. Historically, this level has demonstrated strong buy interest, making it a potential floor for the current trend. However, if the price fails to hold above this critical support level, the situation could shift significantly. A break below $0.00001035 would likely diminish buyer confidence, paving the way for SHIB to test even lower levels of support. Technical Indicators And SHIB Trading Strategy The analysis notes that key indicators, such as the MACD and RSI, currently suggest a neutral to slightly bearish sentiment for Shiba Inu. The MACD is flat with minimal momentum, while the RSI hovers near 40, slightly below the midpoint. These indicators, coupled with subdued trading volume, suggest that traders are awaiting a decisive breakout or break below the Shiba Inu price. Related Reading: XRP Price Forms Descending Triangle On The Daily Chart, Why $1.95 Is Important For bullish traders, a stable upward move at this point could point to a target at $0.00003239 in the short term, with $0.00004563 as a longer-term goal. Conversely, a break below $0.00001035 could reinforce a bearish scenario. At the time of writing, Shiba Inu is trading at $0.00002239 and is up by 8% in the past 24 hours. According to a similar support level analysis by crypto analyst Ali Martinez, the $0.0000215 to $0.0000193 support zone must hold in order for Shiba Inu to stay bullish. Featured image created with Dall.E, chart from Tradingview.com

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End of the year data reveals a thrilling climb in the total value locked in decentralized finance (defi), which ballooned by 133.8% over the past year. December capped off this exciting trend with a flurry of activity as defi and onchain protocols amassed more than $1.5 billion in total revenue during the previous 30 days, […]