Category: Cryptocurrency News

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, […]

Data shows the Bitcoin Coinbase Premium Index has witnessed a plunge to two-year lows recently. Here’s what this could mean for BTC’s price. Bitcoin Coinbase Premium Index Has Plummeted Over The Past Month As explained by an analyst in a CryptoQuant Quicktake post, the BTC Coinbase Premium Index has seen a sharp drawdown into negative territory recently. The “Coinbase Premium Index” here refers to an indicator that keeps track of the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). This metric’s value can tell us about the difference in the buying and selling behaviors of the investors present in the two cryptocurrency exchange giants. More specifically, the indicator represents how the moves of the American institutional entities (the dominant force on Coinbase) differ from those of the global whales. When the Coinbase Premium Index has a positive value, it means the asset is trading at a higher rate on Coinbase than on Binance. Such a trend implies that US-based whales participate in a higher amount of buying (or a lower amount of selling) than global investors. Related Reading: Bitcoin Decline Continues: Is $86,800 The Level To Watch? On the other hand, the metric being under the zero mark suggests that Binance users are the ones taking part in the higher amount of buying, as the coin is going for a higher price there. Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past year: As displayed in the above graph, the Bitcoin Coinbase Premium Index was at a positive level during the cryptocurrency’s exploration of new highs in the last two months of 2024. The pattern observed throughout the year was that the American institutional investors occupied the driving seat in the market, with shifts in buying and selling pressure from them reflecting in the asset’s price. Around mid-December, the indicator started to dip into the negative territory and has since maintained the trajectory. BTC’s spot value has also shown a downward trajectory alongside this trend, so it seems that Coinbase users continue to play a prime role in the sector. Following the latest continuation of the drop, the Coinbase Premium Index has dipped lower than the low from October. In fact, the indicator has now been at its lowest value since November 2022, more than two years ago. Related Reading: Bitcoin Sentiment Now Worst Since Mid-October: Reversal Signal? Considering that the Coinbase whales have been important for Bitcoin’s direction in the past year, the indicator being locked in a downtrend could spell further doom for the cryptocurrency’s price. That said, the asset has historically tended to bottom out when selling pressure has become too strong on Coinbase, as eventually new buyers start showing up to take coins at a cheaper rate off the hands of the sellers. The sharp negative spike alongside the FTX crash also resulted in a major bottom for BTC. It only remains to be seen, though, whether the FUD from the US-based investors has reached a high enough level for a bottom or not. BTC Price Bitcoin has kicked the new year off on a positive note as the asset’s price has seen a recovery rally to the $96,600 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

The Terraform Labs co-founder was indicted on eight felony charges in 2023 but will likely face an additional count for money laundering conspiracy.