Key Summary: The GENIUS Act aims to provide regulatory clarity for the issuance of stablecoins in the U.S. This bill proposes regulations for stablecoin issuers based on their volume. This legislation aims to foster innovation and reinforce the U.S. dollar’s position as the world’s leading currency. Introduction: The Stablecoin Regulation Rush The crypto industry has…
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I know this question has been probably asked a thousand times and you can google it but I really need some experts opinion fast. I wanna buy an NFT to enter a Fanclub for a Band (I know it's weird but it's my favorite band since a long time). The NFT costs 0.07 ETH. I…
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In the aftermath of yesterday’s Bitcoin crash, market participants are closely examining whether the leading cryptocurrency by market capitalization can rebound or if it faces the prospect of another decline. In a post shared on X today, February 4, on-chain analysis data provider Lookonchain offered insights into five critical indicators that may help traders and investors assess Bitcoin’s current position. “The price of Bitcoin experienced a major crash yesterday! Will it continue to rise or fall from the top? Let’s use 5 indicators to see if BTC is at its peak now,” Lookonchain writes. #1 Bitcoin Rainbow Chart Described by Lookonchain as “a long-term valuation tool that uses a logarithmic growth curve to forecast the potential future price direction of BTC,” the Rainbow Chart is often employed to gauge whether Bitcoin might be undervalued, overvalued, or approaching a key turning point. “The NEW Bitcoin Rainbow2023 Chart shows that you can still hold BTC, and BTC will top above $250K this cycle.” Related Reading: Bitcoin Traders Fearful For First Time Since October: Buying Signal? While this chart suggests a bullish long-term trajectory, its forecasts are based on historical price patterns and may not account for unforeseen market events. Nonetheless, Lookonchain’s data indicates a view that Bitcoin has yet to reach its cycle peak. #2 Relative Strength Index (RSI) The RSI is a technical indicator measuring the magnitude of recent price changes to evaluate overbought or oversold conditions.“≥ 70: BTC is overbought and may soon fall. ≤ 30: BTC is oversold and may soon increase. The current RSI is 75.56, compared with previous data, it seems that BTC has not yet reached its peak.” An RSI reading above 70 typically raises concerns that a correction may be due. However, Lookonchain’s observation underscores their view that despite the high RSI, historical data does not necessarily confirm a definitive market top. #3 200 Week Moving Average (200W MA) Heatmap Traders often reference the 200W MA as a foundational support or resistance level. Its heatmap variation charts the broader momentum and potential inflection points over a multi-year period. “The 200 Week Moving Average Heatmap shows that the current price point is blue, which means that the price top has not been reached yet, and it is time to hold and buy.” Related Reading: Despite Bitcoin Crash, Bitwise Predicts ‘Violent’ Surge Amid Trump’s Tariffs A “blue” reading on the heatmap implies the market has not displayed the peak signals observed in prior cycles. While some might view this as indicative of further potential upside, others remain cautious given macroeconomic uncertainties. #4 Bitcoin Cumulative Value Coin Days Destroyed (CVDD) Coin Days Destroyed is a long-standing on-chain metric that focuses on how long BTC has remained in a particular wallet before being moved. CVDD aggregates this data over time, aiming to pinpoint points where Bitcoin might be undervalued or overvalued. “When the BTC price touches the green line, the $BTC price is undervalued and it is a good buying opportunity. The current CVDD shows that the top of $BTC does not seem to have been reached yet.” According to Lookonchain, Bitcoin’s position relative to this metric implies that the market has not encountered the historically observed top conditions, suggesting the possibility of further upward momentum. #5 2-Year MA Multiplier The 2-Year Moving Average Multiplier is another widely referenced model that compares Bitcoin’s current price to its two-year moving average. “The 2-Year MA Multiplier shows that the price of $BTC is in the middle of the red and green lines. It has not touched the red line and the market has not reached the top yet.” Historically, Bitcoin’s price nearing or surpassing the upper red line has often coincided with cycle peaks. Since Bitcoin remains in a mid-range position, the data suggests that a top may not have materialized yet—though this does not eliminate the risk of further volatility. Overall, Lookonchain’s analysis, based on these five indicators, points to a conclusion that the top of Bitcoin’s current market cycle may remain undiscovered. At press time, BTC traded at $99,419. Featured image created with DALL.E, chart from TradingView.com
In the aftermath of yesterday’s Bitcoin crash, market participants are closely examining whether the leading cryptocurrency by market capitalization can rebound or if it faces the prospect of another decline. In a post shared on X today, February 4, on-chain analysis data provider Lookonchain offered insights into five critical indicators that may help traders and investors assess Bitcoin’s current position. “The price of Bitcoin experienced a major crash yesterday! Will it continue to rise or fall from the top? Let’s use 5 indicators to see if BTC is at its peak now,” Lookonchain writes. #1 Bitcoin Rainbow Chart Described by Lookonchain as “a long-term valuation tool that uses a logarithmic growth curve to forecast the potential future price direction of BTC,” the Rainbow Chart is often employed to gauge whether Bitcoin might be undervalued, overvalued, or approaching a key turning point. “The NEW Bitcoin Rainbow2023 Chart shows that you can still hold BTC, and BTC will top above $250K this cycle.” Related Reading: Bitcoin Traders Fearful For First Time Since October: Buying Signal? While this chart suggests a bullish long-term trajectory, its forecasts are based on historical price patterns and may not account for unforeseen market events. Nonetheless, Lookonchain’s data indicates a view that Bitcoin has yet to reach its cycle peak. #2 Relative Strength Index (RSI) The RSI is a technical indicator measuring the magnitude of recent price changes to evaluate overbought or oversold conditions.“≥ 70: BTC is overbought and may soon fall. ≤ 30: BTC is oversold and may soon increase. The current RSI is 75.56, compared with previous data, it seems that BTC has not yet reached its peak.” An RSI reading above 70 typically raises concerns that a correction may be due. However, Lookonchain’s observation underscores their view that despite the high RSI, historical data does not necessarily confirm a definitive market top. #3 200 Week Moving Average (200W MA) Heatmap Traders often reference the 200W MA as a foundational support or resistance level. Its heatmap variation charts the broader momentum and potential inflection points over a multi-year period. “The 200 Week Moving Average Heatmap shows that the current price point is blue, which means that the price top has not been reached yet, and it is time to hold and buy.” Related Reading: Despite Bitcoin Crash, Bitwise Predicts ‘Violent’ Surge Amid Trump’s Tariffs A “blue” reading on the heatmap implies the market has not displayed the peak signals observed in prior cycles. While some might view this as indicative of further potential upside, others remain cautious given macroeconomic uncertainties. #4 Bitcoin Cumulative Value Coin Days Destroyed (CVDD) Coin Days Destroyed is a long-standing on-chain metric that focuses on how long BTC has remained in a particular wallet before being moved. CVDD aggregates this data over time, aiming to pinpoint points where Bitcoin might be undervalued or overvalued. “When the BTC price touches the green line, the $BTC price is undervalued and it is a good buying opportunity. The current CVDD shows that the top of $BTC does not seem to have been reached yet.” According to Lookonchain, Bitcoin’s position relative to this metric implies that the market has not encountered the historically observed top conditions, suggesting the possibility of further upward momentum. #5 2-Year MA Multiplier The 2-Year Moving Average Multiplier is another widely referenced model that compares Bitcoin’s current price to its two-year moving average. “The 2-Year MA Multiplier shows that the price of $BTC is in the middle of the red and green lines. It has not touched the red line and the market has not reached the top yet.” Historically, Bitcoin’s price nearing or surpassing the upper red line has often coincided with cycle peaks. Since Bitcoin remains in a mid-range position, the data suggests that a top may not have materialized yet—though this does not eliminate the risk of further volatility. Overall, Lookonchain’s analysis, based on these five indicators, points to a conclusion that the top of Bitcoin’s current market cycle may remain undiscovered. At press time, BTC traded at $99,419. Featured image created with DALL.E, chart from TradingView.com
While most big-name AI tokens have posted losses in the past week, one new project is still gaining momentum. MIND of Pepe (MIND), which combines an AI agent with meme coin fun, just passed the $5 million mark in its presale. Early investors are buzzed about its mix of viral appeal and real-world utility. MIND […]
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In January 2025, bitcoin exhibited modest volatility yet clung steadfastly above the $100,000 threshold through much of the month’s closing weeks. Within this period, dormant holdings totaling 3,422.29 BTC—equivalent to $348.11 million at prevailing valuations—stirred into motion after years of inactivity. 3,422 Bitcoin From 2011–2017 Wallets Reallocated To start 2025, a multitude of long-dormant bitcoin […]
Can Ethereum game Moonray repeat the success of Off The Grid when it launches on Xbox and Playstation later this year? Web3 Gamer.
Bitcoin (BTC) and other cryptocurrencies are experiencing renewed selling pressure as escalating trade tensions between the United States and China lead to fresh tariffs on both sides. The largest cryptocurrency dropped to as low as $91,000 on Monday, while major altcoins like Ethereum (ETH) and Solana (SOL) also faced losses. CME Bitcoin Futures Open Interest Drops 4% The most recent installment of tariffs comes after the US enacted a 10% tax on all items from China, leading China to respond with its own tariffs on certain US imports, such as oil and liquefied natural gas, starting February 10. In another development, China has launched an inquiry into Google LLC over supposed antitrust infringements, intensifying the tension between the two economic giants. Related Reading: Solana Retraces TRUMP Meme Pump Gains – But Technicals Suggest A $300 Run This market turbulence has wiped out the benefits from a short relief rally on Monday, which occurred after the Trump administration decided to postpone tariffs on Mexico and Canada for a month. The weekend’s initial declaration of US tariffs had already triggered a steep drop in cryptocurrency prices. Investor trust in riskier assets has been notably affected, as US investors pulled a net $235 million from a set of 12 Bitcoin-centric exchange-traded funds (ETFs) on Monday. Moreover, open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) Group Inc.’s derivatives market decreased by 4%, reflecting a more cautious attitude among institutional investors. President Donald Trump, recognized for his pro-crypto position, has unintentionally brought more uncertainty to digital asset markets. Although cryptocurrencies experienced a rise following Trump’s election, the market now faces a difficult landscape marked by geopolitical strife and regulatory obstacles. Historical Trends Suggest Potential For Deeper Corrections As of this writing, Bitcoin was trading at $98,970, about 13% shy of its all-time high. Meanwhile, US ETFs investing in Ethereum witnessed record trading volumes on Monday, with significant liquidation of leveraged positions rattled by ongoing trade uncertainties. The iShares Ethereum Trust, led by BlackRock, accounted for nearly half of the $1.5 billion in trading volume among a group of nine ETFs. ETH plummeted by as much as 27% on Monday, leading to over $600 million in liquidations within perpetual futures markets, according to Bloomberg data. Related Reading: TRUMP Coin Tanks 18%—Even Donald Trump Couldn’t Save It Analyzing current price trends, crypto analyst Ali Martinez identified $92,180 as a critical support level for Bitcoin, based on MVRV (Market Value to Realized Value) pricing bands. If this support level fails, the next target could be $74,400. Despite the recent price correction, Bitcoin traders are still enjoying a profit margin of 3.36%. Historically, local bottoms have formed when profit margins drop below -12%, suggesting that Bitcoin could have further downside potential before reaching a true bottom. Additionally, the MVRV Momentum indicator has remained in negative territory since the beginning of the year, signaling ongoing market weakness. Featured image from DALL-E, chart from TradingView.com
