Category: Cryptocurrency News

10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent much of the year consolidating after hitting all-time highs early on.“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024, where it reached an all-time high of $73,679 in March before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.Bitcoin’s current chart signals “market indecision”Thielen said he had this thought even two months ago, around the time Bitcoin hit its current all-time high of $109,000 on the day of Trump’s inauguration.He explained in his most recent market report on March 15 that Bitcoin’s current chart resembles a “High and Tight Flag,” which, despite typically being a bullish continuation pattern, shows signs of weakness.Bitcoin’s price chart is forming a High, Tight Flag Pattern. Source: 10x Research“Two flags instead of a single, precise formation weakens this setup,” Thielen said.“As a result, the pattern currently suggests market indecision rather than a straightforward bullish consolidation,” he added.Meanwhile, he also pointed out that the spot Bitcoin exchange-traded fund (ETF) market shows no signs of a “buy-the-dip” mentality.“Little incentive” to take advantage of Bitcoin’s recent price dip“This aligns with our view that most ETF flows came from arbitrage-driven hedge funds. Given the persistently low funding rates, there’s little incentive or willingness to deploy additional capital despite the recent price correction,” Thielen said. Since the beginning of March, when Bitcoin fell below $90,000, spot Bitcoin ETFs in the US have recorded total outflows of around $1.66 billion, according to Farside data.Bitcoin is trading at $84,290 at the time of publication, according to CoinMarketCap. This represents a 23% decline from its $109,000 January all-time high.Bitcoin is down 12.86% over the past month. Source: CoinMarketCapThielen is unsure if Bitcoin’s uptrend will resume in the short term. ”Therefore, it may be prudent to close short positions at this stage, although there remains little evidence to support a strong price recovery,” Thielen said.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchEver since Bitcoin fell below $80,000 on Feb. 28 — the first time since November — amid growing macroeconomic uncertainty over US President Donald Trump’s proposed tariffs, several crypto analysts have been predicting further downfall for the asset.On March 10, BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes said “it looks like Bitcoin will retest $78,000.” “If it fails, $75,000 is next in the crosshairs,” he added.Meanwhile, Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph on March 11 that the low $70,000 range could “provide a foundation for a more sustainable recovery.”Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent the majority of the year consolidating after hitting all-time highs early on.“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024. In March 2024, Bitcoin reached an all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.Bitcoin’s current chart signals “market indecision”Thielen said he had this thought even two months ago, around the time Bitcoin hit its current all-time high of $109,000 on the day of Trump’s inauguration.He explained in his most recent market report on March 15 that Bitcoin’s current chart resembles a “High and Tight Flag,” which, despite typically being a bullish continuation pattern, shows signs of weakness.Bitcoin’s price chart is forming a High, Tight Flag Pattern. Source: 10x Research“Two flags instead of a single, precise formation weakens this setup,” Thielen said.“As a result, the pattern currently suggests market indecision rather than a straightforward bullish consolidation,” he added.Meanwhile, he also pointed out that the spot Bitcoin exchange-traded fund (ETF) market shows no signs of a “buy-the-dip” mentality.“Little incentive” to take advantage of Bitcoin’s recent price dip“This aligns with our view that most ETF flows came from arbitrage-driven hedge funds. Given the persistently low funding rates, there’s little incentive or willingness to deploy additional capital despite the recent price correction,” Thielen said. Since the beginning of March, when Bitcoin fell below $90,000, spot Bitcoin ETFs in the US have recorded total outflows of around $1.66 billion, according to Farside data.Bitcoin is trading at $84,290 at the time of publication, according to CoinMarketCap. This represents a 23% decline from its $109,000 January all-time high.Bitcoin is down 12.86% over the past month. Source: CoinMarketCapThielen is unsure if Bitcoin’s uptrend will resume in the short term. ”Therefore, it may be prudent to close short positions at this stage, although there remains little evidence to support a strong price recovery,” Thielen said.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchEver since Bitcoin fell below $80,000 on Feb. 28 — the first time since November — amid growing macroeconomic uncertainty over US President Donald Trump’s proposed tariffs, several crypto analysts have been predicting further downfall for the asset.On March 10, BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes said, “It looks like Bitcoin will retest $78,000.” “If it fails, $75,000 is next in the crosshairs,” he added.Meanwhile, Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph on March 11 that the low $70,000 range could “provide a foundation for a more sustainable recovery.”Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent the majority of the year consolidating after hitting all-time highs early on.“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024. In March 2024, Bitcoin reached an all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.Bitcoin’s current chart signals “market indecision”Thielen said he had this thought even two months ago, around the time Bitcoin hit its current all-time high of $109,000 on the day of Trump’s inauguration.He explained in his most recent market report on March 15 that Bitcoin’s current chart resembles a “High and Tight Flag,” which, despite typically being a bullish continuation pattern, shows signs of weakness.Bitcoin’s price chart is forming a High, Tight Flag Pattern. Source: 10x Research“Two flags instead of a single, precise formation weakens this setup,” Thielen said.“As a result, the pattern currently suggests market indecision rather than a straightforward bullish consolidation,” he added.Meanwhile, he also pointed out that the spot Bitcoin exchange-traded fund (ETF) market shows no signs of a “buy-the-dip” mentality.“Little incentive” to take advantage of Bitcoin’s recent price dip“This aligns with our view that most ETF flows came from arbitrage-driven hedge funds. Given the persistently low funding rates, there’s little incentive or willingness to deploy additional capital despite the recent price correction,” Thielen said. Since the beginning of March, when Bitcoin fell below $90,000, spot Bitcoin ETFs in the US have recorded total outflows of around $1.66 billion, according to Farside data.Bitcoin is trading at $84,290 at the time of publication, according to CoinMarketCap. This represents a 23% decline from its $109,000 January all-time high.Bitcoin is down 12.86% over the past month. Source: CoinMarketCapThielen is unsure if Bitcoin’s uptrend will resume in the short term. ”Therefore, it may be prudent to close short positions at this stage, although there remains little evidence to support a strong price recovery,” Thielen said.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchEver since Bitcoin fell below $80,000 on Feb. 28 — the first time since November — amid growing macroeconomic uncertainty over US President Donald Trump’s proposed tariffs, several crypto analysts have been predicting further downfall for the asset.On March 10, BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes said, “It looks like Bitcoin will retest $78,000.” “If it fails, $75,000 is next in the crosshairs,” he added.Meanwhile, Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph on March 11 that the low $70,000 range could “provide a foundation for a more sustainable recovery.”Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent the majority of the year consolidating after hitting all-time highs early on.“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024. In March 2024, Bitcoin reached an all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.Bitcoin’s current chart signals “market indecision”Thielen said he had this thought even two months ago, around the time Bitcoin hit its current all-time high of $109,000 on the day of Trump’s inauguration.He explained in his most recent market report on March 15 that Bitcoin’s current chart resembles a “High and Tight Flag,” which, despite typically being a bullish continuation pattern, shows signs of weakness.Bitcoin’s price chart is forming a High, Tight Flag Pattern. Source: 10x Research“Two flags instead of a single, precise formation weakens this setup,” Thielen said.“As a result, the pattern currently suggests market indecision rather than a straightforward bullish consolidation,” he added.Meanwhile, he also pointed out that the spot Bitcoin exchange-traded fund (ETF) market shows no signs of a “buy-the-dip” mentality.“Little incentive” to take advantage of Bitcoin’s recent price dip“This aligns with our view that most ETF flows came from arbitrage-driven hedge funds. Given the persistently low funding rates, there’s little incentive or willingness to deploy additional capital despite the recent price correction,” Thielen said. Since the beginning of March, when Bitcoin fell below $90,000, spot Bitcoin ETFs in the US have recorded total outflows of around $1.66 billion, according to Farside data.Bitcoin is trading at $84,290 at the time of publication, according to CoinMarketCap. This represents a 23% decline from its $109,000 January all-time high.Bitcoin is down 12.86% over the past month. Source: CoinMarketCapThielen is unsure if Bitcoin’s uptrend will resume in the short term. ”Therefore, it may be prudent to close short positions at this stage, although there remains little evidence to support a strong price recovery,” Thielen said.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchEver since Bitcoin fell below $80,000 on Feb. 28 — the first time since November — amid growing macroeconomic uncertainty over US President Donald Trump’s proposed tariffs, several crypto analysts have been predicting further downfall for the asset.On March 10, BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes said, “It looks like Bitcoin will retest $78,000.” “If it fails, $75,000 is next in the crosshairs,” he added.Meanwhile, Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph on March 11 that the low $70,000 range could “provide a foundation for a more sustainable recovery.”Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

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An analyst has explained how Dogecoin could still have a chance at a parabolic run if the support level of this pattern ends up holding. Dogecoin Is Retesting The Lower Bound Of An Ascending Channel In a new post on X, analyst Ali Martinez has shared a long-term Ascending Channel that the 1-week price of Dogecoin has been trading inside over the years. The “Ascending Channel” here refers to a pattern from technical analysis (TA) that forms when an asset’s price observes consolidation towards a net upside between two parallel trendlines. The upper line of the channel is drawn by connecting successive higher highs. Similarly, the lower one joins higher lows. When the price is moving between these two lines, it’s likely to face resistance at the former level and support at the latter one. Related Reading: Bitcoin & Altcoin Volume Fades—Investor Exhaustion Setting In? In the scenario that the resistance or support line breaks, the asset can be likely to see a continuation of the trend in the direction of the break. This means that escapes above the channel can be bullish, while drops under it can be bearish. Like the Ascending Channel, there is also the Descending Channel, which occurs when the asset’s consolidation happens toward a net downside instead. But other than this fact, the latter works similarly to the former. There is also a third type of parallel channel, where the consolidation is exactly sideways. In this case, the trendlines are not only parallel to each other, but also to the time-axis. Now, here is the chart shared by Martinez that shows the Ascending Channel that the weekly price of Dogecoin has seemingly been stuck inside for the past decade: As is visible in the above graph, the 1-week price of Dogecoin has recently observed a sharp decline toward the bottom line of the Ascending Channel. Last year, the memecoin also made a retest of the line, which proved successful and helped its price find a rebound to the upside. Related Reading: Bitcoin Investors Shift To Strong Distribution As Demand Fades, Glassnode Reveals It’s possible that the line may once again end up holding for DOGE, but it’s still too early to say anything, considering that the last retest saw the coin move along the line for a while before bullish momentum returned. The latest retest of the line has come following a crash that has shaken assets across the cryptocurrency space and instilled fear in the minds of the investors. As long as DOGE stays inside the Ascending Channel, though, not all hope may be lost for the memecoin’s holders. As the analyst says, “Dogecoin $DOGE still has a chance to go parabolic if the $0.16 support level holds!” DOGE Price Dogecoin has been one of the worst-hit top coins in the sector during the past week, as its price has plummeted almost 17%, coming down to the $0.17 level. Featured image from Dall-E, charts from TradingView.com

A Lockbit ransomware developer has been extradited to the U.S., admitting to coding and consulting for the cybercriminal group, which paid him in cryptocurrency. Lockbit Ransomware Developer Extradited to US in Global Crackdown The U.S. Department of Justice (DOJ) announced on March 14 that Rostislav Panev, a dual Russian and Israeli citizen, has been extradited […]

The major disconnect between crypto traders’ growing short-term market uncertainty and crypto builders becoming more bullish than ever creates a prime setup for long-term investors, according to a crypto hedge fund founder.“This is one of the starkest divergences I’ve seen in sentiment and fundamentals,” BlockTower Capital founder Ari Paul said in a March 14 X post.Optimism grows among those beyond crypto natives Paul said that while traders and analysts have turned bearish on crypto recently, crypto developers — and more broadly, those working for crypto companies less focused on the market cycle itself — remain much more bullish. “All the data points I’m hearing from basically any crypto-related project or company that doesn’t rely on “natives” near-term is positive,” Paul said.Source: Nic PuckrinBased on this, he’s confident that crypto is a “good buy” over the “12 month timeframe” but isn’t sure if it has reached a short-term bottom yet. Crypto analyst Matthew Hyland recently said the only way for Bitcoin to confirm that the bottom is actually in would be to close a week back above $89,000.However, on March 14, the broader crypto market rose slightly, giving traders a bit more short-term confidence. Bitcoin (BTC) spiked 3.16% to $84,638 over the 24 hour period, while Ether (ETH) rose 1.79% and XRP (XRP) jumped 6.01%, according to CoinMarketCap.Over the same 24 hours, the Crypto Fear and Greed Index, which measures overall crypto market sentiment, surged 19 points to 46, which is still in the “Fear” zone but nearing neutral territory.Source: Dan McArdleMN Trading Capital founder Michael van de Poppe said Bitcoin’s price spike over the past 24 hours has strengthened his confidence in the asset resuming its uptrend by June.Crypto market presenting opportunity for “sustainable value” investments“Clearly made a higher low, clearly touching the highs,” van de Poppe said in a March 14 X post.Related: Bitcoin bull market in peril as US recession and tariff worries loom“It’s very likely that we’re starting a new uptrend on the lower timeframes going into a good Q2,” he added.Paul also said it may be the right time to explore traditional venture capital crypto investments with a longer-term outlook.“A good time to be looking for “traditional” style VC crypto investments.  By “traditional” I mean longer term, genuinely focusing on sustainable value creation, no quick monetization scheme,” Paul said.Magazine: Vitalik on AI apocalypse, LA Times both-sides KKK, LLM grooming: AI Eye