99.999% of memes are just wealth redistribution, pure extraction, a literal ponzi. even keeping a moonbag is burning money on daily runners/new launches. it's quite literally robbing from each other. How can this change? one is having actual PvE sure, but is that really it for memecoins … just aggregate the trading volume in a…
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This dip is not localized. It's a systemic derisking phenomenon happening across all markets including US indexes, Europe, Asia, etc. Why? Trump tariffs and growth scare. Trump could have triggered a global trade war in his attempt to bully the rest of the world into his negotiation table. But EU, Canada and China doesn't seem…
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New legislation would mandate fraud warnings, transaction limits, and mandatory refunds for crypto ATM users, aiming to curb scams and hold operators accountable. Senators Introduce Crypto ATM Fraud Prevention Act U.S. Senator Jack Reed (D-RI) announced on Feb. 26 that he has introduced the Crypto ATM Fraud Prevention Act (S. 710) to address the growing […]
Cardano price started a fresh decline from the $0.70 zone. ADA is now consolidating losses and at risk of more losses below the $0.60 level. ADA price started a fresh decline below the $0.6850 and $0.650 levels. The price is trading below $0.6550 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.660 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.70 resistance zone. Cardano Price Dips Further After a decent increase, Cardano faced resistance near the $0.70 zone. ADA formed a short-term top and recently started a fresh decline, like Bitcoin and Ethereum. There was a move below the $0.6850 and $0.6650 levels. The bears were able to push the price below $0.6350. A low was formed at $0.6016 and the price is now consolidating losses. It is still below the 23.6% Fib retracement level of the downward wave from the $0.6769 swing high to the $0.6016 low. Cardano price is now trading below $0.650 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.620 zone. The first resistance is near $0.640 and the 50% Fib retracement level of the downward wave from the $0.6769 swing high to the $0.6016 low. The next key resistance might be $0.660. There is also a connecting bearish trend line forming with resistance at $0.660 on the hourly chart of the ADA/USD pair. If there is a close above the $0.660 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.680 region. Any more gains might call for a move toward $0.70 in the near term. More Losses in ADA? If Cardano’s price fails to climb above the $0.660 resistance level, it could start another decline. Immediate support on the downside is near the $0.60 level. The next major support is near the $0.5850 level. A downside break below the $0.5850 level could open the doors for a test of $0.550. The next major support is near the $0.50 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.6000 and $0.5850. Major Resistance Levels – $0.6600 and $0.7000.
Two crypto reserve bills have passed their third reading in Arizona’s Senate and will head to the state’s House of Representatives.
Two crypto reserve bills have passed their third reading in Arizona’s Senate and will head to the state’s House of Representatives.
Two crypto reserve bills have passed their third reading in Arizona’s Senate and will head to the state’s House of Representatives.
Two crypto reserve bills have passed their third reading in Arizona’s Senate and will head to the state’s House of Representatives.
Two crypto reserve bills have passed their third reading in Arizona’s Senate and will head to the state’s House of Representatives.
The Bitcoin price has experienced such severe downward pressure and volatility that many are starting to believe that the bear market may have begun. While some analysts hope for a price reversal to the upside, others predict a further crash to $70,000, eradicating almost all gains achieved after the US election rally. Popular crypto analyst and Co-founder of BitMEX Arthur Hayes has shared a bearish prediction for the Bitcoin price. Hayes projects a further breakdown in Bitcoin’s value, suggesting an imminent drop between $70,000 and $75,000. Bitcoin Price Crash To $70,000 A Possibility The crypto founder shared a 2-hour Bitcoin price chart from BitMEX, explaining how the pioneer cryptocurrency could experience this decline and citing macroeconomic factors tied to United States (US) President Donald Trump as a trigger for this price drawdown. Related Reading: End Of The Road For Bitcoin? Analyst Reveals When Price Will Crash To $50,000 Hayes suggests that the market is entering a cooling phase, characterized by a potential retracement to pre-election liquidity levels. A cooling phase is a period during which the price of a cryptocurrency declines and consolidates as the market attempts to stabilize. It typically comes after a cryptocurrency experiences an explosive price increase. Looking at his price chart, the BitMEX Co-founder pinpointed a demand zone around the blue-shaded area between $76,000 and $65,000. This price range serves as a critical support area, where traders expect significant buying interest, enough to prevent further price declines. Hayes believes that the Bitcoin price’s possible decline to $70,000 hinges on Trump’s budget and debt ceiling decision. He suggests that if Trump fails to pass a budget that increases spending and raises the debt ceiling, then further market capitulation could occur. This means that the market may undergo a rapid sell-off by a large number of investors, triggering a panic that could lead to further declines in the Bitcoin price. Additionally, if Trump’s influence over the Republican Party weakens, Hayes indicates that market uncertainty could grow, potentially triggering a continuation of the current Bitcoin downturn. Moreover, a debt ceiling reduction could negatively impact the market’s liquidation and fuel more price fluctuations. Overall, Haye’s bearish outlook for Bitcoin is tied to Trump’s fiscal influence. The BitMEX Co-founder suggests that, for now, the market can only “chill out, retrace, and wait.” BTC’s 3-Day Decline Marks Highest Since FTX Crash According to MetaEra, the recent 3-day decline in the Bitcoin price is the highest crash seen since the FTX fiasco in 2022. In the first three days of this week, Bitcoin recorded a 12.6% drop in value, pushing it down to its current price of $86,227. Related Reading: Bitcoin Price Prediction: Analyst Charts Roadmap To $117,000, What You Should Know MetaEra revealed that the widespread market sell-off could be attributed to the negative sentiment and disappointment over President Trump’s lack of swift action regarding his promises to the crypto community. Prior to his election, Trump indicated a strong interest in creating a national Bitcoin Reserve and tightening fiat liquidity conditions. With no mention of plans concerning these crucial initiatives, uncertainty looms, leading to a weakened market sentiment. Featured image from Adobe Stock, chart from Tradingview.com
