The best crypto exchange is a platform that makes it very easy and safe to trade cryptocurrencies. These platforms let you buy, sell, and store digital assets. And, if you are a day trader, you also need a platform that offers tools for research and technical analysis. Also, apart from the basic trading features, some…
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Cryptocurrency trading means buying and selling digital assets like Bitcoin, Ethereum, and others to make a profit. The trading can be done on centralized exchanges like Binance or Bybit and decentralized exchanges like Uniswap and Raydium. In this guide, we will explain what cryptocurrency trading is and how it works, also cover its benefits, and…
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DeFi losses dropped 40% in 2024 as advanced security measures strengthened protocols, while CeFi breaches surged to $694M.
Bitcoin experienced a highly volatile trading session yesterday, with prices swinging between $92,300 and $96,420 throughout the day. The cryptocurrency now hovers near the $93,000 mark, struggling to establish a clear direction in the short term. As market participants await decisive action, uncertainty looms over whether Bitcoin will sustain its bullish structure or face a deeper correction. Related Reading: If History Repeats Dogecoin Has Potential For A Parabolic Rally – Details CryptoQuant analyst Axel Adler recently shared valuable insights, highlighting a significant trend among short-term holders (STH). According to Adler, these investors continue to sell their coins at high-profit margins, capitalizing on Bitcoin’s recent upward momentum. While profit-taking is a natural part of market cycles, the lack of consistent demand to absorb this selling pressure could challenge Bitcoin’s price stability. If demand fails to match the pace of active profit-taking, a local correction could occur, potentially leading to a decline in Bitcoin’s price. This delicate balance between profit-taking and market demand makes the coming days critical for determining Bitcoin’s next move. Will buyers step in to support the price, or will selling pressure lead to a deeper retrace? Investors and analysts are watching closely as Bitcoin navigates this pivotal moment. Bitcoin Demand Levels Responding Bitcoin has faced days of intense volatility as it struggles to break above the $100,000 psychological barrier while holding firm above the $92,000 support. The market remains in a state of flux, with investors and analysts closely monitoring Bitcoin’s next move. Despite the uncertainty, Bitcoin’s resilience at these key levels highlights the ongoing tug-of-war between bullish and bearish forces. Top analyst Axel Adler recently shared an insightful analysis on X, shedding light on the behavior of short-term holders (STHs). According to Adler, STHs are actively selling their coins at high profit margins, taking advantage of the recent price surges. While profit-taking is a normal part of market cycles, a lack of consistent demand to counter this selling pressure could lead to a local correction and a potential price decline. However, in the event of a price drop, STHs are unlikely to continue selling their holdings, as selling at a loss in a bull market is often considered an unwise move. This dynamic could provide Bitcoin with the breathing room needed to stabilize at its key support levels, currently around the $90,000 mark. Related Reading: Solana Holds Weekly Support At $180 – Analyst Expects $330 Mid-Term If Bitcoin successfully holds above $90,000, a period of consolidation around this level could create the foundation for the next rally, potentially propelling BTC to new all-time highs. The coming days will be critical in determining whether Bitcoin continues its ascent or faces a temporary setback. BTC Holding Above $90K Bitcoin is trading at $93,800 after enduring days of selling pressure and market uncertainty. Despite holding above key support at $92,000, the loss of both the 4-hour 200 moving average (MA) and exponential moving average (EMA) is a short-term bearish signal. These indicators, often viewed as gauges of market momentum, suggest that Bitcoin may need additional demand to regain upward traction. For bulls to reclaim control and ignite a fresh rally, Bitcoin must recover these critical levels. The 4-hour 200 MA at $96,500 and the 4-hour 200 EMA at $98,500 are essential hurdles. Successfully pushing above these thresholds and securing a decisive close beyond them would confirm renewed bullish momentum. Related Reading: Ethereum Whales Bought $1 Billion ETH In The Past 96 Hours – Details If Bitcoin achieves this feat, the stage could be set for a massive rally into price discovery, breaking through psychological barriers like $100,000 and paving the way for new all-time highs. On the flip side, failing to reclaim these indicators might signal extended consolidation or a potential retest of lower support levels. Featured image from Dall-E, chart from TradingView
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Bitcoin needs to dip much harder to deliver even standard December downside, data shows, as BTC price targets continue to focus on the mid-$80,000 area.
The memecoin Brett is totally dominating the ecosystem on the Base blockchain. With a dedicated community and strong momentum, Brett might soon enter the top 3 of the entire memecoin ecosystem. Inspired by the iconic character from Matt Furie’s Boys’ Club comics, Brett has emerged as a dominant force in the memecoin ecosystem. This playful […]
From failed memecoin stunts and attempted teenage rug pulls on Pump.fun to fake FBI tokens, 2024 didn’t disappoint.
The Argentine justice system has ordered Tether, the issuer of the USDT stablecoin, to freeze over $3.5 million linked to Rainbowex, an alleged mega pyramid operation that is currently under investigation. The request comes after the execution of 22 search warrants and the detention of 10 individuals connected with these operations. Argentine Authorities Hit Rainboex […]
