Category: Cryptocurrency News

The Bitcoin on-chain metrics continue to show bullish signs that a parabolic breakout is imminent for the flagship crypto. The latest of these metrics is a significant turnaround in Bitcoin’s network activity, which could further provide bullish momentum for the crypto token.  Bitcoin Sees Surge In Network Activity  Crypto analyst Ali Martinez revealed in an X (formerly Twitter) post that the number of daily Bitcoin addresses had broken a downtrend that began on March 5. He added that 756,480 Bitcoin addresses have been active in the last 24 hours. Martinez claimed this development is a “positive sign” that Bitcoin’s bull run will continue.  Related Reading: Litecoin Sees Massive 75% Surge In Major Metric – Can This Trigger A Rally To $200? Indeed, this development could trigger a run for Bitcoin as it suggests that more users are returning to the ecosystem. This could positively impact Bitcoin’s price as they continue to trade the flagship crypto. Meanwhile, the surge in daily active addresses adds to a growing list of bullish signals for Bitcoin.  Another bullish signal is the decline of Bitcoin’s supply on exchanges, which recently dropped to new lows. This positive development suggests that Bitcoin investors are holding for the long term rather than looking to offload their holdings anytime soon, which could add significant selling pressure on the flagship crypto.  This decline in Bitcoin’s supply on exchanges continued last week, with Martinez revealing that almost 22,647 BTC ($1.57 billion) were withdrawn from crypto exchanges in the past week. Meanwhile, the crypto analyst mentioned that the Bitcoin Taker Buy Sell Ratio on the HTX crypto exchange has surged to 730.  This surge in the buy-sell ratio means that more investors are accumulating the flagship crypto at an impressive rate. Martinez noted that this “massive buy pressure overwhelming bullish sentiment” and a strong upward trend might be on the horizon for Bitcoin. This buy pressure could undoubtedly impact Bitcoin’s price, especially if the selling pressure is low.  Bitcoin’s Current And Future Outlook Martinez has also provided insights into Bitcoin’s current and future outlook in a series of posts on his X platform. In one post, he noted that Bitcoin’s price is currently situated in a strong support zone between $69,380 and $67,350, where 1.97 million addresses acquired 964,000 BTC. He added that Bitcoin must hold above this level to sustain its bullish momentum.  Related Reading: Ripple’s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds Meanwhile, the crypto analyst provided insights into how high Bitcoin could rise on its next leg up if it manages to sustain this bullish momentum. He said the next local top for Bitcoin could be around $89,200. Bitcoin is still expected to rise higher than that at some point in the bull run since crypto analysts like Tarekonchain predict that it is very likely that the flagship crypto will rise above $100,000 before it hits its market peak.  Featured image created with Dall.E, chart from Tradingview.com

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The 99Bitcoins Token (99BTC) is shaking up crypto education – and gaining traction in its presale phase. With over $2 million raised and analysts predicting 10x gains once it launches, this “Learn-to-Earn” token has investors buzzing. 99Bitcoins Token Gamifies Crypto Education with Learn-to-Earn Model 99Bitcoins Token turns crypto education into an addictive game. Instead of […]

Hot wallet is onboarding users on Near blockchain with interactive dapps as a Telegram bot. Start mining and become an early user submitted by /u/akshaykmvlly [link] [comments]

The video, which had the caption, “Something is cooking in the Normie Labs,” was deemed distasteful.

On June 10, the onchain intelligence platform Arkham revealed that the decentralized finance (defi) protocol Uwu Lend may have experienced a potential exploit. Arkham and Cyvers reported that more than $19 million had been siphoned from the lending protocol. Over $19M Drained From Uwu Lend The defi lending platform Uwu Lend is believed to have […]

Solana (SOL) finds itself stuck in neutral. Once a frontrunner in the 2023 crypto bull run, SOL’s price has been range-bound between $155 and $170 for the past few days, leaving investors cautiously optimistic but undeniably perplexed. Related Reading: Bitcoin Buoyed By Big Money: Whales Gobble More BTC, Signaling Bullish Outlook Technical Tug-of-War: Bulls Vs. Bears Technical indicators paint a conflicting picture for the high-speed blockchain darling. The dreaded “death cross” – a bearish signal formed when the 50-day moving average dips below the 200-day average – has materialized, suggesting a potential short-term price decline. However, the Relative Strength Index (RSI) remains neutral, hinting at some underlying buying pressure, albeit weak. The social media front isn’t much clearer. Mentions and discussions surrounding Solana have dipped, indicating a decline in public interest. Additionally, trading activity has plummeted by over 50%, mirroring the community’s lukewarm engagement. Whispers Of Opportunity Despite the prevailing uncertainty, there are glimmers of potential for bullish surges. The derivatives market reveals an interesting dynamic. While the overall long/short ratio suggests investor indecision, some major exchanges like Binance and OKX see a more optimistic outlook with higher long positions. Furthermore, recent price spikes have triggered short liquidations, indicating that short-sellers might be getting squeezed out, potentially paving the way for a short-term rally. This phenomenon highlights the inherent volatility of the crypto market, where sudden bursts of bullish momentum can catch bears off guard. Solana Price Projection Looking ahead, analysts offer a mixed bag of predictions. Some, like the report from CoinCodex, predict a bullish surge to $185 by July 10th. However, this optimism clashes with the bearish technical indicators and the “greed” reading on the Fear and Greed Index, which could signal overvaluation. The path forward for Solana hinges on several factors. External influences, like regulatory decisions or broader market trends, could significantly impact its price. Additionally, the success of upcoming projects on the Solana blockchain could reignite investor interest and propel the token value upwards. Related Reading: Ready To Strike? Bitcoin Poised For A Big Move After Major Consolidation Solana’s current predicament is a microcosm of the broader cryptocurrency market. While innovation and potential abound, uncertainty and volatility remain constant companions. Investors in the Solana ecosystem, along with the rest of the crypto world, are left in a wait-and-see mode, eagerly awaiting the next move in this intricate game of digital value. Featured image from Live Wallpaper, chart from TradingView

Since its trading debut in 2011, Bitcoin has delivered an impressive average annual return of approximately 104%, surpassing the returns of Warren Buffett’s portfolio and U.S. stock markets.