Half a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the valuation of these claims has significantly appreciated, with buyers now prepared to offer $0.93 on the dollar for each claim. FTX Bankruptcy Claims Now Worth […]
Bitcoin, the world’s most valuable coin, is once again deviating from historical norms. According to an analysis by one crypto analyst, the coin is in the “overbought” territory of the Relative Strength Index (RSI) for the first time in the lead-up to halving. The RSI is a popular technical indicator analysts use to gauge the price momentum of traded instruments. Bitcoin Overheating? RSI Stands Above 70 The analyst points out that the Bitcoin RSI on the monthly chart is currently above 70, indicating an overbought condition and overheating. This is a significant development as it’s the first time in Bitcoin’s history that this has happened before a halving. The Bitcoin network is set to halve miner rewards in mid-April. This event, which occurs roughly every 200,000 blocks, will cut rewards distributed to miners by 50% from the current level of 6.125 BTC. Miners play a vital role in confirming transactions and maintaining network security. Related Reading: Bitcoin ‘Real Pump’ Nears New All-Time Highs, Analyst Says The fact that Bitcoin prices appear to be “overheating” just before halving is net bullish for the coin. It suggests that prices are not only breaking from historical trends but also building strong momentum. Besides the strong upside momentum, the analyst notes that Bitcoin now trades above a critical dynamic level on the monthly chart. The confluence of these positive developments could explain why traders are upbeat. Most analysts agree that the coin will likely break higher in the weeks ahead, clearing the recent all-time high of around $73,800. BTC Pinned Below $73,000 And Consolidating Thus far, Bitcoin prices are firm, increasing as evident in the daily chart. After sharp contractions in the past few trading sessions, the welcomed reversal over the weekend lifted the coin towards the elusive $70,000 level and a previous all-time high. However, judging from the candlestick arrangement in the daily chart, a break above $73,800 would likely catalyze more demand. So far, prices are moving sideways within a broad range despite signals of strength relayed from other indicators. Related Reading: Why Is The Price Of LUNC And USTC Up Today? While some investors are bullish, expecting prices to rise, caution should prevail. A close above $74,000 would thrust Bitcoin into unchartered territory. Beyond this, the analyst uses technical indicators to make projections. These tools use historical parameters and lag. As such, they may not be as accurate and, thus, misleading in some instances. Feature image from DALLE, chart from TradingView
How do you guys expect the bitcoin halving to affect the price of ETH? submitted by /u/temp-209009 [link] [comments]
submitted by /u/Duran-lets-gooo [link] [comments]
Referring to the MiCA law that will come into effect june 30 2024. From what I have read Binance has already said they're gonna delist all stable coins for users based in the EU after that deadline. What happens if I, EU based, will be still holding coins or tokens that can only be traded…
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There are a couple of events to watch out for this week, as they could prove pivotal in determining the future trajectory of the crypto market. These events could provide some certainty to the market or cause investors to wait on the sidelines for more favorable market conditions. Events That Could Affect The Market This Week Some Federal Reserve officials are scheduled to speak at different events this week. One of them is Governor Lisa Cook, who will give a lecture on March 25. Fed Chair Jerome Powell will also participate in a discussion at the Monetary Policy Conference on March 29. Related Reading: Bitcoin ETFs Bleed For One Week Straight – Can Price Recover To $73,000? Their speeches are significant as they could provide valuable insights into the current state of the economy and what to expect from the Federal Reserve regarding interest rates in its fight against inflation. Macroeconomic factors like interest rates usually impact the crypto market and partly determine the sentiments among crypto traders. The crypto market is usually bullish whenever the Federal Reserve adopts a dovish stance on whether or not to hike interest rates. Therefore, these officials sounding positive in their speeches could help boost investors’ confidence in the crypto market since they would be less worried about things on the macro side. Meanwhile, several economic data will be released this week, including the Consumer Confidence and Consumer Sentiment data and the Personal Consumption Expenditures (PCE) index. These releases offer insights into the economy’s strength and guide the Fed in deciding on future interest rate decisions. Crypto Needs A Big Win This Week Stakeholders and investors in the industry will no doubt hope that the events lined up for this week will provide a momentum boost for the crypto market. Last week was one to forget as things cooled after weeks of seeing the flagship crypto, Bitcoin, and altcoins make significant runs. This downward trend is believed to have been due to some external factors. Related Reading: Bernstein Analysts Says Bitcoin Will Reach A New ATH By Year End, Here’s The Target One of them is the net outflows that the Spot Bitcoin ETFs recorded throughout last week, with many investors taking profits from the various funds. These Bitcoin ETFs had previously seen an impressive amount of inflows into them, which positively affected Bitcoin’s price. As such, a trend of outflows was also expected to influence Bitcoin’s price, although negatively. These Spot Bitcoin ETFs will again be in the spotlight this week, with the crypto community waiting to see if the sentiments among the ETF investors will change. A sustained trend of profit-taking this week could spark another decline in the crypto market. Total market cap chart at $2.47 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from CNBC, chart from Tradingview.com
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submitted by /u/LanceOhio [link] [comments]
So I bought one of that lottery ticket tokens just released, liked the name, like gambling, thrown 100$. Then I saw after an update there's a 94% selling tax, ok, money gone, at least 94% of it. But that's what I want to understand: https://preview.redd.it/keushwc0uiqc1.png?width=418&format=png&auto=webp&s=1e412e711334968d087bae4142e4081e7d5e64c3 What does it mean? I can't change gas and…
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Four months ago, a total of 179 decentralized autonomous organizations (DAOs) boasted treasuries exceeding $1 million or more each. As of today, this figure has climbed to 211 distinct DAOs meeting the same criteria. Furthermore, since Nov. 1, 2023, the collective value of DAO treasuries has expanded by more than $20 billion across a period […]
