Category: Cryptocurrency News

The world of memecoins continues to be a rollercoaster ride, and Pepe (PEPE) is no exception. Recent on-chain data reveals a surge in tokens moving out of exchanges, potentially signaling a bullish sentiment among investors. However, conflicting indicators cast a shadow of doubt on the sustainability of this upward trend. Related Reading: Solana Primed For Takeoff? Expert Analysis Points To Buying Opportunity Pepe Soars Out Of Exchanges, Suggesting Investor Confidence A significant development for PEPE is the movement of a large number of tokens away from exchanges. According to Santiment, a blockchain analytics platform, the supply of PEPE outside exchanges reached a staggering 243 trillion on April 7th. This sharp rise compared to March 12th indicates a potential decrease in selling pressure. Source: Santiment Price Recovery, Rising Volume Hint At Potential Upswing Further bolstering the bullish case for PEPE is the recent price increase. Over the last 24 hours, the memecoin has experienced a nearly 10% surge, suggesting a potential recovery from a recent slump. In addition to the observed price fluctuations and projected price range for Pepe, it’s worth noting the significant increase in trading volume surrounding the cryptocurrency. This surge in trading activity not only reflects a heightened level of engagement within the Pepe community but also suggests growing interest from external investors and traders. Bitcoin is now trading at $71.879. Chart: TradingView The uptick in trading volume serves as a key indicator of market sentiment and could potentially serve as a catalyst for further price gains. Historically, increased trading activity has been associated with periods of price appreciation, as it signals a greater level of market participation and liquidity. In turn, this heightened liquidity can attract new buyers to the market, further bolstering demand and potentially driving prices higher. Investor Sentiment Tells A Different Narrative However, not all signs point towards a clear path to success for PEPE. While the token movements suggest some bullishness, a crucial metric paints a contrasting picture. The Weighted Sentiment, which reflects investor sentiment towards PEPE, has recently declined. Related Reading: Bitcoin Dips, But Don’t Panic: ETFs See Three Days Of Bullish Inflow This could indicate a weakening of investor confidence and potentially foreshadow a decrease in demand for the memecoin. If this metric continues to fall, it could invalidate the current bullish bias surrounding PEPE, making a significant price hike less likely. Quick Technical Overview On a brighter note, PEPE shows strong bullish momentum with a 74/26 split favoring positive sentiment. This aligns with the recent price increase and suggests continued investor optimism. However, it’s crucial to monitor social media chatter and news articles for any potential shifts in sentiment that could impact price movement. While the current outlook is positive, remaining vigilant is key in this volatile market. Source: Changelly PEPE Price Prediction Meanwhile, amidst the volatility of the cryptocurrency market, Pepe’s price fluctuations have captured the attention of crypto experts, prompting projections for its trajectory in April 2024. Analyses indicate an anticipated average PEPE rate of $0.0000140 during this period, reflecting both the potential for growth and the inherent uncertainty within the market. While these projections offer insights into the expected average price, it’s essential to acknowledge the range of possibilities. Experts suggest that Pepe’s minimum and maximum prices in April 2024 could vary significantly, with estimates ranging from 0.00000745 to 0.00000745. Featured image from Pexels, chart from TradingView

submitted by /u/Omn1Crypto [link] [comments]

Binance: Experienced a notable increase in web traffic in March, rising by +40% compared to February. Coinbase: Recorded a significant influx of traffic with a +56% increase from February, indicating a growing interest in cryptocurrency trading on the platform. Bybit: Saw a substantial hike in web traffic, increasing by +57% from the previous month, reflecting…
Read more

I have 50 Dollar worth eth on base, but I want it in my erc-20. Can I use Owlot Finance to bridge from base to erc-20 ?? And If it is possible, what can be the gas fees range ?? First I thought that I should transfer it to my bybit account and from there…
Read more

The Binance executive detained by Nigerian authorities for nearly six weeks has pleaded not guilty to charges of money laundering. Binance expressed deep disappointment that Tigran Gambaryan, who holds no decision-making power within the company, remains in detention. Judge Dismisses Tigran Gambaryan’s Arguments Tigran Gambaryan, a detained executive from Binance, pleaded not guilty to money […]

Bitcoin may be hovering below its all-time highs, but analysts are turning bullish based on a rare chart formation. Taking to X, the analyst observed that BTC has closed two consecutive months above the upper Bollinger Band on the monthly chart.  A Rare Bollinger Band Signal Prints: BTC To $140,000? The analyst said that historically, when Bitcoin closes two consecutive months above the upper Bollinger Band on the monthly chart, prices tend to double within three months. If this pattern holds, Bitcoin will surge to over $140,000 by July 2024, just three months after the Bitcoin halving event. Related Reading: Forget Bitcoin! Altcoins Set For Explosive Growth With Potential 1,000x Returns — Analyst Bitcoin is trading below $73,800, the all-time high registered in March 2024. However, after weeks of lower lows, the sharp recovery earlier on April 8 suggests buyers could be flowing back. At press time, the coin is changing hands above $71,800, convincingly breaking above the liquidation level of around $72,000.  Despite the bullish breakout, whether the uptrend continues remains to be seen. Of note is that BTC prices tend to collapse before the Halving, which is set to take place in the coming weeks, dumping to as low as 20%. BTC fell after peaking at $73,800, dropping to around the $60,000 level before snapping back higher to current levels. A refreshing close above $74,000 might form the basis of even more gains in the days ahead, perhaps towards $100,000 in the weeks ahead. Another analyst suggests that Bitcoin could rally to $140,000 within four weeks, especially if it follows a similar price pattern to December 2020. After breaking above the $20,000 high of 2017, Bitcoin continued to rally, peaking at around $70,000 for a nearly 3X surge. Currently, buyers are eyeing the $74,000 mark and the all-time high. If this level is surpassed, as it was in late 2020, the possibility of Bitcoin at least doubling to $140,000 becomes more likely. Will Halving, Macroeconomic Factors, And Spot ETFs Drive Prices? The current bullish sentiment might continue. Possible drivers include interest in spot Bitcoin exchange-traded funds (ETFs). So far, billions have been channeled to these products, lifting demand and thus prices. The upcoming Halving event could further buoy demand, lifting prices even higher in the coming months.  Related Reading: Ripple CEO Makes Bold Prediction For Crypto Market – $5 Trillion In 2024 Beyond Bitcoin-driven fundamentals, analysts are also looking at market events, especially in the United States. Some speculate that the United States Federal Reserve (Fed) might not slash interest by at least three times this year as labor conditions become firm and inflation slows down. If the Fed reduces interest rates, reversing their hawkish outlook, BTC could lead other safe havens in an uptrend. Feature image from DALLE, chart from TradingView

submitted by /u/WarriorNysty [link] [comments]

South Korea’s Democratic Party of Korea (DPK) is eager to relax regulations on exchange-traded funds (ETFs), including those tied to spot bitcoin, despite resistance from the People Power Party (PPP). Although election concerns have temporarily halted the initiative, a crucial poll is set for April 10, and the parliament is predominantly controlled by the DPK-led […]

Trading Guru Peter Brandt has recently commented on the Ethereum vs. Bitcoin chart, offering intriguing insights into market developments. Brandt’s remark comes after his prior critiques of Ethereum, denigrating it as a “junk coin” and its proponents as “Etheridiots.” However, amidst Ethereum’s recent descent to its lowest position against Bitcoin in nearly three years, Brandt’s stance seems to have transformed. Related Reading: Sleeping Giant Awakens! Ethereum Whale With Over 12,000 ETH Creates Noise Ethereum Plunges Against Bitcoin: A Bear Trap? Upon analyzing the Ethereum-to-BTC chart, Brandt suggested the presence of a “bear trap,” indicating that the ongoing decline in Ethereum’s value compared to Bitcoin might entice sellers into additional short positions. However, this could lead to an unexpected reversal, turning the apparent breakdown in support into a false signal. Bear trap? That is always a possibility when price hits a new 35-month low. pic.twitter.com/aKQg9k7TcD — Peter Brandt (@PeterLBrandt) April 8, 2024 Brandt’s observation of a potential bear trap highlights the complexities within the cryptocurrency market and the importance of considering multiple factors when analyzing price movements. While Ethereum may be experiencing a period of relative weakness against Bitcoin, Brandt’s cautious optimism suggests that there may be opportunities for a reversal shortly. Bullish Signals Amid ETH/BTC Downturn Despite Ethereum’s recent challenges, bullish signals have emerged, hinting at a potential turnaround. The options market, in particular, has shown optimism, with a significant portion of Ethereum options open interest expiring by the end of April being bullish bets on price. Deribit data reveals that about $3.3 billion worth of notional ether options are scheduled to expire, with approximately two-thirds of this sum allocated to calls. Moreover, the Ethereum put-call ratio for the April expiration stands at 0.45, signaling a slightly more bullish stance than Bitcoin options. Notably, a put-call options ratio below one suggests bullish sentiment, with traders favoring call options over put options. Moreover, the emergence of two new Ethereum whales, according to the crypto tracking platform Spot On Chain, identified as 0x666 and 0x435, adds to Ethereum’s bullish sentiment. These entities collectively withdrew a substantial amount of ETH from a major exchange, suggesting growing confidence in Ethereum’s prospects despite its recent downtrend. Related Reading: FOMO Gives Way To Fear: Bitcoin-Ethereum Ratio Signals Shift In Crypto Sentiment While Ethereum faces downward pressure against Bitcoin, Bitcoin’s resilience in the market is evident. Crypto analyst Ali has highlighted that Bitcoin appears to be breaking out, with a potential upside target of $85,000 if it can hold above $70,800. #Bitcoin appears to be breaking out! If $BTC can hold above $70,800, the next target becomes $85,000! pic.twitter.com/JPLf18KZvt — Ali (@ali_charts) April 8, 2024 When writing, Bitcoin trades above this critical level with a current market price of $71,621, indicating a possible climb towards $85,000 shortly. Featured image from Unsplash, Chart from TradingView

submitted by /u/aminok [link] [comments]