Category: Cryptocurrency News

In the world of Bitcoin, silence is not always golden. The recent weeks have seen Bitcoin’s price volatility drop to historical lows, with the BTC price trading mostly between $29,000 and $30,000. However, beneath this placid surface, a number of intriguing market dynamics are at play. “Realized volatility for Bitcoin has collapsed to historical lows. Across 1-month to 1yr timeframes, this is the quietest we have seen the corn since after March 2020. Historically, such low volatility aligns with the post-bear-market hangover periods (re-accumulation phase),” stated Checkmate, lead on-chain analyst at Glassnode. The chart shared by Checkmate shows that annualized realized volatility resembles the post-bear era for Bitcoin from March 2020 when volatility was at 47%. Currently, 1-year volatility sits at 49.1%, 3-month volatility at 35.5%, and 1-month volatility at 22.9%. Quit Before The Storm For Bitcoin However, the low volatility is not the only story. Checkmate also highlighted a new all-time high for Bitcoin’s long-term holder supply, now at 14.59M BTC, which accounts for 75% of the circulating supply. This shows that an increasingly high number of Bitcoin investors are convinced of a future rally, leading to a supply shortage, while high risk traders are washed out of the market due to lacking volatility. Related Reading: Crypto Analyst Points To Bitcoin Price History Repeating Itself – Are The Signs Bullish? Simultaneously, there’s a surge in institutional positioning; volume and open interest of the CME Bitcoin futures have reached a 20-month high in July. Despite the Bitcoin spot markets recording low volumes, the CME futures saw the highest volume since January 2022, with $55.8 billion in July. The CTFC data reveals a fascinating slugfest between two investor groups. Asset managers are $1.2 billion net long, while hedge funds are net short by -$980 million. This standoff suggests an imminent breakout in Bitcoin’s price, potentially leaving one of these groups with burnt fingers. On-chain analyst Ali Martinez provided further insight: “Even as Bitcoin dropped from $32,000 to $29,000, the number of new BTC addresses steadily rose! This bullish divergence between price and network growth hints at a stable long-term BTC uptrend. Buy the dip!” Indeed, the current low volatility phase is not without precedent or predictive power. Renowned analyst @CryptoCon provides a compelling perspective on this, stating that such periods of sideways price action are not only normal but potentially bullish. “Bitcoin sideways price action at this point in the cycle is completely normal! The 2 Week Mass Index crosses into the golden pocket at the most stagnant cycle points, just before massive bullish moves. Data everywhere points to the same conclusion: Low volatility is bullish,” CryptoCon tweeted. Chris Burniske, partner at Placeholder VC, also shared his perspective on the current market dynamics. “Currently, tourists are inactive while residents are accumulating swiftly, owning 74.8% of all supply. That’s consistent with an early-stage bull market. Thirty percent of BTC has left for cold storage since 2020, leaving exchanges with 2.26 million. Bitcoin seems fairly valued relative to the number of active entities on the network.” Related Reading: Tether May Now Be 11th Largest Bitcoin Holder, Analyst Says Burniske’s simplified price/cycle model projects Bitcoin to reach near $39,000 by the fourth quarter of 2023 and $92,000 (base scenario) by Q4 2025 with entities above 600,000. In conclusion, the current low volatility phase of Bitcoin may seem uneventful on the surface, but the underlying market dynamics suggest a different story. The tug-of-war between asset managers and hedge funds, the steady rise in new BTC addresses, and the swift accumulation by long-term holders all hint at a brewing storm. At press time, the Bitcoin price was at $29,076. Featured image from iStock, chart from TradingView.com

Humanitarian aid and community services charity, Red Cross Singapore, included cryptocurrency as a newly-accepted form of donation.

Bitcoin is frustratingly calm and volatility is near historic lows — what could provide BTC price action with fresh fuel to discover a trend this week?

In the realm of meme coins, PEPE’s Network Realized Profit/Loss (NPL) metric has emerged as a critical barometer, shedding light on price trends within the cryptocurrency landscape. This metric has now indicated a glimmer of a price floor for the frog-themed token that has been facing its fair share of challenges. As a result, a ray of positivity has dawned upon numerous investors who have been expecting a much-needed rebound, following a prolonged period of decline within the meme coins arena. However, a more meticulous analysis of the situation unveils a contrasting reality, suggesting that the token’s woes might be far from over. At first glance, the dip in PEPE’s NPL metric appeared to be an encouraging sign. Historically, a significant drop in this metric has often coincided with a price bottom in many cryptocurrencies.   PEPE NPL metric on the downward trend. Source: Santiment.  Related Reading: Shiba Inu: More Bite Than Bark Over The Weekend With Over 15% Jump PEPE’s Misleading NPL Dip Conceals Ongoing Selling Pressure The recent uptick in PEPE’s 24-hour performance, with a 1.7% rally, seemed to lend credence to this belief. Nevertheless, deeper scrutiny of on-chain data reveals a less optimistic picture. While the NPL suggested a potential price floor, the broader on-chain performance of PEPE contradicts this notion. The token has experienced consistent and sustained selling pressure. PEPE seven-day slump. Source: Coingecko Holders have continued to offload their tokens including meme coins, thwarting the possibility of a substantial price rebound. The 9.1% seven-day slump underscores the persistent challenges PEPE faces, casting doubt on the immediate potential for recovery. Insights From The Broader Crypto Market Struggle PEPE’s struggle is not occurring in isolation. The wider cryptocurrency market has been grappling with a plethora of challenges, including regulatory uncertainties, market sentiment shifts, and macroeconomic factors. The volatility that has become synonymous with the crypto landscape has impacted tokens across the spectrum, including well-established ones. This backdrop of uncertainty has resulted in heightened caution among investors. The fear of further price drops, according to a recent PEPE price analysis, prompts them to liquidate their holdings preemptively, even when metrics like NPL seem favorable. This collective behavior contributes to the sustained selling pressure observed in tokens like PEPE, despite signs that might hint at a price recovery. The market cap of cryptocurrencies reached $1.12 trillion today. Chart: TradingView.com PEPE And Meme Coins: The Road Ahead While the dip in PEPE’s NPL initially raised hopes of a price bottom, a meticulous analysis uncovers the underlying challenges that continue to suppress the token’s recovery. The on-chain data reflects a consistent trend of token holders selling, which overshadows the potential for an immediate price rebound. Moreover, the broader struggles of the crypto market further exacerbate the situation, making it crucial for investors to manage their expectations. Related Reading: Bone ShibaSwap Among Weekend 100 Biggest Hitters With 25% Rally While metrics like NPL provide insights, they must be viewed within the larger context of market dynamics. Only by taking a holistic approach and considering multiple factors can investors make informed decisions that mitigate risks and capitalize on opportunities in this highly volatile environment. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Earth.com

The job involves investigating crypto fraud, money laundering and other blockchain-based crime performed by organized groups.

So we've read what happened some days ago but missed a tiny detail I'd like to discuss… https://preview.redd.it/70a6qyt3angb1.png?width=729&format=png&auto=webp&s=db20988573130cd6a013ef7378b66b88fad8e807 In a twist of events, the bot owner, known as elizab.eth, responded to Chang's post claiming the funds were STOLEN but offered a 10% bounty if the funds were returned. https://preview.redd.it/j59yc8nlangb1.png?width=723&format=png&auto=webp&s=5b4a12ba9c176e68d364467421809488443721bd I'm inclined to think that the…
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Bitcoin price is struggling to climb above $29,500. BTC remains at risk of more downsides if there is a close below the $28,800 support. Bitcoin is still struggling to gain pace above the $29,500 pivot level. The price is trading below $29,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $29,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase toward the $29,500 resistance zone. Bitcoin Price Stuck In Tiny Range Bitcoin price struggled to clear the $29,500 resistance zone. BTC started a fresh decline within the range and traded below the $29,250 level. There was a close below $29,250 and the 100 hourly Simple moving average. However, the bulls protected the range support at $28,800. The price traded as low as $28,800 and recently started a short-term upside correction. There was a move above the 23.6% Fib retracement level of the downward move from the $29,395 swing high to the $28,800 low. However, the bears were active near the $29,200 resistance zone. There is also a key bearish trend line forming with resistance near $29,100 on the hourly chart of the BTC/USD pair. Bitcoin price is trading below $29,200 and the 100 hourly Simple moving average. Immediate resistance is near the $29,100 zone, the trend line, and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the downward move from the $29,395 swing high to the $28,800 low. Source: BTCUSD on TradingView.com The first major resistance is near the $29,400 level. The next major resistance is near the $29,500 level, above which the price might rise toward the $29,750 resistance zone. A close above the $29,750 resistance zone could start a decent increase. In the stated case, the price may even surpass the $30,000 resistance. More Losses In BTC? If Bitcoin fails to clear the $29,100 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,000 level. The next major support is near the $28,800 level, below which the price could accelerate lower. The next support is near the $28,400 level. Any more losses might call for a move toward the $28,000 level in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $29,000, followed by $28,800. Major Resistance Levels – $29,100, $29,400, and $29,500.

The rise in crypto prices, as well as non-trading revenues, became key to profitability for many of these companies.

Tried to stake my ETH on the 5th of July (on Bitstamp) and it’s just pending. I know the average wait time is 26 days but it has never taken this long to stake before in my experience. It isn’t showing on my balance and I’m not earning from it. Anyone know why this is?…
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