Category: Cryptocurrency News

The funds raised from the event will help 4,000 people impacted by cancer and locals who need immediate and vital support.

The action reportedly came as a part of a general inquiry of French antitrust authorities into the cloud computing sector.

In the last 24 hours, the Bitcoin price experienced a significant surge of 2%, touching an intraday high of $27,320 yesterday. As of this writing, the BTC price hovered near the $27,000 mark. Why Is Bitcoin Price Up Today? Several analysts have offered insights into the recent upward trajectory. Renowned crypto specialist Skew elucidated on Twitter, “BTC Aggregate CVDs & Delta: Lower timeframe stuff but pretty clear spot absorption around the high, so $27.2K is an important price area to clear for spot buyers. Most of the push up was perp driven with spot trailing price (short liquidations & strong perp bid).” Related Reading: Bonds Out, Bitcoin In? Bloomberg Analyst Predicts Major Portfolio Shifts Skew’s chart unveils that the momentum was predominantly backed by short liquidations and sturdy bids in the perpetual markets. Upon touching the $27,200 threshold, spot market selling began, indicating a potential local zenith for the Bitcoin price. Complementing the data, on-chain analytics firm Santiment confirmed that open long and short Bitcoin positions surged as Bitcoin’s price enjoyed a bullish Thursday. The chart shared by Santiment correlates Bitcoin’s ascent with the augmented open interest in the futures market. “After a quick price retrace after those longs & shorts quickly closed yesterday, they have remained high today, allowing prices to maintain their levels,” the on-chain tracker said. On a bullish note, Santiment commented that Bitcoin sharks and whale addresses, which are defined as 10-10,000 BTC wallets, have now accumulated to their highest amount held in 2023, amounting to 13.03 million BTC. Additionally, Tether sharks and whales are accumulating buying power. “This is generally a bullish combination,” Santiment remarked. Nonetheless, the analysis firm also sounded a note of caution: “The long-term outlook is bright for Bitcoin with whales accumulating BTC & USDT. However, watch for a short-term correction, with traders profit taking heavily as $27K hit Thursday. When the 7D MVRV gets below 0, that may be ideal for another leg up.” Related Reading: Marathon Digital Mines Invalid Bitcoin Block Amid Heightened BTC Volatility Their data further highlights that during yesterday’s significant move, Bitcoin showcased its highest on-chain profit/loss mark in the past quarter, which usually hints at an impending short-term correction. DaanCrypto, another industry pundit, remarked during the price flux, “Bitcoin Price up, Spot Premium up, Funding down. This move has seen a strong sustained spot bid so far which is looking quite healthy as we speak.” Similarly, renowned crypto analyst Exitpump chimed in during the price crescendo with the observation, “BTC Binance spot orderbook: Noticed chasing bid on the book with big asks stacked slightly above the price, it’s getting interesting. Maybe a spoof buy wall, but I think that it just grinds higher.” What’s Next For BTC Price? As described in one of our last analyses, the Bitcoin price is facing a crucial monthly close tomorrow, Saturday. Rekt Capital, a seasoned crypto analyst, recently spotlighted the significance of Bitcoin’s approaching monthly candle close. Via X, he emphasized that Bitcoin is currently treating the $27,000 mark as a resistance. He elaborated, “Bitcoin needs to monthly close above $27,091 for this to be a fake-breakdown. Otherwise, the breakdown will be technically confirmed.” In this case, a fall toward $23,000 could be imminent. On the 1-day chart, Bitcoin is showing strong bullish momentum today. The BTC price has managed to break the (black) trend line. The task today is to defend the re-test. If it succeeds, a monthly close above $27,100 seems very likely, and a rally similar to June could be possible. Featured image from Shutterstock, chart from TradingView.com

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Maker (MKR) is currently making waves in the cryptocurrency market with an impressive surge in value. Over the past month, MKR has exhibited remarkable growth, experiencing a substantial 40% increase in price. Today, the crypto flexes its muscle and leads the roster of top 50 coins. One noteworthy development amidst this rally is the strategic maneuver executed by a prominent crypto whale. This entity recently deposited 3,527 MKR tokens on the Binance exchange, capitalizing on the upward trajectory of MKR’s price.  This shrewd move has boosted the whale’s total MKR holdings to an impressive 10,000 tokens, resulting in a staggering $5.12 million in profits. This remarkable increase in value underscores the attractiveness of MKR as a lucrative investment in the current crypto landscape. The price of $MKR has increased by ~40% in the past 1 month and topped $1,500 today. A smart whale deposited 3,527 $MKR($5.27M) to #Binance to make a profit an hour ago. And currently has 10,000 $MKR($14.9M) left, the total profit is ~$5.12M(+34%).https://t.co/4atyyejMwJ pic.twitter.com/SyEBI3pNg4 — Lookonchain (@lookonchain) September 28, 2023 Related Reading: Under-The-Radar Altcoin Soars Over 260% – Here’s Why Maker: Impressive Metrics And Bullish Indicators As of the latest data from CoinGecko, MKR is currently trading at $1,553, reflecting a notable 4.1% gain in the past 24 hours and an impressive seven-day surge of 20%. What sets this rally apart is the consistency in MKR’s price patterns, characterized by higher highs and higher lows, a clear indicator of a bullish trend in the market.  The Relative Strength Index (RSI), according to recent price analysis, lends further credence to this bullish sentiment, with a reading of 79.34, indicating robust bullish momentum surrounding the MKR token. 📈 #Maker‘s price has now surged +40% in the past 16 days with its active addresses hitting a 10-week high in tandem with the asset crossing $1,500. An inflow of $MKR moving to exchanges is something to be cautious of for at least a temporary local top. https://t.co/oFeijYNZCO pic.twitter.com/rStBGX6TdM — Santiment (@santimentfeed) September 28, 2023 In addition to the price surge, data provided by Santiment reveals that the number of active MKR addresses has reached a 10-week high. This not only signifies an influx of new users into the Maker ecosystem but also highlights heightened activity among existing supporters of the protocol.  MKR market cap currently at $1.5 billion. Chart: TradingView.com MKR Breaches $1,500 Barrier Interestingly, this surge in activity coincided with MKR’s price surpassing the $1,500 threshold, suggesting a correlation between price action and increased user engagement. However, amid the optimism, Santiment issues a cautionary note for MKR investors. They emphasize the importance of vigilance concerning the current influx of tokens to exchanges, as this trend may foreshadow a potential market correction in the short term. While the current bullish momentum is undeniable, investors should remain cautious and mindful of the potential market dynamics in the coming days. Related Reading: Solana Bulls Struggle To Break $21 Barrier – What Lies Ahead? (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 Shutterstock

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“Spending way more than we earn” — CEO Tim Sweeney blamed job cuts on major structural changes to the company’s economics.

“I think he’ll get the maximum sentence” — one lawyer predicts the former FTX CEO could look at life behind bars if convicted of all seven charges.