Ethereum’s market landscape is exhibiting signs of volatility, primarily manifested through an escalating Estimated Leverage Ratio (ELR). This metric, which serves as a barometer for market sentiment, indicates a troubling trend where an increasing number of traders are engaging in highly leveraged short positions. As highlighted by market analyst ShayanBTC, recent data implies that many
Since early September, Bitcoin has exhibited a remarkable rally, climbing approximately 31% from local lows around $53,000. This ascension culminated in a peak testing the $69,500 resistance level. However, after such substantial gains, selling pressure has emerged, prompting heightened scrutiny among investors and analysts alike. The ability of Bitcoin to maintain position above the $66,000
Ethereum, one of the leading cryptocurrencies in the market, has recently emerged from a significant technical formation known as a symmetrical triangle. This breakout is crucial as it sets the stage for potential price movements that could push Ethereum well above the $3,000 mark. Technical analysts, including a prominent figure known as “TheMoonCarl” on social
The landscape of cryptocurrency regulation in the United States continues to be tumultuous, primarily under the leadership of Gary Gensler, the chair of the Securities and Exchange Commission (SEC). In a recent interview with Bloomberg, Gensler articulated the SEC’s dedication to upholding existing securities laws, reinforcing a stringent enforcement mechanism that has faced significant criticism
On October 23, Vietnam announced a forward-looking National Blockchain Strategy, marking a significant turning point in the nation’s digital landscape. This ambitious initiative is aimed at establishing Vietnam as a preeminent center for blockchain research, innovation, and application in the Southeast Asian region by the year 2030. Within the framework of this strategy, the Vietnamese
The cryptocurrency market is undergoing a notable transformation as major whale transactions skyrocket, particularly for a few select projects. At the forefront of this phenomenon is ApeCoin (APE), an ERC-20 token associated with the Bored Ape Yacht Club (BAYC). Recent data highlights a jaw-dropping 2102.56% increase in transactions exceeding $100K within just a week, a
In the volatile world of cryptocurrency, Bitcoin has recently encountered significant headwinds as it failed to maintain momentum following a brief rise in value. After initially surging from $62,500 to nearly $69,000 within a week’s time, Bitcoin’s inability to break through the critical $70,000 threshold has led to a swift price correction. The cryptocurrency has
In a recent interview with CNBC on October 22, billionaire investor Paul Tudor Jones shed light on a pressing concern impacting economies worldwide: inflation. Jones posited the provocative notion that “all roads lead to inflation.” By emphasizing inflation’s pervasive influence on various asset classes, his statements have generated considerable attention and debate among market watchers.
As we embark on a new trading week, Ethereum has positioned itself in a favorable spot after displaying resilience at the $2,350 support level. Following a notable rebound from this low, the cryptocurrency has witnessed an upsurge, now targeting the significant resistance area around $2,800. Market participants, particularly bullish traders, are keenly anticipating this resistance
Recently, the Indian cryptocurrency exchange WazirX has found itself at the center of controversy due to allegations that it transferred approximately $75 million in cryptocurrency assets to other major exchanges without prior notification to its users. This situation emerged from a legal context involving a moratorium provided by a Singapore court following a notable hacking
