XRP price started a fresh decline below the $2.450 and $2.350 support levels. The price is now consolidating losses and remains at risk of more losses. XRP price started a fresh decline below the $2.350 level. The price is now trading below $2.320 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.250 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to move down unless there is a close above the $2.3350 resistance zone. XRP Price Fails To Recover XRP price failed to continue higher above the $2.50 resistance zone and started a fresh decline, like Bitcoin and Ethereum . There was a move below the $2.35 and $2.250 support levels. The price even dipped below the $2.20 support to enter a bearish zone. A low was formed at $2.0639 and the price attempted a recovery wave. There was a spike above the 50% Fib retracement level of the downward wave from the $2.604 swing high to the $2.206 low. However, the bears remained active at $2.350. There is also a key bearish trend line forming with resistance at $2.250 on the hourly chart of the XRP/USD pair. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.250 level. The first major resistance is near the $2.3250 level. The next resistance is $2.40 or the 61.8% Fib retracement level of the downward wave from the $2.604 swing high to the $2.206 low. A clear move above the $2.40 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.550 resistance or even $2.5650 in the near term. The next major hurdle for the bulls might be $2.620. More Losses? If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.1480 level. The next major support is near the $2.120 level. If there is a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.1480 and $2.120. Major Resistance Levels – $2.250 and $2.3250.
Core Scientific has announced a $1.2 billion expansion of its Denton, Texas, data center in partnership with artificial intelligence-focused cloud provider CoreWeave. According to Core Scientific’s Feb. 26 press release , the agreement adds 70 megawatts of contracted power, bringing the site’s total critical information technology load to 260 MW. Across six locations, CoreWeave now has 590 MW of infrastructure contracted with Core Scientific, reflecting the rising demand for AI and general processing unit-powered computing. Core Scientific chief executive officer Adam Sullivan noted that the expansion will strengthen the company’s position as a leader in AI-focused digital infrastructure. “By expanding our capacity in Denton, we’re building one of the largest GPU supercomputers in North America — reinforcing Core Scientific’s leadership in delivering high-density, high-performance digital infrastructure. ” – Adam Sullivan, Core Scientific CEO You might also like: Zuvu AI and Vana Partner to boost Bittensor’s Decentralized AI Core Scientific has been shifting part of its computing resources toward AI, as Bitcoin ( BTC ) miners look for alternative revenue sources amid higher energy costs and the 2024 halving event which slashed miner rewards by half. With billions in projected cumulative revenue from CoreWeave, Core Scientific is betting on AI and high-performance computing as key drivers of growth. The company expects $10.2 billion in total revenue over 12-year contract terms. Under the agreement, Core Scientific will fund $104 million in capital expenditures, while CoreWeave will cover additional costs. Core Scientific will have a long-term stake in AI infrastructure thanks to the agreement’s two optional five-year renewal options. The company intends to use 400 MW of its 1.3 gigawatts of contracted power for Bitcoin mining activities and 900 MW for HPC hosting. To strengthen its position as a significant player in the data center sector, Core Scientific is also actively looking for new locations to increase its AI and cloud computing capabilities. Read more: Gotbit founder Aleksei Andriunin extradited to the U.S.
The price of Dogecoin has declined by over 6% in the last 24 hours, following a broader market downturn. Bitcoin also dropped below $84,000, adding to the pressure on cryptocurrencies. Several factors, including market trends and economic developments, have contributed to Dogecoin’s price movement. Dogecoin Price Plummets, Is A Recovery Near? Dogecoin’s price has fallen to around $0.20, with analysts suggesting that it is following a familiar cycle seen in previous years. Historically, Dogecoin has gone through corrections before rebounding. Crypto analyst Bithereum noted that Dogecoin price was moving within a falling wedge pattern, which indicated that a drop to $0.20197 was likely. This level has been tested, aligning with historical trends where Dogecoin price experiences pullbacks before rallying. Despite the drop, analysts believe Dogecoin could reverse to the upside, potentially reaching $0.45 soon. DOGE/USD price chart (Source: TradingView) Another factor contributing to the DOGE price decline is the decrease in network activity. According to market data, new address creation on the Dogecoin network has significantly dropped from 1.29 million in November to just 30,815. A decline in new addresses suggests lower investor participation, which can weaken buying pressure and lead to price declines. Donald Trump 25% European Union Impact on DOGE Price Dogecoin price recent drop also comes amid broader economic concerns. A major factor influencing the market is U.S. President Donald Trump’s announcement of a 25% tariff on the European Union. “We have made a decision, and we’ll be announcing it very soon. It’ll be 25 per cent,” Trump said during a cabinet meeting, as reported by the Financial Times. His comments raised concerns about potential trade tensions between the U.S. and the EU, which affected global markets, including cryptocurrencies. Following the announcement, Bitcoin price fell below $84,000 , dragging the broader crypto market down. Dogecoin saw a decline of over 6%, as traders reacted to economic uncertainty. Some analysts believe that fear surrounding economic policies led to increased selling pressure across digital assets. Concurrently, continued DOGE selling pressure , particularly from large investors, could lead Dogecoin to retest lower levels before stabilizing. Dogecoin Price May Be Ready for a Rebound, Top Analyst Despite the price drop, technical indicators suggest that Dogecoin price may be approaching a reversal. According to crypto analyst Ali (@ali_charts), the TD Sequential indicator has flashed a buy signal on the daily chart. This indicator is often used to identify potential trend reversals, suggesting that Dogecoin could soon experience upward momentum. Trader Tardigrade, another analyst, pointed out that DOGE price has been following a similar pattern to its 2017-2018 bull run. If the trend continues, Dogecoin could see a strong rally, potentially moving toward the $1.70 level. Additionally, Master Kenobi noted that Dogecoin is holding above a critical trend line that has historically acted as support. He also mentioned that Dogecoin’s Relative Strength Index (RSI) is at its lowest level since March 2023, which could indicate that the selling pressure is easing and a recovery may follow. Consequently, crypto analysts have identified key price levels that could determine Dogecoin price next move. If Dogecoin price maintains its support around $0.20, a potential rebound could push it toward targets of $0.30998, $0.37154, and $0.45918 in the coming weeks. The post Why Dogecoin Price is Going Down Today? appeared first on CoinGape .
Bitcoin has fallen below $85,000, continuing its sharp decline as traders react to President Donald Trump’s announcement of new tariffs on European imports. Speaking at his first cabinet meeting on Feb. 26, U.S. President Donald Trump reiterated his intention to put a 25% tariff on European Union goods, as reported by The Guardian. The cryptocurrency industry has been significantly impacted by this announcement. Bitcoin ( BTC ) is currently down 4% in the last 24 hours, trading at $84,600 levels at press time. The broader crypto market has also suffered, with total market cap shrinking 4% following President Trump’s remarks, according to CoinGecko. CoinGlass data also shows that total liquidations have surpassed $765 million in the past 24 hours, adding to the $1.5 billion wiped out on Feb. 25. According to SoSoValue data , the market decline has coincided with the biggest one-day withdrawal from Bitcoin ETFs since their inception, with $937.78 million leaving on Feb. 25. This further solidifies the change in institutional investors’ sentiment, bringing the total outflows for the last week to almost $1.5 billion. You might also like: Here’s why Bitcoin and Ethereum prices could recover despite February’s losses Since Trump took office in January, Bitcoin has fallen about 20% from its peak of $109,225. After Trump’s election victory and hopes of a more favorable regulatory environment, there was a period of optimistic momentum, followed by the current sell-offs. Hopes for rapid implementation of pro-crypto policies have declined as the administration seems to be prioritizing aggressive trade policies. Security concerns have also shaken investor sentiment. The market’s liquidity has been depleted by the collapse of the Solana memecoin boom, and concerns over centralized exchange vulnerabilities have been ignited by the unresolved $1.4 billion Bybit hack . Although some analysts see the correction as a healthy reset, others caution that a decline below $80,000 would lead to yet another round of liquidations, which might send Bitcoin toward $70,000. Traders continue to exercise caution as macroeconomic uncertainty rises, anticipating possible regulatory changes that would re-establish trust in the digital asset market. Read more: Strategy launches Bitcoin Hub in Tysons Corner: ‘a free co-working space’
Ethereum price started a fresh decline from the $2,450 resistance zone. ETH is now consolidating losses and might face hurdles near $2,400 and $2,450. Ethereum is facing an increase in selling below the $2,450 zone. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,390 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if it settles above $2,400 and $2,500. Ethereum Price Extends Losses Ethereum price failed to clear the $2,550 resistance zone and started a fresh decline, like Bitcoin . ETH gained pace below the $2,500 and $2,450 support levels to move further in a bearish zone. The price declined over 5% and even traded below the $2,320 support zone. A low was formed at $2,251 and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $2,519 swing high to the $2,251 low. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average . There is also a connecting bearish trend line forming with resistance at $2,390 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,380 level or the 50% Fib retracement level of the downward move from the $2,519 swing high to the $2,251 low. The first major resistance is near the $2,420 level. The main resistance is now forming near $2,450. A clear move above the $2,450 resistance might send the price toward the $2,500 resistance. An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,620 in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,500 resistance, it could start another decline. Initial support on the downside is near the $2,315 level. The first major support sits near the $2,250 zone. A clear move below the $2,250 support might push the price toward the $2,200 support. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,250 Major Resistance Level – $2,500
According to recent data from 8marketcap, Bitcoin has fallen to the eleventh position in the global asset market capitalization rankings, indicating a significant shift in market dynamics. Currently, Bitcoin’s market
On February 27th, COINOTAG reported that President Trump convened his initial cabinet meeting, where he reaffirmed plans to implement **tariffs** targeting Canada, Mexico, and a notable **25% tariff** on the
The crypto market is experiencing a significant upheaval, with a staggering $300 billion erased in just 24 hours. This massive sell-off has raised concerns among investors, prompting analysts to explore the underlying causes of this dramatic decline. Bitcoin And Ethereum Plummet According to insights from the Kobelsi Letter, a global commentator on capital markets, the frequency of “flash crashes” in the crypto sector has surged since January. These rapid price declines can occur without major bearish news, leaving investors puzzled about the sudden volatility. The recent downturn began with Bitcoin (BTC), which initially fell below $95,000. However, a sharp drop from $95,000 to $90,000 within just 30 minutes early in the morning served as a wake-up call for traders. Ethereum (ETH) has fared even worse, experiencing a staggering 37% drop over 60 hours on February 2nd, despite trade war headlines that had already been priced into the market. Related Reading: Why Ethereum Is A Must-Watch: Expert Analysis Highlights 4 Strong Bullish Indicators One of the critical factors contributing to this crypto volatility, according to the analysts, is the drastic shift in liquidity and short positioning in Ethereum. In a single week, short positions surged by 40%, and since November 2024, they have skyrocketed by 500%. This unprecedented level of shorting by Wall Street hedge funds has created a precarious situation for Ethereum, which is now valued at approximately $300 billion. As institutional investors increasingly short Ethereum, many have turned their attention to Bitcoin, creating a stark contrast in market dynamics. While retail interest in Bitcoin has waned, driven partly by a surge in memecoins, institutional capital continues to flow into Bitcoin, exacerbating the volatility in altcoins like Solana. Retail Vs Institutional Investors Amid Crypto Volatility Kobelsi further highlights that the current market environment is characterized by a polarization between retail and institutional investors. As liquidity decreases, price movements become increasingly erratic. This has resulted in significant “air pockets,” where sentiment can shift dramatically, leading to rapid price changes. Recent sentiment analysis reveals that the crypto market is experiencing its lowest levels of enthusiasm for 2024. The Crypto Fear and Greed Index, which previously indicated a state of greed, has now dropped to a fear level of 29%. Such shifts in sentiment often precede flash crashes, as traders react to the changing landscape. Related Reading: XRP Price Continuation After Crash Below $2.4? New Targets Emerge Adding to the complexity of the situation, public figures like Eric Trump have been vocal about their views on the largest crypto assets, Bitcoin and Ethereum. Trump has suggested that these price dips present buying opportunities, a perspective that may influence retail investors’ behavior. Furthermore, companies like MicroStrategy have also impacted the crypto market dynamics. Despite a 45% drop in its stock since its November 20th peak, MicroStrategy continues to accumulate Bitcoin through convertible note offerings, reinforcing its commitment to the crypto and potentially influencing market sentiment. So far, Ethereum has managed to regain the $2,500 level after falling below $2,300 on Tuesday, recording losses of 7% in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
As the cryptocurrency market continues to evolve, the predictive insights by Assure DeFi CEO Chapo highlight the significance of the Market-Value-to-Realized-Value (MVRV) metric in forecasting Bitcoin’s price movements. Chapo’s assertion
Assure DeFi CEO and crypto analyst Chapo predicts Market-Value-to-Realized-Value will peak around 3.2 this cycle, signaling the market top.