Are you feeling the winds of change in the crypto sphere? Lately, the chatter has been all about Bitcoin’s resurgence, leaving many wondering about the fate of altcoins. The Altcoin Season Index is flashing a clear signal, and it’s time to pay attention. According to CoinMarketCap (CMC), this crucial metric currently sits at a low 16, unchanged from yesterday, as of March 4th, 00:35 UTC. But what exactly does this number mean, and how should it influence your crypto strategy? Let’s dive deep into understanding the nuances of the Altcoin Season Index and what it signals for the current crypto market . Understanding the Altcoin Season Index: Your Crypto Weather Vane Think of the Altcoin Season Index as a weather vane for the cryptocurrency market. Instead of predicting rain or sunshine, it forecasts whether altcoins are outperforming Bitcoin, or vice versa. This index, meticulously tracked by CoinMarketCap , offers a data-driven perspective on market sentiment beyond just price fluctuations. It cuts through the noise and provides a clear, quantifiable measure of market trends. Here’s a breakdown of what makes up the Altcoin Season Index: Scope: It analyzes the top 100 cryptocurrencies listed on CoinMarketCap, excluding stablecoins and wrapped tokens to provide a pure representation of market dynamics. Timeframe: The index evaluates the performance of these cryptocurrencies over the past 90 days, offering a medium-term perspective that smooths out short-term volatility. Benchmark: Bitcoin (BTC) is the benchmark. The index compares the 90-day performance of each of the top 100 altcoins against Bitcoin’s performance during the same period. Scoring: The index ranges from 1 to 100. A higher score indicates a stronger ‘Altcoin Season’, while a lower score suggests a ‘Bitcoin Season’. To truly grasp its significance, let’s understand the thresholds that define Altcoin and Bitcoin Seasons. Decoding Bitcoin Season: What Does an Index of 16 Really Mean? With the Altcoin Season Index currently at 16, the message is unambiguous: we are in a Bitcoin Season . But what does this practically entail for investors and the broader crypto market ? The index operates on a simple yet powerful principle: Season Index Score Condition Market Characteristic Altcoin Season 75 or higher At least 75% of the top 100 coins outperformed Bitcoin in the last 90 days. Altcoins are generally experiencing higher gains than Bitcoin. Capital often flows from Bitcoin into altcoins, seeking higher percentage returns. Bitcoin Season 25 or lower 25% or fewer of the top 100 coins outperformed Bitcoin in the last 90 days. Bitcoin is generally outperforming altcoins. Capital tends to flow into Bitcoin, perceived as a safer haven in the crypto space. An index score of 16 firmly places us in Bitcoin Season territory. This means that over the past 90 days, a vast majority (more than 75%) of the top 100 cryptocurrencies have underperformed Bitcoin. Only a small fraction, 25% or less, have managed to outshine the original cryptocurrency. This dominance of Bitcoin has significant implications for the entire crypto market . Navigating the Crypto Market During Bitcoin Season: Strategies and Considerations So, what should you do when the Altcoin Season Index points to a Bitcoin Season ? Understanding the dynamics of this market phase is crucial for making informed decisions. Here are some key considerations: Bitcoin Dominance: Bitcoin Season often coincides with increased Bitcoin dominance. This means Bitcoin’s market capitalization grows at a faster rate than the rest of the market, or it declines less during downturns. Keep an eye on Bitcoin dominance charts to gauge the strength of this trend. Altcoin Performance: While it’s called ‘Bitcoin Season’, it doesn’t mean all altcoins will necessarily decline in price. However, their growth may be slower and potentially more volatile compared to Bitcoin. Selectivity is key. Research and focus on fundamentally strong altcoins that can weather the Bitcoin-centric market. Risk Assessment: Bitcoin is generally perceived as less risky than altcoins . During Bitcoin Season, investors often gravitate towards Bitcoin as a ‘safe haven’ within the volatile crypto space. Consider adjusting your portfolio risk profile based on your risk tolerance and investment goals. Trading Strategies: Traders might consider strategies that capitalize on Bitcoin’s strength, such as longing Bitcoin or Bitcoin-paired trading. For altcoin enthusiasts, identifying oversold altcoins with strong fundamentals could present buying opportunities, but caution and thorough research are paramount. Long-Term Perspective: Market seasons are cyclical. Bitcoin Season might be followed by an Altcoin Season, and vice versa. Avoid making impulsive decisions based solely on short-term market trends. Maintain a long-term perspective and focus on the fundamental value of your crypto investments. CoinMarketCap: Your Reliable Source for Market Intelligence Platforms like CoinMarketCap are indispensable tools for navigating the complexities of the crypto market . The Altcoin Season Index is just one of the many valuable metrics CMC provides to empower investors with data-driven insights. Here’s how CoinMarketCap can enhance your crypto journey: Real-time Data: Access up-to-the-minute price data, market capitalization, trading volume, and other crucial metrics for thousands of cryptocurrencies. Market Analysis Tools: Utilize tools like the Altcoin Season Index, dominance charts, and historical data to analyze market trends and identify potential opportunities and risks. Comprehensive Information: Explore detailed information about each cryptocurrency, including project descriptions, team details, tokenomics, and community links. Portfolio Tracking: Monitor your crypto holdings and track your portfolio performance directly on the platform. Educational Resources: Access a wealth of educational content, including articles, guides, and videos, to enhance your understanding of the crypto space. By leveraging the resources offered by CoinMarketCap and similar platforms, you can stay informed, make smarter investment decisions, and navigate the ever-evolving crypto market with greater confidence. Embrace the Season: Adapting to Market Cycles The Altcoin Season Index at 16 is a clear indicator: Bitcoin is currently leading the charge in the crypto market . While this might mean a period of relatively slower growth for altcoins in general, it’s crucial to remember that market seasons are cyclical. Understanding these cycles, utilizing tools like the Altcoin Season Index from CoinMarketCap , and adapting your strategies accordingly are key to long-term success in the dynamic world of cryptocurrency investing. Don’t fear the Bitcoin Season ; instead, see it as an opportunity to reassess, strategize, and position yourself for the next shift in market winds. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.
The post Pi Price Surges Amid Crypto Blood Bath as the Selling Pressure Evaporates—May Trigger a 30% Upswing Soon appeared first on Coinpedia Fintech News The crypto markets underwent a brief upswing followed by an announcement of a crypto strategic reserve involving top tokens like Bitcoin, Ethereum, XRP, Solana, & Cardano. Meanwhile, the markets dropped as President Trump confirmed the start of 25% tariffs on Canada & Mexico. While Bitcoin plunged below $84,000 and is struggling to regain the lost momentum, Pi Network is displaying decent strength. The PI price has been trying very hard to keep up the momentum since the early trading hours. What’s next? Will Pi price reclaim $2 this month? Soon after the launch, the PI price spiked high to mark highs close to $3 but failed to surpass the range. Currently, the token has surpassed Hedera and reached the 11th spot of the crypto rankings, which suggests it could be the next big thing in the markets. The price has sustained a notable bullish trend despite the ongoing market crash. Therefore, the price is now believed to reclaim the lost levels and close the quarterly trade on a bullish note. As seen in the above chart, the PI price broke out from the falling wedge in the short term but has yet to validate the upswing. After experiencing massive volatility, the volatility has squeezed as the Bollinger Bands have contracted well. Besides, the stochastic RSI has reached the overbought zone, which suggests that a temporary pullback could be on the horizon. Meanwhile, the local support zone, between $1.6 and $1.62, could offer a strong base, which may trigger a strong rebound to the upper resistance around $1.92. Regardless of the growing strength and potential to surpass the giants, the Pi Network is yet to get listed on Binance. In the times when the newly launched memecoins get listed within minutes, this delay could have a negative impact on the token, instigating a huge whale sell-off. Meanwhile, the PI price is believed to maintain a healthy ascending trend even if it fails to get a bigger platform like Binance.
As of March 4th, recent data from Coinglass reveals that the overall open interest in Bitcoin futures contracts has reached 559,410 BTC, valued at approximately $46.81 billion, reflecting a notable
After failing to reclaim the important $3k level in February, Ethereum released pressure again and plunged to a key support level. It has seen a major recovery following a bounce back but is now losing steam. Ethereum has continued to mirror Bitcoin’s weekly movement but has failed to break below its critical $2,100 level, which has been providing support for the past four months. Respecting this critical level again, it bounced and recovered nicely to where it’s changing hands at around $2,378. The $2,550 level has posted a threat to the buyers in the past hours and is now holding it as resistance. A surge above it could trigger more increases in the coming days. Although it has formed a double-top pattern on the weekly chart, the price may crash soon. The potential target level for such a crash is $1,650. As soon as the price touches this level, a major bounceback is expected. The only condition for a bullish move right now is holding the critical support level. If it continues to strengthen, we may see a strong rally above the important $3k level before considering a reversal. While the trend is still in favour of the bears, they appear set for another rally. ETH’s Key Level To Watch Source: Tradingview The potential support levels for selling right now are $2,310 and $2,076. If the price breaks lower, $1,900 and $1,700 are the next support levels to consider for a test. In case of a reversal, ETH must retake a lot of resistance on the way up. For now, the close resistance level to watch for a test is $2,550 and $2,700. Higher resistance levels to keep in mind are $2,920 and $3,213. Key Resistance Levels: $2,550, $2,920, $3,213 Key Support Levels: $2,310, $2,076, $1,900 Spot Price: $2,378 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: zephyr18/ 123RF
After forming a double-top pattern, Bitcoin broke down to a four-month low but has recovered significantly from the dip. It currently appears strong, but the next direction remains unknown while bearish. As expected, Bitcoin’s price collapsed last week following a strong breakthrough at the crucial $90k level, which has been standing as support for more than three months. It tested $78.2k with a long wick and closed that week’s price well above the lost crucial support. The collapse started after losing grip above the $95k level, but the price interestingly retested that level during yesterday’s surge – completing a break and retest pattern. The level was rejected, and the price dropped to around $93.6k at the time of writing. Retaking the rejected high with a surge could fuel more buying towards the $100k mark. This could signal a trend shift on the daily chart. But looking at the market, there’s no conviction for a shift yet following the latest price rejection. Of course, Bitcoin’s downtrend is still in play on the daily chart, but things are likely to change if the price stays well above the recent low. Otherwise, it may experience more dips in the coming days. Currently, it is gaining traction on the day. BTC’s Key Levels To Watch Source: Tradingview Marking the $95k level as resistance since last weekend, a push above it should advance recovery to $99,550. The $103,278 level is the next resistance to watch, followed by the $109,588 resistance. Towards the downside, the $91k level is providing support along with $85k and $80k. If the price collapses through these levels to reclaim last week’s $78,258 low, the next drop may surface at $71k. Key Resistance Levels: $99,550, $103,278, $109,588 Key Support Levels: $91,000, $85,000, $80,000 Spot Price: $93,615 Trend: Bearish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: alekskhmelev/ 123RF // Image Effects by Colorcinch
Crypto markets have lost more than 12% or almost $400 billion since the Sunday peak, and one of the largest losers has been Ethereum. ETH prices crashed to their lowest levels in 16 months, plunging 15% to $2,035 during early trading in Asia on Tuesday morning. The last time ETH traded below $2,000 was in November 2023, as the asset was slowly thawing from crypto winter. Ethereum has now returned to bear market levels and has dumped 50% since it tapped $4,000 in early December 2024. ETH Death Predicted Analyst ‘Nebraskangooner’ looked at the monthly timeframe chart and identified a double-top formation before predicting that prices would break down to the $1,200 level. This would send ETH back to bear market lows from late 2022 when it bottomed out at around $1,100. $ETH Monthly double top confirmed. Measured pattern breakdown target is somewhere close to $1200 https://t.co/2T4JCzBloh pic.twitter.com/mM29h3LOtI — Nebraskangooner (@Nebraskangooner) March 4, 2025 Analyst Dana Marlane commented that Ethereum has broken its uptrend and “appears to have confirmed a double top that could take price back to $1,000.” The ETH angst was shared among other analysts. “Ethereum may genuinely be one of the worst charts I have ever seen,” said Arete Capital managing partner McKenna. Ethereum may genuinely be one of the worst charts I have ever seen. pic.twitter.com/4nOWi0ZuyH — McKenna (@Crypto_McKenna) March 3, 2025 The ‘Anonymous Crypto Predictions’ feed said that ETH needed to close above the 200-week moving average as it did last week. This long-term trend indicator is currently around the $2,500 level, and ETH is well below that. Additionally, the ETH/BTC ratio, or price of ether in terms of bitcoin, fell to a five-year low of 0.024 this week as the asset tanked. #Ethereum – The key level to watch is the 200 weekly (black line). We need to close back above that like we did last week. Expect lots of manipulation and volatility. pic.twitter.com/aIskRebYqV — Anonymous | Crypto Predictions (@Crypto_Twittier) March 4, 2025 Flight to Risk-Off Many were questioning why crypto was crashing in such a bullish environment in the United States following years of being persecuted under the Biden administration. The Kobeissi Letter explained that the real driver here is the global move towards the risk-off trade and assets. “As trade war tensions rise and economic policy uncertainty broadens, ALL risky assets are falling. This was seen in stocks, crypto and oil prices, which all fell sharply today.” Moreover, Bitcoin is no longer seen as a store of value, having decoupled from gold, which hit an all-time high in late February. When Bitcoin falls, the digital lemmings follow, and Ethereum has been the first off the cliff. What is happening with crypto? Crypto markets are now worth -$100 billion LESS than they were prior to the US Crypto Reserve announcement. Over the last 24 hours, crypto has erased -$500 BILLION of market cap in a massive reversal. Here’s what you need to know. (a thread) pic.twitter.com/xlsqsnQKKd — The Kobeissi Letter (@KobeissiLetter) March 4, 2025 The post Ethereum Tanks to 16-Month Low as Analysts Predict Plunge to $1,200 appeared first on CryptoPotato .
El Salvador's continued Bitcoin investments amid IMF conditions highlight its commitment to crypto, potentially impacting its financial policies. The post El Salvador buys Bitcoin dip, adding 5 BTC amid price plunge to $83,000 appeared first on Crypto Briefing .
North Korea’s Lazarus Group has reportedly laundered all the 499,000 ETH, roughly $1.39 billion, stolen from the Bybit hack in just 10 days. According to a Mar. 4 post on X by on-chain analyst EmberCN, who has been tracking the stolen funds, much of the Ethereum ( ETH ) was funneled through THORChain ( RUNE ), a decentralized cross-chain liquidity protocol, and converted into Bitcoin ( BTC ). 黑客已经把从 Bybit 盗取的 49.9 万枚 ETH ($13.9 亿) 全部清洗完了，整个过程历时 10 天。 ETH 价格在这个过程中下跌了 23% (从 $2,780 跌到现在的 $2,130)。 而黑客洗钱使用的主要通道 THORChain 也因黑客洗钱获得了 $59 亿的交易量跟 $550 万的手续费收入。 本文由 #Bitget ｜ @Bitget_zh 赞助 https://t.co/osoKNzFhkG pic.twitter.com/QUWuMmV6zH — 余烬 (@EmberCN) March 4, 2025 THORChain has handled $605 million in transactions in the last 24 hours alone. The platform has received criticism for its involvement in facilitating illegal transactions, after recording $5.9 billion in volume and collecting $5.5 million in fees during the laundering process. One critic on X referred to THORChain’s response as “negligence at best, greed at worst.” While other protocols acted accordingly to stop the movement of stolen funds, THORChain validators did not take any meaningful action. Pluto, a core contributor, resigned in protest after a governance proposal to halt ETH transactions was rejected. You might also like: Binance pushes for stricter security regulations following $1.4b Bybit hack Meanwhile, Bybit CEO Ben Zhou has since provided an update on the movement of the stolen assets. In a Mar. 4 post on X, he revealed that 77% of the stolen funds remain traceable, while 20% have gone dark, and 3% have been frozen. 3.4.25 Executive Summary on Hacked Funds: Total hacked funds of USD 1.4bn around 500k ETH, 77% are still traceable, 20% has gone dark, 3% have been frozen. Breakdown: – 83% (417,348 ETH, ~$1B) have been converted into BTC with 6,954 wallets (Average 1.71 btc each) . This and… — Ben Zhou (@benbybit) March 4, 2025 According to Zhou, 83% of the laundered funds were converted into Bitcoin, distributed across 6,954 wallets, with 72% ($900 million) of these funds passing through THORChain. Moreover, after being transferred through ExCH, 16% of the assets became untraceable, and the OKX Web3 Proxy processed another 8% ($100 million). Bybit has since launched Lazarusbounty.com, a fund-tracking website, and it is providing bounties to exchanges that help recover the stolen assets. So far, $2.17 million in rewards have been paid to 11 bounty hunters, with Mantle, Paraswap, and ZachXBT among the top contributors. Read more: Safe Wallet responds to Bybit hack with major security improvements
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Spot Bitcoin ETFs in the U.S. shifted back to outflows on March 3 as Bitcoin retraced gains, driven by a risk-off sentiment stemming from trade tensions and skepticism over a U.S. crypto reserve fund. According to data from SoSoValue, the 12 spot Bitcoin ETFs resumed their outflow trend on Monday, with $74.19 million exiting the funds following a previous day of net inflows totaling $94.34 million . BlackRock’s IBIT led the outflows for the third consecutive day, with $77.97 million in net redemptions, while Grayscale’s GBTC continued its outflow trend with $54.39 million withdrawn by investors. ARK and 21Shares’ ARKB bucked the trend with $58.18 million in net inflows. The remaining nine BTC ETFs saw no activity on the day. The total daily trading volume for these investment products stood at $5.99 billion on March 3, while total net inflows since their launch amounted to $36.97 billion as of press time. Meanwhile, the nine Ethereum ETFs recorded their eighth consecutive day of outflows on the same day, with $12.10 million exiting the funds. The negative flow was led by BlackRock’s ETHA, which saw investors withdraw $16.06 million. Some of these outflows were offset by $3.96 million in inflows into Bitwise’s ETHW fund. The remaining seven ETH funds remained neutral on the day. The significant outflows from these ETFs come amid a risk-off sentiment among investors, driven by U.S. President Donald Trump’s confirmation that the U.S. will impose 25% tariffs on Canada and Mexico starting March 4, eliminating hopes for a last-minute deal that could have eased trade tensions. In response, both countries have vowed to retaliate. Additionally, a 10% tariff on Chinese imports will take effect the same day. You might also like: CryptoQuant CEO says Trump turned crypto into ‘a weapon of the United States’ Further concerns stem from Trump’s announcement of plans to establish a U.S. Crypto Strategic Reserve, which would consist of a basket of crypto assets, including Bitcoin and Ethereum, as the core holdings. While the initiative aims to position the U.S. as the “Crypto Capital of the World,” it has drawn criticism from the crypto community, with many arguing that it contradicts Bitcoin’s core principle of decentralization. Some fear that a currency designed to be free from government control may now be subject to U.S. government actions. Bitcoin ( BTC ), which surged 11% to an intraday high of $94,770 on Monday, retraced 9.5% to trade at $84,011 at press time as investors adopted a risk-off stance amid escalating trade tensions and concerns over the feasibility of the strategic reserve plan. Ethereum ( ETH ) also took a hit, dropping 13.8% over the past day to $2,098 at the time of writing. Weighing in on Bitcoin’s recent volatility, Matt Mena, crypto research strategist at 21Shares, told crypto.news that the market reaction is driven by “renewed fears of inflation and economic uncertainty,” though he believes the selloff is an overreaction. According to Mena, many investors anticipated this move, and as futures markets adjust overnight, Bitcoin could find stability when trading resumes. “When the market opens [on March 4], we’ll likely see this stabilize as the futures market corrects for today’s move,” he said. While short-term price swings due to macroeconomic events like tariffs may continue, Mena believes these developments are ultimately laying the groundwork for “long-term growth and mainstream financial integration.” Read more: Trump’s cryptocurrency reserve proposal ‘lacks details’: pro