Bitcoin Price Dip: $5,000 Drop Challenges Market Sentiment Bitcoin (BTC) has recently faced a significant downturn, dropping over $5,000 in a single day amidst growing macroeconomic concerns, prompting discussions about
On-chain data shows less than 1% of all Bitcoin holders are still in loss following the surge in the asset’s price above the $100,000 level. Very Few Bitcoin Addresses Are Sitting Underwater At Current Price In a new post on X, the market intelligence platform IntoTheBlock has discussed about the profit-loss distribution of the Bitcoin userbase after the recovery run that the cryptocurrency has seen. Related Reading: Bitcoin Signal That Took Price From $69,000 To $108,000 Appears Again BTC is now not too far from its all-time high, so there wouldn’t naturally be many investors left in loss. Below is the chart shared by the analytics firm that shows the price ranges inside which these few addresses still underwater bought their coins. In the graph, the size of the dot corresponds to the amount of BTC that the holders last purchased inside the corresponding price range. Evidently, there are only very small dots associated with the levels ahead of the current spot price. In total, these ranges contain the cost basis of approximately 380,000 addresses. This may sound like a lot, but given the sheer size of the BTC userbase, this number makes up for less than 1% of all holders of the asset. Address cost basis levels are considered important in on-chain analysis due to the fact that investors are more prone to making moves whenever their profit-loss status is about to flip. Holders who were in loss prior to the retest (that is, when the retest takes place from below) might respond by selling, as they could fear the price would go down again in the future, making this potentially their only opportunity in the near term to get their money back. This selling can visibly affect Bitcoin if the level being retested contains the acquisition level of a large amount of investors. At present, though, the ranges ahead of the asset are clearly quite thin with addresses, meaning they should likely offer little in the way of resistance from such panic sellers. Related Reading: Bitcoin Exchange Supply Breaks Equilibrium: Whales Scoop Up 240,000 BTC This doesn’t necessarily mean crossing these levels would be a walk in the park for the coin, however, as when the profit-loss balance in the market shifts overwhelmingly towards profits, something else starts posing a significant risk: selling with the motive of profit-taking. The more lopsided the market gets, the higher is the probability of a mass selloff happening. With almost all Bitcoin investors sitting in gains right now, some of them are bound to exit their positions. It only remains to be seen whether demand would be strong enough to offset this selling pressure or not. BTC Price At the time of writing, Bitcoin is trading around $97,900, up 3% over the past week. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
US fintech firm Ripple and blockchain oracle provider Chainlink have partnered to accelerate the adoption of the cross-border payments firm’s stablecoin, Ripple USD. “Ripple has adopted the Chainlink standard to access highly secure and reliable pricing data around the recently launched Ripple USD (RLUSD) stablecoin,” stated Chainlink on Jan. 7. Ripple describes its new stablecoin as an “enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core.” Another Stablecoin Enters Crowded Market Chainlink’s price oracle feeds will provide real-time pricing data for RLUSD on Ethereum, which enables DeFi applications to integrate the stablecoin for trading, lending, and other uses. RLUSD is issued on the XRP Ledger and Ethereum blockchains, which makes it natively compatible with smart contract applications and DeFi. . @Ripple has adopted the Chainlink standard to access highly secure & reliable pricing data around the recently launched Ripple USD (RLUSD) stablecoin. Learn how Chainlink Price Feeds are set to accelerate the adoption of RLUSD across the DeFi ecosystem: https://t.co/BKJIgG0mpS — Chainlink (@chainlink) January 7, 2025 Johann Eid, Chief Business Officer at Chainlink Labs, said, “The adoption of tokenized assets such as stablecoins will continue to accelerate in the coming years, and having access to critical on-chain data will accelerate the process.” “By leveraging the Chainlink standard, we bring trusted data on-chain, further strengthening RLUSD’s utility across both institutional and decentralized applications,” added Jack McDonald, SVP at Ripple. RLUSD is entering a crowded stablecoin market dominated by Tether, which has a 65% market share. The total stablecoin market capitalization is at a record high of around $212 billion, representing around 6% of the entire crypto asset market, according to CoinGecko, which lists 232 stablecoins or pegged token derivatives. XRP and LINK Slide The announcement did nothing for the pair’s respective tokens, which took a hit in the broader market slump on Tuesday. Ripple’s XRP has fallen 6.4% on the day, from $2.45 to $2.28 at the time of writing. However, the cross-border token still remains up 6.6% over the past week and has gained a whopping 340% over the past three months. XRP remains around 34% down from its peak price of $3.40, which came seven years ago this week. Chainlink’s LINK took a huge 11.7% hit, falling from $23.50 to $20.5 at the time of writing as altcoins got hammered in the market correction. LINK topped $30 in a three-year high in mid-December but hasn’t managed to return there and remains down 59% from its May 2021 all-time high of $52.70. The post Ripple-Chainlink Stablecoin Partnership Doesn’t Stop XRP and LINK Sinking appeared first on CryptoPotato .
BRICS has expanded its influence with Indonesia’s entry, marking the bloc’s growing dominance in emerging markets and securing its first full membership from Southeast Asia. Indonesia Joins BRICS: Southeast Asia’s First Seat at the Global Power Table Indonesia’s accession to BRICS as a full member has been officially confirmed by Brazil’s government, with the announcement
Binance has announced that it has removed several margin trading pairs from its platform, effective January 16, 2025, 09:00. This update affects both Cross Margin and Isolated Margin trading pairs. Binance Announces Delisting of Select Margin Trading Pairs on January 16, 2025 Affected Trading Pairs Cross Margin Pairs: LIT/BTC NULS/BTC SFP/BTC Isolated Margin Pairs: BEL/BTC LIT/BTC LSK/BTC NULS/BTC SFP/BTC Important Dates and Events Users cannot transfer assets of affected pairs to their Isolated Collateral accounts manually or via Automatic Transfer Mode. Users with outstanding liabilities in these pairs may only transfer assets equivalent to their liabilities into their Isolated Collateral accounts and deduct existing collateral. January 9, 2025, 09:00: Borrowing for affected Isolated Collateral pairs will be suspended. January 16, 2025, 09:00: Binance will automatically close all open positions, close liabilities, and cancel pending orders for the affected pairs. The pairs will then be removed from Binance Margin. Alternative Trading Options Users can continue trading the affected assets on other available trading pairs on Binance Margin. Users are advised to manually close their positions and transfer assets from Margin Accounts to Spot Accounts before 09:00 on January 16, 2025 to avoid automatic settlements and potential losses. Binance will not be responsible for any losses incurred during the delisting process. For more details, users can refer to Binance's official channels. *This is not investment advice. Continue Reading: Bitcoin Exchange Binance Announces Delisting of Numerous Altcoin Trading Pairs from Its Futures Platform!
Bitcoin fails to rebound after a $5,000 drop in a single day, with a BTC price retest of $88,000 now "highly probable."
The post Ethereum Price Prediction Today: Bears Target $2400 After 9% Dip appeared first on Coinpedia Fintech News Ethereum’s price is currently moving within a key price channel, maintaining a bullish trend as it holds above an important support zone. However, at the time of writing, Ethereum has declined by more than 9% and is now trading below $3,350. Ethereum’s 1-month high is at $4,098.29, while the 1-month low is $3,103.37, showing the current range within which Ethereum has been trading. According to experts, a break below $3,540 could signal the end of the bullish momentum and favor a bearish scenario. In this case, Ethereum could experience a correction, with support levels between $2,400 and $3,160. If these levels hold, Ethereum may be able to recover and move higher. If the price continues to rise from here, the bullish Scenario would gain strength, and Ethereum could potentially reach $4,000 or more. A Look At The Technicals: Currently, the price action is stuck near the 3-standard deviation resistance at $3,620.49, which indicates a significant barrier to further upward momentum. Additionally, the 3-10-16 day MACD moving average has stalled around $3,613.10, signaling potential indecision in the market. Analyst Weighs In Analyst Josh of Crypto World said that Ethereum is currently forming a potential bullish pattern called an inverse Head and Shoulders on the weekly chart. However, this pattern is not yet confirmed. To confirm it, Ethereum needs to break above the $4,000 to $4,100 level with a weekly close. If that happens, it could set a price target near $7,000, offering a major trading opportunity. Right now, Ethereum is trading in a range. The resistance is between $3,900 and $4,100. For the short-term trend, the analyst said that Ethereum appears more bullish than bearish as it is making higher lows and higher highs, and has recently broken above a key resistance level.
The crypto market experienced a major sell-off on January 7 amid rough economic data. The price of Bitcoin dropped drastically after topping $100K the day prior. The dip also affected major cryptocurrencies and caused over $150 million in liquidations. As of the time of publication, Bitcoin’s price dropped by more than 4% in the last 24 hours and hovers around $97,000. Ethereum also experienced an 8% dip in the last 24-hour period, while Solana dropped by more than 7% and XRP dropped by around 5%. Among the top digital assets, Avalanche (AVAX), Dogecoin (DOGE), and Chainlink (LINK) plummeted more than 9% each. Crypto market correction leads to major liquidations Crypto Market Suffers Biggest Drop In A Month The crypto market experienced its largest sell-off in nearly a month today. Bitcoin dropped over 5%, Ethereum fell around 8%, and Solana and XRP also saw declines. The total market cap decreased by 7.6% to $3.6 trillion, with $507… pic.twitter.com/f8nXKWbDat — The Wolf Of All Streets (@scottmelker) January 8, 2025 The crypto market correction led to major liquidations, as data from CoinGlass showed that $388 million worth of long and short positions were nuked over the last 24 hours. The data also revealed that $230 million worth of liquidations came in the last four hours alone, with long positions making up the vast majority of the liquidations at $212 million. The data indicated that the figure was lower than the single largest 24-hour or hourly liquidation seen in the last month, which was around $856.7 million. The figures also revealed that more than 129,900 cryptocurrency traders were liquidated over the past 24 hours. The CoinGlass data highlighted that the largest single liquidation order was an ETHUSDT position on Binance, valued at more than $11.9 million. Crypto stocks MicroStrategy and Coinbase also dropped by more than 9% and 8%, respectively, while Bitcoin miners Core Scientific and MARA Holdings fell more than 6% and 7%, respectively. U.S. job openings data causes share drop in crypto prices “TLDR on why the market is dipping: US data came in hot, causing a bond yield spike. ISM index higher than expected, JOLTS job openings increased. We’re in the “good data is bad data” phase of the market for risk assets ahead of FOMC in 2 weeks.” ~ Miles Deutscher , Crypto analyst. The Bureau of Labor Statistics released new data on Tuesday showing 8.1 million job openings at the end of November, the highest level since May 2023 and an increase from the 7.84 million released in October. Data from the Job Openings and Labor Turnover Survey (JOLTS) also revealed 5.27 million hires were made during the month, down from the 5.39 million made during October. Tuesday’s report also disclosed that the quitting rate, a sign of confidence among workers, dropped to 1.9% from 2.1% in October. The hiring rate also dropped to 3.3% from the 3.4% seen in October. Consensus Cloud Solutions also revealed that it expects the U.S. economy to add 163,000 jobs, down from the 227,000 additions seen in November. Fed Chair Jerome Powell described the signs of slowing in the labor market as “loser than pre-pandemi,” as the quitting and hiring rates fell lower than before the pandemic. The drop in crypto prices also came amid a sudden increase in the 10-year U.S. Treasury yield, which climbed six basis points to 4.69%. Data released by the Institute for Supply Management indicated faster-than-expected growth in the U.S. service sector in December, which added to concerns about stickier inflation. Bank of Corp. strategists also predicted that traders could return to perceiving strong economic data as negative because it signaled that the Fed will need to keep rates elevated for longer. The central bank signaled last month that although it was cutting rates a third time, it may make fewer rate cuts in 2025 than investors had anticipated. Rate cuts have historically had a positive effect on Bitcoin, while hikes have had a negative impact. Thomas Tzitzouris at Strategas disclosed that this is bad news, and it is not just for Treasuries. With corporates trading at their tightest levels of the cycle adjusted for default risk, we’re entering a “danger zone” for both risk assets and safe havens. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Binance, the world's largest cryptocurrency exchange, has announced plans to delist several spot trading pairs as part of its routine market review process. Binance to Delisting Select Spot Trading Pairs on January 10, 2025 In a statement made by the exchange, it was stated that this move aims to protect users and maintain a high-quality trading environment. Effective January 10, 2025, 06:00, Binance will remove and suspend trading of the following pairs: AXL/FDUSD C98/BTC ENJ/ETH Reason for Removal from List The decision to delist these pairs comes after Binance periodically reviews its trading pairs, taking into account factors such as liquidity and trading volume. “This ensures a sustainable and efficient trading experience for our users while maintaining a robust and high-quality market environment,” Binance said. The delisting only applies to the specific trading pairs listed and does not impact the availability of the underlying tokens on the Binance platform. Users will still be able to trade the base and quote assets of these pairs via other available trading pairs on Binance Spot. Binance will also terminate Spot Trading Bot services for the affected pairs at the same time. Users are advised to update or cancel their Spot Trading Bots before the deadline to avoid any possible losses. *This is not investment advice. Continue Reading: Bitcoin Exchange Binance Announces Delisting Three Altcoin Trading Pairs from Spot Trading! Here Are the Details
The post Experts Predict Solana, FXGuys, and XRP Could Turn $100 Into $10,000 by Mid-2025 appeared first on Coinpedia Fintech News Solana (SOL) could be on its way to its ATH and even further, and Ripple (XRP) investors are off to a confident start in 2025. There’s a lot of support from experts for both top altcoins, but a third token is getting the more popular backing. FXGuys ($FXG) is a new crypto project that intends to raise the bar on trader welfare and newfound profits in the market. Think of it as a DeFi token sporting the bullish potential of a meme. Here is more on SOL, XRP, and $FXG and if they can turn $100 into $10,000. >>>JOIN FXGUYS HERE Solana Prediction: SOL Price Set to Hit $260 Solana is one of the more vibrant networks in the crypto-verse, and last year was proof. While its SOL token didn’t have much going for it in terms of development, the meme coin frenzy that started with BONK and WIF sparked quite the run for the top DeFi token . And no, SOL might not be able to turn $100 into $10,000, but its price movements are promising, and investors are anticipating an uptrend. Currently, several analysts are backing SOL for a surge close to its ATH. The trend features a reversal from its descending channel, one that would see the already bullish Solana price hit $260 from its current $207. With SOL so close to its ATH at $263, the next stage from there is price discovery. SOL might not be able to turn $100 into $10,000, but FXGuys has the potential. FXGuys: Proprietary Trading to Propel New Crypto $FXG traders are about to become the biggest winners in the market, and the reason is not far-fetched. FXGuys is fronting a new development in crypto trading–proprietary trading. Proprietary trading is a concept where traders get to access capital funding to maximize their trading potential. In other words, FX Guys will be giving its traders capital funding so that they make more profits than they would have with their limited portfolios. The traders only have to buy trading challenges on the platform (the packages run from $25 to about $1100) and pass the objectives on the challenges to qualify for capital funding. The capital ranges from $2,500 to about $100,000, and traders get to keep 80% of their trading profits, while investors get the remaining 20%. Traders can access a range of trading instruments, as the FX Guys platform features the most diverse range of trading instruments\. About 120,000 trading instruments are available from the stock, Forex, crypto, and tokenized assets markets, giving any trader quite the list to choose from for their portfolios. With a portfolio that diverse, trading risks are at the barest minimum. The FXGuys project promises a paradise for crypto traders, and it’s no wonder that most of them are investing in $FXG tokens from the presale. You should be too, trader or not. Ripple (XRP) Could Be In for a Meteoric 2025 Ripple has had four difficult years so far, as its drawn-out lawsuit with the SEC saw the project stagnate significantly. Donald Trump’s administration promises a conducive regulatory environment for the crypto-verse, and tokens like Ripple’s XRP might be seeing some relief after all. XRP is preparing for better times ahead, too, as the on-chain metrics have improved greatly. Open Interest and Relative Strength Index are showing strong investor interest, with an 80% spike on the card. The most recent forecast saw XRP go 80% up if the token got past its $2.34 resistance. Ripple’s XRP is currently trading at $2.4 , 11.07% up on the weekly timeframe, and raring to rise rapidly. >>>JOIN FXGUYS HERE $FXG Is the Best Bet to Turn $100 Into $10,000! After the dismal performances of many top altcoins like Solana and XRP. However, the SOL token has started the new year with an impressive momentum. Ripple’s XRP token is also getting positive shouts, especially following the change in government in the US. Both top altcoins and the new $FXG DeFi token have been predicted to turn $100 into $10,000 by mid-year. Meanwhile, $FXG is offering 150% in its presale to start off in the short term. The presale gains the short-term potential on SOL and XRP, and investors have now invested more than $3.3 million in the new crypto’s ongoing presale. New investors can get $FXG tokens now in Stage 2 at $0.04 and anticipate the launch date when the price goes up to $0.10. Join the bullish movement and lock in potential gains to turn $100 into $10,000. To find out more about FXGuys follow the links below: Presale | Website | Whitepaper | Socials | Audit