The crypto market is waiting for the US Consumer Price Index (CPI) data, which is scheduled to be released later this week. The data, crucial to understanding the inflationary pressure in the economy, would be closely watched by investors, especially after the gloomy US Job data weighed on market sentiment. The stronger-than-anticipated nonfarm payroll data The post US CPI In Focus After Jobs Data Dampens 50 BPS Fed Rate Cut Hopes appeared first on CoinGape .
David Carmona, founder of the Icomtech cryptocurrency Ponzi scheme, has been sentenced to over 10 years in prison for defrauding investors with false promises of profits. His scheme targeted working-class people with the lure of financial freedom through cryptocurrency trading and mining, none of which actually took place. Lavish expos were held to entice more
Qubetics achieves a $1M milestone in its presale, signalling strong investor interest. Meanwhile, Zebec Protocol's market growth and Donald Trump's World Liberty Financial crypto project also capture headlines. The post Qubetics Hits 1M Dollar In Presale, While Zebec Protocol Grows In Market & Trump’s Crypto Platform Gaining Attention appeared first on TheCoinrise.com .
Explore how Qubetics’ decentralised VPN enhances security and privacy, Aptos aims for price growth, and Immutable X leads in NFT gaming.
Coinbase writes a letter to the Southern District of New York asking the court to reconsider its appeal.
When Open Interest increases alongside the price, it shows that more money is flowing into TAO.
In contrast to popular bullish sentiments, Bitcoin began October on a bearish note, recording a price decline of over 7% in the first three days of the month. However, while the BTC market experienced an uptick on Friday as data from the US Labor Department indicated incoming rate cuts, investors have generally retained a cautionary approach. Related Reading: Analyst Says Bitcoin Crash Might Not Be Over, Why $60,365 Is Important Bitcoin Fear And Greed Index Touches 37 As Investors Become Uncertain In a Quicktake post on CryptoQuant, an analyst with username maartunn shared that the Bitcoin Fear and Greed Index currently signals fear following the asset’s recent price slump The Fear and Greed Index generally measures the emotions, moods, and behaviors of the crypto market as well as predicts potential trends based on investor sentiment. The index operates on a 0-100 scale, where values above 50 indicate greed, with anything over 74 representing extreme greed, while values below 50 signal fear, and under 24, extreme fear. According to maartunn, the Fear and Greed Index is presently at 37, indicating that many investors are cautious about adding the leading cryptocurrency to their portfolio. In particular, the analyst notes that each time the Fear and Greed Index reached the fear level since 2023, Bitcoin’s price has formed a bottom, i.e. reached the lowest point during a price decline, and is set for price reversal. Notably, Bitcoin already showed an upward movement on Friday after starting October with a price decline. However, it cannot be said that the price bottom has now occurred as Bitcoin’s daily chart shows the asset is still far above its next significant support level following months of consolidation between $55,000 – 70,000. Although, if the premier cryptocurrency has bottomed out, it could be heading for a price breakout in line with popular expectations for a bullish “uptober”. For context, October has proven to be the most frequent bullish month for Bitcoin resulting in an average gain of 22.90% in the last 11 years. Related Reading: Bitcoin Price Dip Explained: Key Causes And Where To Expect A Bounce Back To $70,000 Dominant Activity Of Stablecoins Supports Fear And Uncertainty Among Investors In addition to the Bitcoin Fear and Greed Index of 37, the crypto market has also experienced an increase in market activity of stablecoins namely the Tether USD (USDT) and USD Coin (USDC). This development indicates that investors are opting for less volatile assets than risky coins such as Bitcoin, which is often due to uncertainty and fear of impending price crash. CryptoQuant analyst BaroVirtual has attributed this fear to several factors including weak retail market participation, rising geopolitical tensions in the Middle East, as well as the SEC’s hesitation to launch a Spot Ethereum ETF Options. At the time of writing, Bitcoin continues to exchange hands at 62,071 following a 2.17% gain in the last day. Meanwhile, the token’s daily trading volume is down 17.91% and valued at $29.71 billion. Featured image from The Motley Fool, chart from Tradingview
Paypal has made a significant step in corporate payments by completing its first transaction using its stablecoin Paypal USD (PYUSD). This milestone highlights the role digital currencies can play in streamlining cross-border transactions, with Paypal partnering with Ernst & Young LLP. Paypal Completes First PYUSD Stablecoin Business Transaction Paypal Holdings Inc. has completed its first
Dumb Kamala could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did. Dumb Kamala (DUMBKAMA), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days. This is because DUMBKAMA is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings. Currently, Dumb Kamala can only be purchased
Bitcoin, which started the month on a negative note, has begun to regain some positive momentum and is up by 1.66% in the past 24 hours. This recovery comes amid renewed optimism in the crypto space, as traders and investors remain hopeful for a solid finish to the year. In a recent post on social media platform X, popular crypto analyst Inmortal revealed Bitcoin is still on its way to creating a new all-time high very soon. The only thing the bulls need to do is to ensure a break above the $64,000 price tag. Related Reading: Market Signals Hint At Bitcoin’s Potential Fall To $52,000—Analyst Bitcoin New All-Time High Coming Soon? The general consensus is that Bitcoin is going bullish in October, although different analysts have varying outlooks as to how this will happen. Taking to his social media account, Inmortal noted that the only prerequisite for a new Bitcoin all-time high is for the price to break above $64,000. According to an accompanying Bitcoin/TetherUS chart, this price level is situated just above the October monthly open. This means a sustained break above $64,000 would nonetheless translate to a green monthly close in October. Breakout above 64k = New ATH$BTC pic.twitter.com/mUvDN5sTyi — Inmortal (@inmortalcrypto) October 4, 2024 Interestingly, Inmortal had noted in an earlier X post that Bitcoin’s drop from $66,000 on September to $60,000 on October 2nd feels like the flagship digital asset has reached a local bottom. This is because Bitcoin seemed to retest this level three times before eventually rebounding upwards. However, he did clarify that this is only based on a hunch because there is no market structure break or confirmation yet. Interestingly, this local bottom sentiment is supported by analysis from a CryptoQuant analyst known as “caueconomy.” Inmortal further emphasized that he is currently only interested in taking long positions on Bitcoin, and he has identified two specific entry points for these trades. The first opportunity would arise if Bitcoin retests the $60,000 low, providing a potential buying window at a key support level. The second entry point, according to his analysis, would be triggered by a breakout above the $63,000 price level. What’s Next For Bitcoin? At the time of writing, Bitcoin is trading at $62,200 and has already gained 3.5% from the October 3 low. However, the flagship cryptocurrency is still down by 5.7% in seven days and there remains the possibility of a break to the downside in the short term. Related Reading: Injective (INJ) Down 20% As Market Retracement Forces Sell-Off Another popular crypto analyst known pseudonymously as Kaleo suggests that there may be another retest of lower levels before Bitcoin resumes its upward trajectory. Specifically, he anticipates that Bitcoin could dip to around the $57,000 to $58,000 range, testing support in that area before ultimately reversing course and going higher for the rest of the month of October and after the US election in early November. Featured image from CNBC, chart from TradingView