Bitcoin price struggles below $64,000 amid investor concerns. US GDP growth and inflation trends impact crypto predictions. Continue Reading: Insights on Cryptocurrency Trends and Economic Indicators
Litecoin (LTC) defied the overall sluggishness of Proof-of-Work (PoW) coins this week, climbing 4% to a two-week high of $86 on April 26. This surge has rattled short sellers and ignited a potential short squeeze, with analysts predicting a bullish run towards the $100 mark. Related Reading: Is SUI Sinking? TVL Tanks As Crypto Price Fails To Keep Afloat Litecoin Bulls Flex Their Muscle While other cryptocurrencies have struggled to gain momentum this week, Litecoin bulls have managed to push slightly ahead. This unexpected rally has added a significant $190 million to Litecoin’s market capitalization, showcasing a renewed investor interest in the digital silver. Market watchers attribute the surge to a confluence of factors. Firstly, a significant number of traders are betting big on Litecoin’s continued rise, evident in the overwhelming leverage applied in the derivatives market. Data from Coinglass reveals a bullish sentiment, with the value of long leveraged positions exceeding shorts by a notable margin. This optimistic outlook places immense pressure on short sellers, who stand to incur heavy losses if the price keeps climbing. Source: Coinglass Short Squeeze Looms As Price Eyes $100 The current price action suggests that a short squeeze might be brewing. Short sellers borrow LTC tokens, sell them at a higher price in anticipation of buying them back later at a lower price to pocket the difference. However, if the price goes up instead of down, they are forced to buy back LTC at a loss to cover their positions. This buying activity to mitigate losses further pushes the price up, creating a snowball effect. LTC is currently trading at $84.42. Chart: TradingView Analysts estimate that a mere 10% price increase, propelling LTC to $96, could trigger liquidations worth $16 million for short sellers. Conversely, bullish traders have amassed leveraged long positions exceeding $16 million around the current price point. This leverage disparity empowers the bulls to potentially drive the price towards the coveted $100 milestone in the coming days. Related Reading: The Machines Know: Bitcoin Primed For Epic Price Surge To $77,000 Volatility Ahead: A Word Of Caution While the short-term outlook for Litecoin appears optimistic, experts advise caution. The current rally seems primarily driven by speculation and leveraged trading, not necessarily by fundamental advancements within the Litecoin ecosystem. This dependence on market sentiment makes the price susceptible to swings. If the bullish momentum fizzles out, a price correction could trigger significant liquidations of overleveraged long positions, causing a reversal. The coming days will be crucial in determining whether the bulls can maintain control and propel LTC to $100, or if the bears regroup and trigger a reversal of fortunes. Featured image from Pexels, chart from TradingView
Paradigm Capital transferred 3,718 ETH to Anchorage Digital in the early hours of Sunday, April 28. The recent transaction marked Paeradigm’s first ETH transfer in the past three months. Ethereum claimed the largest share of Paradigm’s investment portfolio, with a balance of 83,518 ETH. Paradigm Capital, an employee-owned independent investment dealer, transferred 3,718 ETH to The post Paradigm Capital Moves 3,718 ETH to Anchorage Digital as ETH Rallies appeared first on Coin Edition .
The crypto market ended the week with various notable headlines, with Binance, Shiba Inu (SHIB), and Ripple (XRP) dominating trends over the last seven days. Binance founder faces a 36-month jail term New legal updates reveal former Binance CEO and founder Changpeng Zhao awaits sentencing for violating the United States’ money-laundering regulations. US prosecutors asked for a
How software company's investment strategy has proved right
In their revolutionary study, researchers at the Massachusetts Institute of Technology (MIT) are actually training AI systems to mock and express hatred by using AI as a tool. The objective here is to create a sound plan for both detecting and curbing toxic content in media. This technology should be called CRT for short-term purposes.
Bitcoin price stands at $63,600 as of this writing. Major events in May could increase cryptocurrency volatility. Continue Reading: Key Price Predictions for Solana and Avalanche in May
As new Runes tokens dominated crypto, a proactive suit from Consensys against the SEC fostered a wartime mood among industry leaders.
Liquidity deposited to LSD protocols on the chain increased, but there is a drawback.
Ready To Fight (RTF) is the world’s first blockchain-based boxing ecosystem. It was co-founded by the world heavyweight boxing champion, Oleksandr Usyk, and his team director, Sergey Lapin, In an The post An Interview With Ready To Fight appeared first on BitcoinWorld .