Cryptocurrency analytics firm Alphractal has released a new market update, highlighting notable trends in the Bitcoin and altcoin markets while also shedding light on potential volatility ahead. Alphractal noted that cryptocurrency mining stocks, which have historically shown a strong correlation with the price of Bitcoin, have experienced a recent short-term decline. However, the firm highlighted an interesting dynamic: Correlation Shift: When the typically strong correlation between Bitcoin and mining stocks weakens, this has historically preceded significant swings in Bitcoin price. Market Influence: Mining companies, which often hold significant Bitcoin reserves, act as influential market players. Deviations from Bitcoin’s price movements can signal market disruptions or trend reversals. Chart showing the correlation value between BTC price and the total market capitalization of cryptocurrency mining companies. Related News: Institutional Giant Whale Bulks Up On This Altcoin As The Price Plummets The report also shed light on the broader altcoin market, hinting at bearish conditions: Moving Averages: Around 80% of altcoins are trading below their 50-day moving averages, suggesting weakening momentum. Bollinger Bands: A significant portion of altcoins are trading below the lower Bollinger Bands on the daily charts, indicating potential oversold conditions. *This is not investment advice. Continue Reading: Attention Analysis Company Announced! “If This Metric Fluctuates, Bitcoin Volatility Will Increase A Lot”
The post Fantom Price Maintains $0.70 Support, Eyes To Hit $1 This Month? appeared first on Coinpedia Fintech News The Fantom price has dropped by 12.86% in the last 11 days, highlighting increased selling pressure for the altcoin in the crypto market. However, the bulls maintained the value above the $0.70 mark. This resulted in the altcoin experiencing a positive bounceback. Will the crypto bulls maintain their optimistic sentiments, to help the FTM crypto price reclaim its $1 mark this month? In this article, we have covered the short-term market sentiment, price analysis, and possible short-term price targets of the Fantom (FTM) crypto token. FTM Price Records Bullish Reversal! The Fantom price has jumped over 3% in 24 hours with a trading volume of $228.57 million, a change of +4.89%. Notably, this altcoin has displayed a significant price action over the past few days, highlighting increased price action. TradingView: FTM/USDT The Simple Moving Average (SMA) constantly acts as a resistance to the FTM price chart in the daily time frame. This suggests an increase in the selling-over-buying pressure in the crypto market. On the other hand, the MACD indicator shows a constant decline in the red histogram. Further, its averages hint at a potential bullish convergence. This highlights a mixed price sentiment for the altcoin during the upcoming week. Will FTM Price Hit $1? If the bullish sentiment sustains, the Fantom coin price could retest its resistance level of $0.80. Maintaining the price above that level could set the stage for this altcoin to head toward its target price of $1 this month. On the contrary, if the bears regain momentum, the FTM crypto price could record a bearish reversal. This could result in the price of Fantom plunging toward its crucial support trendline of $0.60. To find out answers to questions like “Can FTM reach $50?” Read CoinPedia’s Fantom Price Prediction to uncover the potential mysteries until 2030! FAQs Will FTM reach $3? The Fantom price could achieve this price tag by the year 2026 if the bullish sentiment sustains. How much is Fantom today? With a 24-hour trading volume of $232.52 million, the FTM token is currently trading at $0.7012. Is FTM coin a good investment? With an ATH of $3.48, this altcoin is highly undervalued as of now. This potentially makes this a good investment for the long-term prospects.
Spot Bitcoin ETFs, a year after their approval, remain the talking point of the town. However, the outflow recorded on the last day of this week is causing worry. That marked the second outflow day with BlackRock’s IBIT leading the pack with a massive amount of outbound movement. US Bitcoin ETF Records Outflow This week ends with an outflow from US Bitcoin ETF according to a report by Farside Investors . The total outward movement stands at $149.4 million with BlackRock’s IBIT leading the pack. The issuer of the US Crypto ETF noted $183.6 million worth of outflows to its name followed by Bitwise’s BITB at $1.6 million. Several issuers didn’t report their numbers but others did show positive sentiments. This includes Fidelity’s FBTC, Ark’s ARKB, and Grayscale’s GBTC. Their flows were $16.6 million, $5.7 million, and $13.5 million, applicable in the same order. It remains to be seen if interest in Spot Bitcoin ETFs will change in the coming days, or maintain a similar momentum till Donald Trump takes the US Presidential office. Effect on BTC Price The significant outflows from the US Bitcoin ETF have had little impact on the BTC price today . The flagship cryptocurrency has been down slightly by 0.18% in the last 24 hours but has traded in green for most of the hours. The price has also been down by 4.03% and 6.40% in the last 7 days and 1 month, respectively, potentially demonstrating a correction after it achieved the milestone of $100,000. The market cap of Bitcoin tokens has plunged by 0.26% and the 24-hour trading volume has taken a hit of 10.13%. Open Interest is down by 0.95% amid the volatility of approximately 3.62%. A few factors show that the BTC rally will eventually get back to mark upticks. Dips in the prices of Bitcoin tokens are being looked at as a chance to accumulate more BTC at a discounted price. Another factor includes the nomination of Paul Atkins as the SEC Chair to replace Gary Gensler who is preparing to step down when Donald Trump assumes the office. Besides, the latest US job data also appears to have encouraged investments which would fuel a rally for Bitcoin and altcoins in the coming days. What’s still a concern is the size of the rate cut which is anticipated to be 25 bps in the next FOMC. What’s Happening to Spot Ether ETF? Amid the Bitcoin ETF outflux, it is worth noting that the sentiment of outward movement is mutually shared with Spot Ether ETF except, it’s Fidelity’s FBTC leading the chart. The issuer recorded an outflow worth $65.4 million on January 10, 2025, as no data from BlackRock made its way to the surface. The only other issuer that reported its number was Bitwise’s ETHW which was $3.1 million. Total outflows stood at $68.5 million taking the historical cumulative inflow to $2,456.3 million. Spot Ether ETFs, too, marked the second day of outflows after January 08, 2025, when the negative flow was $159.4 million. The post US Bitcoin ETF Ends Week With $149.4M Outflow, Will It Impact BTC Rally? appeared first on CoinGape .
Spot Bitcoin ETFs celebrated their first anniversary with remarkable achievements. BlackRock's IBIT leads in asset value, significantly surpassing competitors. Continue Reading: Bitcoin ETFs Surpass Milestones and Capture Market Attention The post Bitcoin ETFs Surpass Milestones and Capture Market Attention appeared first on COINTURK NEWS .
The post North Dakota Considers Adding Crypto to State Treasury, Will It Be Bitcoin? appeared first on Coinpedia Fintech News North Dakota has joined the growing list of U.S. states exploring cryptocurrency as a part of its financial strategy, following other state Bitcoin proposals . Lawmakers recently introduced a resolution aimed at including digital assets and precious metals in the state treasury to protect against inflation and economic uncertainties. Proposal to Diversify State Investments On January 7, North Dakota legislators presented House Concurrent Resolution (HCR) 3001. The resolution suggests that the State Treasurer and Investment Board invest in digital assets and precious metals to safeguard key funds, including the state general fund budget stabilization fund, and legacy fund. This step is seen as a way to strengthen the state’s financial future and mitigate risks posed by inflation. However, the proposal, sponsored by six Representatives and two Senators, focuses on creating a more diversified and strong treasury. While the resolution does not require immediate action, it shows a growing interest among lawmakers in adopting innovative financial tools. Transparency and Broader Trends To ensure transparency, the resolution calls for copies to be sent to the State Treasurer and Investment Board members. Interestingly, the proposal does not directly name Bitcoin, following a trend where state legislation uses “tech-neutral” language. For example, in New Hampshire, a bill introduced on January 9 advocates for digital asset investments, specifically allowing only cryptocurrencies with a market cap exceeding $500 billion. This criterion effectively makes Bitcoin the primary candidate. Other States Embracing Crypto Too North Dakota isn’t alone in this push. States like Pennsylvania, Texas, Alabama, and Florida have recently explored creating Bitcoin strategic reserves. These efforts reflect the growing acceptance of Bitcoin’s potential as a hedge against inflation and a store of value. With support from organizations like the Satoshi Action Fund, states are exploring digital assets to enhance financial stability. If North Dakota moves forward with this proposal, it could set an example for other states, demonstrating how digital assets can play a role in strengthening public finances while addressing economic challenges.
A recent raid on a Bitcoin mining operation in Thailand highlights significant concerns over energy theft and its impact on local power infrastructure. This incident underscores the pressing need for
A New York Fed researcher has raised an alarm over the sharp rise in credit card loan defaulters this year. They cautioned that the strain of Americans’ record-high consumer debt could soon reach a breaking point. The Financial Times reviewed data from BankRegData and revealed that lenders wrote off over $46 billion in seriously delinquent credit card loans during the first nine months of 2024. The figure represented a 50% surge compared to the same period in 2023 and was the highest level of credit card loan write-offs since 2010. Growing concerns over debt delinquencies BREAKING: US credit card defaults jumped to $46 billion in the first 9 months of 2024, the highest since 2010. Credit card defaults are now up over 50% year-over-year. Defaults of seriously delinquent credit card loan balances have more than doubled over the last 2 years.… pic.twitter.com/xHiHGuRDV0 — The Kobeissi Letter (@KobeissiLetter) December 30, 2024 Data from the New York Federal Reserve revealed in November 2024 that American credit card debt hit a record high in September, reaching $1.17 trillion in the third quarter. The Fed data showed that the rise in credit card debt marked the highest level on record, dating back to 2003. The report also highlighted that total household debt rose to a new high of $17.94 trillion, auto loans ($1.64 trillion), mortgage balances ($12.59 trillion), and student loan balances ($1.61 trillion). New York Fed researchers discussed the growth in debt balances in a call discussing the released report. They cited the persistent and “concerning” growth in auto loan and credit card delinquencies. They mentioned that stress and high delinquency rates were concentrated among young borrowers. The Fed researchers also argued that the rise in payments consumers made on credit cards and auto loans was attributed partly to inflation and higher interest rates. In a separate report, the Fed also mentioned that supervisors remained focused on credit risk management practices at large firms, particularly with respect to credit card and CRE lending. The report highlighted that supervisors assessed how firms actively managed the risk in their loan portfolios and the adequacy of credit loss reserves. A newly released Q3 2024 Quarterly Credit Industry Insights Report (CIIR) from Transunion pointed out a level of stabilization in the consumer credit market. The report highlighted that credit card and unsecured personal loan balances showed slowed growth rates compared to the year before. Both credit card products saw year-over-year (YoY) growth of approximately 15% in the year ending Q3 2023, and YoY balanced growth for the year ending Q3 2024 was only 6.9% for credit cards and 3.6% for unsecured personal loans, as per the report. Michele Raneri of Transunion believes that the moderate growth in credit card balances is likely the result of tightened underwriting standards, which may have made lending to borrowers less likely to grow balances quickly. “In addition, as inflation has returned to more normal levels in recent months, it has also meant consumers may be less likely to rely on these credit products to make ends meet,” said Michele Raneri, Vice President of the U.S. Research and Consulting at TransUnion. Fed’s Supervision report takes note of rising card delinquencies Data from the PYMNTS’s New Reality Check: The Paycheck-To-Paycheck report revealed the surge in household card delinquencies. Some households realized an increase in their outstanding credit balances, while others saw their balances remain constant. The report detailed that 25% of households said their outstanding balance increased over the last year, while 55% said it remained the same. Of the consumers surveyed, only 21% said the balances had decreased. PYMNTS also highlighted that 34% of cardholders living paycheck to paycheck with issues paying bills had their outstanding balances increased. And 30% of those paycheck-to-paycheck cardholders who had no difficulties paying bills said the same. The report also detailed that 41% of financially struggling cardholders “often or always” reach their card spending limits and are more than six times as likely as financially stable consumers to do so. According to the data, only 6.3% of those not living paycheck to paycheck regularly hit their spending limit. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Hedera (HBAR) continues to grapple with market uncertainties, exacerbated by weak momentum indicators and investor hesitation. The altcoin’s price remains trapped between crucial support and resistance levels, prompting a cautious
The chief investment officer (CIO) of Bitwise Asset Management Matt Hougan is highlighting one catalyst that could have a massive impact on the price of Bitcoin ( BTC ). In an interview on the Mr. M Podcast, Hougan says that the price of Bitcoin could rise exponentially if the crypto king is adopted as a reserve asset by various countries across the globe. “There’s this question of whether we will see governments around the world starting to add Bitcoin to their own balance sheets. I would say that that possibility is not priced into the market at all. Like zero. If that becomes a reality, I think you’re talking about Bitcoin being many hundreds of thousands of dollars. There’s just not enough Bitcoin in the world to support, to facilitate that kind of demand without prices going substantially higher. So I think this is a real sea change. I think investors have underestimated it. I think it’s going to have a long-tail effect. It will extend the bull market substantially in 2025 and potentially beyond.” According to Hougan, the number of new Bitcoin expected to be mined in 2025 will be inadequate to meet the demand that he expects to come online. “The Bitcoin Network is going to produce about 160,000, 170,000 Bitcoin [in 2025]. Corporations bought 270,000 [BTC] last year, and exchange-traded funds (ETFs) bought 400,000 – 500,000 [BTC]. Governments are talking about buying hundreds of thousands. Any one of these sources is more than all the net new Bitcoin that comes out of the market. And that means, just from a simple perspective, that in order to satisfy that demand, which I think is unstoppable, I think you’re going to see all three sources buy hundreds of thousands of Bitcoin. People who hold Bitcoin today have to sell. Maybe they’re willing to sell at $100,000. But if they’re not, what is the next level at which enough of them will sell? Is it $125,000? Is it $150,000? Is it $200,000? I think the market could sort of find itself in an air gap where people are unwilling to sell until it gets to a new major level. And that move could be very violent.” Bitcoin is trading at $94,744 at time of writing. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post This Catalyst Could Trigger ‘Violent’ Bitcoin Surge to Hundreds of Thousands of Dollars: Bitwise CIO Matt Hougan appeared first on The Daily Hodl .
A Bitcoin mining operation in Thailand was raided for large-scale electricity theft, highlighting energy concerns.