As crypto evolves, select digital currencies show promise for explosive 2024 growth, drawing keen investor interest. #partnercontent
As crypto evolves, select digital currencies show promise for explosive 2024 growth, drawing keen investor interest. #partnercontent
Pepe whales continue accumulating as a new wallet scoops up 309. 6 billion tokens worth $6.45 million.
The price of Bitcoin picked up this week from where it left off in the previous week, forging successive all-time highs in the past seven-day span. Over the last few days, the big question on everyone’s mind has been — when will the premier cryptocurrency surpass the $100,000 level? While most investors are worried about a short-term target, some market participants are more concerned about the long-term prospects of the world’s largest cryptocurrency. According to the latest on-chain data, it appears that the price of Bitcoin could see a shakeout sooner than expected. Will The Rising Bullish Sentiment Sustain The Rally? According to market intelligence platform IntoTheBlock, the Bitcoin funding rates have witnessed a notable upswing in recent days. The relevant indicator here is the “funding rate” metric, which tracks the periodic fee exchanged between traders in the derivatives (perpetual futures) market. Related Reading: Cardano Gains Steam: ADA Sights More Growth After Breaking $0.8119 When the funding rate is high or positive, it implies that the long traders are paying traders with short positions. Typically, this direction of the periodic payment suggests a strong bullish sentiment in the market. On the other hand, a negative value of the funding rate metric means that investors with short positions are paying traders with buy positions in the derivatives market. This trend suggests that the market is shrouded by a bearish sentiment. Data from IntoTheBlock shows that the Bitcoin funding fees for perpetual swaps have increased by more than 10% — and up to 20% on major trading platforms. However, the on-chain firm noted that this continuous funding rate growth could hint at speculative overheating, potentially resulting in market corrections. According to IntoTheBlock, one of the possible catalysts of this bullish sentiment is the United States government’s approach to crypto under Donald Trump. With the “strategic Bitcoin reserves” more of a possibility under the incoming US president, investors are banking on Bitcoin surpassing a six-figure valuation. As of this writing, the flagship cryptocurrency is valued at around $98,400, reflecting a 1% increase in the past 24 hours. Bitcoin Perpetual Futures Market Remains Restrained — What It Means In a recent post on the X platform, Glassnode revealed that the Bitcoin perpetual futures market “remains restrained.” This suggests that several traders are still approaching the market with caution despite the steady price climb of BTC in recent weeks. Related Reading: Dogecoin Price Set To Skyrocket By Saturday, Warns Crypto Analyst Data from Glassnode shows that the Bitcoin funding rates are just above 0.01%, which falls short of the March 2024 level (~0.07%) when the BTC price reached a local top. Ultimately, this suggests that there is still room for growth in the value of the premier cryptocurrency. Featured image from iStock, chart from TradingView
Bitcoin (BTC) continued to make headlines Saturday as it approached the highly anticipated $100,000 milestone.
Polkadot (DOT) has seen an extraordinary rally, surging over 100% in the past month. The cryptocurrency has broken out of a prolonged downtrend channel, marking a reversal in its price trajectory. Following this breakout, DOT reclaimed the $8 level, a resistance-turned-support zone from previous cycles. Analysts suggest that this level is crucial for the continuation The post Will Polkadot Price Continue To Rally Following 100% Surge? appeared first on CoinGape .
Dogecoin rose today, hitting a new yearly high of nearly $0.48, as fresh speculation over Elon Musk launching payments to his X social media platform arises again.
Amid the spotlight on Bitcoin’s (BTC) march toward $100,000 and the rising popularity of meme coins, Solana (SOL) has quietly … Continue reading The post We asked ChatGPT-4o what’s next for Solana as SOL hits new highs appeared first on Finbold .
Germany faces an important challenge in the digital age, will it embrace AI to maintain its leadership in sectors like healthcare and automotive? To secure its economic future, it must balance trust with innovation and investment. Germany finds itself facing challenges in the digital age. With the rise of artificial intelligence (AI), Germany faces both
The Terra Luna Classic community rejected the BLV Labs proposal. Validators expressed concerns about the lack of developments on the mainnet. Continue Reading: Terra Luna Classic Community Rejects BLV Labs Proposal The post Terra Luna Classic Community Rejects BLV Labs Proposal appeared first on COINTURK NEWS .