CRV token dropped 12% after Michael Egorov's liquidation incident. Egorov faced $882.66K losses due to rapid devaluation. Continue Reading: Michael Egorov Faces Significant Losses After CRV Token Liquidation The post Michael Egorov Faces Significant Losses After CRV Token Liquidation appeared first on COINTURK NEWS .
Analyst and trader Kevin Svenson is leaning bullish on Bitcoin ( BTC ) as the flagship crypto asset continues to hover above the $100,000 price. Svenson tells his 81,000 YouTube subscribers that based on the Moving Average Convergence/Divergence (MACD) indicator on the daily time frame, Bitcoin could surge higher over the short term. According to the analyst, Bitcoin could go up by around six percent from the current price based on the Fibonacci extension levels – a tool used to determine potential price targets based on the Fibonacci sequence of numbers. “I want to bring your attention to the daily MACD histograms. And what we can see is that we are attempting a cross-up – the bulls may be regaining momentum fully in the very near future… … the bears have now lost their momentum and the bulls are regaining momentum. We are crossing up right now on the daily. So if we do get this cross-up and we close with a confirmed cross-up, I do think Bitcoin may be able to actually break this channel line, this resistance line and punch up towards the 1.618 Fibonacci [extension level]. $111,600 is the next major target.” Source: Kevin Svenson/YouTube Svenson, however, says that Bitcoin “has a lot of room to move down” even amid a bullish trend. “If you’re looking at this upward-sloping channel, in theory, Bitcoin’s price could come all the way down to $100,000 and still be in an uptrend. You can imagine if Bitcoin’s price… let’s say chopped sideways for a bit and then dipped to $100,000, people would be freaking out as they always do. But you just look at the uptrend line – that is a perfect buy zone for Bitcoin that is a great support target and that would be a higher low in the midst of a major bull market. I think the outcome would end up being pretty positive regardless if we saw a slight dip to retest the channel line, the upward-sloping channel line. I think Bitcoin would do just fine from there and continue the bull run.” Source: Kevin Svenson/YouTube Bitcoin is trading at $105,135 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 Bitcoin on Cusp of Rallying Higher as One Indicator Turns Bullish, Says Kevin Svenson – But There’s a Catch appeared first on The Daily Hodl .
Dubai, December 19th , 2024: In the fast-paced world of Web3 and blockchain technology, staying informed about the latest developments can mean the difference between seizing opportunities and missing critical market movements. Addressing this crucial need, ChainGPT has unveiled its AI News Agent , an autonomous system that transforms how Web3 news is gathered, verified, and distributed to readers. Every story comes to life with custom AI-generated visuals, delivering an immersive experience that helps readers better understand complex blockchain developments and market trends. The solution continuously monitors blockchain activities, internet sources, and social media platforms to deliver comprehensive coverage of the latest developments in the Web3 space. ChainGPT employs a sophisticated fact-checking engine to verify information before publication, ensuring the highest standards of accuracy and reliability. Using advanced relevancy algorithms, the system independently determines which events warrant coverage based on their market impact and significance. Commenting on this, Ilan Rakhmanov, Founder & CEO, ChainGPT said, “Our AI News Agent represents a significant leap forward in Web3 news reporting. We are combining autonomous monitoring with robust fact-checking capabilities, thereby setting new standards for speed, accuracy, and reliability in blockchain news coverage.” Through ChainGPT’s AI Hub and an expanding network of industry-leading platforms, including Binance Square , verified news reaches audiences instantly across the Web3 ecosystem. As ChainGPT prepares for the full launch of AIVM in 2025, the company is already taking significant steps towards this vision with the release of AI News Agents, its first autonomous AI solution. Key Features of the AI News Agents includes: Real-time monitoring of blockchain activities, internet sources, and social media Automated fact-checking and verification system Autonomous article generation, publication and distribution Integration with major Web3 platforms AI-generated images for enhanced visual storytelling About ChainGPT Incepted in 2023, ChainGPT is a leading provider of AI-powered tools for the blockchain and Web3 industries. It emerged as a project to bridge the gap between blockchain technology and AI, creating innovative solutions for the Web3 ecosystem. Leveraging advanced AI techniques, ChainGPT enhances blockchain functionality with its tools and applications, including SDKs and APIs for automated smart contract generation, a Web3 AI chatbot, an NFT generator, and an IDO launchpad. With established partnerships and collaborations with industry leaders such as Google, Nvidia, and BNB Chain, ChainGPT continues to pioneer efficient and user-friendly AI solutions in the blockchain space. As a relatively young but rapidly growing project, ChainGPT’s mission is to revolutionize the intersection of blockchain and AI, with a vision to unlock the potential of autonomous AI agents in Web3. Learn more at: https://www.chaingpt.org/ General Resources: Website | Crypto AI Hub | ChainGPT Labs | ChainGPT Pad | CryptoGuard | CGPT DAO | AI NFT Generator | Staking | Blog | Community and Social Media: Twitter | Pad Twitter | Telegram | TelegramBot | Discord | Instagram | LinkedIn | YouTube | TikTok For Media Queries Richa | richa@chaingpt.org & Sharon | sharon@chaingpt.org To learn more about ChainGPT, visit the official ChainGPT.org website For all inquiries, please contact support@chaingpt.org
As many economists know, Federal Reserve Chairman Jerome Powell and the US President-elect Donald J. Trump do not see eye to eye on practically everything. The political “indifference” is nothing short of pronounced; Trump has been asked if he would request Powell to leave office, to which he said, “No I wouldn’t.” President-elect Trump is preparing to assume office. However, his commitment to mainstream crypto adoption and aggressive spending cuts collides with Powell’s more cautious, inflation-focused approach. This simmering tension has been brewing since the election, as speculation mounted over how Trump’s policy priorities; lower taxes, stricter immigration controls, higher tariffs, and a push for digital asset integration, would align with the Federal Reserve’s mandate of price stability. Powell’s recent remarks following the Federal Open Market Committee (FOMC) meeting reveal a central bank bracing for a policy environment rife with uncertainty. Powell’s cryptic stance on crypto and policy rates At the FOMC meeting, the Federal Reserve cut its policy rate by 25 basis points, as anticipated. Yet, the move was overshadowed by the central bank’s shifting projections. The Summary of Economic Projections now forecasts a 3.9% policy rate by the end of next year, signaling two additional rate cuts. Inflation expectations for 2025 climbed to 2.5%, while uncertainty surrounding inflation projections surged, with a broader range of potential outcomes. Powell addressed these projections cautiously, attributing part of the uncertainty to the impact of Trump’s potential tariffs and other economic policies. “We don’t know when we will face that question,” Powell stated, emphasizing the Fed’s focus on studying how tariffs could drive inflation. However, he conceded that some FOMC members had tentatively factored in the possible effects of Trump’s policies, likening the situation to “driving on a foggy night.” While Powell’s comments seem measured, critics argue that they betray a political bias. By incorporating speculative estimates of Trump’s economic agenda into their forecasts, the Fed may have overstepped its neutral role, a criticism Trump and his camp have been more than blithe to exploit. Crypto at the crossroads: No strategic reserve? We can’t ignore the big elephant in the room, a particularly contentious issue: Trump’s suggestion to build a “Strategic Bitcoin Reserve.” JUST IN: 🇺🇸 Federal Reserve Chair Jerome Powell says the Fed is “not allowed to own Bitcoin.” #JeromePowell #FED #FOMC #InterestRates pic.twitter.com/Atq66Kl5VY — Crypto Seth 🌿 🦄 (@waleefin) December 19, 2024 In a press briefing yesterday, Powell dismissed the idea outright, stating, “We’re not allowed to own Bitcoin,” while reiterating that any legal changes to permit such a reserve would require Congressional approval. The comments triggered a pullback in Bitcoin prices, which had rallied sharply post-election amid optimism over Trump’s crypto-friendly agenda. Bitcoin price dips. Source: CoinMarketCap Powell’s skepticism echoes the Fed’s broader caution toward digital assets, and we all know that Trump does not share the same sentiment. The chairman has consistently opposed the idea of federal involvement in cryptocurrencies, framing it as a matter best left to Congress. This cautious stance places Powell at odds with Trump, who sees digital currencies as a tool for innovation and economic growth. We have to wait to see if it is a divide that could further strain the relationship between the White House and the central bank. Make no mistake about it: Bitcoin has been around for more than a decade, and if he didn’t support it before, Fed chair Jerome Powell would never go pro-crypto. Trump’s frustration with Fed independence The conflict is not limited to crypto policy. Trump has a long history of criticizing Powell’s leadership, accusing the Fed of being “political” and suggesting that its rate cuts were timed to benefit electoral outcomes. Despite his criticisms, Trump has also voiced frustration that Powell’s rate cuts did not go far enough, highlighting his desire for more influence over monetary policy. “I feel the president should have at least a say in there,” Trump declared in August, arguing that his business acumen made him better qualified to guide rate decisions than Fed officials. This perspective further outlines Trump’s broader ambition to reshape the central bank’s independence, a move Powell has publicly opposed. “Independent central banks typically have lower inflation,” Powell said in September, defending the existing institutional framework. He stressed the importance of insulating monetary policy from political influence, calling it “a good institutional arrangement” that benefits the public. Political overreach or necessary reform? Trump’s assertion that the Fed should consult him on interest rate decisions raised eyebrows across the political spectrum. Critics warn that undermining the Fed’s independence could destabilize financial markets and erode public trust in monetary policy. Yet, Trump’s supporters, including Tesla CEO Elon Musk , argue that his push for greater oversight reflects legitimate concerns about a central bank they perceive as out of touch with Main Street. The tension between Trump and Powell is simply a battle over who has the power to shape economic policy. Powell insists that the Fed is committed to price stability, even as it invites accusations of political bias. On the other hand, Trump’s more aggressive, interventionist stance echoes his belief in the need for a radical rethinking of monetary policy. The stakes are undoubtedly high for both men. It could go two ways: A constructive dialogue or an outright confrontation about whose policies are the “best for America.” From Zero to Web3 Pro: Your 90-Day Career Launch Plan
The year 2024 has marked a significant breakthrough for digital assets, particularly for bitcoin (BTC), driven by increased institutional adoption. This shift has occurred through two key avenues: first, the integration of bitcoin into public balance sheets as a treasury asset, and second, the success of U.S. spot-listed exchange-traded funds (ETFs) that have amassed over 1 million BTC. A report from K33 Research reveals that U.S.-listed bitcoin ETFs have surpassed U.S.-listed Gold ETFs in terms of assets under management (AUM), including leveraged products such as futures-based ETFs. As of Dec. 17, Bitcoin ETFs reached assets under management (AUM) worth $129.25 billion, edging out Gold ETF AUM at $128.88 billion, according to Vetle Lunde , analyst at K33 Research. However, when comparing spot-based products exclusively, Gold remains slightly ahead. According to Senior Bloomberg ETF Analyst Eric Balchunas , U.S. bitcoin spot ETFs hold $120 billion in AUM compared to $125 billion for Gold ETFs. CME activity remains strong The CME exchange, primarily used by institutions, continues to have strong activity, with futures open interest approaching new highs, with 212,635 BTC in open interest contracts. According to the report, the basis trade premium has continued to rise, reaching 16.4% — the highest level since November 2023. This indicates that CME traders anticipate increased momentum as the year comes to a close. The report notes, "January contracts are trading at sharp premiums relative to December contracts, with the contango widening to 1.5% on Monday — the highest next-month premium recorded since November 2023. The December contract on CME remains the most valuable, with open interest equivalent to 113,480 BTC. The upcoming December roll is expected to be significant, as several upcoming banking holidays may contribute to a further widening of the January premium." The momentum has continued for the past month, as the U.S. spot-listed bitcoin ETFs have seen net inflows every day since Nov. 27, totaling $6.5 billion, according to Farside data. It is important to note that as the basis trade premium continues to widen and with a growing amount of open interest contracts on the CME, a large portion of these net inflows are part of the cash and carry trade. Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy .
Whale activity raises questions as Chainlink tests critical resistance levels near $25. As Chainlink navigates its pivotal price zone, market dynamics suggest a robust interest from long-term investors. “Whale movements
The post Whale Activity Increases Among These Altcoins—Are They Preparing for a Mega-Altseason? appeared first on Coinpedia Fintech News The latest market dynamics suggest they are about more than just what happened but rather about what might happen. The latest 25 bps cut and the Fed’s outlook for 2025 hurt the Bitcoin price and the other altcoins within the market. Ever since the BTC price rose above the consolidation around $102K towards the ATH, whales intensified their activity while raising their holdings. In the last few days, whales were seen buying two tokens, Polygon and Ethena, soon after the BTC price breached above the zone. According to the data from Santiment, the whales have accumulated over 36.65 million Ethena and over 40 million Arbitrum over the past week. These accumulations were recorded by the wallets holding between 1,000,000 to 10,000,000 ARB or ENA tokens. In the meantime, the price of ENA has maintained a consistent upswing, while the ARB price continues to plunge. After the latest reversal in the price of ENA, the bulls have been constantly failing to defend the support levels. However, they are trying hard to prevent the price from breaking below the support zone between $0.83 and $0.79 as the sell-offs continue to accumulate. Besides, the MACD validates a rise in the buying pressure while the supertrend has turned bearish, indicating a breach below the levels could be imminent. Apart from these, whale activity over other platforms also rose, but unfortunately, they sold their holdings instead of buying. Polygon (POL) has witnessed a massive sell-off, mainly led by the whales holding between 10M and 100M, which have sold over 80 million POL in the last 48 hours. This is feared to push the MATIC price into a short-term dip or else a major trend could be expected for the POL price rally. The current trade setup of POL suggests the price is in extreme danger of losing another 15% before the end of the year. The price is testing the neckline of the head & shoulder pattern and a breakdown from here may lead to an extended bearish action below $0.45. Meanwhile, the RSI has turned bearish with the base & conversion line of Ichimoku clouds undergoing a bearish crossover, validating the bearish claim. However, if the price manages to sustain within the zone between $0.49 and $0.51, the bearish narrative could be squashed for a while.
The post Should You Invest in Dogecoin or Shiba Inu? Analysts Say the Real Focus Is on This $0.10 Meme Sensation appeared first on Coinpedia Fintech News As established meme coins like Dogecoin and Shiba Inu surge, investors are eagerly seeking the next big opportunity with even greater growth potential. The spotlight is turning to emerging tokens that blend popular culture with unique concepts, promising substantial returns amid the thriving bull market. One such contender is XYZVerse , a pioneering memecoin that unites sports enthusiasts across various disciplines, poised to outperform predecessors by combining meme appeal with athletic passion. The All-Sports Meme Token You Can’t Afford to Bench! XYZ is your exclusive VIP pass to a sports-driven, meme-fueled revolution. Think of it as the MVP of the XYZVerse ecosystem, where degens can score big off the growing demand for meme coins Picture this: Polymarket hitting $1 billion in trading volume during the US presidential election – now throw in the hype of meme coins and the thrill of sports betting. With millions of sports fans ready to hit the field and cash in the XYZVerse ecosystem is set to keep expanding – and your rewards will slam dunk through the roof! >>>XYZ presale is your first-quarter chance to get in before the mind-blowing explosion! In 2024, meme coins are the undisputed champions of the crypto world, and XYZ is set to crush the competition. With potential thousand-fold returns that will blow past the finish line, the presale plan draws a hefty 9,900% growth by the TGE. Forget about BOME’s 5,000% rise or WIF’s 1,000% rally – XYZ is here to outscore them all! With upcoming listings on major CEX and DEX platforms, rock-solid defense in the form of audited smart contracts, and a fully vetted team, XYZ is already ahead of the game. The first-mover advantage is key here – get in before the crowd storms the field, and you’ll be sitting on way bigger returns! >>Don’t be left on the bench – grab your XYZ tokens now and be part of the next massive crypto championship! Dogecoin (DOGE) Dogecoin is trading between $0.36 and $0.46, showing stability amid market fluctuations. Over the past week, the price has dipped by 2.81%, but it has gained 4.58% in the last month. The Relative Strength Index (RSI) stands at 36.39, nearing oversold levels, which could hint at a potential bullish reversal. The 10-day and 100-day simple moving averages are close, at $0.38 and $0.40 respectively, suggesting consolidation. Bulls are focusing on the nearest resistance at $0.51. If the price breaks above this level, it could climb toward the next resistance at $0.616, representing a significant increase from current levels. This move could mean a rise of over 30%. On the downside, if the price falls, it may find support at $0.31 or even $0.21. With a 6-month gain of over 200%, Dogecoin has shown strong growth. As the crypto market anticipates an altcoin season, traders are watching to see if Dogecoin can push higher. Shiba Inu (SHIB) Shiba Inu (SHIB) is currently trading between $0.00002396 and $0.00003200. In the past week, the price has dipped by about 6%, but over the last month, it has gained 3%. The Relative Strength Index (RSI) stands at 34.51, indicating that SHIB is approaching oversold conditions. The Stochastic oscillator is at 23.71, which also suggests potential undervaluation. The 10-day Simple Moving Average (SMA) is $0.00002572, slightly below the 100-day SMA of $0.00002704, pointing to short-term bearish momentum. Despite recent declines, SHIB may be setting up for a rebound. The nearest resistance level is $0.00003614. Breaking above this could see SHIB targeting the second resistance at $0.00004418, which would be an increase of around 50% from current levels. With a 6-month price increase of over 41% and positive market sentiment for altcoins, SHIB could experience further growth in the upcoming altcoin season. Conclusion While Dogecoin and Shiba Inu are popular, XYZVerse (XYZ) stands out by combining sports and memes, aiming for massive growth in the current bull run. You can find more information about XYZVersus (XYZ) here: Site , Telegram , X
Whale activity raises questions as Chainlink tests critical resistance levels near $25.
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