Decentralized quantum computing represents a transformative shift in how we approach advanced problem-solving.
Decentralized quantum computing represents a transformative shift in how we approach advanced problem-solving.
Gary Gensler to Step Down as SEC Chair | MicroStrategy Stock Plunges Despite Bitcoin Approaching $100K | CFTC Advisory Panel Backs Tokenized Collateral for Derivatives Trades
In a recent statement, Michael Novogratz, CEO of Galaxy Digital, emphasized the transformative impact of the Trump administration on cryptocurrency regulation. Novogratz noted that the administration’s approach has initiated a
Bitcoin has so far continued to level up in terms of price performance, hitting new highs consistently for the past week. As a result of this, investors seem to be curious about whether it’s time to secure profits or stay bullish for the next leg of the cycle. A recent analysis by a CryptoQuant analyst, known as Darkfost, sheds light on this and the current market sentiment, offering insights into potential strategies for navigating the current phase of Bitcoin’s cycle. Related Reading: Analyst Reveals Bitcoin’s Hidden Price Zones: Key Levels Investors Need To Watch Time to Secure Profits? Darkfost’s observations center around the S2F reversion metric, a tool used to gauge market conditions and identify strategic moments for buying or selling Bitcoin. According to the analyst, this metric has reached 2.5, a historical indicator that signals the market is “heating up.” While this doesn’t suggest Bitcoin has reached its cycle peak, it indicates that the asset is entering a phase where profit-taking could be a wise strategy. Darkfost wrote: Currently, the S2F reversion has reached the 2.5 level, which historically suggests that starting to take some profits may be prudent. This doesn’t indicate we’ve reached the cycle’s top, but it means that the market is beginning to heat up but stay bull. Notably, the S2F (Stock-to-Flow) reversion metric is derived from Bitcoin’s stock-to-flow model, which compares the asset’s existing supply with its annual production rate. This model has historically provided insights into Bitcoin’s valuation and potential price movements. The S2F reversion specifically measures deviations from this model, with higher levels typically indicating overbought conditions in the market. While the S2F metric for Bitcoin has now reached 2.5 level, Darkfost has pointed out when to take profit, noting: The next target for further profit-taking would likely be when the S2F reversion metric reaches the 3.0 level. Bitcoin Market Performance Bitcoin remains in a bullish trend. Earlier today, the asset reached a new all-time high (ATH) of $98,310 bringing its year-to-date price performance to over 160%. Related Reading: Crypto Analyst Warns of Potential Bitcoin Market Shift as Exchange Reserves Decline However, at the time of writing, BTC has faced a little price correction from its peak as it trades for $97,236, down by 1.2% from its ATH but still up by 3.1% in the past day. Analysts say the asset is primed for a further rally to the six-figure price mark. Ali, one of the prominent crypto analysts in the space, for instance has recently highlighted that with Bitcoin breaking out of a bullish flag on the lower time frames, the asset could reach $100,000 as soon as today. #Bitcoin $BTC could reach $100,000 today as it appears to be breaking out of a bull flag on the lower timeframes. pic.twitter.com/UKKcXilHO4 — Ali (@ali_charts) November 21, 2024 Featured image created with DALL-E, Chart from TradingView
Cardano continues to attract attention with its rise. What are the reasons for the rise of ADA? Will the rise continue? Continue Reading: Cardano (ADA) Is Experiencing an Unprecedented Rise! What is the Reason for the Rise, Will It Continue?
As investors diversify their portfolios and look for opportunities elsewhere, Bitcoin's ability to maintain its position could be tested.
Crypto.com is making headlines with its aggressive expansion into equities, challenging the competitive landscape of traditional finance. These strategic acquisitions come at a time when the cryptocurrency sector is experiencing
In a recent interview, Senator Cynthia Lummis said that accumulating more Bitcoin could help cut the US Debt by half in 20 years, sparking market optimism. Notably, Lummis has been a vocal supporter of BTC, which has gained significant attention from the crypto market participants lately. Having said that, the Senator has also lauded the The post Senator Cynthia Lummis Proposes Bitcoin Buying To Reduce US Debt appeared first on CoinGape .
A user tried to generate a bot to snipe meme coins on Pump.fun. The code contained commands to send out Solana wallet private keys, draining wallets almost immediately after exposure.