XRP price has crashed nearly 27% since forming a local top on September 29, 2024, at $0.664. With crypto markets sliding lower due to the Tether FUD and escalation of the Israel-Iran conflict, Ripple will also continue its descent. But the key question remains – “How low will XRP price go in November?” In this The post How Low Could XRP Price Drop in November 2024? appeared first on CoinGape .
Tesla's internal bitcoin transfers highlight market's growing resilience, as $776.9M movement causes no price impact despite initial concerns
The post Bitcoin Bull Run on the Horizon: Will BTC Reach $100K by December? appeared first on Coinpedia Fintech News The cryptocurrency market is buzzing with optimism as analysts forecast a potential rise in Bitcoin’s price to $100,000 within the next year. This bullish sentiment is fueled by several key factors, including institutional adoption, U.S. government overspending, and anticipated economic stimulus packages. BTC Resistance at $68,000- What it means Captain Faibik stated that Bitcoin bulls …
Shiba Inu executive has published a mysterious and motivating X post
Universal Music Group (UMG) just put out a new version of Brenda Lee’s 1958 classic “Rockin’ Around the Christmas Tree” in Spanish, thanks to SoundLabs’ AI tech. They’re calling it “Noche Buena y Navidad.” This rework got Lee’s full approval and was produced by Latin music heavyweight Auero Baqueiro. UMG claims it is proof that
As the cryptocurrency market continues to evolve, certain digital assets are poised for significant gains in the near future. Ethereum, with its recent advancements, stands out among these, while four other altcoins are attracting increased attention due to their strong potential. This article delves into these cryptocurrencies that could experience substantial growth over the next Continue Reading: Ethereum and These 4 Other Altcoins Show Strong Potential for Growth Over the Next 3 Months
As the United States presidential election heats up, Polymarket, a leading crypto-based prediction platform, finds itself in a spotlight. The post Polymarket Gains Popularity as U.S. Election Nears, Founder Denies Political Intent appeared first on TheCoinrise.com .
Ethereum's share of the market isn't as high as it once was. Is it time to worry now?
Data shows the ratio between two Bitcoin on-chain metrics has recently formed a pattern that has historically been bullish for the asset’s price. Bitcoin LTH/STH SOPR Ratio Has Crossed Above Its 90-Day MA Recently In a new post on X, CryptoQuant author Axel Adler Jr has discussed about the recent trend in the Bitcoin SOPR Ratio. The “Spent Output Profit Ratio” (SOPR) is an indicator that tells us about whether the Bitcoin investors as a whole are selling at a profit or loss. When the value of this metric is greater than 1, it means the average holder is making BTC transactions at a net profit. On the other hand, it being under the mark implies loss-taking is dominant on the network. Related Reading: Dogecoin Surges 16%, But Here’s What DOGE ‘Risk Indicator’ Says About Rally The SOPR Ratio, the actual metric of interest here, keeps track of the ratio between the version of the SOPR specifically for short-term holders and that for long-term holders. Short-term holders (STHs) and long-term holders (LTHs) are the two main divisions of the Bitcoin userbase made on the basis of holding time. The cutoff between these cohorts is 155 days, with investors who hold past this mark moving from the STHs to the LTHs. Now, here is the chart shared by the analyst that shows the trend in the Bitcoin SOPR Ratio and its 90-day moving average (MA) over the history of the cryptocurrency: As displayed in the above graph, the Bitcoin SOPR Ratio has seen a surge recently, which suggests the LTHs have been ramping up their profit-taking compared to the STHs. This trend is something that has historically been witnessed during bullish periods, since the LTHs are resolute entities who tend to amass large profits by the time the bull run hits in full swing. The STHs are by definition the holders who bought within the past five months, meaning that their cost basis lies somewhere around the prices that BTC was trading at inside this window. Thus, their profits are never as big as the LTHs, who often have their cost basis close to bear market lows. This is why the ratio blows up toward the LTHs in bullish periods. With the latest increase, the SOPR Ratio has reached a value of 1.8 and has surpassed its 90-day MA. In the chart, the CryptoQuant author has highlighted the past instances of this crossover. It would appear that this pattern has generally proven to be bullish for Bitcoin. Related Reading: Is It Too Late To Accumulate Bitcoin? What This Indicator Says Naturally, the profit-taking from the LTHs can be a concern, but as is apparent from the graph, the cycle has usually only been at risk of topping out when the ratio has broken above a value of 7. Thus, there could still be plenty of room to run for Bitcoin, with demand potentially absorbing the LTH profit-taking until the same extreme levels as the past cycles. BTC Price At the time of writing, Bitcoin is trading at around $68,200, up more than 1% over the last 24 hours. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Bitcoin investors are presently displaying renewed enthusiasm towards the largest crypto asset as its net capital inflows have experienced a notable spike. This signals an increase in overall market appetite and has prompted speculations about potential rallies in the upcoming months. Bitcoin Capital Inflows Soars, Strong Demand Ahead? According to current reports from Glassnode, a