A widely followed market watcher on TradingView suggests Shiba Inu may experience one final drop before a massive rebound that… The post Analyst Says One Final Shiba Inu Drop Before 131% Surge to $0.00003 first appeared on The Crypto Basic .
Recent on-chain data analysis highlights significant behavior among Bitcoin whales, influencing market trends. The activity of these large holders has been closely monitored due to their potential impact on Bitcoin’s price movements. Notable observations include the net distribution of Bitcoin by whales, shedding light on potential market implications. Discover the intricate dynamics of Bitcoin whales
On-chain data shows the Bitcoin whales took part in significant net distribution in the past month, potentially feeding into BTC’s bearish momentum. Bitcoin Whales Have Been Selling Amid Bearish Market As pointed out by analyst Ali in a new post on X, the BTC whales have been selling recently. The on-chain indicator of interest here
Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National
Investors are preparing for significant volatility in the cryptocurrency market next week, driven by crucial developments. Recent reports suggest that key changes are on the horizon, particularly influenced by upcoming inflation data on Thursday. If the inflation numbers are lower than expected, this could prompt the Federal Reserve to consider rate cuts, whereas disappointing data
The cryptocurrency market has been particularly volatile, with Bitcoin and Ethereum significantly fluctuating in value over recent months. This volatility has been attributed to a host of factors including regulatory news, technological updates, and macroeconomic shifts. One of the standout events was a sharp decline in Bitcoin prices following regulatory crackdowns in major markets like
Chainlink (LINK) is currently facing a bearish trend with the price dropping for three consecutive days. The altcoin has broken through several critical support levels, prompting increased selling pressure and market dominance by sellers. Traders have taken significant short positions against LINK, betting on further declines. Chainlink’s recent price movements reflect a challenging period for
Significant price movements are expected next week. TON Coin could target resistance again with closures above $7.09. Continue Reading: Investors Anticipate Significant Price Movements Next Week
The stock market’s benchmark index, the S&P 500, has been consistently rising over the last few months, moving up 16.7% year-to-date and around 4.5% in just the last 30 days to hit new highs, however the influence of some components of the index has raised concerns. As first pointed out by Zerohedge, the S&P 500
The crypto market is currently navigating through a turbulent phase, particularly for Ethereum, which has seen a significant downturn of nearly 15% in its value over the past week. Amid this negative price performance, Peter Schiff, a well-known economist and a skeptic of cryptocurrencies, has chosen to add salt to the wounds by projecting a stark prediction for ETH. According to Schiff, Ethereum could plummet to as low as $1,500, marking a substantial decline from its current levels. Related Reading: Ethereum Dives Below $3K: What’s Next For The Crypto? Shiff’s Bearish Outlook And Community Reaction Schiff’s prediction comes when Ethereum is trading below the previous crucial support of $3,000 mark, a sharp 30% fall from its peak above $4,500 in March. This decline coincides with heightened speculation surrounding the potential launch of an Ethereum spot exchange-traded fund (ETF), which seems to have triggered a premature sell-off among investors instead of propelling the price. Schiff’s commentary suggests that the market’s response to the ETF rumors has been to liquidate positions rather than hold, adding further downward pressure on Ethereum’s price. He expressed his view on Elon Musk’s social media platform, X, stating, “It looks like those buying the Ethereum ETF rumors couldn’t wait for the fact to sell,” indicating a market driven by speculation rather than sustained investment confidence. While Schiff’s bearish outlook has garnered attention, it has also sparked a mix of skepticism and agreement within the crypto community. Users have expressed varying opinions on social media platforms, with some questioning the technical basis of Schiff’s $1,500 target. Others humorously noted that Schiff’s pessimistic predictions often come at market bottoms, suggesting his views might inadvertently signal a buying opportunity. For instance, one user remarked on the irony of Schiff’s timing, indicating that his bearish predictions could contradict market sentiment indicators. thx for your inputs you do realize you only become relevant on this side of twitter as a bottom signal lol youre like those acoustic wif kids who had a stroke on stage the wif party as a top signal — agent pretzel (@agent_pretzel) July 5, 2024 Ethereum Faces Critical Juncture Ethereum is experiencing a significant downturn, trading at $2,975—a 4.2% drop over the past day. This decline and Bitcoin’s similar trajectory have led to a 4.1% reduction in the global cryptocurrency market cap, erasing more than $200 billion in value. According to Coinglass, this downturn has triggered substantial losses for traders, with 207,020 liquidations in the past day, totaling $576.53 million. Ethereum-related liquidations account for $134.58 million, predominantly from long positions. While Peter Schiff’s outlook may seem too pessimistic amid these market conditions, another voice in the crypto analysis sphere, Inspo Crypto, offers a slightly more moderate view. He notes that Ethereum’s price has fallen to early May levels and suggests that the next 8-hour trading window could be crucial in determining the market’s direction. Related Reading: Analyst Predicts Ethereum Nosedive, Cautions Investors To Prepare For $2,700 Target If Ethereum can rise above these levels, it might potentially ease the bearish trend. However, failure to reach the $3,170 mark (which it already has) could lead to further declines, possibly down to $2,700, exacerbating losses across the altcoin market. $ETH has broken down below $3,170. The next 8 hours (1D candle) will show whether the bulls have given up or not. If the price retraces back above, we should consider this a deviation. But if $ETH instead retests the lower trend channel next at $3,170 unsuccessfully, it could… pic.twitter.com/1msfKQBf2v — InspoCrypto (@InspoCrypto) July 4, 2024 Featured image created with DALL-E, Chart from TradingView