Bitcoin showing signs of being in the midst of initial coin offering, analyst says
Bitcoin showing signs of being in the midst of initial coin offering, analyst says
Bitcoin might be moving sideways, but Jordi Visser says there is still faith in the underlying asset, as shown through ETF approvals and the Bitcoin network hashrate hitting new highs.
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Shiba Inu Facing A Bear Market? Pundit Shows What To Expect
Shiba Inu appears to be repeating a familiar market structure, according to a recent technical analysis shared by crypto trader IncomeSharks on X. The analyst highlighted how SHIB’s price history over the past two years reflects a cyclical pattern of short-lived rallies followed by prolonged downturns. At the time of writing, SHIB is trading around […]
Robert Kiyosaki: Massive Crash Starting, Millions Will Be Wiped out, Doubles Down on Bitcoin
Robert Kiyosaki warns the global economy is entering a catastrophic collapse that could wipe out millions of investors, urging immediate action to escape the destruction by moving wealth into bitcoin, ethereum, gold, and silver before it’s too late. Robert Kiyosaki: Massive Crash Warning as Millions Face Losses, Bitcoin Offers Hope Robert Kiyosaki, author of the […]
- NEWSBTC
Are Bitcoin Investors Back In Accumulation Mode? On-Chain Data Says ‘Possibly’
After the market-wide downturn on October 10, the Bitcoin price showed no definite direction for the rest of the historically bullish month. At the moment, the premier cryptocurrency is struggling to gather any significant momentum to the upside. However, recent on-chain evaluation suggests that this period of relative silence could represent a springboard for the cryptocurrency’s sustained upswing. Sender/Receiver Ratio Falls To One-Year Low In a recent Quicktake post on the CryptoQuant platform, pseudonymous analyst CryptoOnchain shared an interesting insight into Bitcoin’s future trajectory, leaning towards a bullish hypothesis in the report. The relevant on-chain indicator here is the Bitcoin Sender/Receiver Address Ratio, which compares the number of active sending (selling) addresses to receiving (buying) addresses. This metric acts as a means to gauge the prevalent market sentiment within a period of time. Related Reading: Altcoin Season Loading: Bullish Factors That Point To A Massive Surge A high ratio (with a reading above 1) indicates that there are more sending addresses compared to the buying addresses. As a result, there is expectedly greater selling pressure in this market condition. On the other hand, a low ratio (a reading approaching 1 and levels below) reflects the preponderance of buying addresses. CryptoOnchain reported that Bitcoin’s Sender/Receiver ratio on Binance has recently fallen to 1.34 — its lowest level in the past year. As previously explained, when this ratio falls to levels such as it currently reads, it usually indicates that there are more buying addresses relative to the amount of selling addresses in the market. This shift in investor leanings typically signals an accumulation phase, where more investors are willing to acquire Bitcoin on exchanges. Interestingly, the analyst also referenced historical evidence, explaining that periods where this shift in market sentiment occurred often preceded the establishment of local price bottoms. As of late 2024, the Sender/Receiver ratio fell to levels around 1.3, with significant upward movement following suit, and a similar pattern was seen in early 2023. According to CryptoOnchain, this current consolidation phase could signal that the market’s foundation is gaining strength. Thus, if history is anything to go by, Bitcoin’s price could see an immense upward boost in the days to come — one which could sponsor the world’s leading asset to see a fine amount of growth in the mid-term. Bitcoin Price At A Glance As of this writing, Bitcoin is worth approximately $109,899, reflecting no significant movement in the past day. According to data from CoinGecko, the premier cryptocurrency is down by nearly 2% in the past seven days. Related Reading: Ethereum Support Band Under Pressure — Can Bulls Revive Momentum From $3,700? Featured image from iStock, chart from TradingView
Grayscale Forecasts Explosive Altcoin Growth—11 Crypto Assets Set to Meet Fresh SEC Standards
Altcoins including XRP, cardano, avalanche, chainlink, bitcoin cash, shiba inu, and polkadot are set for a powerful breakout as Grayscale forecasts sweeping SEC-approved expansion in regulated crypto investment products. Grayscale Predicts Altcoin Breakout, 11 Crypto Assets Primed for New SEC Qualification Crypto asset manager Grayscale Investments projected a bullish expansion in the digital asset market […]
MEXC Sees Massive Exchange Withdrawals After User Funds Freeze Incident – Details
Cryptocurrency exchange MEXC saw increased activity on its platform on Friday, October 31st, with several users seemingly moving their assets away. These massive withdrawals coincided with the exchange’s chief strategy officer’s public apology for mishandling a situation with a user with the pseudonym The White Whale. Earlier in July, The White Whale claimed that MEXC […]
Privacy Coins Seize Market Lead: Sector Jumps 15% as Broader Crypto Market Stalls
On Nov. 1, privacy coins experienced a major rally, boosting their collective market capitalization by 15% to over $24.3 billion. Top Performers and Financial Milestones A rally across most privacy coins on Nov. 1 delivered a 15% surge to their total market capitalization, pushing the valuation just above $24.3 billion. This performance contrasted sharply with […]
- NEWSBTC
Dogecoin Whales Are Offloading Hundreds Of Millions Of DOGE, Here Are The Facts
Dogecoin whales are now back in the spotlight as recent on-chain metrics reveal a major move involving hundreds of millions of DOGE. The latest data shows 440 million DOGE being offloaded as selling pressures intensify. Amidst this sharp decline in whale holdings, the meme coin’s price has experienced significant volatility, falling to $0.18 after recording weeks-long losses. Dogecoin Whales Trim DOGE Holdings En Masse According to on-chain data from crypto analytics platform Santiment, wallets holding between 10,000,000 and 100,000,000 DOGE have sold off roughly 440 million tokens within 72 hours. This large-scale distribution marks one of the most significant short-term liquidations from mid-level whale wallets in recent weeks. Related Reading: Dogecoin Open Interest Crashes 50% From October Highs, Volume Is Worse, What’s Going On? Notably, on Thursday, October 29, these wallets accounted for approximately 15.51% of the total DOGE supply, but that figure dropped to 15.31% the following day. Moreover, it declined again on October 31 to 15.17%, and now stands at a low of 15.15%, at the time of writing. As whales abruptly reduced their exposure, the market also responded quickly. Data from CoinMarketCap shows that Dogecoin’s price plummeted about 5.76% this last week, following its 27% crash over the past month. As selling pressure increases for Dogecoin, Santiment’s data further reveals that whale transaction counts for holders managing DOGE worth $100,000 and above spiked to 119 transactions on October 30, before plunging to 15 at the time of writing. This sharp decline suggests a rapid transition from distribution to dormancy among short-term high-volume traders. Interestingly, there have been signs of a redistribution, indicating that not all large holders are exiting the market. Santiment reports that whales with holdings exceeding 100,000,000 DOGE have increased their balances from 19.28% to 19.46% over the same period, implying accumulation from even larger players. Meanwhile, investors with holdings between 100,000 and 10,000,000 DOGE have maintained a steady position, signaling a neutral stance amid market uncertainty. Analysts Eye $0.33 And Beyond As Technical Patterns Align Despite widespread whale dumping, analysts remain optimistic about Dogecoin’s medium to long-term price trajectory. Crypto market expert Ali Martinez identified Dogecoin’s current price at $0.18 as a critical support level. Based on his analysis, maintaining this price floor could spark a recovery wave targeting $0.26 and potentially $0.33. His chart illustrating Dogecoin’s ongoing consolidation within an Ascending Channel highlights a potential upward break aligning with previous recovery phases. Related Reading: Dogecoin Price Resurrection To $0.5 Could Be Imminent If This Level Breaks Adding to the bullish outlook, Bitcoinsensus has released a long-term projection, suggesting an explosive continuation of DOGE’s cyclical uptrend. The analysis compares past rallies, showing gains of 300% and 500%, and now points toward a potential 800% surge that could propel the meme coin to approximately $1.70 in the current market cycle. The accompanying chart reflects a pattern of expanding momentum phases, supported by ascending trendlines from 2023. Featured image from Getty Images, chart from Tradingview.com
Bitcoin and Ether ETFs Drop $290 Million as Solana’s Green Run Continues
Bitcoin and ether exchange-traded funds (ETFs) wrapped up the week in the red with combined outflows exceeding $290 million, while solana ETFs extended their winning streak with a $44 million inflow, marking a resilient close to October’s final trading day. Crypto ETFs Close the Week Mixed: Solana Up, Bitcoin and Ether Down The week’s final […]