Category: NewsBTC

NewsBTC: What Exchange Absorbed FTX’s Trading Volume? Report Answers

In the wake of the FTX collapse, formerly the second-largest exchange in the world, its competitors are taking over its trading volume and market share. The nascent sector is still suffering the consequences of recent events; many crypto companies filed for bankruptcy or are in the process of raising emergency liquidity.  Related Reading: FTX Contagion Creates Fear Among Whales And Old Hands, On-Chain-Data Reveals The FTX’s fallout is taking its toll on the crypto market. Bitcoin, Ethereum, and other more prominent cryptocurrencies are trading in losses. No digital assets escaped the bloodbath recorded by the sector in the previous week. ...

NewsBTC: Latest Findings Show Bitcoin Holders Under Fire As Price Continues To Sink

The situation in the Bitcoin and crypto market has continued to follow a downward trend. Prices of most crypto assets are maintaining a southward movement over the past weeks. The collapse of FTX is still spinning the wheels negatively as the contagion spreads. Related Reading: These Bitcoin Metrics Signal A Capitulation Event Is Near Glassnode, a blockchain analytics company, reports more doubts about the crypto market. On November 21, the firm concluded its ‘Week on-chain’ report and disclosed the impact of the market crisis on Bitcoin holders. In its report, the firm checked the total increase in the Mean Inflow...

NewsBTC: Litecoin (LTC) Defends $60 As Altcoins Suffer; Here Are Levels To Watch

 LTC’s price continues to hold strong as the bull refuses to give in to the FTX fiasco as price trends are above $60.   LTC’s price continues to look strong despite bearish market sentiments, as things look uncertain for most traders and investors.  LTC’s price looks strong and continues to hold above the daily 50 Exponential Moving Average (EMA). The price action displayed by Litecoin (LTC) has been a joy to watch, holding up nicely above the daily range price channel it has formed in the last few weeks despite the uncertainty in the market. The market continued to look like...

NewsBTC: FTX Contagion Creates Fear Among Whales And Old Hands, On-Chain-Data Reveals

While the contagion effects of FTX’s collapse still cannot be fully assessed, Bitcoin whales and OGs seem to be playing it safe. Most notably, the insolvency fate of Genesis Trading, DCG and Grayscale is hovering over the Bitcoin market like a sword of Damocles. This uncertainty is especially evident in the cohort of Bitcoin whales and long-term holders. As Glassnode notes in its latest report, recent on-chain data suggests that “the confidence and financial position of whales and Bitcoin old hands have been shaken by the event.” Whales, institutions and trading firms are taking a larger share of exchange deposits,...

NewsBTC: World Cup 2022: Chiliz Slides 15% As Sports Spectacle Unfurls – Can CHZ Make A Goal?

The World Cup just kicked off and the native token of the sports-themed cryptocurrency ecosystem, Chiliz, has dropped 15% in value over the past 24 hours. This is not the kind of news traders and investors want to read about. The long-awaited World Cup clearly had no compensating effect on the prevailing economic conditions. Here’s A Quick Rundown Of How CHZ Is Doing: – Readily available data indicates a strong bear market hindered CHZ’s rally – Near 1:1 ratio of long vs short positions shows cautious support for the token – Price continues to fall; bulls should defend at $0.1664 and...

NewsBTC: Ethereum (ETH) Bulls And Bears Tussle At $1,000; Will Bears Come Top?

 ETH’s price lost its demand zone of $1,200 as the price struggled to hold above $1,000.   ETH’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  ETH’s price looks weak as the price struggles to hold above $1,000, with the possibility of reclaiming the daily and weekly 50 and 200 Exponential Moving Averages (EMA) remaining bleak. The price action displayed by Ethereum (ETH) has continued to look like a fairytale, with many traders and investors disheartened, following the collapse of the FTX effect affecting small crypto projects like Genesis as...

NewsBTC: These Bitcoin Metrics Signal A Capitulation Event Is Near

Several metrics currently suggest that the Bitcoin price is finally finding its bottom after another capitulation event, possibly triggered by the Genesis/ DCG/ Grayscale saga. This final miner capitulation may be imminent as miners are selling their BTC at the fastest rate since early 2016. In light of the new bear market low, some Bitcoin miners are currently going through arguably the most difficult time ever. The BTC price fell to a new bear market low yesterday at $15,478, putting it in no-man’s land. At the time of writing, Bitcoin was trading just above the low, at $15,678. According to...

NewsBTC: XRP Price Holds Ground While BTC and ETH Slide, Here’s Breakout Zone

Ripple failed to clear $0.40 and corrected lower against the US Dollar. XRP price could start a decent increase if it stays above the $0.345 support zone. Ripple started a fresh decline from the $0.40 resistance zone against the US dollar. The price is now trading below $0.380 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.371 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a strong increase if it clears the $0.388 resistance zone. Ripple Price Remains Supported This past week,...

NewsBTC: Ethereum Price Plunges, Why ETH Could Soon Dive Below $1,000

Ethereum traded below the $1,150 support against the US Dollar. ETH is gaining bearish momentum and might dive below the $1,000 support zone. Ethereum remained in a bearish zone below the $1,150 and $1,120 support levels. The price is now trading below $1,150 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains at a risk of more losses below $1,050 and $1,000 in the near term. Ethereum Price Turns Red Ethereum price started another decline from the...

NewsBTC: Chainlink Rally In Social Activity Hits ATH Of 44,173 – Will LINK Price Climb As Well?

There has been an expected uptick in the Chainlink protocol’s optimism recently. This is due to the fact that the BUILD program is a part of Chainlink’s next protocol upgrade, Chainlink Economics 2.0. The initial 10 BUILD program projects were announced on Chainlink’s official Twitter account. This clearly increased the amount of online discussion on the project. Chainlink’s native token LINK’s social activity has increased from 35,540 yesterday to 44,173, and it’s likely to continue rising in the days ahead. Give a welcome to the first 10 #Chainlink BUILD projects:@[email protected]@[email protected]@[email protected]@[email protected][email protected]@chainml_ Building the future of Web3? Take your dApp to the next...

NewsBTC: Bitcoin Price Trend Overwhelmingly Negative, Bears Target $13K

Bitcoin price extended losses and retested the $15,800 support. BTC could continue to move down towards the $15,000 and $14,000 levels. Bitcoin started a fresh decline below the $16,000 and $15,800 levels. The price is trading below $16,400 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of more losses towards the $15,000 level or even $14,000. Bitcoin Price Revisit $15,500 Bitcoin price started a fresh decline from the $17,000 resistance. BTC...

NewsBTC: Solana (SOL) Struggles As Single-digit Price Knocks; Will Bulls Buy Below $10?

 SOL’s price lost its demand zone of $20 as the price struggled to hold above $10.   SOL’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  SOL’s price looks weak as the price struggles to hold above $10, with the possibility of reclaiming the daily and weekly 50 and 200 Exponential Moving Averages (EMA) remaining bleak. The price action displayed by Solana (SOL) has continued to look like a fairytale, with many traders and investors disheartened, following the collapse of the FTX effect affecting small crypto projects like Genesis as...

NewsBTC: Here’s Why Ethereum Is Not Out Of The Woods Yet

Ethereum has been seeing some significant downside coming out of the weekend. This was triggered by the FTX hacker, who currently holds hundreds of thousands of ETH, dumping some of those coins for Bitcoin over the weekend. After dumping around 10,000 ETH, the digital asset had dumped more than 7%, as a large number of investors continue tracking the wallet. More Pain To Come For ETH Looking at the impact of the FTX hacker selling ETH for BTC had on the market, and seeing the balances of the address, it is no secret that Ethereum is not completely out of...

NewsBTC: Polygon Faces Decision Time As Price Sits On Key Support; Will $0.7 Hold Sell-off?

 MATIC’s price lost its demand zone as the price struggled to hold above $0.7.   MATIC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  MATIC’s price looks weak as the price struggles to hold above $0.7, with the possibility of reclaiming the daily 50 Exponential Moving Average (EMA) remaining bleak. The price action displayed by Polygon (MATIC) has continued to look disheartening, with the FTX effect affecting small crypto projects like Genesis as the market continues to look weak on each passing day signifying the bottom is not yet in...

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