In Brief BTC has slipped from its peak of $93,495 as long-term holders cash out over $3 billion, marking the largest sell-off in 5 months. Market indicators signal potential correction, with BTC’s MVRV ratio at 182.06%, hinting the coin may be overvalued. If selling continues, the next support level near $83,983 looms, though renewed demand…
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In Brief Russia plans to ban crypto mining in occupied Ukrainian regions, including Donetsk, Lugansk, Zaporizhia, and Kherson. Seasonal mining restrictions will apply in Siberia from December 2023 through March 2031, with a full ban in some areas starting December 2024. Authorities cite electricity shortages during winter as the main reason for the mining crackdown.…
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In Brief Dogwifhat has dropped 7% to $3.46 amid bearish momentum, with the Elder Ray Index at -0.22, signaling seller dominance. RSI at 44.80 highlights waning buying pressure, increasing the likelihood of a dip below the $3 support level. WIF may fall to $2.57 if selling persists, but renewed demand could push it toward $4.19,…
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In Brief On-chain data shows that crypto whales have accumulated POL tokens worth $65 million over the last seven days. The number of Polygon bulls have outpaced the number of bears, reinforcing the bullish sentiment around the token. POL has formed an inverse head and shoulders on the 4-hour chart, suggesting that the price could…
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In Brief MicroStrategy is offering $1.75 billion in convertible notes, maturing in 2029, to buy more Bitcoin. On the same day, the firm acquired $4.6 billion in Bitcoin, following a $2 billion purchase the previous week. MicroStrategy’s Bitcoin-first strategy aligns its value with BTC, achieving record highs amidst the bull market. MicroStrategy Founder Michael Saylor…
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In Brief Bonk (BONK) becomes Solana’s top meme coin, surpassing Dogwifhat (WIF) with a $3.77B market cap after a 28% price surge. The BONK DAO announcement to burn 1 trillion tokens by Christmas Day increased scarcity, fueling its price and market cap rise. Bullish momentum could push BONK to $0.000055, but overbought conditions might cause…
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In Brief Bitcoin dominance drops to 60%, fueled by rising altcoin performance, including Bonk and XRP, and a growing altcoin season index of 39. Extreme Greed sentiment on the Crypto Fear and Greed Index signals a potential Bitcoin price correction, opening doors for altcoin breakouts. Altcoin market cap hits $1.19 trillion; a continued BTC dominance…
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In Brief Coinbase CEO Brian Armstrong pointed out that the new Department of Government Efficiency (D.O.G.E) presents a “lifetime opportunity.” Gemini co-founder Cameron Winklevoss said the Elon Musk-led initiative has the potential to address inflation and financial inequality in US. Meanwhile, Ripple’s Stuart Alderoty urged the new department to investigate the spending inefficiencies at the…
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In Brief Bitcoin (BTC) trades at $90,893, with the NVT golden cross at -3.25, signaling significant room for further price appreciation. Historical trends and analyst suggest BTC could surpass $100,000, potentially triggering retail involvement and extended gains. A bullish flag pattern indicates a potential rally to $104,228, but an overheated NVT reading may prompt a…
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In Brief Speculation is growing that SEC Chair Gary Gensler may announce his resignation after Thanksgiving. Chair Gensler has faced criticism from the crypto community for his enforcement-heavy approach. Potential successors would be tasked with mending relationship with the emerging cryptocurrency industry. Reports suggest that Gary Gensler, Chair of the US Securities and Exchange Commission…
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