Author: Defx Intern

Dogecoin, the popular meme coin, has recently faced significant volatility due to macroeconomic uncertainty and U.S. trade war fears. The price plummeted over 39% in just 48 hours, erasing weeks of gains. However, on-chain data reveals that Dogecoin whales took advantage of the dip, accumulating a staggering 750 million DOGE.

The massive accumulation by whales signals strong confidence in Dogecoin’s long-term potential, despite the short-term volatility. This buying pressure from large investors suggests that they view the current price levels as an attractive entry point, rather than a sign of prolonged weakness.

As Dogecoin hovers around the crucial 200-day exponential moving average (EMA), bulls are fighting to defend this key support level. If DOGE manages to hold above the 200-day EMA and reclaim key resistance levels, it could pave the way for a potential rally. However, a failure to do so may lead to further consolidation or a deeper correction.

The coming weeks will be critical in determining Dogecoin’s short-term trajectory. If the meme coin can regain momentum and break above the $0.29 resistance level, it could trigger renewed buying pressure and set the stage for further gains. On the other hand, a sustained break below the 200-day EMA might invite additional selling pressure.

Despite the recent volatility, Dogecoin’s long-term outlook remains bullish, with some analysts predicting that the price could surpass its 2021 all-time high of $0.73. As the market closely watches Dogecoin’s next move, the whales’ accumulation during the dip reinforces the belief in the meme coin’s future prospects.

Tags: Dogecoin, DOGE, Dogecoin whales, Dogecoin accumulation, Dogecoin price analysis

Source: https://bitcoinist.com/dogecoin-whales-buy-750-million-coins-in-recent-market-dip-a-sign-of-confidence-in-the-market/

The cryptocurrency industry experienced a tumultuous January, marked by significant policy shifts, the rise of memecoins, and mixed market signals. Binance Research’s latest monthly report highlights several key factors that influenced the $3.76 trillion market.

The pro-crypto stance of the Trump administration, coupled with the unexpected emergence of Deepseek, contributed to a sense of optimism among investors. However, the meteoric ascent of Solana also raised concerns about market stability and the potential for speculative bubbles.

Market analysts suggest that the current environment presents both opportunities and risks for investors. While the favorable regulatory climate may attract more institutional players, the unpredictable nature of memecoins and the rapid price appreciation of certain assets could lead to increased volatility.

As the crypto landscape continues to evolve, market participants will need to closely monitor policy developments, technological advancements, and shifting investor sentiments to navigate the complex and dynamic world of digital assets.

Tags: Crypto Market, Policy Shifts, Memecoins, Solana, Deepseek

Source: https://news.bitcoin.com/crypto-industry-sees-mixed-signals-in-january-amid-policy-shifts-and-memecoin-mania/

Ethereum recently experienced extreme volatility, plunging over 30% in a single day amid market panic fueled by U.S. trade war fears, only to stage an impressive recovery within hours following positive developments. Despite the turbulence, top analyst Jelle reveals that ETH is trading within a massive multi-year bullish pennant, suggesting a potential breakout above $4,000 is on the horizon.

The recent sharp rebound has reignited optimism among Ethereum investors, as the long-term bullish structure provides strong support for ETH’s growth potential. However, in the short-term, Ethereum is facing selling pressure and struggling to reclaim the crucial $3,000 level. Bulls need to push ETH above this key psychological level to confirm a breakout and set the stage for a rally into price discovery.

Jelle’s technical analysis indicates that Ethereum is currently setting its direction to tag key supply levels within the bullish pennant. A decisive move above the pattern could trigger a massive surge, propelling ETH to new all-time highs. On the other hand, a loss of the $2,800 support level could lead to a deeper correction, potentially dragging the price down to the $2,500 region.

As Ethereum remains at a critical juncture, traders and investors are closely watching key resistance and support levels. The next major move could have significant implications for the broader crypto market, given Ethereum’s position as the second-largest cryptocurrency by market capitalization. A successful breakout above $3,000-$3,100 could ignite a rally toward $3,500 and beyond, while a failure to hold support could extend the current consolidation phase.

Tags: Ethereum, ETH price, technical analysis, bullish pennant, breakout, crypto market

Source: https://www.newsbtc.com/news/ethereum/ethereum-trades-inside-a-multi-year-bullish-pennant-analyst-sees-a-breakout-above-4k/

The mobile game NFL Rivals has launched a special Super Bowl LIX promotion, offering NFT player cards and rewards through the Polkadot-based Mythos network. This move brings together the worlds of professional football and blockchain technology, providing fans with a new way to engage with the sport and collect unique digital assets.

The integration of NFTs into the NFL Rivals game represents a significant step forward in the adoption of blockchain technology within the sports industry. By leveraging the Polkadot network, NFL Rivals ensures a scalable and interoperable platform for its NFT offerings, which could pave the way for other sports organizations to follow suit.

The Super Bowl promotion’s launch is likely to attract a wide audience, given the immense popularity of the NFL and the growing interest in NFTs among sports enthusiasts. As more fans participate in the promotion and acquire the limited-edition player cards, the demand for these digital assets may increase, potentially leading to a thriving secondary market.

Moreover, the use of NFTs in the gaming context provides a new layer of engagement and ownership for players. The unique nature of these digital assets allows fans to truly own a piece of the game and potentially benefit from their rarity and value appreciation over time. This development could inspire other game developers to explore similar NFT integrations, further propelling the adoption of blockchain technology in the gaming industry.

Tags: NFL Rivals, Super Bowl LIX, NFTs, Polkadot, Mythos, blockchain gaming

Source: https://decrypt.co/304786/nfl-rivals-game-launches-super-bowl-player-cards-and-rewards

As Bitcoin’s correlation with global markets continues to grow, the narrative of it being a safe-haven asset similar to gold is being challenged. This increasing correlation is attributed by some analysts to the rise in institutional investment and algorithmic trading in the cryptocurrency space.

The recent imposition of a 25% tariff by the U.S. on Canadian and Mexican imports led to a brief drop in Bitcoin’s price below $93,000, dragging the broader crypto market down with it. This event highlights how macroeconomic factors and geopolitical tensions can now have a more pronounced impact on Bitcoin’s price action.

While Bitcoin has often been touted as an uncorrelated asset that can provide a hedge against traditional market volatility, the recent trends suggest that this may no longer be the case. As more institutional players enter the market and trading becomes increasingly automated, Bitcoin’s price movements are starting to mirror those of mainstream financial assets.

This growing correlation raises questions about Bitcoin’s long-term viability as a safe-haven asset and its potential to provide diversification benefits in investment portfolios. Investors and traders may need to reassess their strategies and risk management approaches in light of these evolving market dynamics.

Despite these challenges, Bitcoin’s fundamental value proposition as a decentralized, scarce, and censorship-resistant asset remains intact. As the cryptocurrency market matures and regulatory clarity improves, Bitcoin’s unique characteristics may still offer long-term benefits for investors seeking alternative assets.

Tags: Bitcoin, Market Correlation, Safe Haven, Institutional Investment, Algorithmic Trading

Source: https://news.bitcoin.com/bitcoins-correlation-with-markets-grows-challenging-safe-haven-narrative/

The cryptocurrency industry’s banking crisis in the U.S. appears to be easing as two congressional committees shed light on the treatment of crypto businesses by regulators. In a hearing of the House Financial Services Committee, Coinbase Chief Legal Officer Paul Grewal testified about the abuse of authority from regulators who created barriers between banks and crypto firms.

Republican lawmakers widely agreed with Grewal’s complaints about “regulation by exhaustion” and his view that financial regulators such as the FDIC publicly insisted they weren’t against crypto while privately directing banks away from the industry. Democrats, however, flagged concerns with President Donald Trump’s own crypto business efforts and argued that cautioning banks against ties with the volatile, fraud-laden sector was appropriate.

The congressional scrutiny comes as Coinbase has been making progress in its legal pursuit of FDIC documents under the Freedom of Information Act. A judge in the U.S. District Court for the District of Columbia expressed frustration with the FDIC’s resistance to the request and demanded answers on accusations that the regulator may have destroyed relevant documents.

The FDIC has since released more documents and its Acting Chairman, Travis Hill, ordered a review of supervisory communications with banks about crypto. While the FDIC has faced much of the criticism, Senator Cynthia Lummis also revealed an internal Federal Reserve document that she said provided “hard proof of Operation Chokepoint” – the industry’s term for the informal actions undertaken by regulators to pressure U.S. banks to debank crypto.

The congressional interest in the crypto industry’s banking challenges is expected to continue next week with another hearing entitled “A Golden Age of Digital Assets: Charting a Path Forward.” This development suggests a potential shift in the regulatory landscape for cryptocurrencies in the U.S., with lawmakers increasingly scrutinizing the actions of financial regulators and seeking to create a more supportive environment for the industry.

Tags: cryptocurrency, debanking, congressional hearings, Coinbase, FDIC, Federal Reserve

Source: https://www.coindesk.com/policy/2025/02/06/crypto-s-debanking-worries-hit-another-big-stage-in-u-s-house

1inch, a popular decentralized exchange aggregator, has announced the integration of ZKsync into its cross-chain swap infrastructure. This strategic alliance aims to enhance the user experience by enabling faster and more cost-efficient asset transfers across different blockchain networks.

By leveraging ZKsync’s layer two (L2) solution, which utilizes zero-knowledge rollup (ZK-Rollup) technology, 1inch can now offer users the ability to swap assets between various blockchains with improved transaction processing speeds and reduced gas fees. This integration marks a significant step forward in 1inch’s mission to provide a seamless and efficient cross-chain trading experience.

The incorporation of ZKsync into 1inch’s ecosystem is expected to attract more users and liquidity providers, as the enhanced cross-chain functionality and cost savings will make it more appealing for traders to utilize 1inch’s services. This increased adoption could potentially lead to higher trading volumes and liquidity on the platform, benefiting both users and token holders.

Furthermore, the integration of ZKsync highlights 1inch’s commitment to staying at the forefront of decentralized finance (DeFi) innovation. By continuously improving its infrastructure and partnering with cutting-edge projects like ZKsync, 1inch positions itself as a leading player in the DeFi space, ready to capture the growing demand for efficient and user-friendly cross-chain trading solutions.

Tags: 1inch, ZKsync, Cross-Chain Swaps, DeFi, Zero-Knowledge Rollups

Source: https://news.bitcoin.com/1inch-elevates-cross-chain-trading-via-zksync-alliance/

Just days after the launch of President Donald Trump’s Truth.Fi fintech venture, the firm is already plotting to offer Bitcoin investment products. According to recent reports, Truth.Fi is planning to launch a ‘Bitcoin Plus’ ETF, signaling a strong interest in the cryptocurrency market.

The move comes as a surprise to many, given Trump’s previous criticisms of Bitcoin and other cryptocurrencies. However, it appears that the former president’s views on digital assets may have evolved, or perhaps the potential for significant financial gains has outweighed his initial skepticism.

The launch of a Bitcoin ETF by Truth.Fi could have significant implications for the cryptocurrency market. ETFs have long been seen as a potential catalyst for greater mainstream adoption of cryptocurrencies, as they provide a more accessible and regulated way for investors to gain exposure to digital assets.

If successful, the Truth.Fi Bitcoin Plus ETF could attract a new wave of institutional and retail investors to the cryptocurrency space, potentially driving up demand and prices. However, it remains to be seen how regulators will respond to the proposal, given the ongoing regulatory uncertainty surrounding cryptocurrencies in the United States.

As more details emerge about Truth.Fi’s Bitcoin Plus ETF, market participants will be closely watching to see how this development unfolds and what impact it may have on the broader cryptocurrency landscape.

Tags: Trump, Truth.Fi, Bitcoin ETF, Cryptocurrency, Fintech

Source: https://decrypt.co/304735/president-trump-truthfi-bitcoin-plus-etf

XRP’s price has taken a sharp downturn in the past 24 hours, extending its seven-day losses and slipping below a critical support level at $2.50. This breakdown opens up the risk of further decline to the next key support range between $2.25 and $2.30. The bearish sentiment is reinforced by the looming death cross on the 4-hour chart, signaling a potential shift in momentum favoring the bears.

The imminent death cross, indicated by the 50-day moving average crossing below the 200-day moving average, suggests that the ongoing power struggle between bulls and bears might be tilting in favor of the bears. If the bears maintain their dominance, XRP could breach minor support levels at $2.30 and $2.25, potentially dropping to $1.91 and erasing its gains from the past two months.

Furthermore, XRP’s performance against Bitcoin has turned negative, with the altcoin closing below its 50-day MA on the XRP/BTC daily chart for the first time in nearly three months. This trend shift is confirmed by the Relative Strength Index (RSI), which is now in a downtrend.

At the time of writing, XRP is trading at $2.43, down 3.26% over the past 24 hours and 21.66% over the past week. These losses, coupled with weakening technical indicators, paint a cautious outlook for the altcoin in the near term. However, if Bitcoin’s price stabilizes above $100,000, the ongoing dip could present potential accumulation opportunities for investors between $2.40 and $2.50.

Tags: XRP price, death cross, moving averages, technical analysis, crypto market

Source: https://bitcoinist.com/xrp-threatens-death-cross/

Bitcoin’s price has been on a rollercoaster ride, oscillating between $95,850 and $96,234 in the past hour. Despite the fluctuations, the leading cryptocurrency boasts a valuation of $1.917 trillion and a global volume footprint of $47.52 billion. However, Bitcoin currently lingers 11% beneath its historic lifetime price high, facing a crucial test of key support levels.

The hourly chart reveals price stabilization with modest declines, suggesting that bulls are struggling to maintain their grip on the market. As Bitcoin approaches critical support levels, the outcome of this battle could determine the short-term trajectory of the cryptocurrency.

Market participants should keep a close eye on these key support levels, as a breach could potentially trigger further downside pressure. On the other hand, if Bitcoin manages to hold above these crucial levels, it could pave the way for a potential recovery and a renewed attempt at breaking through resistance.

The current market sentiment appears to be cautiously optimistic, with investors closely monitoring the developments around these key price levels. As Bitcoin continues to face the ultimate test of its resilience, the coming hours and days could prove to be pivotal in shaping the near-term outlook for the world’s largest cryptocurrency.

Tags: Bitcoin price analysis, key support levels, market sentiment, cryptocurrency market, technical analysis

Source: https://news.bitcoin.com/bitcoin-price-analysis-rollercoaster-fluctuations-as-key-support-faces-ultimate-test/