Author: Defx Intern

Ethereum’s price has started to recover after dropping below the crucial $2,500 support level, but the path to a sustained rally seems to be facing significant hurdles. The second-largest cryptocurrency by market cap managed to climb above the $2,550 resistance and even surpassed the 50% Fibonacci retracement level of the recent downswing. However, bears have become active near the $2,900 zone, blocking further upside momentum.

Despite the positive signs of recovery, Ethereum is now trading below the key $2,880 level and the 100-hourly Simple Moving Average. The formation of a short-term declining channel on the hourly chart with resistance at $2,800 suggests that the price could be gearing up for another leg down if it fails to break above the channel.

For Ethereum to maintain its bullish momentum, it needs to decisively break above the $2,920 resistance level. Such a move could open the doors for a retest of the $3,000 psychological level, followed by potential upside targets at $3,120 and $3,250. On the flip side, if the price fails to clear the $2,880 hurdle, it could trigger another sell-off, with immediate support levels at $2,640 and $2,550.

The technical indicators also paint a mixed picture, with the MACD losing momentum in the bullish zone and the RSI dipping below the 50 level. This suggests that the bulls are losing their grip on the market, and a bearish reversal could be on the cards if the key resistance levels are not breached soon.

As the cryptocurrency market continues to experience heightened volatility, investors and traders need to keep a close eye on the key support and resistance levels for Ethereum. A breakdown below the critical $2,500 support could lead to a more extended downtrend, while a clear break above $2,920 could signal the start of a fresh rally.

Tags: Ethereum price, ETH recovery, cryptocurrency market, technical analysis, key support levels

Source: https://www.newsbtc.com/analysis/eth/ethereum-price-barriers-2880/

Bitcoin price has started another decline after failing to sustain above the $102,500 resistance zone. The cryptocurrency is currently trading below $99,500 and the 100 hourly Simple Moving Average, struggling to maintain its position above the key support level of $96,500.

The recent pullback has seen Bitcoin lose its bullish momentum, with the bears pushing the price below the 50% Fibonacci retracement level of the upward move from $91,000 to $102,500. This suggests that the market sentiment may be shifting, and further losses could be on the horizon.

If Bitcoin fails to rise above the $99,000 resistance zone, it could trigger a fresh decline, with immediate support lying near the $96,500 level. A break below this level could see the price drop to the $95,500 level, which coincides with the 61.8% Fibonacci retracement level.

On the upside, a close above the $100,000 resistance level could signal a potential trend reversal, opening the door for a retest of the $102,500 level and possibly higher. However, given the current market conditions, such a scenario seems less likely in the short term.

As Bitcoin continues to consolidate below key resistance levels, traders and investors should keep a close eye on the support zones and be prepared for potential further downside. The technical indicators, such as the MACD and RSI, suggest that the bullish momentum is waning, which could lead to increased selling pressure in the near term.

Tags: Bitcoin price, crypto market, technical analysis, support levels, resistance zones

Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-pulls-back-100k/

Coinbase, the leading US-based cryptocurrency exchange, has achieved a significant milestone by securing regulatory approval in the United Kingdom. The Virtual Asset Service Provider (VASP) registration granted by the Financial Conduct Authority (FCA) solidifies Coinbase’s position as the largest registered digital asset provider in the country.

This approval marks a crucial step in Coinbase’s ambitious plans for global expansion. With the UK serving as a strategic gateway to Europe, Coinbase can now accelerate its growth in the region, offering a wide range of crypto and fiat services to its growing user base. The regulatory green light instills confidence in Coinbase’s operations and reinforces its commitment to compliance and user protection.

The implications of this development are far-reaching for the crypto market. Coinbase’s expanded presence in the UK is expected to drive increased adoption and mainstream acceptance of cryptocurrencies. As more users gain access to a trusted and regulated platform, the overall liquidity and stability of the market are likely to improve. Moreover, Coinbase’s success in navigating the stringent regulatory landscape sets a positive precedent for other crypto businesses seeking to operate in the UK and Europe.

From a technical perspective, Coinbase’s approval may also pave the way for the introduction of new trading pairs and enhanced features on its platform. This could attract a broader range of investors and traders, further fueling the growth of the crypto ecosystem. As Coinbase continues to innovate and expand its offerings, it is well-positioned to capitalize on the growing demand for digital assets and blockchain-based solutions.

Tags: Coinbase, UK Approval, Crypto Adoption, Global Expansion, Regulatory Compliance

Source: https://news.bitcoin.com/coinbase-secures-uk-approval-unlocking-ambitious-expansion-plans-for-mass-adoption/

As Bitcoin’s price hovers above $99,000 following a volatile week, market analysts are highlighting potential opportunities for investors. Despite the recent pullback from the $100,000 mark, underlying trends suggest a bullish outlook for the leading cryptocurrency.

According to Darkfost, a contributor on CryptoQuant’s QuickTake platform, the recent triggering of the Smart DCA indicator suggests that current price levels may be a favorable entry point for investors employing a dollar-cost averaging (DCA) strategy. By comparing Bitcoin’s average price to its short-term realized price, this indicator aims to identify optimal zones for long-term accumulation.

In addition to the Smart DCA signal, other analysts point to increasing buyer activity as a sign of bullish momentum. Onatt, another CryptoQuant analyst, noted a visible premium on Coinbase, indicating strong demand for Bitcoin despite recent volatility. Furthermore, negative funding rates driven by long liquidations suggest that buyers are taking advantage of discounted prices to position themselves for a potential upward movement.

Analyst Ali also identified a critical demand zone for Bitcoin between $96,475 and $99,360, which, if held as support, could favor the bulls. A breakout above the $102,350 to $103,900 supply zone could further strengthen the bullish case and potentially set the stage for a sustained recovery.

As investors navigate the current market conditions, it is essential to consider a range of metrics and conduct thorough analysis before making investment decisions. While the Smart DCA indicator and other bullish signals provide some optimism, it is crucial to remain cautious and prepared for potential volatility in the rapidly evolving cryptocurrency market.

Tags: Bitcoin, DCA, Crypto Market, Technical Analysis, Bullish Momentum

Source: https://www.newsbtc.com/bitcoin-news/key-indicator-signals-dca-opportunity-amid-bitcoin-buyer-momentum/

As the crypto market experiences significant volatility, Binance CEO Richard Teng has stepped forward to offer three essential survival tips for investors navigating these turbulent times. In a recent social media post, Teng addressed investor concerns and provided insights that could prove invaluable in making informed decisions during market downturns.

Teng’s advice comes at a critical juncture for the crypto market, with prices fluctuating wildly and investor sentiment wavering. By sharing his expertise, the Binance CEO aims to help investors maintain perspective and avoid panic-driven decisions that could lead to substantial losses.

The sudden downturn in the crypto market has left many investors grappling with uncertainty and fear. However, Teng’s three survival tips serve as a beacon of guidance, emphasizing the importance of long-term thinking, risk management, and emotional control. By adhering to these principles, investors can potentially weather the storm and emerge stronger on the other side.

As one of the most prominent figures in the crypto industry, Teng’s words carry significant weight. His advice is likely to resonate with both seasoned investors and newcomers alike, providing a framework for navigating the challenges posed by market volatility. By taking a measured approach and following Teng’s guidance, investors can potentially mitigate risks and position themselves for long-term success in the crypto space.

While the specific details of Teng’s three survival tips remain undisclosed, their impact on investor sentiment and market dynamics cannot be understated. As the crypto community eagerly awaits further insights from the Binance CEO, his initial post serves as a reminder of the importance of education, resilience, and adaptability in the face of market uncertainties.

Tags: Binance, Crypto Market, Investor Tips, Market Volatility, Risk Management

Source: https://news.bitcoin.com/binance-ceos-advice-3-tips-to-handle-cryptos-sudden-downturn/

Bitcoin and the broader crypto market experienced a sharp decline amidst fears of a U.S. trade war, only to swiftly recover following reports of President Trump’s negotiations with Mexico and Canada to lift tariffs. While this turnaround has brought renewed optimism, volatility remains high.

Amid this turbulence, the Bitcoin Funding Rate has turned negative for the seventh time in a year, according to CryptoQuant. Historically, each of the previous six instances has signaled a strong bullish momentum for BTC, suggesting that traders have turned overly bearish—often a precursor to a sharp rebound.

Bitcoin’s resilience in the face of the recent selloff highlights its potential for a significant rally, reinforcing its long-term bullish outlook despite short-term uncertainty. The current macro environment, with key developments in the U.S. favoring crypto adoption, a pro-crypto president in office, and the final year of the halving cycle unfolding, sets the stage for potential explosive growth.

As Bitcoin consolidates below the $100K mark, traders are closely watching key support and resistance levels. Reclaiming the $100K level as strong support would be the first step toward a renewed push into price discovery, while a break below the critical $98K support could introduce further uncertainty. To fully regain bullish momentum, BTC must decisively break above the $103,600 resistance.

The coming days will be crucial in shaping Bitcoin’s short-term trend and determining whether the market continues its upward trajectory. If historical patterns hold, the current negative Funding Rate could set the stage for another significant rally, solidifying Bitcoin’s dominance as it leads the next phase of the market cycle.

Tags: Bitcoin, Crypto Market, Bitcoin Funding Rate, Market Analysis, Technical Analysis

Source: https://bitcoinist.com/bitcoin-funding-rate-turns-negative-for-the-7th-time-in-a-year-every-previous-drop-led-to-gains/

In a significant development for the digital asset industry, U.S. Senate and House lawmakers have joined forces to establish a powerful crypto working group. The aim of this bicameral initiative is to create a comprehensive regulatory framework that will drive innovation, expand financial access, and secure America’s global leadership in the crypto space.

The formation of this working group comes at a crucial time for the crypto industry, as regulatory clarity has been a long-standing challenge. By bringing together lawmakers from both chambers of Congress, this initiative demonstrates a strong commitment to developing a cohesive and forward-thinking approach to crypto regulation.

The implications of this development are significant for the crypto market. A clear and supportive regulatory environment is essential for fostering innovation and attracting institutional investors. With lawmakers actively collaborating to shape crypto policy, it sends a positive signal to the market and could potentially unlock new growth opportunities.

As the working group progresses, it will be important to strike a balance between protecting consumers and promoting innovation. Overregulation could stifle growth and drive businesses offshore, while underregulation could leave investors vulnerable to fraud and manipulation. Finding the right equilibrium will be key to ensuring the long-term success of the crypto industry in the United States.

The establishment of this crypto working group is a testament to the growing recognition of digital assets as a legitimate and important part of the financial landscape. As lawmakers work to create a comprehensive regulatory framework, it will not only benefit the crypto industry but also position the United States as a global leader in this rapidly evolving space.

Tags: Crypto Regulation, US Lawmakers, Digital Assets, Innovation, Global Leadership

Source: https://news.bitcoin.com/lawmakers-launch-powerful-crypto-working-group-to-shape-us-policy/

In the face of recent market turbulence, Bitcoin has once again demonstrated its strength and resilience compared to altcoins. Despite a sharp 9% drop on fears of a U.S. trade war, Bitcoin swiftly rebounded by over 12% following reports of ongoing negotiations to lift tariffs. This rapid recovery highlights Bitcoin’s dominance and ability to weather market uncertainty.

Top analyst Daan’s technical analysis on X underscores Bitcoin’s robust performance, noting that BTC remains significantly stronger than other assets in the market. Even amid aggressive selling pressure, Bitcoin has maintained its overall uptrend and structural integrity, supported by strong demand levels that prevent deeper corrections.

As Bitcoin trades back above key levels, investors are closely monitoring its ability to sustain momentum and potentially push towards new all-time highs. The coming days will be crucial in determining whether Bitcoin can further solidify its position as the leading cryptocurrency or face additional volatility tests.

Institutional interest continues to be a driving force behind Bitcoin’s dominance, with on-chain data revealing ongoing accumulation by whales and large holders. Unlike previous market cycles primarily fueled by retail investors, the current rally appears to be backed by institutions and long-term holders, providing a more sustainable foundation for growth.

Bitcoin is currently testing crucial support levels below the $100K mark, with key zones at $98K and $90K. Maintaining these levels is essential for confirming short-term strength and setting the stage for a potential breakout. However, to fully regain bullish momentum, Bitcoin must decisively reclaim and hold above the $103,600 resistance level, which could open the door for a significant rally towards new all-time highs.

As the market continues to evolve, Bitcoin’s resilience and ability to outperform altcoins underscore its position as the leading cryptocurrency. Investors and traders alike will be keeping a close eye on Bitcoin’s price action, as its movements have the potential to shape the broader crypto market sentiment and trajectory.

Tags: Bitcoin, market volatility, altcoins, technical analysis, institutional interest, Bitcoin dominance

Source: https://www.newsbtc.com/bitcoin-news/bitcoin-looks-stronger-compared-to-altcoins-demand-remains-strong-as-price-consolidates-in-a-range/

The XRP Ledger experienced a temporary halt in block production on Monday, as reported by Ripple CTO David Schwartz. Early analysis suggests that the issue stemmed from a consensus problem where validations were not being published as expected.

This incident highlights the importance of robust consensus mechanisms in blockchain networks. While the XRP Ledger is designed to be resilient and secure, occasional hiccups can occur due to various factors such as network congestion, software bugs, or unexpected validator behavior. It is crucial for blockchain developers and node operators to closely monitor the network health and promptly address any issues that arise.

The temporary halt in block production may have had a short-term impact on XRP transactions and liquidity. However, as the issue appears to have been resolved relatively quickly, the long-term implications are likely to be minimal. Investors and traders should keep an eye on any official updates from Ripple regarding the incident and any potential measures being taken to prevent similar occurrences in the future.

It is worth noting that despite occasional challenges, the XRP Ledger has maintained a strong track record of reliability and performance over the years. The network’s unique consensus algorithm, which relies on a set of trusted validators, has proven to be effective in ensuring the integrity and security of transactions.

As the blockchain industry continues to evolve, it is essential for projects like Ripple to remain vigilant and proactive in identifying and addressing potential vulnerabilities. By doing so, they can maintain the trust and confidence of their users and contribute to the overall stability and growth of the cryptocurrency ecosystem.

Tags: XRP Ledger, Ripple, block production, consensus, network health

Source: https://decrypt.co/304451/xrp-ledger-temporarily-halts-block-production-ripple-cto

Crypto analysts are turning bullish on Dogecoin (DOGE) as the meme coin shows signs of a potential breakout above the key $0.30 resistance level. TradingShot, a popular analyst on TradingView, has identified a ‘channel down’ formation on DOGE’s chart, suggesting that a bounce towards $0.38 could be on the horizon.

The recent downtrend in the broader crypto market hit Dogecoin particularly hard, with the coin dropping 40% to lows around $0.20. However, the sell-off pushed DOGE into oversold territory, and the coin has since recovered some ground following a pause in tariffs between the US, Mexico, and Canada.

TradingShot notes that if the current pattern is a 1-day channel down, then the recent low of $0.20 could mark a bottom, similar to the December 2024 low that saw DOGE rebound towards the 0.786 Fibonacci retracement level. With DOGE trading within a 2-month channel down that may be a bull flag on a wider scale, a breakout above $0.30 could signal the start of a new bullish leg.

Other analysts share this optimism, with Kevin Capital stating that DOGE may have just completed its second major correction of the bull cycle and could be poised to begin the next leg up. Trader Tardigrade also points to a bullish MACD crossover on the 4-hour chart as evidence that DOGE is gaining upward momentum.

A decisive break above $0.30 would be a significant milestone for Dogecoin, potentially opening the door for a retest of the coin’s previous highs. However, the meme coin’s fate remains closely tied to the broader market sentiment, particularly that of Bitcoin. If BTC can maintain its upward trajectory, DOGE may have a clear path to continue its bull run.

As always, traders and investors should exercise caution and practice proper risk management when trading volatile assets like cryptocurrencies. While the technical analysis may suggest a bullish outlook for DOGE, the market remains unpredictable, and sudden shifts in sentiment can quickly invalidate even the most promising setups.

Tags: Dogecoin, DOGE, price prediction, technical analysis, crypto market, bullish crossover, Fibonacci retracement, meme coin

Source: https://bitcoinist.com/dogecoin-bounce-above-0-3-ahead/