Category: News

Bitcoin’s market cap has surged an impressive 5.3x since the 2022 market bottom, rising from $363 billion to a staggering $1.93 trillion. This growth has outpaced the altcoin market, which has only managed a 4.7x increase to reach $892 billion. The divergence highlights Bitcoin’s growing dominance and appeal as a safe haven asset during times of economic uncertainty and market volatility.

Despite the impressive growth, Bitcoin is currently trading within a well-defined range, fluctuating between its all-time high of $109K and range lows around $89K. The market remains highly volatile, with both bulls and bears battling for control. Investors are closely monitoring key resistance levels, with a breakout above $109K potentially pushing BTC into price discovery, while losing the $89K support might trigger a deeper correction.

The current consolidation phase has frustrated many investors, who are eagerly awaiting a decisive move. However, the fact that Bitcoin has managed to maintain its dominance over altcoins during this period is a testament to its strength and growing maturity as an asset class. As capital flows heavily into BTC, altcoins have struggled to keep pace, leading to further market fear and uncertainty.

Looking ahead, Bitcoin’s ability to break through key resistance levels will be crucial in determining its short-term direction. A successful break above the $100K mark could quickly propel BTC back into the higher range, testing uncharted territory near all-time highs. On the other hand, failure to break above these levels could lead to a retrace into lower demand zones, with key support levels sitting around $96K and $90K.

As the market continues to evolve, it is becoming increasingly clear that Bitcoin is solidifying its position as the leading cryptocurrency. Its growing dominance over altcoins, even during periods of consolidation and uncertainty, highlights its potential as a store of value and hedge against traditional financial markets. While the road ahead may be volatile, Bitcoin’s long-term prospects remain strong, and its ability to weather market storms will likely continue to attract investors seeking stability and growth in the rapidly evolving world of cryptocurrencies.

Tags: Bitcoin dominance, market cap, altcoins, price analysis, consolidation

Source: https://bitcoinist.com/bitcoin-market-cap-surges-5-3x-to-1-93t-growing-faster-than-altcoins-since-2022/

The TRON blockchain is experiencing remarkable growth and solidifying its presence in the crypto space. Fueled by a surge in stablecoin transactions and a thriving memecoin ecosystem, TRON has seen a significant increase in network activity, attracting both retail and institutional investors.

TRON now handles an impressive 60% of all USDT transfers across blockchains, with its USDT balance approaching an all-time high following two recent $1 billion mints. This surge in stablecoin supply suggests heightened demand and trading activity on the network. Meanwhile, the launch of SunPump and a generous $10 million meme ecosystem reward program have ignited an explosion of innovation, with over 94,000 new coins added to the TRON network.

The platform’s annual revenue of $2 billion is a testament to its growing adoption for real-world use cases. TRON now ranks as one of the top public layer-1 blockchains, second only to Solana in daily active addresses. Strong social engagement and positive market sentiment, as evidenced by TRON’s #1 ranking on LunarCrush’s AltRank, further underscore the network’s potential for continued growth and adoption.

Technical analysis suggests that TRX, TRON’s native cryptocurrency, could see price action between $0.20 and $0.30 in the near term. With its robust fundamentals and increasing market presence, TRON is well-positioned for steady development and potential price appreciation.

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Tags: TRON, TRX, USDT, stablecoins, memecoins, blockchain, crypto, market analysis

Source: https://www.newsbtc.com/news/tron-social-dominance-climbs-as-usdt-balance-nears-ath/

Bitcoin is currently trading below the $100K mark, with no clear trend in sight. As the market struggles for direction, key on-chain data reveals an important trend among Bitcoin holders. Analyst Axel Adler highlights that since Bitcoin reached $28K, address activity has dropped into negative territory, indicating that the majority of BTC holders are in HODL mode.

This shift in behavior suggests that something has changed in this cycle compared to previous bull markets. With fewer coins being moved or sold, supply is tightening at a faster rate, potentially setting the stage for an eventual supply squeeze. If demand spikes again, Bitcoin could rapidly break out of its current range and enter price discovery.

The market now awaits confirmation of the next move, whether that’s a strong push back above $100K or a deeper correction into key demand levels. If bulls want to reclaim momentum, Bitcoin must break above the $100K resistance level and hold it as support. A decisive move above this mark, backed by strong buying pressure, could fuel a rally toward all-time highs.

On the downside, if Bitcoin loses the $96K level again, a deeper correction could follow. The next major demand zone sits around $90K, where strong buying interest could emerge. For now, Bitcoin’s price remains range-bound, and traders are closely watching for a breakout in either direction.

Tags: Bitcoin, HODLing, Address Activity, On-Chain Data, Bitcoin Price, Market Analysis

Source: https://bitcoinist.com/bitcoin-address-activity-turns-negative-as-hodling-dominates-for-nearly-two-years-whats-different-this-cycle/

Multiple US states are moving towards establishing Bitcoin reserves, with Missouri and Kentucky being the latest to introduce legislation supporting the trend. Missouri Representative Ben Keathley has proposed a bill to create a Bitcoin Strategic Reserve Fund, allowing the state treasurer to purchase and hold Bitcoin using state funds. Meanwhile, Kentucky has authorized investing up to 10% of its excess reserves into Bitcoin and other digital assets.

The growing interest in Bitcoin among US states signifies a shift in perception and acceptance of cryptocurrencies as a legitimate asset class. By diversifying their investment portfolios with Bitcoin, these states are positioning themselves to benefit from the potential upside of the leading cryptocurrency while also hedging against economic uncertainty.

The pro-crypto stance of the Trump administration is expected to further accelerate Bitcoin adoption in the coming months. With the possibility of a US Federal Bitcoin reserve on the horizon, the demand for Bitcoin is likely to skyrocket, driving up its price and market capitalization.

As more states join the Bitcoin reserve race, it could create a domino effect, encouraging other states and even countries to follow suit. This widespread adoption could lead to increased liquidity, stability, and mainstream acceptance of Bitcoin as a store of value and means of exchange.

Investors looking to capitalize on this trend may consider allocating a portion of their portfolio to Bitcoin and other promising cryptocurrencies. However, it is essential to conduct thorough research and exercise caution, as the crypto market is known for its volatility and risks.

Tags: Bitcoin reserves, US states, crypto adoption, Trump administration, Bitcoin price

Source: https://www.newsbtc.com/news/next-big-crypto-to-invest-in-as-missouri-and-kentucky-join-the-bitcoin-reserve-race/

Tether, a leading stablecoin issuer, has partnered with Reelly Tech to integrate USDT transactions into the United Arab Emirates (UAE) real estate market. This strategic collaboration aims to streamline property transactions for over 30,000 real estate agents in the region by leveraging the benefits of stablecoins.

The partnership between Tether and Reelly Tech marks a significant step forward in the adoption of cryptocurrencies in the real estate industry. By enabling the use of USDT, a stablecoin pegged to the US dollar, the two companies are providing a more efficient and secure means of conducting property transactions. This move is expected to enhance liquidity, reduce transaction costs, and improve the overall experience for both buyers and sellers in the UAE real estate market.

The integration of USDT into the real estate sector could potentially attract more international investors to the UAE property market. Stablecoins offer a stable and reliable alternative to traditional fiat currencies, mitigating the risks associated with volatility in the cryptocurrency market. This stability, combined with the ease of cross-border transactions, may entice foreign investors to explore opportunities in the UAE real estate landscape.

Furthermore, the partnership between Tether and Reelly Tech aligns with the UAE’s vision of becoming a global hub for blockchain innovation and digital assets. The country has been proactively embracing cryptocurrencies and blockchain technology, with various initiatives and regulations aimed at fostering a conducive environment for their growth. The adoption of USDT in the real estate sector further solidifies the UAE’s position as a forward-thinking nation in the realm of digital currencies.

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Tags: Tether, USDT, UAE Real Estate, Stablecoins, Cryptocurrency Adoption

Source: https://news.bitcoin.com/tether-and-reelly-partner-to-bring-stablecoin-transactions-to-over-30000-uae-real-estate-agents/

Despite recent market corrections that have dampened some investors’ bullish sentiment, several analysts argue that key indicators suggest the crypto bull market still has room to run. The total crypto market capitalization briefly dipped below the crucial $3 trillion support level before bouncing back, leading some to believe that the market top may not be in sight just yet.

Technical analysis of the total crypto market chart reveals similarities between the current cycle and the previous one, with the potential for a market peak to occur in Q4 2025. If history repeats itself, the crypto market could reach a staggering $4.5 trillion market capitalization before the bull run exhausts itself.

The altcoin market, excluding Bitcoin and Ethereum, also shows signs of resilience, having swept the 2024 highs and recovered from the recent correction. This could indicate that the highly anticipated altseason is still on the horizon, with the potential for altcoins to test their December highs and possibly break their 2021 all-time highs.

While the crypto market’s short-term future remains uncertain, the overall outlook appears to be cautiously optimistic. Investors should keep a close eye on key support and resistance levels, as well as the market’s reaction to any upcoming developments or regulatory changes.

Tags: crypto market analysis, altseason, technical analysis, market capitalization, crypto trading

Source: NewseBTC

In the wake of Donald Trump’s presidential election victory, Kentucky has become the latest US state to propose legislation aimed at establishing a Bitcoin reserve. The bill, introduced by State Representative Theodore Joseph Roberts, seeks to allow the State Investment Commission to allocate up to 10% of excess state reserves into cryptocurrencies, with Bitcoin being the only digital asset currently meeting the bill’s criteria.

Kentucky joins a growing list of states, including Arizona, Alabama, Florida, and Wyoming, that have introduced similar Bitcoin reserve bills. While none of these proposals have been implemented so far, the trend highlights the increasing interest in cryptocurrencies among US state governments. The move comes as more countries worldwide consider establishing strategic Bitcoin reserves to diversify their financial holdings.

The proposed legislation in Kentucky has the potential to boost Bitcoin’s legitimacy as a store of value and could pave the way for other states to follow suit. If passed, the bill would allow Kentucky to invest a significant portion of its excess reserves in Bitcoin, further cementing the cryptocurrency’s status as a mainstream financial asset.

However, the bill’s passage is not guaranteed, as similar proposals in other states have faced challenges. Wyoming’s bill failed to pass a committee vote, while North Dakota’s bill was voted down in the House. Utah’s bill, which successfully passed the House, marks the first Bitcoin reserve bill to clear a chamber vote, but its fate in the Senate remains uncertain.

As the global cryptocurrency market continues to evolve, the outcome of Kentucky’s proposed legislation could have significant implications for the future of Bitcoin and its role in the financial landscape. With the potential for national Bitcoin reserves on the horizon, the world will be watching closely as this trend unfolds.

Tags: Bitcoin, Bitcoin Reserve, Cryptocurrency, US States, Kentucky, Legislation

Source: https://bitcoinist.com/kentucky-becomes-latest-state-to-propose-bitcoin-reserve-bill-key-details/

Emomotimi Agama, the director general of the Nigerian Securities and Exchange Commission (SEC), has expressed strong optimism about the potential of blockchain technology to enhance efficiency and aid in capital market regulation in Nigeria. Agama believes that blockchain solutions can address many of the challenges faced by African markets.

The endorsement of blockchain technology by Nigeria’s top securities regulator is a significant boost for the growing adoption of cryptocurrencies and blockchain-based solutions in the country. As one of Africa’s largest economies, Nigeria’s embrace of blockchain could pave the way for wider acceptance across the continent.

The SEC’s positive stance on blockchain suggests that regulatory clarity and support may be forthcoming, which could attract more blockchain projects and investments to Nigeria. The potential use cases for blockchain in capital markets are vast, ranging from improving settlement times and reducing costs to enhancing transparency and security.

As Nigeria continues to explore the integration of blockchain in its financial systems, it could position itself as a leading hub for blockchain innovation in Africa. The SEC’s proactive approach in recognizing the potential of this technology is a promising sign for the future of Nigeria’s capital markets and the broader blockchain ecosystem.

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Tags: Nigeria, Blockchain, Capital Markets, Regulation, SEC

Source: https://news.bitcoin.com/nigeria-embraces-blockchain-sec-director-general-sees-huge-potential-for-capital-market-regulation/

A recent analysis by CryptoQuant analyst ‘Avocado Onchain’ suggests that despite the current market pessimism, Bitcoin may be poised for a comeback. The analyst examined Binance’s funding rates, which represent the cost of holding long or short positions in the futures market, and identified a pattern that could signal a potential rebound.

Historically, negative funding rates on Binance have been rare, but when they occur, they have often preceded significant price rebounds. This dynamic is thought to be linked to the behavior of retail traders, who dominate Binance’s trading volume. When these traders display heightened fear, manifested through negative funding rates, Bitcoin has tended to defy the prevailing sentiment and recover.

The analyst also noted that during past bull markets, Bitcoin’s price has rebounded after hitting negative funding rates triggered by large-scale liquidations. This pattern suggests that while the current market environment appears grim, further declines in funding rates might signal a reversal, indicating that the market has reached a point of capitulation, often a precursor to a sustained recovery.

Despite this potential for a rebound, Bitcoin continues to face challenges in its upward momentum. The asset briefly reached $100,000 earlier today following a mixed US jobs report but quickly lost ground and was unable to sustain the recovery. As of writing, BTC is trading at $98,226, reflecting a modest 1.8% gain in the past day. Interestingly, while Bitcoin’s price was higher at this time last week, today’s trading volume surpasses last week’s levels, climbing from $34 billion last Friday to over $55 billion today.

As the market navigates this uncertain period, investors and traders will be closely monitoring Bitcoin’s price action and key metrics like funding rates to gauge the potential for a sustained recovery. While the current fear in the market may be a cause for concern, history suggests that such sentiment extremes could present opportunities for those who can spot the signs of a trend reversal.

Tags: Bitcoin, Binance, funding rates, market sentiment, price rebound, retail traders, trend reversal

Source: https://www.newsbtc.com/bitcoin-news/could-fear-fuel-bitcoin-comeback-analyst-spots-a-surprising-pattern/

Shiba Inu (SHIB), the popular meme coin, is currently facing significant bearish pressure as several key metrics, including burn rate and trading volume, have experienced notable declines. The broader crypto market correction, triggered by Bitcoin’s price drop below $100,000, has further contributed to the downward trend in SHIB’s price.

The recent 61% crash in Shiba Inu’s burn rate over a 72-hour period, coupled with the dip in trading volume below $400 million, suggests waning investor interest and potential for further price declines. While the burn rate has seen a short-term recovery, jumping by 470% in the last 24 hours, the overall trend remains bearish.

Technical indicators, such as Moving Averages (MAs) and the Relative Strength Index (RSI), also point towards a bearish outlook for SHIB. The MAs are currently in the red, while the RSI sits at a neutral level of 31%. On-chain data from IntoTheBlock further confirms the bearish sentiment, with 57% of Shiba Inu holders experiencing losses.

The ongoing trade war between the United States and several other countries has also contributed to the overall market volatility, affecting not only major cryptocurrencies but also meme coins like SHIB. As a result, Shiba Inu’s price has plummeted to new lows around $0.000015, driven by decreased investor confidence and bearish technical indicators.

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Investors and traders should closely monitor the market conditions and exercise caution when considering positions in Shiba Inu, as the current bearish trend may persist in the short term. However, the meme coin’s strong community support and potential for future developments could contribute to a recovery in the longer term.

Tags: Shiba Inu, SHIB, Crypto Market, Bearish Trend, Technical Analysis, Burn Rate, Trading Volume

Source: https://bitcoinist.com/shiba-inu-burn-rate-crashes-61/