Coin overview
ATH
Ended--
Last price (USDT)
301.74K
24h total (USDT)
1.14M
Total vol (USDT)
2024-06-05 08:00:00 ~ 2024-06-12 09:30:00
Trading time (UTC+0)
2024-06-13 04:00:00
Delivery time (UTC+0)
Total supply41.08B
Resources
Introduction
Aethir is the only Enterprise-grade AI-focused GPU-as-a-service provider in the market. It’s a decentralized cloud computing infrastructure that allows GPU providers (containers) to meet Enterprise clients who need powerful H100’s chips for professional AI/ML tasks. Aethir also support cloud gaming clients with their virtual computing phones and GPU's with contracts with the world’s largest telecommunication company. Everything within Aethir ecosystem will be decentralized and community-owned.
Jim Cramer Recommends Getting Bitcoin. Are We Waiting for a Decline?
Since early November, the cryptocurrency market has been on a tear, following the rising price of Bitcoin (BTC). Its price has risen by almost 30% in the last 50 days, and its return since the beginning of the year has amounted to 166%. Of course, its upward movement was not uniform, and each new jump was accompanied by a short-term pullback. Many leading analysts who were once skeptical of cryptocurrencies have now become bullish supporters, including infamous investor Jim Cramer, who said on November 22 that he would rather own the leading cryptocurrency than invest in its largest corporate holder, MicroStrategy. For those unfamiliar, former hedge fund manager and media personality Jim Cramer has a reputation for making spectacular mistakes. He has the uncanny ability to recommend an asset just before it crashes. The irony is that Cramer's endorsement now makes investors expect the worst. And after the latest episode of the show "Mad Money", in which Kramer mentioned Bitcoin in a conversation with a viewer, the financial newsletter The Kobeissi Letter account posted a video of the conversation and a chart showing the short-term drop in BTC price after the broadcast. Reactions to Cramer's Bitcoin Position. Source: The Kobeissi Letter Based on this, the crypto community has speculated that the Bitcoin bull rally is over. However, Cramer's words, fortunately, do not have a serious impact on the price of Bitcoin, which on the evening of November 22 again attempted to approach the $100,000 level, setting ATH about $99,600. EN @happycoinnews EN @happycoinnews_en
Popcat, MEW And MOG Prices Tumble As New Cat-Themed Meme Coin Catslap (SLAP) Soars 41%, Hits New ATH
Cat-themed meme coins Popcat, MEW and MOG are tumbling, but new feline money-maker Catslap ($SLAP) keeps hitting new all-time highs after surging 41% so far today. Catslap’s clicker-gamified slapper fun is taking crypto by storm as its Slapometer goes into overdrive – 1.9 million slaps and counting. The price of $SLAP hit an all-time high of $0.0029 earlier today and is currently trading at $0.0027. Predictions that the new meme coin could take out the $0.0030 level this weekend are very much in play. Catslap now has 1,560 token holders barely 48 hours since launch and a market cap of $23.8 million. Catslap launched at a market cap of $1 million. Catslap could be on the verge of exploding to an all-important market cap of $100 million, that will put the token onto the radars of centralized exchanges, including Tier 1 Binance, OKX, Coinbase and Robinhood. Catslap Token Is Audited, Has $1.9M In Locked Liquidity Catslap’s smart contract has now been audited by SolidProof and no critical issues have been found, so buyers can be rest assured on that score too. Also, Catslap token has locked liquidity for 60 days amounting to $1.9 million, so no worries about rug pulls here. It also been given a top score for reliability of 99/99 on DexTools . The clicks made by Catslap’s players are added up in a country-by-country total, adding to the global addictive and competitive fun. Of course, the huge momentum behind the meme coin sector in general, which has moved up a gear since pro-crypto Donald Trump’s election victory, is helping to stir up interest in the cat meme coin. For instance Dogecoin is flying right now, on rumors of the X platform rolling out a payments system that will include DOGE and maybe other crypto. The Elon Musk-backed meme coin is up 19.8% at $0.46, while Shiba Inu is up 9% and Pep 3.9%. Crypto experts think $SLAP price could 100x from here. Buy Catslap Now, Stake Your Tokens, Watch Your Profits Grow You can buy Catslap via the decentralized exchange (DEX) on the site, where staking is also on offer. Catslap buyers can stake as soon as they make their purchase. Stakers earn a generous 40% a year. There’s a minimum staking period of seven days. Stakers can withdraw their tokens early but must burn a portion of their tokens if they do. To turbocharge adoption and increase visibility, Catslap has partnered with the new crypto wallet Best Wallet , where the token can be bought easily in a secure and trusted environment. Visit the ‘Upcoming Tokens’ section in the app to make your purchase. Yesterday, Catslap was listed on the leading crypto data site CoinGecko, increasing its visibility in the market. A CoinMarketCap listing will undoubtedly follow shortly. Also helping the coin is the support of major crypto influencers. Alissa Zehra with 685k followers is right behind our littler purrer: AltcryptoGems with 447k followers wasn’t missing out on the cat strokes either, underlining the strong marketing that is the secret to the traction of successful meme coins: And here’s one more sporting a big cat friend of Catslap, courtesy of Ricardo Bossio with 1.4 million followers: Many more X posts are out in the cryptosphere, underscoring the virality that Catslap is building up. Catslap now has 7,200 followers across its social media – keep in touch with Catslap token news at X and Telegram . There are now 6,576 followers on X and 804 members of the Telegram channel, where token holders, and those getting ready to jump in, can see the buys flooding in via the bot posts : Although there are similarities to Popcat where a click elicits a pop, the similarities end there. Catslap has allocated 10% of its token supply to community rewards, which we can take as a strong hint that some sort of play-to-earn functionality is coming to Catslap . Perhaps that is what is behind the special announcement that is being made in 11 days’ time. It is all certainly adding to the FOMO, against the backdrop of a meme coin category valued at $127 billion according to CoinMarketCap. Popcat, which is now valued at $1.5 billion as the top cat feline meme coin, actually fell when it debuted in July 2023 as can be seen in the TradingView chart below of the SLAP/ETH pair, hosted at Dexscreener . Catslap is up 2,150% since launch on November 21. Will The Catslap Bull Run Eat A Decimal Point? If Catslap continues on its present trajectory then it could eat a decimal point, climbing from 0.0026 to 0.01. That would represent a 280% gain for those entering the market today. However, that could be a conservative prediction that doesn’t make allowances for the possibility of the Catslap price going parabolic over the next few days. Moonvember is here, so make sure you don’t miss out. In fact we are likely in the very early innings of the biggest crypto bull run ever. Visit Catslap Token website or Best Wallet to buy $SLAP.
Bitcoin’s $4.5B net outflows ignite bullish momentum, pushing prices toward $100K
IntoTheBlock’s data revealed a $4.5B exodus from exchanges in the last seven days. The data confirmed that whales were actively accumulating Bitcoin, as over 12% of the net outflow was attributed to large holders. The substantial outflow of Bitcoin from exchanges, as shown by the data, signaled a tailwind for Bitcoin’s price as it edged toward the 100K mark. The rising momentum for large BTC withdrawals from exchanges (+2.19%) indicated that large holders intended to reduce selling pressure and create a bullish environment for future price increases. Massive Bitcoin withdrawals from exchanges fuel BTC price surge The withdrawal of BTC worth $4.5 billion from exchanges in the last seven days implied that investors intend to hold BTC for the long term, anticipating a potential rise in price. The highest net outflow during the week (-$3.9B) was recorded on November 19th, when BTC broke above $93K to set a new ATH, as per Coingecko’s data. Whales (addresses holding over 1% of supply) and investors (addresses holding between 0.1%-1%) accounted for nearly 12% of the net outflow. Retailers (‘crabs’ and ‘shrimps’ with less than 0.1% of the circulating supply) were responsible for 88% of the net outflow. The BTC accumulation highlighted increased confidence and participation by BTC holders on all levels. See also Germany’s largest insurance company, Allianz, bought about 25% of MicroStrategy’s 2031 convertible notes The data showed that all BTC holders, including small retailers (100%), were ‘in the money’ at the current price of $99.27K. Reduced liquidity suggested a bullish price trend created by a potential BTC supply squeeze. Yahoo Finance confirmed that such an intense accumulation of BTC had not been seen since September when the current bull run began. According to the market intelligence platform, 52% of the BTC outflows from exchanges occurred during Western trading hours (10 AM to 10 PM UTC), while 48% occurred during Eastern trading hours (10 PM to 10 AM). Arkham’s data showed that Binance had the highest BTC outflow in the past week, followed by Coinbase, Revolut, Bitfinex, and Deribit. However, CryptoQuant’s data showed that the highest net outflow from exchanges this month was recorded on the 12th when 106.29K BTC worth ~$9.36B was transferred to wallets. Chris Wood advises Bitcoin HODLers as he hints at selling at $150K Christopher Wood, global head of equity strategy at Jefferies, announced his intention to sell his Bitcoin holding when the price reaches $150K (+53%). Wood said that $150K was a good price level at which to start making some profit. Wood emphasized that Bitcoin was not to be seen as a replacement for gold. Instead, Bitcoin was to be seen as a digital alternative to traditional assets. See also Former CFTC Chair Chris Giancarlo is Trump's top pick for Crypto Czar Wood stated that it was becoming increasingly risky to ignore crypto at this point. He mentioned the optimism surrounding Trump’s administration saying that it could champion BTC’s move into the mainstream. Wood said he initially invested in Bitcoin when prices were at the 22K range and he allocated 10% of his global portfolio for a U.S. dollar-denominated pension fund to Bitcoin. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Bitcoin Approaches $100K as Exchange Withdrawals Surge and Social Mentions Soar
As Bitcoin inches closer to its anticipated $100K milestone, a notable supply squeeze on exchanges sparks renewed investor interest. The rapid increase in Bitcoin withdrawals, totaling $6.37 billion recently, indicates a significant shift towards long-term holding strategies among investors. According to an analyst on social media, “With 65K BTC leaving exchanges, we can anticipate a bullish sentiment driving prices higher.” Bitcoin approaches $100K amidst record withdrawals from exchanges, signaling bullish market sentiment as investors shift to long-term holding strategies. Withdrawal Surge Drives Price Momentum for Bitcoin Recent data indicates that Bitcoin withdrawals from exchanges have reached staggering heights, with over $6.37 billion worth of BTC leaving these platforms in just 96 hours. This considerable outflow can often signal a tightening supply, which typically lays the groundwork for future price increases. Historically, such patterns are indicative of bullish trends, as investors move their assets to cold wallets, thereby reducing the available liquidity on exchanges. Historical Correlation Between Withdrawals and Price Movements In past market cycles, periods characterized by substantial exchange withdrawals have preceded significant price surges. Analysts suggest this current trend might foreshadow a similar pattern, especially given that Bitcoin has already touched an all-time high (ATH) value of $99K. As investor confidence grows, we could be witnessing the formation of an upward price trajectory, setting the stage for Bitcoin’s breakthrough past the crucial $100K mark. Source: X Increased Social Media Engagement Around Bitcoin’s Price Targets Analysis from COINOTAG reveals a notable spike in social media discussions regarding Bitcoin’s potential ascent to $100K. Data from Santiment shows that conversations on platforms such as X and Reddit have reached all-time highs. This rise in mentions is paralleled by a surge in new Bitcoin holders, reflecting a collective sentiment influenced by the fear of missing out (FOMO) that often accompanies bullish market conditions. Source: Santiment The Road Ahead for Bitcoin’s Valuation As Bitcoin approaches the pivotal mark of $100K, historical patterns suggest that the cryptocurrency’s price is poised for significant upward movement, particularly in light of decreased exchange reserves. While the excitement surrounding a potential breakout is palpable, caution remains warranted. Past trends indicate that periods of intense anxiety over missing out can also lead to sudden profit-taking, which could impact short-term price dynamics. Overall, if favorable market conditions persist, Bitcoin could not only surpass the $100K barrier but also establish new benchmarks in its valuation trajectory. Conclusion In summary, Bitcoin is navigating a critical juncture marked by enhanced exchange withdrawals and heightened social engagement. Combined, these factors illuminate a bullish landscape that may soon culminate in new historical highs. Investors should remain cognizant of both the potential rewards and risks of entering this evolving market, aiming to leverage data-driven strategies as they consider their next moves. In Case You Missed It: TRON's Recent Surge: Could Bullish Momentum Persist Above Key Resistance Levels?
Bitcoin Hits a New ATH $99.6K as Monthly Gains Exceed 40%
Bitcoin reached a new ATH of $99,655, with November gains at 40.8%. US spot Bitcoin ETFs added over $30B in inflows, led by BlackRock’s $2.05B purchase. Bitcoin (BTC) reached a new all-time high of $99,655.50, edging closer to the $100,000 mark. Although the price slightly dipped to $98,515 today, Bitcoin has posted its largest monthly gain ever, surging over 40.8% in November. This growth reflects increasing optimism in the broader crypto market. Over the past 15 hours, 1.38B $USDT has flowed from Tether to exchanges. The total global crypto market cap has risen to $3.35 trillion, with Bitcoin dominating at $1.95 trillion. Daily trading volume for Bitcoin reached $73.14 billion, while the entire crypto market traded $222.62 billion in the last 24 hours. Notably, US spot Bitcoin ETFs recorded cumulative inflows exceeding $30 billion, marking their largest weekly net inflow since launch. BlackRock alone added 21,304 BTC, worth $2.05 billion, to its holdings this week. The firm now holds 492,633 BTC, valued at $48.62 billion. Bitcoin’s technical chart indicates strong bullish momentum. The current support level lies at $85,216, while resistance at $99,000 is in focus. If BTC breaks above $99,000, it could reach $105,000 in the short term. Conversely, a breakdown below $85,000 may trigger a decline toward $80,000. The Relative Strength Index (RSI) is at 78.95, signaling overbought conditions. The RSI average at 80.88 further confirms Bitcoin’s current bullish trend. However, overbought signals suggest caution for potential profit-taking. The chart also highlights a bullish crossover of the 9-day and 21-day moving averages. This crossover indicates continued upward momentum, reinforcing the bullish outlook for Bitcoin. Broader Market Rally Bitcoin’s 60% rally since the US election day reflects strong investor confidence. The crypto market has gained over $800 billion since early November, benefiting from increased institutional interest. ETFs have experienced record inflows, with BlackRock driving the surge in demand. Despite the minor dip today, Bitcoin remains poised for further growth. If it crosses the $100,000 psychological barrier, it may attract additional institutional and retail investors. However, traders should monitor key levels and indicators to manage risks effectively. Highlighted Crypto News Today Crypto Exchange Binance Eyes Significant Compliance Team Expansion
$99,502 Bitcoin ATH Set, Analysts Expect $100,000 to Arrive Shortly with Sights Set on $200,000 and Above by the End of the Bull Cycle
Bitcoin set a new ATH at $99,502 and analysts expect $100,000 to arrive soon. BTC continues to beat expectations and set new precedents in the crypto arena. Analyst expects BTC price to hit highs above $200,000 by the end of the bull cycle. Bitcoin sets new ATHs once again consecutively. The first was set in the $98,000 price range earlier today and less than an hour ago, BTC set a new ATH at $99,502 , under $5000 away from the highly-anticipated $100,000. This 6-digit ATH price for BTV has been expected since the start of Q4 this year. $99,502 Set as Bitcoin’s Latest ATH As the bullish Q4 has resulted in about 7 core new Bitcoin (BTC) ATHs, the price of BTC continues to rise and the expectation for a bullish Q4 continues to grow at a rapid pace. According to CoinMarketCap analytics, the lowest price for BTC in the last 24 hours is in the $95,000 price range and the price of BTC now stands in the $99,000 price range. With Bitcoin constantly setting new ATHs many new traders and investors are debating over taking profits. To many seasoned traders, this is an unthinkable move as BTC price, according to them, has just started its bullish upward rally and is still set to hit many new ATHs in the 6-digit price range. $100,000 Within Rach as BTC Opens Path to $200,000 and Above People called me crazy when I said Bitcoin will hit $100,000 before the end of this year, now we only 1.5% away from it Enjoy the show you deserve it 🤝 — Doctor Profit 🇨🇭 (@DrProfitCrypto) November 21, 2024 In the eyes of one popular crypto analyst, Doctor Profit , a seasoned trader known for his silver-tongued accurate predictions, says BTC is preparing for highs that may seem hard to comprehend. As we can see from the post above he is certain that $100,000 will be met before the end of 2024 and in November we have almost hit this target. In 2020 I said BTC will go to 70k In 2021 BTC hit 68k, I said its the top In 2021 at 68k, I said 18k is loading In 2022 at 18k, I said go all in, buy hard In 2023, said a new ATH is loading for 2024 Now I tell you targets above 200k are loading — Doctor Profit 🇨🇭 (@DrProfitCrypto) November 21, 2024 The same analyst also goes on to highlight his many accurate predictions so far. As we can see from the post below, Doctor Profit has predicted over 5 predictions for BTC prices accurately. He now says that targets above the $200,000 price mark is a highly plausible event for BTC this bull cycle. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Cardano's ADA Hits Highest Level Since May 2022 as Bitcoin Nears $100K and Capital Rotates into Alternative Cryptocurrencies
Cardano's ADA has reached its highest level since May 2022, with evidence of significant participation from large traders in the on-chain activity. As Bitcoin approaches the $100,000 mark for the first time, capital is shifting towards alternative cryptocurrencies, generating excitement in the wider crypto market. Additionally, Bitcoin has broken a new record above $98,000, and there are reports that former US President Donald Trump is considering appointing a "Crypto Czar" and a crypto lawyer for SEC Chair. BlackRock's IBIT options launch has also contributed to Bitcoin's new ATH.
Solana (SOL) Nears Previous All-Time High Amid Weaker Trend Signals and Potential Support Tests
Solana (SOL) is on the cusp of hitting a new all-time high (ATH) as it rallies close to its previous price peak, highlighting bullish market sentiments. While the recent surge has propelled SOL up by nearly 17% over the past week, indicators show that momentum may be beginning to fade. “With current market conditions, SOL’s momentum has shown signs of easing,” said a source from COINOTAG, emphasizing the need for cautious optimism. Explore how Solana is nearing a new ATH, the implications of current trends, and what the indicators reveal about its future momentum. Solana’s Rally: Proximity to New ATH The recent performance of Solana (SOL) has captivated investors as it approaches within 3% of its historical peak. After a 16.96% increase over the last week, sentiment in the market remains bullish. This surge reflects increasing adoption and integration of Solana’s blockchain technology across multiple sectors. However, technical indicators are starting to raise flags. For instance, while the positive trend is notable, caution arises as market participants observe the performance of key indicators such as BBTrend and the Average Directional Index (ADX), which may signal a cooling of momentum. Understanding BBTrend as a Measure of Direction The current BBTrend value stands at 9.56, which indicates a maintained positive trend for Solana since mid-November. Despite this, it is crucial to note that the trend value has decreased from a monthly peak of 18.64 earlier this month. This decline suggests that the pace of price increases may be slowing down, potentially setting the stage for consolidative movements. Source: TradingView Interpreting BBTrend calls attention to the fluctuations in the market; while values above zero typically indicate a strengthening trend, the recent drop suggests buyers might be losing enthusiasm. Should this trend continue, it raises the possibility of a price retracement before another significant rise. The Weaker ADX: A Sign of Caution? Further analysis through the DMI reveals that SOL’s ADX is currently at 20.71, a notable decrease signaling the weakening of a once vigorous uptrend. ADX values over 25 are recognized as indicating strong trending conditions, while those below 20 suggest a market without a clear direction. Source: TradingView Although the positive directional index (D+) holds at 27.5 against a negative directional index (D-) of 13.8, indicating that bullish activity still outweighs bearish, the weakening ADX points to a potential slowdown in upward momentum. To foster a sustainable rally, SOL would need an ADX rebound to push beyond the critical 25 threshold. Can Solana Reach a New All-Time High Soon? As SOL trades nearly 3% away from its prior ATH, there is an optimistic outlook that this resistance level at $260 could soon be breached. Achieving this could unlock new price targets of $265 and $270, which may further entice bullish investors. Source: TradingView Nevertheless, traders should remain vigilant as the rekindling of a downtrend could test significant support levels at $204 and $194. A failure to maintain these supports might lead to a more considerable correction, pushing prices as low as $154. Conclusion In summary, while Solana’s strong performance piques interest as it nears its all-time high, the indicators suggest a cautious stance. The market’s current momentum appears to be losing strength, and potential resistance levels need close monitoring. Investors should prepare for possible volatility, keeping a close eye on bullish and bearish pressures that may shape SOL’s immediate future. In Case You Missed It: Exploring Worldcoin's Biometric Data Challenges and the Potential of ZK-FHE for Enhanced Privacy Solutions
Raoul Pal Says Solana (SOL) Rally Far from Over Following New ATH, ETF Filings
Crypto investor Raoul Pal has shared a bullish outlook for Solana (SOL), suggesting the altcoin could see further gains despite recently reaching a new all-time high. His prediction coincides with two new ETF filings featuring SOL, which could increase the cryptocurrency’s demand and visibility in mainstream markets. For investors, this forecast aligns with Solana’s expanding ecosystem and growth. The key question remains: How high can SOL rise before hitting the ceiling of this bull cycle? Pal Expects Solana to Continue Climbing Pal’s comment after SOL’s price climbed above its previous peak of $260. According to the investor, who is also the founder of Real Vision, a crypto education platform, the rally is far from over, suggesting that the recent hike could be the start of another incredible run. “SOL — been quite the ride so far from the low to new all time highs. Plenty more to go,” Pal shared on X. Furthermore, this Raoul Pal Solana prediction might not surprise market observers. Since the FTX collapse in 2022, Pal has consistently argued that Solana was undervalued, especially after it plunged to as low as $8. What makes this forecast even more intriguing is its timing. It coincides with two notable developments in the institutional space: asset management giants VanEck and 21Shares filing for Solana-based ETFs. These filings signify the growing institutional interest in Solana, potentially driving demand and reinforcing the bullish sentiment around its price potential. Besides institutional developments, retail investors are also contributing to Solana’s growing momentum. According to Token Terminal, Solana’s monthly active users have seen a significant increase, reaching 134.60 million. Solana Monthly Active Addresses. Source: Token Terminal This uptick reflects a rise in the number of addresses actively transacting with SOL, suggesting a broad-based interest in the ecosystem. Such sustained growth in active users typically suggests healthy network activity and adoption — both of which are bullish indicators for the altcoin’s long-term outlook. SOL Price Prediction: $300 Looks Feasible On the daily chart, Solana’s price, currently at $258.81, rallied due to the formation of an inverse head-and-shoulders pattern. An inverse head and shoulders is a bullish chart pattern indicating a potential reversal from a downtrend to an uptrend Furthermore, a neckline connects the highs of the two troughs and serves as a key resistance level. When the price breaks above this neckline, it confirms the reversal, often accompanied by increased volume. Solana Daily Analysis. Source: TradingView As seen below, SOL’s price has broken out of the pattern. Should buying pressure increase, the altcoin could climb as high as $300 in the short term. However, a breakdown below the $235.91 support could invalidate the thesis. In that scenario, the cryptocurrency could decline to $215.21.
Solana hits new ATH, BUT will it be THE LAST this November?
Solana (SOL) has soared today to a new all-time high (ATH) above $260, marking a remarkable comeback from its 2022 lows of $8. It confirms the prediction of the November ATH records that were previously discussed . This SOL price surge is fueled by renewed optimism around a potential Solana-based spot ETF, shifting regulatory dynamics, and increasing institutional interest. As the factors keep on evolving and optimism grows, will today Solana ATH be its last this November? By TradingView - SOLUSD_2024-11-22 (5Y) November Repeats Itself as Solana Hits New ATH Solana's price reached an ATH of $265, surpassing its previous record, marking a new one, 3 years apart from the one set in November 2021 . This represents an extraordinary recovery, with the token climbing more than 32 times from its December 2022 low of $8. Currently, SOL is up 360% year-over-year and 27% on a weekly basis, making it one of the top-performing cryptocurrencies in recent months . This surge coincides with a wave of bullish sentiment across the crypto market, with Bitcoin nearing the $100,000 milestone and Ethereum also showing positive momentum. Solana, now the fourth-largest cryptocurrency by market cap , continues to capture investor attention. By TradingView - SOLUSD_2024-11-22 (1D) Regulatory Changes Impact on Solana's Growth A key factor behind Solana's meteoric rise is the shifting regulatory environment in the United States. The announcement of SEC Chairman Gary Gensler's resignation , effective January 20, 2025, has sparked optimism among crypto enthusiasts. Known for his stringent regulatory approach, Gensler’s departure signals a potential shift towards more crypto-friendly policies under President-elect Donald Trump’s administration. This political change has revived hopes for a U.S.-based Solana spot ETF . Fox News reports indicate that the SEC is actively engaging in discussions with asset managers, including VanEck, 21Shares, Canary Capital, and Bitwise, to explore the possibility of approving a Solana ETF. While the likelihood of approval in 2024 remains low, the evolving regulatory landscape increases the chances of approval by 2025. Solana’s Role in the Emerging ETF Market The buzz around a potential Solana ETF is further amplified by ongoing discussions between the SEC and exchanges preparing 19b4 filings. These filings are a critical step for ETF approval, and their submission indicates a growing commitment from institutional players. With only Bitcoin and Ethereum spot ETFs currently approved in the U.S., Solana could be the next major cryptocurrency to join this exclusive group . The approval of a Solana ETF would not only validate its technological capabilities but also drive further adoption by institutional investors and potentially make it climb another rank by market cap to be officially the 3rd largest cryptocurrency, surpassing Tether (USDT), missing only $7 billion to date, easily within reach. Institutional Interest and DeFi Momentum Boost Solana Beyond regulatory shifts, Solana’s growth is supported by a resurgence in decentralized finance (DeFi) activity and meme coin trading on its platform. These use cases highlight the blockchain’s scalability and efficiency, which continue to attract developers and investors alike. Additionally, the possibility of Solana outpacing Ethereum in market capitalization has gained traction among enthusiasts. As more decentralized applications (dApps) and projects leverage Solana’s high-speed infrastructure, the blockchain’s ecosystem continues to expand. By TradingView - SOLUSD_2024-11-22 (YTD) Solana’s ascent to new ATHs is a testament to its resilience and growing influence in the crypto space. With favorable regulatory changes on the horizon, increasing institutional interest, and a robust ecosystem, Solana is well-positioned for further growth . As the market anticipates the approval of a Solana ETF, the token could solidify its position as a leading cryptocurrency.
SOL Leads The Altcoins Pack: Hits A New ATH After 2 Years
SOL breaks its all-time high after two years and is eying the next milestone of $300. Solana takes the lead among the alternative coins with its steady increase in prices. Meme coins based on the Solana blockchain, like PNUT & BONK, gain a massive boost in value. Despite Bitcoin being just a few steps away from $100K, altcoins are showing that they are no lesser than BTC through their price movements. Among the altcoins, SOL takes the lead, breaking its ATH after two years and trading at a price of $263. The steady rise of SOL makes it a leader within the altcoin pack, especially in the current bullish market trend. Furthermore, meme coins are also experiencing massive growth, especially those based on the SOL blockchain. At the time of writing, Solana was exchanging hands at a price of $259, with an 8.75% increase in one day and over 23.79% in a week. Furthermore, Solana’s market cap also reached a new ATH. The rise of SOL over ETH and other coins is mainly due to the improvement in its blockchain and the price increase of Solana-based meme coins. Solana-based meme coins like PNUT, BONK, and WIF have experienced massive growth in prices. As per the data from CoinMarketCap, dogwifhat has increased by 36.83%, Bonk has risen by 131%, and Peanut the Squirrel has climbed by more than 2300% this month. This illustrates the meme coin frenzy happening on the Solana blockchain. According to the SOL liquidity map, there are more long leverages than short leverages. The amount of long liquidation leverage at $233.6 is $719.54M, and on the other hand, the amount of short liquidation leverage at $290.2 is $224.22M. The strong long positions, along with the bullish momentum and breaking a new ATH, all point towards an increase in SOL’s price movement. As Solana has already broken its all-time record, the next possible milestone is breaking through $300. The Relative Strength Index (RSI) is at 78, which points towards overbought, and the Moving Average Convergence Divergence (MACD) is trading atop the signal line, which denotes bullish momentum. Furthermore, other technical indicators also denote a bullish trend for SOL with the possibility of SOL crossing the major resistance zone of $300. The post SOL Leads The Altcoins Pack: Hits A New ATH After 2 Years appeared first on CryptoTale.
As Bitcoin Races From Record to Record, What's the Latest on Spot Bitcoin and Ethereum ETFs? Here's the Latest Data…
The leading cryptocurrency Bitcoin broke records with an early morning rise and rose above $97,000. Related News New ATH in Bitcoin, Very Close to $100K! Here is the New Record and What You Need to Know! This rise in Bitcoin, which has continued in recent days, was also reflected in spot Bitcoin ETFs, and there was a net inflow of $773 million yesterday. According to data from Farside Investors, on November 20, spot Bitcoin ETFs saw total net inflows of $773 million. BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the way with $626 million, followed by Fidelity’s FBTC with $133 million. While Bitwise’s BITB saw small inflows of $9.2 million and Ark Invest’s ARKB of $3.8 million, other ETFs experienced zero inflows. Along with Bitcoin’s new ATH, the total net asset value of US spot Bitcoin ETFs also surpassed $100 billion on Wednesday, representing about 5.4% of the entire Bitcoin market cap. BlackRock’s IBIT has $45.4 billion in net assets, while Grayscale’s GBTC has $20.6 billion in net assets, making them the two largest spot Bitcoin ETFs. Unlike Bitcoin ETFs, spot Ethereum ETFs experienced an outflow, with a net outflow of $30.3 million from ETH ETFs on November 20. While BlackRock iShares Ethereum Trust ETF saw an inflow of $16.7 million, Fidelity's FETH fund saw an outflow of $30.7 million. The Grayscale Ethereum Trust ETF also saw an outflow of $16.3 million, while other ETFs recorded zero inflows. Bitcoin continues to trade at $97,540, up 4.5% in the last 24 hours. *This is not investment advice.
Solana Soars to New All-Time High as SEC Chairman Gensler Announces Resignation
On Friday, Solana (SOL) soared to a new all-time high (ATH), now trading at approximately $261. This breakthrough surpasses its previous peak set in November 2021. Solana’s rise to a new ATH marks an increase of over 32 times from its lows recorded in December 2022. Solana Hits All-Time High as Gary Gensler Plans Resignation Solana’s path to this new high has been anything but smooth. After reaching its previous high in 2021, the platform faced a downturn in 2022 amid a broader crypto bear market, further exacerbated by technical issues and network downtimes. The collapse of FTX in November 2022 pushed Solana’s price down to around $8. Solana Price Performance. Source: BeInCrypto However, Solana has since made a remarkable recovery, increasing more than 32-fold from its low. Now, Solana enthusiasts believe that SOL could eventually outpace Ethereum (ETH) in market capitalization. “Solana has been at an all-time high by market cap for a while actually. Now, we’re finally in price discovery. The flippening is coming,” Birch, the founder of PathCrypto, said. The surge in Solana’s market value coincides with the news of SEC Chairman Gary Gensler’s planned resignation, slated for January 20, 2025, as Donald Trump assumes office. Known for his strict regulatory stance on cryptocurrencies, Gensler’s departure signals a potential shift toward a more crypto-friendly administration. Consequently, this political change is stoking speculations about the approval of a Solana exchange-traded fund (ETF). According to Fox Business journalist Eleanor Terrett, the SEC has begun engaging with issuers to explore the possibility of a Solana ETF. “Talks between SEC staff and issuers looking to launch a Solana spot ETF are “progressing” with the SEC now engaging on S-1 applications. Recent engagement from staff, coupled with the incoming pro-crypto administration, is sparking a renewed sense of optimism that a Solana ETF could be approved sometime in 2025,” Terrett claimed. Previous efforts to launch a Solana ETF were stalled by regulatory roadblocks, often stopping early in the process. However, the changing political environment and the SEC’s increased openness have reignited hopes within the crypto community. Recent filings for a Solana ETF by Canary Capital and BitWise reflect a growing interest and anticipation for regulatory approval. Despite these encouraging developments, the odds of a Solana ETF approval in 2024 remain low, with Polymarket estimates placing it at around 4%. Odds of Solana ETF Approval in 2024. Source: Polymarket Meanwhile, the crypto community is also closely watching Bitcoin as it approaches the highly anticipated $100,000 mark. On Friday, Bitcoin recorded a new high of about $99,300. This milestone is viewed as a pivotal moment for Bitcoin and could impact other cryptocurrencies, including Solana.
Is Bitcoin Ready to Hit 100K After Reaching a New ATH 99.3K?
Bitcoin reached $99,000, nearing the $100K milestone with a 4.4% daily surge. President-elect Trump’s pro-crypto stance fuels market optimism. Bitcoin (BTC) reached a new milestone, breaking $99.3K for the first time, with a 24-hour increase of 4.4%. Its market cap climbed to $1.96 trillion, representing 59.2% of the global crypto market cap, which surged to $3.31 trillion. Trading volume also jumped by 31.25% in the past day, totaling $103 billion. The rally extends beyond Bitcoin. Ethereum (ETH) and Solana (SOL) surged by 9% and 12%, respectively, while XRP soared by 25%. Whales have been actively accumulating BTC, with one whale adding 3,577 BTC ($330 million) in the past four days, bringing their total holdings to 25,298 BTC ($2.5 billion). Spot Bitcoin ETFs recorded $396.56 million in inflows on November 21, marking a fourth consecutive day of increases. The total value of options for BlackRock’s ETF on its first day reached $1.9 billion. Experts link these inflows to Bitcoin’s price momentum. Additionally, U.S. Bitcoin ETFs surpassed $100 billion in total assets held, with $773 million in net inflows on Wednesday alone. MicroStrategy added $4.6 billion worth of BTC to its holdings last week, reinforcing institutional demand. President-elect Trump’s pro-crypto stance and nomination of Howard Lutnick as commerce secretary have also strengthened market confidence. CME Bitcoin futures open interest reached record highs this week. Investors are buying long-term call options, signaling confidence in Bitcoin’s future. The easing of global monetary policies is also enhancing Bitcoin’s appeal as an inflation hedge. These factors support Bitcoin’s price trajectory, keeping it firmly above $98,000. Technical Upward Potential Bitcoin’s technical indicators point to bullish momentum. The RSI is at 82.36, indicating overbought conditions but signaling sustained demand. The RSI average of 78.47 supports this upward trajectory. The moving averages (9-day at $92,619 and 21-day at $83,865) indicate strong support levels, with a bullish crossover confirming the trend. Key support levels lie at $92,000 and $83,000, while resistance stands at $99,314. If Bitcoin breaks above this, it could challenge $100,000 in the near term. The market’s strength suggests further growth, barring unforeseen corrections. However, experts like Mike Novogratz caution that a price correction remains possible. Investors are also monitoring potential impacts of Trump’s proposed economic policies, including inflation risks and Fed responses. As Bitcoin inches closer to $100,000, its role as a digital asset continues to expand. Highlighted Crypto News Today Gary Gensler to Resign as US SEC Chair in January 2025
Can Mog Coin Sustain Its 20% Surge and Break Its ATH?
Mog Coin surges 20%, nearing all-time high amid speculative market trends. Memecoin market is driven by community support and social media influence. Mog Coin (MOG), a cryptocurrency that has gained attention within the meme coin space, is currently trading at $0.000002841, marking an impressive 20% surge in the past 24 hours. This significant uptick has drawn interest from traders, as the coin nears its all-time high (ATH) of $0.00000298, reached just six days ago. The recent surge in Mog Coin’s price highlights its potential for volatility within the cryptocurrency market. Meme coins, such as Mog Coin, have often been influenced by market sentiment, social media buzz, and community-driven enthusiasm. As retail investors continue to show interest in these assets, positive market conditions have contributed to the upward momentum in Mog Coin’s value. Moreover, this surge also reflects the broader trend in the market. The altcoins surged based on Bitcoin hitting new heights above $99K. Community engagement and influencer endorsements play a significant role in driving interest and demand to sharp price movements in short periods. The recent 20% increase in Mog Coin’s price comes on the back of a strong support base. It is with notable social media discussions on platforms like Twitter and Telegram spurring renewed buying activity. Can MOG Bulls Sustain Momentum? While the surge in the past 24 hours is impressive, analysts warn the coin is still subject to the inherent volatility characteristic of the meme coin market. The price of Mog Coin had peaked at $0.00000298 six days ago, only to experience fluctuations since then. Amid these factors, MOG’s technical indicators point to key support levels around $0.000001985. Analysts suggest that political events may influence bullish sentiment, with the first resistance at $0.000003102. Notably, the daily RSI is at 63, indicating a nearly overbought situation. As Mog Coin approaches its ATH again, it remains to be seen whether the coin will continue its upward trajectory. Or if the rally will lose steam. Crypto traders are closely watching the price action in the coming days. Highlighted News Of The Day Trump’s Media Group Explores Crypto Payment Services with TruthFi
Dormant Ethereum Whale Offloads 73,000 ETH, as Ethereum Struggles to Break $3,500
A dormant Ethereum whale has resurfaced, sparking intrigue as the price of the world’s largest altcoin rallies amidst a broader market surge. According to Lookonchain, this whale amassed 398,889 ETH – worth $2.4 million at the time – between January 18 and March 10, 2016, at an average price of just $6 per ether. The wallet had remained inactive for over eight years until November 7, 2024, when it began offloading its holdings. So far, the whale has sold 73,356 ETH, which is currently valued at $224.42 million. Following the sale, its stash has reduced to 325,533 ETH, still worth a staggering $1.1 billion. The whale’s reactivation has fueled speculation about its motives and the potential impact of such significant sell-offs on Ethereum’s price. Ethereum’s Underwhelming Rally Despite Ethereum’s impressive 30% surge over the past month, the price has struggled to break through the crucial $3,500 mark, significantly below its all-time high above $4,800 set in 2021. This lack of momentum has likely contributed to the whale’s decision to sell, signaling a loss of confidence in ETH’s short-term potential for further price appreciation. With Ethereum remaining well below its peak, the whale’s actions suggest skepticism about a strong uptrend, leading to the strategic liquidation of a substantial portion of its holdings. Meanwhile, CryptoQuant’s latest report signals “unstoppable bullish momentum” in the Ethereum derivatives market. Data suggest that ETH’s open interest blew past its previous all-time high, now exceeding $13 billion – a 40% increase in just the past four months. This surge in open interest reflects growing participation in Ethereum’s derivatives market. The funding rates are currently moderately positive, which indicates that long-position traders dominate. This suggests a market sentiment favoring an uptrend in the short term. Additionally, Ethereum’s estimated leverage ratio has reached a new all-time high of over 0.40, indicating a rise in leveraged positions as investors engage in more risk-taking within the derivatives space. Ethereum Rival Solana Hits ATH Ethereum rival Solana (SOL) reached a new all-time high of $263 on November 22nd, surpassing its previous peak over three years ago. The token’s journey was tumultuous, especially after the collapse of the FTX exchange, which caused SOL’s price to drop sharply to single digits in late 2022. A slow 2023 followed, complicated by the SEC’s assertion that SOL was a security, which raised regulatory concerns. However, following an explosive growth phase, Solana has made a remarkable comeback, setting a new price record.
Over 92.3% Price Pump Await FLOKI Holders as the Memecoin Turned Altcoin Shows Strong Bullish Indicators
Bitcoin’s latest ATH in the $97,000 price range fuels market sentiment. Popular altcoins show bullish pump indicators for altseason. FLOKI hits at gains over 92.3% in the coming weeks ahead. Bitcoin (BTC) has achieved a remarkable new all-time high (ATH) of $97,862.64 , climbing from $73,000 to the $97,000 price range in less than 20 days. This milestone leaves Bitcoin just shy of the much-anticipated six-figure mark of $100,000, further fueling optimism in the cryptocurrency market. Bitcoin Rally Boosts Bullish Altseason Sentiment According to CoinMarketCap analytics, Bitcoin’s price has surged by 44%, over the past month. The Crypto Fear & Greed Index reflects a score of 82, signaling ‘Extreme Greed’ and suggesting more potential price surges for Bitcoin and altcoins alike. The fourth quarter has been overwhelmingly bullish for the crypto market, delivering on analysts’ expectations for Bitcoin to hit new ATHs. Thus, with over a month remaining in Q4, projections for a $150,000 ATH by year-end are gaining traction. At the same time, optimism for an altseason is building, as altcoins begin to show significant price increases. To highlight, analysts anticipate the first quarter of 2025 could mark the official start of altseason. Altcoin FLOKI Hints at Over 90% Surge Ahead To support this inevitable rally, many altcoins are already nearing their previous ATHs, signaling strong market momentum. This bullish trend indicates a likely surge in altcoin prices, setting the stage for new ATHs in early 2025, similar to Bitcoin’s performance this quarter. One altcoin stealing the spotlight today in FLOKI . $FLOKI (Floki Inu) has crossed back above the $0.0002761498 level and now has the $0.0005467298 target in play! This means that prices could be set here for an additional +92.3% move… https://t.co/4fgkP5kuhU pic.twitter.com/QG3TtRw5K9 — JAVON⚡️MARKS (@JavonTM1) November 21, 2024 As we can see from the post above, the analyst shares a bullish price chart stating that Floki Inu (FLOKI) has crossed back above the $0.0002761498 level and is now moving towards the $0.0005467298 price target. He suggests that FLOKI prices could be set here for an additional +92.3% move. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Glassnode: Who is Leading the $629 Billion Capital Inflow into the Crypto Market?
Original Article Title: Riding the Liquidity Tide Original Article Authors: CryptoVizArt, UkuriaOC, Glassnode Original Article Translation: Baishui, Golden Finance Abstract · Strong capital inflows from ETFs and the spot market drove Bitcoin to rise to $93,000. Over the past 30 days, over $62.9 billion entered the market, with BTC dominating the inflows. · The increase in unrealized profits by long-term holders triggered large-scale spending activity, with 128,000 bitcoins sold between October 8 and November 13. · U.S. spot ETFs played a key role, absorbing about 90% of the selling pressure from long-term holders during the analysis period. This highlights the increasing importance of ETFs in maintaining liquidity and market stability. Surge in Capital Inflows Since early November, Bitcoin has shown outstanding price performance, continually setting new ATHs throughout the month. When comparing the price performance of the current cycle with the 2015-2018 period (blue) and the 2018-2022 period (green), astonishing sustained similarity can be seen. Despite significant differences in market conditions, the magnitude and duration of the rebound are remarkably consistent. This cross-cycle long-term consistency remains very intriguing, providing insights into Bitcoin's macro price behavior and cyclical market structure. Historically, past bull markets have lasted between 4 to 11 months from the current point, providing a historical framework for assessing cycle duration and momentum. This week, a new ATH was set at $93,200, bringing Bitcoin's quarterly performance to an impressive +61.3%. This is an order of magnitude higher than the relative performance of gold and silver, which saw quarterly gains of +5.3% and +8.0%, respectively. This stark contrast indicates that capital may be shifting from traditional value assets like commodities to Bitcoin, a younger, emerging, and digital asset. Bitcoin's market capitalization has also expanded to a staggering $1.796 trillion, making it the seventh-largest global asset. This places Bitcoin above two symbolically significant global assets: silver valued at $1.763 trillion and Saudi Aramco valued at $1.791 trillion. So far, Bitcoin is only 20% behind Amazon, making it the next important milestone in its journey to becoming one of the world's most valuable assets. After Bitcoin's impressive performance in the last 90 days, the wider digital asset market has started to see a significant inflow of funds. In the past 30 days, a total of $62.9 billion has flowed in, with $53.3 billion absorbed by the Bitcoin and Ethereum networks, and stablecoin supply increasing by $9.6 billion. This is the highest level since the peak in March 2024, reflecting renewed confidence post the U.S. presidential election and new demand. Expanding observed capital inflows, the majority of the $9.7 billion stablecoins minted in the last 30 days have been directly deployed to centralized exchanges. This inflow is closely tied to the overall movement of stablecoin assets during the same period, highlighting its key role in driving market activity. The surge in exchange stablecoin balances reflects investors' strong speculative demand to ride the trend, further reinforcing the bullish narrative and post-election momentum. Examining Investor Profitability So far, we have explored the trend of increasing market liquidity, supporting Bitcoin's outstanding performance. In the next section, we will utilize the MVRV ratio to assess how this price action affects market investors' unrealized profitability (paper gains). Comparing the current value of the MVRV ratio (orange) with its annual moving average (blue), we can see the accelerated growth in investor profitability. This phenomenon is typically supportive of continued market momentum but also creates conditions where investors are more likely to start taking profits to realize their paper gains. As market investors' profitability increases, the potential for new selling pressure grows. By overlaying the MVRV ratio with ±1 standard deviation bands, we can construct a framework to evaluate overheated and underheated market conditions. · Overheated (Warm colors): MVRV trades above +1SD · Underheated (Cool colors): MVRV trades below -1SD The price of Bitcoin recently broke above the +1σ range, reaching $89,500. This indicates that investors currently hold a statistically significant unrealized profit, suggesting an increased likelihood of profit-taking activity. However, historically, the market has stayed in this overheated state for extended periods, especially when there is sufficient capital inflow to absorb selling pressure. Extreme Long-Term Holder Spending During the market cycle's euphoric phase, the behavior of long-term investors becomes crucial. LTHs control a significant portion of the supply, and their spending dynamics can greatly influence market stability, eventually forming local and global tops. We can use the NUPL indicator to assess the realized profits held by LTHs, which is currently at 0.72, slightly below the threshold of 0.75 signaling from Belief (green) to Euphoria (blue). Despite a significant price increase, compared to previous cycle tops, the sentiment of these investors remains relatively low, indicating there may still be further room for growth. As Bitcoin surpassed $75,600, long-term holders with 14 million Bitcoin fully transitioned into profit, prompting an accelerated spending. Since the ATH breakout, this has led to a balance decrease of +200k BTC. This is a classic and recurring pattern where, as long as the price trend is strong and demand is sufficient to absorb profits, long-term holders begin to take profits. Because LTHs still hold a significant amount of Bitcoin, many of them are likely waiting for higher prices before releasing more Bitcoin back into circulation. We can use the Long-Term Holder Spending Binary Index to assess the strength of LTHs' selling pressure. This tool evaluates the percentage of days in the past two weeks when group spending exceeded its accumulation, leading to a net decrease in their holdings. Since early September, as Bitcoin's price has risen, long-term holder spending has steadily increased. With the recent surge to $93,000, this index has reached a value indicating that out of the past 15 days, 11 days saw a decline in LTH balances. This highlights the growing distribution pressure from long-term holders, although it has not yet reached the levels observed around the peaks in March 2021 and March 2024. After identifying the spending behavior of long-term holders (LTH) in an uptrend, we can turn to the next tool to delve deeper into their activity around key market points. The interplay between profit-taking and unrealized gains helps highlight their role in shaping cycle transitions. This chart visually displays: · LTH Realized Price (blue): The average acquisition price of long-term holders. · Profit/Loss Price Range (blue): Represents the range of extreme profits (+150%, +350%) and losses (-25%), which typically trigger significant spending activity. · Profit-Taking (green): Phase where long-term holders hold over 350% profit and increase spending. · Sell-Off (red): Phase where long-term holders are in a -25%+ loss state with high spending. Bitcoin's price has surged to over a 350% profit range (around $87,000), prompting significant profit-taking behavior by this group. As the market rallies, distribution pressure may increase, and these unrealized gains will also expand accordingly. This historically marks the onset of the most extreme phase of the previous bull market, with unrealized gains surging to over 800% in the 2021 cycle. Institutional Buyers Now, let's shift our focus to the role of institutional buyers in the market, particularly through the U.S. spot ETF. In recent weeks, ETFs have been a primary source of demand, absorbing most of the selling pressure from LTH. This dynamic also underscores the growing influence of institutional demand in shaping the modern Bitcoin market structure. Since mid-October, weekly ETF inflows have surged to between $1 billion and $2 billion per week. This represents a significant rise in institutional demand and is one of the most pronounced periods of fund inflows to date. To visualize the balance of LTH sell pressure and ETF demand, we can analyze the 30-day changes in Bitcoin balances for each group. The chart below shows that from October 8 to November 13, ETFs absorbed around 128,000 BTC, accounting for 93% of the 137,000 BTC net sell pressure exerted by LTH. This highlights the critical role of ETFs in stabilizing the market during periods of increased selling activity. However, since November 13, LTH selling pressure has started to exceed ETF net inflows, which echoes a pattern observed in late February 2024, when supply-demand imbalance led to increased market volatility and consolidation. Summary Bitcoin's rise to $93,000 has been supported by strong capital inflows, with approximately $62.9 billion in capital flowing into the digital asset space in the past 30 days. This demand has been driven by institutional investors led by the US spot ETF, even as capital flows out of gold and silver. ETFs have played a crucial role, absorbing over 90% of long-term holder selling pressure. However, as unrealized profits reach more extreme levels, we can expect LTH spending to increase, with its inflow surpassing ETF inflows in the short term. Original Article Link
Solana (SOL) Price Nears All-Time High as Uptrend Continues
Solana (SOL) price has surged 16.96% in the last seven days and is now very close to reaching a new all-time high. The recent rally has positioned SOL just under 3% from its previous ATH, signaling strong bullish sentiment in the market. However, indicators like BBTrend and ADX suggest that the current uptrend is losing some momentum, raising caution for potential consolidation or a pullback. SOL BBTrend Is Still Positive Solana currently has a BBTrend of 9.56, marking a sustained positive trend since November 18. While it remains in bullish territory, the value is down from its monthly high of 18.64 on November 10, indicating a decline in trend strength. This suggests that while SOL is still in an uptrend, the momentum behind its recent price movements may be weakening. SOL BBTrend. Source: TradingView BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values signaling an uptrend and negative values indicating a downtrend. At 9.56, SOL’s BBTrend reflects a moderate bullish sentiment, though it is far weaker compared to earlier in the month. This could mean the current uptrend is stabilizing, leaving SOL vulnerable to consolidation or a potential reversal if buying pressure diminishes further. Solana Current Uptrend Isn’t as Strong as It Was Solana (SOL)’s DMI chart shows its ADX at 20.71, indicating a weaker trend than earlier in the month when it was above 50. The ADX measures the strength of a trend, regardless of its direction, with values above 25 indicating a strong trend and below 20 indicating a weak or nonexistent trend. The current value suggests that SOL’s trend has significantly weakened, reflecting reduced momentum after its earlier surge. SOL DMI. Source: TradingView With the positive directional index (D+) at 27.5 and the negative directional index (D-) at 13.8, bullish pressure continues to outweigh bearish activity. However, the weak ADX indicates that this bullish momentum lacks the strength to sustain significant upward movement. For SOL price to regain a strong uptrend, the ADX would need to rise above 25. SOL Price Prediction: A New All-Time High Soon? SOL price is currently less than 3% from its previous all-time high (ATH). If Solana maintains its current uptrend, it is positioned to rise and potentially reach a new ATH at $260. Breaking through this level could pave the way for further gains, with the price possibly targeting $265 or even $270. SOL Price Analysis. Source: TradingView However, as indicated by BBTrend and ADX, the trend’s strength appears to be weakening, leaving room for a potential reversal. If a downtrend emerges, SOL price could test its support levels at $204 and $194. Should these supports fail to hold, the price could drop further to $154, marking a significant correction from its current levels.
Microstrategy’s MSTR Beats Tesla And Nvidia Shares In Daily Trading Volume, Pumps 10% As Bitcoin Breaks $97K For New All-Time High
MicroStrategy’s MSTR stock recorded higher trading volumes than both Tesla (TSLA) and Nvidia (NVDA) shares yesterday and saw its price pump more than 10% in the last 24 hours as Bitcoin (BTC) sets a new all-time high (ATH) above $97K. According to Bloomberg ETF analyst Eric Balchunas, MSTR was “the most traded stock in America” yesterday, adding that it experienced more trading activity than both TSLA and NVDA. “It’s been years since a stock has traded more than one of those two,” he said in a Nov. 20 X post . MicroStrategy Market Cap Soars To $100 Billion After MSTR Surges 10% In addition to the surge in trading volume yesterday, MicroStrategy’s market cap also topped $100 billion. The company’s valuation has since undergone a slight correction. Despite this pullback, MSTR is still up 10% to trade at $473.83 as of 2:14 a.m. EST, according to Google Finance data . This recent surge in MSTR’s value has closed the gap between MicroStrategy’s market cap and that of the more than 60-year-old semiconductor titan, Intel. Google Finance data shows that Intel’s market cap stands at over $103.56 billion.This is after the company’s shares, INTC, recorded a less than 1% drop in the last 24 hours. Bitcoin Soars To A New All-Time High The trading frenzy around MSTR and MicroStrategy’s rising market cap coincide with a continued rise in BTC’s price. Known for being the largest corporate holder of Bitcoin by far, MicroStrategy’s aggressive accumulation of the leading crypto is paying off. Earlier in today’s trading session, BTC posted a new ATH of $97,862.64. It has since retraced slightly, but remains more than 7% and over 43% in the green over the last week and month, respectively. Bitcoin’s dominance has also risen to more than 60% as the rest of the crypto market struggles to keep up with the flagship crypto’s gains. Related Articles: Pepe Unchained Presale Shatters $40M, Averaging $1.6M Daily – FOMO Might Fire 100x Gains After Tier 1 Listings Coinbase CEO Brian Armstrong To Meet With Trump To Discuss Personnel Appointments, Says WSJ Pudgy Penguins NFT Arts To Be Exhibited At Miami Art Basel 2024
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