Cryptocurrency analyst Javon Marks We’ve highlighted a few indicators that have turned optimistic. Ethereum (ETH). The analyst pointed out that one of these indicators hints at an all-time high (ATH) for the second-largest cryptocurrency token. Bullish Indicators for Ethereum Mark with an X (formerly Twitter) post A bull flag-like price structure has formed on the Ethereum chart. He added that higher lows are forming in Ethereum’s price action. bullish signal This is because it represents strong resistance to the downward trend. Meanwhile, analysts argue that the lows are lower. Relative Strength Index (RSI) Indicates the hidden strength difference in the…
Author: Crypto Flexs
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Bitcoin BTC +5.61% Short liquidations surged to more than $48 million in the past 24 hours after the largest digital asset by market capitalization rose above $66,000.The rally followed the release of U.S. inflation data on Wednesday, which showed core CPI rising 0.3% month-on-month and 3.6% year-on-year. This is the lowest core inflation figure for 12 months since April 2021, and the smallest monthly increase since December. These figures suggest that inflation is cooling.As the price of Bitcoin rose over the past day, the total number of Bitcoin positions liquidated reached $58 million. In the same period, the broader cryptocurrency…
Galaxy Digital CEO Mike Novogratz predicts a new “market event” will take Bitcoin (BTC) and other cryptocurrency assets to the next level. During Galaxy Digital’s first quarter earnings call, the billionaire said a breakout in Bitcoin, Solana (SOL), Ethereum (ETH) and other digital assets may still be months away after trading sideways for some time. He said Bitcoin could trade in the $55,000 to $75,000 range until there is clarity on cryptocurrency regulation in the upcoming US presidential election in November or the Federal Reserve cuts interest rates. “Listen, we had a lot of tailwinds in the fourth and first…
Solana started a new rise above the $150 resistance. SOL price is up almost 15% and could continue to rise if it overcomes $165 resistance. SOL price recovered higher and tested $162 resistance against the US dollar. The price is currently trading above $150 and the 100-hour simple moving average. On the hourly chart of the SOL/USD pair (data source from Kraken), a breakout occurred above the main bearish trendline with resistance at $148. Failure to hold above $158 could lead to removal of the $165 resistance level. Solana price begins new surge Solana price formed a support base near…
The cryptocurrency market, like any other financial market, experiences cyclical swings between bullish (upward) and bearish (downward) trends. While bull markets capture headlines with meteoric price rises, bear markets offer a different challenge – one that separates the savvy investors from the emotional ones. A bear market is typically defined as a period where cryptocurrency prices fall by more than 20% from recent highs. This decline can be attributed to various factors, including negative news, regulatory uncertainty, or simply a correction after a rapid price increase. Bear markets can be nerve-wracking, but they also present opportunities for those who are…
OKX Introduces New USDC Spot Trading PairLeading cryptocurrency exchange OKX announced that it will support a new USDC spot trading pair, further strengthening the growth of the USDC ecosystem. This move aims to meet the diverse trading needs of users.As stated in the official announcement published on May 16, 2024, the new USDC trading pair will be introduced in the spot trading section on May 20, 2024 between 7:00 AM and 8:00 AM (UTC). Not only does it expand the trading options available to OKX users, but it also contributes to the continued expansion of…
Chinese police have uncovered a $1.9 billion underground banking operation linked to the popular stablecoin Tether.An underground banking operation that exchanged foreign currencies using the Tether (USDT) stablecoin was operated in Chengdu, China. City police issued a media release highlighting details of the underground operation and said they had arrested 193 suspects in 26 provinces. The police report noted that the underground USDT banking operation began in January 2021 and was mainly used to smuggle pharmaceuticals, cosmetics and investment assets out of the country.Authorities destroyed two underground operations in Fujian and Hunan, and police froze 149 million yuan worth $20…
BitMEX Announces Listing of NOTUSDT Perpetual SwapBitMEX, a leading cryptocurrency derivatives trading platform, announced the imminent listing of NOTUSDT, a new perpetual swap. This new listing gives traders the opportunity to leverage their trades by up to 10x.NOTUSDT transaction detailsNOTUSDT perpetual swap trading begins later today. The exact timing will vary depending on the index constituents. BitMEX assures users that all traders will be notified via site announcements and social channels once the listing is launched.For more information about this new listing, please visit the BitMEX blog. Additionally, if you have any questions or concerns,…
The DOJ arrested and charged two people on May 15 for the $25 million MEV exploit on the Ethereum blockchain.The defendants, brothers Anton and James Pepaire-Bueno, were each charged with conspiracy, wire fraud and money laundering, which could result in up to 20 years in prison.offensive lineThe defendants’ scheme focuses on Ethereum’s Maximum Extractable Value (MEV), specifically the MEV-Boost software used by many Ethereum validators to optimize transactions as searchers use MEV bots to find profitable arbitration opportunities. Several customized steps were included.First, the defendants allegedly established Ethereum validators and concealed their identities through various tactics. After establishing the network,…
Bitcoin hit $66,000 on May 16 after U.S. macro data sparked a surge in risk assets.BTC/USD 1-hour chart. Source: TradingViewBTC price rise returns mixed reactionsData from Cointelegraph Markets Pro and TradingView followed the BTC price action as bulls attempted to take gains of 7.5% from the previous day.This comes as the Consumer Price Index (CPI) in April significantly exceeded expectations, sparking predictions that financial conditions for cryptocurrency and risky assets will ease.Source: TedtalksmacroSome immediate reactions were skeptical, with market observers pointing to the rapidly increasing open interest as one of several signs that Bitcoin’s movement may be unsustainable.Popular Trader Credible…