Из жизни альткоинов
Минпромторг: Бизнес в России не готов к переходу на цифровой рубль
Найджел Грин предложил Великобритании создать госрезерв в биткоинах
‘Even In A Parabolic Bull Run’ Bitcoin Can See 30% Pullbacks – Top Analyst
Bitcoin has experienced a 7% pullback from its all-time high at $99,800 after failing to break above the psychological $100,000 mark. This retracement, while causing some concern among investors, is seen as a necessary consolidation phase for the cryptocurrency to build strength before continuing its ascent.
Despite the short-term setback, many fear this may be the peak of Bitcoin’s bullish movement for this cycle. However, top analyst Ki Young Ju, CEO of CryptoQuant, shared a technical analysis on X highlighting that even during parabolic bull runs, BTC can experience significant pullbacks—sometimes as deep as -30%.
With the market consolidating, the next few weeks will determine whether BTC can reclaim its momentum and eventually break above the $100,000 level or if the price will face further downward pressure. Investors remain watchful, balancing caution with optimism as BTC works through its latest phase of price action.
Bitcoin Bull Run Is Only StartingBitcoin’s parabolic bull run is just beginning, and the recent aggressive move from $67,500 to $99,800 confirms this bullish phase. While BTC has seen impressive gains, top analyst and CryptoQuant CEO Ki Young Ju shared a technical analysis on X, suggesting that despite a parabolic bull run, BTC can experience significant pullbacks of up to 30%.
This pattern has been seen repeatedly, such as during Bitcoin’s 2021 price discovery from $17,000 to $64,000, where sharp corrections did not derail the upward trajectory.
This analysis doesn’t signal an imminent correction but highlights the importance of managing risk. Investors need to avoid panic selling during local bottoms, as such corrections are part of Bitcoin’s price discovery process and serve to shake out weak hands. As long as BTC continues to establish higher highs and maintain its overall bullish trend, corrections can be seen as opportunities rather than reasons to exit the market.
With this context in mind, optimistic investors view Bitcoin’s ongoing rise as the beginning of an extended bullish period. Many believe that BTC will continue its ascent, with altcoins likely following. The coming months hold significant potential for BTC and the broader cryptocurrency market as long as investors remain patient and resilient during inevitable price corrections.
Testing Liquidity Above $90KBitcoin is currently trading at $92,100 after testing crucial liquidity levels that could act as price demand zones. This consolidation around these levels suggests there is still potential for Bitcoin to hold steady and continue its bullish trend toward breaking the $100,000 mark. However, if BTC fails to maintain support above the $90,000 level, it could signal further correction, weakening the bullish structure and pushing the price lower.
The last strong level of demand to watch would be the $88,500 mark, as a drop below this price could lead to a deeper pullback. Losing this level would shift the liquidity range, potentially altering Bitcoin’s price trajectory for the coming weeks. This could result in further consolidation or a more significant retracement, which may limit the upside potential in the short term.
For the bulls to maintain control, it is critical that BTC holds the $90,000 level and avoids dropping to the $88,500 zone. If demand remains strong at these levels, BTC could resume its upward momentum, pushing toward new highs and possibly the long-awaited $100,000 breakout.
Featured image from Dall-E, chart from TradingView
Чанпэн Чжао назвал ажиотаж вокруг мемкоинов «немного странным»
FCA Report Unveils Crypto Boom in the UK: 7 Million Adults Now Hold Digital Assets
The adoption of cryptocurrency in the UK has seen a steady rise, with an estimated seven million adults now owning crypto assets, according to a recent report by the Financial Conduct Authority (FCA).
The figures indicate that approximately 12% of the UK adult population currently holds digital currencies, up from 10% in 2022, highlighting a growing interest in digital assets.
Crypto Boom In The UKThe report further provides insights into the behaviors and perceptions of UK crypto users. The average digital currency holding is valued at £1,842, with most users funding their investments through disposable income (72%).
Awareness of cryptocurrencies remains high, with 93% of the general public indicating they have heard of cryptoassets. Traditional media is the leading source for learning about digital currencies, followed closely by online news platforms, blogs, forums, and social media.
Interestingly, crypto users identified friends and family as the most common source of initial information. Meanwhile, as revealed in the report, YouGov conducted the FCA’s study in August.
The study involved interviews with over 2,000 individuals representing the UK adult population and an additional 1,000 digital currency users.
Regulatory Gaps and Rising RisksDespite the increasing adoption, the FCA warns of significant risks associated with digital currency investments. The regulator emphasized that the digital currency sector in the UK remains largely “unregulated,” cautioning individuals that they should be prepared to lose all their money if investments go wrong.
While around a third of respondents believed they could raise a complaint with the FCA in case of disputes or losses, the regulator clarified that current protections are limited.
The FCA has been actively working to bring more structure to the crypto industry. Following legislative changes, the FCA introduced a financial promotions regime for cryptoassets to equip individuals with the tools to make informed decisions.
It also published a regulatory roadmap outlining consultations to shape the future of digital currency regulations. Matthew Long, the FCA’s director of payments and digital assets, highlighted the need for clear rules to foster a safe and competitive digital currency environment.
Long stated,
Our research results highlight the need for clear regulation that supports a safe, competitive, and sustainable crypto sector in the UK. We want to develop a sector that embraces innovation and is underpinned by market integrity and consumer trust. We’re committed to working closely with the Government, international partners, industry and consumers to help us get the future rules right.
Meanwhile, according to the latest reports, the FCA will implement a digital currency regime by 2026. A road map released by the FCA revealed that the regulator “plans to publish discussion papers on market abuse and disclosures by the end of this year.”
The UK FCA will also have papers “on stablecoins, trading platforms, staking, prudential crypto exposure, and lending by early next year” based on the incoming digital currency regime.
Featured image created with DALL-E, Chart from TradingView
Джим Крамер: Биткоин заслуживает отдельного места в инвестиционном портфеле
Джастин Бонс: «Биткоин превратился в спекулятивную игрушку для богатых»
Алексей Нечаев: При грамотном подходе майнинг может принести России немало преимуществ
Cardano Adoption Now Fastest Since June 2023: Start Of New Rally?
On-chain data shows the adoption of Cardano is now happening at the fastest pace since June 2023, a sign that could be bullish for ADA’s price.
Cardano Has Registered An Uptick In New Addresses RecentlyAccording to data from the market intelligence platform IntoTheBlock, the ADA network has been growing recently. The on-chain metric of relevance here is the “New Addresses,” which keeps track of the daily total amount of Cardano addresses that are coming online on the chain for the first time.
An address is said to be ‘online’ on the network when it participates in some kind of transaction activity. As such, the New Addresses measure the number of ADA addresses that make their very first transactions.
When the value of this metric surges, it can be due to a number of reasons. New investors joining the network and old ones who had sold earlier returning can both contribute to a rise for the indicator. Existing users creating multiple wallets for a purpose like privacy also lead to new address generation.
In general, whenever the indicator goes up, all of these factors are at play to a degree, so some net adoption of the cryptocurrency could be assumed to be taking place.
Now, here is a chart that shows the trend in the New Addresses for Cardano over the last few years:
As is visible in the above graph, the Cardano New Addresses have seen a jump recently, which implies a large number of addresses are being created on the network. In fact, the influx of users is currently so high for the cryptocurrency that the indicator is sitting at the highest point since June 2023, almost a year and a half ago.
Historically, adoption has been something that has proven to be constructive for digital assets in the long term, as a wider user base provides a stronger foundation on which future price moves can build on. Thus, the latest trend in the New Addresses could also be an optimistic sign for ADA.
The rise in the metric has come as the asset’s price has witnessed a rally beyond the $1 mark. Interestingly, despite the fact that the coin has seen a cooldown from this high in the last few days, the New Addresses has still maintained its upward trajectory.
It now remains to be seen whether this continued interest from new investors would help turn Cardano around in the near future, or if this adoption will only bear fruit in the long term.
ADA PriceCardano has seen a significant retrace to the $0.91 level as the digital asset sector as a whole has suffered a drawdown. Unlike some of the other top coins, though, ADA is still printing a significant profit of around 24% for the past week.
Morocco To Legalise Bitcoin And Crypto, Says Central Bank Chief
Morocco is poised to lift its long-standing ban on Bitcoin and cryptocurrencies, signaling a significant shift in the nation’s financial policy. According to Reuters, Abdellatif Jouahri, the Governor of Bank Al-Maghrib (BAM), announced that a draft law regulating crypto assets is in the final stages of adoption. “We have prepared a draft law regulating crypto assets, which is currently in the adoption process,” Jouahri stated during an international conference in Rabat.
Bitcoin And Crypto Ban Reversal Was Long PlannedCryptocurrencies have been banned in Morocco since 2017 due to concerns over financial risks and market volatility. Despite the ban, Bitcoin and cryptocurrency usage persisted underground, with an estimated 4.9% of the Moroccan population—approximately 1.9 million people—owning digital assets as of 2022. Morocco ranks among the top countries globally in cryptocurrency adoption, and according to Chainalysis’s 2023 report, it is second only to Nigeria in Africa for crypto usage.
The central bank’s decision to regulate rather than prohibit Bitcoin and cryptocurrencies reflects a growing recognition of their potential benefits. Jouahri emphasized that BAM is also exploring the development of a central bank digital currency (CBDC). “Regarding central bank digital currencies, and like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion,” he said.
Morocco’s journey from a complete ban to embracing Bitcoin and crypto regulation has been methodical. In March 2022, Moroccan officials engaged with the International Monetary Fund (IMF), the World Bank, and central banks in Sweden, France, and Switzerland to study their regulatory approaches to crypto-related activities, indicating a potential shift towards a more nuanced policy.
By June 2022, BAM announced plans to unveil a Cryptocurrency Regulation Bill, marking a significant turnaround from its previous hardline stance. The central bank collaborated with the World Bank and IMF to draft the legislation.
In August 2022, the Moroccan Capital Markets Authority (AMMC) launched a fintech portal aimed at supporting market players and promoting technological innovations in the financial sector, signaling regulatory openness to cryptocurrencies. By December 2022, Governor Jouahri confirmed that the crypto regulatory framework was complete and ready to be presented to fintech stakeholders. “For cryptocurrencies, I can assure you that the project is ready. We worked with the World Bank to make it happen,” he noted.
At press time, BTC traded at $92,388 down -5.3% over the past 24 hours.
Analyst Reveals The ‘Truth’ Behind This Dogecoin Price Rally
The Dogecoin price is up almost 150% since the start of this month, as the foremost meme coin continues to enjoy a massive bull run. Crypto analyst Alan Santana has provided insights into what is driving this rally and whether it is sustainable.
What Is Driving The Dogecoin Price RallyIn a TradingView post, Alan Santana alluded to DOGE’s monthly chart to show what is truly driving the Dogecoin price rally. He noted that this month is a bullish breakout month and the first strong green month since the 2021 bull run. The analysts specifically cited January 2021, when a similar action occurred, with a “very strong bullish phase” following.
In line with this, Santana stated that just because the Dogecoin price is seeing this strong growth doesn’t mean this is the end. Instead, the analyst stated that this very strong growth signals the beginning of the bullish cycle, so investors can expect more parabolic rallies for Dogecoin ahead.
Santana asked those in doubt to zoom out on the monthly chart. He revealed that this monthly session has the highest volume since 2021. Furthermore, the analyst mentioned that this month broke a long-term resistance and descending trend. Lastly, he said that this month ended a three-year consolidation period for the Dogecoin price.
The analyst noted that this three-year consolidation can lead to a very strong bull market, which is exactly what is playing out. As such, Santana reaffirmed that no matter how high the Dogecoin price goes this month, it is only the start. In the short term, the analyst warned that there can be swings and shakeouts, and even a strong correction can develop along the way.
However, Santana claimed that such corrections are good as they will be used as an opportunity to take profits when at resistance and rebuy and reload when at support. He added that the Dogecoin price has much more to give and that there is no limit as to how high prices can go.
Most Explosive Leg Still AheadIn an X post, crypto analyst Kevin Capital echoed a sentiment similar to Alan Santana, suggesting that the most explosive leg could still be ahead for the Dogecoin price. This came as he highlighted the stage Dogecon’s price and Relative Strength Index (RSI) currently are on the monthly timeframe in relation to previous bull cycles.
He claimed that if this Dogecoin price level and RSI hold, there is a long way to go in this DOGE bull run, and the most explosive leg is still ahead. Crypto analyst Trader Tardigrade recently predicted that the Dogecoin price could rally to $8.7 by August 2025 if it mirrors the 2017 bull run or rally to $30 by March 2025 if it follows the 2021 bull run.
At the time of writing, the Dogecoin price is trading at around $0.40, down over 6% in the last 24 hours, according to data from CoinMarketCap.
Bitcoin’s Short-Term Holder SOPR At A Critical Level, What Does This Mean For BTC?
As Bitcoin’s price continues to fluctuate, several important metrics might be essential in determining the digital asset’s next direction so that crypto enthusiasts and investors can position themselves for notable market shifts in the upcoming days.
On-chain Data Reveals Bitcoin’s Momentum Under ThreatKyle Doops, a technical analyst and host of the Crypto Banter show, has offered insights about Bitcoin’s next potential trajectory, utilizing the Short-Term Holder Spent Output Profit Ratio (SOPR) metric. Specifically, the STH-SOPR is a measure used to evaluate the actions of short-term investors, and it only considers outputs that have been spent within the last 155 days. Simply put, it is a key on-chain indicator that shows whether BTC is being sold for a profit or a loss.
According to the analyst, despite Bitcoin slowly approaching the $100,000 price level, this key metric on the 30-day time frame has maintained an average of 1.02, which suggests possible profit-taking by short-term investors and a pullback might be on the horizon.
In the past, this trend has signaled an opportunity for new investors to purchase BTC at better prices should a correction occur. “Opportunity might be just around the corner,” he added.
Bitcoin’s potential for a price correction is further indicated by current negative behavior among long-term Bitcoin holders, as they have been offloading their holdings on a huge scale. Data from Kyle Doops’ report revealed that long-term BTC holders have sold over 128,000 BTC since October, signaling a possible shift in market dynamics.
This development suggests that these investors are opting to realize profits after recent upswings that pushed Bitcoin closer to the $100,000 price mark. It also marks a critical phase in the market cycle that could result in higher volatility as the selling pressure persists.
Even though there have been massive sell-offs from long-term holders, investors of the US Spot Bitcoin Exchange-Traded Funds (ETFs) absorbed about 90% of the selling pressure. This robust institutional demand is driving BTC’s uptrend, pushing its value to the $100,000 milestone, a key level that could alter the dynamics of the general crypto market.
BTC’s Bearish Performance BuildingAfter reaching as high as $99,500 during the weekend, Bitcoin’s upward momentum has slowed down, resulting in a drop closer to the $92,000 level. This recent drop comes in the midst of anticipated price corrections, sparking speculations about an extended downswing.
Profit-taking was considered the primary cause of the price decrease, with several indicators showing that retail investors may be gradually selling their holdings.
In the past day, BTC has fallen by over 6%, bringing its price to $92,320, demonstrating signs of further losses. Despite the decline, positive investors’ sentiment continues to hold strong as indicated by a more than 54% surge in its trading volume in the last 24 hours.
Analyst Says the Dogecoin Price Will Keep Outperforming Bitcoin While This Altcoin Aims for a 43,209% Rally
The Dogecoin price is outperforming Bitcoin. Surprising right? Dogecoin is renowned for its ability to outperform other cryptos during price swings. This is the case here, as DOGE, backed by a loyal community and strong market sentiment, is experiencing more growth than Bitcoin. DOGE has grown by 196% in the past month compared to BTC’s 41%.
Dogecoin’s momentum is impressive, but a new altcoin, RCO Finance (RCOF), garners attention with its revolutionary features and impressive growth potential. This ingenious altcoin combines AI and DeFi to democratize access to digital and real-world assets. Aiming for a 43,209% rally, RCOF is a rising challenger you can’t ignore.
Why Analysts Believe The Dogecoin Price Will Keep Beating BitcoinDOGE continues to surpass expectations as the Dogecoin price outperforms Bitcoin. These are the factors contributing to this impressive performance.
Dogecoin has a lot of meme appeal. As the original memecoin, Dogecoin began as a joke, evolving into a cultural movement. Its mascot, the Shiba Inu dog and humorous branding helped it resonate with a wider audience. This makes it more appealing and accessible than Bitcoin, considered a serious investment-focused altcoin.
DOGE has a strong community behind it. The Doge Army is pivotal to ensuring Dogecoin remains relevant and helps drive up the Dogecoin price. This community is known for its enthusiastic support, charitable initiatives and social media engagement. These efforts are all to increase awareness and drive up the price.
Celebrity endorsements and media attention also boost Dogecoin’s performance. Backing from high-profile figures, particularly Elon Musk, has greatly increased DOGE’s visibility and improved market performance.
Musk’s tweets have directly led to immediate surges in the Dogecoin price. Although Bitcoin gets attention from high-profile figures, it lacks the same meme-driven promotion as DOGE.
Coupled with viral marketing, DOGE can quickly capture public interest, causing rapid increases in the Dogecoin price and attracting new investors looking for short-term gains.
RCO Finance (RCOF): The Altcoin Positioned to Outperform DOGEAs the Dogecoin price performance continues to eclipse Bitcoin’s growth, investors are also drawn to RCOF’s ambitious growth potential. This AI altcoin merges crypto and traditional finance, allowing users to buy real-world assets using crypto. Primed for a massive 43,209% rally, RCOF could outperform Dogecoin.
RCOF’s growth is spearheaded by its AI trading tools. These advanced tools give users a competitive edge, allowing them to make smarter choices.
They offer price predictions, market analysis, customized investment guidance, and automated portfolio management. You can customize these tools to your needs, ensuring their insights align with your goals.
A prime example is the robo-advisor. This AI tool provides custom investment strategies and advice based on your preferences.
It factors in your financial goals, risk tolerance and market conditions to present the best course of action that ensures maximum profitability. Its insights eliminate emotional trading, making you less susceptible to fear or greed. By making more sound choices, you avoid unnecessary risks.
The robo-advisor benefits both newbies and exerts. It has educational materials that help break down complex markets, helping users regain more control over their portfolios.
With the robo-advisor, even beginners can make smart investment decisions and maximize their returns. For seasoned traders, the tool’s advanced insights help enhance their strategies and boost profitability. This combination ensures that all users, regardless of their experience, can achieve their goals.
RCOF offers access to more than 120,000 tradable assets, including real-world assets such as ETFs, bonds, etc., which can be bought using cryptocurrency. This variety is rare in the crypto world, and bypassing crypto conversion to fiat currency simplifies the process and saves money.
Access to digital and real-world assets on one platform enables users to easily invest in high-value assets and diversify their portfolios. This rebalancing improves portfolio value and helps mitigate risk by adding more stable assets.
RCOF employs blockchain to record all transactions immutably, reducing risks of fraud and errors. RCO Finance has undergone a rigorous audit by SolidProof, ensuring the platform’s smart contracts are secure and transparent.
Join RCOF’s High-Growth JourneyAs the Dogecoin price continues to outperform Bitcoin, it shows the power of meme appeal and strong community support. However, for investors looking for a high-growth altcoin that provides more than speculative hype, RCOF is emerging as a compelling option.
With its cutting-edge AI-powered platform and diverse investment options, RCOF could yield even higher gains than DOGE.
The ongoing RCOF presale offers a unique opportunity to claim your spot in this utility-driven altcoin. Tokens are still available at a discounted price of $0.055. If you join now, you also get a bonus and access to the RCOF platform. But you have to act fast. Tokens are selling out quickly, and the price will increase in the next stage.
Don’t miss the opportunity to capitalize on RCOF’s projected 43,209% rally. Invest in RCOF today.
For more information about the RCO Finance (RCOF) Presale:
Shiba Inu Burn Suffers 30% Crash, Will SHIB Price Follow This Bearish Trend?
The Shiba Inu burn rate is facing new challenges amidst a corresponding lull in the Shiba Inu price. According to data from Shiba Inu burn tracker Shibburn.com, the number of SHIB tokens burned in the past 24 hours has declined noticeably, which gives rise to a concern about the activity surrounding Shiba Inu and whether the already declining Shiba Inu price action could be negatively affected.
Shiba Inu Burn Suffers 30% CrashShiba Inu’s burn rate is a main principle of the SHIB tokenomics strategy, as it is aimed at reducing supply and increasing scarcity over time. However, recent data from Shibburn.com indicates a concerning drop in burn activity. Over the past 24 hours, only 3.378 million SHIB tokens were removed from circulation through burning. While this figure may initially appear plenty, it actually represents a sharp 30.36% decline compared to the previous 24-hour period.
This decline in the total number of tokens burned shows a slowdown in burn activity, which is particularly noticeable when compared to the heightened burn levels recorded just two days ago. A detailed look into data from Shibburn.com shows that this decline is evident not only in the reduced total number of burn transactions but also in the markedly smaller amounts of SHIB tokens being sent for burning in each transaction.
Furthermore, the low burn activity is further visible when compared to the SHIB burns two days ago. For instance, the highest number of SHIB tokens burned in one transaction in the past 24 hours comes out at 1.99 million SHIB tokens. This pales in comparison to the 169 million burned in one single transaction just two days ago.
What Does This Mean For SHIB Price? Bearish Trend Ahead?The critical question remains whether the decline in burn rate will translate into a corresponding drop in SHIB’s price. Interestingly, the SHIB price movements seem to be reflecting the decline in the low activity. At the time of writing, SHIB is trading within a narrow range between $0.00002756 and $0.00002330 in the past seven days.
The SHIB price movement started the week on a bearish note and is down by about 1.3% in the past 24 hours. Particularly, the SHIB price is trading at $0.0000253, although reaching a low of $0.00002436 in the past 24 hours. Furthermore, the SHIB trading volume has declined by 19.27% in the past 24 hours, further relaying the low activity trend.
However, the Shiba Inu burn crash doesn’t necessarily spell gloom for the SHIB price. A resurgence in broader crypto activity could cause the return of bullish activity into the meme coin, especially if the Bitcoin price eventually breaks above $100,000.
New Bill For National Bitcoin Reserve Introduced In Brazil’s Chamber Of Deputies
In a step toward integrating crypto into the country’s financial framework, Brazilian federal deputy Eros Biondini introduced a bill to create a national Bitcoin reserve.
Brazil’s Proposed Bitcoin Reserve BillFiled on Monday, the legislation proposes the establishment of the Sovereign Strategic Bitcoin Reserve (RESBit), which is designed to diversify the financial assets of Brazil’s National Treasury.
According to the deputy, the bill aims to protect Brazil’s reserves from exchange rate fluctuations and geopolitical risks, promote the adoption of blockchain technology across the public and private sectors, and provide solid backing for issuing Drex, Brazil’s new digital currency.
Biondini emphasized that the creation of RESBit is a strategic measure that reportedly positions Brazil at the forefront of the digital economy. The deputy told a local media outlet:
The approval of this project is essential to guarantee the country’s economic sovereignty and align Brazil with global innovation trends. This initiative is essential to guarantee the country’s economic sovereignty and align Brazil with global innovation trends.
Public Education On Crypto Assets IncludedThe bill also outlines a planned approach to acquiring cryptocurrencies, proposing a “gradual Bitcoin accumulation” limited to 5% of Brazil’s international reserves, with the management of these assets through cold wallets.
In addition, the deputy said on Monday that any spending from the reserve would have to comply with Brazil’s Fiscal Responsibility Law, which ensures fiscal discipline. The legislation mandates that all transactions must be reported semiannually to the National Congress to maintain transparency and accountability.
The management of the Bitcoin reserve would reportedly be the responsibility of the Central Bank of Brazil (BC), in collaboration with the Ministry of Finance. The BC would also be tasked with developing monitoring and control systems using artificial intelligence and blockchain technologies for “operational integrity.”
The bill also includes provisions to educate the public about crypto assets. Biondini highlighted the growing importance of cryptocurrencies, noting that their global market value has surpassed $3 trillion in recent weeks.
Despite the volatility of cryptocurrencies, the deputy argued that they are increasingly recognized as a legitimate asset class. Countries that adopt effective strategies for economic integration with cryptocurrencies, he suggests, will likely reap significant benefits in the medium to long term.
At the time of writing, BTC is trading at $92,620, having seen a 7% correction in the past four days after almost reaching the $100,000 mark at the end of the week. However, the leading crypto is up 37% every month in longer time frames.
Featured image from DALL-E, chart from TradingView.com
Impending Bitcoin’s Price Correction May Be Brief If This Key Trend Persist
Bitcoin‘s recent upward momentum appears to be losing steam as the digital asset has shifted toward bearish territory, sparking speculations about upcoming price corrections. However, considering several factors and trends, these much-anticipated price pullbacks for BTC might be short-lived.
Bitcoin Likely To Recover Swiftly From Any CorrectionDelving into Bitcoin’s price dynamics and developments, Santiment, a market intelligence and on-chain data platform, has asserted that any price correction in the current Bitcoin market cycle is probably going to be short-lived.
This prediction reflects Bitcoin’s resilience despite recent declines, driven by robust interest among institutional investors, which could help prevent extended downturns, providing a solid foundation that may cause a swift recovery. It could also fuel optimism among these investors as they may see the impending price corrections as opportunities to sharpen up their portfolios ahead of BTC’s next upsurge.
The platform’s prognosis comes in light of Bitcoin opening the week with a mild retrace below the $95,000 level, which has triggered uncertainty within the community, particularly among small investors. However, large investors such as whales and sharks are still maintaining a positive sentiment as they continue to accumulate BTC in huge quantities.
Data from Santiment shows that whale and shark wallet addresses holding at least 10 BTC have amassed about 63,622 more BTC, valued at a whopping $6.06 billion in November alone, indicating confidence among institutional investors in BTC’s potential for long-term growth.
As a result, the platform is confident that any price decline might be brief as long as there is still a solid positive argument and large investors keep moving their holdings in the right direction.
Thus far, with Bitcoin’s price currently demonstrating a negative performance, traders and investors are closely watching for signs of an extended downswing to re-evaluate their positions to cut further losses.
Multiple Price Corrections Ahead For BTC?Although a retrace for BTC could be short-lived, the digital asset might be faced with multiple pullbacks in the near term, as predicted by Kevin, a market expert and trader, who foresees about three potential corrections based on historical trends.
Kevin highlighted that during the 2017 bull run after BTC went into price discovery, it underwent 3 pullbacks, with each scenario being shorter than the previous one. He noted that the first lasted for 34 days, the second was 21 days, and the third was 7 days before BTC went full parabolic and reached its cycle peak. Meanwhile, each correction was between 30% to 40%.
With Bitcoin’s current price action mirroring the 2017 bull market, the expert believes that history could repeat itself, urging investors to stay vigilant as the development could also influence the altcoins market, which may lead to a swift pullback between 50% and 60% before being bought up again.
Hoskinson Unveils Next Step Over Cardano And XRP Omission In Wyoming
Charles Hoskinson, the founder of Cardano, has publicly criticized the Wyoming Stable Token Commission’s recent blockchain network selections for the state’s upcoming stablecoin, the Wyoming Stable Token (WST). In a livestream titled “XRP and Wyoming” broadcasted on November 25, 2024, Hoskinson questioned the commission’s opaque selection process and raised concerns about potential conflicts of interest.
The Wyoming Stable Token Commission announced the initiation of its procurement process for WST, expected to launch in 2025 as “the first fiat-backed and fully reserved stable token issued by a public entity in the United States.” The commission intends to engage qualified third-party vendors to facilitate the development, deployment, and management of WST and its underlying reserves.
The selected blockchain networks for the initial deployment are: Solana, Avalanche, Stellar and Ethereum, inclusive of Layer 2 networks like Polygon, Arbitrum, Base, and Optimism. These selections were determined by the commission’s Blockchain Selection Working Group, a process that Hoskinson described as “very opaque.”
Cardano Founder Unites With XRP CommunityHoskinson expressed bewilderment over the exclusion of prominent blockchain networks such as the XRP Ledger and Cardano from the selection. He highlighted Ripple’s RLUSD and questioned how Stellar qualified over Ripple, given their shared history and Ripple’s substantial market presence.
“Let me get this straight: apparently Stellar can do stuff that Ripple can’t do according to the scoring criteria,” Hoskinson remarked. “Ripple just announced the launch of RLUSD, and the last time I checked, when we look at market cap here, look at XRP—an $84 billion ecosystem with almost $12 billion in trading.”
Cardano, with a market cap of $34 billion and a trading volume of $3.2 billion, was also excluded. Other notable exclusions include Algorand, Tezos, and Aptos. “Dozens and dozens and dozens of viable, interesting ecosystems were excluded—not even given a chance to try to build a proof of concept to demonstrate that they were capable,” Hoskinson stated.
Hoskinson suggested that the selection process may have been influenced by former affiliations of key individuals within the commission. He pointed out that Anthony Welfare, the Executive Director of the Wyoming Stable Token Commission, is a former ConsenSys employee who also worked in the Polygon ecosystem.
“It’s almost as if ConsenSys doesn’t get along so well with Ripple, isn’t it?” Hoskinson mused. He further noted that one of the commissioners used to work for Circle, a company known for its stablecoin, USDC. “Circle just announced Circle support; in fact, I think all those chains that were announced were all Circle chains—every single one of them. Interesting how that happens.”
Hoskinson implied that the selections favor networks associated with Circle and ConsenSys, potentially creating an unfair competitive advantage. “It’s not okay to use public funds to create an unfair competitive advantage for certain companies and certain ecosystems and to whitewash it as if it was an open process,” he asserted.
Hoskinson criticized the commission for not following standard procurement procedures, which typically involve publishing functional and non-functional product requirements and allowing interested parties to submit proofs of concept. He argued that the process lacked transparency and did not provide an opportunity for excluded networks to demonstrate their capabilities.
“Opaque processes are not how we’re going to have a relationship with the government moving forward,” Hoskinson declared. “Because we don’t qualify, we can’t even bid to build. We didn’t lose an RFP; we weren’t even allowed to participate.”
He suggested that the exclusion could have legal implications, stating, “There might even be a class action because anybody excluded certainly has standing. This creates an unfair competitive advantage to those chains selected and an unfair disadvantage to the chains not selected.”
Hoskinson also highlighted the exclusion of Bitcoin, the largest cryptocurrency by market cap. Through Cardano’s project called Bitcoin OS (BOS), he noted that there was an opportunity for Bitcoin to have its first stablecoin via WST.
“I would also like to point out, because of Cardano’s partnership with BOS (Bitcoin OS), Cardano creates an opportunity for Bitcoin to have its first stablecoin,” he said. “This commission decided under these criteria to exclude Bitcoin—the largest cryptocurrency by far and the only one the current president who’s coming into power, Trump, is considering starting a strategic reserve.”
Hoskinson called upon the XRP community to join in addressing the issue. “XRP community, you know what to do, and we do too,” he urged. “We’re going to get this fixed one way or the other.” He emphasized the need for fair and transparent processes in government-led cryptocurrency initiatives.
“We don’t have any patience or tolerance for this type of stuff anymore,” Hoskinson stated. “Things are changing in 2025 and opaque processes are not how we’re going to have a relationship with the government moving forward. […] “We’re going to do to we’re going to score you ourselves and we’ll just publish who qualifies.”
At press time, ADA traded at $0.9785.
Bitcoin HODLers Sell BTC Worth $60 Billion, Can Price Survive?
On-chain data shows the Bitcoin long-term holders have participated in a major selloff recently, a sign that may not be ideal for BTC’s price.
Bitcoin Long-Term Holders Have Been Distributing RecentlyAs explained by on-chain analyst Checkmate in a new post on X, the Bitcoin long-term holders have just shown their heaviest profit-taking event of the ongoing cycle.
The “long-term holders” (LTHs) refer to the BTC investors who have been holding onto their coins since more than 155 days ago. This cohort makes up for one of the two main divisions of the sector done on the basis of holding time, with the other group being known as the “short-term holders” (STHs).
Statistically, the longer an investor holds onto their coins, the less likely they become to sell said coins at any point. As such, the LTHs can be considered to include the diamond hands of the market, while the STHs consist of the weak hands.
Although the LTHs don’t sell too often, it would appear that the latest price rally has been too good a profit-taking opportunity for even these HODLers to miss out on.
There are several ways to track the behavior of this cohort, with one such being the amount of supply that they are ‘spending.’ Below is the chart shared by the analyst that shows the trend in both the 30-day and the cumulative value of this Bitcoin metric since November 2022.
As is visible in the graph, the Bitcoin LTHs have seen their 30-day spent supply spike to high levels recently. In total, these investors have transferred around $60 billion worth of tokens during the past month.
Generally, whenever these investors decide to break their dormancy, it’s for selling purposes, so all this movement is likely to correlate to a selloff from the group.
Naturally, with this spike in the 30-day spent supply, the cumulative value of the spent supply has shot up as well. In the context of the current chart, this latter metric is tracking the cumulative value of the amount of distribution that the LTHs have been doing since November 2022.
The reason Checkmate has picked this month as the cutoff is that BTC found the bottom of its last bear market in that month following the FTX crash. In other words, the month serves as the start for the ‘current’ cycle of the asset.
At present, the indicator is sitting at $273 billion. This means that the LTH distribution from the past month has made up for about 21% of the entire supply spent since the start of the cycle.
From the chart, it’s apparent that these diamond hands had also participated in a massive selloff in the first quarter of the year and it was perhaps this selling that forced Bitcoin into a phase of consolidation.
Given this trend, it would be interesting to see whether the recent selling would have a similar effect on BTC or if demand this time around is high enough to overcome this obstacle.
BTC PriceAt the time of writing, Bitcoin is trading around $95,500, up more than 8% over the last week.
Платформа мем-коинов Pump.fun закрыла функцию прямой трансляции из-за трэш-стримов
Semler Scientific Grows Bitcoin Portfolio With 297 BTC Purchase
Semler Scientific, a Nasdaq-listed healthcare technology firm, has acquired an additional 297 Bitcoin (BTC) for $29.1 million. The purchase comes as Bitcoin edges closer to the highly anticipated $100,000 milestone.
Semler Scientific Expands BTC HoldingsThe company disclosed its latest BTC acquisition earlier today, coinciding with a slight pullback in BTC’s price from its recent high of over $98,000. With the addition of 297 BTC, Semler Scientific’s total holdings now stand at 1,570 BTC, acquired at a cumulative cost of $117.8 million. The average purchase price of its BTC reserves is approximately $75,039 per Bitcoin.
According to the announcement, the latest BTC acquisition was made between November 18 and November 22. The 297 BTC were purchased at an average price of $97,995, including fees and related expenses.
In addition to buying BTC, Semler Scientific disclosed strong growth in its Bitcoin Yield performance. Specifically, from October 1 to November 22, the firm’s BTC Yield stood at 37.1%. This is slightly lower than its BTC Yield from July 1 to November 22, which was close to 58.4%. Commenting, Eric Semler, the CEO of Semler Scientific said:
We are thrilled to report a 58.4% BTC Yield and the outstanding progress we are making to accumulate bitcoin on our balance sheet in a highly accretive way for our stakeholders.
To recall, in May, Semler Scientific announced it had adopted BTC as a strategic reserve asset. The company’s first BTC purchase was of 581 BTC worth $40 million at prevailing market prices.
In August, the company added another 83 BTC to its holdings worth $5 million at prevailing market prices. Notably, earlier this month Semler Scientific scooped another 47 BTC for $3 million.
US Strategic Reserve Speculations Igniting Bitcoin FOMOSemler Scientific’s latest Bitcoin purchase aligns with growing speculation about creating a US national Strategic Bitcoin Reserve (SBR). Companies like MicroStrategy and Metaplanet have also been increasing their Bitcoin reserves amid this speculation.
For the uninitiated, US president-elect Donald Trump is expected to establish a national SBR. This move could trigger a global rush among corporations and nations to accumulate Bitcoin, a finite digital asset.
Should the Trump administration create a national SBR, the US could join the ranks of a handful of countries like El Salvador and Bhutan actively accumulating BTC as a hedge against macroeconomic uncertainties.
The US entering the BTC accumulation game holds the potential to be one of the most significant bullish catalysts in the digital asset’s history. As Trump’s inauguration date comes closer, entities worldwide are taking preemptive steps to capitalize on the potential shift in US Bitcoin policy.
BTC trades at $95,980 at press time, down 0.3% in the past 24 hours. The total crypto market cap is $3.47 trillion, up 1.2% in the past 24 hours.
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