It hasn’t been a particularly fun week in the cryptocurrency industry as the majority of the market is trading in the red. The losses are mostly tolerable, although some altcoins definitely feel the pressure. But let’s start with Bitcoin, as always.
The primary cryptocurrency saw a week full of volatility. During the weekend, it increased above $101,000 but as soon as the week started, things weren’t going as smoothly. On Monday, the price began to fall, and at one point, it even dipped toward $94,000.
You guessed it – at that point, half of the community was calling the bull market off. But the actual bulls had something else in mind, as the dip was bought up almost immediately within the next couple of days. The price shot up toward $103K yesterday but was unable to

To say that the past seven days were exciting would be an understatement. According to CoinGecko, the total cryptocurrency market capitalization increased by almost $300 billion and peaked at around $3.8 trillion. This comes on the back of a historic milestone for Bitcoin and the strong performance of many altcoins, so let’s dive into the price action.
All eyes were turned on Bitcoin this week. To be completely honest, the price action was relatively dull and rather depressing for the first part of the week. BTC was chopping between $98,000 and $96,000, even dropping to a low below $94,000 at one point. The bulls weren’t active. This all changed on Wednesday when the price shot up toward $99,000.
Most of the community were convinced that the price would once again be

It’s been a rollercoaster of a day for Bitcoin. Its price reached a historic all-time high above $100,000 earlier, followed by a plunge toward $98,000 moments ago.
As CryptoPotato reported earlier, the move above $100K followed Donald Trump’s decision to make Paul Atkins the new Chairman of the United States Securities and Exchange Commission. In the words of the President-elect himself:
“Paul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. […] He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
The price skyrocketed and reached a

Shiba Inu’s blockchain underwent a considerable upgrade today. The Heimdall and Bor hard forks are live. They aim to improve performance and stability and include an upgradeable burn contract.
The Heimdall Hard Fork
According to the official documentation, the latest version of the Heimdall upgrade, namely v1.07-bone has been released for the Shibarium blockchain.
Amid the numerous features of the upgrade are:
Documentation enhancements
Improvements to code validation
Dependency upgrades;
Bug fixes, etc.
Following the hard fork, validators on Shibarium have to upgrade to the version before the Dencun hard fork takes place on Bor. This would ensure compatibility with Ethereum (after its fork) by updating the bor package to v.1.3.7, which is now capable of handling blob

Bitcoin’s price experienced what many in the industry refer to as a “flash crash” on the largest cryptocurrency exchange in South Korea—Upbit. It dropped to a low of around $61,500 (its equivalent in Korean Won) and immediately recovered.
Source: TradingViewAs you can see in the 1-minute chart above, the whole fiasco took less than 15 minutes, during which time Bitcoin’s price crashed to 88,260,000 KRW. This represented a decrease of around 30%, realized in less than a few minutes. Almost immediately after that, the cryptocurrency recovered.
The primary reason for this price action seems to be the announcement that South Korea’s president, Yoon Suk Yeol, declared martial law during his speech in Seoul just a few moments ago.
The political turmoil in the country has caused

It was a crazy week in the cryptocurrency industry, filled with a lot of volatility, a resurgance that the entire community was debating about, as well as the story of the underdog coming back at it. Let’s dive in.
First, we have Bitcoin. Its price tried to breach $100K last weekend on numerous occasions, but it turned out that the sell wall there was just too big for the bulls to overcome. That ultimately took its toll, and the price crashed, reaching almost $90K during the week. That’s when things started to get funny. The sentiment was completely from less than a week ago when BTC breached $90K for the first time.
Nevertheless, the price didn’t spend much time at these lows as the bulls were quick to regroup and started pushing forward. At the time of this writing, BTC

The Chairman of the US Securities and Exchange Commission, Gary Gensler, took to X to announce that he will be stepping down from his position on January 20th, 2025.
Gensler published a thread on his account on X, confirming what many already suspected. He will step down from his position on January 20th – the day Donald Trump is to be inaugurated as the 47th President of the United States.
“The SEC is a remarkable agency. The staff & the Commission are deeply mission-drive, focused on protecting investors, facilitating capital formation, & ensuring that the markets work for investors & issues alike. The staff comprises true public servants.” – Gensler said.

On January 20, 2025 I will be stepping down as @SECGov Chair.
A thread ⬇️
— Gary Gensler (@GaryGensler) November

Despite lagging behind this week’s frontrunners for a while, XRP’s price is finally catching up. It increased by around 15% in the past 24 hours, becoming one of the best performers from the top 10, second only to none other than Dogecoin.
At the time of this writing, XRP is trading above $0.7 – a high last seen in March this year.
Source: TradingViewWith this, its total market capitalization currently sits at $40 billion. This latest surge comes as Bitcoin’s price charted another all-time high at $90,243.
As CryptoPotato reported, some popular analysts are now calling for XRP’s price to reach $2 before the end of 2024. One analyst said last month that tremendous moves are incoming as soon as XRP trades above $0.66, and this seems to be the case now.
“We then set an

Bitcoin’s price seems to be on the verge of achieving a new all-time high in a massive rally leading up to the US Presidential elections.
The price managed to get as high as $73,600, which is less than $200 away from a new peak.
Source: TradingViewThis has caused considerable turmoil in the derivatives market, leaving over $110 million worth of short positions underwater. At the time of this writing, the price has now retraced below $73,000, trading at an increase of over 4.2% during the past 24 hours alone.
It’s also worth noting that the total trading volume for spot Bitcoin ETFs in the US today reached a whopping $3 billion.
This rally comes days before the country’s most important political event: the presidential elections, which are scheduled for November 5th.

Bitcoin’s price took a turn for the worse in late Monday evening in Europe. The sellers have reappeared and established control, pushing the cryptocurrency below $67,000, losing about 2.5% in the past 24 hours.
The move has pushed the total liquidations in the derivatives market to about $200 million. In the past four hours alone, almost $70 million worth of leveraged positions—the majority of them long — were wiped off the market.
Source: CoinglassThis latest move caused a lot of uncertainty in the market, with many wondering whether the rally to a new all-time high is put on pause.
Some popular traders such as X user Emperor even suggested that a further decline to $62,000 might be in the cards.

Bitcoin Price Update
1. Backtest of $66,000 level held and we moved higher.

Bitcoin’s price exploded above $63,000 today, reaching a local high at around $63,400. Even though it has since retraced to where it currently trades at $62,700, this is still a considerable increase of 4% for the past 24 hours.
Source: TradingViewIt’s also important to note that Bitcoin has managed to outperform the rest of the leading cryptocurrencies, which are charting marginal gains.
So, what are the reasons for this recovery? What could be driving the BTC price up in the past couple of days?
Well, reason number one might as well be the fact that Mt. Gox has pushed its repayment deadline to October 31st, 2025. Previously, this deadline was October 31st, 2024. According to the official notice:
As it is desirable to make the Repayments to such rehabilitation creditors

After a few days of depressing price action, the bulls appear to be finally back in town. The cryptocurrency market added almost $70 billion to its total capitalization over the past 24 hours.
This happened on the back of Bitcoin charting a notable recovery in the past 24 hours, bouncing up to $63,000, so let’s have a look.
Bitcoin’s Price Stages a Recovery
Just a couple of days ago, Bitcoin tumbled below $60,000 and even briefly dipped below $59,000.
Fortunately, the bulls were very quick to recover and managed to stage an impressive rally, which peaked at around $63,400 earlier today. The price has since retraced a bit to where it currently trades, but BTC booked a 3.4% increase throughout the past 24 hours nonetheless.
Source: TradingViewIt’s worth noting that Bitcoin

The cryptocurrency market has seen better days.
Bitcoin’s price hovered at the $62,000 range for a few days, but it appears that the bears were finally able to take full control.
Just a few moments ago, BTC dropped below $59,000, reaching a local low of $58,867.
Source: TradingViewThe move has resulted in the liquidation of more than $250 million in leveraged positions, the majority of which, of course, is long.
As CryptoPotato reported earlier today, Bitcoin’s price reacted negatively to the announcement of higher-than-expected CPI numbers. The Consumer Price Index is a gauge for inflation in the United States. An increase essentially means that the Federal Reserve might not cut rates again in November, which is bad news for risk-on assets such as Bitcoin.

You Might

There’s been no shortage of news over the past seven days. During this period, the total cryptocurrency market capitalization managed to add close to $140 billion. This happened on the back of significant gains charted by the majority of coins, so let’s take a closer look.
First things first, the long-anticipated rate cut is now a fact. The US Federal Reserve announced on Wednesday that it is decreasing interest rates by 0.5%, a considerable move that sent ripples across all financial markets, and crypto was no exception.
Bitcoin’s price exploded on the news and reached $64K on the day after. This brings its total gains for the weeks to 7.9%, at the time of this writing. It’s worth noting that the bulls were unable to sustain the positive momentum and the sellers are

Bitcoin’s price is still consolidating around the $60K level. Yet, an impulsive move might begin soon.
Technical Analysis
By Edris Derakhshi (TradingRage)
The Daily Chart
On the daily timeframe, it is evident that the price has yet to climb back and recover definitively above the $60K level after its rapid rejection and drop from the 200-day moving average, located around $63K.
Following the recent rebound from the $52,500 level, the price has once again tested the pivotal range. This is important because for the market to begin a new rally, both $60K and the 200-day moving average should be broken to the upside first.
Source: TradingViewThe 4-Hour Chart
Looking at the 4-hour chart, the price is in a critical area, as it is testing a bullish trendline which has been

Ethereum remains in a downward trend, with price action showing insufficient bullish momentum for a reversal.
In the near term, the cryptocurrency is likely to enter a consolidation phase within a critical range, with mild bearish retracements seeming far more likely.

By Shayan
The Daily Chart
On the daily chart, Ethereum has been in a sustained downtrend since getting rejected at its yearly high of $4K. The price has consistently formed lower lows and lower highs, creating a descending channel that reflects the overall bearish market sentiment. This pattern highlights the pessimism among market participants regarding ETH’s broader trajectory.
Recently, the price was rejected at the channel’s middle boundary around $2.7K, leading to another bearish retracement.
Currently,

The cryptocurrency markets have remained relatively calm in the past 24 hours, with most coins trading flat. Their total capitalization is currently around $2.2 trillion.
Bitcoin’s Price Flirts With $60K
The BTC price didn’t experience significant volatility during the past 24 hours. At one point, the bears attempted to push it toward $59.5K, but the bulls were quick to intervene and recover above $60K, where it’s currently trading.
All in all, this concludes a week of positivity for BTC, during which its price increased by more than 10%.
Source: CoingeckoThe lack of volatility is also seen in the relatively low number of liquidations in the derivatives market. At the time of this writing, it’s $43M, with Bitcoin and Ethereum accounting for most of it.
Altcoins Calm Down

Bitcoin’s price is back above $58K, registering an increase of around 3% in the past 4 hours alone.
As CryptoPotato reported earlier today, the market had shed some $100 billion off its total market capitalization as the BTC price dropped to a monthly low of under $56,000.
Most of the altcoins followed suit, trading deep into red territory. ETH plunged to $2,400, while BNB bears were able to push the price toward $510.
Fortunately, the bulls woke up and are now erasing much of the gains. At the time of this writing, BTC trades at $58,400 and most of the losses from the drop earlier are gone.
Source: TradingViewData from Coinglass reveals that this volatility has resulted in almost $200 million worth of liquidations in the past 24 hours.

Some analysts have noted that the

The advancement of AI-based solutions in 2024 is undeniable, and we decided to poke OpenAI’s ChatGPT on a topic that’s quite interesting for many cryptocurrency enthusiasts.
Ripple and Cardano both have devoted communities, and it’s interesting to see what an impartial AI chatbot considers when determining which crypto will perform better throughout the rest of the year.
So, we asked it:
Source: ChatGPTChatGPT returned four reasonably interesting arguments, but before we take a look at them, let’s see how XRP and ADA prices did so far in 2024.
XRP vs. ADA Year-to-Date Price Performance
At the time of this writing, XRP’s price is trading at slightly below $0.60, charting a 2% decline on the day.

Interestingly enough, the price has remained flat throughout 2024 so far. On

Artificial intelligence has been one of the hottest topics in the cryptocurrency industry (and well beyond it) for more than a year now, and many teams are looking for ways to leverage their tech stack and build off of AI.
Charles Hoskinson, the founder of Cardano, recently took to X to share his thoughts on which network might be the best for AI-based applications.
Under the hood, Algorand’s tech combined with a useful proof of work turned to AI interface would make it the greatest decentralized powerhouse our industry has seen. It would be cool to see it become a partnerchain and push Minotaur to its limits. – Tweeted Hoskinson.
To those wondering, Minotaur is a consensus algorithm that the Cardano team put forth in November 2022. It’s a resource-based consensus that’s

The cryptocurrency market exploded in the past 24 hours. Almost all of the cryptocurrencies are trading in the green, and Ripple’s XRP is no exception.
Now, a popular analyst has come up with a rather bullish price prediction, but some other metrics are also worth watching.
Ripple (XRP) Price Can Go Crazy
According to DustyBC, a well-known analyst with over 150,000 followers on X and across other channels, the XRP price could go “crazy.”
His chart, although rather simple, shows XRP trading towards the upper boundary of a flag pattern, which, if broken to the upside, could propel a move toward $2. This would mark an increase upwards of 3X from the current level.
Source: XAs CryptoPotato reported yesterday, XRP’s gains topped 9% on a weekly basis, and the bias is leaning

Ethereum has been facing significant resistance at the $2.8K level, which marks the lower boundary of a multi-month wedge pattern.
The price action suggests that it might be completing a pullback, potentially driving the price down toward the $2.1K threshold.

By Shayan
The Daily Chart
Ethereum has been grappling with the multi-month wedge’s lower boundary at $2.8K for several weeks, suggesting a possible pullback completion.
After retracing toward this key resistance level, the price has entered a period of slight consolidation, reflecting insufficient market demand. The low-volatility action near this resistance suggests that the pullback might be nearing its end.
Given the significant supply pressure around the $2.8K mark, a rejection could lead to a decline toward the

It’s been an exciting seven days in the cryptocurrency market, which gained over $100 billion throughout the period. In what seems like a breath of fresh air, we are finally seeing some meaningful signs of recovery following weeks of turmoil and depressing price action.
The total capitalization is currently hovering slightly below $2.3 trillion, and it comes on the back of predominantly positive performance on behalf of the majority of cryptocurrencies.
Bitcoin’s price, for once, increased by 5.2% over the last week and is currently testing $61K. The leading cryptocurrency even increased above $62K for a brief moment, but the bears were quick to intercept and pushed it back. In any case, this is good news for long traders, given that at this time last week, BTC was trading

Much like the rest of the cryptocurrency market, XRP also went on a wild ride in August. The altcoin went through a serious crash in its value at the beginning of the month but the bulls were able to stage a v-shaped recovery, as illustrated in the chart below.
Source: CoinGeckoWhile XRP’s price is moving more or less in line with the market, the total value locked within the protocol has recently crashed massively.
Value Locked in XRPL Plummets 97%
The total value locked within a protocol is a metric that can provide various insights. The thing is, though, each blockchain is built with a different purpose, and it’s important not to rush to any conclusions based solely on TVL.
That said, data from the popular analytics platform DeFiLlama reveals that TVL in XRPL (the

Blockchain technology is unique! Where else can you track the holdings of big investors in real time, check out their latest moves, portfolio values, and more?
We’ve decided to dabble into some of the larger holders of one of the most popular meme coins in the market – Shiba Inu (SHIB) and stumbled upon an interesting finding.
Government Holding Shiba Inu (SHIB)?
Data from the popular crypto resource firm Arkham reveals that the US Government is one of SHIB’s large holders.
Apparently, the country holds almost 55 billion SHIB tokens valued at around $740,000 at current prices.
It’s worth noting that the US Government hasn’t actually bought or invested in the meme coin but rather confiscated the token as part of some of its law enforcement operations.

A better-known fact

The broader meme coin category has declined throughout the past seven days, charting a drop of almost 8% across all the coins that are tracked (on CoinGecko).
And while DOGE and SHIB are not amongst the worst performers, they are still down more than 7% on the weekly.
The last 30 days have been quite challenging for SHIB, especially as the meme coin is down almost 22%, and the chart looks worrisome.
Source: CoinGeckoAs you can see from the chart, the volume is also dwindling, but this is far from being the most worrying signal for SHIB bulls to consider.
Shiba Inu (SHIB): 4 Worrying Signs
IntoTheBlock has aggregated multiple on-chain and exchange signals for Shiba Inu (SHIB) that could potentially trouble the price.

The summary is that the current sentiment is “mostly

The cryptocurrency market is going through a rough patch at the moment, with many coins withdrawing from their respective yearly highs.
According to the popular cryptocurrency Fear and Greed Index, the market is currently in a state of “Extreme Fear,” indicating the ongoing uncertainty among participants.
Source: Alternative.meThat said, we decided to have some fun with ChatGPT and ask one of the more pressing questions, comparing three of the most popular altcoins as of late: XRP, SHIB, and ADA. Which one will perform better in 2024? Let’s find out what the chatbot had to say.
A Brief Overview
Before we discuss ChatGPT’s statement, though, let’s examine the current price performance of these three cryptocurrencies.
Ripple’s XRP is currently trading at around $0.56, having

The Shiba Inu team has come up with an important announcement that’s integral to the ongoing and long-term development of the project.
In a tweet from August 16th, the team said that the long-awaited community Burn Portal is now live.
Introducing Shib Torch!
The long-awaited community Burn Portal is now live. Every Shibarium L2 transaction now helps burn SHIB, reducing the total supply.

Introducing #ShibTorch!
The long awaited community Burn Portal is now live. Every #Shibarium L2 transaction now helps burn $SHIB, reducing the total supply.
Start burning today https://t.co/NL6HAkE90j
— Shibarium Network (@ShibariumNet) August 16, 2024

It’s worth noting that this is not an update in terms of core functionalities of the network because Shiba Inu has been burning tokens for

The broader cryptocurrency market lost around $70 billion in capitalization in the past seven days as the majority of the coins are trading in the red. This comes on the backs of considerable drops in the past few days, so let’s dive in.
Starting with Bitcoin, the price was trading above $60K this time last week, and a push above $61K was even attempted during the weekend. As soon as Monday came, though, the bears took control and pushed the price below $59K. Buyers had an unsuccessful shot at recovery, and things went south on Wednesday when the price plummeted below $59K once again.
Yesterday, the bears continued their offense, pushing BTC all the way down to $56,200 on some exchanges, triggering over $200 million worth of liquidated derivatives positions. The buyers

Meme coins have undoubtedly been the most prominent narrative in 2024. From the meteoric rise of dogwifhat (WIF) to countless celebrities launching their own coins (and the controversy that surrounded them), the field has seen all the action.
With most of it happening on Solana because of its fast transaction processing times and relatively low fees, we’ve been used to seeing the majority of new launches happening over there.
But is this about to change?
Meme Coins Coming to TRON?
Data from the popular analytics resource Lookonchain revealed that a trader has managed to recently pull off gains upwards of 100x, buying 6.87M SUNDOG tokens for $650 and selling them for more than $68K merely seven hours later.
The trader continues holding another $76K worth of the meme coin.