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.

Following a significant downtrend, Bitcoin found strong support near the $50K threshold and experienced a notable rebound.
However, the price has now approached a substantial resistance region around the 200-day moving average at $61K, potentially completing a pullback.
Technical Analysis
By Shayan
The Daily Chart
A detailed examination of Bitcoin’s daily chart reveals a significant increase in buying pressure and demand near the critical $50K support region, resulting in a substantial bullish rebound.
Subsequently, BTC surged back toward a key resistance region, encompassing the 200-day moving average at $61K and the psychological resistance at $60K. This key area is likely filled with supply, which may result in substantial selling pressure and halt further upward

This week saw one of the most dramatic crashes in the cryptocurrency market—one that we hadn’t seen since the collapse of FTX in November 2022. What is even more interesting was the epic recovery of the majority of coins in the following days. Ultimately, the market ended up losing some $70 billion of its total capitalization, but it could have been much, much worse.
Starting with Bitcoin, in the early days of this week, its price nosedived below $50K, losing more than 20% in just two days. The move started on a Sunday when the liquidity in the market is traditionally thinner, and it’s a lot easier to impact pricing. On-chain data showed that one of the most active sellers was Jump Crypto – the cryptocurrency arm of Jump Trading – one of the leading market makers and a

Ripple has been fined $125 million in the lawsuit against the United States Securities and Exchange Commission. This is just a fraction of what the SEC had previously asked for in the case.
The fine that Judge Analisa Torres settled on is far less than the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalty the SEC sought.
XRP investors have seen this as a positive for the firm and the cryptocurrency, which exploded by more than 20% immediately after the news broke.
Source: CoinMarketCap“The SEC’s motion for remedies and the entry of final judgment is granted in part and denied in part. […] The Court shall enter a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150.” –

In a candid conversation during EthCC, Greg Osuri, the founder of Akash Network, shares insights into his journey, Akash’s inception, and the future of decentralized cloud computing.
Osuri’s venture into the world of decentralized cloud computing began long before Akash Network.
Osuri, an experienced entrepreneur, first made waves with AngelHack, the largest hackathon-based accelerator globally.
“Before AngelHack, hackathons were a very underground concept, and we made them more mainstream,” he reflects.
Through AngelHack, he helped launch numerous companies, including Firebase, which was later acquired by Google.
In 2013, Osuri encountered a significant challenge in the tech ecosystem: scaling deployments from small hackathon projects to robust, scalable solutions.
“At a

Bitcoin’s price has been on a rollercoaster throughout the past couple of hours, largely induced by the anticipation of and subsequent speech of former US President and current Presidential Candidate Donald Trump at Bitcoin 2024 in Nashville.
The price initially nosedived below $67K from an intraday high at above $69K before the speech.
Source: TradingViewUpon the end of Trump’s speech, the price started to recover, coinciding with a few important statements that the made.
He pledged that should he be elected, he will immediately cease the “war” on crypto initiated by the Biden administration. He also pledged to fire the Chairman of the United States Securities and Exchange Commission – Gary Gensler – on day one. This was met by a lot of cheering from the audience.
Donald

The 2024 US presidential elections are arguably one of the most important political events that the entire world is watching.

Donald Trump, the former president and current Republican candidate, has gone live on the stage of Bitcoin 2024, a BTC-centered conference held in Nashville. He has spent recent weeks trying to make amends with the cryptocurrency industry, having met with some of the largest Bitcoin mining companies and others.
Speaking live at Bitcoin 2024, he said the primary cryptocurrency is likely to overtake gold at some point and praised it for being one of the largest assets in the world. He said the crypto field is still in its infancy and compared it to the steel industry.
In addition, Trump also said that he wants the US to become the crypto capital of

It’s been an interesting week for the cryptocurrency industry. Although its total capitalization has remained largely unchanged, a lot has happened that deserves our attention, so let’s get into it.
Right off the get-go, the United States Securities and Exchange Commission finally gave the last regulatory nod of approval for spot Ethereum ETF issues to launch their products. This was a highly-anticipated moment for many ETH investors, but the price took a nosedive following the launch. It’s important to note that ETH ETFs generated over $1 billion of trading volume on each of the first couple of trading days, which accounted for roughly 20% of the volume that BTC generated. This was in line with the experts’ expectations.
However, in the three days since the ETF began

As yet another week passes, we will examine some of the best-performing cryptocurrencies over the past seven days.
It’s safe to say that the week has treated the markets well, with the total capitalization growing to $2.55 trillion, adding over $150 billion. This comes on the back of impressive performances on all fronts, so let’s first start with Bitcoin.
Bitcoin Soars 11% in Impressive Recovery
Despite not being the top performer, Bitcoin surely made waves in the past seven days, surging by a whopping 11% in the process.
As you can see in the chart below, it’s been mostly up only since July 14th, when the BTC price took off.
Source: TradingViewThe price tried to claim the $68K level yesterday but was unable to do so as the bears stopped the rally preemptively. BTC is now