Markets

ADA price is attempting a fresh increase from the $0.4650 zone against the US Dollar. The price is now trading below $0.580 and the 55 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $0.5150 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the $0.5600 and $0.5800 levels. Cardano price is holding the $0.5150 support against the US Dollar, like Bitcoin. ADA price...

Ethereum price is eyeing an upside break above the $2,350 resistance against the US Dollar. ETH price is now trading above $2,280 and the 55 simple moving average (4 hours). There was a break above a key bullish flag pattern with resistance near $2,250 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the $2,250 support zone. Ethereum price is consolidating above the $2,300 level against the US Dollar. ETH/USD could rise...

British multinational bank Standard Chartered projects Bitcoin (BTC) to reach $200,000 by the end of 2025 – more than a 300% climb from where it trades today. The bank argued in a Monday research note that Bitcoin spot ETFs – which are expected to receive “imminent” approval – may absorb $50 billion to $100 billion worth of flows within a year. The Upside Potential of Bitcoin ETFs The bank based its inflow estimates on the performance of the first gold ETF to reach the U.S....

BlackRock is reportedly expected to make a significant announcement regarding a substantial downsizing of its workforce. The impending layoffs, which account for about 3% of its global workforce, will result in approximately 600 employees leaving the company. BlackRock to Implement Routine Layoffs The layoffs are being internally described as routine, aligning with BlackRock’s previous practices. In 2023, the company underwent a similar trimming of its workforce based on...

Peculiar occurrences have unfolded just one week into 2024. In a bizarre turn of events within the crypto industry, an anonymous wallet spent 1.5 BTC to inscribe encrypted data onto the Bitcoin blockchain. Through 332 transactions, the wallet exhausted BTC equivalent to $66,000 at current market prices, embedding nearly 9 megabytes of encrypted data into the blockchain. Is this just a coincidental burst of activity, or is there a deeper motive at play? With the anticipation...

Argo Blockchain’s Nasdaq-listed shares (ARBK) experienced an 8.38% decline after the departure of its interim CEO and COO, Seif El-Bakly. According to data from the stock exchange, the drop saw the shares plummet to $3.50, significantly reducing the firm’s market capitalization to $183.7 million. Argo Blockchain Announces El-Bakly’s Departure According to the January 8 Operation Update report, El-Bakly, who had been at the helm of the company since February 2023 after the...

Matrixport has issued a warning predicting a 7% decline for Bitcoin in the next two weeks, citing that “one of its trading signals” has turned bearish for the first time since August 2023. This cautionary outlook from Matrixport follows previous statements by the company’s analysts, who anticipate that the U.S. Securities and Exchange Commission (SEC) will reject all spot Bitcoin (BTC) exchange-traded funds (ETFs) in January. Matrixport Issues Price Drop Warning In a blog...

Stellar lumen price is gaining pace below the $0.120 support zone against the US Dollar. XLM price is now trading below $0.120 and the 55 simple moving average (4 hours). There is a key declining channel forming with resistance near $0.1180 on the 4-hour chart (data feed via Kraken). The pair could extend its decline below the $0.1115 support zone in the near term. Stellar lumen price is trading below $0.1200 against the US Dollar, like Bitcoin. XLM price could...

XRP price started a fresh decline from the $0.600 resistance against the US dollar. The price is now trading below $0.585 and the 55 simple moving average (4 hours). There is a key declining channel forming with resistance near $0.5715 on the 4-hour chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it breaks the $0.532 support zone. XRP price is struggling below $0.600 against the US Dollar, unlike Bitcoin. The price could...

Several crypto exchanges are taking steps to adhere to recently imposed regulations by the UK government. These regulations require crypto entities to inform users about the risks associated with trading digital assets and to promote their services responsibly. These measures have been implemented as part of the Financial Services and Markets Act in the UK, which has expanded its scope to include firms dealing with crypto and stablecoins, subjecting them to the same...