Markets

Bitcoin (BTC) has reached a new year-to-date high, soaring past $42,000 on December 4. The asset has broken through the upper limit of the trading range it was confined to for weeks, recording its strongest monthly close since March 2022. However, analysts from the cryptocurrency exchange Bitfinex have warned that investors and traders be wary of BTC’s downside risk as a breach of the asset’s three-year Realized Price may result in market capitulation. Investors to be Wary of...

The Deribit exchange has recorded a new yearly high for Bitcoin perpetual futures open interest, a record not seen since BTC’s ATH. The amount of open interest in Bitcoin perpetual futures on the Deribit derivatives exchange has hit a new high of $740 million. This impressive level was last seen in November 2021 when Bitcoin hit its $68,000 all-time high. As of this writing, open interest in Bitcoin perpetual futures has fallen to $717 million. A rise in open interest in Bitcoin perpetual...

As Bitcoin price has rallied past $42,000, the surge in BTC perpetual futures open interest suggests further price rally going ahead. On Monday, December 4, the world’s largest cryptocurrency Bitcoin (BTC) delivered a bullish rally shooting past $42,000. The recent bullishness around Bitcoin revolves around the expectations of a Bitcoin ETF approval in early January 2024. Bitcoin surging past $42,000 is viewed as the beginning of a new crypto supercycle, with enthusiasts predicting it...

ADA price is gaining pace above the $0.3880 zone against the US Dollar. The price is now trading above $0.3920 and the 55 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.3885 on the 4-hour chart (data feed via Coinbase). The price could continue to rise if it clears the $0.4150 and $0.420 resistance levels. Cardano price is rising above $0.380 against the US Dollar, like Bitcoin. ADA price could rally further if...

Ethereum price is moving higher above the $2,200 resistance against the US Dollar. ETH price is now trading above $2,150 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $2,130 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the $2,130 support zone. Ethereum price is rising above the $2,200 level against the US Dollar. ETH/USD could rise further if it clears the...

The individuals accused of orchestrating the $8.5 million hack of Platypus Finance, an Automated Market Maker (AMM) protocol on Avalanche in February 2023, have been cleared of criminal charges by a French court, according to Le Monde. The defendants, identified as Mohammed and his brother Benamar M., were arrested approximately one week after attacking the platform. Defendants Assert ‘Ethical Hacker’ Defense Following the February hack of Platypus Finance, the efforts of...

TL;DR Adam Back, CEO of Blockstream, predicts Bitcoin (BTC) could flip physical gold’s market cap and potentially reach a price of $700,000, possibly during the next halving cycle in 2024. BTC’s current market cap stands at over $800 billion, far from gold’s $14 trillion, but it had previously surpassed $1.2 trillion at its peak in 2021. Other bullish forecasts for BTC come from notable figures like Robert Kiyosaki, Michael Saylor, and Cathie Wood, with predictions ranging...

In a year marked by a massive recovery run in the broader crypto market, the non-fungible tokens (NFTs) sector has displayed a contrasting performance. While industry leaders like OpenSea have historically dominated the NFT space, relatively newer players, such as the Blur NFT marketplace, have emerged as formidable contenders. As of December 3, the Ethereum NFT market experienced a notable uptick in transaction volume, reaching an impressive $34.786 million. This surge...

Ethereum’s price has been blowing past several resistance levels recently. It is currently surging vertically, and the market participants are optimistic that a new bull market has begun. Technical Analysis By TradingRage The Daily Chart The daily chart shows that since the price broke above the 200-day moving average around the $1,800 level and the large bullish flag pattern, the market structure has shifted bullish once again. The $2,000 and $2,150 resistance levels have...

Itau Unibanco, Brazil’s largest bank, has officially entered the cryptocurrency exchange market, launching a trading service for its investment platform clients. The service debuted on Monday and enables users to trade Bitcoin and Ether, the two most popular cryptocurrencies. Itau Expands Crypto Trading with Diverse Portfolio According to a Reuters report, Guto Antunes, the head of digital assets at Itau, revealed that the bank plans to expand its offerings to include other...