Other evidence suggests that the SEC will likely delay the approval of spot Ether ETFs, while Hong Kong will start trading such products next week.

The crypto bull market is well underway, with activity in the VC and early-stage funding sector mounting over the last few weeks as the highly anticipated Bitcoin halving approached. And, as the post-halving phase begins, increasing numbers of new projects are expected to come to market in search of funding. Indeed, the beginning of this […]

The BNB Chain core development team said the move aims to streamline the network and improve efficiency.

Stellar (XLM), a prominent player in the digital asset landscape, is experiencing a surge in optimism as analysts forecast a significant price increase in the near future. The cryptocurrency, currently priced at $0.1126, has demonstrated stability amidst market fluctuations, attracting investor interest and propelling a potential bullish trend. Source: Coingecko Related Reading: Solana Market Cap Skyrockets $11 Billion As Price Jumps 17% – Details Stellar Breaks Out Of Technical Pattern This newfound optimism stems from a recent technical breakout. XLM successfully emerged from an Ascending Triangle pattern, a bullish indicator that often precedes price surges. This breakout was further bolstered by a retest of the breakout level, solidifying the potential for an upward trajectory. Technical analysts are leveraging the measured move technique to predict XLM’s future price movement. This analysis suggests a target range spanning from 0.38 to 0.47 cents, aligning with Fibonacci levels 0.70 to 0.78. This range signifies substantial growth potential, enticing investors seeking profitable opportunities. Total crypto market cap currently at $2.2 trillion. Chart: TradingView Investor Confidence On The Rise Beyond technical indicators, investor confidence is playing a significant role in Stellar’s projected rise. The recent 2.50% price increase over the last 24 hours underscores this growing momentum. This shift in market sentiment indicates a bullish trend, potentially leading to a notable price appreciation in the coming months. Analyst Projects Stellar To Reach $0.47 Adding fuel to the fire, crypto analyst EGRAG CRYPTO recently shared a bullish forecast for XLM’s price trajectory. The analyst predicts a surge towards a promising target of $0.47, highlighting the potential for substantial growth. This bullish sentiment resonates with investors and enthusiasts, further bolstering confidence in Stellar’s future. #XLM Rockets Towards 0.47c! 🔥 #XLM has successfully broken out of the Ascending Triangle and is currently retesting the breakout level. This sets the stage for a potential bullish move. 📈 The measured move suggests a target range between Fib 0.702-0.786 (0.38-0.47c),… pic.twitter.com/bmezGMnrTI — EGRAG CRYPTO (@egragcrypto) April 23, 2024 The analysis digs deeper, identifying key Fibonacci retracement levels as crucial milestones for XLM. These levels not only serve as potential profit-taking targets for investors but also signify the strength of the upward momentum. XLM seven-day price action. Source: Coingecko Interestingly, the analysis suggests that XLM has the potential to surpass traditional technical indicators. Should the cryptocurrency surpass the formidable Fib 1.618 level, it could embark on a remarkable ascent, exceeding expectations and venturing into uncharted territory. Market Volatility Warns For Caution While the outlook for Stellar appears promising, it’s crucial to remember the inherent volatility of the cryptocurrency market. Unforeseen events and market fluctuations can significantly impact prices. Related Reading: Negative Nirvana? Decoding The First Bitcoin Funding Rate Dip Of 2024 Despite the inherent risks, the technical indicators and growing investor confidence paint a compelling picture for Stellar’s future. As the digital asset landscape continues to evolve, Stellar’s potential for significant growth is undeniable. Featured image from Pexels, chart from TradingView

Nigeria’s president appointed the new SEC Chair to regulate the capital market, bolster investor confidence, and advance economic development.

The tax authorities of Australia and Indonesia have signed a memorandum of understanding to share information on cryptocurrency. Under this agreement, both entities will exchange data on crypto assets and share knowledge to ensure adherence to tax obligations. Agreement Underscores Two Countries’ Willingness to Adopt The Australian Taxation Office (ATO) and its Indonesian counterpart have […]

Chainlink Labs’ director of capital markets said that enhancing tokens with real-world data could unlock better applications than traditional finance.

Liquidation levels form an increasingly large cloud above BTC spot price as Bitcoin rests near $64,000.

Crypto analysts are sounding the alarm on Dogecoin as a classic chart pattern, known for predicting bearish trends, has emerged. Technical analyst Josh Olszewicz, @CarpeNoctom, flagged a potential Head and Shoulders (H&S) formation on the DOGE/USD 12-hour chart on X, hinting at a possible significant price drop if the pattern validates. The H&S pattern is a technical indicator traditionally viewed as a bearish signal within the trading community. The pattern is composed of three peaks, with the central peak (the head) being the highest and the two outside peaks (the shoulders) being lower and approximately equal in height. The line connecting the lowest points of the two troughs (the neckline) can be horizontal or sloped and represents a critical support level. Dogecoin Must Hold $0.14 In the case of Dogecoin’s 12-hour chart, the price has completed the left shoulder and the head, with the right shoulder currently forming. The neckline of this H&S pattern is identified at approximately $0.14, as annotated by Olszewicz. This level is crucial; a decisive break below could confirm the bearish forecast suggested by the H&S formation. Another technical detail present on the chart is the Fibonacci retracement levels, which are horizontal lines indicating where support and resistance are likely to occur. They are based on Fibonacci numbers, a sequence famous in mathematics and nature for its proportionality. Related Reading: Expert Forecasts 700% Growth For Dogecoin (DOGE) As It Sets Sights On $1 Target Here, the 0.5 Fibonacci level aligns with the left shoulder around $0.18, while the 0 level coincides with the peak at approximately $0.23. These levels are key to determining the potential support and resistance areas in the market. Olszewicz has also highlighted a projected target area based on the H&S pattern’s typical behavior. This bearish target is identified using the height of the pattern from the head’s peak to the neckline, projected downward from the point of the neckline break. The target box, marked in green, shows a potential decline to $0.10 to $0.09, coinciding with the 1.618 and 2.0 Fibonacci extension levels. A fall to this level could lead to a price crash of 40%. The importance of the H&S pattern lies in its reliability as a trend reversal signal. It validates when the price breaks below the neckline following the formation of the right shoulder. For traders and investors alike, this pattern serves as a cautionary tale to brace for potential downside risks. Related Reading: Dogecoin To $1: Analyst Thinks Dream Milestone Could Be Hit In Coming Weeks As of the latest chart by Olszewicz, the neckline has not been breached, and the pattern has yet to be confirmed. It is critical for observers to watch the $0.14 level closely, as a break below it would likely activate a sell-off, fulfilling the H&S prophecy. However, until such a break occurs, the pattern remains a watchful indicator rather than a confirmed trend reversal. In summary, Dogecoin’s price chart is showing signs that could concern bullish investors. If history is any guide, the emerging H&S pattern, closely watched by analysts like Olszewicz, suggests a possible downward move in Dogecoin’s value in the near future. However, only a decisive break below the neckline will validate this pattern, turning a watchful eye into a bearish outlook. At press time, DOGE traded at $0.1509. Featured image created with DALL·E, chart from TradingView.com

The recent Bitcoin halving event, which cut the block reward for miners in half on April 20, 2024, has sparked a wave of optimism in the cryptocurrency market. While a brief dip in a key futures metric hinted at potential short-term bearishness, overall market indicators suggest a bullish trend taking hold. Related Reading: Solana Meme Coin Massacre: 12 Projects Gone In 30 Days, $27 Million Vanished Analysts at Kaiko, a market data provider specializing in crypto derivatives and futures, reported a shift in Bitcoin’s funding rate leading up to the halving. The funding rate is a fee paid between long and short position holders in futures contracts. A negative rate signifies that short positions are compensating long positions, potentially indicating a bearish outlook. Notably, Bitcoin’s funding rate dipped into negative territory for the first time this year on April 18th, just two days before the halving. Bitcoin Bounces Back With Renewed Bullishness However, this short-lived bearishness seems to have been overshadowed by a broader sense of optimism. Following the halving, Bitcoin’s funding rate swiftly recovered and currently sits at a positive 0.0051. This suggests a return to the status quo where long positions are incentivized, reflecting a more bullish market sentiment. Funding rates for $BTC perps turned negative for the first time since late 2023 in the lead up to the halving. pic.twitter.com/MjiU4C1L5m — Kaiko (@KaikoData) April 24, 2024 Further bolstering this positive outlook is the uptick in Bitcoin’s Open Interest (OI), a metric that represents the total amount of outstanding futures contracts. Despite a dip last week, OI has since rebounded to over $17 billion, indicating continued investor engagement in the Bitcoin market. Bitcoin is now trading at 64.250. Chart: TradingView Halving Impact Exceeds Historical Trends Perhaps the most intriguing finding from Kaiko’s analysis is the suggestion that this halving event might be having a more positive impact on Bitcoin’s price compared to previous halvings. At the time of the report, Bitcoin was up 2.8% since the halving, exceeding the price increases observed immediately after the 2012, 2016, and 2020 halving events. Despite a slight price correction in the following days, Bitcoin remains nearly 3% up since the halving. Related Reading: Solana Market Cap Skyrockets $11 Billion As Price Jumps 17% – Details However, analysts caution against drawing definitive conclusions from this initial data. The cryptocurrency market is inherently volatile, and short-term fluctuations are to be expected. Some experts point to historical trends where price increases following a halving event were often followed by periods of consolidation or correction. The true impact of the halving on Bitcoin’s long-term price trajectory might not be fully evident for several months. Bullish Sentiment Fueled By Macroeconomic Factors Beyond technical indicators, some analysts believe that broader macroeconomic factors are also contributing to the current bullish sentiment surrounding Bitcoin. The ongoing global inflationary pressures and geopolitical uncertainties have driven investors towards assets perceived as hedges against inflation. Bitcoin, with its finite supply due to the halving mechanism, fits this profile for some investors. Additionally, the increasing institutional adoption of cryptocurrency is seen as a positive sign for Bitcoin’s long-term prospects. Major financial institutions are actively exploring ways to offer Bitcoin exposure to their clients, suggesting a growing level of confidence in the asset class. Featured image from Pexels, chart from TradingView

The original scrawled sign was auctioned off by “Bitcoin Sign Guy” Christian Langalis for 16 BTC after apparently sitting in his sock drawer for years.

Runes continues to make up the vast majority of Bitcoin transactions, however the fees earned by Bitcoin miners from Runes has slightly tailed off since the record-setting halving day.

The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $5.3 billion as part of the final judgment against the two defendants. This sum includes $4,192,147,847 in disgorgement and $545,748,909 in prejudgment interest. SEC Seeks Final Judgment Against Terraform Labs and Do Kwon The […]

President Biden’s move to introduce a 44.6% federal capital gains tax probably wouldn’t affect most people in crypto, according to crypto tax commentators.

Solana attempted a recovery wave above the $140 level. SOL price is now struggling to clear the $160 and $170 resistance levels. SOL price recovered higher and tested the $160 resistance against the US Dollar. The price is now trading below $160 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $146 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could start another decline if it stays below $160 and $170 for a long time. Solana Price Faces Resistance Solana price started a major decline below the $170 and $160 support levels. SOL tested the $115 zone and recently started an upside correction, like Bitcoin and Ethereum. There was a decent increase above the $130 and $140 levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $205 swing high to the $115 low. It even spiked above the $155 zone and the 100 simple moving average (4 hours). However, the bears are active near the $160 zone and the 50% Fib retracement level of the downward wave from the $205 swing high to the $115 low. The price struggled and corrected gains. Source: SOLUSD on TradingView.com Solana is now trading below $160 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $146 on the 4-hour chart of the SOL/USD pair. Immediate resistance is near the $155 level. The next major resistance is near the $160 level. A successful close above the $160 resistance could set the pace for another major increase. The next key resistance is near $170. Any more gains might send the price toward the $188 level. Another Decline in SOL? If SOL fails to rally above the $160 resistance, it could start another decline. Initial support on the downside is near the $145 level and the trend line. The first major support is near the $132 level, below which the price could test $120. If there is a close below the $120 support, the price could decline toward the $100 support in the near term. Technical Indicators 4-Hours MACD – The MACD for SOL/USD is gaining pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $146, and $132. Major Resistance Levels – $155, $160, and $170.