bitcoinlfg

Author: BTCLFGTEAM

  • bulls need to strengthen above $20

    bulls need to strengthen above $20

    • Solana (SOL) price traded to above $20.00, hitting $20.50 after bouncing off $18.40 earlier this month.
    • Can bulls take advantage of positive sentiment for Solana to break higher?

    Solana price has reached a key technical level, with the 24-hour upside to $20.50 retesting a 10-day high that’s an area of a previous support and resistance. With nearly 4% increase in the past 24 hours, Solana is outperforming all the top ten cryptocurrencies by market cap except XRP.

    Bitcoin is back below $27k after latest SEC delays of decisions on multiple spot ETF applications, including that of BlackRock. Ethereum, buoyed by news of listing of the Valkyrie ETH futures ETF to near $1,700, has bounced lower too even as whales position themselves for a likely upswing.

    What’s the outlook for Solana, an altcoin with a market cap of $8.3 billion? 

    SOL price: what next for bulls?

    SOL price’s uptick today comes as SOL bulls plot to stay above an ascending trendline support that’s anchored at the December 2022 buffer zone around $9.60.

    As can be seen on the daily chart below, Solana has bounced higher (not perfect) off the positive trendline. The price action follows this week’s breakout from the downtrend line marked by the decline from July 2023 peak of $32.40.

    Solana price outlook on the daily chart. Source: TradingView

    Earlier today crypto trader Bluntz highlighted the potential for an inverse Head & Shoulder pattern. The pattern’s neckline is $20.30 and the 50-day exponential moving average provides the immediate supply zone $20.22. 

    Holding at or above these levels is crucial to the bulls short term plans, an outlook supported by the daily Relative Strength Index (RSI) in an upsloping view above the neutral  mark.

    The flipside of the above scenario is Solana price breaking lower beyond the $18.80 demand zone. Increased sell-side liquidity in this area could push SOL to around $17.60. From here, bulls may rely on the likely support near $14.50.

    Share this article
    Categories
    Tags



    Source link

  • Bitcoin could rally towards $28k as Shiba Memu’s presale approaches $3.5m

    Bitcoin could rally towards $28k as Shiba Memu’s presale approaches $3.5m

    Key takeaways

    The cryptocurrency market is having a positive end to the week, with prices of most coins and tokens in the green zone. Bitcoin could be heading towards the $28k level soon as market sentiment improves.

    Furthermore, Shiba Memu’s presale is now closing in on the $3.5 million milestone as more investors troop into the project.

    Bitcoin could surge towards the $28k level soon

    The cryptocurrency market is ending the week in a positive manner, with the prices of most coins and tokens currently up by more than 2%. Bitcoin has added more than 2% to its value in the last 24 hours. At press time, the price of Bitcoin stands at $27,094.

    The positive performance comes as oil prices and US Treasury yields recorded a dip in prices, resulting in a weaker US Dollar. If the trend should continue, Bitcoin could see its price rally higher and reach the next major resistance level above $28k in the coming days. 

    What is Shiba Memu?

    Shiba Memu has been gaining interest from investors over the past few months thanks to its unique proposition. This Web3 project seeks to combine the powers of blockchain technology and artificial intelligence to make it easier for individuals and entities to carry out market campaigns.

    In their whitepaper, the team explained that Shiba Memu can handle a wide range of marketing activities, including content creation, marketing, social media advertisement, and creative advertisement. 

    Since Ahiba Memu will be AI-powered, the software can work 24/7, finding the best creative adverts, consuming them and generating superior content marketing. 

    By launching as a meme token, Shiba Memu is riding the popularity wave of meme coin projects in recent years. This is strengthened by the fact that within two years, meme coins saw their market caps grow from practically $0 to $20 billion in 2022. 

    Shiba Memu is differentiating itself from other meme coins by serving as more than just a speculation tool. Shiba Memu is launching with real-world use cases and would allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. 

    The Shiba Memu project will be available to users on the Ethereum and BNBChain blockchains. 

    Shiba Memu’s presale closes in on the $3.5m milestone

    The broader crypto market is currently bullish, and Shiba Memu is not left out as its presale looks set to hit a new milestone. The presale has been going on for three months now, and the team has raised more than $3.4 million. 

    The funds generated via the presale would be used to develop some of Shiba Memu’s products and services. The Shiba Memu AI technology will be the primary product of this project. 

    In their whitepaper, the team said the platform would come with a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

    Click here to find out more about Shiba Memu’s presale event.

    Shiba Memu price prediction

    It is hard to predict Shiba Memu’s price in the medium to long term since the project is still in its presale stage. At the moment, 1 SHMU = 0.030475 USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.030700 USDT per token in a few hours. 

    At the beginning of the presale, SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

    Should you buy Shiba Memu today?

    Shiba Memu could become one of the leading meme token projects thanks to the utility it intends to offer users. By combining AI and blockchain technologies, Shiba Memu could gain massive adoption in the marketing world. 

    The project is still in its early stages, making its token a discount for investors. With the right level of adoption, SHMU’s price could rally over the next few months and years.

    Share this article
    Categories
    Tags

    Source link

  • Maker (MKR), THORChain (RUNE) skyrocket; Bitcoin takes $27k again

    Maker (MKR), THORChain (RUNE) skyrocket; Bitcoin takes $27k again

    • Maker (MKR) and THORChain (RUNE) prices rose sharply as Bitcoin retested $27k.
    • MKR could spike towards $2k while RUNE eyes buy-side liquidity above $2.01

    The cryptocurrency market flipped higher on Thursday, with gains for Bitcoin (BTC) and most altcoins sending the total market cap up by 3.1% as at the time of writing. BTC traded above $27k again, benefiting from overall positivity in risk asset markets.

    With stocks also edging higher following a retreat for yields and oil, two notable performers in crypto were Maker (MKR) and THORChain (RUNE).

    Maker price breaks to highest level since May 2022

    Maker (MKR) broke higher following this week’s impressive gains, trading to intraday highs of $1,542.90 on Coinbase. Bulls were looking for a fourth consecutive green candle on the daily chart, with 24-hour gains of 6% and weekly uptick of 16%. MKR price has jumped nearly 48% in the past 30 days.

    Amid the gains is a surge in on-chain activity, particularly in active address count that stood at a 10-week high as of Thursday. Interest in MKR could see bulls seek out $2,000 – especially if the overall market picture supports further upside momentum.

    Maker (MKR) price chart. Source: TradingView

    THORChain (RUNE) eyes breakout above $2

    THORChain (RUNE) price is one of outperformers today, with the altcoin’s value breaking beyond $1.9 as buying pressure mounted.

    RUNE got rejected at $1.98 on September 18, eventually slipping to lows of $1.65. Today’s gains sees the cryptocurrency pierce the resistance around $1.74, with the 20-day EMA acting as support near $1.72.

    For RUNE, there could be an urgency among buyers if price breaks above $2.01. If the expected buy-side liquidity plays out, we could see RUNE/USD eye $3.

    THORChain (RUNE) price chart. Source: TradingView

    However, while bulls might eye a fresh break to $3.00, they face tough resistance at this week’s supply wall that’s part of a horizontal hurdle that also thwarted buyers in February. A pullback is therefore likely given potential profit taking, in which case the primary support could be in the region of $1.72 to $1.66.

    Share this article
    Categories
    Tags



    Source link

  • Here’s what the U.S. government shutdown may mean for Bitcoin

    Here’s what the U.S. government shutdown may mean for Bitcoin

    what us government shutdown means for bitcoin
    • James Butterfill expects Bitcoin to rally if the U.S. government shuts down.
    • BTC has a history of performing quite well in times of uncertainty.
    • The world’s largest cryptocurrency is already up close to 4.0% today.

    Bitcoin will likely rally if the U.S. government does indeed shut down on October 1st, says James Butterfill – the Head of Research at CoinShares.

    Why may BTC rally on shutdown?

    The world’s largest cryptocurrency by market cap is already up close to 4.0% on Thursday as the U.S. government started sending out notifications to federal employees that a shutdown may be imminent.

    And that rally may extend when the shutdown actually begins, as per CoinShares’ Butterfill.  Because the investors could read the funding lapse as a sign of instability and turn to Bitcoin for refuge.

    This scenario bears resemblance to the debt ceiling stalemate experienced earlier this year, which ended up bolstering Bitcoin prices.

    Bitcoin continues to find a strong support at the $25,000 level.

    U.S. banks still have downside risks

    Note that Bitcoin saw strength when the likes of Silicon Valley and Signature banks collapsed earlier this year. That speaks a lot about its ability to outperform in times of uncertainty.

    And the U.S. financial institutions may not entirely be out of the woods just yet. Martin Gruenberg – Chair of the U.S. Federal Deposit Insurance Corporation (FDIC) recently warned that inflation and higher rates continue to be a significant downside risk for the banking space.

    Another near-term tailwind for BTC could be the approval of a Spot Bitcoin ETF – for which the U.S. lawmakers pushed SEC Chair Gary Gensler just a day earlier (find out more).

    On Thursday, Rob Ginsberg of Wolfe Research also said that Bitcoin was worth investing at its current price.

    Share this article
    Categories
    Tags

    Source link

  • Memeinator (MMTR) hits $200k in presale hours after launch

    Memeinator (MMTR) hits $200k in presale hours after launch

    • The Memeinator (MMTR) has stormed past $200k a day after presale launch as sub-par memes scramble.
    • Targeting meme coin dominance, the Memeinator seeks to leverage blockchain and AI to seek and destroy all the weak meme coins.
    • MMTR will be available on cryptocurrency exchanges and trading platforms at the end of the presale.

    As the broader crypto market slowdown seen over the past few weeks continues to impact altcoins, on-chain data has shown one notable feature of memecoins – a significant drop in trader interest.

    Although Dogecoin, Shiba Inu and Pepe account for the most discussion rates, it appears investor attention is shifting to new projects in this space – and few look primed for the show as is the Memeinator (MMTR).

    $200k presale milestone marks start of Meme “Terminator” reign

    Less than a day after its presale went live, the Memeinator has raised over $237,000 from global investors.

    The first stage, which had the native MMTR token priced at $0.01, quickly sold out as meme coin hunters allocated over $200,000 to the project. MMTR’s price is now up to $0.011 in stage two of the presale, and with interest skyrocketing, could be jumping to $0.012 within no time.

    In terms of tokenomics, the whitepaper details a total supply of 1 billion MMTR, 65% of which will be available to early bird gem hunters via the presale. Interestingly, the team has planned an incremental distribution of presale tokens, giving a chance to those that might miss the early stages of MMTR token sale.

    What is the Memeinator?

    The Memeinator is a new meme coin that descends to the dystopian world of worthless meme replicas with one mission – to seek out and destroy the weak coins ruining the market. It’s a critical mission in an industry that has over 500 meme coins, most of them useless imitations of some of the top picks such as DOGE, SHIB and PEPE. 

    Leveraging blockchain and artificial intelligence, the Memeinator will bring the era of chaos to a close with judgement for every sub-par meme token. 

    As it renders judgement to the smaller coins, the Memeinator will look to tap into an innovative AI-powered marketing tool to target the $1 billion market cap. The next goal will be to build momentum towards challenging meme world top coins, but that will happen once the small dogs and frogs are out of the way.

    Memeinator’s roadmap to dominance

    To achieve its mission, the Memeinator will seek milestones as highlighted on its roadmap. Currently, the presale is part of phase 1 of the new era that includes blockchain development and community building.

    As it charts the course of its expedition, the Memenaitor’s phase 2 will involve the unleashing of the terminator via launch of MMTR on popular exchanges and DEXs. Key partnerships will be sought to add to the traction, with staking and NFTs launch to follow. 

    In stage 3, the Memeinator will be ready to search and destroy weak memes through the launch of Memescanner and the Memeinator game: Warfare. These products bring real utility to the ecosystem.

    Meme domination comes in stage 4 of the roadmap where the world is now rid of all the unworthy memes. The market cap of this token is forecast to have grown to $1 billion, with MMTR listing on the world’s largest crypto exchanges marking the beginning of judgement for the current market’s meme coin big fish.

    Learn more by visiting the project’s website or you can join the presale here to buy Memeinator (MMTR). 

    Share this article
    Categories
    Tags

    Source link

  • Bitcoin holds steady as DXY advance hurts stocks

    Bitcoin holds steady as DXY advance hurts stocks

    • Bitcoin rose to $26,820 on Wednesday, trading in the opposite direction to stocks as the Dollar Index hit a 10-month high.
    • An easing for the DXY could see Bitcoin price strengthen above the $26k base.

    Bitcoin (BTC) defied a surge for the Dollar Index (DXY) on Wednesday, spiking to above $26,820 in early US trading hours. The gains for the benchmark cryptocurrency buoyed the altcoin market, with several tokens seeing decent moves to push the total market cap up by about 1.5%.

    But as the DXY, which measures the greenback’s strength against a basket of other major currencies, hit highs of 106.83 for its highest level since November 2022, stocks moved lower. Alongside the dollar’s strength has been rising yields, with the benchmark 10-year US Treasury yield soaring to a 16-year high of 4.64%. The two-year US yield rose to 5.15%

    It’s a scenario that sees the stock market compound weakness seen over the past week, including Tuesday’s Dow slump that was the biggest in a single day since March.

    US dollar index (DXY) chart from TradingView

    BTC price outlook

    The US dollar index’s upside has historically signaled a bearish outlook for stocks and other risk assets, including crypto. Market intelligence platform says the negative correlation between the dollar index and Bitcoin and S&P 500 has particularly been evident since 2021.

    That should be the perspective, though Bitcoin is showing a resilience above $26k. According to crypto investor Scott Melker, Bitcoin’s performance shows it “has its own life.”

    Meanwhile, Santiment analysts say BTC could see a breakout if the DXY begins to cool off.

    Share this article
    Categories
    Tags



    Source link

  • U.S. lawmakers want SEC to ‘immediately’ approve Bitcoin ETFs

    U.S. lawmakers want SEC to ‘immediately’ approve Bitcoin ETFs

    us lawmakers sec immediately approve spot bitcoin etf
    • Members of the House Financial Services Committee wrote a letter to SEC today.
    • They argued that a Spot Bitcoin ETF is not much different from a Crypto Futures ETF.
    • Bitcoin is still trading around the $26,000 level only at writing on Wednesday.

    All eyes are on Bitcoin today after the U.S. lawmakers urged the Securities & Exchange Commission to “immediately” approve applications it has received for a Spot Bitcoin ETF.

    House Reps. wrote a letter to Gary Gensler today

    On Wednesday, four members of the House Financial Services Committee wrote a letter to Gary Gensler in which they argued that a Spot Bitcoin ETF is not particularly different from a Crypto Futures ETF that the regulator has already approved.

    And so, they urged Chair of the SEC in their letter to allow the likes of BlackRock, Fidelity and several others to list a Spot Bitcoin ETF.

    SEC’s current posture is untenable moving forward … there is no reason to continue to deny such applications under inconsistent and discriminatory standards.

    Chair Gary Gensler is scheduled to testify before the U.S. Congress today.

    Grayscale recently secured a victory against the SEC

    Last month, the U.S Court of Appeals for the DC Circuit ruled that the Securities & Exchange Commission did not have an adequate reason to not let Grayscale convert its flagship bitcoin trust into an exchange-traded fund (find out more).

    That ruling, as per the lawmakers, should be sufficient for Chair Gensler to get onboard with a Spot Bitcoin ETF. Their letter also read:

    A regulated spot bitcoin ETP would provide increased protection for investors by making access to bitcoin safer and more transparent.

    Members that wrote the letter on Wednesday include Reps. Mike Flood, Wiley Nickel, Tom Emmer, and Ritchie Torres. Bitcoin is still trading around the $26,000 level at writing.

    Share this article
    Categories
    Tags

    Source link

  • Stafi (FIS) defies crypto market outlook, token up 13%

    Stafi (FIS) defies crypto market outlook, token up 13%

    Stafi Fis Price Hike
    • Stafi (FIS) price is up 3% in the past 24 hours and 13% this past week.
    • The Staking Finance governance token has seen a spike in whale transactions of $100k+, on-chain data shows.
    • Interest is seeing FIS outperform major altcoins.

    Stafi (FIS), the governance token of the StaFi protocol, has seen a decent spike in the past 24 hours to bring total gains in the past week to more than 13%.

    Currently trading at around $0.29, FIS has outperformed the major cryptocurrencies as they continue to struggle for volatility. All top altcoins by market cap are 2%-5% down in the past seven days, with Bitcoin (BTC) perched above $26k but down 4% in the outlined period. Ethereum, which came under renewed downward pressure following news of Vitalik Buterin’s latest ETH transaction, remains below $1,600 with -3.8% in the past week.

    Why is the price of Stafi (FIS) up today?

    As noted, FIS is a governance token for the Staking Finance, a DeFi protocol that offers access to liquidity of staked assets.

    Other than its use in staking, FIS is used as transaction fees. But traders and investors are increasingly turning to the protocol rTokens, reward tokens that one receives when they stake Proof-of-Stake coins and tokens like Ethereum. These tokens are tradable and act as collateral on lending platforms. In other words, FIS holders have various opportunities of earning, including from staking rewards and lending of rTokens.

    Stafi has recently added rTokens for Polygon (MATIC) and Cosmos Hub (ATOM).

    Interest in FIS has skyrocketed over the past few weeks, reflecting in the token’s price performance. According to data by market intelligence platform Santiment, FIS is among a few smaller cap altcoins to see a significant uptick in whale accumulation.

    Per on-chain data the firm shared on X, whales have been “most active,” in the ecosystems of aelf (ELF), Cream (CREAM), Stafi (FIS) and Linear (LINA). The networks have witnessed a surge in whale transactions involving $100,000 or more.

    “These projects have a higher probability to see big swings this week,” Santiment analysts have noted.

    Share this article
    Categories
    Tags



    Source link

  • MicroStrategy’s latest BTC purchase sets Bitcoin price in motion

    MicroStrategy’s latest BTC purchase sets Bitcoin price in motion

    • Bitcoin is defending the $26k after the recent MicroStrategy’s latest BTC purchase.
    • Concerns over the US dollar’s impact on BTC may be overstated by investors.
    • Coinbase holds about 5% of the total bitcoin in circulation.

    MicroStrategy’s recent acquisition of Bitcoin worth nearly $150 million has made waves in the cryptocurrency market, causing a notable shift in Bitcoin’s price dynamics.

    The move was a demonstration of MicroStrategy, a prominent business intelligence firm led by CEO Michael Saylor, of its strong commitment to Bitcoin. The recent Bitcoin purchase sent ripples throughout the cryptocurrency world.

    A boost to Bitcoin price

    Before MircoStrategy’s BTC acquisition announcement, Bitcoin had briefly dipped below the $26,000 level, around which it has been hovering for a week. However, as soon as news of the purchase became public, Bitcoin price saw a significant upward movement, gaining several hundred dollars in value and hitting a daily high of $26,421.51.

    In addition to MicroStrategy’s purchase, China’s Shanghai People’s Court also recently made a significant announcement recognizing Bitcoin as a distinctive digital currency, despite the country’s established ban on cryptocurrencies. This recognition has garnered attention, notably due to Justin Sun, the founder of Tron, drawing attention to the Shanghai No. 2 Intermediate People’s Court’s recent publication, which outlines key characteristics of Bitcoin.

    The Shanghai court clearly distinguished Bitcoin from virtual counterparts like Q coins, emphasizing its unique attributes. These include Bitcoin’s scarcity, widespread global acceptance, and intrinsic monetary qualities. This acknowledgement represents a notable departure from China’s traditional classification of cryptocurrencies primarily as speculative investments.

    The recognition by the Shanghai People’s Court marks a shift in how Bitcoin is officially perceived within the Chinese legal system. While the ban on cryptocurrencies remains in place in China, this recognition of Bitcoin’s distinct nature as a digital currency signifies a nuanced perspective on its role and significance within the broader financial landscape. It highlights the evolving discourse surrounding cryptocurrencies in China and their potential utility beyond speculation.

    Bitcoin’s resilience

    Despite the volatility in recent weeks, Bitcoin has shown resilience. Last week, it reached a 20-day high at $27,500, only to experience a drop to $26,400 by the end of the business week, partly influenced by the US Federal Reserve’s latest meeting.

    The weekend remained relatively stable, with Bitcoin maintaining a level of around $26,600. However, Monday started on a bearish note, leading to a temporary dip below $26,000.

    MicroStrategy’s announcement acted as a catalyst, helping Bitcoin recover from this low point. While MicroStrategy’s continuous accumulation of Bitcoin strengthens the company’s position as a major institutional investor in the cryptocurrency, it also underscores the growing acceptance of Bitcoin as a valuable digital asset.

    Share this article
    Categories
    Tags

    Source link

  • MicroStrategy purchases 5,445 bitcoins as Chancer’s presale hits $2.2m

    MicroStrategy purchases 5,445 bitcoins as Chancer’s presale hits $2.2m

    Key takeaways

    • Bitcoin continues to trade below $26,500 despite MicroStrategy’s latest BTC purchase.

    • Chancer’s stage two presale has now surpassed the $2.2 million mark.

    The cryptocurrency market began the week in a bearish mode, with prices of most coins and tokens in the red zone over the last few days. However, that hasn’t halted Chancer’s presale as it continues to hit new milestones.

    MicroStrategy purchases 5,445 bitcoins

    Michael Saylor’s MicroStrategy has continued its foray into the cryptocurrency market by acquiring more bitcoins. The company announced the purchase of 5,445 bitcoins on Monday for $147.3 million at the average price of $27,053 per coin. MicroStrategy now holds 158,245 bitcoins acquired for a total of $4.68 billion.

    Despite MicroStrategy’s acquisition of over 5,000 bitcoins, BTC’s price continues to underperform. At press time, the price of Bitcoin stands at $26,273, up by less than 1% in the last 24 hours. Bitcoin has lost more than 2% of its value over the last seven days. 

    What does this mean for Chancer?

    MicroStrategy purchasing more bitcoins could serve as an indicator that more institutional investors have faith in the crypto market despite the ongoing bearish trend. Investors could be looking to purchase more cryptocurrencies and invest in exciting projects ahead of the next bullish cycle. 

    Chancer could be one of those projects thanks to its exciting prospect. The project is currently in its second presale stage and has now raised more than $2.2 million. 

    The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform designed to enable users to live-stream betting events. The project seeks to decentralise the online betting industry by using blockchain technology. 

    When using Chancer, there would be no restriction to betting opportunities for users. This means that users can bet on numerous events beyond the available sports and casino bets. 

    The Chancer presale is in its second stage and has raised over $2.2 million of the $2.5 million required. The funds generated from the multiple presale rounds would be used to build Chancer’s decentralised P2P betting platform. 

    In their whitepaper, Chancer said its users would have access to numerous features such as betting markets in real-time and based on user interests, social media connections, and expertise. 

    Users will also no longer deal with the challenges associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

    With Chancer, users can bet on various activities. This means that users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

    CHANCER to go for $0.013 in the next presale stage

    Chancer’s second presale stage is close to completion, and the team will move to the next phase. In this current presale stage, the CHANCER token is going for $0.012 USDT

    The token price will increase to $0.013 in the third presale round. There would be 12 presale events, with an accumulated target of $15 million. 

    According to the team, the CHANCER token will power numerous activities within the ecosystem. CHANCER token holders would be allowed to create and invest in markets within the ecosystem.

    In addition to that, token holders can also create, participate in, and profit from their very own predictive markets. 

    Interested investors can purchase the CHANCER token using numerous wallets, including Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

    Visit the Chancer website to get more information about the presale. 

    Should you invest in Chancer now?

    The crypto market has been bearish in recent days, granting investors more opportunities to invest in quality projects. Investors looking to get into early-stage projects could consider Chancer, thanks to its unique niche. 

    By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond over the coming years. The adoption of the Chancer platform could see its CHANCER token rally higher in the medium to long term. 

    Share this article
    Categories
    Tags

    Source link