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  • Bitcoin drops to $111K as post-Jackson Hole bounce fades

    Bitcoin drops to $111K as post-Jackson Hole bounce fades

    Bitcoin Price

    • Bitcoin price has dropped to lows of $110,956 as gains seen on Friday disappear.
    • The downturn has accelerated amid the BTC sell-off and decline in dominance.
    • Analysts say Bitcoin can extend losses below $110k amid wider fall.

    Bitcoin’s downturn since the brief surge post Federal Reserve chair Jerome Powell’s speech at Jackson Hole on Friday has extended to below $111k.

    The benchmark digital asset has slipped more than 3% to drop to lows of $110,956 across major exchanges, with BTC struggling as the bounce that followed Powell’s comments on cryptocurrency quickly fades.

    Bitcoin’s dominance was also falling sharply, down to around 57%.

    Analysts remain bullish, but could Bitcoin price drop below $110k and trigger further losses?

    Bitcoin extends dip to $111k

    Cryptocurrencies spiked on Friday as risk assets exploded amid comments by Powell that the central bank could consider cutting rates sooner.

    However, the brief rally that followed the Jackson Hole economic symposium has since swiftly unravelled, with Bitcoin plummeting to touch lows of $110k.

    On Aug. 22, BTC saw an intraday peak of $117k – up from lows of $113k earlier in the day.

    According to QCP, the downturn to current prices comes as an early whale offloaded a substantial $2.7 billion in BTC.

    This rapid sell-off has accelerated a dip in BTC dominance, which hovers around 57%.

    Meanwhile, Bitcoin’s weakness has been evidenced by a dip in spot exchange-traded funds (ETFs) flows, with six consecutive sessions of outflows putting bulls under pressure.

    What next for BTC? Analysts’ take

    Bitcoin’s long-term trajectory remains largely bullish, and a bounce to the all-time high above $124k is not an impossibility.

    However, analysts at Glassnode are pointing to a short-term downside arc.

    Particularly, all Bitcoin cohorts, with those in the 10- 100 BTC group biggest sellers, are in a distribution phase.

    Increased selling could be bad news for bulls as a breakdown below $110k could ensue.

    But despite this outlook, analysts at QCP Group maintain that Bitcoin is bullish.

    The analysts say that despite the current sell-off, buyers can easily absorb the pressure as happened in July.

    With BTC dominance slipping, it is Ethereum that may benefit, the analysts said.

    “BTC dominance slipped from 60% to 57%. Still above the sub-50% levels of 2021, but enough to fuel speculation that whales expect $ETH to outperform, especially if ETH staking ETFs secure approval later this year,” QCP noted.

    Bitcoin price currently hovers around $111,200, bouncing off lows last seen in early July. Investors will be watching that $110k level as well as broader market conditions.

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  • Bounce Token (AUCTION) spikes 36% to lead top gainers

    Bounce Token (AUCTION) spikes 36% to lead top gainers

    • Bounce Token soared more than 36% on Sunday, gaining to an intraday high of $36.17.
    • Analysts predict a breakout for AUCTION price.

    Bounce Token (AUCTION) has surged by an impressive 36% over the past 24 hours, emerging as among top gainers in the 500 largest coins by market cap. Only Ancient8 (AB) with a staggering 109% in 24 hours and BinaryX (BNX) with 40% as surged by more.

    Notably, this price spike comes as most altcoins look to hold onto gains as Bitcoin hovers near $84k.

    Bounce Token price recap: A 36% surge in 24 hours

    According to CoinMarketCap data on March 16, 2025, Bounce Token (AUCTION) climbed 36% to reach an intraday high of $36.17. While the altcoin, native to the decentralised auction platform, remains about 49% from it’s all-time high of $70.56, it has seen significant gains in recent weeks.

    Per CoinMarketCap, AUCTION price has jumped by about 107% over the past seven days and 204% in the past month. These gains have pushed Bounce Token’s market capitalization to around $232 million.

    Meanwhile, trading volume has also skyrocketed, up 230% in 24 hours to hover at $590 million at the time of writing.

    Why is the AUCTION price up today?

    Bounce Token’s price rally builds on AUCTION’s longer-term momentum. Part of this has to do with the growth in the ecosystem and new project launches.

    One of these is Auction Intelligence, an artificial intelligence (AI) agent launchpad by Bounce Finance, which went live on the BNB Chain.

    Although the market is largely negative, Bounce Token bucks the trend with notable impetus from its traction in the DeFi space. There’s also huge anticipation around real-world collectibles.

    As noted above, an innovative auction mechanism and adoption are key to the current upward trajectory.

    Can AUCTION bounce to a new ATH?

    If the bulls hold key support levels, such as the $30, its possible they could target the $60 mark seen in November 2021. From here, with supportive market conditions, it would be a new ATH for buyers.

    Crypto insights provider Crypto Sat shared an outlook for AUCTION price on March 12.

     

    On the flipside, profit taking deals could allow bears to target $20 and then $10 – previous demand reload zones.

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  • 3 tokens watch as crypto eyes bounce: PYTH, TIA, MMTR

    3 tokens watch as crypto eyes bounce: PYTH, TIA, MMTR

    • Pyth Network (PYTH) and Celestia (TIA) have seen decent traction and could rally in 2024.
    • Memeinator is blazing through its presale, currently at $3.7 million as investors eye potential meme coin gains.

    While the year is having a somewhat slow start given the excitement amid the build up to the spot ETFs approvals in the US, experts continue to opine that this could be a breakout year.

    This has the overall sentiment mostly bullish, with the crypto market eyeing potential tailwinds such as the upcoming Bitcoin halving and further regulatory clarity. The long term impact of inflows via ETFs is also another factor providing impetus as traders position themselves across the market.

    It’s with this view that Pyth Network (PYTH) and Celestia (TIA) are seeing significant investor attention. Meanwhile, presale token Memeinator (MMTR) could present an attractive meme coin for a diversified portfolio.

    Memeinator (MMTR): Presale offers opportunity

    While many meme coins face market oblivion for lack of utility or outright worthlessness, the Memeinator (MMTR) comes ready and loaded for a hostile takeover. The project uses blockchain and artificial intelligence (AI) to bring a gamified ecosystem to the meme coin world.

    With staking and NFTs also part of the utility on offer, the Memeinator stands out from many meme coins struggling to hold onto hype-driven gains. Its growing community, the presence of a great team, clear roadmap and tokenomics add to the overall serious outlook that Memeinator projects.

    As it eyes a race to the $1 billion market cap upon its trading debut in coming months, Memeinator will destroy all weak meme tokens. Currently, the presale, which has reached stage 13 and raised over $3.7 million, offers a great opportunity for an early bid.

    MMTR price is $0.0197 and will jump to $0.0208 in the next stage, before hitting $0.0292 in the last presale stage. There’s a chance this token could explode after its presale, potentially challenging Shiba Inu and Dogecoin for the top meme coin spot.

    Pyth Network (PYTH): Growing oracle ecosystem

    Pyth Network (PYTH) is a blockchain oracle system for real-time market data. The platform, which gained remarkable traction amid impressive airdrops and exchange listings in recent months, is quickly growing into a force in the market.

    The Pyth network’s scaling capacity sees it provide over 400 price feeds, with data from blockchains, crypto exchanges and market makers among others. These providers tap into smart contracts to contribute real-time price feeds for crypto, ETFs, equities, FX pairs and commodities.

    More than 90 market providers currently publish data on Pyth, including Binance, Cboe, and Jane Street.

    With the growth trajectory, it’s possible the price of PYTH could rise amid other favourable market conditions. There’s an opportunity to position for these gains given PYTH reached an all-time high of $0.5487 in November 2023.

    At current prices, it’s about 35% down. However, this altcoin has seen a decent upside since January 10 when it traded below $0.23.

    Celestia (TIA): Specialized rollup chains

    Celestia price rose sharply after its mainnet beta launch in October and when crypto exchange Binance listed the modular data network’s native token.  

    The blockchain’s traction comes amid massive airdrops for its TIA tokens and increased integration as projects seek to leverage its technology for practical flexibility, interoperability and scalability. As more networks tap into Celestia’s specialized rollup chains technology, amid a boost for altcoins, TIA could be one of the top coins to watch in the coming year or so.

    TIA’s all-time high is $20.16, reached just this week – on January 15, 2024. According to CoinGecko data, the current price of $18.20 is about 779% above the all-time low of $2.08 hit on October 31, 2023.

    Celestia ranks 34th among largest cryptocurrencies by market cap, with $2.8 billion. It could climb the charts should the upside momentum solidify in coming months.

    If you are an investor looking for an opportunity in the market, do your own due diligence on the three tokens above. For Memeinator (MMTR), you can check their presale page.

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  • Metacade price sees strong bounce off key technical level

    Metacade price sees strong bounce off key technical level

    • Metacade price has jumped 4% in the past 24 hour as bulls bounced off a key support level.
    • With Metacade building the ultimate Web3 hub, interest in MCADE could see its price rally in coming months.
    • The price prediction for Metacade however also takes into account potential headwinds around broader risk asset markets.

    Metacade price has bounced off a key support level to give bulls some joy. The token is currently trading at $0.021, up 4% in the last 24 hours. MCADE/USD is up 20% in the past week, while the 24-hour trading volume is $226,368, up 57%.

    Price has given up even more gains before, which means profit taking is likely to curtail bulls’ movement. But can buyers establish a footing and rebound even higher, especially with Metacade building the ultimate Web3 hub and MCADE available to the broader market after hitting major cryptocurrency exchanges?

    Metacade price prediction

    At current price levels, MCADE looks like a solid buy. The rally to the all-time high above $0.045 occurred just this month and a few days after the token’s successful presale. Since then, bulls have held impressively above $0.020.

    Today’s bounce alongside the upside flip for Bitcoin price suggests a new bull run for the market could see MCADE surpass its peak. This Metacade price prediction means MCADE could see more than 50% in upside bounce to $0.045.

    Aiding this short term view further is the daily RSI signaling a potential breakout from the neutral position. Also, the key support level that Metacade bounced off of is a horizontal line near $0.020 that has been a robust pillar for MCADE bulls.

    If they can continue to push the price higher, the next target could be $0.026. However, the 20-day moving average line is currently slopping to suggest it might offer an area of crucial resistance at $0.022 and $0.025. Its possible MCADE could see a 50% surge to $0.045.

    Overall, Metacade’s price is currently poised for a bullish flip. However, if the price rejects at the 20-day moving average, then it could fall to support levels beneath the psychological $0.020.

    What is Metacade?

    Metacade is a new community-driven gaming arcade powered by blockchain technology and Web3. The Ethereum-based game platform is being developed as the ultimate hub of play-to-earn (P2E) games. At its core is the objective of making Metacade the home of metaverse arcade games, bringing together game developers, players and crypto enthusiasts.

    Designed to cater to all types of gamers, Metacade’s arcade platform will have everything from casual games to competitive tournaments.

    The platform users will leverage the utility of the native MCADE token to tap into earning opportunities. Governance, staking and trading of MCADE all combine with an extensive array of games from different developers and studios to give token holders even more ways to benefit from their investment.

    Will Metacade price reach $5 in 2024?

    This is like asking: Is MCADE a buy still and what’s the long term outlook for Metacade’s price?

    Like other altcoins and cyptocurrencies, Metacade price can be extremely volatile and thus difficult to predict with certainty where it trades next. However, as highlighted by the short term price prediction, price has the potential to rally to new highs in coming months.

    For a long term outlook of Metacade price, it would be important to focus on the likely catalysts for further growth and demand of the token down the road. Having reached $0.045, the main targets in the short term are likely to be $0.1 and $0.5. These levels could be hit in 2023 or 2024 given the market cycles. 

    The $5 price level is also achievable in 2024 or in the medium term given how tokens like Axie Infinity, The Sandbox and Decentraland raced to their all-time highs during the last bull market.

    However, it might be unrealistic to expect MCADE to roar to $5 this year.

    What could catalyse a new Metacade price rally?

    MCADE is a relatively new token, but is showing a lot of potential given its growing community. What’s likely to catalyse fresh gains for the token include the overall bounce in crypto markets amid a new bull cycle, turbulence in traditional finance that sees risk appetite shift more to cryptocurrencies and a resurgence in investor interest in crypto gaming tokens.

    Apart from a unique approach to the P2E gaming ecosystem, there are a few other strengths that could aid in MCADE demand.

    Notably, Metacade is backed by a strong team that is focused on delivering the Web3 experience for users. It also has a clear roadmap – with key milestones such as the presale, exchange listings and platform development reached – as outlined in the project’s whitepaper.

    The token is also designed to be used across a growing gaming ecosystem, which could see increased demand as its public launch approaches.

    If you are considering buying MCADE, then do your own research. You can start by visiting the Metacade website for more information about the project, team and roadmap.

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  • Will Bitcoin bounce back? Why 2022’s pain is different to anything previously

    Will Bitcoin bounce back? Why 2022’s pain is different to anything previously

    Key Takeaways

    • Bitcoin has closed the year down 64%, its worst year since 2018
    • This bear market is different, as for the first time ever in Bitcoin’s existence, the wider economy is also pulling back
    • Bitcoin’s correlation with the stock market is extremely high, proving it trades like a high-risk asset
    • Fans will hope this link can be broken, but currently, it presents as a daunting macro climate for Bitcoin and one that has unsurprisingly crushed its price over the last year

    Cryptocurrency investors will be happy to close the book on a dire 2022. 

    Prices across the asset class collapsed, as the world transitioned into a new interest rate paradigm, with the era of low-interest rate, cheap money officially over. Risk assets got crushed, and there are few investments further out on the risk spectrum than crypto. 

    Looking at Bitcoin, the world’s flagship cryptocurrency closed the year at $16,547, compared to the $46,311 it entered the year at. That translates to a fall of 64%. But how bad was the is performance historically, for an asset which is notorious for both explosive gains and bone-chilling losses?

    2022 the second-worst year for Bitcoin

    Looking at annual returns since 2011, the first year when sufficient liquidity and price data were available, shows that Bitcoin’s 64% drop this year was its second-worst number, behind only the 72% drop in 2018. The latter came after a run-up towards $20,000 in late 2017, the first time Bitcoin truly entered mainstream consciousness. 

    Amid this context, the numbers show that 2022 could just be another year, right? Bitcoin has fallen many a time previously, and always rebounded. Unfortunately, there is a catch this time.

    Bitcoin experiencing a recession for first time ever

    Satoshi Nakamoto published the Bitcoin whitepaper in 2008, I the aftermath of the Great Financial Crisis. Engrained in the Genesis Block is a reference to British newspaper the Times: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” 

    Frist trading in 2009, Bitcoin was therefore propelled into this post-crisis environment, a climate of zero (or even negative) interest rates, a warm money printer and explosive returns in risk assets. A quick look at stock market returns since Bitcoin’s launch shows that, until this year, things had been plain sailing.

    And so for the first time in its history, Bitcoin is experiencing a pullback in the wider economy. The money printer has been turned off and interest rates have been hiked, with the Federal Fund rate now 4.25% – 4.5%.

    This is vitally important because despite what some Bitcoin evangelicals may argue, Bitcoin trades as a high-risk asset. The price data simply proves this without a shadow of a doubt, as its correlation with the S&P 500 is sky high – and only rose last year after interest rates began to be hiked in April 2022, as I wrote about in this piece, and shown on the graph below.

    Previous bear markets are not the same

    This is why extrapolation of prior bear market bouncebacks for Bitcoin is naïve. The world is a different place now than at any other time in Bitcoin’s history. The free money up-only market could not persist forever, and now it is time for Bitcoin to show the world what it is made of. 

    Bitcoin is often compared to gold, but the shiny metal has proven over a long sample space that it can be considered a hedge and a reputable store of value through which investors can preserve their wealth. Plotting the returns of gold historically below show clearly that it rises in times of uncertainty. This is the kind of chart that you want to see as we enter a recession. 

    Unfortunately, Bitcoin has to date traded with an uber-high correlation with the stock market. In time, advocates hope that this link will be broken. That is up for debate, but what is for sure right now is that Bitcoin is as far from a “hedge” as it could possibly be. 

    If the Federal Reserve turns dovish and eases off on interest rate hikes, you can be sure that asset prices will jump again – and those further out on the risk spectrum, like tech stocks and Bitcoin, will be among the big winners. 

    In the long-term, the trillion-dollar question is whether this correlation can be broken and whether Bitcoin can achieve the coveted store of value status. 

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