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  • Crypto liquidations hit $200m amid Bitcoin dip

    Crypto liquidations hit $200m amid Bitcoin dip

    • Crypto liquidations rose to over $200 million in 24 hours as Bitcoin (ETH) and Ethereum (ETH) dipped.
    • Analysts are however bullish on BTC price as September looks poised to end on a green note.

    The crypto market saw over $200 million in crypto liquidations as Bitcoin slipped to near $64k amid fresh bear moves.

    According to data from Coinglass, the cryptocurrency market saw total liquidations in the past 24 hours surge by 128% to more than $200 million. This came as Bitcoin (BTC) fell 4% to near $63,100 on September 30.  

    24-hour liquidations

    Having posted a significantly better performance in September contrary to expectation with a spike to $66k, BTC retreated sharply to pull most altcoins lower. With Ethereum (ETH) also dumping to under $2.6k amid latest selling from the Ethereum Foundation, total longs rekt soared to $164 million.

    Shorts accounted for about $37 million in 24-hour liquidations at the time of writing.

    Crypto liquidation represents the process by which a trader’s position is forcibly closed when their margin account no longer supports an open position. This happens when a trader suffers substantial losses or has insufficient margin to keep the position open.

    According to Coinglass data, over 68,900 traders have had their positions liquidated in the past 24 hours. The largest single order to be liquidated happened on the crypto exchange OKX in the ETH-USD-SWAP, at a value $1.92 million.

    BTC bounce: Uptober is here

    Despite the decline in BTC price, bulls are likely to strengthen in coming weeks.

    The upbeat mood may be down to the fact that with hours to go, September looks poised to end with BTC up more than 7%. That’s barring a sharp meltdown – not entirely new to the market. Still, analysts are bullish.

    As crypto analyst Kaleo points out in the X post below, October and November have historically been ultra-positive for Bitcoin. If the trend continues, BTC will bounce hard in the coming months.

    Earlier on Monday, digital asset manager CoinShares published its weekly report. It showed crypto investment products registered a third consecutive week of inflows amid recent upside on interest rates cut. Bitcoin topped $1 billion as Ethereum broke a five-week streak of negative flows.

    BTC price hovered near $63,405 at the time of writing.

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  • Can Bitcoin (BTC) Hit $70,000 Before Halving? Investors Position for Staggering Gains in Arbitrum (ARB) and InQubeta (QUBE)

    Can Bitcoin (BTC) Hit $70,000 Before Halving? Investors Position for Staggering Gains in Arbitrum (ARB) and InQubeta (QUBE)

    Bitcoin (BTC) hitting $50,000—a level last seen in 2021—was enough to send ripples of excitement across the crypto community. With investors calling it the start of a “bull market,” enthusiasm is almost at a frenzy. The Bitcoin halving is another event expected to usher in a bullish wave, with investors anticipating BTC’s rise to $70,000 before April.

    At the same time, altcoins are also enjoying a share of the spotlight, soaring alongside Bitcoin. Their massive upside potential means investors are constantly on the lookout for promising tokens, with Arbitrum (ARB) and InQubeta (QUBE) topping the list as the best cryptos to invest in.

    InQubeta (QUBE): Staggering Profit Potential

    InQubeta (QUBE) is an emerging crypto with staggering upside potential for a good number of reasons. For one, it is a blend of AI and crypto, which has been lauded as a bullish narrative. Further, as one of the most promising new ICOs—a low-cap gem—it has massive room for growth.

    In stage 7 of the presale, a token costs only $0.0224, and analysts predict a 7,500% jump after its launch. This makes it arguably the best new crypto to invest in and a recommended presale.

    Besides this, its innovative concept as an AI altcoin, which aims to reshape the fast-rising AI sector, immensely adds to its appeal. It seeks to transform the fundraising landscape of the burgeoning AI industry by building the first crypto-based crowdfunding platform for AI tech startups. Poised for adoption and massive growth, it is a good crypto to buy.

    Bitcoin (BTC): $70,000 Before Halving?

    Bitcoin (BTC) finally hit $50,000 earlier this week, a level last seen in 2021 during the last bull run. Hence, it comes as no surprise that investors call this the start of a bull market. We might be seeing the final days of the long bear market after all.

    The launch of spot Bitcoin ETFs is one of the key factors responsible for the current BTC upswing. On January 10, the US SEC finally gave its green light for this investment vehicle, bringing a decade-long wait to an end. This development ushered in institutional demand for BTC, resulting in its price exploding.

    Meanwhile, the BTC halving—which happens every four years—is another bullish event. It coincides with a surge in the price of BTC as rewards for miners’ halves, with investors and analysts speculating about whether Bitcoin will reach $70,000 before the event. Well, considering current market conditions, Bitcoin will likely reach this figure, making it one of the best cryptos to buy now.

    Arbitrum (ARB): Massive Profit Potential

    Arbitrum (ARB) is a well-known layer-2 scaling solution on Ethereum. It employs optimistic rollups, which improves its speed, scalability, and cost-efficiency. This contributes to making it a popular destination for developers seeking innovative scaling solutions.

    The rise in investor sentiment post-BTC ETF has seen Arbitrum gather steam. The excitement around its rally is enough to compete with the enthusiasm around the upcoming Wormhole airdrop—one of the biggest in 2024—leaving holders excited.

    With further upside in the future, investors have been positioning themselves in Arbitrum, aiming to ride its massive bullish wave. This makes it one of the best altcoins and a good crypto to buy.

    Conclusion

    While the crypto scene is abuzz with the recently concluded DYM airdrop and the upcoming Wormhole airdrop—a snapshot of eligible wallets already taken—the Bitcoin halving remains the biggest event of the year. The anticipation around the halving is expected to push BTC’s price up, perhaps to $70,000.

    Meanwhile, investors have been positioning themselves to ride the altcoin wave, with Arbitrum and InQubeta as top picks. To participate in the QUBE presale, click the link below.

     

    Visit InQubeta Presale 

    Join The InQubeta Communities

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  • 84% of investors predict Bitcoin will hit a new ATH

    84% of investors predict Bitcoin will hit a new ATH

    • Bitget’s report reveals that 84% of survey participants predict Bitcoin (BTC) will hit a new all-time high in 2024.
    • About 70% say they have plans to add to their crypto investments as they eye the next bull run.

    Bitget, one of the crypto exchanges to see remarkable growth in 2023, has released findings of a new study on Bitcoin’s upcoming halving, which shows an overwhelming majority of investors are bullish on the flagship cryptocurrency post-halving. 

    Nearly three quarters say the potential for Bitcoin price to skyrocket to a new high weighs on their plans to add to their investments in 2024.

    The crypto exchange shared the findings of the survey in a report published today, Thursday, February 1.

    Bitget’s study – an overview

    An analysis of anonymized data that focused on investors’ perceptions around Bitcoin’s upcoming halving and how this impacted their investment decisions showed that the market is largely bullish on BTC.

    Here’s a highlight:

    • 84% of survey participants the next bull run will see Bitcoin price surpass its previous all-time high of $69,000. Only Europe had a percentage lower than 80% among all regions.
    • Over 50% of all respondents predict BTC will be between $30k and $60k by halving (expected around April 2024. 30% of participants think it could be higher than $60k.
    • About 70% of respondents said they have plans to add to their crypto investments. Highest conviction was expressed across MENA and East Europe.
    • Western European investors are largely “short-term cautious” and “long-term optimistic”.

    2024 could be significant for Bitcoin, Bitget’s Gracy Chen says

    According to Bitget, a diverse global demographic group of investors participated in the study. In total, 9,748 individuals drawn from across West Europe, East Europe, South East Asia, East Asia, MENA and Latin America shared their views and predictions for BTC pre-halving and post-halving.

    Other than the above highlights, the report also shows 55% of participants see Bitcoin price in the $50k-$100k post halving in 2024. A smaller percentage predicts a run to above $150k. More people in West Europe, 51%, expressed this expectation.

    Commenting on the findings, Bitget Managing Director Gracy Chen said: “The Bitget Study on BTC halving impacts provides valuable insights into the evolving landscape of cryptocurrency investment. The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.”

    Bitcoin traded at $42,700 on February 1, 2024, up 6.9% in the past week. Following declines in January, the benchmark cryptocurrency was 5.8% down in the past month. 

    However, analysts at Standard Chartered Bank are among those to point to a bullish run for the digital asset, which reached highs of $49k amid the spot Bitcoin ETF euphoria. Analysts at the bank predicted last year that BTC could rally to highs of $120k by end of 2024.

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  • Manta Network (MANTA), SUI, and Pullix (PLX) soar as crypto market takes a hit

    Manta Network (MANTA), SUI, and Pullix (PLX) soar as crypto market takes a hit

    • MANTA, SUI, and PLX defy market downturn, showcasing resilience amid Bitcoin’s decline.
    • Manta Network surges on Bithumb listing and successful airdrop, capturing investor interest.
    • Pullix’s PLX presale gains momentum, offering an innovative “Trade-to-Earn” concept.

    In the midst of a crypto market downturn triggered by Bitcoin’s recent price decline, some altcoins are defying the trend and experiencing significant growth. Manta Network (MANTA), Sui (SUI), and Pullix (PLX) have emerged as standout performers, showcasing resilience amid the broader market challenges.

    Read along as we delve into the reasons behind Bitcoin’s slump and explore the notable rises of MANTA, SUI, and the ongoing presale of PLX.

    Bitcoin’s decline and crypto market plunge

    As Bitcoin faces increased volatility, the entire crypto market has witnessed a notable downturn. Bitcoin briefly dropped leading to millions in liquidations. Although BTC price has regained $40,000, the recent decline in Bitcoin’s price, coupled with broader market uncertainties, led to double-digit losses for various altcoins.

    Investors are grappling with the impact of these market movements, which have contributed to a cautious sentiment and a temporary loss of support for many cryptocurrencies.

    Manta Network (MANTA): defying the odds

    Amid the crypto market turmoil, Manta Network (MANTA) stands out with a remarkable surge. Recent positive developments, including a listing on Bithumb and a successful airdrop for early supporters, have contributed to MANTA’s significant price increase. The token has seen a 30% surge in a single day.

    MANTA price chart

    The token’s resilience in the face of market challenges positions it as a noteworthy player in the decentralized finance (DeFi) landscape, garnering attention from investors seeking alternatives. Surprisingly, Manta’s surge comes against the backdrop of a major DDoS attack.

    SUI token: a rising star

    SUI, another altcoin in focus, has experienced notable growth despite the broader market uncertainties. The recent achievement of surpassing Bitcoin in Total Locked Value (TVL) following the approval of a spot Bitcoin ETF has propelled SUI into the spotlight.

    With a surge of over 8% in the last 24 hours and more than 70% in the last 30 days, SUI is capturing the interest of investors looking for promising opportunities beyond the traditional crypto heavyweights.

    SUI price chart

    Pullix (PLX): shaping the future of crypto trading

    Pullix, an innovative player in the crypto space, is currently in its presale stage, challenging the status quo of traditional exchanges. PLX, the native token of the Pullix ecosystem currently in its presale stage, introduces a novel concept of “Trade-to-Earn,” enabling users to earn rewards from the platform’s daily revenues.

    The platform’s hybrid approach, combining the strengths of centralized and decentralized exchanges, aims to address liquidity issues and provide a comprehensive trading experience.

    The PLX presale is gaining momentum and attracting investors in droves. As of the latest update, Pullix has raised $4,364,732, with a remaining supply of 15.1%. In the current presale stage, the PLX token is going for $0.08, with a price increase expected in a couple of days.

    The presale, scheduled to progress through stages, offers users the opportunity to participate in the early growth phases of the platform. With a fixed supply of 200,000,000 PLX tokens and a strategic allocation across presale, rewards, team, exchange listings, and marketing, Pullix aims to create a robust and sustainable ecosystem.

    Conclusion

    In a crypto market characterized by fluctuations, Manta Network (MANTA), SUI, and Pullix (PLX) emerge as notable players exhibiting resilience and growth.

    While Bitcoin’s recent decline has created a challenging environment, these altcoins showcase the dynamism and diversity within the crypto space. As investors navigate uncertainties, the unique features and positive developments surrounding MANTA, SUI, and Pullix contribute to their standing as intriguing options in the evolving landscape of digital assets.

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  • Bitcoin may hit $50,000 before halving, will Everlodge and Shiba Inu follow suit?

    Bitcoin may hit $50,000 before halving, will Everlodge and Shiba Inu follow suit?

    The cryptocurrency market is rife with anticipation and excitement as the community gears up for the next Bitcoin (BTC) halving event. 

    While the flagship cryptocurrency continues to set the tone for the market, other tokens like Shiba Inu (SHIB) and Everlodge (ELDG) are poised to join the party. 

    This article will explore the factors driving Bitcoin towards a potential $50,000 milestone before its halving and how this upward momentum could positively impact SHIB and ELDG.

    Bitcoin (BTC) preparing for a remarkable surge

    Bitcoin (BTC) is no stranger to price surges. Recently, prominent crypto analyst Michaël van de Poppe has sparked anticipation by suggesting that Bitcoin could surge to $50,000 before its next halving event. 

    This optimism is fueled by bullish indicators, including Bitcoin’s rising network activity. Notably, over 700,000 new addresses joined the Bitcoin network on November 4, as reported by crypto analyst Ali Martinez. 

    Not only that, the Bitcoin price even reached $35,902 on November 2 – a level not seen since May 2022. The next Bitcoin halving event, which will occur in April 2024, is historically associated with significant price surges, further contributing to the positive sentiment in the crypto space.

    Shiba Inu (SHIB) riding its coattails

    When Bitcoin experiences a significant price surge, it tends to trigger positive sentiment across the entire crypto market, including Shiba Inu (SHIB). The rise in Bitcoin’s price could propel Shiba Inu to higher levels as investors seek opportunities beyond the leading cryptocurrency.

    In recent Shiba Inu news, the project revealed “The Shib Magazine.” This magazine will offer insights into finance and beyond, demonstrating the project’s commitment to expanding its presence and providing valuable content to its community. 

    Due to all these reasons, experts predict that the Shiba Inu coin price could experience significant growth. They foresee its value reaching $0.00001620 before the BTC halving event within Q2 of 2024.

    Everlodge (ELDG): a hidden gem to watch

    Everlodge (ELDG) will be a unique blockchain-based project to revolutionize the real estate market. With its innovative approach to property ownership and passive income generation, ELDG has the potential to attract a wide range of investors. As Bitcoin’s price soars, the increased interest in the market can lead to greater visibility for hidden gems like ELDG.

    This upcoming property marketplace will digitize and mint real-world properties into NFTs, subsequently fractionalizing them to allow investors access to the global real estate market (valued at over $280T). As these properties appreciate, so do the NFTs associated with them, providing an opportunity for users to benefit from property value growth.

    Furthermore, Everlodge’s Rewards Club offers an additional avenue for passive income. Members can earn free nightly stays across the platform’s properties, similar to timeshare arrangements, with the option to resell these stays, generating a continuous source of passive income.

    But the Club will only be accessible to holders of ELDG native tokens. One ELDG token costs just $0.023 in Stage 6 of its presale. But, demand is high as millions of tokens have been sold already. Additionally, unlike Bitcoin and Shiba Inu – ELDG has a low market cap, meaning it will surge faster. Thus, experts predict a rise to $0.038 before its presale ends. 

    For more information about the Everlodge (ELDG) presale, you can visit their website here.

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  • Bitcoin remains the focus as outflows hit March highs

    Bitcoin remains the focus as outflows hit March highs

    • Digital assets investment products saw outflows of $168 million last week, $146 million of which was for Bitcoin.
    • It’s the largest weekly outflows total since March 2023, according to a report by CoinShares.

    CoinShares’ latest weekly report on digital asset investment flows shows that the market witnessed its largest funds outflows in nearly six months last week. The outflows come as sentiment across cryptocurrency dips amid recent sell-off.

    Crypto sees $168 million in outflows

    According to the report, outflows totaled $168 million over the week to mark the largest outflow from crypto products since March 2023 when the US Securities and Exchange Commission (SEC) started its regulatory crackdown on major exchanges.

    The outflows in the week ended August 25 saw the monthly outflows stand at $278 million as sentiment continued to trend negative amid “exceptionally low trading volume.” Indeed, CoinShares data shows the investment products market traded $1.3 billion last week, about 16% off the year’s average.

    “This negative sentiment we believe is due to the increasing acceptance that a spot-based ETF for Bitcoin in the US is likely to take longer than many expect, with recent delays being announced by the SEC,” said James Butterfill, head of research at CoinShares.

    Bitcoin continues to lead

    The crypto market recently witnessed a sharp sell-off for Bitcoin, the benchmark cryptocurrency falling to lows of $25,350. The struggle to strengthen above $26k has illustrated the market jitters permeating the broader risk assets sector, with this shown in outflows from Bitcoin investment products.

    Bitcoin price chart

    However, while outflows totaled $149 million last week, the flagship crypto asset’s flows are net positive for the year at roughly $265 million. Meanwhile, investors are increasingly selling their short positions, with $4 million in outflows registered last week for an 18-week streak of outflows. 

    Data shows shorts outflows are currently 89% of the total AuM.

    In the altcoin market, Ethereum recorded outflows of $17 million, while XRP and Litecoin had minor inflows of $0.5 million and $0.44 million, respectively.

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  • Bitcoin could hit $180,000 by April of 2024: Fundstrat

    Bitcoin could hit $180,000 by April of 2024: Fundstrat

    bitcoin could hit $180,000 by april of 2024 fundstrat
    • Experts at Fundstrat are super bullish on Bitcoin.
    • They see halving and a Bitcoin ETF as material catalysts.
    • Bitcoin is already up roughly 80% versus the start of 2023.

    Bitcoin has had a massive rally since the start of this year but experts at Fundstrat are convinced it’s just a drop in the bucket compared to what may come over the next nine months.

    The bull case for Bitcoin

    The investment research firm expects BTC to hit $180,000 before its scheduled halving in April of 2024. That suggests about a 500% upside from here.

    Fundstrat also sees a Bitcoin ETF as a meaningful catalyst that could boost per-day demand for the world’s largest cryptocurrency by a whopping $100 million.

    This would bring daily demand to $125 million, while daily supply is only $25 million. Implied equilibrium price would need to rise so daily supply matches daily demand.

    Note that the halving next year will cut the reward for mining BTC to $12 million.

    Is a Bitcoin ETF expected soon?

    Prominent asset managers, including the likes of Fidelity and BlackRock have filed for a Spot Bitcoin ETF in recent weeks.

    According to Sean Farrell – the Head of Digital Asset Strategy at Fundstrat – there’s a 75% probability that the U.S. Securities & Exchange Commission will approve the said exchange-traded fund.

    We anticipate [a Bitcoin ETF] would attract new investors and generate increased demand. Bitcoin ETF eventually could become >$300 billion category.

    BTC may also benefit once the Federal Reserve switches to a more lenient monetary policy. The central bank is set to announce its decision on interest rates later today – July 26th, 2023.

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  • Bitcoin could hit $120,000 by the end of 2024: Standard Chartered

    Bitcoin could hit $120,000 by the end of 2024: Standard Chartered

    bitcoin price forecast 2024 standard chartered analyst
    • Standard Chartered analyst sees another 60% upside in Bitcoin this year.
    • Geoff Kendrick explained his bullish view on BTC in a research note today.
    • Bitcoin is already up a whopping 85% since the start of the year 2023.

    The massive rally in Bitcoin since the start of this year is just a drop in the bucket compared to where it’s headed, as per a Standard Chartered analyst.

    BTC could climb another 60% this year

    On Monday, Geoff Kendrick said the world’s largest cryptocurrency could climb further to $50,000 by the end of 2023 which suggests another 60% upside from here.

    The analyst is convinced that a continued increase in the price of BTC will make it rewarding for miners to stock huge amounts of it. Reduced net supply, in return, will help the cryptocurrency reach for the skies, he added.

    If BTC rises [as] we expect by end-2023, share of newly mined being sold should fall to 20%-30%. That’s a net annual reduction in selling of BTC 250,000.

    Bitcoin supply is set to halve next year

    Note that the total supply of Bitcoin is scheduled to halve in April or May of 2024.

    The Standard Chartered analyst sees several other factors helping unlock significant upside in BTC next year. One of them is the recent banking crisis. Earlier this year, he had forecast Bitcoin at $100,000 by the end of 2024. In a note today, though, Kendrick said:

    We now think this estimate is too conservative, and we, therefore, see a 20% upside to our end-2024 target.

    That essentially means Bitcoin could hit $120,000 next year. The cryptocurrency is expected to benefit if the Securities and Exchange Commission greenlights a Spot Bitcoin ETF that many asset managers, including BlackRock, have recently filed for.

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  • Bitcoin network hash rate hit a record high in May

    Bitcoin network hash rate hit a record high in May

    bitcoin network hash rate record high may
    • Bitcoin network activity climbed for the fifth month straight.
    • Mining difficulty and transaction fee also climbed in May.
    • The world’s largest cryptocurrency lost about 8.0% last month.

    Bitcoin may have lost about 8.0% last month on macro uncertainty but the network activity remained incredibly strong.

    JPMorgan analyst expects a slowdown in hash rate

    In May, the daily network hash rate – a closely followed metric that indicates network’s health climbed to a record high. It was the fifth consecutive month of increase for the said indicator.

    Simply put, larger the hash rate, the more secure is the network. Nonetheless, Reginald Smith – a JPMorgan analyst said in a note on Friday:

    Our sense is that network hash rate growth could slow over the coming months (possibly lagging BTC price appreciation) as funding available rack space is hard to come by.

    In terms of market cap, the 13 U.S. listed miners that JPMorgan tracks noted an aggregate increase of 5.0% last month to $6.7 billion.

    Mining difficulty and transaction fee also increased

    Mining difficulty – another metric that typically moves in tandem with the Bitcoin hash rate – also climbed to a record high in May.

    Recent data confirmed the crypto transaction fee to have increased last month as well. JPMorgan’s Smith also said in his research note:

    Transaction fees spiked to over 5 Bitcoin per block mined in early May, which should drive modest C2Q23 earnings upside for the industry at large.

    In recent weeks, though, Bitcoin transaction fees have returned close to its historic average of about 0.5 BTC per block mined. Last week, JPMorgan said Bitcoin should be trading at $45,000.

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  • Bitcoin “shrimp” addresses hit 43.2 million

    Bitcoin “shrimp” addresses hit 43.2 million

    • Bitcoin “shrimp” wallets, which hold 1 bitcoin recently surged to 43.2 million.
    • Bitcoin addresses with 0.01 BTC or less have also hit an all-time high of 32.6 billion.
    • Data also shows bitcoin wallets in profit have reached 70% after recent price gains.

    Bitcoin price recently reached an eight month high when it rallied to highs above $25,000 last week.

    Despite this, the latest market data from asset manager CoinShares shows Bitcoin investment products saw outflows of $25 million, about 78% of the $32 million that exited amid negative sentiment. But a new report shared by crypto exchange Bitfinex indicates that Bitcoin still saw massive growth in terms of the address count with one BTC or lower.

    Bitcoin “shrimp” addresses hit 43.2 million

    According to data shared in the Bitfinex Alpha report published Monday, 20 February 2023, Bitcoin addresses with less than one bitcoin, or “shrimps”, recently jumped to 43.2 million – the highest the count has hit in the flagship cryptocurrency’s history.

    No doubt this has been greatly helped by the massive growth in addresses with 0.01 BTC or less. Per the Bitfinex report, and from on-chain data by analytics platform Glassnode, the number of wallets with balances of 0.01 BTC or under recently hit 32.6 million.

    Overall, wallet addresses with non-zero balances are at an all-time high, which Bitfinex researchers say is indicative of “an influx of new investors.” 

    As CoinJournal recently covered, shrimps actually increased their buying even as prices fell after the FTX collapse. And it is this increase in the number of non-zero wallets that could have fueled Bitcoin’s recent upside momentum, the Bitfinex team noted in their report.

    Is it the start of a new Bitcoin bull market?

    Bitcoin has been largely upwards in January and February, with nearly 50% in overall gains year-to-date as of 21 February. In fact, as Glassnode data shows, the number of Bitcoin wallets in profit (7-day moving average) has also just hit a 10-month high.

    While analysts warn of a potential pullback amid profit booking across crypto, the sentiment is still mostly bullish for BTC in the short term. And the recent growth in shrimp wallet addresses aligns with historical market trends in a bear market.

    In this case, bull markets have traditionally been highlighted by wealth distribution, with the entry of new short term holders a metric that helps signal the shift in market direction.

    However, as Bitfinex analysts noted in their report, the latest data is only a “snapshot of the current situation.” In short, it is hard to predict where the market goes next at any one given time.

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