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  • US House passes three key crypto bills; market reaction muted as Bitcoin dips

    US House passes three key crypto bills; market reaction muted as Bitcoin dips

    US House passes three key crypto bills; market reaction muted as bitcoin dips

    • US House passed all three key crypto bills: the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act.
    • Despite the “historic” legislative wins, crypto markets remained flat, with Bitcoin down 0.89% to $118,849.
    • The GENIUS Act (stablecoins) is the first major crypto bill to clear both chambers and is now on President Trump’s desk.

    The US House of Representatives has delivered a week of landmark legislative victories for the cryptocurrency industry, passing all three key bills aimed at providing long-sought regulatory clarity.

    However, in a striking display of market apathy, this historic breakthrough in Washington has been met with a collective shrug from crypto traders, with prices remaining largely flat.

    In what many industry proponents are calling a watershed moment, the US House has now passed the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act.

    The CLARITY Act, which passed by a strong vote of 294 to 134, aims to establish clear guidelines for classifying digital assets as either securities under the purview of the Securities and Exchange Commission (SEC) or as commodities under the Commodity Futures Trading Commission (CFTC).

    The Anti-CBDC Surveillance State Act, which passed by a much narrower 219 to 217 vote, effectively bans the Federal Reserve from issuing or even testing a central bank digital currency without explicit Congressional approval. Both of these bills will now advance to the Senate, where their future remains uncertain.

    The most significant of the three, the GENIUS Act, which creates a regulatory framework for stablecoins, has already cleared both chambers of Congress. Having previously passed the Senate with a 68 to 30 vote, it sailed through the House this week with a decisive 308 to 122 vote.

    This bill is now on President Trump’s desk, making it the first major piece of crypto-focused legislation on track to become US law.

    Despite these monumental legislative achievements, the crypto markets have remained conspicuously unfazed. Bitcoin (BTC) is currently trading at $118,849, down 0.89% over the past 24 hours. Ethereum (ETH) is hovering at $3,389, down 0.27%.

    The broader altcoin market has also been mostly muted. The one notable exception is XRP, which is up over 8% on the day, continuing a strong bullish run it has maintained throughout the week.

    The market’s tepid reaction is further evidenced by liquidation data. According to Coinglass, 150,169 traders were liquidated in the past 24 hours, with total liquidations reaching nearly $490 million.

    The largest single liquidation was a $3.21 million ETH-USDT long position on the crypto exchange HTX, a sign of the choppy, directionless trading that has characterized the market.

    A tale of two markets: crypto stalls as Wall Street soars

    The crypto market’s indifference stands in stark contrast to the exuberance seen in traditional stock markets.

    Major US indexes surged to fresh record highs on Friday, as upbeat corporate earnings and stronger-than-expected economic data lifted investor sentiment.

    The S&P 500 jumped 0.54% to a new record close of 6,297.36, marking its ninth all-time closing high of the year. The tech-heavy Nasdaq Composite also hit its tenth record of 2025, climbing 0.74% to finish at 20,884.27, driven by strength in major tech stocks.

    The Dow Jones Industrial Average rose 229.71 points, or 0.52%, to close at 44,484.49.

    This rally in equities was supported by strong economic data, including a retail sales report for June that came in at 0.6%, beating expectations of 0.2%, and a drop in jobless claims, both signaling a still-resilient US economy.

    Strong earnings reports from companies like PepsiCo and United Airlines further boosted optimism as the second-quarter earnings season gets underway.

    This divergence highlights a curious moment in markets, where a significant, long-awaited regulatory victory for crypto has failed to generate the kind of bullish excitement currently being seen on Wall Street.
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  • XRP price outlook: $2 remains key amid increased volume

    XRP price outlook: $2 remains key amid increased volume

    XRP Price Outlook

    • XRP trades above $2.00 and could eye a decisive break above $2.30.
    • An uptick to $2.50 could confirm bullish continuation.
    • However, a drop below $2.00 may signal deeper corrections.

    The price of XRP is holding near $2 as top cryptocurrencies trade at key support levels.

    Most altcoins mirror Bitcoin’s trajectory, which saw a sharp decline over the weekend, largely attributed to heightened geopolitical tensions stemming from US military strikes on Iran.

    Despite its downturn to lows of $1.94, XRP demonstrates resilience.

    Bitcoin has also bounced above $100k, with bullish sentiment among investors signalling strength despite the volatile broader market.

    XRP price above $2 as volume spikes

    XRP has shown notable strength, rebounding from a weekly low near $1.94 as trading volume surged by over $3 billion in the past 24 hours.

    This spike in volume, coupled with the price holding above the critical $2.00 psychological support level, indicates robust buying interest.

    According to market analysts, increased trading volume during a price recovery often reflects renewed investor confidence and potential for sustained upward momentum.

    The broader cryptocurrency market has faced downward pressure due to US strikes on Iran, which intensified fears of a wider conflict.

    Bitcoin and Ethereum have also corrected, with Bitcoin trading just above $101k.

    Despite this, stock futures indicate investors are shrugging off the weekend’s sell-off, and oil prices have stabilized after a brief spike, suggesting markets are adapting to the geopolitical unrest.

    A crypto market bounce is possible if risk-on sentiment returns, but an escalation in the Middle East could trigger further declines.

    Ripple price prediction

    A bounce for cryptocurrencies comes as data from asset manager CoinShares shows digital asset investment products saw a 10th consecutive week of inflows for the week ending June 20.

    As per details shared on June 23, the crypto sector attracted $1.24 billion in exchange-traded funds last week, with Bitcoin leading with $1.1 billion for a second straight week of inflows.

    Meanwhile, Ethereum hit a 9th consecutive week of inflows with $124 million. Solana attracted $2.78 million and XRP $2.69 million.

    Analysts are cautiously optimistic about XRP’s future. Short-term forecasts suggest a potential breakout above $2.50 could push prices toward $3.00.

    XRP chart by TradingView

    The bounce to $2.00 suggests that bulls are defending this key level, positioning XRP for a possible short-term rally.

    Despite the RSI and MACD on the weekly chart, long-term projections are more ambitious.

    A break above the 20-week exponential moving average (EMA) will reinforce this outlook.

    Notable predictions for XRP include a potential rocket past $10, driven by increased institutional adoption and regulatory clarity.

    However, failure to hold above $2.00 could see prices retest April’s low of $1.60.
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  • Bitcoin tests key levels near $95K as regulatory tailwinds emerge

    Bitcoin tests key levels near $95K as regulatory tailwinds emerge

    Crypto news today: Bitcoin holds firm above $93K, fueled by record ETF inflows and bullish forecast

    • Bitcoin holds steady above $93,000, showing resilience after earlier correction.
    • US Spot Bitcoin ETFs saw massive $1.2B+ weekly inflow (“Pac-Man mode”), signaling strong institutional demand.
    • US Federal Reserve joined OCC/FDIC in withdrawing previous restrictive crypto guidance for banks.

    Bitcoin continues to demonstrate significant resilience, maintaining levels above the crucial $93,000 mark after weathering a notable correction earlier this year.

    This stability is underpinned by a confluence of factors, including surging institutional interest evidenced by record ETF inflows, increasingly bullish long-term price predictions, and a potentially easing regulatory landscape.

    A primary driver of the recent strength has been the remarkable influx of capital into US-listed spot Bitcoin exchange-traded funds (ETFs).

    These investment vehicles experienced substantial demand this week, attracting nearly $1.3 billion in net inflows, according to data from SoSoValue.

    Tuesday alone saw inflows nearing the $1 billion mark, representing the strongest single day since mid-January.

    This brings the total assets under management across these spot Bitcoin ETFs to an impressive $103 billion.

    BlackRock’s iShares Bitcoin Trust (IBIT) continues to lead the pack, accumulating $2.7 billion year-to-date, including $346 million just last week.

    Observing the broad participation across ten of the eleven available funds, Bloomberg senior ETF analyst Eric Balchunas described the activity vividly, stating the ETFs had entered “Pac-Man mode.”

    This widespread buying across multiple providers, rather than concentration in just one or two, suggests a broadening base of institutional conviction.

    The total value traded across all spot Bitcoin ETFs reached $496 million, reflecting significant market activity.

    Lofty projections: ARK Invest eyes $2.4 million bitcoin

    Fueling longer-term optimism, prominent investment firm ARK Invest recently made headlines by significantly raising its 2030 price targets for Bitcoin.

    Citing institutional investment as a primary catalyst, ARK lifted its “bull case” scenario from $1.5 million to a striking $2.4 million per Bitcoin by the decade’s end.

    The firm also increased its “base” case to $1.2 million and its “bear” case to $500,000.

    ARK research analyst David Puell explained the rationale, estimating Bitcoin could achieve a 6.5% penetration rate within the massive $200 trillion global financial system in their most optimistic scenario.

    Furthermore, the firm’s model incorporates Bitcoin’s growing acceptance as “digital gold,” projecting it could capture up to 60% of gold’s approximately $18 trillion market capitalization.

    Technical picture: holding support, eyeing breakout

    From a technical analysis perspective, maintaining current levels is seen as critical.

    Analysts emphasize the importance of Bitcoin holding support above the $93,500 zone to avoid potential downward pressure.

    Crypto analyst Rekt Capital suggested BTC needs to consolidate above this level, ideally securing a weekly close above it, to “resynchronize with the former Reaccumulation range.”

    Bitcoin has demonstrated its ability to trade above this mark this week, potentially reflecting its appeal as a safe haven amid ongoing geopolitical and trade uncertainties.

    Sustaining this support could pave the way for a retest of the $100,000 barrier and potentially new all-time highs, according to expert consensus.

    Further technical indicators point towards underlying market strength.

    The amount of Bitcoin supply held in profit has reportedly surpassed the 16.7 million BTC “threshold of optimism.”

    Historical analysis suggests that when Bitcoin consistently holds above this zone (as seen in 2016, 2020, and 2024), significant price appreciation often follows within months.

    Traders like CrediBULL Crypto are looking for “one more leg on the lower timeframes” to confirm the breakout, suggesting momentum could potentially carry prices towards the $150,000 region if sustained.

    Regulatory winds shifting? Fed withdraws guidance

    Adding a potential tailwind, US banking regulators, including the Federal Reserve, recently took steps to withdraw previous crypto-specific guidance issued to banks in 2022 and 2023.

    These earlier notices had often required pre-approvals for banks engaging in crypto activities and highlighted perceived risks.

    By joining the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) in rescinding this guidance, the Fed stated the move aims to ensure its “expectations remain aligned with evolving risks and further support innovation in the banking system.”

    While not creating new rules, this withdrawal effectively places decisions on crypto engagement more firmly in the hands of bank managers and compliance teams, pending potential future legislation from Congress.

    Fed officials noted they “will instead monitor banks’ crypto-asset activities through the normal supervisory process,” potentially signaling a less prescriptive regulatory posture from these key agencies.

    The combination of strong institutional inflows, ambitious long-term outlooks, supportive technicals, and a potentially less restrictive regulatory environment paints a compelling picture for Bitcoin as it holds key levels and eyes its next potential move higher.

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  • AVAX eyes $40 after key level retest

    AVAX eyes $40 after key level retest

    • Avalanche (AVAX) recently shattered a significant resistance level, rising to highs of $23.
    • The retreat from the barrier that had previously capped its upward momentum might offer bears some hope.
    • But could bulls maintain the pressure and target the key hurdle of $40 next?

    Avalanche’s recent price action follows a period of consolidation. While optimism remains, the AVAX token has dipped to near support with price around $21.

    Notably, AVAX traded in a tight range between $18 and $20.50 after bouncing off lows of $14.5 seen earlier in the month.

    The breakout to above $23 came amid Bitcoin’s spike to $94k, aligning with broader market performance. Upside momentum completed a significant recovery and formation of a potential cup and handle pattern.

    Buyer action has been accompanied by a surge in trading volume, signaling strong upward interest.

    Potential upside drivers of Avalanche price

    Market sentiment is buoyed by Avalanche’s robust fundamentals and a return to the spotlight for decentralized finance (DeFi) and gaming tokens. The Avalanche ecosystem has benefitted from this, including recent partnerships.

    Spot crypto exchange-traded fund applications and offering of other institution-focused AVAX products has bolstered the native Avalanche token. The US Securities and Exchange Commission has added to the excitement by acknowledging VanEck’s filing for a spot AVAX ETF.

    These developments provide a strong backdrop for AVAX’s price gains, as the network’s utility and scalability remain competitive in the layer-1 blockchain space.

    On-chain data provides further insight. Whale activity has increased, with large transactions spiking over the past week, suggesting accumulation by major holders. Meanwhile, the number of active addresses on the Avalanche network has risen by 15% in the last month.

    A surge above $20 could see AVAX return to above $28 and target a nearly 100% spike to above $40.

    Technical picture for AVAX price

    Bulls have to offer sustained buying pressure to break past key levels.

    Technical indicators are however bullish. The Relative Strength Index (RSI) is approaching 60, indicating growing momentum without entering overbought territory. Additionally, the Moving Average Convergence Divergence (MACD) has shown a bullish crossover, further supporting the case for continued upward movement.

    AVAX chart by TradingView

    However, challenges remain. The $23 and $28 levels, the latter coinciding with the 200-day moving average, could be a formidable resistance area.

    Avalanche’s breakout above $23 marks a pivotal moment, with technicals and fundamentals aligning for a potential rally to $40.

    While risks persist, the combination of strong network growth, bullish indicators, and increased on-chain activity positions AVAX for further gains, provided it can overcome the next resistance hurdle.

    Weakness to $20 could see AVAX price revisit the recent lows of $14.

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  • PI coin price drops 10% to key level despite major network news

    PI coin price drops 10% to key level despite major network news

    • Pi Network price has dropped nearly 10% in the past 24 hours.
    • Traders are likely to watch the $0.65-$0.75 range for signs of a breakout or further weakness.
    • Pi Network’s focus on real-world adoption positions it for long-term growth.

    Pi Network’s native token, PI, has experienced a sharp decline over the past 24 hours, falling to a critical support level despite significant ecosystem developments.

    The price drop comes as major cryptocurrencies struggle to hold onto gains.

    In the past 24 hours, PI price has dropped nearly 10% and cut weekly upside to about 14%, with the altcoin hovering near $0.66.

    Despite the expansion of the Pi Ad Network to all ecosystem dApps, Pi Network’s price is under short-term bearish sentiment.

    Tron and Cardano have also struggled, but what does this mean for the PI token?

    Key Pi Network developments

    In the past few days, Pi Network has posted notable network developments.

    It includes a major Chainlink integration that marks a pivotal step for the cryptocurrency, which brings real-time, accurate data for decentralized applications.

    For dApps, the collaboration means fresh potential for DeFi applications, prediction markets, and blockchain games, all of which could drive PI demand.

    It’s the same outlook for DeFi protocols such as lending or staking platforms.

    Meanwhile, the Pi Ad Network’s expansion to all ecosystem dApps introduces a new revenue stream for developers.

    Advertisers must purchase PI to fund campaigns, while developers earn PI through user engagement.

    Initially piloted with five apps in 2024, the Ad Network’s full rollout is expected to accelerate app development and token utility.

    However, these fundamentals aside, PI’s price action reflects market hesitation.

    PI price prediction

    Since hitting highs near $3 in February, PI has been on a steady decline.

    The token has shed significant value, with the current level about 77% of the all-time high.

    A look at the four-hour chart reveals a symmetrical triangle pattern, a technical setup often signaling consolidation before a breakout.

    Notably, this can go in either direction, and it’s downward for PI.

    Pi Network chart by TradingView

    The symmetrical triangle breakdown suggests sellers are capitalizing on uncertainty, possibly due to broader market conditions or profit-taking after earlier gains.

    It’s what likely has bears in control, a scenario that could push PI price below key levels.

    As can be seen above, the token is now testing support near $0.65. Other than the symmetrical triangle pattern, the relative strength index and the moving average convergence divergence give sellers an upper hand. The MACD indicates a recent bearish crossover, shifting short-term sentiment after a rejection around $0.75.

    If bulls fail to hold above $0.65, PI could slide toward $0.50.

    However, if bullish momentum builds, PI could break above $0.8 and rally toward $1.20 in the near term.

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  • Render (RNDR) price rallies as community passes key proposal

    Render (RNDR) price rallies as community passes key proposal

    • Render (RNDR) price was up 5% in the past 24 hours and 52% in the past 30 days.
    • The AI related crypto project has seen positive sentiment amid greater adoption of its technology.
    • A community vote has also passed a proposal to onboard cloud computing platform Beam.

    The price of Render rose sharply on Friday as the AI crypto token continued the outperformance seen this past week. RNDR traded more than 5% up to highs of $2.25 in the 24-hour period to the time of writing, with weekly and monthly gains at 13% and 52% respectively.

    Recent upward momentum has benefited from AI hype driven by forecasts from mainstream companies, including Microsoft, Nvidia and Palantir.

    RNDR price up as community votes for key proposal

    Render’s upside appears to have defied likely sell-off pressure after on-chain data revealed FTX/Alameda had moved over 974k RNDR tokens. While the transfer of the tokens, valued around $2 million at the time, was probably for selling purposes, the market’s reaction kept bulls in control.

    This positivity for the altcoin also came after a community vote passed the RNP-005: Beam Compute Client proposal.

    As the Render Network X account shared early Friday, the core proposal submitted on October 23 had passed. RNP-005 saw 1.4 million RNDR, or 99.79% of votes, support the onboarding of cloud platform Beam, which could become the second Compute Client leveraging Render Network’s GPUs for machine learning (ML) workloads.

    Beam’s cloud platform allows for the accelerated development and deployment of AI operations with GPUs. This will be possible without managing infrastructure, the proposal notes. 

    As such, integrating with this platform will enable Render’s decentralized GPU network to power the ML workloads. It’s a development that could see Render broaden its utility, with demand a factor for RNDR.

    With the community vote closed, the proposal has moved to the next stage of “Render Network Team Review.” If RNP-005 passes technical feasibility at this stage, the Render Foundation will move to publish the final vote – expected on Wednesday, next week.

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  • WINR Protocol price jumps 37%- here are the key network developments

    WINR Protocol price jumps 37%- here are the key network developments

    • WINR Protocol taps double-digit gains today, up 22% at the time of writing.
    • Gains of nearly 60% in the past month have come amid key network developments.
    • The protocol recently burned 70 million WINR tokens and launched the first on-chain 1000x Bitcoin (BTC) and Ethereum (ETH) futures.

    WINR Protocol, a decentralised iGaming infrastructure platform powered by the WINR token, has seen significant market traction in the past week. Today, the price of the protocol’s native token jumped more than 22% in 24 hours to hit its highest price level since August.

    WINR was trading around $0.05 at the time of writing, up 37% this past week and nearly +60% in the past 30 days. The token was however 57% down since its all-time high above $0.11 reached on March 21 this year.

    The recent gains have come amid a series of major developments for the platform. Is this why WINR price has been rising? Let’s have a look.

    Why is WINR Protocol price rising?

    Cryptocurrencies saw a massive spike in volatility early this week, with mega cap altcoins catapulted to key levels after Bitcoin’s increase to $35,000. This outlook could have aided WINR bulls.

    However, the altcoin appears to have been boosted by the platform’s several development milestones. Earlier this month, the protocol burned 70 million WINR tokens, permanently removing 7% of its maximum supply from circulation. 

    Last week, the Arbitrum community voted to allow the Arbitrum Foundation grant WINR 462,000 ARB to incentivize developer activity.

    These were then followed by this week’s release of the first on-chain 1000x Bitcoin (BTC) and Ethereum (ETH) futures.  The WINR Chain also announced on October 26 that its team was looking at becoming the “go-to execution layer for decentralized iGaming.”

    “With the WINR Game Engine, game providers can build their game logic on smart contracts and seamlessly integrate data with existing UIs,” the platform wrote in an announcement on X.

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  • Helium surges as Bitcoin and Ethereum hover at key levels

    Helium surges as Bitcoin and Ethereum hover at key levels

    • Helium rose double digits as did 1inch and NEM after US inflation data 
    • Bitcoin price on the other hand touched $31k on Coinbase and Ethereum hovered near $1.9k.
    • Consumer prices rose 0.2% month-over-month and 3% year-over-year in June.

    Bitcoin moved slightly higher on Wednesday after stock markets reacted positively to the latest US inflation data. However, the flagship cryptocurrency continued to hover near a crucial level as bulls looked to retest year-to-date highs.

    BTC was changing hands near $30,800 at 11 am ET, having touched intraday highs of $31k on Coinbase

    Elsewhere in the crypto market, the second largest cryptocurrency by market cap Ethereum was trading towards $1,900 as the total market cap rose 1.5% to above $1.24 trillion. The rest of the top 10 coins were also green at the time of writing. 

    Litecoin, which had plunged 10% in the past week by early morning, had recouped some of the losses and was 5% down in that timeframe.

    The biggest gainers in the past 24 hours among the top 200 by market cap were 1inch, NEM and Helium. All three had seen double digit upsides with HNT trading to highs of $1.48.

    Bitcoin, altcoins move higher on CPI data release

    US stocks opened higher on Wednesday too as the US consumer price index (CPI) data for June showed inflation had cooled year-over-year during the past month. Prices rose 0.2% month-over-month and 3% YoY in June, the latter a deceleration from the 4% recorded in May.

    According to data released by the US Bureau of Labor Statistics, CPI was at its slowest in June, with the last time it was at this pace being March 2021.

    Commenting on the CPI release, Charlie Bilello, Chief Market Strategist at Creative Planning Investor tweeted:

    “US CPI has moved down from a peak of 9.1% last June to 3.0% today. What’s driving that decline? Lower rates of inflation in fuel oil, gasoline, gas utilities, used cars, medical care, apparel, new cars, food at home, electricity and transportation. Shelter is the only major component that has a higher inflation rate than a year ago and it is a wildly lagging indicator (actual housing inflation is much lower w/ home prices/rents down YoY).”

    The Federal Reserve paused its interest rate hike cycle last month, although it noted it was likely to go for a 0.25% hike on another two occasions before the end of 2023. How markets react to upcoming central bank moves will be key to both equities and crypto.

    Jim Bianco of Bianco Research LLC notes markets still expects a 25 bps rate hike on July 26.

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  • Bitcoin price tests key resistance amid Hong Kong news

    Bitcoin price tests key resistance amid Hong Kong news

    • Bitcoin price rose to $27,500 on Coinbase early Tuesday, with the upside coinciding with positive crypto news from Hong Kong.
    • This is after the Securities and Futures Commission (SFC) announced that registered exchanges will begin allowing retail investors to trade BTC and ETH from 1 June.
    • Analysts say Bitcoin’s immediate price outlook needs a break above $27,600 for bullish continuation.

    Bitcoin (BTC) traded to highs of $27,500 on Coinbase as crypto prices bounced earlier on Tuesday.

    The upside for the world’s largest cryptocurrency by market cap came amid an extended struggle around the 27k area, and happened as bulls capitalised on positive market reaction to news out of fast-growing crypto hub Hong Kong.

    However, as of writing, the price of Bitcoin was hovering near $27,200 as bulls retreated from the resistance level marked by the 20-day moving average on the daily chart.

    BTC price rose amid positive news from Hong Kong

    On Tuesday, crypto news out of Hong Kong was that retail investors will as from 1 June be able to buy and trade digital assets.

    The announcement was made by the Securities and Futures Commission (SFC), which noted that crypto exchanges will soon be allowed to extend crypto trading services to retail investors. 

    According to the SFC, this will be effective 1 June, 2023, and tokens that receive the nod would require a 12-month track record. The tokens will also need to have a substantial market capitalization, a category that Bitcoin dominates.

    “The news of Hong Kong allowing retail investors to trade in BTC and ETH on registered digital asset platforms delivered a notable BTC price bump in a bleak market – gives you an idea of how significant this news is,” Noelle Acheson, the author of the Crypto Is Macro Now newsletter, said in a tweet.

    Acheson believes the next key step of this announcement is that indeed retail investors can trade Bitcoin and Ethereum on registered exchanges.

    $27,600 is a key level for BTC – analyst

    Despite the positive news, Bitcoin’s latest attempt to break to key levels above $28k look to hinge on overall market outlook. In particular, the headwinds currently in place regarding the US debt limit situation is one investors are likely to watch keenly.

    On what could be next for Bitcoin price, crypto analyst Rekt Capital says the critical resistance area that bulls must conquer for upside continuation is $27,600.

    “BTC may be forming an “exaggerated” Bullish Divergence on the Daily RSI. A potentially positive sign for some upside movement. However, [it is] important to realise that the key resistance to beat is ~$27600,” he noted.

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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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