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  • JUP price prediction: Analyst says it could mirror SOL

    JUP price prediction: Analyst says it could mirror SOL

    • JUP price has retested a key resistance line after bouncing above $1.
    • Crypto analyst Rekt Capital suggests holding above support level will help bulls soar.

    As Solana price surges above $240 and nears its all-time high, crypto analyst Rekt Capital says Jupiter (JUP) could follow suit.

    The native token of the decentralized exchange (DEX) aggregator, which counts as a major ecosystem player for Solana, is attracting attention for its potential.

    “Jupiter was able to successfully retest the previous resistance area (red) into new support. In fact, JUP performed a volatile downside retest into the multi-month blue diagonal resistance as well. Continued stability here and JUP could follow SOL,” the analyst wrote on X on Nov. 18.

    Here’s the chart the analyst shared, indicating possible support levels for JUP on the weekly time frame.

    JUP weekly price chart by Rekt Capital

    JUP price at key level

    Earlier, the analyst had pointed to JUP’s bullish weekly close above $1.10. Noting that price was “showing initial signs of support,” Rekt Capital said:

    “JUP will need to form a base here at the red region to enable a move above $1.29 (black) which needs to be reclaimed for future trend continuation.”

    The altcoin rose to above $1.30 on Nov. 17, breaking to highs last seen in May. While profit taking deals have pushed JUP lower to $1.20, sentiment suggests a rebound is imminent. At the time of writing, JUP is hovering above the psychological $1 level, having bounced from lows of $1.04 to retest levels seen in May.

    Breaking to the supply zone means a rally riding broader market momentum could see buyers target the all-time high of $2.00 reached in January 2024.

    On the downside, the rejection at $1.30 could see bears push JUP beyond the primary support area. A retreat to below the horizontal support near $0.70 will bring the $0.50 area into view.

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  • Bitcoin, XRP and Vantard (VTARD) capture investors’ attention with price gains

    Bitcoin, XRP and Vantard (VTARD) capture investors’ attention with price gains

    Bitcoin, XRP and Vantard (VTARD) capture investors' attention with price gains
    • Bitcoin shows signs of a pullback after strong surge, with $100K still possible.
    • XRP rallies 15% after breaking key resistance, targeting $1.35 amid regulatory hope.
    • Vantard aims to offer exposure to meme coins without active trading through its native token VTARD.

    As the crypto market resurges on Donald Trump’s reelection, three tokens—Bitcoin (BTC), XRP, and VTARD—are making headlines with impressive price movements and strong investor interest.

    While Bitcoin is showing signs of a potential pullback after a meteoric surge, XRP is on a bullish streak following key technical breakouts. Meanwhile, Vantard, a new meme coin index fund, is gaining traction in its ongoing presale as investors look to capitalize on the “memecoin supercycle.”

    Analysts project a potential Bitcoin pullback after strong surge

    Bitcoin’s performance has been bullish, particularly in the wake of the US election. Bitcoin’s price surged past $93,000 before dipping to its current price of around $88,100.

    Hawkish comments from Federal Reserve Chairman Jerome Powell, suggesting that rate cuts will be slower than previously anticipated, add weight to the bearish sentiment.

    Market participants are starting to bet on a potential pullback as the overall sentiment shifts toward caution, but there remains a strong contingent of market analysts expecting Bitcoin (BTC) to break the $100,000 barrier in the long run.

    The next few weeks will be crucial for Bitcoin, as the market watches how the implied volatility dynamics and broader economic factors, including interest rates, play out.

    If BTC can break past its resistance levels, a surge towards the $100,000 mark could still be possible, but the increasing pressure on altcoins and BTC’s inability to secure a solid position above $90,000 points to a potential correction in the short term.

    XRP breakout ignites bullish momentum

    XRP has emerged as one of the top performers in the crypto market, gaining nearly 15% and reaching the $0.80 mark in a remarkable rally.

    This XRP price surge comes after a long-awaited breakout from a descending triangle pattern that had constrained the token for over three years.

    On November 12, XRP broke through the $0.58 resistance level, triggering a wave of buying that saw its price surge by 40% in a short period. The rally was further bolstered by the news that SEC Chairman Gary Gensler may resign, fueling optimism that regulatory pressures on Ripple and XRP could ease.

    The key resistance level at $0.7611 was also broken, with XRP managing to retest this level and continue its climb.

    Currently, the next significant resistance lies at $0.9368, and if XRP surpasses this, the next target could be as high as $1.35—a potential 68% gain from its current price.

    The positive technical outlook, combined with regulatory optimism, has ignited strong investor interest in XRP, making it a standout in an otherwise mixed market.

    However, while the bullish momentum is undeniable, broader market conditions and regulatory shifts will continue to influence XRP’s trajectory.

    If the positive news surrounding Ripple’s legal battle with the SEC continues to unfold favourably, XRP could see further gains, but volatility remains a constant factor in the crypto space.

    Vantard, a Meme Coin Index Fund gains traction in presale

    Vantard, the latest entrant to the meme coin market, has garnered significant attention due to its innovative concept: a Meme Index Fund that captures the top meme coins of the current cycle. The index fund is designed to give investors exposure to the explosive potential of meme coins without requiring active trading.

    As it prepares to officially launch its platform, Vantard has already raised over $826,874 in its ongoing presale, with the current price of its native token, VTARD, set at $0.00014 per token.

    Notably, as the presale progresses, the price is set to increase to $0.00015 in the next stage and continue rising to $0.00019 in the final presale stage.

    According to Vantard’s whitepaper, it aims to allow investors to ride the “memecoin supercycle,” a term used to describe the ongoing surge in meme coin popularity. With the rise of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), Vantard offers a low-touch, index-like investment vehicle that aims to capitalize on this trend.

    Investors holding VTARD tokens can redeem them for a share of the assets in the fund’s treasury, which includes Solana-based meme coins. This concept appeals to both seasoned crypto traders and newcomers looking to benefit from meme coin volatility without the need for constant monitoring and trading.

    Vantard is positioning itself as the “ETF of meme coins,” bringing traditional finance strategies to the world of cryptocurrencies.

    With global liquidity on the rise and a growing appetite for speculative assets, Vantard presents a unique opportunity for those looking to profit from the growing popularity of meme coins. Its presale success signals a strong market interest, and as the memecoin supercycle continues, VTARD’s potential for high returns could be a key attraction for investors.

    For more information on Vantard and its ongoing presale, you can visit the project’s official website here.

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  • Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

    Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder

    • The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin
    • Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen
    • When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 Bitcoin halving events

    Donald Trump’s re-election into the White House isn’t “the main story” for Bitcoin’s recent price rally, says Onramp Bitcoin’s co-founder.

    In a post on X, Jesse Myers said the main reason is that the market is at the “6+ months post-halving” mark.

    Taking place every four years, the last Bitcoin halving occurred in April when the block reward dropped from 6.25 Bitcoin to 3.125. As a result, each new block becomes harder to solve with a lower reward.

    A reduction in Bitcoin supply typically means an increase in the price of Bitcoin. The next Bitcoin halving is expected to occur sometime in 2028.

    According to Myers, a “supply shock has accumulated,” meaning “there’s not enough supply available at current prices to satisfy demand,” adding that a “supply-demand price equilibrium must be restored.”

    However, the only way Myers believes this will happen “is for the price to go higher, which will flywheel into mania and a bubble, but that’s how this thing works.”

    Post-halving bubbles

    Supplying a chart, Myers indicated that the market is currently at the start of the post-halving bubble. Based on his data, Bitcoin’s price will continue its upward trajectory before peaking to new highs and dropping to current levels.

    Jesse Myers’ Bitcoin post-halving chart. Source: Jesse Myers

    “It sounds crazy to say there will be a reliable, predictable bubble every 4 years,” said Myers. “But then, there’s never been an asset in the world where new supply creation is halved every 4 years.”

    Post-halving bubbles happened in the 2012, 2016, and 2020 Bitcoin halvings, said Myers.

    The recent Bitcoin price rally comes amid Trump’s re-election into the White House. Based on his campaign trail in the lead-up to election day, Trump came across as pro-crypto compared to current Vice President Kamala Harris.

    Last week, Senator Cynthia Lummis also reaffirmed plans that the US is going to build a strategic Bitcoin reserve. If passed, the senator’s Bitcoin Act would propose directing the US Treasury to buy one million over the next five years.

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  • Bitcoin breaks $87k; here’s what this analyst says about BTC price

    Bitcoin breaks $87k; here’s what this analyst says about BTC price

    • Bitcoin has hit a new high above $87,000 and could bounce past $100,000 amid bullish momentum.
    • If it happens, the bull market case is for a rally to $150k, an analyst says

    With Bitcoin rallying to a new all-time high above $87,000, the overall sentiment suggests it’s likely to continue higher. Although a breather could be due, analysts are suggesting this might just be a start of a major bull run for the benchmark crypto asset.

    Bitcoin hits $87k: What next?

    BTC rallied higher after breaching $84k amid MicroStrategy’s $2 billion worth of bitcoin purchase. The upward move now sees it trade above $87k. This is after the momentum carried from the past week, which saw Donald Trump become president-elect.

    According to crypto analyst Kaleo, the next stop for BTC could be $90k before a brief consolidation. However, this might offer the next upward bounce.

    Now, past performance is not an indicator of future gains, the market knows. Nonetheless, crypto analyst Kaleo says should Bitcoin price take a similar trajectory to its previous cycle, it could stall around $90k. This should however be only for a brief period before the upside momentum returns to push bulls beyond $100k.

    “When Bitcoin finally made a clean break above the previous cycle’s all time high in December of 2020, it ripped 22% higher without pulling back over the course of several days before it slowed down a bit,” the analyst posted on X. “It spent about [a] week consolidating [there] prior to beginning another 75% up only run over the course of the next few weeks,” he added.

     

    Per the chart the analyst shared, a bull market projection has Bitcoin price at $150k with a 75% breakout. Things may not play out as such, particularly with the market never moving in a straight line. Regardless, the long term view is super bullish for Bitcoin.

    “The fun in this bull market is just getting started,” the analyst opined.

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  • Unity COO: It’s “disingenuous” to say Trump’s win directly caused Bitcoin price rise

    Unity COO: It’s “disingenuous” to say Trump’s win directly caused Bitcoin price rise

    An image of a Bitcoin in front a background with arrows pointing up
    • Bitcoin reached a high of $75,317 in the early hours of this morning
    • In September, Bernstein analysts predicted Bitcoin to reach between $80,000 and $90,000 by the end of 2024 if Trump won
    • Unity’s COO said to CoinJournal said it was “disingenuous” to say Trump winning the US election was the sole reason Bitcoin’s price went up

    Bitcoin rose to a record high of over $75,000 early this morning as voting results signalled a Donald Trump win for the White House.

    Data from CoinMarketCap shows Bitcoin achieved a high of $75,317 around 6:25 this morning. Before the election results started coming in last night, Bitcoin was trading at around $69,000.

    However, as the evening progressed and into the early morning, Bitcoin continued an upward trajectory before reaching its new all-time high.

    Bitcoin’s last all-time high took place in March when it reached $73,000.

    Bitcoin’s all-time high of over $75,000. Source: Coinmarketcap

     

    Data from AP News shows Trump has taken 277 of the electoral results compared to Vice President and presidential candidate Kamala Harris’ 224.

    Will the price rise continue?

    While the new high comes amid the US election results, many will be wondering whether this upward movement will continue. In September, Bernstein analysts predicted that Bitcoin could reach between $80,000 and $90,000 by the end of 2024 if Trump won the presidential election.

    According to James Toldeano, COO of self-custody wallet Unity, people need to realize that data based on the 2012, 2016, and 2020 US elections doesn’t reveal consistent patterns for the crypto market concerning election results.

    “Some have looked at the 2020 election and seen the price rise from $13,760 prior to the election on November 1, to $19,698 following the election on December 1, and immediately asserted it was the election that drove the increase,” said Toldeano to Coinjournal.

    In reality, Toldeano added, several factors contributed to the price rise, including US stimulus payments, increasing interest from companies like MicroStrategy buying Bitcoin, and people seeing Bitcoin as a safe investment during the Covid pandemic.

    “While the election happened during this time, it’s disingenuous to say it directly caused the price increase,” he said.

    In the long-term, it won’t be the election that moves the crypto market, but “broader macroeconomic events, technological advancements, shifting market sentiment, and factors outside of the next President’s control,” Toldeano explained.

    Pro-crypto

    Former US President Donald Trump has come across as more crypto-friendly compared to Harris.

    Back in May, Trump promised that, if he was re-elected, he’d free Ross Ulbricht, the Silk Road creator. Ulbricht has already served 11 years in prison. In August, Trump also promised to make America the “crypto capital of the planet.”

    In September, Trump became the first US president to use the Bitcoin network. He achieved this after sending a Bitcoin transaction at PubKey, a crypto-themed bar in New York ahead of his campaign rally in Long Island.

    On the flip side, Harris has been muted about her stance on crypto despite saying her administration would support a crypto regulatory framework if she became the next US president.

    “Incoming President Trump has the power to save crypto in the US where urgent change is needed,” said Jesper Johansen, CEO and founder of Northstake, an Ethereum staking marketplace, to Coinjournal.

    “First amongst the new administration’s priorities should be to define staking as an opportunity for US investors,” Johansen continued. “The question still lingers: is staking a commodity or a security?”

    Johansen said that $6 billion is sitting in Ethereum exchange-traded funds (ETFs), which aren’t being staked, meaning investors are missing out on economic opportunities. According to Johansen, this could be one of the reasons why the uptake of Ethereum ETFs hasn’t been as popular as Bitcoin ETFs.

    “Once these core issues have been solved, changes are needed within the SEC to ensure that crypto is viewed as a vehicle of innovation, rather than something to be feared,” he added.

    Ahead of the election, Trump said he’d remove Gary Gensler, chair of the US Securities and Exchange Commission (SEC); however, it remains to be seen whether this will happen because the SEC is an independent federal agency.

    At the time of publishing, Bitcoin is trading at around $74,000.

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  • Bitcoin Dogs (0DOG) price prediction: a potential surge in ‘Uptober’

    Bitcoin Dogs (0DOG) price prediction: a potential surge in ‘Uptober’

    Bitcoin Dogs (0DOG) price prediction: a potential surge in ‘Uptober’
    • October, known as “Uptober,” historically boosts Bitcoin prices significantly.
    • Bitcoin Dogs (0DOG) could surge alongside BTC, with predictions of 100X growth.
    • Upcoming catalysts include a Telegram game and NFT collection driving demand.

    As October unfolds, the cryptocurrency market is buzzing with excitement, and Bitcoin Dogs (0DOG) is emerging as a prominent player in this landscape.

    Historically known as “Uptober,” this month has seen Bitcoin (BTC) experience significant gains, averaging around 22% in previous years. Analysts are optimistic that Bitcoin Dogs, as a leading beta play in this market, will follow suit and deliver impressive returns for investors.

    Historical context and macro conditions

    Bitcoin’s average performance through October indicates a strong likelihood of hitting $73,000 before the month’s end.

    Coupled with China’s stimulating economic measures and expectations of a 50 basis point cut in interest rates from the Federal Reserve, conditions appear ripe for risk assets, including cryptocurrencies.

    In addition, recent geopolitical tensions in the Middle East, particularly with missile launches from Iran, have introduced volatility into the markets.

    Historically, such events often present opportunities for savvy investors, as they tend to buy at depressed price levels. The current environment probably presents a last chance to acquire Bitcoin Dogs before potential price surges as market sentiment shifts.

    The case for Bitcoin Dogs (0DOG)

    Bitcoin Dogs is attracting significant attention due to its positioning within the Bitcoin ecosystem. As the first ICO launched on BTC, 0DOG offers investors a unique opportunity to participate in a historic event that could mirror the early days of Bitcoin itself. The token is a BRC-20 token, meaning it is soft-pegged to Bitcoin’s price and typically moves in tandem with the leading cryptocurrency.

    Analysts are excited about Bitcoin Dogs not just because of its price potential but also due to upcoming catalysts. The community eagerly anticipates the launch of a Telegram game, along with an NFT collection.

    There is a growing trend in demand for Telegram games, and if Bitcoin Dogs’ offering gains traction, it could quickly elevate the token into the top 100 cryptocurrencies by market cap.

    0DOG price predictions for Q4 2024

    Bitcoin Dogs (0DOG) is currently trading at $0.007064, reflecting a 2.8% increase in the last 24 hours. With a 24-hour trading range of $0.006616 to $0.007354, the token has shown resilience amidst broader market fluctuations.

    Looking forward to Q4 2024, analysts predict that 0DOG could see a price range between $0.76 and $1.12. This upper estimate represents a staggering 100X increase from its current market cap, underscoring the potential for explosive growth. The key drivers behind this optimism include the anticipated performance of Bitcoin itself, with forecasts suggesting that BTC could smash past $74,000.

    As liquidity conditions improve and the broader crypto market begins to climb, the fear of missing out (FOMO) among investors will likely kick in, paving the way for another altcoin mania. Being a part of the leading meme coin network, Bitcoin Dogs stands to benefit significantly from this momentum.

    Conclusion

    The narrative surrounding Bitcoin Dogs is compelling, particularly as Uptober has historically proven to be one of the best months for Bitcoin.

    With analysts expecting significant gains in BTC, 0DOG is poised to capitalize on this upward trend. Investors looking for leveraged returns on Bitcoin would do well to consider acquiring 0DOG during this pivotal month.

    If interested in 0DOG, you can visit the official Bitcoin Dogs website to learn more.

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  • SUI price surges as TVL hits $1.3 billion

    SUI price surges as TVL hits $1.3 billion

    Grayscale introduces Grayscale SUI Trust, boosting SUI price
    • Sui has seen a more than 44% spike in price in the past week and 65% in 30 days.
    • Gains come after the Grayscale Sui Trust opened for accredited investors.
    • The SUI network’s total value locked has surpassed $1.34 billion.

    SUI price has surged by more than 44% in the past week to trade above $1.67. The gains include a more than 65% spike in the past 30 days. This sees the native token of the layer 1 blockchain platform reach highs last seen in early April.

    What catalyzed SUI price surge?

    Sui has experienced a notable surge in volume after Grayscale announced its Sui Trust was now open to accredited investors.

    Daily volume for SUI skyrocketed after the news, and price followed, hitting levels above $1.

    SUI price on CoinMarketCap

    Sui’s price rally to above $1.67 has also coincided with a sharp increase in total value locked in various decentralized finance protocols in the Sui ecosystem. OKX Ventures pointed to the Grayscale Sui Trust’s boost to SUI market credibility as institutional interest emerged.

    Sui TVL hits $1.3 billion

    The bullish sentiment around this outlook is showing in the on-chain activity that has the TVL hitting $1.34 billion.

    According to DeFiLlama, Sui’s TVL rose from about $250 million at the start of 2024 to cross $1 billion in May. However, it dropped to $462 million on Aug. 5 amid the cryptocurrency market crash that pushed Bitcoin price below $50k.

    Notable though is the spike back to $1 billion and acceleration to $1.34 billion in less than a month. It means a more than 377% spike year-to-date and 47% month-to-date.

    Sui’s growing DeFi ecosystem that’s behind this surge include increased adoption for protocols across lending, decentralized exchanges, real-world assets, derivatives and yield.

    Navi Protocol has seen its TVL increase 34% month-to-date to over $449 million.

    Lending protocols Scallop and Suilend have respective TVL readings of $246 million and $203 million. It represents a 34% and 100% MTD spike respectively.

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  • Ethereum Foundation sells 300 ETH as price hits $2.5k

    Ethereum Foundation sells 300 ETH as price hits $2.5k

    • The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks
    • On September 20, the non-profit sold 300 ETH for over $760,000 as Ethereum’s price rose to above $2,500

    The Ethereum Foundation has once again dumped more Ether tokens, this time offloading 300 ETH worth more than $760,000.

    According to on-chain data, the foundation sold the 300 ETH for an average of $2,543 – which is a level that is 5% up on intraday lows of $2,440.

    In recent days, the organization had stopped its selling spree. Before the brief lull, the Ethereum Foundation had become one of the top ETH holders to dump as prices stalled. But on September 20, the dump resumed.

    Ethereum Foundation has sold Ether every four to seven days

    On September 6, the Ethereum Foundation sold 100 ETH for $226,868. It’s a sale that brought the foundation’s increased selling across three weeks to 650 ETH, with these valued at about $1.5 million.

    According to Spot On Chain, a on-chain insights platform, the non-profit organization has sold 950 ETH since the start of September. These sales amount to over $2.2 million, with the average sale price being $2,392.

    The Ethereum Foundation has sold the native Ethereum token every four to seven, on-chain data shows.

    In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million, with year-to-date totals at the time reaching 1,766 ETH sold for over $4.8 million.

    The latest dump comes after Ethereum’s price surged from under $2,200 levels reached earlier this month.

    At the time of writing, ETH traded around $2,552, roughly 5% up in the past 24 hours and +8.5% in the past week.

    These gains have come as Bitcoin’s price surged to above $63,000 after this week’s Fed moved to cut interest rate by 0.5%.

    Earlier, CoinJournal highlighted that five Satoshi era Bitcoin wallets that had been dormant for 15 years, woke up and transferred 250 BTC.

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  • Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

    Bitcoin (BTC) price targets $63k as crypto market awakens after Fed rate cut

    Bitcoin (BTC) price breaks above $62K as crypto market awakens after Fed rate cut
    • Bitcoin has broken past $62K post-Fed rate cut; next resistance at $63K.
    • Ethereum and Solana have also surged, reflecting a broader crypto market rally.
    • Caution remains due to economic uncertainties and potential regulatory issues.

    Bitcoin (BTC) price has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

    The move by the Fed, aimed at bolstering economic growth and mitigating recession risks, has ignited a rally across digital assets. The monetary policy adjustment has not only energized Bitcoin but also lifted a broad range of altcoins and risk assets.

    Next Bitcoin (BTC) price resistance level at $63k

    Currently trading around $62,096, Bitcoin’s price has demonstrated a solid 24-hour gain of 2.29% and a more impressive 7-day increase of 6.20%.

    Most notably, the price breach above the $62,000 mark represents a crucial psychological milestone for Bitcoin, following a period of consolidation near $60,000.

    Technical analysis highlights that Bitcoin’s next significant resistance level is positioned at $63,000, with the potential for further gains if this barrier is surpassed. The upper boundary of Bitcoin’s Bollinger Bands indicates heightened volatility, suggesting that while a short-term profit-taking phase may occur, the overall trend remains strongly bullish.

    Support is firmly established at around $60,100, acting as a critical floor that has been repeatedly tested and held firm.

    Investor sentiment towards Bitcoin is largely positive, with increased trading volumes reflecting growing institutional interest.

    As Bitcoin’s (BTC) price continues to climb, it benefits from a broader narrative of cryptocurrencies serving as a hedge against traditional market volatility and inflation fears, which have been exacerbated by the Fed’s dovish stance.

    Ethereum and Solana lead as altcoins mirror Bitcoin’s surge

    The rate cut by the US Federal Reserve has not only impacted Bitcoin price but has also spurred a broader rally in the cryptocurrency market, lifting major altcoins alongside Bitcoin (BTC).

    Ethereum (ETH), for instance, has surged past $2,400, marking a 24-hour increase of 4.94% and a 7-day rise of 2.97%. Ethereum’s price reached $2,430 before settling slightly, mirroring Bitcoin’s bullish trend. Technical indicators show Ethereum facing immediate resistance at $2,430, with potential for further gains if it breaks above this level.

    Solana (SOL) has also seen significant price movements, surging by 6.03% to reach $138.65. This gain underscores renewed confidence in Solana’s ecosystem and its applications in decentralized finance (DeFi) and NFTs.

    Other altcoins, such as Ripple (XRP) and Shiba Inu (SHIB), have also experienced notable increases, with XRP rising by 1.20% to $0.59 and SHIB climbing 7.85% to $0.00001427.

    Analysts remain cautious

    Despite the overall positive sentiment, market participants remain cautious. Mixed reactions and concerns about the sustainability of the rally are prevalent. Analysts suggest that while the rate cut has provided a significant short-term boost, the broader economic uncertainties and potential regulatory challenges could impact future performance.

    In particular, Presto Research notes that the market remains divided, highlighting the need for relief from growth concerns to maintain upward momentum.

    Amid the mixed market outlook, the coming months will be critical in determining whether the current Bitcoin (BTC) price rally can sustain momentum and push digital assets to new highs.

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  • Bitcoin price jumps to a three-week high

    Bitcoin price jumps to a three-week high

    Bitcoin price jumps to a three-week high
    • Bitcoin price has surged 5.6%, hitting a three-week high of $61.1K on Tuesday morning.
    • Altcoins like Celestia, Immutable X, and Near have seen double-digit percentage gains.
    • Crypto stocks have risen modestly ahead of the Fed’s expected rate cut announcement.

    Bitcoin price has surged to its highest level in three weeks, triggering gains across the cryptocurrency sector and related stocks. It soared 5.6%, reaching $61.1K by 11:55 a.m. ET before pulling back to around $61k.

    Bitcoin price jumps to a three-week high

    The surge marks a sharp reversal from the quiet start to the week, signalling renewed interest in digital assets.

    Altcoins and Bitcoin price soaring ahead of Fed cuts

    Besides Bitcoin, other major cryptocurrencies have also seen significant gains, with Ethereum (ETH) advancing 4.2% to $2.38K.

    Notably, some altcoins have outpaced the larger tokens. For example, Celestia (TIA) has seen a 15.7% increase, Immutable X (IMX) has risen by 14.8%, Near Protocol (NEAR) is up 9%, Uniswap (UNI) has climbed 8.9%, and Sui (SUI) has gained 8.1%.

    The rally comes just ahead of the Federal Reserve’s highly anticipated decision on interest rates.

    Market analysts widely expect the central bank to lower rates for the first time in four years. With inflation largely under control and the labour market showing signs of cooling, many believe the Fed will adopt a more accommodative stance.

    Lower interest rates are typically bullish for cryptocurrencies, as reduced borrowing costs make traditional savings and investment vehicles less attractive. As a result, investors often turn to riskier assets like cryptocurrencies in search of higher returns.

    Crypto-focused stocks also surge

    Crypto-focused stocks have also benefited from Bitcoin’s rally, though their gains were generally more modest compared to digital tokens.

    MicroStrategy (MSTR), a company known for holding large reserves of Bitcoin, inched up by 0.6%.

    Crypto exchange platform Coinbase Global (COIN) has risen by 3%, while crypto investment firm Galaxy Digital (OTCPK) has gained 5.4%.

    In the crypto mining sector, Riot Platforms (RIOT) has advanced 2.4%, MARA Holdings (MARA) has risen by 1.9%, and HIVE Digital Technologies (HIVE) has climbed 4.3%. Bit Digital (BTBT) saw the largest jump, gaining 13%, followed by Hut 8 (HUT) with a 6.6% rise and CleanSpark (CLSK) up 3.1%.

    As the broader stock market also experience buying pressure ahead of the Federal Reserve’s pivotal decision, the crypto sector continues to ride the wave of optimism surrounding the potential for lower rates and increased investment in digital assets.

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