Peter Brandt, a veteran crypto analyst, recently discovered an inverted or expanding triangle pattern in Bitcoin (BTC). This pattern, as analyzed through classical charting principles, has significant implications for Bitcoin’s price trajectory. Brandt’s assessment of the technical pattern formation sheds light on potential outcomes for Bitcoin’s price movements. Brandt’s examination of the chart revealed two
The defunct crypto hedge fund, Three Arrows Capital (3AC), is currently embroiled in a $1.3 billion lawsuit against TerraForm Labs, a bankrupt digital assets company co-founded by Do Kwon. The liquidators of 3AC are accusing TerraForm Labs of manipulating the market for Luna and TerraUSD, resulting in artificially inflated prices for these tokens. This alleged
The current market condition has placed many new Bitcoin investors in a state of financial stress. Metrics such as the Short-Term Holder MVRV (Market Value to Realized Value) and the standard deviation (SD) of the short-term holder Cost-Basis illustrate that newer market participants are facing significant losses on their bitcoin investments. The Short-Term Holder MVRV
Recent trading activities in Ethereum have revealed the formation of a bearish triangle pattern, which is pointing towards a potential significant breakout. If Ethereum breaks below the lower boundary of this triangle, it may result in a sharp decline towards the $2,160 support level. On the 4-hour chart, Ethereum’s price is currently below the 100-day
Unioverse is once again making waves in the gaming industry with the launch of its latest game, Hoverdrome. If you’re a fan of games like Mario Kart and Rocket League, then Hoverdrome is sure to grab your attention. This game takes the best aspects of these popular titles and adds a unique twist that is
Ethereum (ETH) recently experienced a significant downturn, dropping to $2,112, the largest market slump of the year. However, the cryptocurrency has since rebounded, gaining 8% over the last week and surpassing the crucial $2,600 level. This recovery has reignited hopes of reaching the $3,000 milestone. Market analytics firm CryptoQuant highlighted a substantial liquidation of long
The US spot Ethereum ETFs saw a total inflow of $4.9 million on Monday, showcasing growing interest in the cryptocurrency market. Among the ETFs, Grayscale Ethereum Trust (ETHE) stood out as it recorded no withdrawals, marking a significant turning point since its conversion to an ETF after experiencing 14 days of outflows. The trading volume
In a recent development, a US appeals court has made a significant decision regarding a class-action lawsuit against Binance.US, the American arm of the global Binance exchange. The plaintiff, Ryan Cox, accused Binance.US and CoinMarketCap of manipulating the price of the Hex token. Cox alleged that HEX was the best-performing cryptocurrency in 2020 and that
The Pro-Bitcoin Democrat House Representative, Ro Khanna, recently expressed his optimism regarding the release of a crypto regulation roadmap by the Biden administration. He believes that positive statements and a clear roadmap towards reasonable regulation will be issued in the coming weeks. Khanna emphasizes that these new regulations will not only ensure compliance for companies
In recent news, Sui (SUI) has experienced a remarkable 125% increase in just one week, largely attributed to the introduction of Grayscale’s Sui Trust. This surge has placed SUI among the top-performing cryptocurrencies, with a daily increase of over 9% and a weekly surge of 70%, currently valued at around $1 according to CoinGecko. The
