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BlackRock and Cathie Wood’s Ark Invest have reportedly sold off some of their BTC holdings. This follows a veteran trader’s prediction that the Bitcoin price would drop below $100,000. BlackRock, Cathie Wood’s Ark Dumps BTC Amid Market Downturn BlackRock recently sold 490 BTC worth $68.7 million, alongside $87.2 million in Ethereum sales. Despite the selloff,
The post Cathie Wood’s Ark And BlackRock Dump Bitcoin as Veteran Trader Predicts BTC Price Crash appeared first on CoinGape.
Ethereum opened trading at $1,913 on Wednesday, March 19, consolidating within a 5% range below the $2,000 resistance as investors awaited the U.S. Federal Reserve’s rate decision.
Ethereum price has remained trapped within a narrow range below $2,000, weighed down by uncertainty surrounding the Hoodi update and the Federal Reserve’s monetary policy stance.
While Ethereum was once projected to surpass Bitcoin in market capitalization, thanks to its decentralized finance (DeFi) and smart contract capabilities. However, Bitcoin has widened the valuation gap, outperforming ETH significantly in recent weeks.
The BTC/ETH ratio, which tracks the relative performance of both assets, hit a record high of 44.6 on March 14. With Bitcoin trading at $83000 and Ethereum at $1,900, 1 BTC can now purchase over 44 ETH, up 30% from the 1:33 ratio observed at the recent lows of February 25.
Ethereum’s sharp devaluation can be attributed to two key factors. Firstly, Trump’s new trade tariff policies have rattled global markets, prompting crypto investors to seek safety in Bitcoin over Ethereum.
Secondly, ETH price has struggled with network scalability issues and failed updates, which have dampened investor confidence.
Historical data suggests that Ethereum’s devaluation has accelerated after the Ethereum Merge, with multiple failed network upgrades pushing ETH supply above pre-Merge levels.
The Ethereum Foundation attempted to regain control by reshuffling leadership in February, yet investor sentiment remains bleak following the disappointing Pectra and Hoodi updates.
For context, Ethereum DeFi’s total value locked (TVL) was $118 billion on February 19.
However, as per DefiLlama data on March 19, that figure has now plunged to $89 billion, marking a $29 billion capital outflow—25% of the total deposits within Ethereum’s DeFi ecosystem.
This aligns with ETH’s 30% price decline, reinforcing Bitcoin’s dominance as the BTC/ETH trading ratio hit fresh highs.
The $29 billion drop-off in Ethereum’s DeFi TVL, coupled with continued scalability struggles ahead of the Fed rate decision heigtens bearish risks ahead. As liquidity dries up in the DeFi ecosystem, ETH coins previously locked in smart-contracts trickle into the short-term market supply.
Hence, if the capital outflows persist, ETH could face further downward pressure, potentially retesting the $1,500 support zone. Additionally, with Bitcoin dominance widening, ETH price risks losing more market share in the near-term especially if US Fed rate decision falls below market expectations on Wednesday.
Ethereum price forecast signals lean neutral as it consolidates near $1,941 after a prolonged downtrend, with key technical indicators signaling potential volatility ahead.
The 50-day Exponential Moving Average (EMA) at $2,413 and the 100-day EMA at $2,695 indicate a bearish trend, while the 200-day EMA at $2,851 reinforces long-term resistance.
Ethereum remains firmly below these moving averages, highlighting persistent selling pressure. However, a bullish reversal could emerge if buyers regain momentum above short-term resistance levels.
The Bearish Balance Power (BBP) indicator at -107.25 suggests that sellers have dominated price action, maintaining downward pressure over the past month.
The recent series of lower highs and lower lows further confirm bearish market structure. However, decreasing volume on red candles implies that selling momentum may be weakening, leaving room for a potential relief rally.
A breakout above $2,100 could trigger a short squeeze, forcing bears to cover positions, which may result in a rapid move toward $2,400-$2,500 before an ultimate correction.
If the U.S. Federal Reserve’s rate decision on Wednesday sparks a positive market reaction, Ethereum could swiftly breach $2,100, invalidating the bearish outlook and exposing short sellers to significant liquidations.
Failure to reclaim this level, however, could lead to another retest of $1,700-$1,500, extending the current downtrend.
The post Ethereum DeFi Ecosystem Sheds $29 Billion in 30 Days as BTC/ETH Ratio Hits All-Time Highs appeared first on CoinGape.
The post $450M in Crypto Tokens Set to Flood Market This Week appeared first on Coinpedia Fintech News
A wave of new token unlocks is starting from August 11 and will continue to August 18th. This will likely affect the market by changing the supply dynamics. Usually, large token unlocks tend to cause sharp, short-term price fluctuations and increased trading volume, and it can also lead to extreme price volatility.
According to Tokenomist, in the next seven days, major cryptocurrencies like Aptos, Arbitrum, and Avalanche will undergo scheduled token unlocks.
Various other tokens like Melania Meme, io.net, Onyxcoin, Solv Protocol, Oasis, etc. will each unlock millions of tokens.
The scale of a token unlock directly affects the crypto market. Larger unlocks, especially those exceeding 5% of the total supply, tend to trigger more pronounced price drops and heightened volatility.
A rise in available tokens could lower prices if demand doesn’t grow at the same rate, as it happened with the Pi coins. It can also shape the investor’s sentiment and market trend, depending on how the tokens are used, held, sold, or invested.
The post $450M in Crypto Tokens Set to Flood Market This Week appeared first on Coinpedia Fintech News
A wave of new token unlocks is starting from August 11 and will continue to August 18th. This will likely affect the market by changing the supply dynamics. Usually, large token unlocks tend to cause sharp, short-term price fluctuations and increased trading volume, and it can also lead to extreme price volatility. Millions of New …
The post Litecoin Price Prediction: Is Now a Great Opportunity to Buy LTC? appeared first on Coinpedia Fintech News
The rise of Bitcoin (BTC) price above $95.5k in the past two days, has sparked a surge in altcoin speculation, led by Litecoin (LTC). The demand for risky crypto assets has helped LTC price signal bullish sentiment, in the near future, especially after consolidating in the past few years.
According to the latest market data, LTC price surged over 14 percent in the last two weeks to trade about $87.38 on Friday, during the late North American session.
In the weekly timeframe, LTC price has respected a rising logarithmic trend established in the past six years. Following the recent rebound, LTC price is well positioned to retest its all-time high above $359 in the near term.
For leveraged crypto traders, placing a stop loss slightly below $62 and a midterm target of about $359 will present a loss-to-win ratio of 0.42 to 2.9. The midterm bullish sentiment for LTC price is bolstered by the fact that the altcoin has formed higher high and higher low since late 2022 to date.
The Litecoin network has experienced significant growth in the past few years, catalyzed by the rising demand from institutional investors. Several fund managers – led by CoinShares, Grayscale, and Canary Capital – are seeking to offer spot LTC ETFs in the United States, in the near future.
As a result, the volume of larger transactions than $100k on the Litecoin network surged by $52.33 billion in the past seven days. According to market data from IntoTheBlock, LTC price recorded a correlation with BTC of 0.88 out of 1 in the past 30 days.
The post Litecoin Price Prediction: Is Now a Great Opportunity to Buy LTC? appeared first on Coinpedia Fintech News
Litecoin price has moved in tandem with Bitcoin price in the past 30 days, amid ongoing gradual bullish breakout. The anticipated approval of spot Litecoin ETFs in the United States has sparked a sharp uptick in demand by institutional investors. The rise of Bitcoin (BTC) price above $95.5k in the past two days, has sparked …