Dig Deeper, Invest Smarter
Michael Saylor and Strategy (formerly MicroStrategy) can make history with their next Bitcoin purchase, sending holdings toward the 600K BTC mark. Saylor has flashed the tell-tale signal for an incoming purchase as corporate adoption soars to previously unseen levels. Michael Saylor To Break Bitcoin Buying Record Strategy founder Michael Saylor has signaled an intention to
The post Michael Saylor To Extend Strategy Bitcoin Holdings, Eyes 600K BTC Milestone appeared first on CoinGape.
Ethereum (ETH) is down 5% in 24 hours amid a widespread crash across the broader cryptocurrency market. However, the ETH/BTC ratio has dropped to test the 2021 bull market support that catalyzed an over 4,000% rally. As this ratio rises, what does it mean for Ethereum price, and can the largest altcoin reclaim $4,000? Ethereum
The post What to Expect from Ethereum Price as ETH/BTC Tests 2021 Bull Market Support appeared first on CoinGape.
XRP price has recorded a surge of over 4% today, indicating renewed market confidence towards the asset. However, the surge comes amid a broader market recovery, with the global crypto market cap soaring nearly 2% to $2.66 trillion. Amid this, top experts have highlighted key price levels for Ripple’s native asset, hinting at a recovery to above $3 in the near term.
XRP price today was up over 4.5% and exchanged hands at $2.199, while its one-day trading volume fell 31% to $6.59 billion. Notably, the crypto has touched a 24-hour high and low of $2.24 and $2.06. Notably, the crypto’s RSI stood at 44, indicating a shifting momentum in the market. Simultaneously, the asset’s Futures Open Interest rose 2.5%, reflecting the renewed market interest, CoinGlass data showed.
Amid this, renowned analyst Patric Bet-David recently hinted towards a potential XRP rally to $1000, which has fueled market optimism. Besides, the renowned market experts also remained bullish on the future trajectory of the crypto, indicating a strong recovery ahead.
Renowned expert Rose Premium Signals has predicted a significant rally for XRP price, citing a descending channel pattern on the daily timeframe. According to the expert, this pattern suggests accumulation before the next leg up, indicating a potential surge in the asset’s value.
The expert predicts that a bounce from the current support level of $2.12 could drive the price towards key targets at $2.32, $2.61, $2.90, and ultimately $3.35. This would represent a significant increase from the current price level. Having said that, traders are keeping close track of Ripple’s native asset’s performance, as a breakout from the descending channel pattern could trigger a substantial rally.
As the XRP price recorded a surge, other experts also weighed in. Expert EGRAG CRYPTO has reiterated his stance on Ripple’s native asset, hinting towards a potential 700% XRP rally if it repeats its previous performance.
Simultaneously, CasiTrades noted that XRP has found its support at $1.9. As long as the crypto holds above the level, it could continue its run towards the north. Besides, the expert has highlighted the $2.25 and $2.7 as the next resistance levels, breaking which could push the price further high.
This optimism was further buoyed by the latest XRP ETF filing by Franklin Templeton with the US SEC. This has injected a fresh wave of optimism among traders, who are eying further rally for the asset. Highlighting the development, analyst Dark Defender noted “Double digits for XRP will be as easy as a pie.”
The post XRP Price May Hit $3.3 If It Holds This Support, Analyst Predicts appeared first on CoinGape.
The post President Donald Trump Discredits Inflation Fears: Is Crypto Market Ready for Rebound? appeared first on Coinpedia Fintech News
President Donald Trump has discredited the inflation fears caused by Thursday’s hotter-than-expected Producer Price Index (PPI). Trump told reporters on Thursday that inflation is down to a ‘perfect number’ thus rejuvenating hopes for a Fed rate cut in September.
“Hardly any inflation at all. 401(k) s and the stock are soaring,” President Trump noted.
Notably, Thursday’s PPI data hinted at a possible increase in next month’s Consumer Price Index (CPI). As a result, fears of the Fed holding its benchmark rate at 4.5% surged, thus causing heavy liquidation of long traders.
According to aggregate market data from CoinGlass, more than $1 billion was liquidated from the crypto leveraged market. The long trader accounted for the majority with over $827 million rekt on Thursday.
Nonetheless, odds for a 25 bps rate cut in September, as shown by Kalshi data, surged to 81%. Most importantly, despite the inflationary fears, Kalshi data shows traders now see a higher chance for a 50 bps rate cut, at 11 percent, compared to a no rate cut at 10 percent for the first time.
The cryptocurrency bull market recently signaled the entrance to its euphoric phase, especially after the Ethereum (ETH) and Bitcoin (BTC) price rebound. The macro bullish sentiment is bolstered by the rising demand from institutional investors implementing crypto treasury strategies.
Additionally, President Trump recently signed an executive order to allow 401(k)s, which have over $8 trillion in assets under management, to diversify into the cryptocurrency market.
The post President Donald Trump Discredits Inflation Fears: Is Crypto Market Ready for Rebound? appeared first on Coinpedia Fintech News
President Donald Trump has discredited the inflation fears caused by Thursday’s hotter-than-expected Producer Price Index (PPI). Trump told reporters on Thursday that inflation is down to a ‘perfect number’ thus rejuvenating hopes for a Fed rate cut in September. “Hardly any inflation at all. 401(k) s and the stock are soaring,” President Trump noted. Crypto …