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💥 Here is How Much XRP You Need to Make $1M if XRP Hits $150, $258, $305 and $403
Individuals looking to make $1 million from XRP via ambitious price points in the triple-digit range require a modest initial investment.
XRP has recently renewed optimism among community members and steadfast holders that their millionaire dreams are still on course. Last week, XRP recaptured a three-month high of $0.6366, even momentarily emerging as the best performer among prominent crypto assets.
Notably, XRP regained $0.6366 in under two weeks after revisiting a 16-month low of $0.385, marking a growth of over 65%. This impressive growth has convinced XRP bulls that they are not missing the 2024/2025 bull season.
With widespread projections suggesting XRP’s likelihood for more than double-digit values, this article explores the number of tokens an investor must hold to attain a millionaire should XRP attain audacious prices of $150, $258, $305, and $403.
🔸 XRP Needed to Make $1M if XRP Hits $150, $258, $305 and $403
To make $1 million via XRP in the hypothetical scenario where its market value attains $150, one must have 6,667 tokens in his portfolio. With XRP trading at $0.5899 at press time, following a brief retracement, acquiring the portfolio costs $3,932.66.
Put differently, an investor stands to see their investments explode by over 253-fold should XRP attain $150.
Meanwhile, investors targeting to make $1 million from XRP at a price point of $258 require a significantly lower initial investment. Specifically, one needs to hold only 3,875 XRP, which costs $2,286 today, to generate a million at the $258 price.
Similarly, a crypto investor must purchase 3,279 XRP valued at $1,934 today to make $1 million when XRP attains $305. The $403 XRP price point demands the least initial capital commitment.
To make a million dollars at $403, one must purchase and hold only 2,481 XRP, which costs $1,463 today. Meanwhile, this investment would expand by 68,216% should the ambitious $403 price materialize.
📊 Donald Trump Is Considering Three Pro-crypto Candidates to Replace Gary Gensler
Donald Trump and his transition team have started exploring pro-crypto candidates for key financial regulatory roles who favor a less restrictive stance on digital assets.
Candidates under consideration include Hester Peirce, Mark Uyeda, and Paul Atkins as possible replacements for SEC Chairman Gary Gensler.
The SEC Will Look Different Under the New Trump Administration
According to The Washington Post, Trump’s team is reviewing a mix of current regulators, former officials, and financial industry leaders, many of whom have voiced strong support for cryptocurrency.
These appointments hold significant influence. The next chair of the SEC and other regulatory agencies will shape the future role of crypto within the US financial system.
Former SEC Commissioner Daniel Gallagher has previously criticized the agency’s stringent stance on crypto. He’s also a current board member of Robinhood.
Peirce and Uyeda have also voiced their disapproval of the SEC’s policies under President Biden. Peirce is seen as a potential interim SEC chair, with the possibility of heading a federal task force on crypto regulation.
Trump’s team is also considering Paul Atkins, a former SEC commissioner who advised during Trump’s previous transition, and Chris Giancarlo, former head of the Commodity Futures Trading Commission (CFTC). Both are known for their crypto-friendly positions.
“New regulatory regime will make it much easier for tokens to capture value from their protocols. Banks will be able to interact with the crypto industry where they couldn’t previously – institutional custody rules might significantly simplify,” popular crypto researcher Aylo wrote in an X (formerly Twitter) post.
Under Gensler, the SEC has pursued high-profile cases against Binance, Coinbase, and Ripple, alleging violations of securities laws. These companies deny the charges, which include operating without proper registration and fraudulent practices.
⭐️ Pump Fun Sells 43,000 SOL As Solana Price Touches $220
Meme coin launchpad Pump Fun has sold another 43,000 SOL as the Solana price rallied to $220, it's highest level this year.
Meme coin launchpad Pump Fun has offloaded more of its SOL holdings following the recent Solana price rally to $220. This comes amid predictions that Solana could soon reach its current all-time high (ATH) and possibly surpass it soon enough.
🔸 Pump Fun Sells 43,000 SOL As Solana Price Surges
In an X post, the on-chain analytics platform Lookonchain revealed that Pump Fun has sold 43,000 SOL ($9.46 million. The meme coin launchpad has sold 793,243 SOL ($132.5 million) out of its total revenue of almost 1.2 million SOL ($263 million). Solscan data shows that the Pump Fun fee account still holds 220,865 SOL ($48.4 million).
This development came as the Solana price hit $220, which marked a yearly high for the crypto. SOL’s outlook is currently bullish, with the Bitcoin price rallying and bullish sentiment in the broader crypto market.
The Solana price is also bullish, given the liquidity flowing into the SOL ecosystem. Debridge data showed that over $160 million has been bridged into the Solana ecosystem in the last seven days.
The meme coin frenzy on the Solana network has partly contributed to these inflows as market participants look to trade meme coins on the network. This frenzy was over the roof today, as Solana meme coins ACT and PNUT rallied 1,300% and 250%, respectively, following Binance’s spot listing.
🔸 SOL To Reach All-Time High Soon
In an X post, Crypto analyst Altcoin Sherpa said that the Solana price will soon reach its current ATH of $260. He made this prediction while remarking that market participants should not fade the “biggest casino this cycle” in allusion to the meme coin frenzy on the Solana network.
The analyst’s accompanying chart showed that the Solana price could quickly run to $290 as soon as it breaches its ATH at $260. According to a CoinGape market analysis,
🚀 Bitcoin (#BTC ) Nears $2T Market Cap After a New ATH of $89,000
In the early hours of today, Bitcoin(BTC), briefly crossed the new all-time high of $89,467, and is now inching closer towards a market cap of $2 Trillion soon.
At the time of writing, BTC is hovering around $88,703.95, after a surge of 10.10% in the past day. The consistent pumping has propelled BTC to a market cap of $1.75 Trillion. The 24 hour market volume jumped 41.65% to $116.47 Billion.
Technically speaking, Oscillators indicate a ‘Buy’ Action, meanwhile Moving Averages are hinting to ‘Strong Buy’ Action. Market analysts marked the $82,000 to $85,000 as a psychological resistance range, but Bitcoin has gone well-past against this range.
The rally was triggered by the victory of Donald Trump over his US Presidential rival, Kamala Harris on 6th November, and since then the crypto industry, on the whole, has seen a positive market trend.
According to CoinShares latest Digital Asset Fund Flows report, the inflows associated with the crypto market rally have shot the total assets under management of crypto investment products to a $116 billion high.
The report also revealed that Bitcoin-focused investment products saw $1.79 billion of inflows over the past week, while Ethereum-focused products saw $157 million of inflows.
It is worth mentioning that the global cryptocurrency market cap today is $3.12 Trillion, which is a 6.8% uptick in the last 24 hours. Moreover, the total cryptocurrency trading volume in the last day is at $356 Billion. BTC dominance is at 56.3% and Ethereum dominance is at 13%. The ‘spill-over effect’ of Bitcoin surge underlines Ethereum’s surge of 5.75% to the current trading price of $3,367.27.
Apart from this, Solana too, grew by 4.94% to the trading price of $221.01. In fact, SOL has crossed the $100 Billion market cap figure. Digital Asset Fund Flows report also shed light on Solana-focused products witnessing an inflow of $3.9 million of inflows.
Cardano price surged 76% last week, fueled by bullish sentiment after Trump's election win. Analysts predict a breakout to $0.8.
Yesterday, Cardano price recorded its most bullish week since March 2022, surging by 76%. The rally was likely fueled by market optimism following Donald Trump’s victory in the 2024 presidential election. Amid this positive sentiment, crypto analysts predicted a “programmed” breakout, suggesting ADA’s November rally may continue.
With the crypto market today, the ADA price trades at $0.59 with an intraday loss of 0.08%. According to Coingecko, the asset market cap holds at $20.7 Billion, and the 24-hour trading volume is at $4.96 Billion.
🔸 Cardano Price Programmed for November Surge? Analyst Aims $8
In a recent tweet, crypto enthusiast Polkadot leader shares Cardano price analysis, highlighting a key breakout from the triangle pattern. Over the past six months, the ADA price has resonated strictly within two converging trendlines amid the broader market consolidation.
Theoretically, this sideways could allow market traders to replenish the prevailing momentum before the next leap. On November 7th, the ADA price gave a decisive breakout from the pattern’s resistance trendine. The broader market sentiment supports the bullish narrative amid the U.S. presidential election and Bitcoin’s potential to a new high. Crypto analysts predict the post-breakout could drive the asset to the triangle’s high of $0.8, registering a potential growth of 36%.
🔸 ADA Whale Accumulation and MVRV Data Hint at Major Reversal
Despite the prolonged consolidation trend, the Cardano large holders have shown an active accumulation trend since mid-April 2024. According to Santiment data, the whale wallets, with 100 Million to 1 Billion, have raised their holding from 2.06B to 3B ADA, accounting for 45% growth.
Historically, these accumulation trends by large holders have led to a major market bottom and sustained recovery.
📊 Solana Hits Record $4.28B Open Interest – SOL Breaks 8-Month Price Barrier
Solana (#SOL ), currently trading as the fourth-largest cryptocurrency, has reached a new milestone, with Open Interest hitting $4.28 billion. At the same time, Solana’s price has experienced strong upward momentum to reach an eight-month high.
🔸 Solana’s Soaring Price Momentum
Solana’s recent movement follows Bitcoin’s rise to a new All-Time High (ATH) of $81,858. As of this writing, SOL was trading at $210.77, up 2.64% in the last 24 hours, per MarketCap data. On the weekly chart, SOL rose by 28.6% and 42.3% in the past month, demonstrating resilience in the crypto market.
The recent market condition shows that bears gradually lose their foothold while the buyers take charge. This condition is further evidenced by a surge in Solana’s futures Open Interest (OI). CoinGlass data shows Solana’s OI has attained a new ATH of $4.28 billion, marking a 42.19% increase over the past week.
A surge in Open Interest usually indicates growing confidence among traders and investors as more contracts are opened. This momentum is essential for attracting more investors and raising prices even further. Additionally, more investors are taking long positions, indicating investor confidence in Solana.
This suggests that the majority of investors believe the price will climb higher. Also, the dYdX exchange Funding Rate is positive, supporting the demand for long positions. This shows that long-term investors are willing to pay shorts a fee to keep their positions during a market slump.
This pattern can be observed in the larger liquidations for short position holders relative to longs. This implies traders are willing to hold on to their future bets while shorts are forced to liquidate.
🔸 Impact of Rising OI on SOL’s Price
The surge in Open Interest could fuel higher prices for SOL due to increased user accumulation. This has been the case with Solana in the past few weeks, as prices have surged relative to the altcoin’s Open Interest.
⚡️ Analyst Predicts 3 XRP Price Targets if Bitcoin Hits $100K, $130K, and $160K
Seasoned crypto commentator EGRAG projects that XRP could surge to unprecedented levels if Bitcoin rallies to specific targets like $100,000, $130,000, and $160,000, respectively.
🔸 EGRAG’s XRP/BTC Analysis
The widely followed analyst recently took X to analyze XRP’s price action against Bitcoin, XRP/BTC. According to EGRAG, the XRP/BTC tested a crucial support zone labeled “YOLO” (You Only Live Once).
In the October 21 tweet, EGRAG emphasized that the XRP/BTC pair attempted to close above the 0.000010 level but failed due to heavy sell pressure.
This brought the pair to the ‘YOLO’ support level, highlighted in yellow in the chart. Citing historical trends, EGRAG suggested that the XRP/BTC pair requires an impulsive ‘megathrust surge’ to break above the 0.00001 territory.
XRP/BTC pair sits at 0.000007360, reflecting a decline of 0.4% in the past 24 hours. This indicates that the pair must surge by 35.86% to hit the 0.00001 range.
Here’s XRP Price if BTC Surges to $70K, $100K, $130K, $160K, and $200K
In the meantime, the expert highlighted 0.00017 as a crucial level in the XRP/BTC pair that could introduce a massive surge for XRP. At this level, EGRAG suggested that Bitcoin’s future price movements will determine XRP’s value against the USD.
Per EGRAG, if the XRP/BTC pair surges to 0.00017 and Bitcoin trades at $70,000, XRP’s price would spike to $12. This represents an increase of 2,243% from the current price of $0.5120.
In addition, EGRAG forecasted that Bitcoin’s climb to $100,000 would potentially take XRP to $17 so long as the XRP/BTC pair remains at 0.00017. XRP’s potential surge to $17 marks an increase of 3,220% from the current price.
Furthermore, the expert projected that if XRP/BTC holds at 0.00017 and Bitcoin hits the $130,000 target, as predicted by leading asset manager VanEck, XRP would be priced at $22, reflecting an increase of 4,196%.
The biggest Bitcoin whale Michael Saylor buys 27,200 BTC for about $2.03 billion. MicroStrategy bought Bitcoin between October 31 and November 10 at an average price of $74,463 per BTC.
🟠 MicroStrategy now owns 279,420 BTC, which is almost $23 billion.
⭐️ Donald Trump's Bitcoin Strategy Advisor Makes Remarkable Claim: 'This Is Why Bitcoin Is Rising!'
The price of Bitcoin has risen by 20% to surpass $80,000 per Bitcoin, boosted by speculation that a nation-state may be quietly accumulating Bitcoin, as well as rising expectations for US President-elect Donald Trump’s pro-Bitcoin policies.
Bitcoin Surpasses $80,000 Amid Rumors of Secretive Nation-State Adoption and US Strategic Reserve Plans
Rumors are circulating that an unnamed country has been quietly purchasing Bitcoin, possibly making it one of the five largest national holders of the digital asset.
💬 David Bailey, CEO of Bitcoin Inc., publisher of Bitcoin Magazine, and a Bitcoin strategy advisor to the Trump campaign, hinted at the speculation by posting on social media that “there is at least one nation-state actively purchasing Bitcoin.”
Bailey also noted that the country could soon make a public statement about its Bitcoin holdings.
The largest national Bitcoin holders currently include the United States and China, each holding close to 200,000 BTC, largely through confiscated assets.
Other countries with significant assets include the UK, Ukraine, Bhutan and El Salvador. Ukraine’s Bitcoin was largely obtained through donations after Russia’s 2022 invasion, while Bhutan is experimenting with Bitcoin mining and El Salvador accepted Bitcoin as legal tender in 2021.
US President-elect Donald Trump has previously pledged to make the US a global leader in crypto and proposed the creation of a Bitcoin strategic reserve.
Earlier this year, U.S. Senator Cynthia Lummis introduced a bill called the Bitcoin Act, which proposes purchasing up to 1 million BTC over five years to help manage the national debt. These developments have raised high expectations among Bitcoin investors and enthusiasts.
🚀 3 Altcoins to Watch in the Second Week of November 2024
November started off very well, with many cryptocurrencies, including Bitcoin, forming new all-time highs. Amidst the chaos, however, some altcoins are getting sidelined and hold the potential to note gains.
Aptos is benefiting from a strong bullish week, with its price climbing 35% to reach $10.72. The altcoin now aims to secure the 61.8% Fibonacci Retracement level at $11.64 as support, which could reinforce its upward momentum and attract further investor interest.
Today, Aptos unlocked 11.31 million APT tokens valued at $121 million, yet this did not trigger a significant price decline. This resilience suggests solid investor confidence in Aptos, potentially fueling continued gains as the altcoin demonstrates strength amid increased circulating supply.
dYdX price surged by 38% this week, though it remains within a consolidation range established in August, holding the altcoin under $1.33. Investors are closely monitoring for signs of a breakout, as sustained gains are necessary to confirm a stronger upward trend.
The recent approval of a proposal by the dYdX community treasury established the dYdX Treasury SubDAO. This was followed by a vote to transfer 45,000,000 DYDX to support a new staking program. These actions reflect growing momentum in governance, setting the stage for possible future growth in the asset.
FET’s price has surged by 28.5% this week, bringing the altcoin back above the critical support level of $1.40. The next resistance is at $1.71, which, if surpassed, could propel FET toward the $2.00 mark, signaling strong bullish momentum.
This week is pivotal for FET, as the Superintelligence Summit on Monday will spotlight leading AI-powered crypto projects, including the Artificial Superintelligence Alliance. Such events often attract investor interest, and FET could benefit from heightened attention on AI-driven blockchain technologies.
💥 Cardano Hits 7-Month High as Founder Eyes Hopeful Role in Shaping Trump Crypto Policy
On Sunday, Cardano (ADA), the native governance token of the proof-of-stake layer-1 network of the same name, lept to its highest points since April after its founder said he would play a role in shaping crypto policy in the U.S. next year.
It follows Cardano founder Charles Hoskinson’s declaration he would aim to position himself as a prominent voice in President-elect Donald Trump’s ear when he takes power on January 20.
“A large part of my time in 2025 will also be devoted to the political process,” Hoskinson said Saturday in a video statement posted by Cardano-based wallet, NFT, and token tracking platform TapTools.
He continued: “I’m going to be spending quite a bit of time working with lawmakers in Washington, D.C., and quite a bit of time working with members of the [Trump] administration to help foster and facilitate, with other key leaders in [the] industry, crypto policy.”
To be clear, Hoskinson has not been tapped by Trump's inner circle to head up a position on crypto. However, the former president has promised to listen to those from within the industry to shape future regulations affecting it.
As a prominent figure in the crypto and blockchain space, Hoskinson is known primarily as a co-founder of Ethereum and the founder of Cardano, a blockchain platform developed by his company, Input Output Global (IOG), formerly known as IOHK.
He once played a role in Ethereum’s early development alongside co-founder Vitalik Buterin but left due to differing visions for the project. Hoskinson advocated for a more corporate approach with venture capital funding, while the Ethereum team wanted to push for a non-profit, decentralized model.
📈 Solana Price Hits 3-Year High - Up 2,500% Since Post - FTX Low
Solana has continued rising following last week's U.S. election, reaching a price point not seen since SOL's original 2021 surge—and marking a nearly 2,500% rise since the coin tumbled to a grim low in 2022 after crypto exchange FTX collapsed.
SOL popped as high as $214 early Sunday, though it has dipped since to a current price of about $210. Even so, Solana is up 5% on the day and 29% over the last seven days, pushing its 30-day rise to 44% as of this writing.
The last time Solana was $214 was way back in early December 2021, nearly three years ago, when it was gradually trickling down after setting an all-time high of about $260 the previous month.
Solana fell fast in early 2022, and then again in late spring as a bear market started to take hold of the broader crypto industry. Adding insult to injury was November 2022's collapse of crypto exchange FTX, which impacted Solana more than any other major coin due to close associations with the firm and its founder, Sam Bankman-Fried.
Just before the end of 2022, SOL fell as low as $8.30, according to data from CoinGecko. The plunge was framed as an existential crisis by some builders in the space. But SOL regained a bit of ground early in the year, and then finally started climbing in the last quarter of the year, touching $100 by the end of 2023.
Nearly every major cryptocurrency is up since last Tuesday, when pro-crypto candidate Donald Trump secured a second term in the White House. Bitcoin surged to a fresh all-time high price that night, and has continued to gain, just setting another peak above the $81,000 mark on Sunday afternoon.
To some extent, #Solana is riding the same wave as other coins. But it's outpaced Bitcoin and many other coins this week, in part due to apparent optimism that a Trump administration—including a likely new Securities and Exchange Commission (SEC) head—will result in spot Solana ETF approvals, as well as put to bed the regulator's allegations that SOL is an unregistered security.
🔥 Historical Data Hints XRP May Soar 700% to 60,000% Following U.S. Presidential Elections
XRP price movements have continued to follow a pattern of repetitive symmetrical triangle breakouts after the U.S. presidential elections.
Market analyst Mikkybull recently shared an XRP chart showcasing this correlation following Donald Trump’s win in the just-concluded election. Notably, XRP has revealed a historical tendency to experience massive upsurges following the elections.
The chart confirms that XRP forms a symmetrical triangle before each U.S. election and subsequently breaks out with notable price hikes after the election. This pattern played out in 2016 and 2020.
Specifically, following the 2016 election on Nov. 8, XRP’s price initially dipped for about four months. However, by March 2017, XRP experienced an explosive breakout, propelling its price by an astonishing 60,000% to reach its all-time high (ATH) of $3.31.
Similarly, in 2020, the Nov. 3 election sparked a massive XRP rally. The price spiked 177% in the same month before succumbing to a sharp correction in December.
Analysts attribute this downturn to the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple, which prompted a steep 66.97% decline in December 2020. Despite this setback, XRP rebounded to hit $1.96, registering a rally exceeding 700%.
🔸 XRP Eyes a Repetition
The 2024 presidential election concluded on Nov. 5. With pro-crypto candidate Donald Trump emerging victorious, market sentiment has shifted in favor of crypto assets. Some pundits, like BitBoy, already believe XRP could benefit from the forthcoming administration.
Following the latest election, Mikkybull expects the historical pattern to unfold, suggesting that XRP is on the brink of another breakout. This view is bolstered by the altcoin’s recent 22.46% gain in November.
Despite the slower-than-expected uptrend, the long-term pattern bolsters the possibility of a massive upward movement, possibly repeating its historical post-election trends.
⚡️ Here’s Why Cardano Price Is Far From Overbought After 96% Weekly Surge
Cardano price surges 96% weekly amid U.S. election buzz, key partnerships, and whale accumulation, signaling room for growth.
Most major altcoins witnessed a renewed recovery trend in November amid the U.S. election buzz and Donald Trump’s victory. The pioneer cryptocurrency, Bitcoin, entering price discovery further cemented the bullish narrative in the broader market. Among the top performers, the Cardano price recorded an 83% weekly surge, and still enough room for future growth.
By press time, the ADA price had traded at $0.58, with an intraday gain of 28.5%. According to Coingecko, the asset’s market cap was boosted to $20.58 billion, while 24-hour trading volume was at $2.53 billion.
In the last six days, the layer-1 cryptocurrency Cardano recorded an upright recovery from $0.326 to $0.58— an 83% price increase. An analysis of the daily chart showed this recovery with the increasing size of green candles and trading volume, indicating a sustained uptrend.
The strong momentum may be attributed to several factors, with the first being the potential impact of the 2024 U.S. election and Donald Trump becoming the 47th president. Additionally, Cardano’s recent partnership with BitcoinOS has enabled it to access $1.3 trillion in Bitcoin liquidity, significantly enhancing its decentralized finance (DeFi) ecosystem.
As per tradingview chart, the ADA price also breaches a key downsloping resistance of a triangle pattern. This breakout signals the buyers’ escape from a six-month consolidation, offering suitable support to drive a higher rally.
However, today’s surge in Cardano price is likely triggered by founder Charles Hoskinson’s plans to work with the U.S. government under Donald Trump on cryptocurrency legislation.
The aforementioned reasons provide a major boost for Cardano’s adoption and demand for its native cryptocurrency, positioning for further gains.
📊 Tellor Price Tumbles As Whales Offload On Exchanges
Recently, Tellor has experienced some significant price action after 2 whales moved 226,741 Tellor tokens to the OKX exchange. The token nears a breakout.
With this move accounting for 8.42% of TRB’s total supply, the market is closely watching. Recent price gyrations in the Tellor token market have raised concerns over potential price volatility.
The fluctuations have led to substantial Tellor token market movements, which happened over the past 12 hours. Two major investors, or whales, suddenly transferred in a combined 226,741 TRB tokens.
The tokens were worth roughly $12.18 million, to the OKX exchange. With a total of 8.42% of TRB’s total supply in this deposit, this is a considerable percentage of the market that may influence trade dynamics.
Large deposits into exchanges are often a signal that a holder is preparing to sell the token. That caused the token price to drop.
The signs of this impact are already reflected in Tellor’s recent price chart, with a slight dip shown. Tellor is currently priced at $53.78, down 2.1% from the past period.
Compared to other major cryptocurrencies, the token is down 1.9% in Bitcoin terms. It’s now worth 0.0007032 BTC per TRB.
It has seen a steeper decline against Ethereum, falling 5.0% to 0.01779 ETH. Tellor’s 24-hour trading range shows a low of $51.80 and a high of $56.02. This suggests some moving about but staying consistent within this range.
🔸 Tellor Market Outlook: Price Patterns Indicate a Breakout Soon
At the time of writing, Tellor’s price is within the confines of a descending wedge pattern. This pattern usually points to the potential for a breakout. The direction is just isn’t known.
The key support level is at $51.00. A break below that level might mean a possible downside target. It falls in line with a drop of 19.87% to $41.
If bullish momentum carries on, there’s a good chance Tellor will move up to the $65.00 resistance with a continuation target of $100.00. The target represents a 53.18% gain.
📈 The Historic Moment Has Arrived: Bitcoin Price Exceeds $80,000 – Here’s the Latest Information and Expectations
Bitcoin (BTC) surpassed $80,000 today, bringing its cumulative weekly gain to 16% and reaching its highest level since February.
The rise comes after Donald Trump won the US presidential election on Thursday, prompting optimism for regulatory clarity in the digital asset space.
According to Velo data, the annualized rolling premium on three-month bitcoin futures on major exchanges like Binance and Deribit jumped as BTC surged, rising above 14% for the first time since June. On CME, the futures premium surpassed 10% on Friday. The increase in premium suggests bullishness among investors, potentially attracting carry traders looking to take advantage of price differences between the markets.
Options markets have also been on the rise, with open interest in an $80,000 BTC call option on Deribit, a bet that would send prices above $80,000, reaching over $1.6 billion. Traders have begun targeting that level even before the election, expecting BTC to break new highs before the end of the year.
Amberdata shows that the $80,000 strike price has the highest negative gamma intensity, increasing the likelihood of sharp price swings if BTC remains above this level. A negative gamma position means a net short position at $80,000 for market makers, which could prompt these liquidity providers to purchase additional BTC if the price rises, thus fueling further bullish volatility in the market.
⭐️ Bitcoin ETFs Hit Record $1.38B, Ethereum ETFs See $78M Boost
Post-election, Bitcoin (BTC) exchange-traded funds (ETFs) saw a significant surge in net inflows, reaching a record $1.38 billion. This boost in investment follows strong market sentiment after the election results, as reported by Satoshi Club. Ethereum (ETH) ETFs were also up, with $78 million in new money.
GM 🫡 Post-election #BTC ETFs hit a record $1.38B in net inflows, while #ETH ETFs saw $78M in fresh investments. 📈 Top gainers (TOP 100): $CRO +22% $ADA +16% $NEIRO $GOAT +12% Market sentiment stays strong! — Satoshi Club
🔸 CRO Leads with 22% Growth as Altcoin Market Gains Momentum Following Bitcoin ATH
The increase in the flows into both BTC and ETH ETFs is a sign that more investors are willing to invest in cryptocurrencies. The increase is observed as the market sentiment around the future of digital assets improves despite the continuously emerging regulatory issues.
However, several other altcoins have also posted good gains. For the week, the $CRO was the best performer in the top 100, rising by 22%. Cardano (ADA) came in second place with an increase of 16% and contributed to even more growth within the altcoin market. Other major risers were NEIRO and GOAT, which both rose by 12%.
🔸 Crypto Market Shows Strong Recovery Post-Election with Record Bitcoin ETF Inflows
The general market trend remains high for digital assets, and investors continue to invest in this market. This positive carry suggests that the crypto market is in its recovery mode at the moment after the election.
Investors are piling into Bitcoin ETFs to record levels, Ethereum is fresh capital, being positive in the short term according to data from Satoshi Club. The increase of the altcoins also proves that the market sentiment is still favorable.
BONK’s price has surged by 24% as indicated on its weekly chart. This recent upward movement brings the memecoin above the 20-day SMA pointing to a possible short-term bullish trend.
Market analysts are keen on BONK as it nears crucial resistance at the upper Bollinger Band with expectations of a run to the upside if the price breaches with levels.
🔸 Price Action and Trend Analysis
BONK’s price has bounced back from a low of $0.00001766 near the lower Bollinger Band. This upward breakout has taken the price above the 20-day SMA currently located at $0.00002117.
However, the uptrend regained momentum after a green candle started to form suggesting a bullish reversal in the market after a continuous downtrend. BONK is now approaching the Upper Bollinger Band at $0.00002468 to retest the resistance level.
🔸 Key Resistance and Support Levels
The upper Bollinger Band at $0.00002468 is now acting as the immediate resistance level for BONK.
arket experts suggest that if the current price is able to break above this level, BONK price could soar to previous highs thus attracting more buyers.
Should this resistance hold, the price may enter a consolidation period as traders wait on more signals regarding its movement.
On the downside, the support is at the 20-day SMA currently at $0.00002117, a level that could trigger buying pressure if the price pulls back.
The next key support level is near $0.00001766 in case of increased selling pressure. This structure suggests that there is room for BONK to make bullish moves.
🔸 BONK RSI and Potential for Further Gains
As for the Relative Strength Index (RSI) indicator, a moderately bullish signal is seen. The RSI is currently at 55.54. A move about the 50 mark implies that buying pressure is exceeding the selling pressure and there is enough room for further gains before it reaches the overbought zone.