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Bitcoin currently appears to be taking a breather after achieving a new all-time high (ATH) above $109,000 earlier this week. So far, the asset has seen a slightly reduced upward momentum with the price just hovering above $104,000. However, despite the slowing upward momentum, Bitcoin’s recent performance has prompted renewed interest in the market. CryptoQuant analyst Burak Kesmeci has recently shared insights into Bitcoin’s price behavior and key market indicators, shedding light on potential future moves. In a recent post on the CryptoQuant QuickTake Platform, Kesmeci’s analysis focused on Binance Bitcoin Funding Rates, a metric that provides notable clues about market sentiment and dynamics. By reviewing historical data from previous bull cycles, he identified three distinct phases that can serve as a framework for interpreting the current market environment. Related Reading: Bitcoin Short-Term Holders Are Selling at a Loss: What This Means For BTC What’s Next For Bitcoin Based On Funding Rates? According to Kesmeci, during the 2020-2021 bull run, Binance Bitcoin Funding Rates moved through three distinct phases: Phase 1 (July 2020): Funding rates remained stable at 0.01 for weeks before demand surged. This phase acted as the “calm before the storm,” leading Bitcoin from $9,000 to $12,000 as funding rates rose to 0.10. Phase 2 (November 2020): After an initial rally, Bitcoin experienced a correction. Funding rates briefly turned negative before flipping positive, supporting Bitcoin’s climb from $12,000 to $19,000. Phase 3 (December 2020): As Bitcoin surpassed its previous highs and crossed the $60,000 mark, funding rates climbed significantly, reflecting strong market support. Currently, Kesmeci notes that Binance Bitcoin Funding Rates are at the baseline level of 0.01—consistent with the early stages of a bull cycle. The analyst wrote: Analyzing recent data, I believe we’ve completed the first two phases of this bull cycle. For the third phase, I’ll be closely watching if the Binance Bitcoin Funding Rates exceed 0.01. The analyst mentioned that a sustained rise above the 0.01 level would suggest heightened futures market activity and could lead to another significant upward move. However, Kesmeci also cautions that elevated funding rates are often unsustainable, and markets tend to correct through “long squeeze” events that restore balance. Key Metrics and Divergences in the Market In a separate analysis, another CryptoQuant analyst TraderOasis explored several critical metrics, including the Coinbase Premium Index, open interest, and funding rates. These indicators give a picture of Bitcoin’s market health and potential direction. TraderOasis highlighted a divergence between the Coinbase Premium Index and Bitcoin’s price movement. While the asset reached a new peak above $109,000, the Coinbase Premium Index formed a lower high. This lack of alignment raised concerns about the sustainability of the current price trend. Moreover, a divergence between open interest and price also suggested that the market might lack the robust foundation needed for continued upward momentum. According to TraderOasis, a healthy uptrend requires these metrics to be more closely aligned, which would signal strong investor confidence and a stable market structure. Looking at funding rates, TraderOasis observed a recent bearish sentiment among traders. However, he noted that such conditions often precede sharp price movements. The analysis suggested the possibility of an initial upward spike to shake out bearish positions, followed by a subsequent pullback. This pattern, if realized, could set the stage for a more sustainable long-term uptrend. Featured image created with DALL-E, Chart from TradingView
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JuCoin Launches $JU Token as the Foundation of Its Blockchain Ecosystem
SINGAPORE, Jan. 23, 2025 /PRNewswire/ – JuCoin, a leading name in blockchain innovation, has introduced its $JU token, the foundational element of its growing ecosystem. In a recent interview, Nicolas, Chief Operating Officer of JuCoin, outlined the strategic vision for $JU and its role in driving the platform’s development. Designed as a multi-utility token, $JU powers JuCoin’s operations across a range of functions, including governance, transaction fee discounts, staking, and rewarding community participation. Additionally, $JU acts as the native token of JuChain, JuCoin’s proprietary blockchain infrastructure aimed at advancing decentralized applications and projects within the ecosystem. $JU’s Role in JuCoin’s Ecosystem According to Nicolas, $JU offers “unparalleled versatility” by seamlessly integrating across all facets of the JuCoin ecosystem. The token not only supports token launches and transaction functionalities but also provides users access to high-quality ecosystem projects. Its dual role ensures relevance both as a utility token and as a pivotal element of JuChain’s decentralized framework. “Unlike tokens with a singular purpose, $JU bridges transactional utility, governance, and long-term value creation,” Nicolas stated. “This multifaceted design positions $JU to drive innovation while fostering community engagement.” Strategic Vision for 2025 As part of its 2025 roadmap, JuCoin aims to position itself as a global leader in crypto trading and blockchain development, with $JU as the ecosystem’s unifying force. Through the development of JuChain, JuCoin seeks to provide robust blockchain infrastructure to support decentralized applications, further expanding opportunities for users and developers alike. Key initiatives include: Integration with JuChain: $JU will serve as the gas token for the network, facilitating decentralized application support and infrastructure growth. Launchpad Utility: $JU will provide users with early access to token launches on JuCoin’s launchpad, enabling seamless participation in high-potential blockchain projects. Governance Mechanism: Holders of $JU will play an active role in the ecosystem’s governance, voting on key decisions that shape JuCoin’s future trajectory. Looking Ahead As JuCoin continues to expand, $JU is positioned to underpin the platform’s development and align stakeholders across its ecosystem. From fueling blockchain innovation to creating new opportunities for active participants, $JU aims to be the cornerstone of JuCoin’s efforts in 2025 and beyond. About JuCoin JuCoin is a blockchain-focused platform dedicated to driving innovation in cryptocurrency trading and decentralized technologies. With a mission to create a unified and accessible blockchain ecosystem, JuCoin offers a range of services, including a state-of-the-art crypto exchange, a token launchpad, and the proprietary JuChain blockchain infrastructure. By combining cutting-edge technology with a community-driven approach, JuCoin empowers users, developers, and enterprises to participate in a thriving decentralized economy. Through its $JU token, the platform bridges transactional utility, governance, and long-term value creation, positioning itself as a leader in the evolving blockchain space. For more information about $JU and JuCoin, visit the links below: Twitter: JuCoin Twitter Telegram: JuCoin Telegram Website: www.jucoin.com NewsBTC
Crypto Exchange Phemex Investigating Hack Reports as $29M Drained From Hot Wallets
Singapore-based cryptocurrency exchange Phemex has said that it is "looking into" reports of a hack after one of its hot wallets was drained for $29 million worth of crypto tokens. Crypto security firm Cyvers reported "multiple suspicious transactions" from the Phemex hot wallet across multiple blockchains. The funds were swapped for ether (ETH). "As we look into a report on one of our hot wallets rest assured our cold wallets remain safe and can be checked by everyone here, will post more updates shortly," Phemex CEO Federico Variola wrote on X . NewsBTC
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