68 days ago

Ethereum Price Gains Bullish Momentum: Is a Breakout Near?

Ethereum price started a steady increase above the $2,450 resistance. ETH is holding gains and might gain bullish momentum above $2,520. Ethereum started a steady increase above the $2,420 and $2,450 resistance levels. The price is trading above $2,440 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $2,455 on the hourly chart of ETH/USD (data feed via Kraken). The pair must gain bullish momentum above the $2,520 and $2,550 resistance levels. Ethereum Price Regains Traction Ethereum price formed a base above the $2,350 level and started a fresh increase. ETH cleared the $2,420 and $2,450 resistance levels to move into a positive zone, beating Bitcoin. The bulls even pushed the price above the $2,500 level. A high was formed at $2,518 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the upward move from the $2,436 swing low to the $2,518 high. Ethereum price is now trading above $2,450 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $2,455 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,520 level. The first major resistance is near the $2,550 level. A clear move above the $2,550 resistance might send the price toward the $2,580 resistance. An upside break above the $2,580 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,620 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,720. Another Pullback In ETH? If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,455 zone and the trend line or the 76.4% Fib retracement level of the upward move from the $2,436 swing low to the $2,518 high. A clear move below the $2,435 support might push the price toward $2,420. Any more losses might send the price toward the $2,350 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,455 Major Resistance Level – $2,520

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U.S. Spot Bitcoin ETFs See $277.08M in Outflows Amid Market Uncertainty

U.S. spot Bitcoin exchange-traded funds (ETFs) faced significant outflows on December 20, 2024, with a combined net outflow of $277.08 million, according to data shared by Trader T on X (formerly Twitter). This marks the second consecutive day of declines for Bitcoin ETFs, reflecting potential concerns about market sentiment or profit-taking among investors. The majority of outflows were attributed to prominent funds, including ARK Invest’s ARKB, BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC. While most ETFs faced net losses, Grayscale Mini BTC and Franklin’s EZBC bucked the trend with modest inflows. Breakdown of ETF Outflows Major ETFs Affected ARK Invest’s ARKB : $87.01 million in net outflows, representing the largest single loss. BlackRock’s IBIT : $72.84 million in outflows, a significant figure for the world’s largest asset manager. Fidelity’s FBTC: $71.89 million in outflows, continuing a challenging period for Bitcoin ETFs. Grayscale’s GBTC : $57.36 million in outflows, despite being one of the earliest Bitcoin-focused funds. ETFs with Net Inflows Grayscale Mini BTC (MBTC): Recorded $6.41 million in inflows, suggesting investor interest in smaller-cap ETFs. Franklin’s EZBC: Gained $5.61 million, likely benefiting from diversification strategies. Market Context: Why the Outflows? The significant outflows could be driven by several factors: 1. Profit-Taking by Investors With Bitcoin’s price stabilizing above $100,000 in recent months, investors may be locking in profits, leading to reduced exposure in ETFs. 2. Year-End Portfolio Adjustments The December timing aligns with traditional portfolio rebalancing by institutional investors, who may be reallocating funds to meet year-end financial goals. 3. Macro and Regulatory Concerns Ongoing regulatory developments and global economic uncertainty could be influencing risk-averse behavior, particularly in volatile assets like Bitcoin. Impact on Bitcoin Market Sentiment The ETF outflows highlight shifting market dynamics: Short-Term Concerns Price Volatility: Declining interest in ETFs could contribute to short-term price fluctuations for Bitcoin. Weakened Sentiment: Consecutive days of outflows suggest cautious investor behavior. Long-Term Outlook Despite the outflows, the broader demand for Bitcoin remains robust, with institutional interest still driving adoption in key markets. Spot Bitcoin ETFs: A Snapshot What Are Spot Bitcoin ETFs? Spot Bitcoin ETFs allow investors to gain exposure to Bitcoin’s price movements without directly holding the asset. Unlike futures-based ETFs, spot ETFs track the actual Bitcoin price, making them a preferred option for many institutional and retail investors. Importance in the Market Accessibility: Provides a gateway for traditional investors to access Bitcoin. Liquidity: Increases market liquidity by aggregating institutional investments. Regulatory Milestones: Spot ETFs represent significant progress in the mainstream acceptance of cryptocurrencies. Comparison: ETFs with Inflows vs. Outflows ETF Name Net Flow ($M) Trend ARK Invest (ARKB) -87.01 Outflow BlackRock (IBIT) -72.84 Outflow Fidelity (FBTC) -71.89 Outflow Grayscale (GBTC) -57.36 Outflow Grayscale Mini BTC +6.41 Inflow Franklin EZBC +5.61 Inflow Implications for Investors What to Watch For Market Trends: Monitor whether outflows continue or reverse in the coming days, particularly as year-end approaches. ETF Performance: Pay attention to funds like Grayscale Mini BTC and Franklin EZBC, which may attract investors seeking alternatives. Bitcoin Price: Watch for potential impacts on Bitcoin’s price from sustained outflows, as ETF activity often reflects broader sentiment. Diversification is Key Investors should consider diversifying across different funds and asset classes to mitigate risks associated with short-term market shifts. Conclusion The $277.08 million outflows from U.S. spot Bitcoin ETFs on December 20 signal a period of cautious sentiment among investors. While major funds like ARK Invest, BlackRock, and Fidelity recorded significant losses, smaller funds like Grayscale Mini BTC and Franklin EZBC saw modest inflows, reflecting varying investor strategies. As the market adjusts to these dynamics, investors and analysts will closely monitor the broader implications for Bitcoin and ETF markets. Whether these outflows mark a temporary shift or a larger trend remains to be seen. To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries. NewsBTC

From $40K to $25M: How FARTCOIN Became Truth Terminal’s Largest Asset

The post From $40K to $25M: How FARTCOIN Became Truth Terminal’s Largest Asset appeared first on Coinpedia Fintech News Truth Terminal, an AI-powered chatbot platform, has turned heads in the crypto world with its massive gains from FARTCOIN. A modest $40,000 investment has skyrocketed by 62,400%, reaching an incredible value of $25 million. However, despite the extraordinary surge, FARTCOIN has faced a 16% dip in the past 24 hours, reminding traders of the crypto market’s volatility. FARTCOIN Became a Star According to Arkham Intelligence, a leading blockchain analytics firm, FARTCOIN is now Truth Terminal’s largest asset. The platform holds over $40 million in AI-related tokens, with most of it coming from FARTCOIN. Truth Terminal didn’t buy the token at market price; instead, it got it for just $40,000, making its profit even more remarkable. This massive growth highlights the power of AI-based trading platforms and the growing popularity of tokens like FARTCOIN. As more people adopt and use the token, its value continues to draw attention. However, FARTCOIN’s rapid rise got another push after being listed on Binance Futures. By offering USD-margined perpetual contracts with 75x leverage, Binance has sparked increased demand for the token, driving market activity around FARTCOIN and other Solana-based assets. FARTCOIN’s Robust Performance FARTCOIN has shown incredible growth over time. It rose by 150% last month and surged by 1,300% over the past quarter. With a current market cap of $888 million, the token remains a strong player in the crypto market. Despite its overall success, FARTCOIN’s price recently fell by 16% in the past 24 hours currently trading around $0.89 . Although some analysts believe FARTCOIN’s growth will continue, especially with support from platforms like Truth Terminal. NewsBTC