Senator Elizabeth Warren has called for bold action from regulators, urging the acting head of the Office of the Comptroller of the Currency (OCC) to address Citibank’s persistent operational failures. Warren stated that Citibank may be “too-big-to-manage,” citing years of regulatory missteps and mishandled reforms, despite ongoing penalties. The letter suggests that breaking up the
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PEPEOCTO Memecoin Will Rally 18,000% Ahead of Exchange Listings, While Shiba Inu and DOGE Lag
Pepe October could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Pepe October (PEPEOCTO), a new Solana memecoin that was launched today, is set to explode over 18,000% in price in the coming days. This is because PEPEOCTO is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Pepe October can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to Bitcoin.com
Is The Worst Over For Bitcoin? Analyst Suggests Local Bottom May Be Here
A CryptoQuant analyst known as “caueconomy” recently published a post indicating that Bitcoin (BTC) may have reached a local bottom. The analyst points to a significant liquidation event as a key sign that a short-term recovery could be on the horizon. Although caueconomy acknowledged that Bitcoin has been going through a period marked by bearish price sentiment and technical indicators suggesting potential further decline, the analyst also highlighted that emerging signs may indicate a stabilization in the asset’s price. Related Reading: Bitcoin Miner Selloff Is Calming Down: Green Sign For Rally To Continue? How Is BTC Long Liquidations Suggesting Local Bottom? The post by caueconomy on the CryptoQuant QuickTake platform titled “Liquidation of long positions may have established a local bottom” sheds light on how long-position liquidations in the futures market could influence Bitcoin’s price. Caueconomy elaborates that in the face of notable price declines, long contracts bought on future exchanges tend to experience sharp reductions due to mass liquidations. This process, in turn, diminishes the selling pressure that often exacerbates price drops, potentially setting the stage for a recovery in the asset’s price in the short term. On October 1st, over 4,000 BTC long positions were liquidated, marking the second-largest liquidation event of 2024 based on data compiled by CryptoQuant. The analyst mentioned that such significant liquidation events often indicate potential market reversals or local bottoms, as the selling pressure from these positions is removed from the market. However, caueconomy points out that it is crucial to keep a close eye on the buying strength to gauge whether it can offset the decline and facilitate recovery. The analyst advises that although the current range may be sustained in the short term, the potential for upward movement is contingent on renewed buying interest and market activity. The analyst concluded in the post: At this point, the price is likely to sustain the current range in the short term, but it will be necessary to watch the buying strength to be able to recover the decline. Is there Any Sign Of Buying Interest In Bitcoin Currently? So far, Bitcoin appears to be seeing a gradual rebound in price registering a 3.5% increase in the past day to reclaim the $62,000 mark. At the time of writing, the asset currently trades for $62,238. This increase in BTC has been reflected in the overall crypto market, with the global crypto market cap now up by 2% in the past day to a current valuation of 2.26 trillion. Meanwhile, a renowned crypto analyst known as Ali on X recently reported a form of Bitcoin buying interest ongoing on an exchange. Related Reading: Is Bitcoin On The Brink Of A Reversal? Here’s What This Key Indicator Suggests In a post uploaded earlier today on X, Ali pointed out that there has been a surge in the Taker Buy/Sell Ratio on OKX, the fourth-largest cryptocurrency exchange by 24-hour trading volume. There was a spike in the #Bitcoin Taker Buy/Sell Ratio on @okx! This indicates a surge in aggressive buying — a sign of upward momentum ahead! pic.twitter.com/QgZ9qkhSls — Ali (@ali_charts) October 4, 2024 This spike in the ratio indicates an increase in aggressive buying activity within the market, a potential sign of renewed upward momentum. Such behavior often reflects increased confidence from buyers, hinting at the possibility of a price recovery or a new upward trend. Featured image created with DALL-E, Chart from TradingView Bitcoin.com