3 hours ago
Bitcoin’s price actions took a positive turn after the Monday night crash, and the asset tapped a weekly high of just under $98,000 earlier today. The altcoins also posted some notable gains ahead of today’s CPI numbers in the States, which are expected to lead to massive volatility once again. BTC Prepares for CPI The primary cryptocurrency had a highly volatile week as it traded above $102,000 last Tuesday but headed straight south in the following days. The culmination, at least at first, came last Thursday when BTC slumped to a monthly low of $91,250. It bounced off and recovered some ground in the following days but started to drop hard once again at the start of the current business week. As reported on Monday, the asset plunged by several grand in hours and dipped below $90,000 for the first time since November. The bulls finally stepped up on the gas pedal at this point and didn’t allow a further decline. Just the opposite, bitcoin started to recover some ground rapidly and spiked to $96,000 yesterday. It kept climbing gradually in the early Wednesday hours and neared $98,000 for the first time in a week. It failed there and now trades about a grand lower in anticipation of today’s CPI announcement. Still, its market cap is well above $1.9 trillion but its dominance is down to 54.6% on CG. BTCUSD. Source: TradingView XRP, XLM on the Rise The biggest gainers from the larger-cap alts are Ripple and Stellar. Both assets have gained around 10% over the past 24 hours and sit above $2.8 and $0.45, respectively. Cardano is also well in the green as it managed to reclaim the $1 level. Other alts with minor gains today include DOGE, TON, AVAX, and LINK. In contrast, ETH, SOL, BNB, TRX, and SUI are with some losses within the same timeframe. The total crypto market cap has recovered over $200 billion since Monday’s low and is above $3.5 trillion. Cryptocurrency Market Overview. Source: QuantifyCrypto The post XRP, XLM on the Rise, BTC Price Taps $97K Ahead of CPI Announcement (Market Watch) appeared first on CryptoPotato .
Crypto Potato
You can visit the page to read the article.
Source: Crypto Potato
Tags :
BTCEUR BTCGBP BTCUSD BTCUSDT Crypto News featured1 Market Updates XLMBTC XLMUSD XRPBTC XRPUSD
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery
A closely followed analyst thinks traders who are bearish on Bitcoin are changing their stance after BTC’s latest bounce. Pseudonymous trader Cheds tells his 346,600 followers on the social media platform X that Bitcoin’s abrupt recovery following its drop below $90,000 on Monday indicates that BTC remains in a strong uptrend. According to the analyst, Bitcoin flashed a high wave doji candlestick on Monday, a pattern suggesting deep-pocketed investors are defending BTC’s bullish trend. “BTC daily – high wave doji with range low sweep/recapture Notable momentum story.” Source: Cheds/X Cheds also notes that Bitcoin appears to have broken out of a W double bottom pattern, a bullish reversal structure indicating that a new uptrend is underway. “W with lower low spring (like we just saw on BTC 4H) is one of my favorite setups. Powerful.” Source: Cheds/X With Bitcoin trading above the pattern’s upper boundary of $96,000, the analyst now thinks those who were predicting more downside price action for BTC will flip their stance. “Break $96,000 and bears will chase.” At time of writing, Bitcoin is trading for $97,070. Cheds also says that BTC bears will eventually be rewarded for their efforts, but notes that their moment to dominate Bitcoin’s trend has not yet come. “Trends tend to continue, bears are early in my opinion.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery appeared first on The Daily Hodl . Crypto Potato
Ripple Donates $100,000 in XRP for California Wildfire Relief
Ripple, a prominent blockchain company, has stepped up to assist victims of California’s devastating wildfires by donating $100,000 in XRP through The Giving Block. The funds will support relief efforts by nonprofit organizations World Central Kitchen (WCK) and GiveDirectly, aiming to provide essential resources to those affected. Ripple Leads Corporate Support Ripple announced the donation … Continue reading "Ripple Donates $100,000 in XRP for California Wildfire Relief" The post Ripple Donates $100,000 in XRP for California Wildfire Relief appeared first on Cryptoknowmics-Crypto News and Media Platform . Crypto Potato
