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Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
XRP price is down today, like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week.
One token zoomed 1,200% even though its related project closed in May, data shows.
Bitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active.
The highly anticipated project co-founded by OpenAI's Sam Altman launched its token on Monday.
The spot market is in the driver's seat as perpetual futures open interest to market cap ratio remains low, one observer said.
Launch of the token comes alongside protocol launch and prior release of the wallet.
Bitcoin begins to fulfill traders’ downside targets as BTC price action retraces its steps in a crucial macro week.
- 03:46Analyst: The Federal Reserve's future interest rate cuts may depend on Trump's policiesIG Market Strategist Yeap Jun Rong wrote in a report that the trajectory of future interest rate cuts by the Federal Reserve may depend on the policies of elected President Trump, which are still unclear at this stage. He said that Trump's initial comments about tariffs did indeed sound very aggressive. However, he added, the extent to which these measures will be implemented is uncertain. Yeap stated that as policy becomes clearer, the Fed might initially lean towards a shallower cycle of rate cuts. He also indicated that with the conclusion of Fed meetings, unless there is an unexpected decision from Bank of Japan, U.S stock market could gradually rise in last few weeks of 2024. However, due to lack of further catalysts reaching new record highs by year end could pose challenges.
- 03:44The Ethereum main network Gas fee has risen to 33 Gwei, executing a Swap operation will cost $45According to Etherscan data, the Ethereum mainnet Gas fee has risen to 33 Gwei, and executing a Swap operation will cost $45.
- 03:42Data: Stablecoin protocol Usual TVL breaks through 1 billion USDAccording to official data, the stablecoin protocol Usual TVL has exceeded 1 billion US dollars. In addition, according to Bitget market data, USUAL is now reported at 1.031 USDT, with an increase of 10210% since its launch.
