Author: Crypto News Live
On-chain metrics revealed that selling sentiment was dominant across the market A key market indicator hinted at a trend reversal, but others remained bearish Bitcoin’s [BTC] week-long bull rally came to a halt as its daily chart turned red over the last few hours. In fact, BTC lost some momentum between 16 and 17 May after a sell signal flashed on its price chart. Hence, it’s worth looking at Bitcoin’s state to see whether this trend is likely to continue in the near-term. Bitcoin hits the pause button According to CoinMarketCap, Bitcoin was having a comfortable weekly rally as its…
Crypto analyst Crypto Jebb recently highlighted an inverse heads and shoulders pattern that had formed on the Bitcoin chart. This bullish pattern indicates another rally may be on the horizon for the flagship crypto, which could send its price to $100,000. How Could Bitcoin Could Rise To $100,000 Crypto Jebb revealed in a video on his YouTube channel that the inverse heads-and-shoulders pattern he had been predicting for a while had finally formed on the charts. He predicts this pattern could lead to a price breakout, sending Bitcoin’s price to $70,000. The analyst also noted that the price target of…
The XR Foundation, in collaboration with Saltwater Games, unveils its latest milestone: the launch of XR One, a gaming-dedicated blockchain platform poised to revolutionize the gaming industry. Powered by its native $XR token and fueled by the innovative Layer 3 Orbit chain co-developed by the Saltwater.Labs team, XR One represents a monumental leap forward in gaming technology.—The genesis of XR One is marked by collaboration and innovation. With grant funding from the Arbitrum Foundation, Saltwater Games has spearheaded the development of the Layer 3 Orbit chain, harnessing the scalability and flexibility of emerging Web3 technologies. This strategic partnership has culminated…
A customer sued Dolce & Gabbana USA on Thursday, claiming the NFTs they purchased lost 97% in value due to the company’s bungled delivery. Bloomberg reported Friday that the Italian fashion house sold the NFTs on Ethereum, promising “a slate of digital, physical and experiential benefits.” It reportedly told consumers that buying its DGFamily NFTs would unlock access to various digital rewards, physical products, and exclusive events. The lawsuit further alleges that Dolce & Gabbana failed to deliver the NFTs and promised benefits on time. The digital outfits, which arrived 20 days late, “could be used only in a metaverse…
Nuklai, an on-chain smart data platform, and peaq, a layer-1 blockchain for decentralized physical infrastructure networks (DePINs), have announced an integration aimed at enhancing AI and data monetization tools for DePINs, starting with the global Web3 marketplace for farmers, Farmsent.The news comes as peaq completed a token launch on Coinlist, raising $35 million from over 14,500 wallets in one of the largest campaigns the platform has seen in two years, which was oversubscribed by $15 million.The integration between Nuklai and peaq seeks to expand the array of AI and data tools available to DePINs on peaq. By leveraging Nuklai’s specialized…
Bitcoin maintained a balanced Put/Call Ratio ahead of the deadline ETH traders face potential losses as its price was close to the maximum pain point According to data from Deribit, the market-leading derivatives exchange, Bitcoin [BTC] options with a notional value of $1.18 billion will expire on 17 May. Also, Ethereum [ETH] contracts, valued at $950 million, would expire on the same day. At press time, the Put/Call Ratio for Bitcoin was 0.61 while the maximum pain point was $62,500. Source: Deribit Where do both BTC and ETH stand? In trading options, a put means that a trader has placed…
Pundi X Labs and Scoin, South Africa’s largest physical gold coin exchange, have officially announced a strategic partnership. Companies have agreed to use blockchain to bridge the gap between the exchange of physical and digital gold. This measure was taken due to rising gold prices, which rose by more than 13% in May 2024 and reached record prices in history. Digital gold tokens are a cryptographic representation of the value of gold. They are tied to physical gold reserves, allowing investors to own digital shares of gold. Blockchain technology lowers the deterrent and barrier to entry for the traditional investor,…
TL;DRPancakeSwap has pledged that they will reimburse traders up to $8 million in fees that have been incurred on their competitor’s platform.Full StoryBMW vs. Audi.Nike vs. Adidas.Coke vs. Pepsi.PancakeSwap vs. Uniswap.Today we’re talking about rivalries and this one’s getting hotter than a Pacqui chip.About a month ago, Uniswap hiked its ‘interface fees’ – fees charged to users to execute trades on the decentralized exchange (DEX) – from .15% to .25%.Now, the team behind PancakeSwap (a competing DEX) has pledged that they will reimburse traders up to $8 million in fees that have been incurred on their competitor’s platform.In order to…
U.S. spot Bitcoin ETF inflows, Millennium Management’s holdings demonstrate growing institutional involvement Galaxy Digital’s income surge and increased ETF investments propelled Bitcoin’s latest hike too As Bitcoin hiked past $66,000 on the price charts, U.S. spot Bitcoin [BTC] ETFs registered a notable hike. In doing so, it recorded two-week high inflows of $303 million. In fact, according to data published by Farside Investors, all spot Bitcoin ETFs except for BlackRock’s iShares Bitcoin Trust (IBIT) saw inflows on 15 May. Source: Farside Investors Interesting data sets Surprisingly, IBIT remained stagnant for the third consecutive day, neither seeing significant inflows nor outflows.…
Leading on-chain analyst James Check, popularly known as Checkmatey, has recently delved into the intricacies of Bitcoin’s market dynamics, offering a detailed on-chain data analysis that sheds light on the forces driving Bitcoin prices. His latest insights highlight a period he describes as “Quiet and Trending,” suggesting a robust underpinning despite significant sell-side pressures and shifts in volatility. Bitcoin Follows The Stair-Stepping Rally-Consolidation-Rally Pattern Since December, Bitcoin has experienced substantial sell-side pressure, with over 1.5 million BTC being sold. “Around 30% of this came out of GBTC, but the rest of it was good old fashioned profit taking,” Check explains.Despite…
