Despite a 23% drop from January highs, Bitcoin’s long-term technical indicators suggest the cryptocurrency remains in a bullish trend with potential for recovery based on historical patterns and market fundamentals.
Bitcoin’s surge to $82,700 has sparked excitement, but trading experts warn this could be a classic bull trap as market makers offload positions and China prepares potential retaliation in the escalating trade war.
Bitcoin has shattered previous records by reaching $88,000, fueled by Trump’s election victory and pro-crypto stance, leading investors to speculate about an impending “altseason” that could trigger massive gains across alternative cryptocurrencies.
The NFT market has experienced a significant uptick with sales volume reaching $96.1 million, marking a 16.1% increase, while Bitcoin’s NFT ecosystem surprisingly overtakes Solana for second place following Trump’s election victory and crypto market rally.
XRP experiences a dramatic 54% surge in trading volume, reaching $1.04 billion, as the cryptocurrency market shows signs of recovery following a massive $225 million liquidation event, with the token’s price climbing 2.29% to $0.512.
Despite a staggering 254,078% spike in Shiba Inu’s burn rate eliminating 5.63 billion tokens in 24 hours, historical patterns and current market indicators suggest limited potential for sustained price growth.
Crypto asset manager Bitwise has registered a trust entity in Delaware, signaling potential plans for an XRP-based ETF. Despite this development, XRP’s price remains relatively stable amidst a broader market downturn.
Ripple’s XRP token reaches a 7-week high, while Bitcoin consolidates below $66,000. Most altcoins experience minor losses, with Dogecoin among the few showing gains.
A mysterious transfer of 104 million XRP, worth over $58 million, has been detected, potentially signaling significant whale activity in the cryptocurrency market.
XRP is showing signs of a potential major breakout, fueled by recent legal victories and bullish chart patterns. Investors are cautiously optimistic but aware of market volatility.
