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Incoming MATIC Surge: Analyst Predicts $15 Price Target

Digital asset analyst with X handle Crypto Patel has recently shared a bullish prediction on MATIC price movement in the coming weeks. This forecast comes amidst MATIC’s poor performance in the last seven days, during which it lost 6.68% of its market value, based on data from CoinMarketCap. 

The Polygon native token had been one of the best-performing assets in 2024 rising by over 76.38% between January to March. However, the altcoin has now recorded a 22.83% decline over the last two weeks, drawing much concern over its future price movement. 

$1.20 Price Level Critical For MATIC Price Surge, Analyst Says

In a post on X on March 23, Crypto Patel presented a bullish case for MATIC despite the token’s current downtrend, naming the forecast the “MATIC BULL RUN ROADMAP.”

Firstly, the analyst stated that a MATIC bullish pennant was being formed. For context, the bullish pennant represents a price pattern that typically follows a string of upward movement in price (the flagpole) followed by a period of consolidation (pennant).

A bullish pennant is characterized by converging trendlines, which indicates the continuation of the previous uptrend once the price breaks out of consolidation. Importantly, Crypto Patel emphasized that MATIC’s bullish pennant was being formed on a higher time frame (HTF), such as the weekly chart. 

Following historical trends, the complete formation of the bullish pennant could result in Polygon native asset experiencing a 100x price increase in the highly anticipated crypto bull run, as observed in 2021.

However, with a focus on short-term targets, Crypto Patel has stated that MATIC reaching the $1.20 price zone on the HTF could trigger a surge to a range of $10-$15, representing a potential 1500% gain on the asset’s current price.  Albeit, in the advent of an unexpected crash, the crypto analyst expects MATIC could be significantly affected but should find support around the $0.60-$0.70 price zone. 

MATIC Price Overview

At the time of writing, MATIC trades around $0.9817 with a 1.30% gain in the last 24 hours. Meanwhile, the token’s daily trading volume has declined by 31.82% and is valued at $291.65 million. With a market cap value of $9.7 billion, MATIC is ranked the 16th largest cryptocurrency and one of the world’s most prominent digital assets.

MATICMATIC trading at $0.9771 on the daily chart | Source: MATICUSDT chart on Tradingview.com

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Bitcoin ETF Netflows May Experience Rebound If This Price Is Attained, Analyst Explains

In line with the decline in Bitcoin’s price, the spot Bitcoin ETF market has appeared rather gloomy in recent days. According to data from analytics firm BitMEX Research, these BTC ETFs have recorded a negative netflow for the last four trading sessions. 

This situation has been marked by large levels of Grayscale’s GBTC outflows and the record low inflows for the other ETFs, mainly the market leaders BlackRock’s IBIT and Fidelity’s FBTC. However, amidst these persistent declining netflows, Ki Young Ju, a prominent analyst and Chief Executive Officer at Cryptoquant, has predicted a possible resurgence in the spot Bitcoin ETF market.

Analyst Pinpoints $56,000 Level As Critical To Bitcoin ETF Recovery

In a post on X on March 22, Ki Young Ju shared that a rise in spot Bitcoin ETFs netflows could occur even as the BTC price decline continues. Using data from the historical netflow trends, the analyst noted that demand for Bitcoin ETFs usually kicks in when the cryptocurrency traces to certain support levels. 

Young Ju stated that, in particular, new BTC whales, especially ETF buyers, have shown to have a $56,000 on-chain cost basis. This suggests that the new significant holders of Bitcoin, particularly those invested in ETFs, usually purchased Bitcoin at an average price of $56,000.  Following this trend, the crypto quant boss believes the spot Bitcoin ETF market could experience massive inflows if BTC reached the specified price level.

For now, Bitcoin’s price has oscillated between $62,000 and $68,000, as seen in the last week. However, Young Ju believes that such a descent is quite feasible as price corrections usually see a maximum decline of 30%. Using BTC’s most recent high of $73,750, the analyst predicts the asset price could still trade as low as $51,000. 

BTC Price Overview

At press time, Bitcoin continues to trade at $64,065.74, representing a decline of 3.73% and 7.17% in the last one and seven days. Meanwhile, the asset’s daily trading volume is down 3.53% and valued at $39.62 billion. 

Following historical trends of the bull cycle, it is possible that BTC may have reached its price peak leading up to the halving event in April. If that is the case, Bitcoin may likely not return to previous high price levels soon and could experience further price drops in the coming weeks.  

Bitcoin

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Introducing Book Of Meme (BOME), The Latest $1 Billion Crypto Sensation

Memecoin project Book of Meme (BOME) has emerged as the latest shining star in the crypto market over the last few days. Following its official launch this week, BOME has attracted much investor interest, acquiring a market cap of $1 billion within 48 hours of trading.

BOME’s sudden emergence can be regarded as a silver lining in the crypto space in the last week amidst Bitcoin’s 4% decline, which resulted in the maiden cryptocurrency falling to around $65,345.14. Meanwhile, Ethereum is also down by 10%, while prominent memecoins Dogecoin and Shiba Inu also recorded losses to the tune of 24.23% and 16.69% over the last seven days. 

What Is The Book Of Meme?

The Book of Meme was founded by DarkFarms, the creator of another popular memecoin Pepecoin. BOME functions as an experimental project aimed at incorporating memes, decentralized storage solutions, degen shitcoin trading, and gambling on a single platform in a bid to create a novel web3 experience. 

Following a successful presale that raised 10,131 SOL, BOME debuted in the crypto market on March 14 with an initial price of $0.0000496. Over the next two days, Book of Meme swiftly rose to a price region of $0.012 while achieving a market cap value of $1 billion. 

Unsurprisingly, BOME’s expeditious rise has earned the coin listings on major crypto platforms, including KuCoin, Gate.io, MEXC, HTX, Crypto.com and Binance. In particular, BOME’s listing on Binance on March 16 is believed to have spurred the token to a 243% price gain within a day, allowing the memecoin to gain a peak market cap of $1.55 billion. 

In a similar fashion with other highly successful memecoins, some investors have benefitted the most from BOME’s rise. Data from LookonChain reveals that a certain investor already sold all 347 million BOME for 34,647 SOL valued at $6.58 million, recording a 340x gain on 102 ($19,000) investment at the presale. Meanwhile, the largest BOME holding personal address known as sundayfunday.sol currently holds 1.242 billion BOME, valued at $29.8 million. 

BOME Price Overview

At the time of writing, Book of Meme currently trades at $0.02139 with a 58.08% gain on the last day. Meanwhile, the coin’s daily trading volume is up by 125.05% and is valued at $5.18 billion. BOME’s current market cap stands at $1.18 billion, allowing the memecoin to rank as the 85th largest cryptocurrency. 

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Analyst Expects Bitcoin Price Correction To Persist, Targets $57,000 Support

Bitcoin (BTC) has drawn much attention in the last few weeks, with a stunning price surge leading to a new all-time high of $73,750. Largely defined as the pre-halving rally, BTC’s bolstering gains have been followed by significant price correction, with the crypto market leader trading as low as $65,630 on March 15. 

While the cryptocurrency may have picked up some minor gains in the last 12 hours as it attempts a market recovery, popular analyst Michaël van de Poppe has released a disturbing prediction that indicates Bitcoin price correction may be far from over.

Related Reading: Behind The Scenes Of Shiba Inu 12% Plunge: What On-Chain Analysis Tells Us

Bitcoin May Have Peaked Pre-Halving, Analyst Says

In a Friday post on X, van de Poppe shared a market forecast that Bitcoin could fall as low as $57,000, thus prolonging its current correction phase. The analyst began by highlighting that BTC still retained a valid bearish divergence which occurs when the price of an asset forms higher highs while the corresponding indicator forms lower highs. It usually indicates that the driving force behind a certain trend is attenuated with a reversal now on the horizon.

In the case of Bitcoin, the bearish divergence indicates the coin’s recent rally may be exhausted and is now likely to produce major negative price movements. Van de Poppe stated this theory was confirmed by BTC’s latest rejection at the $70,000 zone during its attempted market rebound. 

The prominent crypto analyst predicts Bitcoin to soon resume its price correction, falling to a price range of $57,000 to $61,000. If these speculations prove true, it could also indicate that in similar fashion, the BTC market may attain its highest value prior to the Bitcoin halving. 

For context, the Bitcoin Halving is historically preceded by a price rally followed by a significant price retrace ranging from 20% to 40%. With the next Halving event set for April 2024, van de Poppe believes that further retracement by Bitcoin could stamp the end of the pre-halving rally.

BTC Price Overview

According to data from CoinMarketCap, Bitcoin is currently trading at $69,027 with a 0.17% and 1.26% in the last hour and day, respectively. In tandem, the token’s daily trading volume is up by 1.20% and is valued at $69.58 million.

BitcoinBTC trading at $69,259 on the weekly chart | Source: BTCUSD chart on Tradingview.com

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Analyst Forecasts $40 Target For Chainlink (LINK)

Chainlink (LINK) continues to remain among the headlines following a negative performance, which saw the token’s price decline by 7.63% in the last week based on data from CoinMarketCap. However, despite this discouraging price loss, investors and market experts appear to remain bullish on the altcoin. For instance, popular crypto analyst Michaël van de Poppe has recently released a price prediction that states LINK could double its market price in the coming months.

Chainlink (LINK) Poised To Notch 122% Gains, Analyst Says

In a Friday post on X, Michaël van de Poppe presented a bullish case for Chainlink using the LINK/BTC 3-day chart. The analyst began his prediction by noting LINK’s positive stint in the first two weeks of February, during which the token rose by 32.77% to trade above the $20 price mark.

However, despite this impressive price gain, the prominent altcoin failed to breach a crucial resistance zone at 0.00480 BTC, thus failing to initiate a breakout. Following this event, van de Poppe believes that Chainlink is now seeking a higher low to serve as its support level.  For context, a higher low In technical analysis refers to a pattern on a price chart in which a successive low point in a trend is higher than the previous low point. It is usually interpreted as a bullish signal indicating a potential trend reversal or continuation of an upward trend.Chainlink

After successfully finding its higher low, van de Poppe anticipates LINK to experience a price reversal, gaining by 4,500 satoshis, which is currently valued at $2.29 at the current Bitcoin price of $50,761. Thus, Chainlink could soon return above the $20 mark. Furthermore, the analyst believes this price gain could lead to LINK finally initiating a breakout, hitting a price in the range of $30-$40 within the next few months. If this prediction proves true, the altcoin could experience a potential maximum gain of 122.71% on its present market price.

LINK Price Overview

At press time, Chainlink continues to exchange hands at $17.96 with a 0.11% gain in the last day. Meanwhile, the token’s daily trading volume has experienced a slight decline of 0.70% and is now valued at $426.65 million. Based on market shares, Chainlink is ranked as the 12th largest cryptocurrency with a total market cap value of $10.55 billion.

Chainlink

LINK trading at $17.944 on the daily chart | Source: LINKUSDT chart on Tradingview.com

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Filecoin (FIL) Notches 10% Gain Following Integration With Solana

Filecoin (FIL) continues to enjoy investors’ interest following a 10.28% gain in the last day, according to data from CoinMarketCap. The altcoin has recently been the center of attention following a gradual price rise in the past week culminating in a 15.34% price gain. Interestingly, the spike in FIL’s price over the 24 hours appears to be fueled by exciting developments in the project’s ecosystem.

Filecoin Meets Solana

In an X post on February 16, Filecoin announced an integration with the popular Ethereum rival, Solana. Launched in March 2020, Solana is regarded as one of the most prominent smart contract-compatible platforms offering fast transactions and almost non-existent fees.

Ranked as the fifth-largest crypto project with a market cap value of $47.97 billion, Solana’s integration with Filecoin is aimed at migrating from its widely criticized centralized storage system to decentralized storage solutions, with the aim of improving its existing scalability and integrity. 

Through this integration, Filecoin’s network will assist Solana in enhancing access to its blockchain history, which will be beneficial to developers, explorers, indexers, and other network users. In addition, Filecoin’s decentralized storage solutions will allow Solana to experience data redundancy, scalability, and a higher level of security while operating as a decentralized network. 

Interestingly, this development created much excitement in the Filecoin user community as FIL surged by over 10%, reaching a value of $6.36. Meanwhile, FIL’s daily trading volume stands at $497.78 million, having recorded an astounding 178.42% gain.

FIL Price Prediction

FIL began 2024 on a turbulent note losing about 40% of its value between January 1 and January 23. However, in the last few weeks, the token has experienced a steady price recovery which is further aided by its most recent boost in price.

If the bulls are able to sustain the current buying momentum, FIL may hit the $8 price mark representing a return to the levels seen at the start of 2024. However, according to the token’s daily chart, the relative strength index has now crossed into the overbought zone. This indicates that there might be an incoming trend reversal. In that case, FIL’s price may fall as low as $4.90, which represents its next support level and a 23.71% decline from the current market price. 

FilecoinFilecoin (FIL) trading at $6.341 on the daily chart | Source: FILUSDT chart on Tradingview.com

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Coinbase Custody Accounts For 90% Of All Bitcoin ETFs – Details

Coinbase Custody reportedly now holds over 90% of all Bitcoin ETFs in the United States. This development was revealed by the crypto exchange’s CEO, Brian Armstrong, while appraising the company’s performance in the fourth quarter (Q4) of 2023.

Coinbase Emerges As Major Player In Bitcoin ETF Market

In an X post on February 16, Brian Armstrong shared specific highlights of Coinbase’s achievement in Q4 2023. In particular, He noted that the American crypto exchange has played a crucial part in facilitating the adoption of cryptocurrencies by traditional financial firms (TradFi).

A major part of this adoption is the Bitcoin ETF market which is worth $37 billion, ranking as the second largest commodity ETF market after Gold. Armstrong noted that Coinbase has played a significant role in this development, serving as custodian for 90% of the investment funds in the Bitcoin ETF market.

For context, a custodian is a regulated financial institution that holds customers’ securities and assets, providing protection against any form of loss or theft. Notably, Coinbase is listed as the custodian for eight of the 11 recently launched Bitcoin spot ETFs. These include BlackRock’s IBIT, Ark Invest’s ARKB, Bitwise’s BITB, and Grayscale’s GBTC, among others.

These statistics indicate that Coinbase is well placed to record larger milestones as the top traditional financial institutions are tipped to finally invest in Bitcoin ETFs, especially upon the proven success and stability of the Bitcoin spot ETFs.

According to Armstrong, other notable Coinbase achievements in Q4 2024 include the launch of the exchange’s international wing, and the layer-2 blockchain solution Base. The crypto exchange also claimed to slash its annual costs by 45% while generating a total income of $3.1 billion.

Looking Forward To 2024

In retrospect to 2024, Armstrong stated that Coinbase will maintain focus on its international expansion and new derivatives products. In addition, they will aim to promote the adoption of crypto payments by transforming the Coinbase wallet into a super app. 

Finally, the exchange CEO states that Coinbase will continue to advocate for a clear regulatory framework applicable to the crypto space. Armstrong says that Coinbase is committed to this course and is willing to explore all means, including legal processes as well as engaging the federal legislators.

CoinbaseCOIN trading at $180.28 on the trading chart | Source: COIN chart on Tradingview.com

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Bitcoin Price Forecast: Analyst Predicts $100,000 Peak Before Halving Event

Crypto analyst Adam Back believes there is a chance Bitcoin (BTC) could hit the $100,000 price mark ahead of the halving event in April. This prediction comes as Bitcoin continues its recovery from a rather bearish January. Data from the price tracking site, CoinMarketCap, reveals that BTC’s price gained by 11.02% in the last week, moving into the $47,000 zone. 

Dual Bull Cycle? Analyst Forecasts Bitcoin Bull Run Pre-Halving

In a post on X on February 10, Adam Back shared a Bitcoin price forecast in which he predicted the digital asset to attain a new all-time high (ATH) price before the much-anticipated halving event on April 12, 2023. Back based his projections on Bitcoin’s historical price data stating that just like on Friday, BTC crossed the $47,000 mark on October 1, 2021, in what would be a 41-day journey to its current ATH of $69,045. 

The analyst explained that he anticipates that BTC will maintain its present upward trajectory, embarking on a bull run to possibly notch a new ATH within the next 70 days leading up to the Bitcoin halving event. Back’s price prediction comes across as somewhat unique as, historically, the Bitcoin bull run usually occurs months after the halving event. 

However, the crypto analyst explains in subsequent responses to certain X users that he anticipates the recent launch of the Bitcoin spot ETFs to induce a bull run before the halving event. Following a rather rocky launch, the Bitcoin spot ETF market appears to have finally found its expected rhythm, with consistent positive net inflows recorded throughout last week. 

Notably, on Friday, the budding ETF market experienced a total net inflow of $541.5 million, second only to the $655.3 million recorded on the first trading session on January 11. In addition, Grayscale’s GBTC continues to see a consistent decline in outflows recording a new low of $51.8 million. 

Adam Back predicts that a consistent development of the Bitcoin spot ETF market over the next few weeks could trigger a bull run pre-halving, causing the asset to potentially reach the $100,000 price mark. In addition, the analyst supports Bitcoin still to repeat its bull run months after the halving event, painting a dual bull cycle. 

BTC Price Overview

At the time of writing, Bitcoin trades at $47,716, reflecting a 0.88% gain in its price over the last day. However, the token’s daily trading volume is down by a staggering 59.68% and is valued at $15.92 billion. Meanwhile, BTC continues to dominate the crypto market with the largest asset market cap of $936.17 billion.

BitcoinBTC trading at $47,668 on the daily chart | Source: BTCUSDT chart on Tradingview.com

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Bitcoin Price Faces Threat As Analyst Foresees $55 Million Liquidation

According to data from CoinMarketCap, Bitcoin (BTC) has maintained its upward price trajectory over the last day, gaining by 4.04% to briefly trade above the $48,000 mark. As BTC now hovers around the $47,100 price zone, investors and market experts remain highly speculative about the token’s next action. On that note, popular analyst Ali Martinez has called a major prediction that could spell weighty losses for many investors. 

Liquidity Hunters Target $45,810 In Potential Bitcoin Price Manipulation Plot 

In an X post on Friday, Martinez predicted an incoming dip in Bitcoin’s price driven by a planned liquidation. Using data from the cryptocurrency futures trading platform, CoinGlass, the analyst stated the Bitcoin liquidation heatmap indicated that there is potential strategic liquidation in play.

Martinez stated that liquidity hunters in the BTC market could be looking to push the token’s price as low as $45,810 for personal benefits. For context, liquidity hunters are traders or investors who actively seek opportunities in the financial markets to exploit changes in liquidity. 

This set of market players often targets specific price levels where there is a concentration of stop-loss orders or where market liquidity is expected to be thin. By triggering liquidations or capitalizing on price movements, liquidity hunters aim to profit from short-term market inefficiencies. 

According to Martinez, the liquidity hunters in the BTC market are currently looking to induce an estimated 3% decline in the token’s price. While this change may seem minimal, it represents an astounding $54.73 million in liquidations. Based on these numbers, BTC traders and investors should be wary of potentially significant losses in the coming days. 

BTC Price Overview 

The premier cryptocurrency has recently taken flight, gaining by 8.6% in the last two days after a flat period of consolidation stretching to the beginning of February. Interestingly, the asset’s pathway to higher gains appears more confident with recent developments in the Bitcoin spot ETF market, which recorded a total net flow of $403 million on February 8 – the highest value of that metric since January 17. 

At the time of writing, Bitcoin trades at $47,238, with a 0.26% gain in the last hour. Meanwhile, the coin’s daily trading volume has soared by 56.33% and is now valued at $39.42 billion. In addition, BTC maintains its top spot in the crypto market with a total market cap of $924.67 billion. 

BitcoinBTC trading at $47,229 on the daily chart | Source: BTCUSDT chart on Tradingview.com

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Bitcoin SV (BSV) Price Dips Following Coinbase Delisting

Bitcoin SV (BSV),  a hardfork of the Bitcoin token, has drawn much attention in the last day after top American exchange Coinbase announced its termination of support for the asset. Following this news, BSV’s price has taken a hit, falling by over 5% in the last 24 hours.

Coinbase Ends Support For Bitcoin SV

In an X post on February 3, Coinbase shared that it had officially withdrawn support for BSV on its platform. This announcement follows a previous post in December when the exchange first communicated its intentions to delist BSV.

According to Coinbase, all BSV remaining in customers’ wallets have been liquidated and replaced with the equivalent market value of another asset. However, the exchange states that certain wallets may not receive any compensation assets due to the transaction costs associated with the liquidation and replacement process. 

As of now, Coinbase has provided no official reason behind its decision to remove BSV from its coin offerings. However, it is worth noting that Bitcoin SV has been a rather controversial asset since its creation in 2018. 

Notably, the BSV blockchain network has been subject to multiple 51% attacks in the past due to its rather “centralized” structure, which serves as a source of concern to many exchanges. Aside from Coinbase, other top exchanges that have delisted Bitcoin SV include Binance, Kraken, Bittrex, Robinhood, etc. 

Furthermore, the token’s founder Craig Wright has continuously drawn criticism to himself for claiming to be the anonymous inventor of Bitcoin – Satoshi Nakamoto. In 2022, Wright filed to obtain the Bitcoin copyright and block the operations of the Bitcoin network and Bitcoin Cash claiming a violation of intellectual property. However, the court rejected this petition in the face of surmountable evidence against the plaintiff.

Bitcoin SV Price Overview 

At the time of writing, BSV trades at $72.65 with a 5.61% price loss on the last day but a 0.10% gain on the weekly chart. Despite an impressive end to 2023 in which it gained by almost 110% in the last week of the year, the Bitcoin hardfork is now down by 15.20% in the last 30 days. 

Meanwhile, the token’s daily trading volume is barely positive, having gained by 7.54% to attain a value of $90.39 million. With a total market cap of $1.43 billion, Bitcoin SV ranks as the 52nd largest cryptocurrency in the world.

Bitcoin SV

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Bitcoin Set For Positive Performance In Q2 2024: Coinbase Analysts

Analysts at cryptocurrency exchange Coinbase are backing Bitcoin and the entire crypto market to put up a significantly positive performance in Q2 2024. This development comes as BTC continues its market recovery, gaining by 3.31% in the last week to trade above $43,000. 

Downward Pressure On Bitcoin Subsides, Macro Factors To Come Into Play: Analysts

In the Coinbase weekly report on Friday, the American exchange’s analysts noted that the market factors that induced downward pressure on Bitcoin were being phased out. This claim is backed by the completion of the GBTC’s liquidations by defunct exchange FTX as well as the recovery of certain crypto entities from bankruptcy, indicating a change in the dynamics of the BTC market. 

Furthermore, the analysts also highlighted the stable performance of the Bitcoin spot ETF market in the last week, marked by average daily net inflows of $200 million and a daily trading volume of $1.35 billion in the last week. However, in the coming weeks, Coinbase market experts have predicted the macroeconomic factors to gain more influence in the crypto market. 

In particular, the analysts made reference to the US Federal Reserve’s decision to postpone the deliberation on scaling back its quantitative tightening (QT) to the next Federal Open Market Committee (FOMC) meeting in March. Based on this development, they predict the easing cycle will begin on May 1, which typically involves measures such as lowering interest rates to make loans cheaper and stimulate economic activity. In addition, they anticipate the Fed to start halting its balance sheet reductions by June to further support the US economy. 

Interestingly, they believe the Fed could consider implementing the end of the balance sheet reduction at the same time with rate cuts. Based on the “anodyne” policies policymakers implement in an election year, Coinbase analysts predict the US apex bank will cut interest rates by 100 basis points (bps) – 25bps more than the Fed’s expectation for future rates – which is equivalent to lowering rates by 1%. 

Generally, a reduction in interest rates is a positive omen for the digital asset ecosystem as it allows investors to pay low borrowing fees, accumulating more funds to invest in risk assets such as crypto tokens. Based on the multiple factors listed above combined with “idiosyncratic” factors, such as the Bitcoin halving, the analysts at Coinbae predict BTC, alongside other tokens, will serve as favorable portfolio additions in Q2 2024. 

Bitcoin Price Overview

At the time of writing, Bitcoin trades at $43,077.76 with a 0.20% gain in the last day. Meanwhile, the asset’s daily trading volume is down by 15.45% and is valued at $16.78 billion. With a market cap of $844.85 billion, BTC continues to rank as the largest cryptocurrency in the world.

Bitcoin

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Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000

In the last day, Bitcoin (BTC) has notched up minor gains to the tune of 0.7%, pushing its market price above the $42,000 mark. Investors in the world’s leading cryptocurrency are likely encouraged by this recent price gain, following the 20% price decline that trailed the highly anticipated approval of the Bitcoin spot ETFs earlier in January. 

Amidst many speculations on BTC’s next movement, popular crypto analyst Michaël van de Poppe has released a prediction that indicates Bitcoin’s movement may be restricted for the coming months. Albeit, he projects a massive price surge in future years.

Bitcoin Potential Consolidation Paves The Way For Altcoin Boom

In a post on X on January 27, van de Poppe shared an intriguing forecast on Bitcoin’s price trajectory, as he predicted the digital asset to soon enter a consolidation state.  According to the crypto analyst, Bitcoin is likely to trade between $37,000 – $48,000 for the next few months. If this prediction holds true, BTC could maintain its current upward trajectory and head for the $48,000 zone before experiencing any major pullback. 

Interestingly, van de Poppe also stated that a possible Bitcoin consolidation would lead to altcoins recording significant market gains. In a previous prediction, the crypto enthusiast shared a similar belief explaining that BTC is gradually approaching its peak market dominance with the Bitcoin halving event just a few months away. 

Based on historical data from 2016 and 2020, when BTC attains its highest level of market dominance, the altcoins embark on a bullish run and even outperform the market leader. Michaël van de Poppe is projecting a similar occurrence in the coming months, accompanied by a BTC consolidation phase.

Analyst Remains Optimistic About Long-Term ETF Impact On BTC

In the same post on X on January 27, de Poppe also commented on the potential effects of the Bitcoin spot ETF on the asset’s price. The analyst expressed much confidence in the newly introduced exchange-traded products  (ETP) stating they had the potential to spur BTC to a market price of $300,000 to $500,000 in the coming years.

His prediction comes as the Bitcoin spot ETF market is currently witnessing a decline in outflows following a rather perturbing start which saw over $4.786 billion exit the novel market within its first 10 trading days. 

On January 26 (trading 11), the BTC spot ETF recorded a new minimum outflow of $255.1 million, according to data from BitMEX Research. At the time of writing, total net flows in the ETF market stand at $759.4 million with Bitcoin trading at $42,088.  If de Poppe’s forecast proves true, investors in both markets could record massive profits in the coming years.
Bitcoin

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BlackRock’s IBIT Maintains Lead In BitcoETF Market, Crosses $2 Billion In Inflows

According to data from BitMEX Research, BlackRock’s Bitcoin spot ETF – IBIT –  has now set a new record, achieving a total net inflow of $2 billion. This feat allows IBIT to maintain its position as the best-performing fund of the bunch, following the approval of 11 Bitcoin spot ETFs by the US Securities and Exchange Commission on January 10.

BlackRock’s IBIT Maintains Dominance As Total Net Flows Reach $744.6 Million

On January 25, which marked the tenth trading day of the Bitcoin spot ETF market, BlackRock’s IBIT produced an unsurprising positive performance, notching $170.7 million in inflows. This gain allowed the investment fund to move into an exclusive list as the first Bitcoin spot ETF to amass $2 billion in market cap.

Commenting on this feat, Bloomberg analyst James Seyfarrt has credited the recent rise in BTC’s price as a major contributing factor. He said:

Yes, the #Bitcoin price has pushed $IBIT‘s assets beyond $2 billion. This plus likely new flows today should mean it will be above $2 billion at close.

Following the trading debut of BTC spot ETFs on January 11, IBIT quickly emerged as an investor’s favorite, recording the highest individual daily inflows of the market at $386 million on January 12. BlackRock’s BTC spot ETF has managed to retain this investors’ attention over the first two trading weeks, evidenced by its consistent positive performances, which has culminated in a total flow of $2.086 billion.

IBIT’s performance is closely followed by Fidelity’s FBTC, which recorded $101 million in inflows on January 25, moving its total flows to $1.825 billion. Meanwhile, other Bitcoin spot ETFs with notable performances include Bitwise’s BITB and Ark Invest’s ARKB, both of which boast individual cumulative AUMs of over half a billion dollars.

In other news, the outflows in Grayscale’s GBTC remain a constant trend; however, there has been a notable decline in selling volume over the last few days. At the time of writing, GBTC’s total outflow is valued at $4.786 billion. In comparison with a cumulative inflow of $5.53 billion, total flows in the Bitcoin spot ETF market stand at $744.6 million. 

Bitcoin Price Overview

At press time, Bitcoin is currently trading at $41,725.19 following a 4.52% price gain in the past day, according to data from CoinMarketCap. This recent uptick is quite significant, considering the asset’s previous bearish form, marked by a 20% decline over the last two weeks which resulted in BTC’s dipping below $39,000. 

Bitcoin’s price has been negatively affected by GBTC’s massive outflows; however, as the selling pressure appears to be decreasing, coupled with consistent positive performances of other ETFs, notably BlackRock’s IBIT, that crypto market leader could soon pull off a market recovery.

BlackRock’s IBIT

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Dogecoin (DOGE) Up By 11% As X Launches Dedicated Payment Account

According to data from Coingecko, Dogecoin (DOGE) has soared by 10.5% in the last 24 hours, drawing much attention from market analysts and investors alike. Prior to this gain, the memecoin had shown little price movement, hovering around the $0.08 price region for most of the past week. 

Dogecoin ranks as one of the top players in the crypto ecosystem, with a staggering market cap of $12.38 billion. The meme coin is particularly popular for its endorsements by famous figures such as Gene Simmons, Snoop Dogg, Mark Cuban and the world’s richest man Elon Musk.

Behind’s DOGE Rise

Interestingly, the current rise in DOGE’s price appears to be related to recent developments on Elon Musk’s social media platform X. On January 20, X launched a dedicated account for its X Payments initiative, a peer-to-peer payment service designed to enhance “user utility” and introduce “new opportunities for commerce”.

DOGE

The X Payments project was initially announced on January 9 as part of Elon Musk’s grand plan to position X as the “everything app”, providing a single interface which caters to user needs in terms of social media, advertising, content and video promotion, among others.

DOGE’s reaction to the creation of the X Payments account is driven mainly by the potential role many investors believe the token may play in this payment system upon launch. Such expectations are mostly based on Elon Musk’s vocal and consistent support of the meme coin since as far back as 2019. Tesla, one of Elon Musk’s more valuable companies, already accepts payment in Dogecoin, and there are speculations the crypto asset could adopt a similar role in the X Payments project. 

The potential of such incorporation could spell massive gains for DOGE in terms of adoption. According to X, its payment initiative is now registered in 32 states of the United States, securing a money transmitter license in 10. 

However, it is worth stating that there are no statements or hints from credible officials that X Payments will indeed adopt DOGE as a settlement option following its expected launch in mid-2024. Alongside the memecoin, other cryptocurrencies being propped to act as payment options in X’s e-commerce feature include XRP, and Stellar (XLM), among others. 

Dogecoin Price Overview 

At the time of writing, DOGE trades at $0.0861, reflecting a 7.4% gain in the last seven and fourteen days. On the monthly chart, DOGE is down by 7.5% and has barely shown any growth in the last year, with a Year-To-Date (YTD) gain of 0.6%. As earlier stated, Dogecoin boasts of a market cap of  $12.38 billion, making it the 10th largest cryptocurrency. In addition, the memecoin’s daily trading volume is valued at around $1.17 billion.

DOGE

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Fidelity Bitcoin Spot ETF Records $1 Billion In Net Inflows – Details

Data from the trading analytics platform BitMEX Research reveals that Fidelity’s Bitcoin spot ETF – FBTC – has now witnessed a total inflow of over $1 billion. This development comes as BTC attempts to rebound from its recent dip over the last two weeks with a 1.56% gain in the past day, based on data from CoinMarketCap.  

Fidelity Joins BlackRock On Exclusive $1-B List, As Grayscale’s ETF Continues To Bleed

Following the official launch of Bitcoin spot ETF trading on January 11, Fidelity has now become the second asset manager, with its BTC spot ETF recording an accumulative inflow of $1 billion. According to BitMEX Research, Fidelity’s FBTC experienced an inflow of $177.9 million on January 18, bringing its total inflows to $1.1 billion within five days of trading. 

FBTC now sits at the same table as BlackRock’s IBIT, whose total inflows are valued at $1.2 billion. Together, both investment funds by Fidelity and BlackRock now account for over 67% of the $3.4 billion inflows recorded in the Bitcoin spot ETF market so far. 

Other Bitcoin spot ETFs with a notable positive performance include Bitwise’s BITB, Ark Invest’s ARKB, and Invesco’s BTCO, which have posted individual total inflows of $395.5 million, $320.9 million, and $194.8 million, respectively. 

On the other hand, Grayscale’s GBTC continues to experience outflows on a massive scale. 

BitMEX Research reveals that GBTC recorded an outflow of $579.6 million on January 18, leading the Bitcoin spot ETF market to witness a net outflow of $131.6 million. This represented the second day the BTC spot ETF market recorded a net outflow since its launch. 

GBTC’s total outflows are now valued at $2.1 billion, resulting in Bitcoin spot ETFs having a cumulative net inflow of only $1.3 billion despite the $1 billion status of BlackRock and Fidelity’s ETFs.

Fidelity

Bitcoin’s Price Overview

Against popular predictions, Bitcoin has witnessed a price decline in the last two weeks following the approval of the much-anticipated BTC spot ETF on January 10. Many analysts have attributed this unexpected development to the massive selling pressure generated by GBTC’s outflows. 

At the time of writing, Bitcoin trades at $41,536, with a decline of 2.55% and 5.50% in the last seven and 14 days, respectively. As earlier stated, the premier cryptocurrency has garnered some gains of 1.56% in the last day, which may be indicative of a recovery, however, it is too early to call.

Bitcoin spot ETF

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Spot Bitcoin ETFs Record Over $800 Million In Net Inflows in Debut Week – Details

On Wednesday, January 10, the US Securities and Exchange Commission (SEC) finally approved the launch of spot Bitcoin ETFs, representing a remarkable event in US trading history. 

So far, market data on these investment funds have confirmed theories of increased institutional demand for Bitcoin, with over $800 million in total net inflows and $3.6 billion in trading volume recorded across the first two days of trading. 

Although these inflows are yet to be reflected in BTC’s price, as the premier cryptocurrency dipped by 2% in the last week, the spot Bitcoin ETFs have certainly kicked off with a blast which is indicative of potential gains for the world’s largest asset and the general crypto market. 

Spot Bitcoin ETFs Attract Over $1.4 Billion In Two Days – Bloomberg Data

In an X post on January 13, Bloomberg ETF analyst Eric Balchunas shared some insight on the impressive performance of the spot Bitcoin ETFs in their debut trading week. 

Balchunas noted that of the 11 approved spot BTC ETFs, nine have recorded a total inflow of over $1.4 billion. Leading the lot is BlackRock’s IBIT, with an estimated asset inflow of $497.7 million, closely followed by Fidelity’s FBTC, which boasts about $422.3 million in investment. 

The BTC spot ETFs of Bitwise and ARK/21 Shares have also produced a significantly positive performance attracting $237.9 million and 105.2 million, respectively.  On the other hand, Grayscale’s GBTC has been the market outcast, recording a stunning $579 million in outflows over the first two days of trading. 

Bitcoin spot ETF

Following the SEC’s approval on Wednesday, investors cashed in heavily on GBTC, which was recently converted from a closed-end fund to a spot ETF. SkyBridge Capital founder Anthony Scaramucci has already commented on this trend describing it as one of the potential reasons behind Bitcoin’s dip in the last week. 

In total, the spot Bitcoin ETF market recorded an impressive net inflow of $818.9 million in its debut trading week. These figures are likely to improve in the next few weeks as selling volume eventually declines. Meanwhile, investors still anticipate the debut of Hashdex’s spot ETF – DEFI – which is undergoing fund conversion from the company’s Bitcoin futures ETF.

BTC Price Overview

At the time of writing, Bitcoin exchanges hands at $42,980 reflecting a 0.73% loss in the last day. Meanwhile, the token’s daily trading volume has plummeted by 62.33% and is now valued at $16.9 billion. However, with a market cap of $842.23 billion, Bitcoin remains the largest cryptocurrency in the world.

spot Bitcoin ETFs

Featured image from Yahoo Finance, chart from Tradingview

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Analyst Pinpoints Crucial Support Level For Ethereum (ETH) Post-ETF Surge

According to data from CoinMarketCap, Ethereum (ETH) had dipped over 2% in the last 24 hours. This negative price movement comes after an initial price boost by the token which it gained by over 19% following news of the Bitcoin spot ETF approval in the US on Wednesday. 

Interestingly, popular crypto analyst Ali Martinez has offered more insight into ETH’s developing downtrend, highlighting the next possible support zones for crypto’s largest altcoin. 

Ethereum May Be Headed For $2,450 – Analyst

In an X post on January 11, Martinez shared that the TD Sequential indicator presented a sell signal on the Ethereum 4-hour chart, which could possibly result in the altcoin’s price falling to a support level of $2,530. 

For context, the Tom Demark Sequential indicator is a popular TA tool used to identify trend exhaustion and predict possible trend reversals. 

According to Martinez, this analysis tool showed that ETH was due for a price correction following a price surge in which the asset traded above $2,700 in reaction to the US Securities and Exchange greenlighting the launch of Bitcoin spot ETFs on US securities markets. 

Interestingly, in a second post on January 12, the renowned crypto analyst doubled down on this prediction stating that if the ETH bulls failed to keep the coin’s value above $2,530, there was a chance the token could trade as low as $2,450.

According to Martinez, ETH’s current negative price movement appears to be a mere correction which is likely true as the general investor sentiment around the altcoin remains bullish.

Earlier this week, NewsBTC reported that ETH investors are hyped with the expectation of an Ether spot ETF in the US following the SEC’s clearance of 11 Bitcoin spot ETF applications on Wednesday. Considering ETH’s rank as the second-largest cryptocurrency after Bitcoin, as well as the rising number of Ether spot ETF applications, investors believe the altcoin may be in line for the SEC’s favor. 

ETH’s Price Overview

At the time of writing, Ethereum was trading at $2,548 with a slight decline of 2.67% in the last day. However, the altcoin has shown an overall bullish performance in the last week, with a notable gain of 14.48%. Adding to this positive narrative, there is also an uptick in ETH’s daily volume by 22.25% which is currently now valued at $26.8 billion. 

Ethereum

Featured image from Forbes, chart from Tradingview

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Revised Forecast: Bloomberg Analyst Cuts Probability Of Bitcoin Spot ETF Rejection To 5%

Popular Bloomberg ETF analyst Eric Balchunas has lowered the possibility of the US Securities and Exchange Commission (SEC) denying the launch of the Bitcoin spot ETF to 5%. This latest forecast comes as crypto enthusiasts worldwide anticipate a wide-scale approval of various Bitcoin spot ETF proposals by the SEC on Wednesday, January 10.

Why The Bitcoin Spot ETF Approval Appears Nearly Certain: Bloomberg Analysts Weigh In

In October, Eric Balchunas and fellow Bloomberg analyst James Seyffart predicted that there is a 90% chance that ARK Invest and 21 shares would receive approval for their joint Bitcoin spot ETF bid on January 10, which marked the final deadline date for the SEC’s response on their application.

However, in a recent X post on January 6, Balchunas raised the probability of this greenlight to an astounding 95% after declaring that there was only a 5% probability the SEC would reject the ARK/21 ETF bid in the coming days. 

This new prediction is based on the implausibility of all scenarios, which could represent a possible delay or non-approval of the ARK/ 21 shares Bitcoin spot ETF application. In an earlier X post on January 6, James Seyffart had listed these scenarios starting with ARK/21 shares spontaneously withdrawing their ETF proposal from the SEC, which he claimed to be highly unlikely. 

Another scenario is that the SEC discovers new reasons to reject the launch of a crypto spot ETF, resulting in a drawn-out court battle between the US regulator and ARK/21Shares, a situation that Seyffart believes the SEC would rather avoid, especially following its recent loud legal loss against Grayscale investment.

The final event that the Bloomberg analyst believes could prevent the clearance of the ARK/21 Shares ETF bid is a direct intervention from the US Presidency, another scenario that appears remotely possible.  

The D-Day Approaches

The importance of ARK/21 Shares’ joint bid to the Bitcoin spot ETF saga revolves around its final deadline date for an SEC response, which is the earliest of the bunch. Now, it is believed that the SEC will rather approve several Bitcoin spot ETF applications at once regardless of their respective final deadline date in a similar fashion as it did with Ether-futures ETFs in August. 

This belief is backed by the discussions between the US regulator and various applicants in the last few weeks, leading to amendments in respective proposals, which indicates the preparation of an incoming approval.

At the time of writing, the set date of expectation remains January 10, with crypto enthusiasts highly enthusiastic about the potential bullish effects of a spot ETF on Bitcoin’s price over the year. Meanwhile, Bitcoin continues to trade at $44,050, having gained by 4.50% in the last week.

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ETF Or Halving: Analyst Doubles Down On Bullish Year For Bitcoin

Bitcoin (BTC) began 2024 on a positive note gaining by 3.18% in the first week of the year, according to data from CoinMarketCap. The premier cryptocurrency is expected to herald in a bull crypto season, with many investors expecting immediate approval of Bitcoin spot ETF proposals by various asset managers. 

However, regardless of the decision of the US Securities and Exchange Commission (SEC) in the next few days, crypto analyst Ali Martinez believes Bitcoin is still poised for massive gains in 2024 as there is another bullish factor in play. 

Bullish 2024 For Bitcoin With Or Without ETF Approval – Analyst

In an X post on January 6, Martinez expressed much optimism about Bitcoin’s potential price performance in 2024. He stated that irrespective of developments in the Bitcoin spot ETF saga, BTC is still set for major price surges due to another bullish narrative – namely, the Bitcoin Halving. 

To explain, the Bitcoin Halving is an event in which the block rewards for miners are reduced by 50%. It happens every four years, with the first occurrence being in 2012. The halving event causes a reduction in BTC supply in comparison to demand, causing scarcity which leads to a price increase. 

Martinez highlighted this fact stating that historically, there has been a significant increase in Bitcoin’s price following past halvings. When the first halving occurred on November 28, 2012, BTC was trading at around $12. In the next year, the token had attained a new price of $1,000. 

A similar phenomenon was noted after the second halving on July 9, 2016, at which Bitcoin was valued at $670. However, By December 2017, BTC had surged to an all-time high of $19,700. The third halving event took place in May 2020, with Bitcoin being traded at $8,821. By November 2021, BTC had surged by 700%, attaining its current all-time high of $68,783.

Based on this price history, Martinez believes that BTC investors are well placed to reap large profits in the coming months as the next Bitcoin halving is set for April 2024. He postulates that these cyclical gains should remain constant, notwithstanding the SEC’s approval for Bitcoin spot ETF or not.

BTC Price Overview

At the time of writing, Bitcoin trades at $43,665, experiencing a slight decline of – 0.30% in the last 24 hours. On a larger scale, the leading cryptocurrency has demonstrated resilience over the past seven days, posting a noteworthy gain of 4.07%. 

Over the last year, BTC’s performance has been remarkable, witnessing a substantial surge of 159.94%. However, amidst market fluctuations, there is a noticeable dip in daily trading volume, down by 22.25%, which is currently valued at $26.8 billion.

Bitcoin

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Worldcoin (WLD) Gains By 10% Following Singapore Debut

Worldcoin (WLD), the brainchild of OpenAI CEO Sam Altman, has experienced a significant level of positive traction in the past month. Notably, Worldcoin gained by over 50% in mid-December to attain an all-time high of $4.6. Although the token soon fell from these heights trading at $3.35 on December 25, it appears that WLD may be gathering momentum for another bullish breakout.

Singapore Launch, Among Others Spurs Interest In Worldcoin

According to data from CoinMarketCap, Worldcoin has gained by 9.68% in the last seven days, signifying a steady rise in buying pressure from investors in the WLD market. 

Using data from IntoTheBlock, popular crypto analyst Ali Martinez has given more insight into this bullish trend. On December 30, he shared via X that the number of WLD whales in possession of 10,000 to 100,000 WLD rose by 16.33% in the last week. Interestingly, this price increase and network growth occurred a few days after Worldcoin announced its expansion into the crypto-friendly nation of Singapore. 

 

In a blog post on December 27, the crypto project stated that it had successfully set up physical screening locations in the Asian nation allowing interested users to undergo the World ID verification process and join its growing network. 

Beyond Singapore, Worldcoin also shared that it has registered an increased presence in several nations in the last month. These include Spain, Germany, Chile, and Japan. Notably, in Argentina, the crypto project recorded a national record of over 10,000 World ID verifications in a single day. Apparently, these multiple strides appear to have increased investor confidence in Worldcoin, as indicated in the price action stated above. 

WLD Price Prediction

Based on recent developments surrounding Worldcoin, the token seems poised for a major boost in adoption which could translate into a price rise over the next few weeks. Aside from its expansion into new nations, the launch of the World ID 2.0 in mid-December, which introduced integrations with various Apps such as Reddit, Shopify, and Telegram, is also regarded as a positive development by the project’s growing number of users. 

Interestingly, Martinez predicts that WLD could soon experience an 80% rally based on chart indicators alone. If this projection proves true, the altcoin could trade as high as $6.30.

However, despite all these indications, it must be noted that Worldcoin remains under heavy regulatory scrutiny in some nations due to privacy concerns in regard to user data.

Worldcoin operations have been actively suspended in Kenya and are under investigation in Germany and the United Kingdom. In fact, the crypto project recently halted its orb verification service in Brazil, France, and India although citing a “limited time access” on the screening orbs provided in these markets.

At the time of writing, WLD trades around $3.73 with a 3.90% gain on the last day. In tandem, The token’s daily trading volume increased by 83.12% and is valued at $197.52 million. 

Worldcoin