Home Blog Page 990

Here’s How Many Days Left Before Bitcoin Market Top, Expert Insights

Abdulkarim Abdulwahab
-
0
Here’s How Many Days Left Before Bitcoin Market Top, Expert Insights

With Bitcoin recently setting a new all-time high in 2025, fresh discussions have emerged regarding when the ultimate market top for this cycle will occur.

On-chain analyst Ali Martinez recently cited Bitcoin’s historical performance following halvings to presents insights into the next cycle peak.

In particular, Martinez pointed to a window of 90 to 250 days for a potential ultimate price peak. This observation comes as Bitcoin is currently 276 days into its most recent halving cycle.

Bitcoin Consistent Trends with Past Cycles

In previous halving cycles, Bitcoin reached market tops well after the halving events. During the 2012–2016 cycle, the market top arrived 367 days post-halving. Meanwhile, the 2016–2020 cycle saw an extended period, with the peak occurring 527 days after the halving.

Image
CryptoQuat chart on Bitcoin halving trends

As of now, it’s been 276 days since the April 2024 Bitcoin halving. Interestingly, Bitcoin broke its previous cycle peak price before the latest halving occurred and has continued to trade in a price discovery phase. On January 20, 2025, Bitcoin set a fresh peak at $109,114, though it is currently 4% below that price.

Martinez suggests that if history repeats itself, the market could see an ultimate peak for Bitcoin within the next 90 to 250 days. This projection aligns with a top around mid to late 2025.

Also, this timeline would follow the pattern of prior cycles, where significant price surges occurred approximately one to one-and-a-half years post-halving. Essentially, the market is drawing closer to the end of the bull cycle that commenced in late 2023.

Bitcoin Price at Market Top

In this analysis, Martinez did not specify how high Bitcoin could reach by that time. However, in previous assessments, he has projected a high of $276,400, citing a cup-and-handle pattern.

These expectations align with those of veteran investor Mags, who recommended a 500-day Bitcoin strategy based on historical trends. 

Specifically, he advised entering the market 500 days before a halving event to buy at lower prices, holding through market volatility, and selling around 500 days after the halving, when the market tends to overheat.

This strategy aims to maximize gains while avoiding bear market downturns. For the current cycle, Mags predicts Bitcoin could reach $220,000 by September 1, 2025, which is 500 days after the April 2024 halving.

Meanwhile, some other market commentators have argued that Bitcoin may not align with previous cycles, especially given the stronger institutional appeal for the asset in the present cycle compared to prior seasons.

Ex-CFTC Chair on Regulators Letting Banks Use Crypto for Payments: ‘Trust Me It’s Going to Happen’

Okoya David
-
0
Ex-CFTC Chair on Regulators Letting Banks Use Crypto for Payments: ‘Trust Me It’s Going to Happen’

Former CFTC Chair Chris Giancarlo contends that regulators will allow U.S. banks to use crypto for payments.

The crypto industry’s fortunes appear to be changing rapidly. Just weeks ago, the trending topic in the space was “debanking,” a term describing claims that market participants had been locked out of banking services due to regulatory pressure.

Now, only a few days after President Donald Trump‘s inauguration, and one of the leaders of the U.S.’s top banks is already talking about embracing the asset class for payments, with a former top regulator asserting that regulatory moves to greenlight this are imminent.

U.S. Banks Set to Embrace Crypto?

Former CFTC Chair Chris Giancarlo has contended that regulators will allow U.S. banks to use crypto for payments.

“Trust me, it’s going to happen,” Giancarlo asserted on Tuesday, January 21, in response to an X post from MARA Holdings Chairman Fred Thiel.

In the post, Thiel highlighted statements from Bank of America CEO Brian Moynihan stating that the banking industry was ready to adopt crypto for payments if regulators allowed it.

Moynihan disclosed this in a conversation with CNBC‘s Andrew Sorkin at the World Economic Forum in Davos. The bank executive stressed that banks already had several blockchain patents and knowledge of how to enter the space.

Unsurprisingly, Giancarlo’s assertion that the regulatory green light for such a move is coming has sparked significant excitement among crypto market participants as U.S. banks supporting and perhaps pushing crypto payments could usher in a massive wave of adoption.

However, it remains unclear if and when this regulatory clarity will come. Still, the crypto industry remains optimistic amid Trump’s pro-crypto picks for several top regulatory positions, including the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Treasury.

TORN Spikes 116% as US Court Reverses OFAC Sanction Against Tornado Cash

Lele Jima
-
0
TORN Spikes 116% as US Court Reverses OFAC Sanction Against Tornado Cash

The price of TORN, the Tornado Cash governance token, spiked over 116% after a U.S. court reversed sanctions imposed against the famous crypto mixing protocol.

Court Overturns OFAC Sanction 

In a landmark ruling yesterday, the U.S. Court of Appeals for the Fifth Circuit reversed the OFAC sanction against Tornado Cash. It remanded the case to the District Court for the Western District of Texas for further proceedings. 

For context, six Tornado Cash users filed an appeal against OFAC’s sanction on November 26, 2024. At the time, these users alleged that the OFAC overstepped its congressional authority by sanctioning Tornado Cash

Following the appeal, the Appeals Court reversed the OFAC sanction against Tornado Cash. 

Previous Sanctions on Tornado Cash 

For context, recall that Tornado Cash, which launched in 2019, faced heavy scrutiny during its early days. Critics accused its co-founder, Alexey Pertsev, of facilitating money laundering on behalf of bad actors. 

Amid these criticisms, the United States Treasury’s Office of Foreign Assets Control (OFAC) placed sanctions on the protocol and blocked it in 2022. 

Specifically, the federal agency accused the crypto mixing protocol of helping the infamous North Korean Lazarus Group facilitate money laundering. This group has been linked to major crypto-related heists in the past. 

According to OFAC’s complaint, the Lazarus Group laundered nearly half a billion dollars ($455 million) using Tornado Cash’s mixing protocol. 

Following the sanctions, U.S. authorities convicted Pertsev of laundering $1.2 billion through the platform. It is worth noting that Tornado Cash users conducted these transactions.  

A panel of judges at the s-Hertogenbosch Court of Appeal subsequently sentenced him to five years and four months in jail. This sentencing took place on May 14, 2024, despite Pertsev’s plea for leniency. 

Tornado Cash Founder Still in Custody 

Now, despite the Court reversing the OFAC sanction, Pertsev is still in custody, as his case is different from the OFAC sanction. He was convicted of money laundering-related charges despite pleading not guilty during the trial. 

In his defense, Pertsev argued that he cannot be held responsible for users’ illicit activities on Tornado Cash. However, the panel of judges dismissed this defense, emphasizing that he and other founders should have put necessary measures in place to prevent illicit actors from facilitating money laundering activities through the platform. 

TORN Spikes 116% 

Meanwhile, the reversal of the OFAC sanction caused the price of TORN to spike massively. According to CoinGecko, TORN’s price soared to nearly $22 in the early hours of today, with the asset soaring by 116% in 24 hours at the time of the post.  

TORN continued its rally hours later, rising to a two-year high of $25.48 in the hours leading up to press time. Currently, TORN is trading at $21.41, with a 24-hour growth of 172.7%. Despite its surge, it is still down 95% from its all-time high (ATH) of $436.16. 

Dogecoin Looks Set for Over 500% Rally to $2.29: Analyst

Okoya David
-
0
Dogecoin Looks Set for Over 500% Rally to $2.29: Analyst

Highly followed crypto analyst Javon Marks suggests that Dogecoin (DOGE) is set for a massive rally.

As the dust appears to be settling on a turbulent month for crypto assets, market participants are again optimistic. In the latest instance highlighting this, one analyst has suggested that leading doggy-themed crypto asset Dogecoin (DOGE) is on the cusp of a massive rally.

Dogecoin (DOGE) to $2?

In a recent X post, Javon Marks contended that the meme coin could be set for a 536% rally from current prices around $0.36 to at least $2.29, as it appears to be recovering from its 46% drop from a high of $0.48, which triggered a slump to $0.26 in early December 2024.

Marks’ view is based on his analysis of the asset’s performance in previous bull markets, which he has reiterated over the past month.

DOGEUSD 2 week candle chart
DOGEUSD 2 week candle chart. Source: TradingView

Data from DOGE’s two-week candle chart shows that the meme coin has soared from the lows to at least the 1.618 Fibonacci extension level in previous bull cycles.

A key component of these bull market cycles is that the meme coin’s rally has typically occurred in two phases, punctuated by a drop similar to its recent 46% dip near the 1.0 Fibonacci, with a recovery often marking the beginning of the second phase.

Following this pattern in 2017, the asset soared from a 2015 bottom of $0.00009 to $0.00748. In 2021, it soared significantly beyond the 1.618 Fibonacci level to hit its all-time high of $0.73 from a 2020 bottom of $0.00168.

In the current market cycle, the 1.618 Fibonacci level aligns with the $2.29 price point.

The meme coin may not lack catalysts for such a move. Notably, the Elon Musk-led U.S. government initiative, the Department of Government Efficiency (DOGE), recently put it in the spotlight.

Will the 50,828 Active Addresses on Cardano Drive the Next ADA Super Cycle?

Albert Brown
-
0
Will the 50,828 Active Addresses on Cardano Drive the Next ADA Super Cycle?

Cardano (ADA) has seen a 3.05% rise in the past 24 hours amid growing network activity, with active addresses surpassing 50,800.

Despite a more than 5% decline over the past week and a 1% dip in the past 14 days, Cardano is bouncing back significantly in the last 24 hours. As of the latest data, ADA is trading at $0.9921, with an increase in daily active addresses.

This uptick typically signals strong market participation with diminishing concerns about large sell-offs.

Cardano Rising Network Activity and Price Correlation

According to on-chain data shared by analyst Ali Martinez, Cardano’s network activity remains robust. Specifically, he cited daily active addresses reaching levels above 50,800 as of January 20.

Historical trends suggest a correlation between price and network participation. Notably, between January 4 and January 8, both metrics surged. A price correction between January 9 and January 12 coincided with a drop in active addresses.

Meanwhile, both indicators rebounded from January 13 to January 19, signaling renewed market interest. Post-January 20, daily active addresses remain elevated, though they declined to around 35,000 on Tuesday.

Image
Cardano chart showing improved active address metric | Santiment

IntoTheBlock data further supports this recently observed spike in Cardano network activities. Over the past week, new addresses increased by 4.79%, indicating an influx of new users. 

Active addresses rose by 11.99%, demonstrating higher engagement with the network. However, historical patterns show that price corrections follow after peaks in daily active addresses.

Cardano Daily Active Addresses
Cardano Daily Active Addresses

Shifting Trends in ADA Ownership

Meanwhile, ownership distribution trends show retail adoption expanding while long-term holders reduce their positions. Cardano whale holdings have decreased by 1.68%, which may indicate profit-taking or strategic repositioning. 

Cardano Historical Concentration
Cardano Historical Concentration

Meanwhile, investor and retail accumulation have grown by 1.60% and 0.72%, respectively, signaling rising confidence in ADA’s prospects. Increasing retail participation often indicates long-term network sustainability, while investor accumulation suggests market optimism.

Technical Patterns and Market Outlook for ADA

Prominent market watchers like trader Peter Brandt have also recently joined the ADA conversation, with Brandt noting that the crypto may have completed its bearish phase. Brandt identified a descending triangle pattern that led to a prolonged downtrend from 2022. 

A double-bottom base formation around $0.20 in early 2023 marked a reversal, setting up a bullish trend. ADA later surpassed $1.20 in late 2024 before facing resistance. Brandt suggested that this pattern provides a foundation for future gains, hinting at a possible altcoin season. In his view, Carcano could be getting set for what he described as a grand bull market.

Billionaire Asset Manager Says XRP Could Be Ordered as the Base Layer for National Banking

Abdulkarim Abdulwahab
-
0
Billionaire Asset Manager Says XRP Could Be Ordered as the Base Layer for National Banking

Mark Yusko, the CEO of Morgan Creek Capital Management, has made a noteworthy statement regarding the potential role of XRP in the future of U.S. crypto policy.

Yusko noted that there was growing discussion that the new Donald Trump administration might expand its strategic crypto reserve beyond Bitcoin to include some like XRP, Cardano (ADA), and Hedera (HBAR).

He cited that founders of these altcoins are cultivating relationships with the Trump family, particularly with Eric Trump. Notably, Yusko expressed this perspective in a recent appearance on the Good Morning Crypto Show.

While the financial world widely recognizes Bitcoin as “digital gold,” Yusko highlighted that other cryptocurrencies such as XRP could play different roles in a broader financial ecosystem. 

“There’s some talk that XRP [XRP Ledger] could be utilized—or even mandated—as the base layer for a central bank digital currency (CBDC) or for national banking infrastructure,” Yusko noted.

Widely followed XRP influencer “Digital Asset Investor,” who also featured in the podcast, highlighted Yusko’s statement in a post on X.

XRP as US National Reserve

The speculation regarding XRP’s future role in U.S. monetary policy has been buzzing in the crypto community. It gained momentum last week after The Crypto Basic report indicated that President Trump is considering signing an executive order to create a U.S. national reserve of digital assets, focusing on cryptocurrencies developed in the U.S.

Notably, the report highlighted that Trump is “open” to such an idea. This initiative aims to strengthen America’s position in the global crypto economy by prioritizing domestic blockchain projects.

While supporters view this as a way to enhance U.S. competitiveness, critics argue it could undermine Bitcoin’s global standing. Meanwhile, Trump has had meetings with the founders and firms associated with these U.S.-based coins, likely in an effort to advance this proposal.

Ripple, in particular, has garnered more publicity for this initiative amid news of its ongoing discussions with key figures from the Trump team, including a recent meeting between CEO Brad Garlinghouse and Vice President James David Vance.

In his commentary, Yusko pointed out that he is uncertain if this move will occur within the first 100 days of the new administration. However, he noted that leveraging XRP for a CBDC project or as a foundational element in national banking systems could have profound implications for the cryptocurrency market.

“If that does happen, it changes things,” he said.

Shiba Inu Lead Reacts as Top Developer Laments Ethereum Foundation’s Lack of Communication with Developers

Lele Jima
-
0
Shiba Inu Lead Reacts as Top Developer Laments Ethereum Foundation’s Lack of Communication with Developers

Shytoshi Kusama, the Shiba Inu ecosystem lead, highlights SHIB’s achievements while reacting to complaints about Ethereum Foundation’s limited engagement with developers. 

According to a recent X post, Cygaar, a blockchain developer and Abstract Chain contributor, expressed frustration with the Ethereum Foundation for not engaging with him or any of the Abstract Chain team members despite the project’s significant contributions to the Ethereum ecosystem.

The developer noted that this communication is imperative to help both teams figure out how best to help one another. Notably, Cygaar mentioned that Abstract chose to build a Layer-2 blockchain on Ethereum to scale the network. Additionally, he mentioned that most Abstract team members started their journeys as developers through Ethereum.  

Furthermore, Cygaar highlighted Abstract’s major achievements, focusing mainly on account abstraction and consumer-friendly user experience feats. Despite the progress made, Cygaar emphasized the importance of having the Ethereum Foundation review Abstract’s work to strengthen its impact. 

He called on the new Ethereum Foundation leadership to engage more with developers building on Ethereum, adding that other teams might be facing a similar challenge of neglect.  

Ethereum Foundation Promises to Improve Communication Between L1 and L2

Interestingly, Joshua Rudolf, Head of Research and Development at Ethereum Foundation, responded, noting that he had sent a private message to Cygaar. 

According to Rudolf, there is a need for improvement in collaboration and communication between Ethereum Layer-1s and Layer-2s. 

The Ethereum Foundation exec noted that improving the communication and collaboration between L1 and L2 will be his key focus in the future. 

Shiba Inu Lead Reacts 

Meanwhile, the Shiba Inu lead reacted to Cygaar’s concern regarding the Ethereum Foundation’s lack of outreach and support. However, Kusama shared his opinion as a response to Rudolf in an effort to get his attention 

In the post, Kusama used the opportunity to highlight Shiba Inu’s key achievements. In particular, he noted that Shibarium, Shiba Inu’s Ethereum-based Layer-2 blockchain, has processed more than 800 million transactions. 

Furthermore, Kusama suggested that Shiba Inu is onboarding more users to Web3 using its full tech suite. Based on these incredible milestones, Kusama emphasized that Shiba Inu is more than a meme coin, suggesting that the cryptocurrency is a serious project with notable contributions to Ethereum and the broader crypto market. 

The development follows a similar complaint Kusama made about Ethereum co-founder Vitalik Buterin ignoring his requests for a conversation. 

Kusama’s efforts to discuss with Buterin have ended in futility, including a recent attempt when he sought the Ethereum Foundation’s support to give SHIB true global adoption. 

TRON Analysis: Is $0.30 in Sight as WLFI Buys 11M TRX?

Albert Brown
-
0
TRON Analysis: Is $0.30 in Sight as WLFI Buys 11M TRX?

With altcoins returning to a recovery track, Tron (TRX) reveals a potential breakout opportunity. Will this breakout push TRX towards the $0.30 mark?

As the total crypto market cap, excluding Bitcoin and Ethereum, surges above the $1 trillion valuation, altcoins are gaining bullish momentum. Among the top-performing tokens, Tron is emerging as a rising star.

Over the past 24 hours, TRX has increased by 4.73%, reaching the $0.25 psychological mark. Accordingly, Tron has reclaimed a market cap of $21 billion. Will the ongoing recovery rally result in a breakout to $0.30? Let’s find out.

Tron Price Analysis

On the 4-hour chart, the TRX price trend shows a local resistance trendline formed from low-rise formations. Additionally, the price trend indicates a local support trendline, completing a falling channel pattern.

Tron Price Chart
Tron Price Chart

Currently, TRX is challenging the overhead trendline with the ongoing recovery. As it inches closer to a potential falling channel breakout, Tron has posted an intraday gain of 2.90%.

On the daily chart, TRX has formed three consecutive bullish candles, signaling a rise in bullish sentiment. The RSI is nearing the overbought level, indicating strengthening bullish momentum. Furthermore, the exponential moving average lines are showing signs of a positive crossover between the 20-day and 100-day EMAs.

World Liberty Financial Adds Tron

Amid the growing bullish sentiment, Donald Trump’s World Liberty Financial has purchased 10.81 million TRX tokens. This brings World Liberty Financial’s total TRX holdings to 30.11 million tokens, worth $7.35 million.

Notably, the latest purchase of $2.65 million worth of TRX showcases the increasing support from World Liberty Financial for the DeFi token.

TRX Price Targets

Based on Fibonacci levels, if the recovery rally manages to break through the local resistance trendline, the uptrend is likely to reach the critical resistance at the 38.20% Fibonacci level, around $0.3021. On the flip side, a bearish reversal would likely retest the 50 EMA line at $0.24.

Binance Coin BNB Eyes $750 Amid Triangle Breakout Potential

Albert Brown
-
0
Binance Coin BNB Eyes $750 Amid Triangle Breakout Potential

With the broader market holding steady at key levels, Binance Coin (BNB) has reclaimed the $700 mark. Could this recovery signal the beginning of a triangle breakout rally?

As Bitcoin rebounds above key levels, the altcoin market is also experiencing a recovery rally. Among the top-performing tokens, Binance Coin shows potential for a breakout rally.

In this recent recovery, BNB has reclaimed a market capitalization of $100 billion, marking a significant turning point for the token. Will this rally push BNB to a $800 peak? Let’s find out.

Binance Coin Price Analysis

On the daily chart, BNB’s price is trending within a triangle pattern. The current recovery marks a positive phase as it bounces off the support trendline, reflecting growing confidence among traders.

Binance Coin Price Chart
Binance Coin Price Chart

Furthermore, it completes a morning star pattern near the 61.80% Fibonacci level at $674. As the recovery rally gains momentum, BNB surpassed the 50- and 20-day EMA line. Thus, the breach of these moving averages highlights a robust bullish trend.

The daily RSI line has crossed about halfway, reflecting a surge in bullish sentiments. Hence, the technical indicators are giving a buy signal for BNB coins. This alignment suggests more upside potential in the coming days.

BNB Coin Price Targets

BNB has reclaimed the $700 psychological mark with two consecutive positive candles. This milestone underpins its strength in the current market dynamics. Considering that the broader market continues to improve, BNB will likely continue its uptrend.

The immediate price resistance for BNB stands at 78.60% Fibonacci level at $708. However, the altcoin must surpass the local resistance trendline for an extended bullish rally. Breaking this resistance could set the stage for explosive growth.

In this scenario, potential price targets for BNB include $750 and $804. On the downside, crucial support is at $674.95, and a drop below this level could dampen the bullish outlook.

Bitcoin Eyes $112K as Open Interest Surges to $68B

Albert Brown
-
0
Bitcoin Eyes $112K as Open Interest Surges to $68B

Will the price of Bitcoin reach a new all-time high as speculation grows in the derivatives market, with open interest rising to $68 billion?

Bulls are preparing for a fresh rally as Bitcoin bounces back to the $105,000 level. Over the past 24 hours, the crypto market has remained divided, with $225 million in liquidations.

With $103 million in long and $122 million in short liquidations, the market stands at a crossroads despite the short-term recovery. With the potential to create a new all-time high, will Bitcoin reach the $112,000 mark soon?

Bitcoin Price Analysis

In the 4-hour chart, the BTC price trend reveals a bullish recovery from the 50-EMA line to challenge the $107,123 resistance level. However, failing to surpass the overhead supply zone, Bitcoin experienced a bearish reversal.

Bitcoin Price Chart
Bitcoin Price Chart

Currently, Bitcoin trades at a market price of $105,547 with two consecutive 4-hour bearish candles. This accounts for a pullback of 1.3%. Furthermore, the current trend also suggests the possibility of a double-top pattern if the downtrend continues.

Nevertheless, the overall recovery has influenced a positive alignment in the crucial exponential moving average lines. Additionally, the daily RSI remains above the halfway mark, reflecting strong bullish demand. 

Bitcoin Open Interest Hits $68 Billion

With the overall recovery, Bitcoin’s open interest has surged by 2.60%, reaching $68.88 billion. Furthermore, the long-to-short ratio over the past 24 hours has turned bullish at 1.0288, indicating a significant increase in bullish positions alongside the broader market recovery.

However, the funding rate has dipped to 0.0060%, down from the previous level of 0.0110%.

This suggests a minor dip in trader confidence holding bullish positions. Nevertheless, Bitcoin’s overall optimism in the derivatives segment remains strong, signaling a potential recovery in the coming days.

BTC Price Targets

As bullish speculation in the derivatives market suggests a potential recovery, the immediate resistance at $107,123 remains key. A breakout above this level could extend the recovery rally, potentially leading to a new all-time high.

Based on Fibonacci levels, the next potential price target is the 1.272 Fibonacci level at $112,056. On the other hand, crucial support is at the 78.6% Fibonacci level at $103,393.

1...989990991...2,659Page 990 of 2,659