Ethereum extended losses below the $1,200 support against the US Dollar. ETH is consolidating and might even test the $1,000 support zone in the near term. Ethereum started a major decline below the $1,320 and $1,250 levels. The price is now trading below $1,250 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair is recovering, but… Source link

Source: Unsplash The US government now holds more than 214,000 bitcoin (BTC), making up over 1% of the total capped bitcoin supply. The new milestone was reached after a government announcement on Monday said it had seized more than 50,000 BTC associated with the illegal online marketplace Silk Road. According to Monday’s announcement from the US Department of Justice, 50,676.17 BTC were seized from a Silk Road thief. The latest… Source link

“This is another one of those catalysts,” said Bob Iaccino, Path Trading Partners co-founder and chief market strategist. “I wouldn’t be surprised if bitcoin went as low as $9,000, which for me, as someone who got out of bitcoin and is waiting to get in again, would actually be a positive.” Source link

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On-chain data shows Bitcoin whales with more than 1k BTC were the main sellers in the latest crash, as other cohorts displayed muted activity. Bitcoin Spent Output Value Bands Shows Spike From 1k-10k Group As pointed out by an analyst in a CryptoQuant post, unlike in the previous declines, the 10-100 BTC and 100-1k BTC cohorts didn’t show any spikes in activity during the latest crash. The relevant indicator here is the “Spent Output Value Bands” (SOVB)…. Source link

Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment. Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of its agreement to acquire the beleaguered exchange. Crypto market performance. Source: Coin360 Another factor having a potential impact on the market is a wave of successive liquidations in… Source link

Litecoin (LTC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the Digital Money has fallen 21.32% to $53.59. InvestorsObserver is giving Litecoin a 25 Volatility Rank. Find out what this means to you and get the rest of the rankings on Litecoin! Moderately Volatile InvestorsObserver gives Litecoin a moderate volatility rank of 25, placing it in the bottom 25% of… Source link

Bitcoin’s (BTC) push to exit the bear market suffered a blow after the crypto sector was hit with a high-profile liquidity crisis affecting the FTX exchange. Consequently, the flagship cryptocurrency has corrected almost to a two-year low, with bulls appearing helpless.  In this line, Kitco News analysts Jim Wyckoff on November 9 suggested that bears have a technical advantage translating to a possible sustained Bitcoin price correction.  According to Wyckoff, the FTX crisis has… Source link

Although there is still much to learn about this new technology, cryptocurrencies have recently attracted attention on a global scale. Concerns have been raised regarding how this technology might alter conventional banking practices. Cryptocurrencies are anticipated to change how people view blockchain technology and to make digital assets more widely accessible. This objective is nearing completion as more cryptocurrency initiatives are being launched every day. Two… Source link

The big story around Ethereum (ETH -19.98%) this year was The Merge — the moment when Ethereum transformed into a proof-of-stake blockchain with faster transaction processing speeds, huge new energy efficiencies, and higher throughput capacity. However, big price gains for Ethereum never materialized. Sure, there was a brief burst in price over the summer when investors piled into Ethereum ahead of The Merge, but Ethereum is still down nearly 60% for the year. But there is a chance that… Source link