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The world’s second-largest cryptocurrency Ethereum (ETH) continues to face strong selling pressure losing another 1.5% in the last 24 hours and slipping all the way to $2,884 levels. With this, the Ethereum price has extended its weekly losses to 8%. Source

Activity on Bitcoin’s Rune protocol has dropped significantly, with data showing it reached its lowest level on May 11. The Runes protocol has been making waves in the crypto space since its launch on April 19, coinciding with the latest Bitcoin (BTC) halving event. The protocol’s debut on April 19, which coincided with the latest Bitcoin halving, was nothing short of a blockbuster. It drove a surge in Bitcoin transaction fees, raking in a record $107 million in a single day and $135…

Ethereum price is gaining bearish momentum below $2,950. ETH might continue to move down toward the $2,550 support in the near term. Ethereum struggled to clear the $2,950 resistance and started a fresh decline. The price is trading below $2,920 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if there is a move below the $2,850…

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Bitcoin price started a fresh decline from the $62,000 resistance zone. BTC is declining and remains at a risk of more losses below the $60,000 level. Bitcoin started a fresh decline after it failed near $62,000. The price is trading below $61,000 and the 100 hourly Simple moving average. There was a break below a bearish flag pattern with support near $60,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a close…

Crypto strategist Michaël van de Poppe believes that Ethereum (ETH) is close to witnessing a big trend shift. Van de Poppe tells his 717,600 followers on the social media platform X that he doesn’t expect the U.S. Securities and Exchange Commission (SEC) to approve pending applications for spot Ethereum exchange-traded funds (ETFs) in the coming weeks. The SEC is slated to approve, delay or deny the ETH ETF applications by financial giants Hashdex and Ark 21Shares on May 30th after…

Over the last two months, Bitcoin’s on-chain activity has neared historic lows as transaction volumes have reduced noticeably. Source

Bitcoin (BTC) kicked off the new year with a robust surge, breaching the $70,000 mark and witnessing significant engagement on its blockchain network. However, recent developments indicate a cooling trend in these metrics. Over the past two months, the price of the leading digital asset has faced challenges, and on-chain activity has declined. Bitcoin On-chain Activity Plummets to 5-Year Low Data from blockchain analytics firm Santiment indicates that Bitcoin’s on-chain activity has…

Ethereum Price Analysis: Ethereum, the second-largest cryptocurrency by market cap is up $0.82 to trade at $2935 currently. This uptick signals another reversal from the support region around $2875-$2850, projecting a fourth reversal within a month. This active demand zone has prevented a prolonged correction in Ethereum and shifted the price trend sideways. How far will this consolidation continue? Source

This week, Bitcoin price exhibited significant volatility, oscillating around the crucial $60,000 psychological mark. On Sunday, the BTC price surged by 1.3%, buoyed by robust demand liquidity at the 100-day EMA, which acted as dynamic support. Despite this uptick, the short-term outlook remains bearish, characterized by a falling wedge pattern on the daily chart. The persistent pressure from the overhead trendline continues to drive the asset’s downward trajectory. Source

Most coins are about to close in the bullish zone on the last day of the week, according to CoinMarketCap. ETH/USD The rate of Ethereum (ETH) has increased by 0.75% since yesterday. Over the last week, the price has fallen by 6.85%. On the hourly chart, the price of the main altcoin is returning to the recently formed local resistance of $2,942. If buyers can hold the gained initiative, there is a possibility of a breakout followed by a move to the $2,970 zone. A less positive…

As Bitcoin (BTC) matures, proponents have maintained that the digital asset has the potential to replace fiat currencies, having already found use cases as a legal tender in El Salvador. However, Professor of Applied Economics at Johns Hopkins University, Steve Hanke, has reiterated his longstanding view on Bitcoin, noting its incapacity to take on fiat currencies or precious metals such as gold. He made these remarks during an interview with David Lin, published on May 12. Hanke…

In a surprising turn of events today, a substantial amount of Bitcoin — 1,000 BTC, valued at around $62 million — was observed being transferred from a Tron DAO account to an unfamiliar wallet identified only as "16aFk." This sizable transaction, flagged by Whale Alert, sparked intrigue within the cryptocurrency community. What adds to the mystery is the alleged involvement of Huobi, a prominent exchange platform, in the chain of transfers. Sources indicate that the unknown Bitcoin…

Yuval Noah Harari, a distinguished historian and best-selling author, recently voiced his concerns about Bitcoin at the Bank of International Settlements (BIS) Innovative Summit 2024. Consequently, Harari’s opinions received widespread criticism from the crypto community. What Did Harari Say About Bitcoin? Harari noted that while the future might lean towards electronic money, historical trust in banks and governments to manage monetary flow has fostered societal trust. He believes it…

A cryptocurrency trading expert has issued a cautionary warning to Bitcoin (BTC) investors, suggesting that a price crash might be imminent as the maiden digital asset struggles to break through the $65,000 resistance level. In a May 12 TradingView post, analyst Alan Santana highlighted signs indicating a possible downturn in Bitcoin’s price. Santana pointed to Bitcoin’s technical indicators and recent price movements as evidence supporting the likelihood of a forthcoming crash. The…

Calm Sunday morning was disrupted, when two dormant Bitcoin (BTC) wallets, untouched for over a decade, have sprung to life, shaking the cryptocurrency market with their monumental activity. According to Lookonchain's latest findings, these wallets, inactive for precisely 10.7 years, have swiftly transferred their entire holdings of 1,000 BTC, currently valued at a staggering $60.9 million, within a mere 20-minute window. The wallets in question, identified as "16vRqA" and "1DUJuH,"…

Peter Schiff recently reiterated his stance on Bitcoin, asserting that he does not own any despite widespread speculation to the contrary. Schiff's comments come amid a questionable position of digital gold on the market. Schiff has been vocal about his views on Bitcoin, often contrasting its value and utility against traditional assets like gold. His latest remarks emphasize his disbelief in the cryptocurrency's value, likening the enthusiasm around it to being "drunk on the…

Michael van de Poppe, a noted cryptocurrency expert, recently warned that Bitcoin price could fall to the $52,000 to $55,000 range if it fails to hold its current level of around $60,000. Currently, Bitcoin (BTC) exhibits a bearish trend, with its price at $60,812 after a 1.59% decline. Source

David Marcus, former President of PayPal and ex-Vice President of Messaging Products at Facebook, has recently projected that the Bitcoin Lightning Network will evolve to be the world’s most utilized payment network. Representing his team at Lightspark, Marcus highlighted the shifting paradigms toward cryptocurrency adoption in mainstream finance. Source