Bitcoin Nears $98K as Eric Trump Encourages BTC Investment
Bitcoin's price is approaching $98,000, driven in part by Eric Trump's public endorsement of the cryptocurrency. He has encouraged investors to consider Bitcoin as a valuable asset, contributing to its recent surge. This endorsement has sparked discussions about the influence of public figures on cryptocurrency markets. Analysts are monitoring whether this momentum will sustain or lead to increased market volatility. (CoinDesk)
Cardano (ADA) Price Falls 25% in a Week Amid Persistent Bearish Signals
Over the past week, Cardano's ADA token has experienced a significant decline, dropping over 25% and reducing its market capitalization to $26 billion. Trading volume also decreased by 35% in the past 24 hours, indicating reduced market activity. The Average Directional Index (ADX) surged to 41.6, reflecting a strong downtrend, though its intensity has slightly weakened recently. Notably, the number of whale addresses holding between 1,000,000 and 10,000,000 ADA has remained stable for the past three weeks, suggesting that large holders are awaiting clearer market signals before making significant moves. (BeInCrypto)
MicroStrategy Ends Weekly Bitcoin Buying Streak
MicroStrategy has concluded its streak of weekly Bitcoin purchases, a strategy it had maintained to accumulate the cryptocurrency. The company has not disclosed specific reasons for this pause, leading to speculation about its future investment plans. This development marks a shift in MicroStrategy's aggressive Bitcoin acquisition approach. Investors are keen to understand the implications for the company's financial strategy and the broader market. (The Block)
Bitcoin Worth $1.6B Leaves Exchanges Amid Investor Confidence
A significant amount of Bitcoin, valued at approximately $1.6 billion, has been withdrawn from major exchanges. This trend suggests that investors are increasingly moving their holdings to private wallets, indicating growing confidence in Bitcoin's long-term value. Such movements are often interpreted as a bullish signal, reflecting a preference for holding over trading. Market observers are assessing how this shift might impact liquidity and price stability. (Yahoo Finance)
U.S. Ether ETFs Hit Record Inflows
Ether-based Exchange-Traded Funds (ETFs) in the United States have reported record inflows, signaling heightened investor interest. This surge suggests that investors are seeking exposure to Ethereum's growth through regulated financial products. The trend underscores the increasing mainstream acceptance of Ethereum as a valuable asset class. Analysts anticipate that continued inflows could further drive Ether's market value. (Yahoo Finance)
El Salvador Buys the Bitcoin Dip
El Salvador has capitalized on the recent dip in Bitcoin's price by purchasing additional units to bolster its national holdings. This move aligns with the country's ongoing strategy to integrate Bitcoin into its economy. Officials believe that acquiring Bitcoin at lower prices will yield long-term benefits. The international community continues to watch El Salvador's cryptocurrency experiment with keen interest. (Decrypt)
Gaming Tokens Hit in Trump Tariffs Fallout After Deadrop Shutdown
Gaming-related cryptocurrencies have experienced significant declines following the announcement of new tariffs by the Trump administration and the subsequent shutdown of the game Deadrop. Tokens such as IMX, SAND, and GALA saw notable price drops, reflecting investor concerns over the sector's stability. The closure of Deadrop, a highly anticipated game, has added to the negative sentiment. Market participants are reassessing the prospects of gaming tokens amid these developments. (Blockworks)
XRP Ledger Experiences Temporary Halt
The XRP Ledger faced an unexpected halt in operations, causing a temporary suspension of transactions. Developers are investigating the root cause of this disruption to prevent future occurrences. The incident has raised concerns about the resilience and reliability of blockchain networks. Stakeholders are awaiting a detailed report to understand the implications for XRP's ecosystem. (The Block)
Dogecoin (DOGE) Price Struggles Amid Declining Trading Volume
Dogecoin's price has remained below $0.33, experiencing a 2% decrease over the past 24 hours. Trading volume has also declined by 36%, indicating waning market momentum. Technical indicators, such as the Ichimoku Cloud and Exponential Moving Averages (EMAs), suggest a bearish outlook, with DOGE facing challenges in surpassing key resistance levels. Despite these hurdles, the BBTrend indicator shows signs of improvement, hinting that bearish momentum may be diminishing, though downside risks persist. (BeInCrypto)
Publicly Traded Firm Acquires 1 Million Dogecoin to Augment Bitcoin Reserve
Canadian firm Neptune Digital Assets has expanded its cryptocurrency portfolio by purchasing 1 million Dogecoin, complementing its existing Bitcoin reserves. This strategic acquisition reflects the firm's confidence in the potential appreciation of Dogecoin alongside Bitcoin. The decision highlights the growing acceptance of diverse cryptocurrencies in corporate treasury management. Investors are observing how this diversification might influence the firm's financial performance. (Decrypt)
