Blockchain

In a recent report released by Matrixport, a digital assets financial services platform, the spotlight shifts beyond Bitcoin (BTC) as the eagerly anticipated approval of a Bitcoin spot Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission (SEC) could have far-reaching effects. 

According to the analysis, not only could the Bitcoin market experience a significant boost, but Tether (USDT) and the broader crypto market could also see positive outcomes.

Potential Impact On Bitcoin

Matrixport’s foresight, outlined in their 2023 outlook report published on December 9, 2022, projected a substantial crypto rally driven by factors such as lower US inflation and favorable macroeconomic conditions. 

This projection anticipated strong rebounds for Bitcoin and Ethereum (ETH), along with a notable decrease in volatility.

Surrounding the approval of these pending applications, a standout performer in the market has been Grayscale Investments’ Bitcoin Trust (GBTC), with its share prices surging by an impressive 167% year-to-date, outpacing Bitcoin’s 71% growth. 

While GBTC’s net-asset-value (NAV) discount marginally narrowed from -45% to -43% at the beginning of the year, the game-changing moment arrived when BlackRock announced its ETF application on June 15, 2023.

Matrixport’s earlier reports analyzed the US registered investor advisor (RIA) community, comprising approximately 15,000 advisors overseeing around $5 trillion. 

Recognizing the potential of this group, the report suggests that even a modest 1% allocation recommendation for Bitcoin would result in approximately $50 billion in inflows. 

$56,000 BTC Price Projection

Drawing a parallel with precious metals ETFs boasting an estimated $120 billion in market capitalization, and assuming that between 10-20% of precious metal ETF investors explore a Bitcoin ETF as a diversification tactic against monetary debasement and inflation hedges, the potential influx into the Bitcoin ETF could reach a significant $12-24 billion.

The report speculates on the implications for Tether’s market capitalization by looking at the potential impact of BlackRock’s Bitcoin ETF approval. 

Acting as a proxy for potential ETF inflows, a $24 billion increase in Tether’s market cap could conservatively push Bitcoin’s price to $42,000. With an even larger influx of $50 billion resulting from a 1% allocation by RIAs, Bitcoin could rally to $56,000.

Overall, Matrixport’s analysis sheds light on the potential ripple effects of Bitcoin ETF approval, extending beyond Bitcoin’s immediate market and encompassing Tether and the wider cryptocurrency landscape.

As market participants eagerly await regulatory decisions, the industry remains poised for potential growth and transformation.

As of the time of writing, the leading cryptocurrency in the market, Bitcoin (BTC), is trading at $28,700, reflecting a 1.8% increase over the past 24 hours.

It is worth noting that BTC has successfully maintained the gains it has made since mid-September. During this period, the cryptocurrency broke its short-term downtrend structure after reaching its peak for the year at $31,800 on July 13.

Featured image from Shutterstock, chart from TradingView.com 

An analyst has explained using on-chain data that Bitcoin has a major demand bucket at the current price levels, so it won’t hit $20,000 anytime soon.

Huge Bitcoin Buying Occurred Inside The $25,000 To $30,000 Range

In a new post on X, analyst Ali has explained that some large entities accumulated at the $25,000 to $30,000 range. The indicator of interest here is the “UTXO Realized Price Distribution” (URPD), which, in short, tells us about the amount of Bitcoin that was acquired at the different price levels of the cryptocurrency.

Here is a chart that shows how the URPD of the current Bitcoin market looks like:

Notice that the URPD here is “ATH-partitioned.” What this means is that the price ranges here have been defined by creating 100 equally spaced partitions between zero and the all-time high (ATH) of the cryptocurrency.

From the graph of the Bitcoin URPD, it’s visible that the price levels between $25,000 and $30,000 are host to the cost basis of a particularly large amount of the supply.

Ali notes that most people, including major institutional investors like Michael Saylor’s Microstrategy and Elon Musk’s Tesla, purchased a significant number of coins between these levels.

The levels being so dense with supply isn’t only significant because of the fact that these large entities believe those prices were worthy buys, but also due to how investor psychology tends to work out.

Generally, whenever the price retests the cost basis of a holder, they may become more probable to show some reaction. How they would react depends on their sentiment and profit/loss status prior to the retest.

If they had been i9n profits before the price declined towards their cost basis, they may believe the price would go up again in the future so they would accumulate more at the dip.

On the other hand, them being at loss before may make them sell at their cost basis, as they would find the idea of breaking-even more enticing than potentially going back into losses.

There are some dense price buckets above the current level, meaning that BTC could feel resistance when it would retest them due to such investors exiting at their break-even.

If Bitcoin declines instead, however, it could feel strong support, as the buckets below are zones of some pretty major demand, so at least some of these investors might be inclined to buy more at these same levels. Thus, a decline below this range could be unlikely for the cryptocurrency.

“So when they tell you “It’s too late to buy BTC” or “Wait for $20k,” please ignore them!”, advises the analyst.

BTC Price

Bitcoin is up almost 7% during the past week, but the coin’s surge has slowed down recently as its price has mostly been consolidating around $28,500.

Ethereum has long been the target of criticism from die-hard Bitcoin maximalists who believe that Bitcoin is the only worthwhile cryptocurrency despite the fact that Ethereum holds the second-highest percentage of the entire cryptocurrency market value. 

Now, another Bitcoin maximalist, Steve Barbour, has referred to the leading platform for smart contracts as garbage. 

Bitcoin Maximalist Makes Controversial Claim About Ethereum

In a social media post on X, the prominent Bitcoin enthusiast recently called Ethereum “garbage” and said it has no future. His argument essentially boils down to Ethereum failing to attract investors from the free market and nothing else. 

Ethereum is garbage. The free market doesn’t want it and the captured market still can’t figure out what it is for.

— Steve Barbour (@SGBarbour) October 16, 2023

Barbour is the founder of Upstream Data, a mining infrastructure company building off-grid Bitcoin mining rigs. His claim comes behind the heels of Ethereum staking rewards falling to new lows. 

The number of Ethereum in staking pools has been steadily growing over the past few months; however, this has not been accompanied by increased profitability. According to CoinGecko, liquid staking protocols accounted for 43.7% of the total 26.4 million ETH staked in August 2023. 

The annual percentage yield (APY) from ETH staking has decreased over the years, going from 18% in 2020 to 3% in October. Since 2022, these protocols have paid out 100,000 ETH in quarterly incentives for staking, but the low APY has led many investors to question if staking ETH is still worthwhile.

Barbour and other Bitcoin maximalists claim that Ethereum is not as decentralized as Bitcoin, particularly given that the blockchain has recently moved from proof-of-work to a proof-of-stake consensus process. 

Most of them believe that Bitcoin is the sole “true” cryptocurrency and that all other cryptocurrencies are worthless. Bitcoin maximalists have also been critical of other cryptocurrencies apart from Ethereum. Max Kaiser, another strong supporter of Bitcoin, has lately asserted that XRP is centralized.

Responses And Reactions

Ethereum has proven itself to be more than garbage, as evident in its vast number of supporters and large ecosystem. However, some supporters of Bitcoin agreed with the maximalist.

Agreed. It’s full of speculators

— Carnival_Poe (@Carnival_Poe) October 17, 2023

The free market has Ethereum now at $1,550. ETH has witnessed a 1.65% drop in price in the past 24 hours, and it continues to stay weaker against Bitcoin. 

On the other hand, Bitcoin has increased in dominance against altcoins. Most of the money and attention has flowed into Bitcoin, and the crypto has witnessed a 6.39% increase in the past seven days. 

As a result, ETH bulls have struggled to push above $1,600 and the crypto is now trading around the $1,550 support zone. If bulls fail to hold this level, it could start another decline to as low as $1,430.

Data shows a divergence is forming between Bitcoin and Ethereum’s open interest, something that has been bullish for BTC in the past.

Bitcoin Open Interest Has Declined, While Ethereum Has Seen Rise

According to data from the on-chain analytics firm Santiment, the BTC open interest has been going down since Monday. The “open interest” here refers to the total amount of Bitcoin contracts (in USD) that are currently open on the futures and options market.

When the value of this metric increases, it means that there are more positions being opened up on derivative exchanges right now. Such a trend can lead to increased volatility for the asset, as more positions generally come with higher overall leverage for the sector.

On the other hand, decreasing values suggest the traders are either closing off their positions or are getting liquidated. The cryptocurrency may become calmer following this kind of trend.

Now, here is a chart that shows the trend in the open interest for Bitcoin and Ethereum over the past month:

As displayed in the above graph, The Bitcoin open interest has observed a downtrend in the last few days. This decline in the indicator had first started when the fake iShares ETF announcement led to more than $100 million shorts being flushed in a flash.

The metric saw a bit of a rebound not too long after this sudden sharp liquidation squeeze took place, but it was quick to return back toward a downward trajectory.

At the same time that this latest decline in the Bitcoin open interest has occurred, the Ethereum open interest has registered a rise instead. This suggests that while contracts are closing up on BTC futures and options, the ETH side of the market is seeing renewed interest.

Interestingly, as Santiment has highlighted in the chart, the last time this trend occurred, the Bitcoin price benefited from an uplift. This previous occurrence of the pattern was between September 28 and 30, and shortly after this, the BTC price saw an increase of about 4.5%.

The divergence between the metrics of the two assets was much more pronounced back then as compared to now; however, the scales of both the decline in the BTC open interest and the rise in the ETH open interest were far greater.

Nonetheless, the same general pattern has still repeated this time, so it now remains to be seen whether Bitcoin would see a bullish effect this time as well, and if so, to what degree, given the lesser scale of the divergence.

BTC Price

Bitcoin has gone stale during the last few days as its price is still trading around the $28,400 mark right now.

Ether (ETH), the second-largest cryptocurrency by market capitalization, has been on a downward trajectory for the past three months. Despite a brief fake-out rally, ETH has struggled to regain its footing in the crypto market.

The recent rally, though short-lived, has brought about interesting developments in the derivatives market. While Bitcoin’s open interest (OI) witnessed a significant drop, Ethereum saw an increase in its OI.

Open interest, often abbreviated as OI, is a crucial metric in the world of cryptocurrency derivatives. It represents the total value of outstanding contracts in the market. In simpler terms, it measures the amount of money traders have invested in futures or options contracts for a specific cryptocurrency.

ETH’s OI Garners More Interest

As of October, the crypto derivatives market has depicted an intriguing scenario. Bitcoin’s OI has been hovering around $6 billion, while Ethereum’s stands at $2.8 billion. Although ETH has not surpassed BTC in terms of open interest, it has certainly garnered more attention and interest.

A recent fake rally in Bitcoin’s price, triggered by false reports of an approved spot Bitcoin ETF, had a substantial impact on the cryptocurrency market. Bitcoin’s Open Interest (OI) declined by more than $270 million, decreasing to $5.7 billion as investors reacted to the misleading information.

On the other hand, Ethereum’s OI increased by over $93 million, reaching $2.8 billion during the same period, highlighting its resilience in the face of market volatility.

These events underscore the cryptocurrency market’s sensitivity to news and rumors, emphasizing the importance of accurate information in this space.

Furthermore, the contrasting trajectories of Bitcoin and Ethereum’s OI showcase Ethereum’s ability to attract renewed investor interest and maintain stability, solidifying its position as a prominent and enduring cryptocurrency in the market.

Potential Price Impact And ETH Current Status

At the time of writing, the CoinGecko price for Ethereum is $1,548. It’s noteworthy that ETH has experienced a 1.9% dip in the past 24 hours and a 0.6% loss over the past week.

Analyzing the daily price chart, Ethereum’s price action is characterized by a rising wedge formation. This formation serves as a key determinant of ETH’s short-term trajectory.

As long as the trendlines defining this pattern remain intact, there’s potential for the coin to serve as a dynamic support zone for buyers during market corrections.

However, a more pessimistic scenario looms in the event of a breakdown below the lower boundary of this wedge, which could signal the onset of a major correction for Ethereum.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from

Amid the struggles in the cryptocurrency market, recent reports have suggested that the world’s largest asset manager Blackrock, and financial giant JPMorgan might spark a massive bull run for the XRP price as they work simultaneously.

Blackrock, JPMorgan Move Might Affect XRP Price

According to the report, Forbes Senior Contributor, Billy Bambrough, highlighted that Blackrock and JPMorgan are purportedly laying the foundation for an impending surge in the cryptocurrency sector. The report further identified several collaborative cryptocurrency moves taken by the two financial powerhouse firms.

Bambrough pointed out a recent report that claims that the asset manager recently utilized JPMorgan’s Ethereum-based Onyx network and tokenized collateral service. 

Blackrock reportedly used the network to tokenize shares from one of its financial market funds, which was later transferred to the London-based Barclays in an over-the-counter (OTC) derivatives trade.

Over-the-counter (OTC) derivative operations occur between two parties. However,  the specifics of the order quantity, cost, and other information of Blockrock’s transactions with Barclays remain concealed from the public.

Following the report by Bambrough, it was revealed that Blackrock became the first Wall Street giant to make use of JPMorgan’s blockchain-based collateral settlement system. This was part of a move that Blackrock’s Chief Executive Officer Larry Fink, has stated will pave the way for the “next generation for markets.”

The Blackrock CEO’s previous statement in an annual letter to shareholders where he emphasized blockchain technology as “very important” in the past year was also mentioned in the report. Fink highlighted the role that blockchain technology plays in their financial operations.

Blockchain technology enables traditional assets to be “tokenized” on a public ledger, potentially simplifying and lowering the cost of transferring anything from stocks and bonds to real estate and alternative investments like art.

Due to this, Billy Bambrough believes that there will be a significant increase in the price of digital assets such as XRP, Bitcoin (BTC), and Ethereum (ETH) as a result of BlackRock and JPMorgan entering the cryptocurrency industry, considering their connections to the traditional market. In addition, Ripple is also aiming to establish the XRP Ledger as a crucial platform for the tokenization of real-world assets.

BlackRock using XRP would not doubt have an immense impact on the XRP price. An example of the kind of rally it could trigger is what happened back in June with Bitcoin when the asset manager announced it had filed for a Spot Bitcoin ETF.

Significance Of Blackrock’s Transaction Via JPMorgan Blockchain

So far, Blackrock’s partnering with JPMorgan marks a new milestone for the financial firm. Blackrock’s recent transaction via JPMorgan’s blockchain indicates a crucial contribution to the volume of the Ethereum-based network Onyx.

Additionally, the operation could unveil a new world of possibilities for established financial institutions which enables them to free up capital and boost efficiency across separate markets, as a spokesman from JPMorgan told Bloomberg.

JPMorgan’s Head of Trading Service Ed Bond, also stated that “institutions on the network can use a wider scope of assets to meet any collateral requirements they have on the back of trading.”

Solana (SOL) has been navigating a challenging correction phase for approximately two months, during which its fortunes have ebbed and flowed. The most recent dip, occurring on Aug. 15, was a direct response to a sudden decline in the price of Bitcoin, sending shockwaves throughout the crypto market. However, a closer examination of Solana’s price chart reveals an emerging inverse head and shoulders pattern.

For those unfamiliar with the inverse head and shoulders pattern, it is a technical chart formation that signals a potential trend reversal. It consists of three key components: a lower low (the head) with two higher lows on either side (the shoulders), forming an inverted “T” shape. This pattern typically signifies a shift from a bearish trend to a bullish one, making it an enticing prospect for investors.

Solana appears to be sketching out this intriguing configuration, hinting at the possibility of a significant upswing in its price. However, the realization of this bullish scenario hinges significantly on SOL’s ability to breach a crucial resistance point known as the neckline.

Solana’s Potential Trajectory

As of the latest data available on CoinGecko, Solana (SOL) is currently trading at $23.79. Over the past 24 hours, the cryptocurrency experienced a slight dip of 0.6%, while it boasted a seven-day rally of 9.9%. These fluctuations reflect the ongoing battle between buyers and sellers, each vying for control of SOL’s price trajectory.

SOL: From Support To Vulnerability

Solana has come a long way from its support level at $22.38, offering sellers an opportunity to exert pressure on the cryptocurrency. If the selling pressure persists, price predictions indicate that SOL could drop another 12%, potentially reaching a price of $18.8. The market’s vulnerability underscores the need for a cautious approach, both for existing investors and potential buyers.

A closer examination of the daily timeframe chart reveals a distinct downward trend characterizing the ongoing correction phase of the cryptocurrency. Sellers are likely to continue exploiting any resistance points during bullish bounces, making it essential for investors to exercise caution.

As the market continues on its downward trajectory, potential buyers are advised to exercise patience. The best strategy might be to wait until the neckline resistance is breached, signaling a change in trend. Timing remains paramount, and investors should be prepared to act when the conditions are right.

Solana’s journey through the correction phase has been a rollercoaster ride for investors. In the midst of ongoing market fluctuations, staying informed and cautious is essential for both existing and potential investors in SOL.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from PYMNTS

Following recent geopolitical events, the correlation between gold and Bitcoin prices has once again come under scrutiny by market analysts. Here’s a comprehensive dive into the relationship and its implications.

The Gold And Bitcoin Correlation

After the recent Israel-Hamas war, gold experienced a rapid uptick in its price. This shift interestingly mirrored movements in the Bitcoin market, emphasizing a revived correlation between the two assets. Skew, a reputable market analyst, shared his insights on X (formerly Twitter), noting on October 11 that “correlation has been rather loosely applicable to BTC periods of 35 days + where there’s price disconnection between both markets.”

However, only days later, on October 16, he observed a potential “re-correlation” as both Bitcoin followed the latest gold rally. Today, the statement stands stronger with Skew’s latest tweet, “BTC & gold correlation still there it seems. Gold may lead the next big move for BTC.”

In his recent insights shared in the Onramp Weekly Roundup, Bitcoin analyst Dylan LeClair emphasized the implications of the ongoing selloff in government bonds. Rising costs for long-term financing directly influence the global cost of capital, offering a valuation yardstick for various assets.

More significantly, the treasury market underpins the global financial ecosystem. Its current instability could pressure asset prices and exacerbate the pre-existing debt cycle, potentially endangering the US’s fiscal position. This precarious state contrasts sharply with the US administration’s fiscal actions, as evidenced by plans like the “WHITE HOUSE EYES $100 BILLION UKRAINE, ISRAEL AND BORDER ASK”, suggesting a lack of fiscal restraint, according to LeClair.

Gold, Real Yields, And The Changing Landscape

Further complicating matters, Bill Dudley, former president of the Federal Reserve Bank of New York, in his recent Bloomberg piece, noted the likelihood of the current cycle of quantitative tightening (QT) persisting until late 2025. This prolonged QT could heighten long-term interest rates and risk treasury market turbulence. Yet, should severe dysfunction manifest in the treasury market, the Federal Reserve might reconsider its QT trajectory.

Interestingly, post the Russia-Ukraine conflict and the subsequent confiscation of Russia’s G7 reserves, gold, and real yields have shown an atypical positive correlation, challenging their historical negative relationship.

In this evolving geopolitical landscape where even G7 sovereign debt isn’t immune to confiscation, traditional ‘safe assets’ are being reevaluated.  This uncertainty combined with the not-so-safe “risk free” yield from treasuries has bolstered gold’s position (and price) as a counter-risk monetary asset and may push Bitcoin on a similar trajectory.

According to LeClair:

This repositioning, however, isn’t limited to gold alone. Bitcoin, with its unique advantages and growing liquidity profile, is on a similar trajectory, albeit still in the very early stages of its monetization with a $500b market cap.

The Best BTC Price Indicator?

Under these current conditions, the price of gold may be a leading indicator for the price of Bitcoin, assuming that the correlation between the two assets continues. This would imply that Bitcoin is classified as a “safe haven” asset like gold by a majority of investors, rather than a “risk asset”.

However, this view is not shared by all. James Butterfill, the head of research at CoinShares, pointed out that the Bitcoin market has shifted its focus after the fake news regarding a spot Bitcoin ETF approval. He remarked that investors now seem to prioritize the ETF approval over macro expectations, placing less emphasis on the Federal Reserve’s actions.

Since the Coin Telegraph tweet mistake on a Bitcoin Spot ETF approval, Bitcoin prices have decoupled from December interest rate expectations – it seems like investors are solely focussed on the ETF approval now, and not what the FED does.

At press time, Bitcoin traded at $28,450.

The trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried (SBF), continued on October 18 with the direct examination of the prosecution’s expert witness, Peter Easton, an Accounting Professor who works at the University of Notre Dame. 

Expert Testimony Shows Customers’ Funds Were Stolen

According to a report by Bloomberg, Easton explained that $9 billion in customers’ funds had already gone missing since June 2022, five months before FTX filed for bankruptcy. He specifically alluded to the customers’ deposits, which were made into Alameda Research’s bank accounts. 

Having laid a foundation that Bankman-Fried stole FTX’s customers’ funds through Alameda, the next step in the prosecution’s case was to show that these funds were indeed stolen, and that was the role of Easton, who has an expertise in “penetrating the details of financial statements.” 

He stated that based on deposits made by customers, Alameda was meant to have held $11.3 billion in FTX customers’ funds, but only $2.3 billion was actually in the trading firm’s bank accounts. According to him, these funds were ultimately used for several purposes.

What The Stolen FTX Funds Were Used For

Easton further provided details as to where some of these funds went. He alleged that some of these funds were used to invest in companies like Anthony Scaramucci’s SkyBridge Capital, Lily Zhang’s Modulo Capital, Robinhood, Dave and Anthropic. 

Specifically, he stated that the investment in Modulo was 100% from customers’ funds, with him being able to trace the transaction from FTX’s database.

While giving her testimony, Alameda’s ex-CEO, Caroline Ellison, also revealed that Alameda, with SBF’s permission, used FTX’s customers’ funds to repay its lenders. Easton corroborated this statement as he mentioned that some of the missing funds were used to repay lenders like Celsius, Abra, Maple, and Anchorage. 

His testimony didn’t stop there, though, as, according to him, some of the funds were also used to fund political campaigns, charity foundations, and real estate purchases. Part of these political contributions included the $1 million that FTX’s Director of Engineering Nishad Singh had donated to Mind The Gap (MTG), a Political Action Committee (PAC) that SBF’s mum Barbara Fried co-founded. 

Additionally, $96 million of these customers’ funds is said to have been spent on real estate purchases, of which a property owned by SBF’s parents happens to be among them, going by the evidence tendered by the prosecution. 

The professor mentioned that all these discoveries were made following his analysis of Alameda’s statements, information from the FTX database, documents from lenders, and on-chain data.

Dogecoin (DOGE) has found itself in a precarious position, with its price being squeezed into a narrow range, hinting at a potential decisive breakout in the near future.

Market analysts closely monitor the crypto’s struggle to breach a longstanding resistance trendline, as an upside breakout could trigger a fresh rally, while a continuation of the current stalemate may lead to a further decline.

Earlier this week, DOGE encountered its fifth rejection from a persistent resistance trendline that has thwarted its upward momentum. The rejection left its mark on the daily candlestick chart, characterized by a prominent high wick, indicative of aggressive overhead supply.

Historical data reveals that such patterns often precede significant corrections in the cryptocurrency market.

The current price of DOGE, according to CoinGecko, stands at $0.058295, with a 24-hour dip of 1.5% and a minor seven-day loss of 0.1%. 

In the event that the prevailing selling pressure continues, there is a high probability that the value of the coin will see a further decline of approximately 4-5%. This decline may potentially lead to a reevaluation of the annual support trendline, with a projected value of approximately $0.055.

Presently, the price of this memecoin is situated inside the confines of two prominent trendlines, indicating an impending occurrence of either a definitive upward surge or a downward decline.

Dogecoin: Glimpse Of Hope Amidst Mixed Data

Despite the gloomy price outlook, there is a glimmer of hope for DOGE enthusiasts. The report also predicts that if the coin manages to sustain a breakout above the resistance trendline, investors could witness a sharp 16.8% surge, targeting the $0.068 level. This possibility is poised to keep traders and investors on the edge of their seats.

On the other hand, data from IntoTheBlock reveals some intriguing insights into DOGE’s current state. It’s been found that a significant portion of DOGE addresses, specifically 61%, are currently at a loss.

A deeper dive into the data exposes the fact that only 31% of the total DOGE holders are in profit, highlighting the challenging landscape for DOGE investors. An additional 10% of holders remain in a neutral position, while a substantial 59% of Dogecoin holders find themselves in a losing position.

DOGE’s Silver Lining

One silver lining in this scenario is the fact that 72% of DOGE holders have maintained their positions for over a year, signifying a strong commitment to the digital asset. A further 26% of holders have held DOGE for a duration ranging from one month to 12 months, while 2% of holders have relatively shorter-term positions, spanning less than a month.

As the Dogecoin community eagerly awaits the impending breakout or breakdown, the cryptocurrency market remains a dynamic and uncertain space, where opportunities and risks are constantly shifting.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from MarketWatch