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Cryptocurrency market gearing up for the potential bull run. All eyes are on Bitgert, Reef Coin, and Dogwifhat. While each of these projects has its own unique features and community, Bitgert’s upcoming major announcement could have a significant impact on the broader market. It will potentially influence the prices of these three cryptocurrencies. Let’s dive into how Reef Coin, Dogwifhat, and Bitgert stack up against each other and what we can expect from their future price movements.

Bitgert: A Strong Foundation with Big News on the Horizon

Bitgert ($BRISE) stands out as the most promising project. Bitgert has built a Layer-1 blockchain that offers high transaction speeds (100,000 TPS) and near-zero gas fees. These make Bitgert an attractive platform for developers and users alike. Bitgert eco includes a range of decentralized products, from Bitgert Swap to Paybrise, offering real-world use cases that set Bitgert apart from more speculative coins like Dogwifhat.

The excitement around Bitgert is largely due to the upcoming major announcement that many believe could significantly impact Bitgert’s price and market position.

Reef Coin: DeFi’s Rising Star

Reef Coin is a DeFi-focused project that aims to simplify access to decentralized financial products and services. Reef provides users with a smart liquidity aggregator and yield farming platform, offering better returns for liquidity providers. Reef’s focuses on making DeFi more accessible and scalable. Reef Coin has gained traction among developers and users looking for easy entry points into the DeFi eco.

However, despite its innovations, Reef Coin’s price has struggled to gain significant momentum recently. The market has been somewhat cautious, and Reef Coin’s growth has been relatively slow. With Bitgert**’s major news** coming soon, Reef Coin could experience some spillover effects.

Dogwifhat: The Meme Coin with Hype but Little Substance

Dogwifhat is a meme coin that has attracted a lot of attention due to its community-driven nature and viral marketing. Dogwifhat relies heavily on social media buzz and community enthusiasm to drive Dogwifhat price movements. While it has seen price spikes in the past, Dogwifhat’s value has remained volatile. Many investors view Dogwifhat as a short-term play rather than a long-term investment.

The lack of substantial real-world utility behind Dogwifhat makes it highly susceptible to market hype and trends. As a result, Dogwifhat’s often more vulnerable to price fluctuations compared to projects with stronger fundamentals like Bitgert.

How Bitgert’s News Could Impact Reef Coin and Dogwifhat

With Bitgert’s announcement, there’s potential for a broader market impact that could influence the prices of Reef Coin and Dogwifhat as well. If Bitgert’s news generates renewed interest in the crypto market, we could see more liquidity flowing into smaller projects like Reef Coin.

As for Dogwifhat, the news could lead to some temporary price action, driven by overall market enthusiasm. However, without a strong utility or technological foundation, Dogwifhat might struggle to maintain long-term price gains.

Grab your own $BRISE token at Gate.io, KuCoin, MEXC, and Pancakeswap!

Step 1: Register on the exchange

Step 2: Choose your payment method

Step 3: Buy $BRISE

For more info, visit bitgert.com.

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

The cryptocurrency market is buzzing with excitement as Bitgert is gearing up for a significant announcement that could change the dynamics for various coins. PAAL AI and PeiPei Coin. Each of these projects has its own unique focus. The spotlight is on Bitgert, whose innovative technology and strong eco are positioning it as a leader in the crypto world. As investors eagerly await Bitgert’s big reveal, we’ll explore how this could impact PAAL AI, PeiPei Coin, and Bitgert itself.

Bitgert:

Bitgert has established itself as one of the most promising Layer-1 blockchains in the crypto space. Butgert offers a high transaction speed of 100,000 TPS and near-zero gas fees. Bitgert growing eco includes decentralized finance (DeFi) products, NFTs, and blockchain services, making it a well-rounded project for developers and users alike.

With the anticipation of a major announcement, investors are watching Bitgert closely. They are expecting the news to drive the price of $BRISE higher and solidify Bitgert position in the market.

PAAL AI

PAAL AI is a unique project that aims to bring the power of artificial intelligence (AI) to the blockchain. PAAL AI seeks to provide predictive analysis, market insights, and smarter decision-making for users and developers. PAAL AI holds potential for those looking to combine the capabilities of blockchain and AI.

However, PAAL AI is still in its early stages and hasn’t yet gained widespread adoption. Bitgert’s upcoming announcement could affect PAAL AI . Bitgert’s announcement can overshadow PAAL AI. Bitgert’s focus on high transaction speeds and low gas fees could lead to greater interest in its eco, potentially diverting attention away from PAAL AI.

PeiPei Coin: The New Memecoin Sensation

PeiPei Coin has emerged as another memecoin riding the wave of viral popularity. PeiPei Coin has drawn attention due to Pei Pei community-driven nature and social media buzz. Memecoins like PeiPei often rely on their communities and hype rather than technological innovation or real-world use cases.

While PeiPei Coin is currently enjoying some market interest, Bitgert offers a stark contrast with its strong technological foundation and utility. Bitgert’s upcoming announcement is likely to appeal to investors seeking long-term value and innovation, which could lead to a shift in interest away from PeiPei.

How Bitgert’s News Could Impact PAAL AI and PeiPei Coin

Bitgert’s upcoming major announcement could negatively impact PAAL AI by overshadowing its technological capabilities. While PAAL AI focuses on integrating artificial intelligence with blockchain, Bitgert’s high-speed blockchain offering 100,000 TPS and near-zero gas fees provides a stronger foundation for developers and users.

Similarly, PeiPei Coin, a meme-based cryptocurrency, relies heavily on community-driven hype rather than solid fundamentals. Bitgert’s anticipated technological advancements could make PeiPei seem less appealing

Grab your own $BRISE token at Gate.io, KuCoin, MEXC, and Pancakeswap!

Step 1: Register on the exchange

Step 2: Choose your payment method

Step 3: Buy $BRISE

For more info, visit bitgert.com.

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Cryptocurrency is booming in the fourth quarter of 2024 as several external factors become favorable for alternate investing. Tokens like Bitgert, Render Coin, and Shiba Coin are attracting serious interest.

Moreover, Bitgert is gearing up for a huge announcement that could possibly bring price changes to Shiba Coin and Render Coin. So, let’s look at what Bitgert, Render Coin, and Shiba Coin have in store and which can be your best bet for investment.

Shiba Coin and Render Coin Compared To Bitgert

Shiba Coin

Since its inception, Shiba Coin has been promoted by some influential people, including Elon Musk and Vitalik Buterin. This publicity carried the value of Shiba Coin to unbelievable heights and made early investors huge gains.

Lately, however, Shiba Coin has transcended from the beginnings of its form as a meme coin and has established something called ShibaSwap – a DEX.

Although Shiba Coin has grown over time, it remains dependent on investor sentiment. In fact, unlike Bitgert or Render Coin, Shiba Coin does not have too many real-world, use cases. This places Shiba Coin as a riskier investment at this point in time.

Render Coin

Render Coin’s value proposition is its decentralized Render Network which connects GPU owners with creators who need rendering solutions for 3D content. Render Coin is much more than another cryptocurrency.

Render Coin is a tool for digital artists to streamline their work in this growing digital economy. Its real-world solution to such an important problem has made It quite popular. However, Render Coin is niche-focused; therefore, its potential is limited when it comes to attracting mass adoption compared to Bitgert.

Bitgert

Unlike Shiba Coin and Render Coin, Bitgert has a full blockchain ecosystem. With new partnerships coming out one after another, Bitgert is the one to watch within the blockchain world. The $BRISE token has been up 13.34% in trading volume for the last 24 hours, showing interest from investors.

In addition, Bitgert can process 100,000 transactions per second and low gas fees. A Proof-of-Authority consensus of Bitgert also reduces the load on networks. This makes Bitgert a highly scalable and efficient platform.

Impact of Bitgert’s Upcoming News on Render Coin and Shiba Coin

While Shiba Coin and Render Coin offer community-driven growth and niche solutions, Bitgert seems to be in the lead because of its ecosystem and superior technology.

So, if the big news that is soon to come regarding the innovation at Bitgert is related to a project upgrade or partnership, it might just turn out to be a better investment than Render Coin and Shiba Coin.

Grab your own $BRISE token at Gate.io, PancakeSwap, MEXC, and KuCoin!

Step 1: Register on the exchange

Step 2: Choose a payment method

Step 3: Buy $BRISE

Buy $BRISE on Bitgert website today. Visit bitgert.com.

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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In an analysis shared on X, crypto analyst Astronomer (@astronomer_zero) delves into the question that’s been looming over the crypto community in recents months: “Will we never have a proper altcoin season again?” As Bitcoin’s dominance (BTC.D) continues to surge and altcoins struggle to keep pace, Astronomer provides a data-driven perspective challenging the prevailing narratives that suggest the era of altcoin seasons may be over.

Astronomer begins by acknowledging the difficulties faced by altcoin holders in the current market environment. “Alts are still at low prices and BTC.D is raging up, and yes, ETH (and altcoin) holders are having a tough time,” he notes.

He observes a growing sentiment of disbelief among investors that Bitcoin dominance could decline again, casting doubt on the potential for another altcoin season. “You hear things like ‘BTC ETF changed everything,’ ‘Boomers will not buy altcoins which is why they won’t go up,’ ‘BTC is at ATH and alts have done nothing.’ Which are all things that are easy to say and grasp because they fit the current chart perfectly,” Astronomer explains.

However, he cautions against accepting these narratives at face value. “They give you a sense of comfort and a reason to not hold any alts, which is typically rough during accumulation stages, especially if the BTC chart ‘looks’ a lot better,” he adds.

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To provide clarity, Astronomer offers his own definition of an altcoin season: “A true altcoin season is one where liquidity from the most dominant asset (BTC) flows to the other assets (ETH and altcoins). As a consequence, BTC.D drops and nearly all altcoins go up.”

The Case For An Impending Altcoin Season

Astronomer lays out a series of facts to support his argument that an altcoin season is still on the horizon:

#1 Historical Precedence

“First fact: we had the big altcoin season every single cycle (4-year rotation) like clockwork,” he asserts. This pattern is not only evident in historical charts but also in the collective memory of those active during previous cycles. Astronomer cautions against adopting a “this time is different” mindset, which inherently positions investors at a disadvantage. “History rhymes/repeats,” he reminds readers.

#2 Bitcoin Dominance Chart Aligns With 4-Year Cycle

“The BTC.D chart is on track with its 4-year cycle,” Astronomer notes. He previously predicted that a top in Bitcoin dominance would occur around months 34 to 38 of the cycle. “We are now month 33 in the 4-year cycle, which means the tides are about to shift in just a few months,” he points out. Believing that Bitcoin dominance will continue to rise unchecked is essentially betting against established cyclical patterns, according to the analyst.

BTC dominance chart | Source: X @astronomer_zero### #3 The Grand Crypto Rotation

“The ‘first Grand Altcoin rotation’ generally happens once per cycle: around Q4 in year 3 of the cycle and is again playing out like clockwork so far,” Astronomer states. He explains that in previous cycles, certain altcoins (a minority) perform strongly early on, driven by specific narratives, while the majority experience significant gains later, fueled by liquidity flowing from Bitcoin.

He cites the 2018–2022 cycle as a prime example. “In this cycle, in the first 3 years, LINK is a great example as it was one of the strongest top 100 altcoins and has put in a 100x, while ETH (and all the other BTC liquidity-driven altcoins) have put in a measly 3x,” he explains. In the last year of that cycle, the dynamics shifted: “ETH has put in a 10x, and LINK has only gained another 3x or so.”

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#4 Overrated Impact Of Bitcoin ETF

Addressing the notion that the approval of a Bitcoin ETF has fundamentally altered market dynamics, Astronomer is skeptical. “The BTC ETF narrative to cancel alt season is way overrated,” he argues. He points out that since their launch, ETF total flows have accumulated up to $40 billion, while Bitcoin’s centralized exchange (CEX) volumes average $20 billion daily. “ETF flows are negligible, which is why you never heard me talk about them as I like to filter noise,” he asserts.

#5 Favorable Monetary Policy Looms

Astronomer also highlights macroeconomic factors that could benefit altcoins. “Interest rates are on the decline, the US money supply is increasing drastically (where now also China is following suit). The only thing we are waiting for is QE, which is typically a natural consequence of M2 increasing (with a delay),” he explains. Historically, such monetary conditions have been conducive to altcoin appreciation. “The monetary policy shifting in our favor typically also means altcoins do well,” he notes.

#6 Bitcoin’s All-Time High Is An Arbitrary Indicator

He challenges the idea that Bitcoin reaching an all-time high (ATH) without a concurrent altcoin season signals a permanent decoupling. “BTC being at ATH is an arbitrary gauge to when alt season begins and the fact that it reached ATH but altcoin season hasn’t begun yet is, in my opinion, not valid to call it canceled,” Astronomer argues. He emphasizes that time and cyclical patterns are more significant factors than price milestones.

At press time, Bitcoin traded at $61,129.

Bitcoin price reclaims $61,000, 1-day chart | Source: BTCUSDT on TradingView.com

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Crypto analyst Ali Martinez has suggested that the Bitcoin crash might not be over despite the relief rally to $61,000. The analyst highlighted the $60,365 price level as being important to avoid a potential crash to as low as $57,000.

Bitcoin Needs To Hold Above This Price Level To Avoid Crash

Martinez stated in an X post that $60,365 is a key price level to watch for Bitcoin. He claimed a break below this could cause the flagship crypto to fall to $57,420. However, if it holds above this level, the analyst remarked that a rebound to $63,300 is on the table. Therefore, Bitcoin’s trajectory depends on the crucial support at $60,000

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Source: Glassnode In another analysis, Martinez suggested that Bitcoin was likely to suffer more downward pressure in the short term rather than a rebound. He revealed that since May, every correction of the market value to realized value (MVRV) ratio from its 90-day average has led to a significant Bitcoin correction

Source: XIn line with this, the analyst noted that the latest rejection has already triggered a 10% drop, suggesting that Bitcoin could suffer more price decline. Analyst Justin Bennett also believes that Bitcoin will likely drop lower and predicts that it could fall to as low as $57,000. He added that a relief to take out the $63,200 short positions would be nice

Meanwhile, he alluded to the US Job report, which is set to be released on October 4. The analyst expects significant volatility amid this inflation data. A weak job report could lead to a Bitcoin crash, similar to what happened in August, with the flagship crypto dropping to $54,000. The inflation data is also significant as it would provide insights into whether the market can expect further rate cuts from the Federal Reserve this year

Veteran trader Peter Brandt also looks to be bearish on Bitcoin at the moment. He highlighted a ‘Three Blind Mice’ pattern that was forming on the BTC chart, indicating that the crypto is set to witness a bearish reversal following its uptrend in October

Why A Price Crash Could Be Good

The on-chain analytics platform Santiment suggested that a Bitcoin price crash might be much needed for the flagship crypto to go higher. The platform noted that the crowd has considerably cooled off its excitement toward crypto since BTC retraced over 9% from its local high of $66,400 recorded on September 27

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Source: X Santiment claimed that this is encouraging, considering that markets typically move in the opposite direction of the crowd’s expectation. As such, the Bitcoin price could enjoy a surprise rally, seeing as market participants are more bearish on its trajectory

Source: XAli Martinez noted that Bitcoin was currently in the complacency stage and just needed to cool off before it began its next rally

BTC bears drag price down from $66,000 | Source: BTCUSD on Tradingview.com

Este artículo también está disponible en español.

The XRP price has registered a notable drop during the past day as on-chain data shows the whales have been making transactions to exchanges.

XRP Has Witnessed A Sharp Drop Over The Last 24 Hours

The cryptocurrency sector has been observing bearish winds recently, with the drawdown deepening across the market during the past day. Most of the top coins, though, have managed to limit their losses, except for XRP, which has notably underperformed.

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The below chart shows how the coin’s recent trajectory has looked like.

Looks like the price of the coin has seen a plunge in recent days | Source: XRPUSDT on TradingViewFollowing the 14% drop in the last 24 hours, XRP has come down to the $0.52 level. This plunge has also put the asset more than 21% down compared to the $0.66 top that it had seen a few days back.

As for why the cryptocurrency has performed this poorly during the past day, perhaps on-chain data can provide some hints.

Whales Have Been Active On The Network Recently

According to data from the cryptocurrency transaction tracker service Whale , several large transactions have been spotted on the XRP network in the last 24 hours.

All of these transactions happen to be of a scale that’s generally associated with the whales, who are large entities that can carry a degree of influence in the market.

Naturally, one whale can’t move the market on their own, but some number of them together can, which may be exactly what has happened today. Generally, it can be hard to say for certain what the whales’ intentions are when they make moves, but address details can sometimes carry a hint or two.

Here are the details of the first of the whale transfers from the past day:

This massive transfer appears to have cost the sender a fee of just 0.000015 tokens | Source: Whale As is visible above, the whale moved 17,940,000 XRP, worth around $10.3 million at the time the transfer was uted, from an unknown wallet to an address connected to the cryptocurrency exchange Bitstamp.

An “unknown wallet” is one that’s not affiliated to any known centralized platform and is likely to be an investor’s personal address. Thus, it would appear that the whale moved coins from their self-custodial wallet to an exchange with this transaction.

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Transfers of this type are called exchange inflows. Since one of the main reasons why investors deposit their coins to these platforms is for selling-related purposes, large exchange inflows can lead to a bearish outcome.

The three other XRP whale transactions from the past day were also of the same type, with whales shifting a combined $37.9 million to different platforms. It’s possible that these transfers weren’t for selling at all, but for using a different service that exchanges typically provide. Given the corresponding price trend, though, it’s indeed likely that these moves provided a net selling pressure to the cryptocurrency.

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Aptos (APT) soared over 10% in the last 24 hours following Aptos Labs’ acquisition of HashPallete. The token is leading the market after becoming the largest gainer among the top 100 cryptocurrencies by market capitalization.

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Aptos To Expand Its Presence In Asia

On Thursday, Aptos Labs, the developer of the Aptos network, announced it had agreed to acquire the Japanese Blockchain developer HashPallete, the company behind Japan’s Palette Chain and a subsidiary of HashPort Inc.

The agreement aims to become a “game changer for Japan and the Aptos eco” as the integration with the Japanese blockchain is set to strengthen its presence in the Asian market:

Japan has long been a hub of technological innovation, and it’s no different when it comes to blockchain. The country’s unique blend of advanced tech and widespread blockchain adoption makes it a model for Web3 initiatives globally. Today, we’re making one of our boldest strategic moves into this market with our agreement to acquire HashPalette Inc.

As part of the acquisition, HashPort Inc. will migrate the Pallete Chain and its subsidiary’s applications to the Aptos Network. The Japanese chain will also have access to the Aptos eco’s security, scalability, and developer tools.

The migration is expected to be completed by early 2025, in time for the EXPO2025 DIGITAL WALLET. Moreover, Aptos Labs partnered with HashPort to support local developers, NFT creators, and enterprises by “continuing to build blockchain solutions (…) using Aptos Network’s infrastructure.”

APT’s performance in the three-day chart. Source: APTUSDT on TradingView## APT Leads The Crypto Market

Following the announcement, APT’s price saw a daily 11% surge, jumping to the $8.66 resistance level before retracing to the $8.51 mark. This performance crowned the token as the leading crypto amid the market retrace.

APT is among the few cryptocurrencies recording green numbers in most timeframes among the top 100 tokens by market cap. The altcoin registers a 7.5% and a 41% increase in the weekly and monthly timeframes.

Additionally, its daily market volume soared 41.7%, reaching a $769.6 million trading volume in the last 24 hours. The token’s performance was highlighted by several crypto analysts, who considered that APT has the “most interesting chart” at the moment.

According to Yuriy from BikoTrading, the cryptocurrency looks strong as the rising trading volume and the price performance “signs for continued growth.” The trader noted that APT’s price held above the key resistance zone amid the market retrace, which sent the token above Q3’s range highs.

Similarly, crypto trader Osbrah stated that APT has been “secretly climbing its way to the most interesting alts charts.” He pointed out that, after October 1’s market sweep, the token had a “clean bullish retest” above the $8 mark.

To the trader, the next big resistance is at the $9 mark, which could send APT’s price to the $7.95 support zone if it fails to reclaim it. Meanwhile, another market watcher suggested that the altcoin’s performance could be close to a breakout.

Aptos (APT) and SUI’s performance in the past year. Source: Cristi on X

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Per the post, SUI and APT moved in a “catch-up trade” path for the past year, moving closely together until SUI decoupled in early 2024. This led to a 44-day lagging period for APT before it followed SUI’s movements. After that, APT rose 98% to its yearly high of $18.8 in mid-March.

Now, APT has seen a 32-day lagging period after SUI decoupled again in September, showing “incredible amounts of strength.” Based on this, the analyst suggests that the cryptocurrency could follow SUI’s trajectory and kickstart a massive rally in the next two weeks if history repeats.

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Bitcoin has been experiencing some interesting developments in its market indicators, and a recent analysis points to the NVT (Network Value to Transactions) Golden Cross signaling a potential short-term local top.

According to a CryptoQuant analyst known as Darkfost, the NVT Golden Cross—a key metric used to determine market valuation relative to transaction volume—has reached a major level.

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Local Top Spotted, What Next?

The CryptoQuant analyst revealed that Bitcoin’s NVT Golden Cross has recently reached the 2.9 level, suggesting that the market cap, or price, of Bitcoin, may be outpacing its transaction volume.

Bitcoin NVT Golden Cross. | Source: CryptoQuantParticularly, Darkfost explained that a value above 2.2 indicates the possibility of reversing the mean, suggesting that the current valuation could be overextended. On the other hand, a value below -1.6 would indicate that the market is potentially undervalued.

For context, the NVT Golden Cross compares the market cap of Bitcoin to the volume of transactions on its network, providing a measure of whether Bitcoin is being traded at a fair value The signals become stronger when the metric moves deeper into its upper or lower zones.

At a current value of 2.9, the indication is that Bitcoin may face short-term price resistance, possibly pointing to a local top at around $65,800, Darkforst revealed.

The analyst adds that such levels can gauge potential long and short positions, especially when viewed alongside global chart trends and broader market behaviour.

Bitcoin On The Verge Of Major Correction?

While the NVT Golden Cross presents a perspective of potential market overvaluation, another CryptoQuant analyst, CryptoOnchain, offers additional insights by analyzing Bitcoin’s movement between exchanges. The recent data shows a significant outflow of Bitcoin from centralized exchanges.

This trend of Bitcoin being withdrawn from exchanges is seen across all three key moving averages: 30-day, 50-day, and 100-day. The analyst revealed that such an outflow hasn’t been observed at this scale since November 2022.

Bitcoin Exchange Outflow. | Source: CryptoQuantNotably, a decrease in Bitcoin held on exchanges can be interpreted in multiple ways. Firstly, it often suggests that investors move their assets to more secure storage, such as cold wallets, to hold rather than trade.

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This behavior can signal confidence in the asset, as holders may expect its value to increase over time. With fewer BTC available on exchanges for immediate sale, the potential for downward price pressure may decrease, which could set the stage for a bullish momentum in the longer term.

However, it can also indicate that traders prepare to exit their positions, anticipating a correction if they foresee market instability or overvaluation.

BTC price is moving downwards on the 1-hour chart. Source: BTC/USDT on TradingView.comFeatured image created with DALL-E, Chart from TradingView

Este artículo también está disponible en español.

On-chain data shows the Bitcoin miner exchange inflows have been dropping recently, a sign that may be bullish for the asset’s price.

Bitcoin Miner Exchange Inflow Has Been Declining Recently

As explained by CryptoQuant author Axel Adler Jr in a new post on X, miners have gradually been reducing their exchange inflows recently. “Exchange inflows” here naturally refer to transactions heading to wallets attached to centralized exchanges from self-custodial addresses.

In the context of the current topic, the exchange inflows made by miner-related wallets specifically are of interest. Generally, the main reason why miners transfer to these platforms is for selling, so large exchange inflows from them can be a sign that these chain validators are participating in a selloff.

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Miners have constant running costs in the form of electricity bills, so selling from them is a regular occurrence, as without it, they can’t keep their operations going.

This regular selling is usually of a scale readily absorbed by the market, so there may be no visible negative effect on the asset’s price. Large and sustained exchange inflows, though, can be something to note, as they may imply unusual selling pressure from this group.

Here is the chart shared by the analyst that shows the trend in the 30-day moving average (MA) Bitcoin miner exchange inflows over the history of the cryptocurrency:

Looks like the value of the metric has been moving down in recent days | Source: @AxelAdlerJr on XAs the above graph shows, the 30-day MA of the Bitcoin miner exchange inflows had plunged to pretty low in the first few months of the year but then underwent a sharp reversal.

The reason for this increase could be that the fourth Halving occurred in April. Halvings are periodic events about every four years that permanently cut the BTC block subsidy in half.

In the chart, the analyst has also attached the data for the coin issuance on the network (colored in blue). From this metric, the effect of the Halving is apparent, as miners can suddenly only mint about half as many coins after each of these events as before them.

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Miners make their income through two main sources, the transaction fees and the block subsidy, but most of the contribution generally comes from the latter. Thus, the miners depend on the block subsidy to make their income.

After the latest Halving, the miners naturally came under immense pressure because their revenue took a drastic hit. The exchange inflow trend would suggest that these chain validators had decided to sell off their reserves in response to this income squeeze.

The high inflows from the Bitcoin miners had continued for a while, but the 30-day MA of their exchange inflow has recently reversed, a potential sign that this cohort is finally pulling back on their selling. If this starts a sustained trend, then the cryptocurrency’s price might benefit from it.

BTC Price

Bitcoin has retraced much of its recent recovery during the last few days, as its price is now down to $60,300.

The price of the coin seems to have plunged recently | Source: BTCUSDT on TradingView

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Bitcoin (BTC) recently appeared poised for significant upside momentum and has experienced a notable price correction. Following a two-month high of $66,500 last Friday, the cryptocurrency retraced approximately 6% in the past week to around $60,000 by Thursday.

Key Buy Zones For Bitcoin

The anticipated bullish trend for Bitcoin was initially fueled by easing economic conditions, particularly following the US Federal Reserve’s decision to cut interest rates on September 18

However, escalating geopolitical tensions in the Middle East have shifted investor sentiment, ing many to seek refuge in traditional safe-haven assets like gold

Additionally, concerns regarding the macroeconomic landscape have intensified, particularly after Fed Chair Jerome Powell suggested the possibility of further rate cuts of 0.50% in the months ahead.

This confluence of factors has led to a broader market sell-off, with Bitcoin, Ethereum and the top cryptocurrencies on the market experiencing substantial liquidity outflows estimated at nearly $300 million, as reflected in the total crypto market capitalization.

The 1D chart shows the total crypto market cap value drop in the past seven days. Source: TOTAL on TradingView.comDespite the recent decline, crypto analyst VirtualBacon provided a more optimistic outlook on social media, noting that Bitcoin has returned to the “Bull Market Support Band.”

The analyst highlights that this support band has historically provided a cushion during corrections between the current market prices and the $62,500 mark on the weekly timeframe.

VirtualBacon emphasized that a weekly close above $58,000 could indicate a healthy correction, setting the stage for a resurgence. Conversely, a break below this threshold would necessitate reuating bullish strategies

The analyst pointed to two key buy zones: $62,500 and a lower range between $58,800 and $60,000. These zones coincide with previous highs and align with the 200-Day Exponential Moving Average (EMA), a significant long-term support level for any bull market.

The 200-Day EMA, currently around the $60,000 mark, has been pivotal over the past six months. It has acted as support and resistance during various phases of Bitcoin’s price movements in March, May and July of this year.

September Jobs Report Looms Large

In his analysis, VirtualBacon explained that if Bitcoin bounces back from $60,000, it would signal strength in the market. However, a daily close below $58,000 – or a weekly close below that level – could signal a potential bearish trend reversal.

VirtualBacon outlined a strategy for capitalizing on the current dip, indicating a willingness to accumulate BTC in the $58,000 to $60,000 range, which he views as a high-risk, high-reward zone. Nonetheless, he cautioned that a close below $57,000 would be a significant red flag.

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For the analyst, as long as Bitcoin holds above $58,000, there is potential for a higher low, setting the stage for a new price peak above $66,000. However, macroeconomic factors will remain crucial in shaping market sentiment.

This week’s release of the September jobs report will be particularly significant, as it will provide insights into the current unemployment rate, which could influence future Bitcoin price movements, according to the analyst:

• 4.2%: Very bullish for the market.
• 4.3%: Neutral outlook.
• 4.4%: Caution advised.
• 4.5% and above: Bearish implications.

At the last Federal Open Market Committee (FOMC) meeting, Jerome Powell identified 4.4% as a critical threshold. Should the unemployment rate rise above this level, VirtualBacon believes it could signal trouble for the broader economic landscape.

The daily chart shows that BTC’s price is trending downward. Source: BTCUSDT on TradingView.comFeatured image from DALL-E, chart from TradingView.com

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Solana trimmed gains and tested the $132 support. SOL price is consolidating and might aim for a fresh increase above the $140 resistance zone.

• SOL price started a fresh decline below the $145 zone against the US Dollar.
• The price is now trading near $142 and the 100-hourly simple moving average.
• There was a break above a short-term bearish trend line with resistance at $136 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The pair could start a recovery wave if it stays above the $132 support zone.

Solana Price Revisits $132

Solana price started a fresh decline from the $162 resistance like Bitcoin and Ethereum. SOL declined below the $155 and $150 support levels. It even declined below $142.

However, the bulls were active above the $132 support. A low was formed at $133.17 and the price is now consolidating losses. There was a move above the $135 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $1482 swing high to the $133 low.

There was also a break above a short-term bearish trend line with resistance at $136 on the hourly chart of the SOL/USD pair. Solana is now trading below $142 and the 100-hourly simple moving average.

On the upside, the price is facing resistance near the $140 level. The next major resistance is near the $142 level. It is close to the 61.8% Fib retracement level of the recent decline from the $1482 swing high to the $133 low. The main resistance could be $148.

Source: SOLUSD on TradingView.comA successful close above the $148 and $150 resistance levels could set the pace for another steady increase. The next key resistance is near $155. Any more gains might send the price toward the $162 level.

More Downsides in SOL?

If SOL fails to rise above the $140 resistance, it could start another decline. Initial support on the downside is near the $135 level. The first major support is near the $132 level.

A break below the $132 level might send the price toward the $120 zone. If there is a close below the $120 support, the price could decline toward the $112 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $135 and $132.

Major Resistance Levels – $140 and $148.

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Ethereum (ETH) co-founder Vitalik Buterin advocates reducing the ETH solo staking requirement to lower the entry barrier and promote greater network decentralization.

Buterin Sees 32 ETH Requirement As A Barrier

Responding to Ethereum educator Anthony Sassano on X regarding solo staking, Buterin expressed concern that the current 32 ETH requirement presents a bigger obstacle than bandwidth limitations.

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For those unfamiliar, solo staking on Ethereum requires an individual validator to stake at least 32 ETH – approximately $75,200 at the current market price of $2,352. Solo staking allows crypto investors to earn passive income while directly contributing to the security of the Ethereum network.

Buterin views this high entry threshold as a barrier that prevents smaller ETH holders from participating. He suggested temporarily increasing bandwidth requirements to reduce the minimum staking deposit to 16 or 24 ETH. Buterin elaborated:

It’s net-good for both staking accessibility and scale. Then once we figure out peerdas, bandwidth reqs go back down, and once we figure out orbit SSF, the deposit minimum can drop to 1 ETH.

It’s important to note that ETH holders can still stake with as little as 1 ETH by using third-party staking services, centralized platforms, or staking pools. However, these options don’t offer the same level of control over one’s ETH as solo staking, where the node operator retains full custody of their holdings.

During the Ethereum Singapore 2024 event in September, Buterin emphasized the significance of solo stakers in bolstering Ethereum’s security and decentralization to tackle potential 51% attacks.

At the event, Buterin said that even a small increase in the proportion of solo stakers on the Ethereum network could work as an “extra layer of defense” for both security and privacy.

Ethereum Layer-2 Solutions Continue To Thrive

While the 32 ETH barrier may discourage small-scale ETH enthusiasts from solo staking, they can still benefit from the growing popularity of Ethereum layer-2 solutions, which have made transactions more affordable.

For instance, in June 2024, layer-2 scaling platform Optimism announced the launch of open-source and permissionless fault proofs, enabling users to verify off-chain transactions’ validity securely.

Similarly, in August 2024, asset manager Franklin Templeton approved another layer-2 solution when it launched its OnChain US Government Money Fund (FOBXX) on the Arbitrum network.

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Similarly, crypto exchange Coinbase’s Ethereum layer-2 rollup Base has witnessed rapid adoption as its total value locked (TVL) currently stands at slightly over $2.12 billion, according to data from DeFiLlama.

As layer-2 solutions continue to succeed, their positive impact may extend to the Ethereum network. Crypto analysts, such as CryptoBullet, predict that ETH could rally in Q4 2024. ETH is trading at $2,352 at press time, down 3.5% in the past 24 hours.

ETH trades at $2,352 on the daily chart | Source: ETHUSDT on TradingView.com

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XRP price extended losses and tested the $0.5080 support level. The price is now consolidating and might aim for a recovery toward the $0.580 resistance.

• XRP price declined further below the $0.5250 zone.
• The price is now trading below $0.5450 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could struggle to recover above the $0.5650 and $0.5800 resistance levels.

XRP Price Extends Losses

XRP price extended its decline below the $0.580 level, underperforming Bitcoin and Ethereum. The price even declined heavily below the $0.5450 support zone.

A low was formed at $0.5070 and the price is now consolidating losses. There was a minor move above the $0.5150 level. The price is still well below the 23.6% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.

The price is now trading above $0.5450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5440 level. The first major resistance is near the $0.5550 level.

The next key resistance could be $0.5800. There is also a key bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.

Source: XRPUSD on TradingView.comA clear move above the $0.5850 resistance might send the price toward the $0.600 resistance. Any more gains might send the price toward the $0.6120 resistance or even $0.6250 in the near term.

Another Decline?

If XRP fails to clear the $0.5440 resistance zone, it could start another decline. Initial support on the downside is near the $0.5150 level. The next major support is near the $0.5080 level.

If there is a downside break and a close below the $0.5080 level, the price might continue to decline toward the $0.4920 support in the near term. The next major support sits near the $0.4850 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.5150 and $0.5080.

Major Resistance Levels – $0.5440 and $0.5850.

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Ethereum is down when writing, mirroring the general performance across the board. The nearly 2% drop in the crypto scene is due to the contraction of Bitcoin, Ethereum, and top altcoins. At present, the total market cap is down to $2.17 trillion. It could post even more losses should bears press on, reversing the gains of September.

Ethereum Under Pressure, Will $2,350 Offer Support?

In the last week alone, CoinMarketCap data shows that Ethereum is down 10%, pushing losses below $2,400, a former support, now resistance. While it could appear that the sharp dump of the better part of this week is discouraging participation, some traders are accumulating at around spot rates.

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IntoTheBlock data on October 3 shows that 1.89 million Ethereum addresses bought 52 million ETH at around the $2,311 and $2,383 range. That a large amount of buyers choose to buy, on average, at $2,350 means this is a support level that traders should closely watch.

ETH may find support at $2,350 | Source: @intotheblock via XConsidering the number of ETH accumulated, sellers would need to exert more effort to break below this level, forcing the coin towards $2,100 and August lows. Comparing traders’ action and the September range, the $2,350 level falls at around 61.8% and 78.6% Fibonacci retracement levels.

What’s Next For ETH?

Technically, crypto prices, including ETH, tend to find support around this Fibonacci retracement zone. Accordingly, how prices react between the $2,100 and $2,350 zone will likely shape the medium to long-term trend.

Related Reading: What’s Holding Bitcoin Back? Analyst Says $71,000 Is The Magic Number

A refreshing bounce around this emerging support and Fibonacci retracement zone would be a massive boost. In this case, ETH could rally, even above $2,800, as bulls target $3,500.

Ethereum price moving downward on the daily chart | Source: ETHUSDT on Binance, TradingViewConversely, any sharp dump below August and September lows may easily trigger panic selling. Out of this, ETH can slump below $2,100 and $2,000 and may fall to as low as $1,800, confirming losses of early August.

Considering the state of price action, sellers have the upper hand. Over the past few trading sessions, centralized exchanges have had massive outflows.

Wintermute moves ETH to Binance | Source: @OnchainDataNerd via XEarlier today, The Data Nerd revealed that Wintermute, a crypto market maker, moved 14,221 ETH to Binance, indicating that they might sell. In August, Wintermute and other leading market makers, including Jump Capital, sold over 130,000 ETH, forcing prices lower.

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Ethereum price extended its decline below the $2,350 level. ETH is now recovering from losses and faces a major hurdle near the $2,300 zone.

• Ethereum declined further and traded below the $2,350 zone.
• The price is trading below $2,400 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance at $2,400 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $2,400 and $2,420 resistance levels to start a decent increase in the near term.

Ethereum Price Eyes Recovery

Ethereum price remained in a bearish zone and extended losses below the $2,400 level. ETH traded below the $2,350 support to move further in a bearish zone like Bitcoin.

The price even spiked below the $2,320 support level. A low was formed near $2,311 and the price is now consolidating losses. There was a minor increase above the $2,350 level. The price is still below the 23.6% Fib retracement level of the downward wave from the $2,655 swing high to the $2,311 low.

Ethereum price is now trading below $2,400 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,400 level. There is also a key bearish trend line forming with resistance at $2,400 on the hourly chart of ETH/USD.

A clear move above the trend line resistance might send the price toward the $2,480 resistance. It is close to the 50% Fib retracement level of the downward wave from the $2,655 swing high to the $2,311 low.

Source: ETHUSD on TradingView.comAn upside break above the $2,480 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665.

Another Decline In ETH?

If Ethereum fails to clear the $2,400 resistance, it could start another decline. Initial support on the downside is near the $2,350 level. The first major support sits near the $2,300 zone.

A clear move below the $2,300 support might push the price toward $2,220. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,300

Major Resistance Level – $2,400

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Bitcoin price is consolidating above the $60,000 support. BTC seems to be eyeing a fresh increase above the $61,200 and $61,500 levels.

• Bitcoin is consolidating above the $60,000 support zone.
• The price is trading below $61,750 and the 100 hourly Simple moving average.
• There was a break above a key bearish trend line with resistance at $60,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it clears the $61,200 resistance zone.

Bitcoin Price Signals Positive Moves

Bitcoin price extended its decline below the $61,200 support. BTC broke the $60,500 and $60,200 support levels to move into a short-term bearish zone. The price even dipped below $60,000.

A low was formed at $59,850 and the price is now consolidating losses. There was a minor increase above the $60,450 level. The price climbed above the 50% Fib retracement level of the downward move from the $62,350 swing high to the $59,850 low.

There was also a break above a key bearish trend line with resistance at $60,850 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $61,750 and the 100 hourly Simple moving average.

On the upside, the price could face resistance near the $61,400 level. The first key resistance is near the $61,750 level or the 76.4% Fib retracement level of the downward move from the $62,350 swing high to the $59,850 low. A clear move above the $61,750 resistance might send the price higher. The next key resistance could be $62,350.

Source: BTCUSD on TradingView.comA close above the $62,350 resistance might initiate more gains. In the stated case, the price could rise and test the $62,850 resistance level. Any more gains might send the price toward the $63,200 resistance level.

Another Decline In BTC?

If Bitcoin fails to rise above the $61,750 resistance zone, it could start another decline. Immediate support on the downside is near the $60,450 level.

The first major support is near the $60,000 level. The next support is now near the $59,850 zone. Any more losses might send the price toward the $58,800 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $60,450, followed by $60,000.

Major Resistance Levels – $61,400, and $61,750.

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Dogecoin (DOGE), the meme-based cryptocurrency, has recently seen a sharp decline in price following a short rally to $0.12 last week.

Amid this plunge in price performance, prominent crypto analyst Ali has identified key levels where its price needs to be reclaimed real soon, or there will be negative consequences.

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Dogecoin: Reclaim $0.11 Or What?

In a recent post on Elon Musk’s social media platform X, Ali highlighted the importance of the $0.11 price mark for Dogecoin, noting that approximately 60,210 addresses had purchased around 36.40 billion DOGE tokens at this level.

Dogecoin in/out of the money around price. | Source: Ali on XHe explained that these addresses represent significant support, and if the price remains below $0.11, holders might become increasingly inclined to sell their assets to mitigate potential losses. This selling pressure could accelerate DOGE’s downward trend.

60,210 addresses bought 36.40 billion $DOGE at $0.11! #Dogecoin must reclaim this level soon to sustain a bullish outlook. Otherwise, a failure to do so could lead to a sell-off as investors may seek to minimize losses. pic.twitter.com/BABwVfPGem

— Ali (@ali_charts) October 3, 2024

DOGE’s Ongoing Decline: Beginning Of Another Bearish Trend?

So far, Dogecoin has been on a downward trajectory, losing a significant portion of its gains from its recent rally. Over the past week, DOGE has dropped by 10.8%. The decline has continued into the past 24 hours, with the asset shedding 4.2% of its value, currently trading at around $0.1019.

DOGE price is moving upwards on the 1-hour chart. Source: DOGE/USDT on TradingView.comThis price drop has directly impacted DOGE’s market capitalization, falling from over $17 billion last Thursday to around $14.9 billion today. Alongside this, the 24-hour trading volume for DOGE has also seen a noticeable decrease, from $1.4 billion last Thursday to just above $1 billion.

While many in the crypto community are panicking concerning this bloodbath, analysts have continued to share their outlook and remain optimistic.

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For instance, Trader Tardigrade, a popular crypto analyst, in a recent post on X, suggested that the recent dip in Dogecoin’s price may be a “retest” of its descending trendline following a recent breakout.

According to Tardigrade, Dogecoin’s relative strength index (RSI), which measures the magnitude of recent price changes, shows a lower low while DOGE maintains a higher low position.

Dogecoin price chart analysis. | Source: Trader Tardigrade on XAccording to technical analysis, this divergence could indicate a possible trend reversal in favor of a bullish move. Tardigrade concluded the post with advice noting: “Understand the TA [technical analysis], and you won’t be shaken out.”

Featured image created with DALL-E, Chart from TradingView