China News by Thebittimes.Com

Institutional demand for Ethereum (ETH) is gaining serious momentum. Yesterday, July 22, Ethereum ETFs experienced one of their largest single-day inflows in two weeks, bringing in $533 million.  Ethereum ETF Flow. Source: FarSide Investors In sharp contrast, Bitcoin ETFs recorded $68 million in outflows, a striking reversal that hints at a potential shift in institutional crypto appetite. This marks one of the biggest day-to-day divergences between the two flagship cryptos since spot Ethereum ETFs launched earlier this year. Some traders are now pointing to this move as a possible signal that ‘altcoin season’ is getting underway. Institutions rush in Fidelity made one of the biggest single-day buys this week, with its Ethereum Fund (FETH) adding 33,788.82 ETH, roughly $124 million, in just one day. The purchase brings Fidelity’s total Ethereum holdings to 629,202 ETH, valued at approximately $2.33 billion at current market prices. But Fidelity isn...

Deep-pocketed traders triggered a price crash over the weekend after depositing a huge chunk of an altcoin’s supply to digital asset exchanges. According to blockchain tracking firm Lookonchain, whales in the Bounce (AUCTION) market have been greatly influencing the altcoin’s price action for the past week, causing massive swings in both directions. Bounce Finance is a decentralized auction platform enabling auctions for various assets, such as physical assets tokenized on the blockchain and non-fungible tokens (NFTs). AUCTION tokens are used for governance, staking, and fees for participating in auctions or creating NFTs on the platform. Lookonchain says that in the last several days, whales sent over 14% of the circulating supply of AUCTION to Binance, the largest crypto exchange in the world by volume, and OKX. Those deposits presumably led to coins being sold on the open market, which ultimately caused prices to plummet. Says Lookonchain, ...

The cryptocurrency industry has witnessed the arrival and departure of several coins. After six whole years, the Pi Network finally rolled out its very own cryptocurrency. PI entered the market making headlines. Despite a steep decline upon launch, the price of the asset has subsequently risen, hitting a new all-time high of $2.98 on February 27. The real question is if the altcoin will continue this momentum and record an uptick in the coming month. Also Read: GTA 6 Update: ‘Developer’ Confirms 2025 Release and Leaked Map Insights A Look Into PI’s Current Market Source: Pintu PI started at a low of $0.6152 and managed to rise close to the $3 mark within a week of its launch. Throughout the past seven days, the altcoin has surged by nearly 200%. At the time of writing, the Pi Network fell prey to the overall market downtrend and was trading at $1.99. Over the past 24 hours, the asset witnessed a downfall of 25%. Source: CoinMarketCap While the asset is still new, exchanges are ske...

A widely followed cryptocurrency analyst and trader is saying that an altcoin in the Solana (SOL) ecosystem is at a critical juncture. The analyst pseudonymously known as Sherpa tells his 234,700 followers on the social media platform X that the memecoin Popcat (POPCAT) is at a “do-or-die” level. Based on Sherpa’s POPCAT chart, it appears that the Solana-based memecoin has formed a head and shoulders pattern on the daily time frame and could plunge if the support level fails to hold. A head and shoulders pattern is typically considered a bearish pattern in technical Analysis . Source: Sherpa/X POPCAT is trading at $0.802 at time of writing, up by 21,147% since the January 5th low of $0.00379. Next up is Bitcoin (BTC). According to Sherpa, there are several reasons to remain bullish on Bitcoin and other crypto assets, even after a recent correction that saw the flagship digital asset briefly dip below the $100,000 price. “Bitcoin dominance has yet to come ...

A closely followed crypto analyst believes that one Ethereum (ETH) restacking protocol is starting to look extremely bullish. Pseudonymous analyst Altcoin Sherpa tells his 226,300 followers on the social media platform X that Eigenlayer (EIGEN) may continue to surge for several factors. “One coin/trade I haven’t seen on the timeline at all is EIGEN. ETH season probably coming. Hot new coin with former insane hype and current underpriced fully diluted valuation (current = $5.5 billion) compared to before. New tech. Everything’s up a lot but this looks exceptionally strong.” Source: Altcoin Sherpa/X Looking at his chart, the analyst suggests that EIGEN is printing a bullish pattern of higher high and higher low prices on the 12-hour timeframe. EIGEN is trading for $3.15 at time of writing, up 7.6% in the last 24 hours. Next up, the analyst says that AAVE, the native token of a top lending platform on Ethereum, might be in an uptrend ...

The cryptocurrency industry has been on a roller coaster ride. Meme coins like PEPE have been undergoing significant volatility. The altcoin saw more than 34% rise over the past seven days. However, the meme coin was trading at $0.000008376 at press time, with a 0.26% drop over the past 24 hours. The 42% rise in daily volume increased selling activity instead of buying since the asset price did not see a massive surge. According to data from Changelly, PEPE is expected to record an uptick in the next couple of days. The asset will trade around $0.00001041 on August 15, following a 24% surge from its current price level. This surge, eliminating a zero, gives meme coin investors a much-needed boost. Whale Activity and Market Impact Whale’s Buying Spree Amidst this, a prominent whale named “cookislandstrust.eth” was seen making news for its moves. The whale has been buying a large amount of meme currency. Recent Purchases Recent data shows the whale bought an impressive 420 billion PEPE t...

The cryptocurrency market is likely gearing up for a sustained bull run led by Bitcoin (BTC), which is seeking to reclaim the $70,000 resistance zone. Amid the current price movement, select altcoin s are experiencing a steady rise in value, presenting a prime opportunity for entry.  In gearing up for the next altcoin season, Finbold initially consulted OpenAI’s artificial intelligence platform, ChatGPT, on December 2, 2023, to gather insights regarding which coins and tokens will likely record significant returns when the altcoin season kicks in. Picks for you Robert Kiyosaki’s 2 new investments will surprise you 34 mins ago Josh Shapiro net worth 2024 | How much money does Governor Josh Shapiro have? ...

Bitcoin price is losing its upward momentum, but data suggests traders are gearing up to buy any significant dips. Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move. A mild correction during an uptrend does not signal a trend change. It is generally a healthy sign as it shakes out weak hands. When markets are trending higher, dips are viewed as a buying opportunity, but it is better to wait for the price to find a bottom before buying. Strong support levels could be watched as potential places where buyers step in to arrest the decline. Daily cryptocurrency market performance. Source: Coin360 MicroStrategy founder and executive chairman Michael Saylor said in an interview with CNBC that if traders hold a 12-month to 48-month time horizon, the current level is...

After today's Bitcoin ETF decision delay, BTC's boring price action looks set to carry on through the weekend. Bitcoin (BTC) continues to frustrate investors with its tight range consolidation, giving no clue about the possible direction of the breakout. Typically, the longer the range, the stronger the eventual breakout from it. Therefore, traders should be on their toes to latch on to the breakout when it happens.  A minor positive in favor of the bulls is that they are holding on to a large part of the gains seen in 2023. That indicates a lack of urgency among the bulls to book profits as they anticipate the uptrend to resume. Daily cryptocurrency market performance. Source: Coin360 Bloomberg senior ETF analyst Eric Balchunas highlighted that 15 of the best performing equity exchange-traded funds in 2023 have been crypto-related with exposure to crypto and blockchain. Do Bitcoin and the select altcoins show any signs of a potential breakout from their respective ranges? Le...

After almost two years, the stolen 13,556 ETH, which was worth nearly $60 million, amounted to almost 26.2 million at the time of writing. Nearly two years after the dog-inspired decentralized finance (DeFi) project — AnubisDAO — was rug-pulled for almost $60 million in Ether (ETH), the stolen funds were siphoned away using Tornado Cash. In October 2021, AnubisDAO raised 13,556 ETH from crypto investors owing to the predated Dogecoin (DOGE) trend. However, roughly 20 hours into the investment, the funds were sent to a different address — resulting in an instant loss for the investors. Between July 15 and 16, the illicit funds were moved via Tornado Cash, a decentralized protocol that allows private transactions. The person in possession of the 13,556 ETH divided and moved the funds via 100 ETH per transaction, as shown in the screenshot below. A snippet of AnubisDAO’s rug pull funds transaction history. Source: etherscan.io The information was brought forward by blockchain investigato...

Blockchain equities inflows reached a recent high of $15 million as well. However, total trading volume dropped. A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10.  This week’s inflows registered $136 million. Bitcoin (BTC) funds continued their trend of holding the anchor position, with 98% of the inflows coming from BTC. The other 2% mostly came from Ether (ETH), multi-asset holdings, and a handful of altcoins. Source: Screenshot, CoinShares  After nine weeks where digital asset outflows outpaced inflow s, this third consecutive week of positive movement brings the current streak’s total to $470 million. According to Coinshares, this total fully corrects for the previous outflow streak. This brings the last 3 consecutive weeks inflows to US$470m, fully correcting the prior 9 weeks of outflows. Trading turnover has slowed though, which might be expla...

The SEC’s tagging of cryptocurrencies as securities has greatly affected the crypto market causing Algorand and Flow to hit historic lows on June 10. The United States securities regulator designated a slate of cryptocurrencies as securities in recent lawsuits including Algorand (ALGO) and Flow (FLOW) which hit all -time price lows following the declaration. On June 10, ALGO and FLOW hit their respective historic lows of $0.098 and $0.46, having dropped around 30% in the past seven days according to CoinGecko data. Both have slightly rebounded since, with ALGO up over 12.5% and FLOW recovering just over 10.5% since June 10. ALGO's seven-day price chart shows a drop to its all-time low with a slight recovery after. Source: CoinGecko Last week the Securities and Exchange Commission (SEC) sued crypto exchanges Binance and Coinbase on June 5 and 6 respectively. In the process, it labeled 16 new cryptocurrencies as securities , including FLOW and Internet Computer (ICP). ALGO was hi...

A bearish chart pattern suggests that PEPE could shave off another 70% in value, especially if the wider market continues to trend down. Pepe (PEPE) price has dropped by more than 70% three weeks after establishing its record high of $0.00000449. And the memecoin could fall even more in the coming days, according to a mix of technical and fundamental indicators. PEPE charts flash a classic bearish reversal pattern From a technical standpoint, the price of PEPE could drop sharply from its current levels. At the core of this bearish outlook lies the classic head-and-shoulders (H&S) pattern. Analysts who use technical analysi view the H&S pattern as a bearish reversal indicator for the unversed. It forms when the price forms three peaks atop a common neckline support; the middle peak, called "head," is higher than the other two, called the "left shoulder" and "right shoulder." Head-and-shoulder breakdown illustrated. Source: Forex Academy The H...

The debt ceiling talks remain in focus and are likely to dictate the price action in the S&P 500, DXY and cryptocurrency markets in the near term. The debt ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon recently told Bloomberg on May 11 that a possible sovereign default by the U.S. government could create panic in the stock markets, resulting in heightened volatility. The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third most preferred asset class behind Gold and U.S. Treasuries should the U.S. government fail to prevent a debt default. Daily cryptocurrency market performance. Source: Coin360 Billionaire fund manager Paul Tudor Jones told CNBC that he is holding his Bitcoin and will always have some portion of his portfolio in it. What are the important support and resistance levels to watch ...