China News by Thebittimes.Com

While the cryptocurrency market decides its next move, liquidation pools in the two leading cryptocurrencies threaten a potential short squeeze . Bitcoin (BTC) and Ethereum (ETH) could pump next week if the market liquidates short positions betting against these finance giants. Bitcoin lost a trading range support on April 1 and is down nearly 7% month-to-date, at $66,773. Meanwhile, Ethereum had a similar pattern, down nearly 10% month-to-date, trading at $3,273 by press time. Derivatives market data of Bitcoin and Ethereum. Source: CoinGlass In this context, cryptocurrency Futures traders have favored opening short positions against the two most valuable cryptocurrencies. Therefore, Finbold retrieved data from CoinGlass on April 5 to understand the risks and potential of a short squeeze pump. Picks for you 3 meme coins to turn $100 into $1,000 in April 18 mins ago Crypto war! Solana community launches brutal attack on Ethereum 20 mins ago Bitcoin scores...

Starting January 29, 2024, Google will allow US-based crypto trusts to advertise on its platform. Advertisers looking to promote crypto trusts must, however, undergo Google certification. Google’s policy update aligns with a broader industry trend and Bitcoin’s 74% surge in the past 90 days. In a strategic move, Google has revised its cryptocurrency-related advertising policy to permit ads for US-based crypto trusts, aligning with predictions of the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. This update, effective January 29, 2024, comes at a time of heightened anticipation in the crypto space, as industry analysts speculate a 90% chance of a US spot Bitcoin ETF approval by January 10, 2024. Google allows Ads for US crypto trusts The update explicitly mentions “advertisers offering Cryptocurrency Coin Trust targeting the United States.” Advertisers interested in promoting crypto trusts must undergo...

Short positions in two cryptocurrencies have risen in the past 12 to 24 hours, indicating a bearish sentiment in the crypto currency market; however, this volume may lead to short- squeeze opportunities for bullish traders. Particularly, Avalanche (AVAX) and Arbitrum (ARB) are showing a relevant weight of opened shorts over the total long positions in the derivative market. Both open interest capitalization also accrues for a meaningful amount of each 24-hour spot volume and market cap. Finbold retrieved this data from CoinGlass on November 28, looking for possible short-squeeze events in a 12 to 24-hour time frame. Short squeeze alert for Avalanche (AVAX) In the last 12 hours, Avalanche registered $127.01 million in long positions and $141.14 million in short positions (52.63%). The 24-hour time frame also saw a similar weight of $274.06 million shorts (52.14%) over the $251.55 million longs. AVAX Long/Short ratio on 12 and 24 hours. Source: CoinGlass Stocks Sh...

“When Ethereum futures ETF and spot Bitcoin ETF applications finally gain approval, brace yourself for an unprecedented marketing battle, as predicted by Bloomberg ETF analyst Eric Balchunas. The investment powerhouse, VanEck , has already ignited its promotional machinery for the eagerly awaited Ether futures exchange-traded fund (ETF), with industry insiders speculating an early launch as soon as October 2nd. On September 28th, VanEck unveiled two captivating TV commercials, both centered around the theme ‘Enter the Ether,’ giving us a sneak peek into their Ethereum Strategy ETF, designated as EFUT, which is ‘coming soon.’ These commercials coincided with VanEck ’s press release regarding EFUT, disclosing its upcoming listing on the Chicago Board Options Exchange and its stewardship under Greg Krenzer, the head of active trading at VanEck . Notably, Bloomberg’s Eric Balchunas and James Seyffart read these TV ads as a hint that Ether futures...

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...

Litecoin creator Charlie Lee argued in a recent tweet that it’s difficult to dispute the worth of Litecoin. LTC is a cryptocurrency that boasts several advantages, such as low transaction fees, compatibility with Bitcoin’s protocol, similar game theoretical attack risks as Bitcoin, and its own dedicated set of ASIC miners ensuring security. I can see an upside target of 10% (0.025 LTC/BTC). In the next bull market, 5% (0.0125) shouldn't be too hard to achieve. I honestly don't see it going much below 1% (0.0025) on the downside. The next halving will be in ~92 days. This is going to be fun.https://t.co/erotIo38Oc — Charlie Lee ️️ (@SatoshiLite) May 2, 2023 Lee also added that Litecoin has been launched fairly and has a track record of 11.5 years with no downtime. At present, Litecoin is valued by the market at slightly above 1% of Bitcoin. While it’s debatable whether this valuation is fair or not, Lee believes that the market’s es...