Crypto Dragon-AMA

Golden Cross Forming On The Bitcoin Chart
Titan of Crypto revealed in an X (formerly Twitter) post that a Bitcoin Golden Cross is happening. He elaborated that the Golden Cross between the 100-day and 200-day moving averages is unfolding, noting that the crypto market has never witnessed this before. The crypto analyst added that if it is successful, this development could trigger the “most explosive bull run yet.”

Related Reading: Elon Musk Hints At Dogecoin’s Return as Tesla Merchandise Payment After Court Win
Bitcoin 1
Source: X
Based on the chart the crypto analyst shared, a successful Golden Cross could send Bitcoin’s price as high as $120,000. This aligns with predictions made by several crypto analysts, including Mikybull Crypto, who mentioned that between $138,000 and $150,000 were “optimal targets” for Bitcoin in this bull run.

Meanwhile, Titan of Crypto isn’t the only analyst who recently highlighted the Golden Cross forming on Bitcoin’s chart. Crypto analyst Crypto Jelle mentioned in an X post that Bitcoin is forming a weekly Golden Cross for the first time in its history. Like Titan of Crypto, Crypto Jelle also explained that the 100-week moving average is crossing above the 200-week moving average.

The crypto analyst further noted that these crossovers are considered bullish signs in traditional markets and questioned whether they would also be bullish for Bitcoin. Based on the chart the analyst shared, a successful crossover could pave the way for the flagship crypto to rise to $90,000, which will mark a new ATH for the cryptocurrency.

Arthur Hayes outlined a bleak outlook for Bitcoin, suggesting that in the worst case, it may gradually decline to the $50,000 mark. The previously-bullish Hayes is now modifying his forecast, saying that the market will stay bearish in the near term, especially until late September.  ADVERTISEMENT He predicts that Bitcoin will only slightly increase during this time, while altcoins will probably see much larger drops. His logic is based on macroeconomic elements like the U.S. government's spending patterns and the futile tightening policies of the Federal Reserve. According to Hayes, as 10-year Treasury yields approach the risky 5% mark, the bond market will tighten conditions - something the Fed has not done.  BTC/USDT Chart by TradingView This change may put a stop to the current bull run on the stock market and raise questions about the balance sheets of smaller banks, which would put more pressure on riskier assets like Bitcoin. It is noteworthy that Hayes continues to hold a bullish long-term outlook. He has not sold all of his assets, and he may even buy more of a few different cryptocurrencies

Read more on U.Today https://u.today/worst-case-scenario-bitcoin-price-revealed-by-arthur-hayes?utm_source=coingecko&utm_content=coingecko&utm_campaign=coingecko&utm_medium=coingecko&utm_term=coingecko

This week, Solana (SOL) is rallying past $150 with an 8.43% rise over the last month. With its $5.4 billion in TVL, Solana’s scalability and low fees maintain its position as a top contender in the market. Meanwhile, JetBolt (JBOLT) is making headlines during its explosive presale, with crypto whales rapidly turning to its innovative ecosystem. Both Solana and JetBolt could see remarkable movements this month, and traders are watching closely as October unfolds.
Will SOL break $160? How far will JetBolt go? Let’s explore the latest Solana and JetBolt developments.
Will Solana (SOL) Surge in October? Key Factors to Watch
Solana (SOL) is making headlines this October with its recent 4% rise, pushing the price past the $150 resistance to $154.59. Now, traders are closely monitoring the SOL as it moves toward the $160 resistance. A successful close above this level could trigger further bullish movements, with some experts even predicting that SOL could reach $180 by the end of the month.
Technically, Solana’s price chart is also showing strong bullish indicators: the Relative Strength Index (RSI) is approaching overbought levels, signaling continued interest and demand. Meanwhile, the Simple Moving Average (SMA) shows that Solana remains above the 20-week EMA, which is a clear sign of an ongoing uptrend.
Recent developments also boost Solana’s price movements: the Total Value Locked (TVL) in Solana’s DeFi ecosystem has surged to $5.4 billion, representing a 2,000% increase from its post-FTX days. Additionally, Solana’s growing dominance in DEX trading volume, surpassing Ethereum (ETH), reflects rising activity in its ecosystem. Thanks to these developments, even though SOL experienced a sharp dip to $142 mid-week before rebounding with strong momentum, it has climbed back over $154, showcasing impressive resilience in the past 7 days and marking consistent gains towards the weekend.
Solana's 7-day trading chart from CoinMarketCap, showing a dip before recovering and peaking above $154
However, Solana’s bullish sentiment isn’t new. Exactly one year ago, Solana surged from $22 to $120 in just a few months, reaching a 606% rise by October 2023. This demonstrated the token’s strong resilience and ability for rapid growth, especially as it overcame post-FTX uncertainties.
Recent developments are adding to this momentum: Standard Chartered analysts predict Solana could soar to $330 as it approaches 50% of Ethereum's valuation. Rumors of Apple building on Solana’s blockchain are also fueling excitement. Additionally, Ethena Labs is considering adding $100-$200 million of SOL to its USDe stablecoin, signaling growing confidence in the ecosystem. Despite on-chain concerns, like 86 million empty wallets, raising some questions about engagement, Solana’s overall trajectory remains positive.
Meanwhile, whales are also excited about what’s next for JetBolt (JBOLT), a crypto presale gaining remarkable momentum thanks to its impressive blockchain capabilities. As JetBolt’s presale heats up, it’s becoming clearer that both Solana and JetBolt are the tokens to watch this October.

#Bitcoin❗
Bitcoin and the broader cryptocurrency market came crashing down soon as the Israel-Iran escalated on Tuesday, marking a bearish beginning to BTC’s best month historically. The Bitcoin price is down 3.16% to $61,715 levels while the altcoins led by Ethereum have plummeted anywhere between 5-10%.
CryptoGames
Bitcoin Price and Altcoins Face Huge Selling Pressure
After one of the best-performing September in a decade, Bitcoin and altcoins have come under selling pressure as the bulls fail to sustain the Bitcoin price above $65,000. The selling pressure further escalated on Tuesday as Iran fired 200 ballistic missiles on Israel while escalating the war between the two nations.
Bitcoin holds the track record of 20% gains in October, however, it’s down by 4% in the first two days. Sean McNulty, director of trading at liquidity provider Arbelos Markets stated that this is a “momentary setback”. He added that “The seasonal trend of October being the best month for Bitcoin is alive and well”.
The markets will continue to remain on high alert as Israeli Prime Minister Benjamin Netanyahu has vowed to retaliate against the recent Iran strikes. On Tuesday, the Bitcoin ETF outflows also surged to $242 million breaking the eight consecutive days of inflows. Some market analysts believe that Bitcoin’s all-time high ain’t coming anytime soon at least until mid-November. Additionally, the weakness in the US PMI data highlights the shrinking economy putting additional selling pressure.
Popular crypto analyst Benjamin Cowen stated that following the Fed rate cuts in 2019, the Bitcoin price rallied for two weeks only to drop to the 100W SMA 2 months later. If the cryptocurrency repeats this pattern, the correction could extend to $50,000 levels by mid-November, as per the below chart shared by Cowen.

Origins of Neiro
In May 2024, Dogecoin’s famous mascot, Kabosu, passed away at the age of 17, marking the end of an era. A couple of months later, Kabosu’s owner brought home a new Shiba Inu named Neiro. This sparked a frenzy in the meme coin scene, leading to the creation of many Neiro-inspired tokens on Solana and Ethereum.

The most noticeable Neiro projects consist of two Solana and two Ethereum projects. First, we will discuss the first Neiro token deployed on Ethereum, which is leading by market cap. Then, we will cover which Neiro token was created first and highlight the basic differences between the four Neiro projects.

First Neiro on Ethereum (Neiro CTO)
The First Neiro on Ethereum, also known as Neiro CTO (short for community takeover), is the leading Neiro project by market cap. Neiro CTO is part of the larger meme coin phenomenon, where tokens like Dogecoin and Shiba Inu often make news headlines.

Most meme coins start as jokes, but some can grow rapidly due to viral social media and community trends. Much like Dogecoin and other dog-themed coins, Neiro doesn't promise to revolutionize the financial world but instead focus on building a strong community and driving user engagement through humor and social media buzz.

That said, traders and investors should remain cautious. Meme coins are known for their volatility and can experience massive price swings based on community sentiment​.

When was Neiro CTO created?
Neiro CTO was deployed on July 27 at 9:14 PM UTC. It was the first Neiro to be deployed on the Ethereum network.

Buy this cheap Ethereum presale for 5000x profit
The XRP price fails to turn green despite the crypto market rallying. Meanwhile, whales flock to this Ethereum token for 5,000x returns.

This explains why RCO Finance (RCOF), an emerging Ethereum token, has attracted hordes of investors despite being in its presale.

Why are Ripple (XRP) whales shifting gears to RCO Finance (RCOF)? Continue reading to discover!

XRP Price Plunges 1% in a Week: Will Bulls Return Soon?
Ripple has underperformed over the past seven days despite the crypto market rallying. On September 19, the XRP price was hovering around $0.5896. After experiencing a brief tumble, the XRP price picked up momentum on September 19 due to a Bitcoin-led bull run.

This bullish trend saw the XRP price climb as high as $0.6100 on September 21. However, the excitement died, and the XRP price began correcting downward. By September 24, Ripple (XRP) had stabilized at around $0.5830. This price means XRP has plunged 1% in a week.

Moreover, the 24-hour Ripple trading volume has tanked 10%. This decline indicates dwindling whale interest. As whales shift from Ripple, the XRP price will likely take another hit and plunge further.

RCOF: A High-Potential Presale Opportunity!
With the XRP price slumping, whales are actively migrating to RCOF, a new Ethereum token. RCOF has attracted whales and small investors because its presale offers a low entry point and promises massive returns. Also, SolidProof, a top blockchain security firm, audited this RCOF’s smart contract, ensuring it is safe to invest in.

As of September 24, RCOF was in Stage 2 of its ongoing public presale. Investors can now purchase this Ethereum token at $0.0344 and await tremendous returns when it completes its presale at $0.4-$0.6.

As RCOF’s demand rises, experts believe this Ethereum token will surge 5,000%, eclipsing XRP Price 1,400% surge between Q4 2017 and Q1 2018. Experts expect RCOF to make this leap by late 2024. Moreover, experts believe this Ethereum token will surge astronomically when it launches on top DEXs and CEXs.

RCO Finance Shakes Up The DeFi Sector With Its Robo Advisor!
Like its native RCOF token, RCO Finance has also captured investor interest because of its mission to simplify investing in the crypto and TradFi sector.

As part of this mission, RCO Finance tokenizes real-world assets (RWAs), offering investors access to illiquid assets like real estate, precious metals, and art.

RCO Finance has also enthralled investors because of its flagship feature, an AI-powered robo advisor. The robo advisor taps advanced algorithms and machine learning to simultaneously monitor market trends and news related to the 120,000+ assets on the RCO Finance platform.

This revolutionary trading tool matches this data to an investor’s risk tolerance and financial goals before offering personalized investment recommendations. For instance, the robo advisor can give investors data-driven insights on when to buy, sell, or double down on specific assets for peak profitability and low risk.

It is worth noting that the robo advisor can automatically complete trades on an investor’s behalf. This functionality allows investors to sit back and let this game-changing trading tool adjust their portfolios in real-time.

Besides its robo advisor, RCO Finance has attracted investors because its non-KYC sign-up approach lowers the entry barrier. This forward-looking approach also helps investors maintain their anonymity, a much-treasured feature in the cryptoverse.

RCO Finance has also won over investors because it issues debit cards to simplify spending on crypto. Additionally, it boasts a rewards and cashback program that incentivizes staking and trading.

These perks explain why RCO Finance is quickly gaining headway in the DeFi sector!

The recent rally in the XRP price has gained notable attention, with the crypto crossing the $0.62 mark recently. This surge has sparked investors’ optimism, especially after Ripple’s native crypto has noted volatile trading over the past few weeks.

intel Markets
However, this uptick move has also fueled discussions among some traders over the potential reasons behind the recent price jump. So, here we explore some of the top reasons that might have triggered the recent price rally.

Why Is XRP Price Rocketing Today?
The XRP price has noted a surge of more than 6% today, gaining investors’ attention. Amid this a flurry of market pundits have also provided a bullish forecast for the crypto, further raising the market sentiment.

It appears that many are anticipating the US SEC to take no further stance in the Ripple lawsuit. However, chances still remain as many have put their bets on a last-minute SEC appeal in the case, which has created a volatile trading scenario for the crypto.

On the other hand, the recent RLUSD developments have sparked optimism in the market. For instance, Ripple has recently issued 350,000 RLUSD, advancing its stablecoin initiatives. On the other hand, the firm’s president Monica Long has also shared an optimistic outlook on the future developments for the blockchain company.Besides, the recent XRP Ledger upgrades have also bolstered the market sentiment, indicating the developers increasing focus towards the project.

Market Expert Remains Optimistic On Ripple’s Native Crypto
Popular crypto market experts like Tony Edward, and CrediBULL Crypto, among others, have provided an optimistic outlook on the crypto. For instance, CrediBULL Crypto has recently predicted XRP to reach as high as $30, sparking market optimism.

As of writing, XRP price was up 6.03% and exchanged hands at $0.6215, while touching a high of $0.6256 in the last 24 hours. Its trading volume jumped more than 75% to $2.19 billion during writing, with its Futures Open Interest soaring over 14%, reflecting the positive market sentiment.

Yes, Shiba Inu (SHIB) can drop a zero from its price in 2024, provided it can rally more than 400% from the current level of $0.0000199. However, can SHIB rally 400% in 2024? No. It is unlikely for Shiba Inu to surge that high due to the competitive landscape of dog and cat-themed cryptocurrencies. 
Can Shiba Inu (SHIB) Drop a Zero From its Price in 2024?
In 2021, Shiba Inu surged 2,140% in just 50 days, allowing it to drop a zero as the SHIB price went from $0.000004 to $0.000089. During this phase of the bull market, although there were many dog-themed cryptocurrencies, SHIB stood out due to its marketing efforts and bull market optimism. 

A lot has changed since 2021. The crypto investor mindset has shifted and there are plenty of opportunities to invest in these days. In addition to dog-themed crypto, there are frog and cat-themed crypto. The 2024 US presidential elections have also birthed a different breed of cryptos to focus on. As a result, the liquidity is fragmented. Hence, the chances of Shiba Inu dropping zero from its price in 2024 are slim. 

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Although the fourth quarter is bullish for cryptocurrencies in general, it is unlikely that SHIB’s price has the capacity to rally high enough to drop to zero. 

Cryptocurrency enthusiasts are on high alert as significant developments loom on the horizon for Shiba Inu, Dogen, and Pepe coins. Analysts are dropping intriguing hints, sparking curiosity and speculation within the crypto community. With these digital assets potentially poised for substantial shifts, next week promises to unveil pivotal moments for investors and traders alike. Here’s what’s brewing in the crypto world.

DOGEN: The Ultimate Meme Token for Real Alphas Who Always Win
DOGEN
Imagine living a dream life — posh cars, fat stacks of cash, and women who turn heads. That’s the DOGEN lifestyle!

Contents
If you’re the kind of guy who’s always looking to level up, you need to check out DOGEN. This meme token is for the real alphas who always win.

HODL Like a Beast, Dominate the Market
This thing is about to explode! We’re talking about a 700% surge before the presale even wraps up — and that’s just the beginning. DOGEN is heating up to those insane thousand-fold gains that memetokens are famous for this season. Get in early, and watch the others try to keep up while you’re already at the top!

Missed Out on WIF, Popcat, or Ponke?
DOGEN Coins
DOGEN is the new alpha on the Solana blockchain, running with the big dogs like BONK, WIF, and Popcat — all of which blew up with 1000% gains at some point.

Right now, DOGEN’s flying under the radar, but it’s about to set new records in this bull run. You don’t want to miss out on this one.

Got that DOGEN spirit? Good, ‘cause they’re holding an airdrop! All you gotta do is flex on social, stack tokens during the presale, and start building your DOGEN army with your referral link. For every recruit, you’ll be snatching a fat 20% of their Golden Points from token buys.

DOGEN STONKS
Shiba Inu Coin: Ethereum-Based Meme Token with Growing Utility
Shiba Inu (SHIB) is a cryptocurrency inspired by Dogecoin, known as a memecoin. It operates on the Ethereum blockchain, which allows it to integrate with a range of applications within the Ethereum network. Launched in August 2020 by an anonymous developer named Ryoshi, SHIB’s initial supply was one quadrillion tokens.

A large portion was sent to Ethereum’s co-creator, Vitalik Buterin, who donated and burned a significant amount, impacting SHIB’s visibility. Unlike Dogecoin, SHIB plans to expand its use with projects like ShibaSwap, a decentralized exchange, and future platforms for NFTs and decentralized governance, suggesting potential growth in its utility beyond being just a memecoin.

PEPE: The Memecoin Inspired by an Internet Classic
PEPE is a deflationary cryptocurrency known as a memecoin. It is based on the popular Pepe the Frog meme. The coin launched on the Ethereum network. Its design aims to follow the footsteps of other memecoins like Shiba Inu and Dogecoin. PEPE stands out by offering no transaction taxes and openly embracing its lack of practical utility. It gained attention with a peak market value of $1.6 billion in mid-2023.

PEPE’s plan includes making it more popular through social media and exchange listings. A burning mechanism reduces supply, while a reward system benefits holders, helping PEPE remain stable. It is available on platforms like Uniswap, Binance, and KuCoin.

Dogecoin: From Joke to Market Phenomenon
Dogecoin (DOGE) began in 2013 as a lighthearted alternative to traditional cryptocurrencies, featuring a Shiba Inu meme as its logo. Unlike Bitcoin, Dogecoin was made to be abundant, with no upper limit and 10,000 new coins created each minute.

Originally considered a “memecoin,” its value soared in 2021, ranking among the top ten cryptocurrencies with a market cap over $50 billion. This rise was driven by social media influence, particularly from Elon Musk, amid a broader crypto market surge. Created as a joke by Billy Marcus and Jackson Palmer, Dogecoin’s unexpected popularity highlights the influence of community and social media on the financial landscape.

Conclusion
The upcoming week holds significance for meme tokens such as SHIB, PEPE, and DOGE. While they show moderate short-term potential, DOGEN stands out with its features. It’s crafted for those who prioritize luxury and success, offering exclusive benefits for early adopters.

The token is anticipated to grow by 700% by the presale’s end, with chances of even higher returns in this altcoin season. It follows successful tokens like BONK, WIF, and Popcat, aiming for impressive achievements. DOGEN is establishing a network of leaders who strive for market dominance. Its design ensures tangible rewards, positioning itself as a promising investment for those seeking excellence.

Seeker smartphone launch and other innovations at the Breakpoint and Token2049 conferences position Solana for a strong rally.
Dogecoin price rebounds following Tesla's lawsuit dismissal strengthen its bullish outlook, with a potential breakout looming at $0.115. BNB coin is just 2.5% shy of a critical breakout above $600, with momentum building toward $800.
In the past two weeks, the cryptocurrency market experienced significant growth across most major altcoins, spurred by speculation around the U.S. Federal Reserve rate cuts. During this market rebound, Solana, Dogecoin, and BNB Coin attracted significant investor attention due to their respective developments. However, which among the three could lead the bull run in $2024?

Dogecoin vs. Solana vs. BNB: Who’s Set to Soar in 2024’s Price Rally?
Following the Bitcoin price surge above $60000, the crypto market speculation grew for the potential bottom formation of the prevailing correction trend. As the quarter-four looks promising for digital assets, which among these three altcoins will outperform their competitor?
Solana (SOL)
Solana, a leading Layer-1 blockchain, tops our list due to the wave of developments unveiled at its Breakpoint Conference 2024 in Singapore. Additionally, at the Token2049 conference, Solana Labs introduced the Seeker smartphone, an upgraded model with enhanced hardware and a lower price than its predecessor.
Amid these events, the Solana price prediction showcased a sharp bounce from $128.9 to $149 this week, registering a growth of 15%. With sustained buying, the SOL price is poised at 21% before challenging the multi-month resistance of the flag pattern at $180, positioning the asset for a higher rally.

Dogecoin (DOGE)
DOGE, the largest meme cryptocurrency by market cap, has recently shifted its prevailing downtrend to sideways above $0.091 support. The bullish momentum gained traction as Elon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of inflating the price of Dogecoin in what was described as a $258 billion “pyramid scheme.”
Following the legal victory, the speculation of Dogecoin acceptance for Tesla cars rose again, accelerating the bullish outlook. In the last two weeks, the DOGE price surged from $0.091 to $0.108, accounting for an 18.4% surge, while the market cap boosted to $15.8 Billion.

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Unlike Solana price, this joke coin is just 7% away from a critical breakout above the $0.115 resistance, positioning it for a potential higher rally.

For a detailed analysis, check out the top meme coin articles.
Binance Coin (BNB)
Within a fortnight, the BNB coin price showed a sharp V-shaped reversal from $471 to $583— a 23.8% increase. Amid the general market uptick, the upcoming release of former Binance CEO Changpeng Zhao from Long Beach RRM, a federal facility in San Pedro, has likely bolstered the price recovery.

Unlike Dogecoin, the Binance coin price is barely 2.5% away from challenging the multi-month resistance of $600. A potential breakout from this barrier will intensify the buying pressure and drive a rally past $800.

Conclusion
While the Dogecoin and BNB coin price is poised for an immediate breakout, the flood of development in Solana could bolster its native cryptocurrency, SOL, to lead the 2024 price rally.

Worldcoin (WLD) has demonstrated notable resilience, registering impressive daily and weekly gains on the charts. This, despite being down 9.69% on the monthly charts.

Should this rally persist, WLD can potentially recoup its monthly losses. By doing so, it might reach a trading level it last saw in August.

Price, volume surges indicate that WLD is bullish
Over the last 24 hours, WLD has outperformed several assets, according to CoinMarketCap. In fact, it hiked by 6.36% and secured the 4th position on the gainers’ table.

This growth was accompanied by a significant 99.59% surge in trading volume, totaling $199,208,674.

Source: CoinMarketCap

Simultaneous hikes in both volume and price typically signify strong buying interest and bullish sentiment. This also means investors are optimistic about WLD’s future prospects, with both likely to affect the altcoin’s demand and price.

AMBCrypto also noted another additional positive development for WLD, one that can help it rally.

Development activity on WLD skyrockets
Data from Santiment revealed that development activity for WLD has surged by 4960% over the last 30 days.

A significant hike in development activity is seen as a bullish indicator for the token. This means that the team is actively improving the project by resolving issues and integrating new features.

These enhancements strengthen investor confidence and encourage purchases that positively affect the token’s price.

Source: Santiment

Additionally, there has been a noticeable rise in Open Interest, a metric that measures investors’ commitment to the asset.

Insights from Coinglass indicated a 17.31% uptick in Open Interest for WLD. This can be interpreted as a sign of high retail investor interest in holding the token, instead of selling it.

Technical analysis provides conditions and targets for WLD
On the technical front, WLD recently broke out from an ascending channel. However, at press time, it was retracing.

This pattern typically indicates a bearish trend, suggesting the breakout may be a fake-out. It also seemed to point to the strong possibility of a return movement into the channel, with the price eventually breaking south.

Despite this, prevailing market developments might present two potential scenarios for a rally –

The price could reverse from its current trading position and hit the main target of $1.891. Or, it might drop to the support level at $1.434 before climbing to $1.891.

Source: Trading View

Should the price fall below this support level, WLD is likely to continue its descent to the bottom of the ascending channel.

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Home > Bitcoin > Will Bitcoin’s realized price drop to $31K? Levels to monitor
Bitcoin
Will Bitcoin's realized price drop to $31K? Levels to monitor
3min Read
Bitcoin has dropped below its 200-day MA for the second time in 2024.
Posted: September 14, 2024>
Gladys Makena
Will Bitcoin's realized price drop to $31500? Levels to monitor
BTC has dropped below its 200-day moving average for the second time, the first being July 2024.
An analyst predicted a drop to BTC’s realized price of $31500.
Bitcoin [BTC], has experienced extreme volatility over the last months. Since hitting a local high of $70016 in July, it has failed to maintain an upward momentum. In fact, over the last month, it has declined by 4.63%.

However, over the past week, BTC has attempted to reverse the trend by increasing by 4.16% weekly. Despite these attempts, it has failed to sustain the momentum.

As of this writing, BTC was trading at $58093. This marked a 0.40% decline over the past day.

Equally, the crypto’s trading volume dropped by 19.90% to $29.7 billion over the past 24 hours.

This market indecision and lack of clear trajectory has left market analysts seeing a further decline before a reversal. Inasmuch, popular Crypto analyst Ali Martinez a drop to its realized price citing its 200-day moving average

Market sentiment
According to his analysis, when Bitcoin trades above its 200-day moving average, it indicated strong returns. However, when it drops below this level, it sets the crypto for a sustained decline.

Source: Ali on X

Therefore, since it has traded below $64000, over the past month, it suggested a potential drop to its realized price of $31500.

In context, when BTC markets trade below the 200-day average, it’s said to be in a downtrend. While, when it trades above the 200-day moving average, it’s considered bullish.

Historically, when BTC falls below its 200-day moving average, prices tend to drop shortly after. First, during the 2016-2017 bull market, BTC fell below the 200-day SMA for three consecutive months.

During the 2018-2019 cycle, it fell below the 200-day MA in mid-2019 before COVID-19 disrupted the pattern. In August 2023, it fell below 200-day MA until October, which was accompanied by a price decline.

Recently, on the 4th of July, BTC dropped by 2% to trade at $57300 thus falling below its 200-day moving average of $58720.

However, when BTC breaks above this trendline prices tend to surge. For instance, in October 2023, when prices broke above the 200-day MA, BTC was trading at $28000.

A breakout from this trendline fueled expectations for ETFs thus paving the way for ATH at $73737. In July when it broke out from the trendline, its prices recovered to $70016.

What Bitcoin charts indicate
Undoubtedly, as Martinez posited, a drop below the 200-day MA indicated a decline, per historical data. But what do other indicators say?

Source: CryptoQuant

For starters, Bitcoin’s long-term holders SOPR has been on a declining channel since the 29th of August. The LTH SOPR has declined from 3.2 to 1.2, indicating bearish sentiment among long-term investors.

This implied they no longer expected BTC to recover, thus selling to avoid further losses.

Such market behavior results in selling pressure, driving prices down.

Source: CryptoQuant

Additionally, Bitcoin’s Fund Flow Ratio has declined over the past month, implying less capital inflow relative to overall trading volume.

This suggested that investors lacked confidence and they were not committing new funds. When investors close their positions, it results in selling pressure, which further pushes prices down.

Read Bitcoin’s [BTC] Price Prediction 2024–2025

Therefore, as Martinez posits, a drop below the 200-day MA implied further decline. Based on current market sentiment, BTC was positioned to decline to $54147 in the short term.

However, a breakout from this trendline will push prices up to $64727.

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Pro-XRP lawyer John Deaton has promised to hold the US Securities and Exchange Commission (SEC) accountable for the $15 billion loss that XRP investors suffered due to the SEC’s Ripple lawsuit. The legal expert, who is contesting against Senator Elizabeth Warren, famous for her anti-crypto stance, intends to fulfill this promise when he gets elected to the Senate. The lawyer has already outlined some of the ways which he intends to hold the Commission accountable.

Bitget
John Deaton Promises To Hold The SEC Accountable
In an X post, The pro-XRP lawyer promised to hold the SEC accountable for the 75,000 small XRP investors he represented in the SEC’s case against Ripple. The legal expert added that he isn’t willing to accept an apology from the Commission. Instead, he plans to hold people at the SEC accountable when he gets to the Senate since Senator Warren won’t do it. Specifically, the lawyer claimed these small investors lost over $15 billion thanks to the “SEC’s misconduct and gross overreach.”

The Senatorial candidate highlighted how the federal court declared that the Commission’s lawyers lacked “faithful allegiance to the law” and were only concerned about winning the suit against Ripple rather than protecting investors, which they are mandated to do. The lawyer also noted how he fought to protect these investors and did it for free.

John Deaton acted as amicus counsel for these investors, considering their interest in the Ripple lawsuit. The lawsuit is believed to have stifled XRP’s price, especially when it was instituted in 2020, just around the time of the 2021 bull market, preventing these investors from enjoying their desired profits from the crypto.

Bitcoin [BTC] miners have recently sold a significant chunk of their holdings, just as mining difficulty hit an all-time high.

This is a critical moment—if miners don’t show confidence in a rebound, it could signal a looming bearish run.

Bitcoin miners are at a crucial juncture
The mining community holds about 9% of Bitcoin’s total supply and is expanding capacity amid record-high mining difficulty.

Historically, miner capitulation—when Bitcoin miners exit due to low profits—often signals local price bottoms during bull markets.

The last time this occurred was on the 5th of July, when BTC fell to $56K after testing the $71K ceiling. Miners exited due to squeezed profit margins, contributing to the price bottom.

Bitcoin miner hash ribbon
Source : Bitcoin Magazine Pro

The chart showed that the 30-day MA is above the 60-day MA, signaling a hash ribbon buy signal. This suggested mass miner capitulation may have ended, indicating miners are staying in despite volatility.However, a prominent analyst noted that Bitcoin miners sold around 30K BTC after BTC briefly topped $58K, likely to lock in strong gains.

Maybe capitulation now signals both market tops and bottoms. The key is to watch who capitulates first.

Falling reserves can signal market top
While the chart above suggested that miners exiting typically occurs at market bottoms, AMBCrypto examined whether approaching a price top could trigger miner exits.

Interestingly, as BTC nears $60K, Bitcoin miners are reducing their reserves, possibly to lock in profits, reinforcing this hypothesis.

Miner reserves are declining
Source : CryptoQuant

As mining difficulty hits an all-time high, many miners might be cashing in on gains to cover their expenses. This could create selling pressure as BTC approaches its next market top.

However, those who can weather the volatility may continue to hold their Bitcoin, as indicated by the buy signal.

Read Bitcoin’s [BTC] Price Prediction 2024–2025

The real concern is if BTC hits a market bottom and fails to hold the $57K range; miner capitulation could intensify.

In this scenario, Bitcoin miners might offload large amounts of BTC, not due to low profits but to mitigate greater losses

Schiff: Bitcoin's journey ends with heavy losses MicroStrategy cofounder Michael Saylor has recently taken to X platform to share his keynote speech at the H.C. Wainwright Annual Global Investment Conference, in which he talked about his transformation from a Bitcoin skeptic to a fervent supporter of the flagship crypto. The speech resonated with many BTC enthusiasts, but not with Peter Schiff, a longtime Bitcoin critic. In response to Saylor's X post, Schiff accused⁠⁠⁠⁠⁠⁠⁠ the MicroStrategy cofounder of misleading his audience with false promises about Bitcoin; the gold bug states that Saylor's portrayal of the "Bitcoin journey" ultimately leads to substantial losses. "In truth, the Bitcoin journey is not quite as he describes. It begins with a sucker and ends with heavy losses," Schiff wrote. He has also challenged Saylor to a debate. "Again Saylor mentions me, but won't debate me," he remarked.

Read more on U.Today https://u.today/bitcoin-journey-ends-with-heavy-losses-peter-schiff-says-sec-signals-that-ethereum-is-not-security?utm_source=coingecko&utm_content=coingecko&utm_campaign=coingecko&utm_medium=coingecko&utm_term=coingecko