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Wen altseason?

#crypto #altseason #BTC #bitcoin #altcoins 

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Kalshi Attains $2B Valuation After Recent Funding Round in Crypto Prediction Market Cryptocurrency prediction platform, Kalshi, successfully raised $185 million in a Series C round, led by Paradigm, reaching a $2 billion valuation. CEO Tarek Mansour stated that the funding will be used to expand the firm’s technology team for integration with more brokers. The company has already collaborated with Robinhood Markets and Webull, providing customers access to Kalshi’s contracts. Interestingly, this comes as Kalshi's main competitor, Polymarket, is raising $200 million at a $1 billion valuation. The two prediction market platforms are taking different approaches to regulation and market access. Kalshi operates legally in the US under CFTC regulation, while Polymarket faces restrictions in several countries.

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Ethereum (ETH) Continues to Encounter Intense Sell-off at Key Threshold Ethereum (ETH) recently rallied after nearing the $2,000 mark, driven by renewed optimism following a ceasefire announcement between Israel and Iran by President Trump and a resurgence in US spot Ethereum ETF inflows. This pushed ETH past the $2,400 level, with the digital asset currently testing its 50-day Exponential Moving Average (EMA), a historically crucial turning point. CryptoQuant analysis suggests that a definitive breakout above the $2,500-$2,600 range could lead to a short-term rally towards the $2,800 resistance, and potentially up to $4,000. Geopolitical tensions involving the US, Israel, and Iran, however, continue to introduce volatility into the crypto market. Bitcoinsensus's latest findings indicate Ethereum is entering the final and most explosive phase of its 4-year market cycle, hinting that the 2025 market top could come earlier than expected.

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Leading Cryptocurrencies to Monitor: Data Indicates Potential for Significant Growth New on-chain data shows a significant profit disparity among major cryptocurrencies, sparking conjecture about which are set for significant growth. Market intelligence platform, Santiment, reports that 94.5% of Bitcoin (BTC) holders and 88.7% of Ethereum (ETH) holders are in unrealized profit. However, less than half of Cardano (ADA) holders are in profit, suggesting potential undervaluation. Despite recent sell-offs, Bitcoin has maintained its value due to new buyer demand. On the other hand, ADA has been declining, making it potentially attractive to contrarian investors. Santiment's data suggests coins like Chainlink (LINK) and ADA might have untapped growth potential if sentiment improves. Crucial factors include Bitcoin's ability to maintain support amid profit-taking, Ethereum's leverage unwind, and the conversion of oversold signals into sustained demand for altcoins.

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Is XRP Approaching a Significant Breakout Point? A Price Analysis XRP has been steadily consolidating over several months, maintaining key support levels and exhibiting accumulation signs against both USDT and BTC pairs, hinting at possible underlying developments. Technical analysis shows XRP/USDT is trading within a descending channel, demonstrating lower highs and lows. However, a recent price bounce after sweeping sell-side liquidity below the $2 mark may indicate a weakening bearish momentum. Despite a neutral bias suggested by the RSI around 50, regaining 100 and 200-day moving averages between $2.2-$2.4 could pave the way for a breakout. Similarly, the XRP/BTC pair, on a clear downtrend since March, is nearing its channel's lower boundary, aligning with a significant fair value gap (FVG). This could act as a strong demand zone, potentially slowing the bearish momentum and triggering bullish continuation.

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Evaluation of Ethereum's Value: Key Developments Needed for ETH Stability Ethereum staged a technical bounce back last week, recovering from the $2,200 region to above $2,400. However, ETH remains under pressure from macro uncertainty and weakening bullish momentum across altcoins. If key resistance levels are not reclaimed with volume and conviction, the bounce may be short-lived. The 200-day moving average is a critical resistance zone, and if buyers fail to convincingly reclaim it, ETH could drop further. On the other hand, a strong close above the $2,550 mark will invalidate the bearish structure and open the possibility of reaching the $2,800 resistance level. Ethereum's holdings on centralized trading platforms have dropped to 18.8 million ETH, the lowest in recent years, reflecting reduced selling pressure and preference for self-custody. This could set up a potential supply shock, but short-term price action remains technically vulnerable.

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