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CryptoClownz
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Stablecoins are a type of cryptocurrency whose value is linked to a real-world asset, such as a fiat currency (like the US dollar) or a commodity (like gold), with the goal of maintaining a stable price.
This contrasts with other cryptocurrencies that can experience large price fluctuations.
How do stablecoins work?
Linking to an asset: Most stablecoins are designed to maintain a 1:1 value with the asset to which they are linked.
Asset-backed or algorithmic: Some are backed by asset reserves (like dollars in a bank account), while others use algorithms to keep their value stable.
Less volatility: By being linked to a stable asset, stablecoins offer greater stability than other cryptocurrencies, making them useful for transactions and payments.
Examples of stablecoins: USDT (Tether): One of the most popular stablecoins, linked to the US dollar.
USDC (USD Coin): Another widely used stablecoin, also linked to the US dollar.
BUSD (Binance USD): A stablecoin from the Binance exchange, linked to the US dollar.
Why use stablecoins?
Reduce volatility: They are useful for those looking for an alternative to the price fluctuations of traditional cryptocurrencies. Facilitate transactions: Their stability makes them more suitable for transactions and payments, as their value can be predicted.
Being in crypto without the volatility: They are a way to participate in the world of cryptocurrencies without having to deal with the large price movements of other cryptocurrencies.
While bitcoin $BTC remains around 95,000 dollars, bullish expectations in the market are growing. However, that doesn't mean it can't experience a drop before continuing to rise.
$BTC is preparing for another breakout of historical highs if the capital flow trend continues. *This projection is a strong long-term outlook* Although in the very short term there are good chances of price pullbacks, as a natural part of a bullish process.
Therefore, under the current market regime, it is considered that all drops are for buying.
The fundamentals of Bitcoin have turned bullish, setting up a favorable environment to surpass previous high levels. Capital flows into the network are increasing.
An example of the increasing flows is, in addition, the performance of Bitcoin exchange-traded funds (ETFs) in the United States. With an inflow of $3 billion last week, they recorded their highest entry in five months and the second highest in their entire history, showcasing the reactivation of bullish sentiment.ā¬ļø #bitcoin #criptonews
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Bitcoin $BTC has been witnessing a tough battle between bulls and bears near the crucial level of $95,000
The upward 20-day exponential moving average ($88,619) and the relative strength index (RSI) near the overbought zone indicate that the bulls dominate the market. A close above $95,000 could drive the BTC/USDT pair to $100,000 and eventually to $107,000. Sellers are expected to aggressively defend the zone between $107,000 and $109,588
The 20-day EMA is the critical short-term support to watch because a break below it puts the broad range of $95,000 to $73,777 at risk.
The 4-hour chart shows that bears fiercely defend the $95,000 level but struggle to sink the pair below the 20-day EMA. If the price rebounds from the 20-day EMA, the likelihood of surpassing $95,000 increases. The pair could then reach $100,000.
On the other hand, if the price remains below the 20-day EMA, the pair could fall to the 50-day simple moving average.
This is an important level that bulls must defend, as a break below this level could push the pair down to $86,000.
Bitcoin $BTC rose more than 10% this week thanks to strong recovery from buyers, pushing the price up to the upper resistance of $95,000.
Although buyers are struggling to overcome this resistance, a positive sign is that they have not ceded much ground to the bears.
The strong rise is due to solid purchases in U.S. spot Bitcoin exchange-traded funds (ETFs), which recorded inflows of $3.06 billion, according to data from Farside Investors.
Bloomberg ETF analyst Eric Balchunas commented in a post on X that it was really remarkable to see "how quickly flows can shift from first to fifth gear".
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Milk17
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$SUI gained momentum after buyers pushed the price above the moving averages on April 22.
The recent rally has pushed the RSI into the overbought zone, suggesting minor consolidation or a correction in the coming days. Any pullback is expected to find support in the area between the 38.2% Fibonacci retracement level of $3.14 and the 50% retracement of $2.94.
A shallow pullback increases the likelihood of a rally to $4.25 and then to $5. Sellers will regain control if they manage to push the SUI/USDT pair below $2.86. #criptonews #sui