Für Solana verkehren sich die Vorzeichen zunehmend ins Negative, wodurch auch für den Kurs ein weiterer Einbruch droht.
Bitcoin-ETFs verzeichnen 450 Mio. US-Dollar an Zuflüssen, stärkster Tag seit langem
Die Spot-Bitcoin-ETFs melden einen ihrer stärksten Tage seit langem. Positionieren sich die institutionellen Anleger für die nächste Kletterpartie?
ADA could slip below $0.30 as bearish momentum builds
Key takeaways
- ADA is down 4% in the last 24 hours and is now trading below $0.37.
- The bearish trend could see ADA decline below the $0.30 psychological level.
Cardano’s on-chain shows further bearish movement
Cardano’s ADA is down by 4% in the last 24 hours, making it one of the worst performers among the top 10 cryptocurrencies by market cap. The bearish performance comes amid poor on-chain data.
According to Santiment’s Social Dominance metric for Cardano, the current outlook for the cryptocurrency remains bearish. The index measures the share of ADA-related discussions across the cryptocurrency media.
This metric has consistently declined since mid-November, reaching an annual low of 0.032% on Thursday. This dip indicates fading market interest and weakening sentiment among Cardano investors.
As more traders move their coins from wallets to exchanges, ADA continues to face selling pressure as investors decrease their exposure to the market.
On the derivatives aspect, data also supports a further bearish outlook for ADA. Coinglass’s OI-Weighted Funding Rate data show that the number of traders betting that the price of ADA will decrease as more traders expect a price decline in the near term.
The OI-Weighted Funding Rate turned negative on Thursday, down 0.0019%, suggesting that shorts are paying longs. If this metric flips negative, ADA usually faces heavy selling pressure.
ADA could retest $0.30 as bears remain in control
The ADA/USD 4-hour chart is bearish and inefficient as Cardano has underperformed over the past few days. The coin faced rejection from the upper trendline of the falling wedge pattern on December 9 and has lost 22% of its value since then.
At press time, ADA is trading at $0.36 and could dip lower in the near term. If ADA continues its downward trend, the bears could push the price towards the October 10 low of $0.27.
The Relative Strength Index (RSI) on the 4-hour chart reads 31, nearing oversold territory, indicating strong bearish momentum. Furthermore, the Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on Monday, further supporting the negative outlook.
If the bulls regain momentum, ADA could rally towards the 50-day EMA at $0.47 over the next few days.
The post ADA could slip below $0.30 as bearish momentum builds appeared first on CoinJournal.
Bitcoin eyes $90k ahead of CPI: Check forecast
Key takeaways
- BTC is up by less than 1% and is trading above $87k.
- The market is preparing for the CPI data release in a few hours.
Bitcoin trades above $87k
The cryptocurrency market has been choppy since the start of the week, with most coins and tokens currently trading in the red. Bitcoin is trading at $87k after losing the $90k psychological level earlier this week.
The bearish performance comes ahead of the release of the CPI data in the United States later today. U.S. inflation data for November, expected to show a 3.1% increase in CPI, could influence Federal Reserve interest rate decisions.
With the October CPI absent due to the government shutdown, the November CPI will give investors a fresh look at price pressure.
Some analysts are optimistic that Bitcoin could experience a temporary relief in the near term. Nick Forster, Founder at the onchain options platform, Derive.xyz, stated that,
“BTC positioning remains decisively bearish. 30-day BTC volatility has climbed back toward 45%, while skew hovers around -5%. Longer-dated skew is also anchored around -5%, signalling that traders are pricing continued downside risk through Q1 and Q2, as ongoing sell pressure from previously inactive wallets weighs on spot prices.”
The analyst added that for BTC, the probability of reaching $100K sits near 30%, while the chance of reclaiming all-time highs remains around 10%.
BTC could risk a deeper correction
The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has underperformed over the past few days. The bearish performance comes after Bitcoin’s price faced a rejection from a descending trendline on Friday and has lost 7% of its value since then.
The leading cryptocurrency retested the $85k support level on Wednesday but has bounced back and is now trading above $87k per coin.
If the correction continues and Bitcoin closes the daily candle below the $85,569 support, Bitcoin could extend the decline toward the psychological $80,000 level.
The Relative Strength Index (RSI) on the daily chart is at 41, below its neutral level of 50, indicating bearish momentum gaining traction. Moreover, the Moving Average Convergence Divergence (MACD) lines are also within the bearish region.
However, if BTC recovers and closes above $85,569, it could extend the rally towards the resistance level at $94,253.
The post Bitcoin eyes $90k ahead of CPI: Check forecast appeared first on CoinJournal.
Binance erwägt Rückkehr in die USA, neue Strategie samt Rückzug von CZ
Um die Rückkehr auf den US-Markt zu schaffen, fährt Binance eine neue Strategie, die unter anderem eine deutlich geringere Beteiligung von Changpeng Zhao vorsieht.