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Bitcoin Cash extends losses, dumps 10% amid BTC sell-off

  • Bitcoin Cash price dropped more than 10% as bears hit the crypto market on Tuesday.
  • The altcoin fell to lows of $481 and risked further losses amid Bitcoin weakness.
  • Analysts say demand recovery could help bulls bounce.

Bitcoin Cash price has extended its downward trajectory, shedding more than 10% in value over the past 24 hours to touch lows of $481 in early trading on February 24, 2025.

The declines come as bearish sentiment grips the broader cryptocurrency market, with top coins plunging alongside Bitcoin’s fall below $63,000.

While some analysts note that the market could see a potential for a short-term recovery, prevailing headwinds favour sellers.

Other altcoins, including Ethereum, XRP, and BNB, have also marked steep declines as negative sentiment dominates.

BCH drops amid macro and geopolitical headwinds

Fresh tariff threats from US President Donald Trump, following a recent Supreme Court ruling on Trump’s 2025 tariffs, have triggered risk-off sentiment.

This has been compounded by other factors, including geopolitical uncertainty, which has prompted investors to seek safer assets and steer clear of volatile cryptocurrencies.

Weak sentiment has, in turn, suppressed crypto bids and contributed to huge outflows from digital asset investment products.

Tightening liquidity and elevated liquidations have further weighed on risk appetite, capping Bitcoin’s rebound.

The dump to lows of $62,700 for BTC accelerated losses for Bitcoin Cash amid this outlook, with bears showing greater appetite as daily volume jumped 46% to over $545 million.

Analysts say the macroeconomic picture and potential escalation in US-Iran tensions could cue further losses.

However, resolutions in favour of bulls will help cut the impact of the correction.

Bitcoin Cash price analysis

As noted, Bitcoin Cash traded as low as $481 on February 24, slipping by double digits in 24 hours as sellers pulled prices from highs of $570.

The fresh selling that has driven BCH below $500 aligns with technical indicators that paint a mostly bearish picture.

Bitcoin Cash Price Chart
Bitcoin Cash price chart by TradingView

Bitcoin Cash’s recent declines have pushed the 50-day moving average toward the 200-day moving average, outlining a possible death cross pattern.

Increased losses and confirmation will come with intensified bearish momentum.

Meanwhile, the RSI and MACD indicators are also slipping lower, signaling bearish control.

According to CryptoQuant, Bitcoin’s slide from near $68k to under $63k coincides with the Coinbase Premium Index (SMA 30) rejecting downward.

The index gauges price premium on Coinbase versus global exchanges, and its downtrend for over a month suggests US selling pressure remains.

Failure to recover in the latest sessions highlights continued institutional hesitation.

Analysts at Bitfinex also share a similar outlook.

If Bitcoin drops to $50k or lower, a cascade of sell-off pressure will exacerbate BCH’s losses.

In the short term, BCH faces continued selling toward $425 and possibly $378.

On the upside, initial resistance is at the $500 mark, and then the moving average levels.

Currently, the 50-day and 200-day MA are converging near $560-$566.

The post Bitcoin Cash extends losses, dumps 10% amid BTC sell-off appeared first on CoinJournal.

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LINK price rebounds as SEC taps former LINK lawyer to head crypto task force

  • SEC hires ex-Chainlink lawyer Taylor Lindman to head Crypto Task Force counsel.
  • LINK rebounds near $8 but is still down about 51% over the past year.
  • Chainlink (LINK) price analysis shows support at $6.80 and resistance near $8.19.

Chainlink (LINK) has rebounded slightly, though it is still in the red as the US SEC taps Chainlink’s veteran Taylor Lindman to head the Crypto Task Force counsel.

At press time, LINK was currently trading at around $8.18, recovering slightly from a low of $8.13. This rebound comes amid broader market volatility that has seen LINK fall roughly 51% over the past year.

SEC taps Chainlink veteran for crypto regulation

The US Securities and Exchange Commission (SEC) has appointed Taylor Lindman, formerly a senior legal officer at Chainlink Labs, as chief counsel for its Crypto Task Force.

Lindman brings over five years of experience in blockchain and regulatory compliance.

He played a key role in advising Chainlink on legal matters and navigating complex digital asset regulations before his departure in February 2023.

Lindman’s move to the SEC signals that regulators are increasingly interested in professionals with hands-on experience in decentralised finance (DeFi) and smart contract ecosystems.

SEC Commissioner Hester Peirce, who leads the Crypto Task Force, welcomed Lindman’s appointment.

Analysts suggest that Lindman’s expertise could influence future guidance and enforcement actions around digital assets.

LINK price performance

The market appeared to respond positively with institutional investors, including firms like Grayscale, steadily accumulating LINK tokens.

The continued institutional interest, combined with Lindman’s transition to the SEC, has reignited confidence in Chainlink’s long-term positioning.

Short-term technical indicators show that LINK recently found support at around $6.80, while the resistance at $8.19 has limited upward movement in the past.

The rebound above $8 could open the door for higher price action, while a fall below $6.80 might signal further downside risk.

Short-term LINK price prediction

With regulatory developments and institutional interest converging, LINK is drawing attention from both traders and long-term investors.

Its price movement over the next few weeks will likely reflect a mix of market sentiment, technical pressure, and evolving regulatory signals.

For short-term traders, analysts have highligted $6.80 as the immediate key short-term support level to watch. Holding above this level would suggest that the market is stabilising after recent volatility.

If LINK can break through the $8.19 resistance, the next target would be $9.51.

A sustained move above $10.80 could indicate stronger bullish momentum, attracting further buying interest.

On the downside, if the $6.80 support fails, traders should monitor the $5.38 zone as a potential safety net.

Price action around these levels will be critical in defining LINK’s short-term trend.

The post LINK price rebounds as SEC taps former LINK lawyer to head crypto task force appeared first on CoinJournal.

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Terra Classic (LUNC) price in focus as Terraform Labs sues Jane Street

  • Terraform lawsuit vs Jane Street puts Terra Classic (LUNC) in focus.
  • Terra Classic (LUNC) shows technical resilience, eyeing $0.00003925 short-term.
  • 2026 price range is expected to be between $0.0000242 and $0.000510.

The price of Terra Classic (LUNC) has been under the spotlight as legal tensions surrounding its parent company, Terraform Labs, continue to unfold.

Investors are watching closely after news emerged that the administrator overseeing the wind-down of Terraform Labs has sued trading firm Jane Street. 

The lawsuit alleges the trading firm used non-public information from Terraform insiders to profit ahead of the collapse of TerraUSD in May 2022.

This legal move adds a new layer of uncertainty for LUNC holders.

Many remember that the original Terra blockchain was rebranded as Terra Classic after the collapse, while a new Terra 2.0 network was launched.

LUNC now trades at around $0.00003509, down roughly 46% over the past year, with a circulating supply of approximately 5.47 trillion coins.

Jane Street charges

The lawsuit centres on allegations that Jane Street gained access to confidential data through back channels.

This allegedly allowed the firm to strategically withdraw significant amounts of UST from liquidity pools just minutes after Terraform executed internal moves.

The complaint claims these trades contributed to the broader collapse of the stablecoin and accelerated losses for Terraform’s creditors.

Jane Street has denied the allegations, calling the claims baseless and emphasising that the market turmoil was driven by internal mismanagement within Terraform.

Legal observers note that the case could have implications not only for the firms involved but also for market perception around LUNC and other related assets.

LUNC price analysis

Despite its turbulent history, LUNC has shown some resilience.

The coin has been trading in a range of $0.0000343 to $0.00003516 over the past 24 hours, reflecting a small degree of stability.

Analysts like For-Exx Kripto note that the coin has remained inside a flag formation, though the pattern recently experienced a slight break.

This break could have signalled a sharp decline, yet LUNC did not fall dramatically.

This can be interpreted as a bullish signal in the short term, suggesting that a price attempt toward $0.00003925 could be on the horizon.

While the coin remains far from its historical highs, such technical patterns provide hints about potential upward momentum despite broader market challenges.

Trading volume has also been modest, with about $8.9 million changing hands in the last 24 hours.

Terra Classic price prediction

Looking ahead, analysts project that LUNC could trade within a wide range in 2026.

The minimum expected level is around $0.0000242, while the maximum target could reach $0.000510 by the end of the year.

Key levels to watch include support near the $0.000024 mark, which may act as a floor in case of market weakness.

Resistance lies around $0.000510, representing a potential upside target for traders seeking gains.

Short-term moves toward $0.00003925 could also provide intermediate targets, especially if the market reacts positively to technical signals or news from ongoing legal developments.

The post Terra Classic (LUNC) price in focus as Terraform Labs sues Jane Street appeared first on CoinJournal.

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BNB coin price outlook as Binance stablecoin reserves hits lowest levels

  • BNB coin struggles below $600 as regulatory noise clouds short-term sentiment.
  • Falling stablecoin reserves point to weaker liquidity and cautious traders.
  • A key Binance coin price support sits near $573, while bulls must reclaim $597 to regain momentum.

Binance Coin (BNB) is under pressure as the broader crypto market flashes mixed signals.

As the BNB coin continues to fall, recent exchange data from CryptoQuant shows that stablecoin reserves held on the Binance crypto exchange have fallen to their lowest levels in several months.

Falling stablecoin reserves raise liquidity concerns

Stablecoins are often treated as dry powder in the crypto market.

When reserves decline on major exchanges, it usually means capital is being pulled out rather than positioned for new buys.

The latest drop in Binance’s stablecoin balances suggests traders are either de-risking or waiting on the sidelines.

This reduction in available liquidity can weaken short-term price support across major assets, including Binance Coin.

Lower reserves also reduce the market’s ability to absorb large sell orders, increasing the risk of sharper moves during periods of volatility.

For BNB, this matters because its price tends to be closely linked to activity and confidence on the Binance platform.

Bitcoin inflows and shifting trader sentiment

As the stablecoin reserves on Binance drop, Bitcoin balances on Binance have climbed to their highest levels since late 2024.

An increase in BTC held on exchanges is often interpreted as potential selling pressure or preparation for active trading.

This shift can increase short-term volatility across the market and spill over into altcoins like BNB coin.

Combined with falling stablecoin reserves, it paints a picture of traders repositioning rather than aggressively buying.

Such an environment usually favours range-bound trading instead of strong trend moves.

Market hesitation

Binance Coin has failed to hold above the $600 level, a zone that had acted as support earlier in the year.

Although momentum indicators like the Relative Strength Index (RSI) suggest selling pressure has cooled slightly since the coin is currently oversold, there is not enough buying pressure to confirm a trend reversal.

Binance coin price chart
BNB coin price chart | Source: TradingView

While buyers appear active near lower support zones, follow-through has been limited.

This type of price behaviour often precedes either a consolidation phase or a sharper move once liquidity returns.

BNB coin price forecast

The BNB price forecast now depends heavily on how it reacts around well-defined technical levels.

The first level traders should watch, according to analysts, is $573.49, which has acted as short-term support.

A clean break below that area could open the door for a move toward the next support near $543.03.

On the upside, $597.41 remains the key resistance level that bulls must reclaim.

A decisive move above that zone would likely encourage a push toward $619.48, with $642.11 standing as the next major resistance.

However, as long as stablecoin liquidity remains tight, upside moves may struggle to sustain momentum.

The post BNB coin price outlook as Binance stablecoin reserves hits lowest levels appeared first on CoinJournal.