Kategorie: Crypto News

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PI could dip below $0.20 amid a strong bearish sentiment

Key takeaways

  • PI is down 1% in the last 24 hours and is now trading below $0.21.
  • The coin could drop lower as the bearish sentiment grows stronger.

Pi core team transfers 2 million tokens

PI is down 1% in the last 24 hours despite the broader crypto market recovering from its recent slump. The negative performance comes after an outflow of 2 million PI tokens from the Pi core team’s liquidity reserve wallet. 

Usually, such transfers are a strategic movement of supply for rewards of operations. This is usually followed by a bearish movement in the price action of the cryptocurrencies.

A similar transfer of 50 million PI tokens to a different wallet two months ago saw multiple deposits to the OKX cryptocurrency exchange. At the moment, this wallet holds less than 48 million tokens after transferring over 3 million PI tokens to OKX. 

This movement could suggest that the core team is consolidating its holdings, increasing the bearish sentiment surrounding PI. 

PI could retest the $0.19 support level

The PI/USD 4-hour chart is bearish and efficient as the coin has been in the red over the past seven days. The technical indicators are also bearish, suggesting that sellers are currently in control of the market. 

The bearish performance comes after PI failed to defend the $0.2200 support level, with the bears likely to push it lower towards the $0.1919 support area. 

PI/USD 4H Chart

Failure to defend this critical level could expose PI to the October 10 low at $0.1533, which could serve as its all-time low support.

The RSI of 37 is below the neutral 50, indicating that the bears are currently in control of the market. The MACD lines are also within the negative territory, suggesting a bearish momentum. 

However, if the bulls recover the momentum, PI could rally and test the 50-day Exponential Moving Average at $0.2364. The bullish trend will resume once PI crosses the $2.500 psychological level.

The post PI could dip below $0.20 amid a strong bearish sentiment appeared first on CoinJournal.

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Crypto overview: Markets calm as $4.3B in BTC and ETH options expire

  • Over $4.3 billion in Bitcoin and Ethereum options will expire today, December 12.
  • BTC trades above $92,300, with a maximum pain level at around $90,000.
  • Data shows balanced calls and puts, signaling a cautious stance among traders.

Cryptocurrencies remained elevated on Friday as Bitcoin recovered from post-FOMC retracements.

While most tokens trade below their key resistance zones, today’s gains brightened the mood across majors as uncertainty dominates even after the highly anticipated December 10 rate cut.

Amidst the optimism, the primary story remained the over $4.3 billion in Bitcoin and Ethereum options expiring today, on December 12.

With BTC price pinned above $92,300, analysts believe the event could shape the broader market’s trajectory as we close 2025.

Markets steady amid balanced expiry

Deribit revealed a curiously balanced options board, with 18,974 call contracts and 20,852 put contracts, for a combined open interest of 39,826.

Most importantly, a 1.10 put-call ratio confirms balance, with neither side dominating the market.

Clearly, there are no aggressive actions or euphoric calls that generally herald parabolic moves.

Rather, traders have positioned themselves to keep price fluctuations predictable and tight.

And that seems to work, as Bitcoin and Ethereum traded calmly as billions in notional value near a deadline.

Deribit analysts stated:

BTC positioning is tightly centered around the $90K level. Call and put interest sit in near balance, suggesting traders expect a contained expiry after the recent range-bound tape.

$90,000 as the magnet

The crypto community’s attention remained on the max pain region of $90,000 – where options bulls stand to suffer.

Generally, whales or market movers drive prices toward max pain.

Meanwhile, Derbit’s chart shows puts stacked massively between $75,000 and $85,000, with call interest heavy at $95,000 – $100,000.

Thus, Bitcoin is hovering at the most balanced region of around $90,000 – $92,000.

That indicates a calm market with no dramatic moves.

On the other hand, Ethereum is trading at $3,250, above its $3,100 max pain level, with open interest of 237,879 comprising 130,579 put contracts and 107,282 call contracts.

That leads to a 1.22 put-call ratio and approximately $770 notional value.

Indeed, Bitcoin is displaying restraint despite the massive notion value (nearly $3.7 billion is linked to BTC options only).

There’s no such thing as sudden liquidations, panicked shakeouts, or forced price gains.

That level of calmness during high-stakes events like options expiry seems rare, leaving most market players alert.

A market that ignores imminent pressure often waits for the next catalyst.

What’s next?

Options expiry weighs on crypto prices, and digital tokens often set clear directions after the event.

The options will expire at 8 pm UTC, and traders will closely watch post-performance.

Clearing $93,000 – $94,000 can trigger near-term recovery, with fresh calls toward the $100,000 psychological mark.

However, losing $90,000 could mean a continued near-term struggle for Bitcoin.

Meanwhile, traders and investors will watch signs of thin liquidity amid holiday sessions, which often intensifies moves, and year-end institutional repositioning through key indicators like ETFs.

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Binance under scrutiny over response to South Korean police request in Upbit breach case

  • South Korean police asked Binance to freeze Solana tokens linked to the Upbit breach on Nov. 27.
  • Binance reportedly froze about $55,000 after a delay of roughly 15 hours.
  • The Upbit breach involved unauthorised Solana-based withdrawals worth about $36 million.

South Korean authorities are examining how overseas crypto platforms respond to urgent law enforcement requests after new details emerged about Binance’s handling of a police freeze request linked to a security breach at Upbit.

The case has become a reference point for how quickly stolen digital assets can be contained once they leave domestic exchanges and move across borders.

While cooperation between exchanges and regulators is often described as routine, the Upbit incident shows how verification processes and response times can shape the outcome of active investigations.

The situation has also renewed attention on whether existing cross-border coordination mechanisms are sufficient when hacks involve large sums and fast-moving assets.

Freeze request and delayed action

According to South Korean broadcaster KBS, police investigating the Upbit breach asked Binance to freeze Solana tokens worth about 470 million Korean won, or roughly $370,000, on Nov. 27.

Investigators believed the funds were linked to wallets connected to the incident at Upbit, one of the country’s largest cryptocurrency exchanges.

KBS reported that Binance ultimately froze around $55,000, equivalent to about 17% of the amount requested.

The freeze came after a delay of approximately 15 hours.

Binance reportedly told authorities that additional verification was required before it could act on the full request.

The gap between the amount requested and the amount frozen has become central to questions about enforcement speed.

Impact of the Upbit breach

The police request followed unauthorised withdrawals of Solana-based assets from Upbit valued at roughly $36 million.

The scale of the breach prompted a formal police probe and a broader effort by the exchange to trace and recover funds across multiple platforms.

As part of the response, Upbit has been tracking wallet movements and alerting major global exchanges to assets suspected of being linked to the breach.

The case illustrates how quickly stolen crypto can be distributed, making early intervention critical once an incident is detected.

Broader enforcement challenges

The incident has drawn attention to structural issues in global crypto enforcement.

KBS cited commentary highlighting that rapid initial freezes can limit losses in hacking cases, while delays can allow assets to be moved or laundered further.

Concerns have also been raised about exchanges citing legal or litigation risks when responding cautiously to foreign law enforcement requests.

The discussion has included proposals for tighter coordination, such as direct emergency communication channels between major exchanges with the authority to enact temporary freezes while verification is completed.

These ideas reflect ongoing debates about balancing due process with the need for swift containment.

The post Binance under scrutiny over response to South Korean police request in Upbit breach case appeared first on CoinJournal.

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Pudgy Penguins (PENGU) crashes 10% in 24 hours as memecoin market weakens

  • Pudgy Penguins  (PENGU) price fell to lows of $0.010 as altcoins crashed on Thursday.
  • The token’s dip extends losses seen in the past months.
  • Bitcoin’s slip amid the AI market downturn impacted PENGU’s price.

Pudgy Penguins (PENGU) has taken a significant price hit in the past 24 hours, with the memecoin token plummeting more than 10% to lead the top 100 losers on the day.

At the time of writing, PENGU price hovered around $0.01085. The token broke from under $0.0100 to touch highs of $0.013 earlier in the week.

However, with cryptocurrencies showing weakness, the token has erased all these gains.

Pudgy Penguins tanks 10% as altcoins slip

The Pudgy Penguins ecosystem, which boasts an NFT collection and burgeoning token utility, has had it rough in the past few months.

After surging to above $0.043 in July, a downward spiral saw PENGU slip to a low of $0.0097 on December 2, 2025.

While bulls masterminded a slight uptick to above $0.013, the PENGU token, which powers community initiatives like merchandise drops and digital collectibles, has once again shed gains.

By paring by more than 10% of its value within a single day, the token is now staring at 30% declines in the past month.

The token has one of the steepest declines among the top 100 cryptocurrencies by market capitalization in the past year. On December 11, Pudgy Penguins’ trading volume dropped 12% to $243 million.

Analysts see this as a signal of reduced selling pressure after the latest declines were accompanied by huge surges in volume.

PENGU price outlook

The PENGU price decline is emblematic of a wider bearish assault across cryptocurrencies.

As Bitcoin sees bearish pressure, altcoins have dropped to key support levels. Memecoins, which have failed to rally amid declines for Dogecoin and others, lead some of the sectors with huge losses.

Global equity markets also faltered after the previous session’s gains.

In this case, a lack of momentum after the US Federal Reserve cut interest rates has dampened broader risk appetite. PENGU’s correlation with top alts and memecoins amplifies the potential for further declines.

Overleveraged positions from recent gains could catalyse an unfolding scenario of downward action. A drop below $0.010 will be bad news for bulls.

Sellers could even target $0.004, an area near all-time lows seen in April 2025.

However, catalysts such as upcoming ETF decisions and broader adoption suggest bulls may not be done yet.

Investors will eye these and other reversal cues. A path forward remains treacherous as the bear run rolls in, but price reclaiming $0.013 is key. PENGU’s bullish levels are above $0.04.

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Hedera (HBAR) crashes below $0.13 as Fed rate cut roils crypto markets

  • Hedera price fell to under $0.13 on Thursday as the cryptocurrency toiled.
  • The HBAR token struggled amid losses for Bitcoin after the Fed rate cut.
  • AI jitters that had Oracle stock down sharply did not help bulls.

The cryptocurrency market has shuddered as the Federal Reserve’s anticipated interest rate cut came laced with a notably hawkish undertone, sending ripples through risk assets.

Hedera’s native token, HBAR, mirrored broader losses for altcoins as indecisive bulls watched it plummet by more than 5%. The selling pressure showed in the spike in daily trading volume.

Hedera price dips under $0.13 amid downside pressure

Hedera’s price has sharply dipped in the past 24 hours, dropping to under $0.13 as top coins like Bitcoin and Ethereum suffered sell-offs.

Losses for HBAR, alongside Bitcoin’s slip below $90,000, came despite the Fed’s  interest rate decision.

The US central bank lowered the federal funds rate by 25 basis points on December 10, 2025. to a range of 3.5% to 3.75%.

Like many other cryptocurrencies, HBAR traders have found little solace in the Fed’s gesture.

With a hawkish central bank and jitters around the AI sector, Hedera price followed the outlook across risk assets.

The token, which had hovered around $0.14 earlier in the day, dropped to a low of $0.1293 in early US trading hours.

HBAR Price Chart
Hedera price chart by CoinMarketCap

Can Hedera price bounce?

After an initial bump on the Fed news on Wednesday, the S&P 500 has shed gains as Oracle’s disappointing results drag down other AI stocks. Oracle shares fell 15% and Nvidia, CoreWeave and AMD all dropped.

But stocks remain near record highs and analysts’ view is that Bitcoin and crypto could still eye recent peaks.

If BTC plays catch-up successfully with a breakout above $100,000, bounces for altcoins could see HBAR reclaim key levels.

Year to date, the S&P 500 is up by more than 17%. In comparison, Bitcoin is down more than 3% and HBAR is down by over 50%.

Despite the downturn that has unfolded over the past year, Hedera touts multiple key milestones likely to keep bulls in play.

Potential catalysts

As well as expanded government adoption initiatives and industry partnerships, there’s a notable presence across decentralized finance (DeFi) and real-world asset tokenization.

The launch of spot crypto ETFs is another major boost for HBAR.

HBAR’s trajectory may thus appear precarious. Indeed, the token could dump further and touch levels near $0.10 or lower in the short term.

The relative strength index (RSI) below 50 and a price breakdown to under the 50-day exponential moving average signal potential fresh pain for bulls.

Yet, with HBAR, one of the tokens seeing major enterprise integrations and a growing DeFi ecosystem, a bounce is likely.

How crypto navigates a hawkish environment will give an additional picture of what’s next for the token.

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