Kategorie: Crypto News

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Ethereum price prediction: ETH could dip to $4k amid bearish PA

Key takeaways

  • ETH is down 1.6% in the last 24 hours and has dropped below $4,200.
  • The bears are aiming for $4k as the broader crypto market experiences a sell-off.

ETH fails to defend its price above $4,200

Ether, the second-largest cryptocurrency by market cap, failed to hit a new all-time high last week and has since lost 10% of its value. It is currently down by 1.6% in the last 24 hours and now trades at $4,170 per coin.

The bearish performance comes as the broader cryptocurrency market experiences a sell-off. Bitcoin is down 8% since its all-time high milestone last week and temporarily dropped below $113k. XRP has dropped below $3 while Solana has failed to stay above $200.

Analysts believe that profit-taking is one of the primary reasons behind the bearish price action. In an email to Coinjournal, Ruslan Lienkha, chief of markets, YouHodler, stated that,

Profit-taking is indeed occurring at the moment, and in many cases, it reflects disciplined risk management. This is particularly true in the current environment, where institutional discussions increasingly emphasize that we may be entering the later stages of the bull market. A growing number of fund managers point out that U.S. equities appear overvalued, suggesting that the medium-term bullish trend could be approaching its end.

The analyst added that while long-term investors are generally less affected by these short-term dynamics, those operating within medium-term horizons, such as two- to three-year cycles, often adopt relative strategies that encourage them to secure gains when markets look stretched. In this context, realized profits may signal not so much a lack of confidence in further upside, but rather prudent portfolio management in anticipation of potential volatility.

ETH could drop to $4k as bears remain in control

The ETH/USD 4-hour chart has switched bearish despite the Ethereum price reaching a new yearly high of $4,788 on Thursday. The coin failed to continue its upward trend and declined nearly 14% since then. 

At press time on Wednesday, it trades at around $4,170. The technical indicators are bearish, with the RSI (35) and the MACD lines showing a strong sell-off in the market. 

XRP/USD 4-hour chart

If the daily resistance at $4,232 holds as resistance, ETH could dip towards its next key support at $3,946. An extended bearish run would see Ether retest the $3,300 low for the second time this month.

However, if ETH recovers and closes above the daily resistance at $4,232, the bulls could push its price higher and target the $4,488 level. It would need the support of the broader crypto market to hit the $4,788 yearly high.

The post Ethereum price prediction: ETH could dip to $4k amid bearish PA appeared first on CoinJournal.

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Crypto update: Bitcoin slips as analysts warn of ‘fragile’ market structure

  • Bitcoin and Ether prices are falling despite positive industry news.
  • A key disconnect exists between weak price action and strong fundamentals.
  • Glassnode warns of market fragility and stretched leverage in the short term.

A profound and unsettling disconnect is cleaving the cryptocurrency market in two as the trading day begins in Asia.

While a torrent of structurally bullish headlines points to a maturing and increasingly powerful industry, the price action on screen tells a story of weakness, fear, and retreat.

This growing chasm between the long-term promise and the short-term pain has left investors caught in a tense tug-of-war.

The immediate picture is painted in red. Bitcoin is down 3% in the past 24 hours, struggling to hold the line at $113,000.

Ether is suffering even more, having shed 5.6% to land at $4,100, extending a week of bruising losses across the major digital assets. This persistent pullback is happening in the face of news that would, in any other environment, be sending prices soaring.

The view from the charts: a structure of sand?

For one camp of market observers, the current weakness is a simple function of a fragile and overextended market structure.

In a recent report, the analytics firm Glassnode frames the decline as a textbook case of exhaustion: spot momentum is fading, leverage is dangerously stretched, and the pressure from profit-taking is building to a critical point.

They warn that even the massive $900 million in inflows into U.S.-listed spot ETFs last week is not enough to sustain the rally on its own.

Without a renewed wave of conviction buying in the spot markets, Glassnode argues, the market’s positioning remains acutely “vulnerable to deeper deleveraging.”

A foundation of steel

This pessimistic view, however, is far from universal. Another camp argues that fixating on the short-term price action is a classic case of missing the forest for the trees.

The Singapore-based market maker Enflux, in a note shared with CoinDesk, contends that the industry is maturing at a pace that the charts are simply failing to capture.

They see the weak price action as a temporary “disconnect” and urge traders to focus on the truly significant headlines: Google becoming the largest shareholder in miner TeraWulf, Wyoming launching a state-backed stablecoin, and Tether hiring a former White House crypto policy official. 

These are not fleeting signals, Enflux argues; they are proof that serious capital and top-tier talent are aligning around a future that is institutional, regulated, and built to last.

The divergence in tone is telling. One side sees a house of cards, the other sees the scaffolding of a skyscraper being erected.

The shadow of the Fed

This internal conflict is being amplified by a powerful external force: the Federal Reserve.

The entire market is holding its breath ahead of the Fed’s FOMC minutes and, more importantly, Chairman Jerome Powell’s pivotal speech at the Jackson Hole symposium later this week.

With economists from institutions like Bank of America warning that Powell may argue for holding rates steady amid sticky inflation, the easy-money hopes that have buoyed risk assets are beginning to fade.

This macro uncertainty is forcing a reckoning in the crypto market, where the short-term fragility is clashing head-on with the long-term fundamental strength. The question now is which narrative will break first.

The post Crypto update: Bitcoin slips as analysts warn of ‘fragile’ market structure appeared first on CoinJournal.

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Bitcoin at risk of a 51% attack from two miners

  • Foundry USA and AntPool now control over half of Bitcoin’s hash power.
  • Bitcoin price is slipping toward $110,530, a crucial support level.
  • Macro fears and Fed shifts add pressure to already weak crypto markets.

After Monero’s 51% takeover, two Bitcoin mining pools have sparked fears of a potential 51% attack on Bitcoin.

Notably, the developments have raised critical questions about the security of the Bitcoin network and the stability of the wider crypto market.

Also, the concerns over mining centralisation have intensified just as BTC faces steep price declines and broader macroeconomic pressures.

Two mining pools dominate Bitcoin’s hash power

Two major mining pools, Foundry USA and AntPool, now control more than half of Bitcoin’s total computing power.

Foundry even mined eight consecutive blocks in a row, an event that is extremely rare and has heightened fears of network centralization.

With over 51% of the hash power concentrated in just two entities, experts warn that Bitcoin is technically vulnerable to a 51% attack.

In such a scenario, the dominant miners could potentially reorganize blocks, censor transactions, or undermine trust in the network.

While such an attack would be extremely costly and perhaps self-defeating, the centralization trend has raised red flags across the community.

Rising empty blocks and collapsing fees

Alongside the hash power imbalance, analysts have noted an increase in the number of empty blocks being mined.

Empty blocks generate lower transaction fees, which has led to collapsing revenues for miners and less efficient network usage.

This situation has further fueled concerns about the long-term sustainability of the Bitcoin ecosystem, particularly as users demand greater efficiency from the blockchain.

Although some commentators argue that a 51% attack would require an astronomical investment, estimated at around $1.1 trillion, they also admit that the risk of manipulation grows when power becomes too concentrated.

Supporters of Bitcoin believe that no rational actor would spend such sums to destroy the very network that sustains their investment.

Still, the perception of risk is enough to shake market confidence.

Bitcoin price slides toward key support levels

The security fears are unfolding at a delicate moment for Bitcoin’s price.

After reaching an all-time high of $124,000 just last week, Bitcoin (BTC) has fallen sharply to around $113,000.

The cryptocurrency is now approaching a crucial support level near $110,530, where buyers are expected to step in.

If the price holds above that level, a rebound toward $120,000 and eventually $124,474 could follow.

Some analysts like popular X commentator BitQuant are confident that Bitcoin is still on track to reach $145,000 without ever dipping below the six-figure mark.

However, if Bitcoin breaks below the $110,530 support zone, the decline could deepen toward $107,000 or even $100,000.

Short-term charts show bearish momentum, with the relative strength index in negative territory and the 20-day moving average sloping downward.

Macro fears add pressure on crypto markets

Beyond the technical charts, macroeconomic shocks are also weighing on sentiment.

A recent shift in Federal Reserve policy, combined with Wall Street warnings about the newly passed Genius Act stablecoin bill, has unsettled investors.

There are fears that the legislation could trigger a flood of withdrawals worth up to $6.6 trillion, posing systemic risks to both banking and crypto markets.

 

 

The post Bitcoin at risk of a 51% attack from two miners appeared first on CoinJournal.

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Altcoins update: Polkadot launches institutional arm, Robinhood lists SUI

  • The Polkadot Capital Group aims to bridge Web3 and TradFi.
  • Robinhood has listed Sui, enriching its exposure to retailers.
  • On-chain activity supports LINK’s momentum.

Digital assets displayed stability on Tuesday as the crypto market cap soared 1% in the past day to $3.91 trillion.

With most tokens hovering at key price levels, let’s check altcoins dominating trends with optimistic developments.

Polkadot unveils institutional arm

Polkadot has taken another step toward institutional adoption, rolling out the Polkadot Capital Group.

According to today’s press release, the new initiative will bridge the gap between Web3 and traditional finance (TradFi).

The launch is part of an ongoing trend in the blockchain sector, where leading ecosystems pursue institutional capital.

The Polkadot Capital Group introduces a platform that enables institutions to participate in blockchain advancements, ranging from infrastructure development to staking.

The group will offer comprehensive educational resources and support engagements with crucial initiatives and participants in the Polkadot ecosystem.

The initiative will back asset management, OTC trading, VC communities, exchange, banking, and allocators.

Commenting on the latest initiative, Polkadot Capital Group Lead David Sedecca said:

Our goal is to lead through data-driven education, driving adoption through knowledge transfer, and adapting in real-time to the dynamic priorities of institutional market participants. We envision a future where institutions clearly understand the unique value of our network and can engage confidently.

The move will likely bolster Polkadot’s appeal, especially if the group succeeds in inking strategic partnerships with leading fintech companies.

DOT trades at $3.86 after losing 2% in the past 24 hours, mirroring prevailing broad market weakness.

Robinhood adds SUI

The trading platform has added Sui to its product suite.

The addition opens SUI to millions of Robinhood users, bolstering its visibility and driving liquidity into the SUI ecosystem.

Sui is an L1 designed to support blockchain adoption through a powerful, scalable, and secure development platform.

It boasts over $12.5 billion in market capitalisation.

Now, Robinhood’s listing increases SUI’s visibility.

That’s crucial for adoption and blockchain’s long-term stability.

Moreover, the listing reflects Robinhood’s dedication to enriching its digital asset offerings.

The commission-free exchange houses multiple cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin.

SUI displays stability amidst the listing news. It dropped 0.30% over the past 24 hours to $3.57.

Chainlink’s bullish momentum

LINK has defied broader trends today.

It rallied to multi-month highs above $26, fueled by elevated on-chain activity.

The Chainlink Reserve, which launched early this month, has contributed to LINK’s stability in the past few sessions.

Also, the steady demand for decentralised oracle services has kept the altcoin afloat.

Chainlink positions itself as the backbone of DeFi, offering off-chain data to smart contracts.

LINK has retraced from its 24-hour peak to $24, with a 20% decline in trading volume threatening today’s gains.

However, analysts believe it’s among the top cryptocurrencies to watch this cycle.

Michael van de Poppe expects massive rallies from LINK after overcoming its prolonged downward trend, citing the Chainlink Treasury.

Meanwhile, the cryptocurrencies exhibit significant volatility as markets brace for tomorrow’s FOMC minutes and Powell’s Jackson Hole commentary on Friday.

The post Altcoins update: Polkadot launches institutional arm, Robinhood lists SUI appeared first on CoinJournal.

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Polygon price forecast: POL surges 6% as TVL reaches 2025 high

  • Polygon token (POL) soared as most altcoins dipped on Monday and early Tuesday.
  • While POL has given up some of the gains to $0.26, bulls appear to be in control.
  • Gains for the altcoin come as its network’s total value locked (TVL) jumped to a year-to-date high.

Polygon’s native token, POL (ex- MATIC) (POL), is one of the gainers in the past 24 hours as cryptocurrencies look to bounce off the latest dump.

Altcoins such as Chainlink and XRP are eyeing fresh gains.

While POL price has slipped from highs of $0.27, it’s currently holding above $0.25 as a potential rebound coincides with a spike in the network’s total value locked (TVL).

Polygon price today

The POL token’s price is up 3% in the past 24 hours at the time of writing, and nearly 12% in the past week.

However, intraday gains reached 6% as POL rose to $0.27, with this coming amid growth in Polygon’s ecosystem, fueled by decentralised finance activity and strategic integrations.

As the price of POL rose, Polygon’s TVL, which has jumped amid bullish momentum, topped a 43% increase year-to-date.

The TVL spiking not only reflects the price gain, but the growing adoption, user trust and capital flows.

Per Token Relations, Polygon saw its total value locked metric fall to $788 million in April.

However, the metric has since witnessed a steady climb to break above $1.23 billion as of August, highlighting the blockchain network’s appeal and attraction as a DeFi player.

Stablecoin growth

Additionally, Polygon has seen a notable spike in stablecoin use.

The recent integration of Agora’s stablecoin, AUSD, on Polygon by Miomi Game is a key development.

Miomi is a web3 esports platform that boasts over 950,000 users.

Polygon also surged to a record $2.56 billion in stablecoin payments in July, with peer-to-peer transfers rising as USDC active addresses jumped to 3.16 million.

Meanwhile, USDT supply on Polygon rose to a new high of $1.29 billion during the month.

Polygon’s surge in dApps, combined with stablecoin adoption and regulatory moves, spotlights the network’s utility.

“Why are institutions building on Polygon? Trusted infrastructure, designed for greater efficiency and ready to scale for institutional demand,” Polygon Labs recently posted on X.

Polygon price prediction

Looking at Polygon’s price charts, the overall outlook is bullish.

The network’s strategic initiatives and cross-chain interactions, which are contributing to organic growth, are evidence that bulls can establish the upper hand.

Polygon’s price surge and TVL spike allude to this. Metrics such as active addresses and transactions are key to buyers breaching the supply wall around $26 and $30.

On the flip side, bears can target the psychological support level at $20.

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