Schlagwort: crypto business

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Bitcoin touches $70k as analyst warns of ‘calm before storm’ for miners

Bitcoin price touched the $70,000 price level for the first time since June 12, reaching highs of $70,016 on Bitstamp.

The rebound to above the $70k level has bulls eyeing a new upward push that could take Bitcoin beyond its all-time high above $73k reached in March.

What are analysts saying about Bitcoin price?

While BTC targets strengthening above the psychological level, a crypto analyst at CryptoQuant warns that miners are likely to see further outflows and contribute to new sell-off pressure for BTC.

According to XBTManager, miners have moved BTC from their wallets at recent price levels. The previous support level for the miner capitulation was around $53k.

However, Plan B, the creator of the stock-to-flow (S2F) model, shared his prediction earlier in the day suggesting miner revenue bottomed. Per the analyst, it is possible Bitcoin price could surge to double current value in three to five months.

The Bitcoin 2024 momentum seems to be providing the upward momentum for BTC seen over the past three days. However, after piercing $70k, the top coin’s price is sharply back lower to currently trade near $69,500.

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Bitcoin Cash jumps 14% to hit $450 as BTC eyes $70k

  • Bitcoin Cash (BCH) gains mirror Bitcoin’s surge to near $70k.
  • With Bitcoin Cash price rising above $450, are bulls strong enough to eye further gains?

Bitcoin Cash (BCH) rose more than 14% in 24 hours to trade above $450, its highest level since mid-June.

BCH gained as Bitcoin (BTC) moved to within reach of $70,000 following a 3% rise in 24 hours. The benchmark digital asset traded around $69,503 at the time of writing on July 29, slightly off its intraday highs above $69,800 reached during the Asian trading hours.

BCH price: Are Bitcoin Cash bulls back?

Bitcoin Cash, like Bitcoin, has in the past few weeks navigated a tough terrain in terms of sell-off pressure related to potential Mt. Gox selling.

However, Bitcoin remains above $60k with a good chunk of the staggering $9 billion worth of BTC that the defunct crypto exchange announced would be going to customers. This resilience has also shown with Bitcoin Cash, which continues to ride positive sentiment as Mt. Gox customers choose to hodl rather than sell.

Crypto is also upbeat after last week’s Bitcoin 2024 conference that saw former US president Donald Trump make major announcements related to Bitcoin and cryptocurrencies. With elections on the horizon, Trump pledged to make America the home of crypto and to establish a Bitcoin reserve for the US among other key remarks.

According to Kim Dotcom, there’s no fear that the US government will ban crypto.

BCH price prediction

The Bitcoin Cash price surging above $400 has the cryptocurrency testing a key resistance zone.

A move above this means bulls have broken above a robust horizontal resistance line. Price is currently retesting a previous support area, above which the altcoin could eye a new year-to-date high.

In this case, the psychological level at $1,000 will be a major short term target, while a run to the 2021 bull market highs remains possible if Bitcoin leads crypto into another mega run.

BCH price chart. Source: TradingView

The daily chart shows the Relative Strength Index (RSI) supports buyers as does the Moving Average Convergence Divergence (MACD) indicator.

Potentially, BCH will see a retest of the horizontal line before surging again. However, a breakdown will likely push prices to the primary support area around $350.

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Casper halts network after security breach

  • Casper Network said it halted the network after discovering a significant security breach
  • The team has identified the threat and contained it, Casper Network said in an update.
  • Casper Association, Casper Labs and validators/community are collaborating to patch the vulnerability.

Casper Network has halted its network operations following a security breach, the smart contracts blockchain platform announced via X.

In the statement targeted at Casper Network users and the broader crypto community, the Casper team noted that it had worked with validators to halt operations and mitigate the potential impact of the breach.

“We discovered a significant security breach on the Casper Network. In order to minimize the effects of this security breach, we have worked with the validators to halt the network until this security breach has been patched,” reads part of the announcement.

Issue contained

The temporary network pause will remain in place until the security team patches the vulnerability, Casper added.

According to the announcement, efforts to address this issue involves the Casper Association, Casper Labs, and the crypto project’s validator community.

Casper Network also posted an update indicating that its team had identified the issue and managed to contain it. However, the platform is still working on a solution to the security breach and will provide a further update to the community.

The Casper (CSPR) token changed hands around $0.019 at the time of writing.

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Bitcoin could rally towards $68k as Poodlana’s presale hits $3m

Key takeaways

  • BTC has recovered from its recent poor performance and is now targeting the $68k level. 
  • The Poodlana presale has surpassed $3m after raising more than $500k in four days.

BTC approaches $68k

The cryptocurrency market has had a rollercoaster week. Bitcoin underperformed earlier this week, hitting the $63k level due to the Mt.Gox BTC and BCH dump in the market.

However, the market began to recover later on and Bitcoin is now approaching the $68k level. At press time, the price of Bitcoin stands at $67,538, up by 1% in the last seven days. If the bullish momentum is built upon, BTC could be heading towards the $69k resistance level in the coming days. 

What is Poodlana?

The cryptocurrency market is slowly recovering following its recent bearish run. The bearish run didn’t stop investors from pushing funds into new and promising projects. One of the projects in this category is Poodlana. 

Poodlana is a Solana-based meme coin focused on introducing the glamor of high fashion to the crypto world. The plan is to make Poodlana the leading dog-themed meme coin on the planet, with the developers leveraging the ethos of community-driven growth to reach its goal. 

The popularity of the Poodlana dog breed in Japan, Korea, and China, and their love for meme coins would be crucial in building a strong community for this project. Poodlana wants to become a bigger dog-themed meme coin, surpassing the two giants, Shiba Inu and Dogecoin. 

Poodlana’s presale hits $3m

The Poodlana presale began eleven days ago and will last for 30 days. The project has raised more than $3 million in the last elevel days as more investors troop into the project. 

In the current stage, the POODL token goes for $0.0299 but will increase to $0.0335 in the next presale stage. Investors can purchase this token using SOL, BNB, ETH, USDT, USDC, and Fiat/card payment options.

According to the development team, Poodlana will not have a lock-up period for their tokens. The POODL presale will end on August 16 and the listing on exchanges will take place immediately after. 

Read more about the Poodlana presale here. 

50% of Poodlana’s total supply goes to presale

The Poodlana tokenomics is simple as the team values total transparency in its operations. The team will issue 1  billion POODL tokens, with 50% going presale. The remaining 50% will be divided among marketing (15%), rewards (5%), partnerships (5%), treasury (10%), and liquidity (15%). The Poodlana team assured investors that 100% of tokens will be unlocked on day one, with no lock-ups or vesting periods.

Furthermore, the unsold tokens would be burned after the presale, ensuring the deflation of the token, (which could lead to a price increase). 

Is it a good idea to buy Poodlana tokens?

Poodlana is a meme coin that holds a lot of promise. However, the ultimate decision to invest or not depends on the investor. Meme coins have become a crucial part of the cryptocurrency ecosystem, with several of them having a market cap of $1 billion and above. 

Poodlana wants to join this rank and become one of the leading meme coins in the world. The project is taking advantage of the popularity of the Poodlana dog breed and is building a community that could see it challenge industry leaders like Shiba Inu and Dogecoin.

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SOL shorts suffer as price surges; Solana’s Poodlana hits $3 million milestone

  • SOL price rose to above $187 to see over $4 million short positions liquidated.
  • Poodlana, the FashionFi meme coin, accelerated its presale as the sector surged amid US politics and bullish crypto predictions.
  • POODL surpassed the $3 million mark on July 27, just 10 days after the presale launch.

The cryptocurrency market has witnessed over $63 million in liquidations over the past 24 hours. Data shows most of these, nearly $45 million, are in short positions. 

Solana (SOL) surging above $187 has seen over $4 million in bearish bets liquidated. Meanwhile, Poodlana has soared to over $3 million in presale as Asia drives investor interest. 

Solana short liquidations hit $4 million as SOL surges

While Coinglass data shows the total crypto liquidations had declined 67% within the above timeframe, the market still saw a notable amount of bearish bets.

Solana liquidations reached a total of $4.95 million at the time of writing, with the forced exits happening as SOL price climbed more than 5% to touch highs of $188.

SolanaFloor shared the liquidation data on X, showing that the largest bearish bet on SOL to be liquidated was $560k. This happened as Solana’s price crossed the $187 mark.

Meanwhile, Bitcoin had over $16 million in shorts liquidated and Ethereum accounted for about $7 million of the short positions as both coins moved above key price levels. BTC traded above $68,300 while ETH hit highs above $3,290.

Solana rose as VanEck reported that a large number of people at its booth at the Bitcoin 2024 conference asked about Solana.

VanEck is one of the ETF issuers to file for a Solana spot ETF with the US Securities and Exchange Commission. Analysts say the approval for SOL ETFs in the US could come in 2025.

Wen, MAGA tokens jump as meme coins rise

Solana meme coins have experienced a 10% bump in the sector’s market cap as meme coins jump amid fresh optimism in the crypto market.

Although Bitcoin, Ethereum and Solana are in the limelight as whales buy BTC, ETH and SOL, a lot of interest in meme coins has several tokens trending.

Wen has spiked 20%, while PolitiFi token MAGA is up 16% at the time of writing. Donald Trump will speak at the Bitcoin 2024 conference.

Top meme coins by market cap Dogecoin, Shiba Inu, Pepe and dogwifhat have also seen their respective prices increase by more than 5% in the past 24 hours.

The broader meme coin market is up 8% to over $56 billion, but as the sector gains, investor interest is on new potential gems.

Poodlana accelerates to $3 million in presale

Poodlana is a new meme coin on Solana that seeks to break into the market riding a blend of crypto culture and FashionFi.

The combination of the global appeal of the fashion market and cryptocurrency’s rising adoption has the poodle-inspired project gaining massive traction just days after its presale launch. Slightly over a week since the 30-day POODL presale went live, the “Hermes of Crypto” has raised an impressive $3 million.

A viral appeal in Asia, where the poodle is a top dog breed, has contributed to this staggering support for Poodlana. However, the project is also captivating the global fashion-centric community and meme coin enthusiasts.

This appeal and the bullish predictions for crypto will catalyse further gains for Poodlana when the project goes live on DEX within an hour of its presale close on August 16.

19 days until POODL hits the trading market and the opportunity to position currently stands at $0.0299.

Notably, this price will jump to $0.0335 in the next stage and again every 72 hours until the final stage. According to details on the project’s website, DEX listing price will be $0.06.

To discover more about Poodlana or to join the community, visit their website.

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