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Ethereum Dumps As CPI Comes in HotEthereum was trekking in the $1700's yesterday, after making an attempt for $1800, which failed earlier this week. After CPI data came in, it dumped back down to $1547, which was our target from yesterday. We are currently finding good support there, but if not, $1424 is the next level down. If we are able to pivot we will face immediate resistance from $1653, and a cluster of levels in the $1700's. We warned you not to get too excited about 'the merge', which some thought would take ETH back to $2K or higher, and this is exactly why.
BITSTAMP:ETHUSDShort
by quantguy
How Will CPI and the Fed Impact the Crypto Market?Bitcoin was edging higher, hoping that a reasonable CPI print yesterday would give risk on assets the green light to rally. Unfortunately, CPI came in red hot, suggesting that the Fed will double down their tightening efforts in order to get it under control. Bitcoin rejected $22.4K, and smashed through $20.7K. Currently we are clinging to support at $20K with $19.5K the next level to provide support. It will take some time for BTC to recover from this, but we must break through $22.4K before considering higher levels.
BITSTAMP:BTCUSDShort
by quantguy
September 14 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to CoinShare, digital asset investment products saw outflows totalling US$63m, the 5th consecutive week of outflows. Bitcoin is down 8.75% over the last 24 hours and fell to an intraday low of $19,860.82. The largest cryptocurrency plummeted alongside the traditional equity market as the U.S core CPI, which excludes food and energy prices, increased more than expected, rising to 6.3% from 5.9% in July. This suggests that the Fed will stick to its aggressive hiking plans and keep monetary policy restrictive for longer-than-expected. FedWatchTool shows that the probability of the Fed raising rates by 100 basis points next week has been significantly increased to 38%. If this happens, the BTC/USDT pair could decline further. Today’s Cryptocurrency Headline KKR Makes Its PE Fund Accessible to Individuals via Blockchain Private equity giant KKR, which had $471 billion in assets under management at the end of 2021, will offer its Health Care Strategic Growth Fund on Avalanche through a partnership with Securitize. Qualified investors (with $5 million in investable assets) will be able to invest in KKR's health-care fund through a tokenized feeder fund on the Avalanche blockchain after setting up an account with Securitize and going through KYC and AML accreditation. After one year of holding, investors will be able to sell it to other qualified investors on a secondary market managed by Securitize. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
Can Ethereum Hold the $1700's?Ethereum made a run for $1800, falling just short of this target, and careening through several levels of support below. We have broken into that cluster of levels in the mid $1700's that we have discussed many times, and appear to be finding support just above $1653, a familiar level tested by ETH from above and below many times as of late. This level should continue to provide support, but if not, then $1547 should provide further support if we break through. If we are able to pivot, we will see if ETH has enough momentum to break through to our target of $1821, but we will need to see more momentum come through.
BITSTAMP:ETHUSDShort
by quantguy
September 13 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to Glassnode, the total value in the ETH 2.0 deposit contract reached an ATH of 13,638,560 ETH. Bitcoin is up 2.55% over the last 24 hours and rose to an intraday high of $22,494.42. The cryptocurrency market and the traditional equity market have rallied since 09 Sept, suggesting that the investors believe the inflation has peaked, and the market has priced in the possible 75 basis point hike in the next FOMC meeting. The U.S. August consumer price index (CPI) will be released today at 12:30 UTC, and the market expects August CPI (YoY) declines to 8.1% from the previous 8.5%. If this happens, the BTC/USDT pair could attempt a rally to the overhead resistance at $25,211. Conversely, if the figure is worse than the expectation, the recent rally could be ended. Today’s Cryptocurrency Headline Ethereum Completes Last Shadow Fork Ethereum research and engineering firm Nethermind has confirmed that the transition in Mainnet-Shadowfork-13 — the last shadow fork — was successful, indicating that the network is ready to migrate to a proof-of-stake (PoS) consensus mechanism. Testnets allow Ethereum developers to practice functions such as running nodes, deploying contracts, and testing infrastructure. Thus, shadow forks allow developers to evaluate network upgrades before they happen. As part of the upgrade, the community needs to update the Ethereum client and run a combination of execution and consensus layers. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
Ethereum Makes a Run for $1800Ethereum has broken past significant resistance levels in the $1700's and made a run for $1800. We fell just short of this target, topping out at $1790 or so, in the middle of the vacuum zone between $1748 and $1821. We are seeing quite a few red triangles on the KRI suggesting strong resistance. If we are able to break through $1821, then $1872 is the next target. We should have further support in the $1700's if prices continue to fall, with $1653 being our anticipated floor price for now.
BITSTAMP:ETHUSD
by quantguy
How Long Can Bitcoin Rally?Bitcoin has risen sharply off a rally in stocks and a strong selloff in the US dollar. We have blasted through $20.7K and have almost completely crossed the vacuum zone to the next level at $22.4K. However, we are running into resistance confirmed by a series of red triangles on the KRI, and thus the price action is likely to round off some point soon. If we reject $22.4K, we will likely see support from $20.7K. If the rally continues, then $23.9K is the next target.
BITSTAMP:BTCUSD
by quantguy
2
Blockchain Companies: Expectation vs RealityCryptocurrency bubble? When analyzing the financial data of companies in the blockchain/cryptoassets area, more specifically the EPS (Earnings per Share), we can see a huge discrepancy between expectation and reality. It should be noted that some of these companies have never made a profit during their entire existence, and have negative cash flow. The question is: to what extent has the market already priced in these negative results? Would there be more room to fall? Below is the concept of EPS, and shortly after a snapshot of the current EPS versus expected EPS, from the main companies in the cryptocurrency and blockchain area. I'm not optimistic about this data, unless there's something that only I didn't see. What is basic EPS? Earnings per Share is the amount of earnings per share of issued, ordinary shares. When companies report financial results, earnings per share is one of the most commonly measured metrics. (TradingView) -------- Companies analyzed: Marathon Riot Blockchain Hut 8 Mining Coinbase Bitfarms BitNile CleanSpark Core Scientific Argo Blockchain Canaan Hive Blockchain Digital Bit Galaxy Digital BIT Mining Valour Ebang Greenidge Iren The Blockchain Group TeraWulf -------- ETFs analyzed: Proshares Bitcoin Strategy Grayscale Ethereum Trust Grayscale Bitcoin Trust
NASDAQ:MARAShort
by andre_007
What is BitcoinLet’s start with a very simple description of Bitcoin…. Bitcoin is a decentralized digital currency, based on an open-source software design, that is used to transmit value between pseudonymous users. All transactions, after being confirmed by miners using PoW as the consensus mechanism, are stored on a distributed ledger, called a blockchain. Changes to the blockchain are append-only and are synchronized about every10 minutes across thousands of nodes located all over the world over a P2P network. All information stored on the blockchain can be viewed publicly, in real-time. Cryptographic techniques such as public-key cryptography, hash functions, and digital signatures are used to keep the blockchain secure and immutable so it can be accessible to everybody but hackable to nobody. Got all that? But as you can clearly see, the crypto world is full of technical jargon ! Jumping into crypto introduces a large number of terms that most people will be unfamiliar with. The crypto world seems to have its own language and those wishing to learn about the topic can quickly become overwhelmed with all the jargon, acronyms, and other technical terms. But if you really want to understand cryptocurrencies and how they are different, it’s really important that you do familiarize yourself with certain core foundational concepts. My goal is to cover terms and phrases that you may initially not know, but do need to know. Together, we will blast jargon into smithereens so you’re able to easily speak the language of the crypto world with ease.
Education
by parissap
10
September 9 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to OKLink, the total number of ETH 2.0 pledged addresses has exceeded 430,000, reaching a record high of 430,308. Bitcoin is up 4.88% over the last 24 hours and rose to an intraday high of $20,320.00. The largest cryptocurrency managed to break the psychological level of $20,000, which indicates strong demand at the $20,000 price level. The relative strength index (RSI) is moving away from the oversold zone, suggesting the bears are losing control. If the price breaks above the 20-day EMA ($20,344), the BTC/USDT pair could rally toward the 50-day simple moving average (SMA) ($21,964). Today’s Cryptocurrency Headline SEC to Set Up New Cryptocurrency Disclosure Office The U.S. Securities and Exchange Commission (SEC) will set up a new office for cryptocurrency filings. Cicely LaMothe, the associate director for disclosure operations, said the office would be part of the Division of Corporation Finance, which handles disclosures for publicly traded firms. The SEC believes the new office is necessary to address “unique and evolving” filings around crypto assets, the vast majority of which are considered securities by the SEC, LaMothe said at a legal conference in Washington on Thursday. According to LaMothe, the SEC is expected to have legal and accounting branches for crypto firms to consult and file with. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
Ethereum Testing ResistanceEthereum pivoted from $1547, after breaching this level briefly. Swift momentum took us back to $1653. Recall that this is the beginning of a series of levels extending through the $1700's, which will provide resistance. It will take significant momentum to break through. Though the Kovach OBV has picked up sharply, we will need more follow through if we hope to break out much further. If we reject current levels, then $1547 is a likely target. Otherwise, $1424 is the next level below.
BITSTAMP:ETHUSDShort
by quantguy
September 8 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to the CME FedWatch Tool, the probability of a 75 basis point rate hike in the September meeting has risen to 80% from 69% a week ago. Bitcoin is up 2.59% over the last 24 hours and fell to an intraday low of $19,464.80. As investors worry about the Federal Reserve could continue with its aggressive tightening monetary policy, risky assets have been under selling pressure lately. However, the largest cryptocurrency rebounded alongside the traditional equity market today, which could be a short-term adjustment. For now, the bulls need to push the Bitcoin price above the psychological level of $20,000 to establish a relief rally. Today’s Cryptocurrency Headline SEBA Bank Launches Ethereum Staking Services For Institutional Clients Swiss-regulated crypto platform SEBA Bank has launched ETH staking services for institutional clients. SEBA Bank said that the product allows users to receive ETH staking rewards on a monthly basis and variable lock-up periods will be instituted post-merge. However, no staked ETH can be withdrawn from Ethereum’s Beacon Chain until after a subsequent network upgrade, dubbed Shanghai, expected in the second quarter of 2023. Earlier in December last year, SEBA Bank launched the "SEBA Earn" program, which will allow institutional clients to obtain rewards through services such as staking, lending, and DeFi. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX