Bitcoin
Bitcoin Navigates 0.65% Gain Into Danger Zone, Ethereum Drops 0.25% Amid Market Pressures, Furrever Token Launches $20,000 Competition to Boost Presale
Furrever Token
New York City, NY, May 13, 2024 (GLOBE NEWSWIRE) –
In the ever-changing landscape of the cryptocurrency market, major tokens such as Bitcoin and Ethereum are experiencing significant fluctuations, presenting challenges and opportunities for investors. In this dynamic environment, the Furrever Token (FURR) comes up with an innovative marketing strategy that aims to attract Bitcoin and Ethereum holders, further diversifying the crypto ecosystem with its unique thematic focus and competitive initiatives.
Navigating Bitcoin’s “Danger Zone”: Market Dynamics and Speculation
Bitcoin (BTC) has experienced considerable volatility, currently trading at approximately $61,229.50, marking a slight increase of 0.65% from the previous day. This instability is particularly evident as BTC recently tested the critical $60,000 support level, a move that has increased caution among investors. This phase is often described as the “danger zone,” a term used to denote the turbulent period following the Bitcoin halving events.
During trading on May 10, Bitcoin price momentarily fell to an intraday low of $60,190 on Bitstamp, below stabilization attempts around $63,000. This sudden drop generated widespread speculation among traders and analysts. Many believe that high-volume institutional actions, coupled with the temporary closure of the BTC ETF market, may have driven the drop.
Despite this recent drop, market experts like Rekt Capital remain optimistic, suggesting that the end of this challenging “danger zone” may be in sight. Historically, these periods have been marked by sharp slowdowns followed by eventual stabilization. The current BTC market scenario demonstrates the complex interplay between market sentiment and institutional influences, which continues to dictate the cryptocurrency’s price movements. As Bitcoin navigates these fluctuations, the broader crypto community is watching closely, anticipating the cryptocurrency’s next moves in this unpredictable market landscape.
Ethereum Faces Market Headwinds and Analyst Scrutiny
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, recently traded at $2,927.63, marking a slight drop of 0.25% from the previous day. This modest decline is part of a broader trend of challenges that have captured the attention of investors and analysts alike.
One significant event that shook the market was a massive sale by an Ethereum whale that liquidated 6,714 ETH at a price of $2,903 each, culminating in a loss of approximately $6.5 million. This large-scale transaction has intensified concerns about the future direction of Ethereum prices. Market indicators are not promising, with the Relative Strength Index (RSI) showing a decrease in investor interest and the main averages indicating a bearish outlook.
The story continues
Despite Ethereum’s substantial trading volume of $10.1 billion over the past 24 hours, the price fell 4.07%, fluctuating between $2,935.95 and $2,894.15. Analysts have identified the $3,017 level as a crucial resistance point; Overcoming this could potentially shift momentum into an uptrend and help Ethereum break out of its current descending channel pattern.
However, several factors complicate this perspective. The cryptocurrency has been in a descending channel since mid-March, and the delay in approval of a Spot Ethereum ETF by the US Securities and Exchange Commission (SEC) has added to bearish sentiment. Furthermore, the recent Dencun hard fork, which was intended to improve Ethereum’s scalability, did not have the expected positive impact on its price, leading to more speculation about its effectiveness and future impact on Ethereum’s market performance.
These developments paint a complex picture for Ethereum as it navigates ongoing market challenges and investor scrutiny.
Furrever Token launches $20,000 competition to attract Bitcoin and Ethereum investors
O Furrever Token (FURR) has introduced an exciting $20,000 competition targeting Bitcoin (BTC) and Ethereum (ETH) holders to diversify in its pre-sale phase, which features cat-themed imagery and an engaging and fun ecosystem. Operating on the BNB-20 blockchain, Furrever Token is currently offering 65% of its supply of approximately 9 billion tokens to early investors, signaling a strong start with over $1 million raised in just two months.
As the pre-sale progresses, Furrever Token continues to captivate community interest, with its current price set at a modest $0.000648. A notable aspect of this token is the absence of purchase and sales taxes, which increases its accessibility and affordability, especially attracting new participants in the cryptocurrency market.
The centerpiece of Furrever Token’s promotional activities is the “Furrever Token $20,000 Total Purchase Competition.” This contest is designed to stimulate excitement and investment by rewarding the top 10 participants who purchase the most FURR tokens over an 18-day period, from May 9, 2024, 5:00 pm UTC, to May 27, 2024, 12:00 pm UTC . . The top buyer will receive $5,000, with decreasing prize amounts for the other top buyers.
This initiative not only underscores Furrever Token’s commitment to building a robust and engaged community, but also positions the token as a potentially lucrative opportunity for investors in major cryptocurrencies like BTC and ETH who are looking to leverage their holdings in new and promising digital assets.
For more information or any assistance regarding Furrever Token, please contact only through the official channel at support@furrevertoken.com to avoid possible fraud.
Join the Furrever Token presale now:
Furrever Token official website
Enter the $20,000 Furrever Token Giveaway
Join the official Telegram group
Follow the official account
Media Contact:
Robert Smith
https://furrevertoken.com/
support@furrevertoken.com
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice or trading advice. It is highly recommended that you practice due diligence, including consulting with a professional financial advisor, before investing or trading cryptocurrencies and securities.
CONTACT: Robert Smith support at furrevertoken.com
Photo: Andrew Harnik (Getty Images)
After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.
Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job
Let’s take a look at what awaits us:
Major companies will release their earnings reports
Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.
Monday
- Verizon will report earnings before the start of operations.
Tuesday
- Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
- Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
- Alphabet and Visa will report results after the market closes.
Wednesday
- AT&T will release its report before the market opens.
- Ford and Chipotle will report earnings after the market closes.
Thursday
- Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.
Trump to speak at Bitcoin conference
Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.
In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.
Ether ETFs are on the way
New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.
Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.
That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.
Bitcoin
Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske
Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.
Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.
According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.
“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”
Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.
BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.
The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.
Source: Chris BurniskeX
Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).
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Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.
Technical analysis
Per NegotiationRage
The daily chart
As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.
The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.
The 4-hour chart
Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.
While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.
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