Tag: Hits

Gold hits record high, Bitcoin tops $110K as traders raise bets on Fed cuts

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Key Takeaways Gold reached a record $3,508 and Bitcoin topped $110,000 as traders expect the central bank to lower interest rates in September. Crypto and gold markets surged, driven by a nearly 90% probability traders assign to an imminent Fed rate reduction. Share this article Gold notched a fresh high of $3,508 in Asian trading on Tuesday, while Bitcoin surpassed $110,000 amid growing bets the Federal Reserve will cut rates at its upcoming September 17 meeting. According to the FedWatch Tool, the probability of a quarter-point reduction has climbed to…

Is DeFi yield appetite rising again? Enso raises $5M as YFI hits new highs

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The appetite for DeFi is rising again as blue chips are rallying and yield-earning strategy-sharing platforms, like Enso, are on the rise. Enso, a platform where users can share yield-earning strategies, raised $5 million on April 13 from top U.S. venture capital firms including Polychain Capital and Multicoin Capital. Synthetix (SNX) founder Kain Warwick, Aave founder Stani Kulechov, Dfinity COO Artia Moghbel, and other prominent angels took part in the round. The high-profile fundraising round comes as Yearn.finance (YFI) achieved a new all-time high above $50,000. Why is the demand for…

Bitcoin hash rate hits record 200 EH/s in fresh BTC price bull flag

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Bitcoin (BTC) has seen a classic indicator of a coming bull run pass a historic milestone as miners commit more and more resources to its future. According to data from on-chain monitoring resource Glassnode on Friday, Bitcoin’s network hash rate has passed total exahashes per second for the first time in its history. Hash rate underscores miner commitment Coming as a spike in a long-term uptrend, crossing the significant boundary means that the hash rate has doubled in under nine months.  Bitcoin average hash rate chart. Source: Glassnode An estimate…

Coinbase Hits $103B Valuation in Landmark Public Listing

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Key Takeaways Coinbase’s COIN shares have gone live on NASDAQ. COIN is trading at $395, putting the company’s valuation at $103 billion. The event has been widely celebrated as a groundbreaking moment for the cryptocurrency space. Share this article Coinbase makes history as the first cryptocurrency company to go public.  Coinbase Goes Public in First for Crypto  Coinbase is now live on NASDAQ.  COIN shares were trading at $381 on market open Wednesday, significantly up from the initial $250 reference price NASDAQ set yesterday.  Coinbase filed 261.3 million Common Stock…

Dogecoin Price Doubles Overnight, Hits New All-Time High

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Key Takeaways Dogecoin’s market value has doubled in the last 36 hours. A further spike in buying pressure could see it rise another 8%. But the presence of whales on the network suggests DOGE could pump even more. Share this article Dogecoin made headlines after skyrocketing by more than 100% to make a new all-time high of $0.146.  Dogecoin Makes New All-Time High  Dogecoin has resumed its uptrend after consolidating for more than two months. Throughout the stagnation period, DOGE made a series of higher lows while the $0.0887 resistance…

Dogecoin (DOGE) hits a new ATH as Bitcoin bulls try to flip $63K to support

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The price of Dogecoin (DOGE) experienced a strong 36% rally on April 13 and established a new all-time high at $0.0961. While the exact reason for the rally is unknown, the crypto market’s most popular meme coin now finds itself on the shortlist of cryptocurrencies being considered as a payment option in today’s post-pandemic business reopenings.  Data from Cointelegraph Markets and TradingView shows that DOGE rose 36% from a low of $0.07 in the early hours on April 13 to an intraday high of $0.0961 on $5.4 billion of trading…

Bitcoin bulls are confident even as a key BTC price metric hits a new low

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Newer traders might be unaware of this, but investors can also borrow BTC to margin trade a short position, thus betting on the price downside. This is why some analysts monitor the BTC, and USDT total lending amounts to gain insight into whether investors are leaning bullish or bearish. Interestingly, data shows that even as Bitcoin price aims for a new all-time high, the BTC to USDT borrow ratio reached its lowest level since Nov. 20 at OKEx. While this figure still favors bulls, it raises questions about what catalysts…

Bitcoin Price Eyes $5K Defense as RSI Hits 4-Year Low

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Bitcoin is looking oversold after a drop to 13-month lows Wednesday and could defend immediate support at $5,000 in the next few days. The world’s top cryptocurrency by market value fell to $5,324 (price via Bitstamp) in a matter of hours yesterday, reaching its lowest level since Oct. 18. The average price across major exchanges, as calculated by CoinDesk’s Bitcoin Price Index fell 10 percent – the biggest single-day drop since March 30. While BTC had supposedly carved out a long-term bottom around $6,000, the convincing break below that level…

Bitcoin Back on the Defensive After Price Hits Two-Week Low

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Bitcoin’s (BTC) price dropped to two-week lows earlier today and could extend the decline to key support near $6,100, technical charts indicate. The leading cryptocurrency was teasing a bullish move 24-hours ago, having carved out a lower high of $6,270 along the support of the trendline connecting the Oct. 11 low and Oct. 31 low. The defense of the key trendline support was also backed by a bullish divergence of the MACD (moving average convergence divergence) histogram. Even so, BTC failed to pick up a bid, possibly due to sharp…

Just a Ripple? XRP Price Hits One-Month High But Eyes Correction

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Twitter Facebook LinkedIn Ripple (XRP) on Tuesday established a bullish setup after rising more than 10 percent against the US dollar. The pair broke above the October peak to set a new one-month high at 0.569-fiat. It was previously stuck in a narrow trading range for multiple weeks amidst lower volatility. While the lack of bias-defining price action is itself not significant, the absence of solid bullish momentum, coupled with failed rally attempts of the recent weeks, confirms XRP’s overall downtrend. The latest rally marks the asset’s latest attempt to break…