Connect with us
  • tg

Cryptocurrency

Bitcoin Price Falls Over 9% But New Green Bitcoin ICO Raises $4.5m

letizo News

Published

on

Bitcoin (BTC) dropped 9% in a day, wiping out over $200 million in leveraged long positions as the price fell from $73,000 to $66,800. The drop follows as unexpected rise of inflation as measured by the US Consumer Price Index to 3.2%, lowering chances of rate cuts this year.

Another reason for the drop is profit-taking by traders who saw Bitcoin rise over 170% within a year.

However, Bitcoin spot ETFs are buying over 10,000 BTC daily, while the mining output is 900 within the same time frame. Because of that, this pullback could be short-lived. One Bitcoin alternative, called Green Bitcoin (GBTC), is defying the drop, however. It has now raised over $4.5 million for its ICO.

BTC Loses 9% Within a Day as Inflation Numbers Rise

After its meteoric rise in 12 months, returning over 170%, BTC has finally taken a step back. CoinGlass data shows over $200 million BTC long positions were liquidated within 24 hours, intensifying the price drop.

US CPI data unexpectedly rose to 3.2% year-over-year beating the estimates of 3.1%. This has cooled expectations that the Fed will start rate cuts this year.

Bitcoin’s drop confirms some on-chain data where the futures market momentum and “In the Money” indicators flashed a bearish signal, according to the crypto analytics firm IntoTheBlock.

While Bitcoin is having a respite from a 12-month rise, one Bitcoin alternative is showing massive investor interest as it raises over $4.5 million in its presale.

Green Bitcoin (GBTC) ICO Raises Over $4.5M

Green Bitcoin is a Bitcoin alternative that uses an environmentally-friendly proof of stake consensus mechanism, thanks to being built on the Ethereum network. This means you stake your GBTC to earn more GBTC tokens.

Staking comes with additional benefits, however. Once you lock your tokens, you can predict Bitcoin’s price and earn GBTC rewards based on your accuracy. This gamified approach to price prediction has caught the attention of investors, helping the project raise over $4.5 million during the GBTC token presale.

Interested traders and investors can buy GBTC tokens for $0.9542 apiece, which is likely to go up during the presale. Since it uses the Ethereum network as a base layer, you need ETH, USDT or a card to complete the purchase and to stake your tokens.

During the presale, staked GBTC tokens earn 112% annual percentage yield (APY), making it an excellent way to reward early buyers. Investors who want to learn more about this project should read the Green Bitcoin whitepaper.

Visit Green Bitcoin

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

The token Green Bitcoin (GBTC) has no affiliation and is not associated in any shape or form with Grayscale’s Bitcoin Trust.

Readers are also advised to read CryptoPotato’s full disclaimer.

SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

Cryptocurrency

Dogecoin Millionaire Says to Watch Pepe, Neiro Ethereum, Brett for the Next Crypto Bull Run: What About Pepe Unchained?

letizo News

Published

on

Glauber Contessoto, the “Dogecoin millionaire,” is back in the news.

He recently shared on Twitter which coins he believes could be the next big winners in the upcoming bull run.

PEPE, NEIRO, and BRETT are three coins he’s got his eye on – and he believes they have serious potential to take off.

Dogecoin Millionaire’s Picks for the 2025 Bull Run

Contessoto’s tweet on Monday went viral.

With over 85,000 views, his tweet laid out what he believes will be the two biggest meme coin narratives driving the 2025 bull run.

First up, he’s betting on the rise of the “PEPEVERSE,” with PEPE on Ethereum and BRETT on Base leading the way.

Contessoto sees these coins, along with others tied to characters like Andy and Wolf, producing big wins for investors.

Next in line is the “DOGEVERSE.”

He expects a revival of old favorites like DOGE, SHIB, and FLOKI from the last cycle.

But he’s also watching for new dog coins – with NEIRO on Ethereum catching his eye as the “younger sister of Doge.”

It’s no surprise that Contessoto’s picks have stirred up plenty of excitement.

And many investors are eager to see if these picks will be the stars of the next crypto bull run.

Could We Be on the Verge of Another Bull Cycle?

Are we on the brink of another crypto bull run?

Several signs suggest it’s possible.

For starters, the Fed is expected to cut interest rates at their FOMC meeting today.

Historically, lower interest rates have been great for riskier assets like crypto as investors look for better returns.

More money flowing into the crypto market could push prices higher.

Then there is the growing role of institutional adoption.

With spot Bitcoin and Ethereum ETFs now available, big investors can get into crypto through more trusted channels.

That added legitimacy might boost demand even further if interest rates begin to come down.

Of course, the broader economic picture matters too.

For example, a “soft landing” in which inflation reaches the Fed’s target without causing a recession could create the ideal conditions for crypto to thrive.

These combined factors suggest we might be on the verge of a bullish shift – making Contessoto’s coin picks even more exciting.

Investors Also Stacking Pepe Unchained for the Next Bull Run

Contessoto’s picks are definitely worth watching – but they’re not the only contenders.

One rising star that’s been catching a lot of attention is Pepe Unchained (PEPU), which puts a new spin on the iconic Pepe meme.

Featuring a “Pepe the Frog” theme, Pepe Unchained aims to set itself apart by combining meme culture with a real-world blockchain project.

Think of it like a classic joke token, but upgraded.

It still has that “degen” vibe, yet it offers extra utility by creating its own Layer-2 blockchain, Pepe Chain.

This chain claims it would offer super-fast transactions, low fees, and easy integration with the Ethereum ecosystem.

And if that wasn’t enough, the staking rewards definitely are.

Currently, PEPU holders can stake their tokens and generate yields of 152% per year.

That’s far higher than what most staking coins offer.

No surprise, then, that Pepe Unchained’s presale has already raised over $13.5 million.

FOMO is beginning to kick in, and the hype is building.

Crypto influencers like ClayBro are even predicting that PEPU will be “ready to explode” after the Fed’s upcoming rate decision.

With a potential crypto bull run on the horizon, Pepe Unchained could be another meme coin worth watching.

The next price increase takes place in less than 24 hours, so there’s limited time to participate in the current phase.

Visit Pepe Unchained Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Continue Reading

Cryptocurrency

Ripple Price Analysis: XRP Bulls Eye $0.6 as Positive Sentiment Spreads

letizo News

Published

on

After a solid bullish rebound, Ripple’s price surged to the $0.60 level. However, it has since entered a brief consolidation phase, which may pave the way for further upward movement toward the significant $0.64 resistance.

By Shayan

The Daily Chart

A closer look at Ripple’s daily chart reveals that following an increase in demand around the key 100-day ($0.53) and 200-day ($0.55) moving averages, buying activity intensified, leading to a sharp price surge toward the $0.60 mark.

Although Ripple’s upward momentum has temporarily paused, the price has now entered a short-term consolidation at this level. This phase is likely to be followed by a continuation of the bullish trend, with XRP targeting the critical $0.64 resistance level, a zone that has consistently challenged buyers in recent months.

Should sellers regain control of this resistance, XRP’s price could face a reversal, potentially declining back toward the $0.55 support region. On the other hand, if buyers manage to break through the $0.64 resistance, the bullish trend is expected to continue, signaling a shift in market sentiment.

xrp_price_chart_1809241
Source: TradingView

The 4-Hour Chart

On the 4-hour chart, XRP saw increased buying interest at the 0.5 Fibonacci retracement level ($0.52), which coincides with the lower boundary of a descending flag pattern. This triggered a strong bullish reversal, pushing the price toward the upper boundary of the flag at $0.62, a key resistance level in this formation.

If the cryptocurrency successfully breaks above $0.62, the bullish trend is likely to continue, with the price targeting the $0.64 threshold. However, failure to break through this resistance could lead to a bearish rejection, with the price potentially retracing back to the $0.55 static support area.

xrp_price_chart_1809242
Source: TradingView
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Cryptocurrency

Bitcoin Price Analysis: The Fed Cut Rates, Now What’s Next for BTC?

letizo News

Published

on

Bitcoin’s price finally looks set to break back above the $60K level after weeks of consolidation. However, there is still one more key resistance level that the price needs to overcome.

Technical Analysis

By: Edris Derakhshi (TradingRage)

The Daily Chart

On the daily timeframe, Bitcoin’s price is demonstrating a willingness to finally break above the $60K resistance level, following its rebound from $52K.

The RSI also shows values above 50, indicating that the market momentum is bullish once again. However, for the cryptocurrency to begin a new long-term rally, the price should first rise above the 200-day moving average, which is located near the $64K resistance level.

btc_price_chart_1809241
Source: TradingView

The 4-Hour Chart

The 4-hour chart clarifies the recent price action, as the market has been making higher highs and lows since bouncing from the $52K support level.

As this suggests, it is only a matter of time for the $60K resistance level to be broken to the upside, which would pave the way for BTC to rally toward the significant $64K resistance area. The RSI is also showing bullish momentum in this timeframe and has yet to reach the overbought region. Therefore, the market seems to be on the verge of an increase, at least in the short term.

btc_price_chart_1809242
Source: TradingView

On-Chain Analysis

By Edris Derakhshi (TradingRage)

Bitcoin Exchange Supply Ratio

To sell their coins in the crypto market, most people have to first deposit them into an exchange. The amount of BTC held in exchange wallets is, therefore, a proxy for market supply (at least retail), and analyzing its trends could be beneficial.

This chart presents the BTC exchange supply ratio, which measures the ratio of the BTC held in exchanges to the total supply of the coin.

As it shows, the metric has been declining rapidly since February, indicating that heavy accumulation occurred during the recent consolidation. As a result, if sufficient demand is present, the market can begin a new rally toward higher prices.

Bitcoin Exchange Supply Ratio - All Exchanges
Source: CryptoQuant
SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved