Author: Kelvin Munene

Worldcoin (WLD) has been in a bearish trend in the last 24 hours, experiencing a 0.63% decline to settle at $4.89 as of press time. The price touched a support level around $4.70, indicating a potential floor where buying interest re-emerges, while resistance was observed near $5.00, suggesting increased selling pressure at this level. WLD/USD 24-hour price chart (source: CoinMarketCap) Throughout the day, Worldcoin fluctuated, hitting an intraday low of $4.8521 and a high of approximately $4.9215. This fluctuation within a narrow range highlights the ongoing consolidation phase. The trading volume saw a substantial drop of 41.68%, decreasing to…

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Bitcoin’s (BTC) price has been in a bullish rally in the last 24 hours, showcasing a robust recovery as it crossed the significant $66,000 threshold. This surge in value is attributed to a confluence of favorable macroeconomic indicators and heightened institutional interest. The cryptocurrency’s price movement indicates a potential shift in market dynamics from a previously bearish sentiment to a more bullish outlook BTC/USD 24-hour price chart (source: CoinMarketCap) As of press time, BTC was exchanging hands at $66,235, a 6.63% surge from the intra-day low of $61,939. Concurrently, BTC’s market capitalization and 24-hour trading volume surged by 6.59% and…

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The price of XRP has been in a bearish phase over the past 24 hours, indicating a gradual downward trend. Starting at around $0.5064, the price faced an immediate dip, followed by a peak at approximately $0.5100. However, this spike was short-lived as the price began to exhibit a series of lower highs and lower lows, signaling a bearish momentum. Throughout the day, XRP’s price fluctuated, ultimately declining to just below $0.5000 before a slight recovery. The recovery did not hold, and the trend continued downward, with the lowest price touching around $0.4985, where support was established. At press time,…

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Bitcoin’s (BTC) price has been in a downtrend, posting a decline of 1.87% over the past 24 hours. As of the latest update, Bitcoin is trading at $61,767.96 with a 24-hour trading volume of $25,663,376,982. The current market conditions reflect a growing bearish momentum, impacting the overall sentiment in the cryptocurrency market. BTC/USD 24-hour price chart (source: CoinMarketCap) Market Reaction to US Inflation Data The recent dip in Bitcoin’s price coincides with traders anticipating key U.S. inflation data set to be released this week. The Producer Price Index (PPI) is expected on Tuesday, followed by the Consumer Price Index (CPI)…

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Bitcoin’s on-chain activity has seen significant movement recently, with long-dormant wallets springing to life. Over $60 million in Bitcoin, previously untouched for a decade, was transferred, prompting market speculation and analysis. These whales stirred a bullish sentiment. Consequently, the Bitcoin price, as of press time, is $62,920.89, up 3%. It has a 24-hour trading volume of $21,471,618,887 and a market cap of $1,239,393,651,685. BTC/USD 24-hour price chart (source: CoinMarketCap) Dormant Wallets Wake Up On May 12, 2024, two Bitcoin addresses, dormant for over ten years, suddenly moved 1,000 BTC, worth approximately $62.8 million. Each address transferred 500 BTC, with the…

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Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has seen a turbulent market performance in recent weeks. Despite the bearish sentiment and network dips, the price of Ethereum has shown signs of resilience. As of now, the live Ethereum price is $2,916.04, with a 24-hour trading volume of $6,041,178,931. The cryptocurrency has experienced a slight increase of 0.49% in the last 24 hours, maintaining its position as a pivotal player in the digital asset space. ETH/USD 24-hour price chart (source: CoinMarketCap) Speculative Divergence and Short-Term Holder Concerns Analytics firm Glassnode’s recent newsletter highlighted Ethereum’s underperformance compared to Bitcoin in the…

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Bitcoin’s price has experienced a notable decline, dropping below the $61,000 mark as the bearish momentum intensifies. A major contributing factor to this downturn is the continued outflows from the Grayscale Bitcoin Trust (GBTC) and other Bitcoin Exchange-Traded Funds (ETFs).  On May 10, GBTC reported an additional $100 million in outflows, bringing the total outflows across all 11 Bitcoin ETFs to $84 million. This trend indicates a waning interest among investors in Bitcoin ETFs, putting further pressure on the market. BTC/USD 24-hour price chart (source: CoinMarketCap) Institutional Holdings and Market Sentiment Despite the outflows, traditional banking institutions have disclosed their…

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Toncoin (TON) experienced a significant price surge, climbing over 15% to trade above the $6.50 resistance level. This price action reflects a robust bullish sentiment among investors, propelling the token to outperform major cryptocurrencies like Bitcoin and Ethereum. The price recently peaked close to $7.00, marking a notable high of $6.93 before entering a consolidation phase around the $6.80 zone.    TON/USD 24-hour price chart (source: CoinMarketCap)   TON Technical Indicators and Market Analysis Several technical indicators highlight Toncoin’s current bullish trend. The presence of a parabolic curve on the hourly chart of the TON/USD pair, with support at…

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Pepe (PEPE) has shown a promising upward trend, indicating a potential 27% rally. After a recent dip, the price of PEPE is positioned to bounce back from a crucial support level of $0.0000077, which could catalyse a surge to $0.0000100.  Whale activity, particularly the significant selling of PEPE tokens, has historically signalled an impending price increase. Over the past week, whales have sold approximately 2.5 trillion PEPE, worth nearly $20 million, which may indicate an optimistic outlook for the meme coin. PEPE/USD 24-hour price chart (source: TradingView) Whale Behavior and Investor Incentives Whale addresses, which hold substantial amounts of PEPE,…

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Litecoin (LTC) has recently been in bullish momentum, showing significant resilience and growth in the cryptocurrency market. As of press time, Litecoin’s price was exchanging hands at $81.81, with a substantial 24-hour trading volume of $353,415,845.  The cryptocurrency has gained 2.47% in the last 24 hours, according to real-time data from CoinMarketCap, currently ranking #19 with a live market cap of $6,095,781,423. LTC/USD 24-hour price chart (source: CoinMarketCap) Litecoin’s Surge in Transactions Litecoin has observed a noteworthy increase in its transaction usage, surpassing Bitcoin in the number of payments processed through BitPay, a popular cryptocurrency payment service provider. In April,…

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