XRP price has been experiencing a bearish rally, with the latest data pointing to significant market movements driven by whale activity. Over the past 24 hours, whale transactions totaling 283 million XRP have sparked considerable speculation among investors and analysts. As of press time, XRP was exchanging hands at $0.513622, with a 24-hour trading volume of $759,149,257.  Despite these substantial movements, XRP has seen a decline of 1.37% in the last day. Currently, XRP holds the #7 position on CoinMarketCap with a market cap of $28,397,596,022. XRP/USD 24-hour price chart (source: CoinMarketCap) In one notable transaction, a known whale moved…

Bitcoin’s price has been hovering around the $67,000 mark, showcasing a consolidation phase after recent gains. However, amidst this apparent stability, market analysts are warning of potential bearish momentum that could lead to a 10% price drop in the near term. Despite enjoying month-to-date gains exceeding 10%, Bitcoin’s current position is not immune to the looming threat of a downward trend. Resistance Levels and Liquidity Concerns Analysts point to significant resistance levels that Bitcoin must overcome to sustain its bullish momentum. The $70,000 threshold presents a formidable barrier, with liquidity concentrated around this level. Beyond $70,000, the resistance intensifies, particularly…

Pepe (PEPE) has been experiencing a slight decline in price over the past 24 hours. As of the latest data, PEPE is trading at $0.000009923, marking a 1.56% decrease from the previous day. This downturn has also affected its market capitalization, which now stands at $4,174,306,584, reflecting the same percentage drop. The token is currently ranked #25 in the market. PEPE/USD 24-hour price chart (source: CoinMarketCap) The trading volume for PEPE over the past 24 hours is $855,645,138, showing a significant decrease of 36.05%. This reduction in trading activity indicates a waning interest in the token within this timeframe. The…

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…

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…

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,…

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)…

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…

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…

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…