Crypto news

From the technical abyss, we observe the Bitcoin price closing below the lower boundary of the Gaussian Channel-a statistical contraption of medians and deviations. Oh, the irony! This indicator, which once strutted like a peacock during bull cycles, now lies in the dust, its feathers plucked by the merciless hands of the market. As Ted (@TedPillows) so eloquently quoth: $BTC has dropped below its weekly Gaussian Channel. To be honest, this looks really bad. Indeed, Ted, indeed. It looks as bad as a nose disappearing in a Gogol tale, never to be seen again.

Currently, our beleaguered XRP finds itself trading at a modest $1.70, down 2.75% in the past 24 hours, as per the ever-reliable sages at CoinMarketCap. If only it had a good sense of humor, perhaps it could laugh its way back up!

In his live “ask-me-anything” session-because who doesn’t want to answer awkward questions in front of an audience?-CZ dismissed these accusations as “far-fetched.” I mean, really, what’s next? Blaming the weather for a bad haircut? He argued that such claims oversimplify one of the most chaotic days in crypto history. And let’s be honest, that day was like watching your favorite soap opera but with real money!

Binance blamed the October 10 flash crash on a macro shock colliding with heavy leverage and evaporating liquidity, rather than any breakdown in its trading systems following speculative chatter on social media.

While these metallic wonders are often heralded as bastions of stability during stormy economic seas, last Thursday and Friday were anything but serene. Picture this: gold, once a glorious phoenix soaring to heights of $5,600 per ounce, found itself tumbling down like a clumsy acrobat, landing back at $4,700-a dizzying 16% decline in mere hours! Silver, that cheeky cousin, decided to join the fray with a jaw-dropping 40% drop, slinking back to $73 and erasing all its glittering gains in a flash.

MicroStrategy shares are under more pressure than a single girl at a family wedding. Analysts are pointing to further downside risk, because apparently, the only thing going up is our collective anxiety.

Once the belle of the blockchain ball, AVAX’s value took a nosedive-59.0% QoQ and 65.5% YoY-leaving wallets emptier than a poet’s pocket. From a princely $30 to a humble $12.30-the descent was swift enough to make even the most stoic blush. Yet, amidst this financial fumble, the network’s usage kept climbing like a well-bred dandy, unphased by the tragic comedy of token price.

Himanshu Sinha, writing on X, insists that Bitcoin was meant to be digital gold, a project for de-dollarisation. But the ledger keeps score differently: gold and silver are winning the trade. Over the past year, gold is up about 55%, silver around 150%, while BTC has stood still-like a professor at a lecture on a windy day.

Elon Musk’s flirtation with a merger among SpaceX, Tesla, or the enigmatic xAI has nudged into the foreground a quieter empire-chunk: one of the planet’s most formidable corporate bitcoin troves.

The precious metals, once the darlings of the market, now find themselves in a predicament most dire. Led by gold and silver, their historic bullrun may be drawing to a close, like a grand ball interrupted by the first light of dawn.