Dogecoin, the cryptocurrency that started as a joke and somehow became a serious investment (because, of course, it did), has decided to test the laws of gravity. It’s now trading below the 100-hour moving average, which is technically fancy talk for “it’s going downhill fast.” 📉 Bearish indicators are waving their arms frantically, signaling that things might get worse before they get better-if they get better at all. 🚨
For years, our dear Mr. Schiff has been a one-man apocalyptic choir, wailing about Bitcoin’s inevitable collapse. In 2018, he declared $3800 an “overvalued fantasy” and predicted a descent to $750. Yet here we are, with Bitcoin having danced past $120k before settling at $90k-a 23-fold leap that must’ve made his crystal ball feel rather… fragile. 🎱
In the ever-dramatic world of cryptocurrency, Quant [QNT] dances precariously amidst the market’s twists. As detailed by an AMBCrypto envoy, a significant conjuncture of supply lies just shy of the psychological boundary of $100-oh, how the minds of traders love their round numbers!
Ethereum price failed to stay above $3,000 and started a fresh decline, like Bitcoin. ETH price declined below $2,880 to enter a bearish zone. Because nothing says “I’m a financial genius” like a bear market. 🐻
While XRP meandered in a narrow corridor between $2.14 and $2.18, the true chaos lay hidden in the shadows of the liquidation feed, where the cryptocurrency unveiled one of its most distorted spectacles in days. 🕵️♂️
Yearn Finance is dealing with a fresh security breach after an attacker exploited its yETH token contract and drained millions in ETH and liquid staking assets from Balancer pools. The kind of breach that makes you wonder if the blockchain was just a really bad idea. 🧠
The sudden sell-off triggered $400 million in liquidations quicker than you can say “hodl,” and sent the global crypto market capitalization tumbling 4% to a mere $3.04 trillion. Trading activity exploded like a popped champagne cork as both retail and institutional investors scrambled like chickens in a fox hunt.
The yen, ever the drama queen, started flexing in Tokyo’s morning session. This means all those clever carry trades-the financial equivalent of building a house of cards in a wind tunnel-are now at risk of collapsing spectacularly.
At its heart, a perp decentralized exchange (DEX) in this DeFi business is like a fancy marketplace where folks trade these things called “perpetual futures contracts”. No expiration dates on these, see? It’s all done with these clever contraptions called “smart contracts” straight from yer own wallet, sometimes with a bit of borrowed boldness – they call it “leverage”.
The stablecoin market may have been polishing its tarnished reputation, adding just over a percentage point-wow, what a surge!-but it’s still trailing behind that glorious $309 billion high hit on October 25. Patience, my friend, patience.
