Crypto news

With a sturdy support above the mystical $0.23 level, our dear asset seems to be eyeing a potential breakout above the elusive $0.28. If it manages to do so, we might just see it prance toward the $0.30 mark, or perhaps even beyond! But lo and behold, the market sentiment has recently taken a turn for the dramatic, as its futures funding rate has turned negative. This signals an influx of short positions, and a bearish outlook looms like a dark cloud over our sunny day. ☁️

And guess what? The on-chain data is basically shouting, “Run for the hills!” 🏃♀️💨 According to CryptoOnchain (yes, the same folks who probably have a crystal ball hidden somewhere), the Taker Buy/Sell Ratio has face-planted to its lowest since 2018. 📉 That’s like showing up to a party and realizing you’re the only one not wearing pants. 🤦♂️ Sellers are dominating the dance floor, while buyers are hiding in the corner sipping their crypto-coolers. 🕺💔

So… what in the blazes is next for this digital doodad, this so-called ‘token’ for the creative types who live their lives on the magical mystery box we call a blockchain? Is ZORA a glittering golden ticket or a one-way trip to Fizzlepopsville? Let’s rip the lid off this curious contraption and have a proper snoop. 🔍

So, Bitcoin traders are out here playing fortune teller, huh? They think they’ve got the magic numbers for a bullish recovery. Spoiler alert: they don’t. 😏

Meanwhile, the Shiba Inu team, ever the diligent caretakers of their digital realm, uses fees to burn SHIB tokens. But with transactions plummeting like a poorly tied balloon, the burn rate has dropped 87%-a veritable feast for the token’s critics. Yet, in a twist of irony, the burn rate spiked 500% in 24 hours, as if the network suddenly remembered it had a job to do. 🕵️‍♂️

On the 4-hour and 12-hour charts, our dear ADA has been performing a rather theatrical dance, bouncing off the $0.82-$0.85 range as if it were a trampoline at a children’s party. This zone has become a makeshift fortress, and as long as it stands, a leap over the $0.90 threshold seems within reach. Should this occur, we might just find ourselves flirting with the $0.94 mark, which could keep the intraday traders giddy with delight, like children on Christmas morning.

Before you roll your eyes at another “bull market isn’t dead” proclamation, grab that second cup of coffee (or third, no judgment here). Jeremy Siegel, the sage of WisdomTree, has once again graced us with his presence, insisting that this rally is alive and kicking. But what about crypto? Will Bitcoin and Ethereum hitch a ride on this TradFi train, or are they destined to wait at the station like forgotten luggage? 🚂💼

Awaiting Nvidia’s Big Top Reveal

Enter Axel Adler, the sage of the MVRV, who proclaims that Bitcoin’s Adjusted Metric is teetering at the 1.0 zone, a precarious tightrope between short-term folly and long-term wisdom. “A balancing act!” he cries, as if the market were a circus performer juggling flaming torches. In truth, it is a muddle of profit-taking and volatility, with the 30-day metric yawningly matching the 365-day. A stalemate, or as I call it, “the market’s midlife crisis.”

Bitcoin, that fickle friend, might just pull a rabbit out of its digital hat and hit new all-time highs in the next four months. Who knew it had such a flair for the dramatic?