Glassnode, in all their glory, dropped a bomb on X (formerly Twitter… yup, the social media rollercoaster). Apparently, the short-term price action is determined by those who bought Bitcoin at its glorious peak, right before it took a nosedive. As Bitcoin slides down the hill, these poor souls are now stuck holding the bag, making them prone to some very “fun” panic selling. 🎭
Yet, hope flickers like a candle in a draft. The Relative Strength Index (RSI), that fickle oracle, hovers just below 40-a number that whispers of oversold territories and the potential for a rebound. History, that tiresome narrator, reminds us of past XRP cycles where such readings preceded rebounds as dramatic as a Victorian novel’s climax. But will this time be different? Only the algorithms know, and they’re not talking. 🤫
Over the last two weeks, Cardano [ADA] whales have accumulated nearly 150 million ADA – a clear indication that these digital sea monsters are feeling rather optimistic about the altcoin’s future. The timing couldn’t be more perfect, especially since retail traders are starting to look like they’ve just seen a ghost. 🤔
Behold, Cardano has stumbled back into the limelight, trending on CoinMarketCap like a forgotten uncle at a family reunion. With ADA loitering around the $0.92 zone, one might wonder if it’s merely catching its breath or plotting a grand escape. Liquidity, that fickle mistress, is clustering like gossiping peasants in a Gogol village square, hinting at sharper moves once the key levels yield to the inevitable absurdity of it all. 🕺💫
Whispers in the ether suggest an altcoin season may be nigh, with Ethereum poised to lead the danse macabre of decentralized finance. Forward momentum, you say? My dear, it is less a momentum and more a grand ballet, each pirouette a testament to the whims of the market. 🎭✨
“Shifting balance of risks may warrant adjusting policy stance,” said the Fed Chair, Jerome Powell, at some fancy symposium. It’s like he’s reading from a script written by Jerry Seinfeld himself. 🎭 Investors, of course, went wild, and Ethereum surged nearly 12% in just a few hours. Can you believe it? I mean, I’ve had better luck getting a parking spot in West Hollywood.
In a Thursday filing-because doesn’t every court document scream “drama”-Judge Claire Cecchi ordered BlockFi’s insurers (those sneaky little creatures) to cough up more than $13 million into an escrow account within 30 days. It’s part of a class-action lawsuit that’s been bubbling since 2023. This came after a February motion for preliminary approval, which was basically stuck in litigation limbo thanks to one investor’s sudden case of objections-probably obsessing over the minutiae of their “hard-earned” crypto.
Well, shut my mouth! Zcash [ZEC] has strutted into the spotlight like a catwalk model, climbing more than 10% in the past 24 hours. At press time, it’s the belle of the ball, no doubt about it.
According to CryptoQuant, this wasn’t just a couple of traders sneaking in some last-minute bets. Binance’s BTC Open Interest (OI) jumped to about $13.3 billion. Yeah, you read that right. Meanwhile, the total crypto OI surged by a measly 8.5 percent to $215 billion. Small change, right? 😎
But It’s enough to make you wonder if we’re running a country or a Ponzi scheme. 😅
