Tag Archives: key

Elon Musk’s SpaceX moves 1,163 Bitcoin worth $105M

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Key Takeaways SpaceX moved 1, 163 Bitcoin worth $105M to a new wallet, following a larger transfer last month. The moved funds are believed to be for custody reasons, with SpaceX’s wallet now holding 6, 095 BTC. A crypto wallet associated with SpaceX moved 1, 163 Bitcoin valued at around $105 million to a new wallet today, according to Arkham Intelligence data. The transfer comes after the Elon Musk-owned space exploration company sent $268 million in Bitcoin to a new address last month. Analysts suggest SpaceX may have moved the funds for custody purposes rather than selling them. The labeled wallet currently holds 6, 095 Bitcoin worth almost $553 million. Following a three-year dormancy period, the wallet resumed activity in late July, sending out $153 million worth of Bitcoin. Bitcoin is currently trading near $91,000, up 3. 5% over the past 24 hours, according to CoinGecko.
https://cryptobriefing.com/spacex-bitcoin-transfer-wallet-november/

XRP price prediction: Can ETF hype push it past KEY danger zone?

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Key Takeaways Why is XRP rallying? On-chain metrics and the launch of XRP spot ETFs stirred short-term bullish sentiment and drove gains. Is this a bullish reversal? Not yet. A move beyond $2. 55 is necessary to flip the trend bullishly. The OBV volume indicator showed that buyers were weak. The new SEC-approved Cboe rule has enabled institutions to expand their crypto ETFs to hold a broader basket of digital assets. One such institution was Franklin Templeton. AMBCrypto reported that the well-known asset manager wanted to add Ripple [XRP] to their portfolio to widen the scope of the Franklin Crypto Index ETF. The investment company has also launched its own spot XRP product, XRPZ trust. This news sent XRP prices flying higher on Monday, the 24th of November. The $2. 05-$2. 15 region had been a short-term resistance zone, but was now being retested as a demand zone. The higher timeframe structure of XRP remained bearish despite the short-term bullishness. Falling exchange reserves and prevalent short-selling meant that a short-squeeze was possible. How high can this rally go? These gains are not enough for XRP bulls to celebrate The 1-day chart showed a large imbalance (white box) left behind during the 10/10 crash. In the weeks since then, this region acted as an effective resistance. The downturn in November, and especially after the 11th of November, saw heavy selling volume. This was enough to force the XRP price to make a new swing low and keep its downtrend going. As things stand, the daily timeframe structure remains bearish. On the 4-hour chart, the internal structure was bullish. The most recent lower high, set at $2. 15 on the 20th of November, has been breached. Yet, the OBV has not climbed past the recent lower high. This was a sign of weak buying volume on the way higher. In the past three months, this is not the first time XRP has breached a local lower high on the 4-hour chart. These moves tended to reach the region that launched an impulse move. An example is the rally to $2. 55 on the 10th of November. This level was a high from earlier in the month. Once retested, it saw the next downward impulse move begin, which ended recently. Therefore, XRP bulls should remain cautious. A rally to $2. 4-$2. 5 is possible, but might have the same result again.
https://bitcoinethereumnews.com/tech/xrp-price-prediction-can-etf-hype-push-it-past-key-danger-zone/

What happened after Cardano was ‘taken down by a kid?’ Mapping investor confidence

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Key Takeaways What triggered Cardano’s recent sell-off? A rare partition event exposed vulnerabilities in Cardano’s network, disrupting DeFi activity, stake pool operators, and damaging stakeholder confidence. How weak is ADA, fundamentally? ADA has already shed 50% in Q4 and is technically fragile. Analysts suggest another 5× drop could align fundamentals with network strength. Cardano has been among the worst Q4 performers among large-cap cryptocurrencies so far, shedding 50% of its value. However, looking back, ADA has been bearish since peaking in mid-August above $1. This means that Cardano [ADA] was already in a technically weak spot before the October crash, with bulls failing to defend key support zones. That crash further eroded stakeholder confidence, pushing ADA back to pre-election levels. In such a fragile environment, even a small trigger could spark a major sell-off. Recently, Cardano experienced a rare partition event. The incident was later addressed by founder Charles Hoskinson. In his post, Hoskinson emphasized the seriousness of the issue, noting that “it will take weeks to clean up this mess.” For context, the partition event was caused by a glitch, creating a split in Cardano’s blockchain history. Hoskinson highlighted the impact of the incident, explaining how the “accidental” action by a user disrupted the network, affecting DeFi activity, stake pool operators (SPOs), and damaging Cardano’s overall reputation. However, the market reaction largely contradicted this perspective. Many viewed the event as a “much-needed” catalyst that exposed vulnerabilities in the network and sparked debates about Cardano’s resilience. Community questions Cardano’s technical strength This partition event has once again put Cardano’s resilience under scrutiny. Price-wise, ADA has already shaken stakeholder confidence, emerging as one of the weakest top-cap assets. The recent network issue has worsened the situation, further dampening market sentiment. On-chain data reflects this weakness as well. According to Token Terminal, Cardano’s key metrics are deep in the red. For instance, 30-day trading volume is down 25%, while network fees have fallen by 22%. In simple terms, the network was already weak before the incident. Adding to this, an X page noted that ADA is overvalued, suggesting that another 5× drop may be needed to bring Cardano’s fundamentals in line with its technical positioning. If that happens, ADA could fall to $0. 08. Technically, that would represent a full-fledged price collapse. In this context, Cardano’s recent partition event was more than just a glitch. Instead, it acted as a catalyst that exposed ADA’s perceived overvaluation.
https://bitcoinethereumnews.com/tech/what-happened-after-cardano-was-taken-down-by-a-kid-mapping-investor-confidence/

‘Chaos is coming for Bitcoin in the next few months,’ claims CEO

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Key Takeaways What happens when mining becomes unprofitable? Miners may shut down rigs and sell their Bitcoin reserves to cover costs, adding sell pressure and risking a market downturn. Does a drop in miners weaken the network? Yes. Fewer miners mean reduced hashrate, lower security, and slower block processing. Bitcoin mining has entered a worrying phase, raising fresh concerns across the crypto market. According to the latest data from MacroMicro, the average cost to mine a single Bitcoin has dropped to $112,025. This has sparked questions about the industry’s profitability and long-term sustainability. This sharp decline comes at a time when market sentiment is uncertain, fueling fears that miners may soon face financial pressure if prices continue to fall. All about mining costs Highlighting the same, Jacob King, CEO of SwanDesk, noted, “People don’t realize how much chaos is coming for Bitcoin in the next few months. Bitcoin mining has entered its most unprofitable stretch in a decade.” He added, “It currently costs a whopping $112K to mine a single Bitcoin, that’s now only worth $86K and falling fast. It’s only a matter of time before miners shut down, the network shrinks, and a cascading crash follows.” Needless to say, a decline in miner profitability doesn’t just affect operations. In fact, it can trigger a chain reaction across the market. When mining costs outweigh returns, companies are forced to liquidate their Bitcoin [BTC] reserves to stay afloat. This could increase the sell pressure, potentially dragging prices lower. Thus, if this trend intensifies, the market could see miner capitulation. This is where large numbers of miners shut down, weakening network security and reducing overall hashrate. Together, these factors could heighten the risk of a deeper market downturn. Especially if Bitcoin continues to trade below its production cost. Analysts are not worried Why? However, some like CoinW’s Chief Strategy Officer Nassar are not worried. He said, “Many people see mining costs above spot as a crisis signal, but this phase is actually part of Bitcoin’s economic design.” Despite the growing panic around sub-cost mining, the analyst argued that this phase may actually strengthen the Bitcoin network rather than weaken it. Nassar explained that when Bitcoin trades below the marginal cost of production, inefficient miners shut down first, reducing hashrate and triggering a difficulty reset. This process removes weaker participants and eases selling pressure, allowing the network to rebalance. Historically, such stress points do not lead to a simple “miners quit, price collapses” outcome. Instead, they often precede supply squeezes and renewed accumulation once the market stabilizes. In essence, short-term pain creates a more efficient network and sets the stage for healthier long-term growth. This, even though market participants rarely recognize this shift until after the reset. Bitcoin price action and more trends Worth noting, however, that this recalibration is unfolding as Bitcoin falls sharply on the price charts. In fact, BTC lost over 10% of its value in the last 24 hours, while also falling by 23% over the past month. Such a downturn can be reflected by the performances of public mining companies like Cipher Mining, IREN, Bitfarms, and CleanSpark. Each one of them has registered notable losses. Meanwhile, miner earnings have taken a substantial hit too, with monthly revenue falling from $1. 62 billion in October to $851. 84 million in November. Combined, these figures highlight just how financially pressured miners have become. Even as the network mechanically adjusts to restore long-term stability. While miners still face short-term financial stress, cost efficiency could ultimately support a healthier mining ecosystem.
https://bitcoinethereumnews.com/bitcoin/chaos-is-coming-for-bitcoin-in-the-next-few-months-claims-ceo/

Analyst’s warning – Bitcoin’s early-2026 rebound could precede a major crash!

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**Has Bitcoin Entered a Bear Market?**

The question on every investor’s mind is: has Bitcoin entered a bear market? The answer is not conclusive—at least, not yet. There is still another week for Bitcoin (BTC) to respond following the recent formation of a death cross.

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**Signs of Recovery to Watch**

One of the key signals that could indicate a recovery would be Bitcoin moving beyond the $110,000 mark, corresponding with the 50-day moving average (50DMA), within November. Such a move would draw parallels to Bitcoin’s price action seen back in April.

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**Repeating Patterns: March vs. Today**

Bitcoin’s price movements in recent weeks bear striking similarities to those observed earlier this year in March. On both occasions, Bitcoin broke down beneath a 3-month range formation that followed new all-time highs. This pattern has caught the attention of market analysts.

In a recent post on X, analyst EndGame Macro shared insights suggesting Bitcoin is likely to find support and bounce back in early 2026, based on detailed financial analysis. However, it comes with a cautionary note—the bounce is unlikely to mark the start of the next major rally like the one seen in April and May.

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**Why Caution is Warranted for 2026**

Several factors contribute to the expectation of a potential slump in Q2 2026. The analyst highlighted the drying up of liquidity during tax season and the U.S. Treasury’s plan to build up the Treasury General Account (TGA), which tightens liquidity conditions. These elements could reduce risk appetite considerably, resulting in Bitcoin struggling and possibly sinking further into a bear market.

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**What Lies Ahead?**

The critical question remains: will Bitcoin repeat the March-April 2025 scenario, where a rally led to new all-time highs? Or will we experience a brief bounce in Q1 2026 that misleads investors into a false sense of security before the price dips deeper?

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**Analyzing the Macro Environment**

Understanding the broader economic indicators is essential for making sense of the situation and for Bitcoin bulls to strategize accordingly.

One such indicator is the U.S. Dollar Index (DXY), which measures the value of the U.S. dollar against a basket of six foreign currencies. A rising DXY trend signals dollar strength, often leading to weaker Bitcoin performance due to reduced risk appetite. Conversely, a falling DXY indicates a weakening dollar, generally associated with stronger Bitcoin performance and a more risk-on sentiment.

Since 2021, when the Bitcoin bear market began, the DXY had been on a strong uptrend. Currently, the DXY is maintaining a bearish structure—a positive sign for Bitcoin. However, this could change.

Interestingly, the probability of a Federal Reserve rate cut in December has dropped sharply from 88% a month ago to 44% now. This uncertainty around rate cuts could halt the current DXY downtrend, which would be unfavorable for Bitcoin bulls.

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**Investor Sentiment and Market Flows**

Further reflecting the prevailing market mood, exchange-traded funds (ETFs) have experienced significant outflows since the market crash on October 10th. This trend highlights weak investor sentiment and underscores the strength of bearish market forces, although it does not guarantee sustained losses.

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**The Significance of the Death Cross**

Benjamin Cowen, CEO and founder of Into The Cryptoverse, pointed out the formation of a Bitcoin death cross in a recent post on X. Historically, death crosses have marked market bottoms. However, if Bitcoin fails to respond bullishly within a week by challenging the 50DMA at $110,000, the death cross could instead signal a “macro lower high.”

Such a lack of a positive response would suggest that Bitcoin may attempt another rally towards the $110,000 region but only to form a macro lower high—a bounce that is part of a larger downtrend. This outlook aligns with the expectations for Q2 2026 discussed earlier.

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**Conclusion**

While Bitcoin has yet to definitively enter a bear market, key indicators point to cautious optimism mixed with underlying bearish risks. Investors and bulls should watch the $110,000 level closely and remain vigilant about macroeconomic factors driving market sentiment. The coming weeks will be crucial in determining the direction of Bitcoin’s next major move.
https://bitcoinethereumnews.com/bitcoin/analysts-warning-bitcoins-early-2026-rebound-could-precede-a-major-crash/

Transak expands stablecoin services with 5 new US state licenses

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**Transak Expands Regulated Fiat-to-Crypto Operations with New Money Transmitter Licenses in Five US States**

Transak, a stablecoin payment company, has recently secured money transmitter licenses in five additional US states: Iowa, Kansas, Michigan, South Carolina, and Vermont. This strategic move enables the company to broaden its regulated fiat-to-crypto services across the country.

Money transmitter licenses are essential for companies that facilitate cryptocurrency transactions, as they are required in most states. By obtaining these licenses, Transak demonstrates its commitment to compliance and regulatory standards, which is crucial in the evolving landscape of digital asset services.

The expansion highlights the ongoing challenge for crypto firms to navigate the complex, state-by-state compliance requirements for stablecoin operations in the United States. This patchwork regulatory approach underscores the need for companies like Transak to build robust infrastructure that supports broader fiat-to-crypto accessibility while adhering to varying state regulations.

As regulatory scrutiny of digital assets intensifies, Transak’s latest licensing achievements position the company to better serve its customers and contribute to the growth of regulated, secure crypto payment solutions across the US.
https://cryptobriefing.com/transak-expands-stablecoin-us-licenses/

XRP’s price jumps 7% as nine ETFs hit DTCC listings – What next?

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**Key Takeaways**

Why are XRP traders excited right now? The Depository Trust & Clearing Corporation (DTCC) has listed nine Spot XRP ETFs, fueling speculation that regulatory approvals could come soon. This development, combined with ongoing shifts in the regulatory landscape, has many traders preparing for what could be a crucial few weeks ahead.

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### Nine XRP ETFs Listed

The U.S. DTCC has officially listed nine Spot XRP ETFs, including products from major issuers such as Bitwise, Franklin, and CoinRPK. The market buzz suggests that approvals for these ETFs could arrive as early as November.

Additionally, progress in the U.S. Senate toward ending the government shutdown may accelerate SEC reviews, increasing the chances of a Spot XRP ETF launch before the end of the year.

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### How is the Market Reacting?

XRP’s Open Interest (OI) has climbed significantly, reaching around $1.32 billion at the time of writing. However, despite this growing engagement, the average Funding Rate remains negative at -0.145%. This indicates that while traders are active, many remain cautious and are still shorting XRP rather than fully backing an upside move.

This hesitancy shows that market participants are engaging but have yet to be fully convinced about sustained momentum. Should the Funding Rate flip positive alongside further Open Interest growth, it could signal growing bullish confidence, potentially pushing XRP’s price higher.

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### Momentum Catches Up as Bulls Step In

Over the past 24 hours, XRP surged by more than 7%, reclaiming the $2.54 level amid strengthening bullish sentiment. The Relative Strength Index (RSI) shows increasing buying pressure but has not yet entered overbought territory, indicating room for further upside.

Trading volume has picked up, lending credibility to the recent price push. On-Balance Volume (OBV) has also trended higher lately, suggesting that traders have been accumulating XRP.

If XRP can maintain this momentum and break above the key resistance zone at $2.60, it could pave the way for a run toward $2.80. However, sustained strength in both volume and RSI will be essential to confirming this potential breakout.

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### Conclusion

With fresh ETF listings and regulatory developments on the horizon, XRP traders are cautiously optimistic. While the market shows signs of building momentum, it will be critical to watch Open Interest, Funding Rates, and technical indicators closely in the coming weeks to gauge whether this excitement translates into a sustained bullish rally.
https://bitcoinethereumnews.com/tech/xrps-price-jumps-7-as-nine-etfs-hit-dtcc-listings-what-next/

PENGU’s 22% fall – What happens now that the buy signal is live?

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**Why Did PENGU’s Price Crash Today?**

Pudgy Penguins (PENGU) memecoin experienced a significant price drop of over 10% today, primarily driven by leveraged shorts piling in near the $0.0157 level. This aggressive shorting pushed the price lower amidst broader market weakness following Bitcoin’s dominance surge since the October 10 crash.

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**What Are Pundgy Penguin Traders Watching Next?**

Top wallets currently hold approximately 97% of PENGU, suggesting a potential rebound if the price can reclaim support around $0.0177 soon. This area is critical for confirming any recovery and shifting the market sentiment back to bullish.

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**PENGU Falls 10% but Flashes a ‘Buy’ Signal**

Over the past 24 hours, PENGU’s price slid more than 10%, accumulating nearly a 22% loss since the beginning of November. Despite the bearish price action, the Cumulative Volume Delta (CVD) indicates some recovery—improving from -$326 million last week to -$64 million currently—implying sellers might be losing momentum.

Additionally, the MACD recently turned faintly green, signaling that bulls are becoming alert to a monthly discount that’s less than a week old. Supporting this positive outlook, Ali Charts’ analysis highlights a buy signal from the TD Sequential indicator around the $0.015 zone, which is roughly two-thirds down from the late August highs of $0.045.

For the bullish momentum to gain traction, PENGU must flip the $0.01772 to $0.01900 zone from resistance to support. While these indicators offer some hope, the overall chart structure remains bearish on both daily and hourly timeframes at the time of writing.

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**Top Traders Stay Long Despite Volume Spike**

Data from Nansen AI reveals that 24-hour trading volume surged to $241.7 million—nearly 48 times the daily average. This volume spike coincided with the price drop, signaling heavy distribution activity.

Nevertheless, the top-performing PnL traders are holding firm, maintaining 97% of their positions. Notably, one wallet accumulated an additional $75,000 worth of PENGU, backing a short-term bullish bias. Still, despite these signs of accumulation, the broader structure stays bearish on both hourly and daily charts.

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**Leverage and Shorts Push Prices Lower**

Aggregate exchange data shows cumulative shorts at $7.68 million, significantly outnumbering longs at $3.67 million. The most intense leveraged short positions—ranging from 25x to 50x—clustered around the $0.01579 price level.

Binance alone accounts for $3.35 million in shorts compared to $1.77 million in longs. This imbalance confirms that the recent downward pressure was primarily triggered by leveraged derivatives traders, rather than spot market selling.

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**Conclusion**

While derivatives-driven shorting led to the recent price drop, the strong holding by whales and emerging buy signals point to bottom-seeking behavior rather than a complete market recovery. If spot demand increases and PENGU can reclaim the $0.0177 support level, this accumulation by top traders may limit further downside and set the stage for a potential rebound.
https://bitcoinethereumnews.com/tech/pengus-22-fall-what-happens-now-that-the-buy-signal-is-live/

Phantom launches limit orders for Phantom Perps

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Phantom, the Solana-focused wallet app, has introduced an exciting new feature: limit orders for its Perps trading functionality. This update allows users to enhance their perpetual futures trading experience directly within the mobile wallet.

With the launch of limit orders for Phantom Perps, users can now set take profit and stop loss triggers on their perpetual futures positions. This enables automated closures when target prices are reached, helping traders manage their risk and secure profits without constant monitoring.

One of the standout features is the intuitive drag-and-drop interface on the perp chart, which makes adjusting stop-loss and take-profit levels simple and user-friendly. This visual approach to risk management empowers users to fine-tune their strategies with ease.

Additionally, Phantom now supports the ability to add to existing perpetual futures positions. Traders can increase their exposure while maintaining consistent leverage, offering greater flexibility and control over their trades.

With these enhancements, Phantom expands beyond basic trading functionalities, introducing advanced order management tools that cater to more sophisticated trading strategies—all within a seamless Solana wallet experience.
https://bitcoinethereumnews.com/tech/phantom-launches-limit-orders-for-phantom-perps/

Orderly Network initiates $ORDER buyback program

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Orderly Network has launched a buyback program for its native RDER token, repurchasing tokens from the open market using treasury funds. This initiative marks a significant step in strengthening the value and utility of the RDER token within the ecosystem.

A recent governance proposal enables the funding of buybacks directly from protocol fees, allowing up to 60% of net transaction fees to be used for repurchasing tokens. This enhancement increases the community’s role in value distribution by linking protocol performance directly to token demand.

Orderly Network is a decentralized finance (DeFi) platform that powers multiple trading applications. It combines the speed of centralized exchanges with the security benefits of blockchain technology, offering users efficient and reliable trading experiences.

The buyback mechanism empowers the community wallet to acquire RDER tokens through collective decision-making processes. This approach ensures that the buyback program aligns with the interests of the broader community rather than being unilaterally controlled.

Additionally, stakers now receive vested portions of repurchased tokens, which helps align incentives for long-term protocol growth. By distributing tokens gradually, the protocol encourages sustained engagement and commitment from its token holders.

The protocol treasury assets can also be directed by governance votes to either generate additional yields or retain repurchased tokens. This flexibility gives the community the power to manage the buyback program’s implementation in a way that best supports the protocol’s health and growth.

Overall, Orderly Network’s buyback program represents a community-driven effort to enhance token value, promote long-term participation, and ensure sustainable growth within the DeFi ecosystem.
https://cryptobriefing.com/orderly-network-order-buyback-program-initiated/