On-chain data shows that Bitcoin retail buyers have been loading up the recent dip, a move that also coincided with price gains above $26,000, relieving traders and holders. Early this week, BTC prices crashed to as low as $24,820 before recovering to spot rates, adding 8% in four days.

Retail Investors Are Buying The Dip

Following a turbulent week in the crypto space, which involved the United States Securities and Exchange Commission, Binance and crypto securities-related drama, the price of Bitcoin dipped below $25,000 after the Federal Reserve paused their rate hikes and keeping the US fund rate within the 5% and 5.25% zone, increasing the uncertainty within the market.

However, the crypto market has since rebounded, with retail bitcoin investors, characterized by those holding 0.01 to 1 BTC, stepping in to buy up the dip.

Interestingly, the dip-buying behavior exhibited by retail investors is similar in level to that observed during the Silicon Valley Bank (SVB) collapse earlier in the year, but less than that of the post FTX collapse crash which saw Bitcoins price tank below $16,000.

With retailers loading up, it could indicate that traders and holders are confident of what lies ahead despite recent unfavorable fundamentals.

Bitcoin Whales On The Move

Meanwhile, with active Bitcoin retail buyers ramping up, whales have also been on the move. Crypto whales are addresses holding large amount of coins.

A Twitter user also noted that a user with 50 BTC worth around $1.2 million recently moved his coins after being dormant since 2010.

The batch of coins was originally mined in June 2010 and had remained untouched since then before being moved.

Following the trend, another previously dormant Bitcoin wallet, that has been dormant for a decade, transferred $7.8 million worth of BTC to a new wallet. Another long-term holder moved $11 million worth of BTC after more than 11 years of inactivity.

At the pivotal moment of BTCs price and the crypto space, speculators are raising questions about the motives behind such massive movements of BTC. It is known that the trading activities resulting from the transfers can impact the coins supply and demand dynamics of Bitcoin, potentially exerting short-term influence on prices.

As of writing on June 18, Bitcoin is firm above $26,500, and has reversed losses of June 14. With retailers appearing to be buying the dip, prices may recover in the days ahead, even rallying to $30,000.

...

Aptos (APT) has shown an impressive market performance in the last week gaining by 18.25% to emerge as one of the biggest weekly gainers on CoinMarketCap. This positive price movement is quite significant for many APT investors, as the APT market has been under bearish control for most of 2023.

Aptos Unimpressive 2023

Aptos began the year with a bang, surging by over 500% to hit its all-time high price of $18.58 on January 26. However, the prominent altcoin had since experienced a steady decline since then, with little insignificant price rises. 

Due to such disappointing price movement, much concern has been over what was touted as one of the most promising tokens of 2023.  The Aptos project, which was launched back in October 2022, received a lot of hype coming into the crypto space. 

Much of this interest was driven by the blockchain being an indirect product of the now-defunct Diem blockchain initiative. Aptos boasts various impressive features, including a unique programming language Move a parallel execution engine, low transaction costs, and high-level security features. 

On June 10, APT was trading as low as $5.74, indicating a 69.11% decline from its ATH value in January. However, following its recent impressive performance, many investors wonder if the altcoin could actually be readying for market reversal.

Based on data from CoinMarketCap, APT is trading at $7.05, with a 5.38% gain on the last day. The tokens daily trading volume has also moved by 125.76%, attaining a value of $274 million. Meanwhile, APTs market cap is currently at $1 billion. 

Is The Market Reversal On?

As earlier stated, APTs current bullish run led to much speculation among investors, with many hoping the token could soon return to the glorious heights seen at the beginning of the year. 

This discourse is further fueled by various on-chain activities, an example of which is the gradual increase in daily user transactions on the Aptos network over the last few months. 

According to data from aptscan.ai, an analytics tool native to the Aptos chain, the number of daily active daily transactions on the network moved from 75,806 on March 1 to 162,071 on June 16, yesterday. 

...

In recent weeks, the burn numbers of Shiba Inu tokens have not been particularly great, especially in the past seven days. This is despite the growing optimism amongst investors about the ecosystems prospects. In fact, there are speculations about a potential bullish run as things stand.

The price of the SHIB coin has been on a steady rise recently, gaining over 7% in the last seven days. According to data from CoinGecko, SHIB is currently valued at $0.00000716, with a daily trading volume of more than $118.9 million.

Related Reading: Shiba Inu (SHIB) Positive Social Sentiment Sparks Bullish Speculation

SHIB Burn Rate Drops By 87%

The amount of SHIB tokens sent to the dead wallet has decreased dramatically in the past seven days. Interestingly, these dwindling burn numbers coincide with the launch of an in-real-life (IRL) component by the popular meme-inspired ecosystem. This positive development capped off what was an overall great week. 

That said, the dramatic dip in the amount of Shiba Inu tokens being burnt might be something to worry about. According to data from the Shibburn wallet tracker on Twitter, only 38,673,239 SHIB tokens were transferred to the dead wallet in the last seven days, indicating an 87% overall decrease in the tokens burn rate.

It is worth noting that SHIBs burn rate is on some recovery at the moment, as over a million tokens have been set ablaze in the past day. This represents a whopping 281% burn rate increase in the last 24 hours.

Shibacals Launches In Anticipation Of Shibarium

Shytoshi Kusama, a prominent Shiba Inu developer, has noted in the past the challenge of moving the SHIB price based on burns only. He, however, said introducing new technologies and utilities and expanding the ecosystem can help boost SHIBs value.

With the falling burn numbers and the launch of Shibarium drawing closer, it is clear that there should be a focus on improving the projects value through new products and technologies. Hence, it can be said that the launch of Shibacals the in-real-life component of Shiba Inu is a move in the right direction. This newly-launched product is expected to push the...

Binance, the global crypto exchange renowned for its vast scale and influence, has taken a step towards promoting the widespread acceptance and usage of Floki Inu, the popular memecoin that has captured the attention of crypto enthusiasts worldwide.

Embarking on a strategic initiative, Binance has ingeniously incorporated Floki Inu into two exceptional categories within its expansive ecosystem, namely the Metaverse and Gaming sections.

With this development, Binance has effectively opened up new avenues for the crypto named after billionaire Elon Musks dog, propelling its growth trajectory and solidifying its position as a prominent player in the ever-evolving crypto landscape.

#Binance has added $FLOKI to the #Metaverse and #Gaming categories on its exchange!

This is a big deal and allows millions of users to trade #Floki alongside top metaverse and gaming cryptocurrencies like $SAND, $MANA, $AXS, $IMX, $GALA, and $ENJ.#Floki adoption continues! pic.twitter.com/UKIssfoOih

FLOKI (@RealFlokiInu) June 16, 2023

The Floki Inu team may have hoped that news of Binances decision to add the meme to the Metaverse area would increase the value of their coin, but this was not the case today.

Floki Inu Price Wasnt Feeling It

At the time of writing, FLOKI price was nearly...

Bitcoin CME Futures BTC1 front month continuous contract price action closes over the weekend, making Friday evening the closing bell for the week. This Fridays close saw price recover above a crucial level that in the past led to a bullish impulse in crypto. Here is a closer look at why bulls could be ready to charge in the coming weeks.

Using BTC CME Futures As A Crypto Crystal Ball

Large institutional traders dont just trade spot BTCUSD, nor do they trade on Binance, ByBit, or another crypto platform. When they want to speculate and trade using derivatives contracts, they look to the Chicago Mercantile Exchange, better known as CME Group.

Unlike the 24/7, always-on crypto market, CME Group charts close down for the weekend and holidays much like stocks. Due to this behavior, the chart often features gaps that dont appear on standard BTCUSD price charts. Discrepancies between BTC CME Futures charts and BTCUSD charts can lead to fakeouts and shakeouts.

Because Bitcoin CME Futures does stop on Friday for the weekend, it also can provide early clues as to how spot price charts might close on Sunday night. In this case, BTC Futures has reclaimed the Bollinger Band basis line, often referred to as the mid-BB.

Bitcoin Price Recovers Above The Bollinger Band Basis Line

The basis line on the Bollinger Bands is a 20-period simple moving average. The tools creator, John Bollinger, then adds an upper and lower band set at two standard deviations of the SMA. This causes the bands to expand and contract with market volatility.

Like any moving average, it can act as dynamic support a...

Polygon (MATIC), one of the prominent Web3 networks, has recently experienced a period of volatility in its price. Currently trading at $0.625112 USD, with a 24-hour trading volume of $547,815,952 USD, MATIC has shown a 9.63% increase in the last 24 hours. Polygon has rebounded from the bearish sentiments earlier in the week. This comes on the back of recent developments within the Polygon ecosystem towards increasing utility and partnerships with key financial institutions. 

Polygon Launches The Value Prop

Polygon has made an important announcement, launching The Value Prop, an open database of blockchain use cases. This comprehensive catalog contains over 300 applications and diverse use cases across multiple business sectors, blockchain networks, and geographical locations. The initiative aims to showcase positive applications for blockchain technology, presenting it as a versatile tool beyond asset trading.

Related Reading: Percentage Of ETH Addresses In Profit Reaches 5-Month Low

Amid the negative sentiment surrounding blockchain technology due to regulatory pressures on major market participants like Binance and Coinbase, Polygons move to highlight real-world applications is significant. It aligns with the belief among Web3 experts and industry players that blockchain should be viewed as a general-purpose technology addressing real-world challenges.

Web3 Development And Positive Trends

Polygons efforts to boost Web3 development and unlock new use cases align with the industrys overall trajectory. Ripple (XRP) recently partnered with Banco de la Repblica, Colombias central bank, to explore blockchain use cases. This indicates a growing recognition of the potential of blockchain technology beyond cryptocurrencies.

Polygons co-founder, Sandeep Nailwal, also launched the Nailwal Fellowship, a grant program providing financial support and resources to early-stage Web3 developers. This initiative offers funding, mentorship, and access to top founders and investors, nurturing the growth of the Web3 ecosystem.

...

A throwback article just came back to haunt one of the crypto industrys favorite crypto investigators. ZachXBT, a popular crypto on-chain sleuth recently got slapped with a defamatory lawsuit over an article he published last year. 

The Controversial Article That Started It All

Around a year ago, ZachXBT published an article accusing Jeffrey Huang aka MachiBigBrother, of embezzling crypto assets using various methods ranging from failed pump and dump tokens to NFT projects. The article quickly gained widespread attention at the time, but it has been largely forgotten up until this point. 

Jeffrey Huang, known online as Machi Big Brother, is a former Taiwanese-American musician and tech entrepreneur. 

Huang has now filed a defamation lawsuit against ZachXBT, claiming the year-old article has damaged his reputation. Huang has insisted, at least according to a post that he published on Twitter, that ZachXBTs charges are false and defamatory. As a result, he has decided to sue for defamation of character.

A cursory reading of the article, on the other hand, reveals that it is an investigational piece that goes into considerable detail. In the article, ZachXBT provided on-chain data to back up his claims. The crypto sleuth initially accused Machi Big Brother of embezzling 22,000 ETH from Formosa Financial, a treasury management platform built for blockchain companies in 2018. Furthermore, ZachXBT then provided a list of other projects like Machi X and Wifey Finance.

How ZachXBT Is Fighting Back Against The Lawsuit

ZachXBT is not taking this lawsuit lying down as hes come out swinging against what he calls a baseless lawsuit with an attempt to chill free speech. ZachXBT has asked his followers and subscribers to support him against censorship and cancel culture, ensuring the truth survives. 

He termed the whole situation as a classic David & Goliath story, and many have spoken out on social media defending his right to express his opinions. Brown Rudnick, a law firm with its headquarters in Boston famous for defending Johnny Depp in his case against his ex-wife Amber Heard, has agreed to represent ZachXBT in the lawsuit.

...

Binance Coin (BNB), the native token of the Binance exchange, has recently experienced a period of sideways movement. Despite reaching a weekly high of $307 on June 4th, BNBs price has encountered resistance and is currently trading at $246.2. This article provides an analysis of the recent price action, discusses the potential reasons behind BNBs performance, and explores the future prospects for the coin.

The recent decline in BNBs price can be attributed to several factors. Firstly, the overall market sentiment has been influenced by a broader correction in the cryptocurrency market. Many altcoins, including BNB, have witnessed a decrease in value as investors take profits and adjust their portfolios. Additionally, concerns over regulatory developments and market uncertainties have added to the selling pressure on BNB.

Bearish Threat And Technical Indicators

Despite attempts by bulls to regain control, bears pose a significant threat to BNBs price stability. The crucial resistance level of $308 has become a battleground for market participants. If the bears manage to break down this level, it could trigger a further sell-off, potentially pushing the price lower. 

Technical indicators paint a cautious picture for BNB. The Moving Average Convergence Divergence (MACD) indicator has exhibited a bearish crossover, signaling a continuation of selling pressure in the near term. Furthermore, the Relative Strength Index (RSI) currently stands at 35.63 levels, suggesting that there could be a further downside if buying pressure does not increase.

Related Reading: PEPE Jumps Nearly 10% In 24 Hours, Sparking Speculation Of A New Rally

Moreover, the 50-Weekly Moving Average positioned below the 200-Weekly MA indicates a bearish trend for BNB. This configuration suggests that the price could continue downward in the coming days unless significant positive developments or market catalysts emerge.

Whats Next For BNB?

Market participants will closely monitor the price action around the critical resistance level of $308. A successful breach above this level could ignite renewed bullish momentum, potentially leading to a recovery in BNBs price. Traders and investors will also pay attention to a...

Shiba Inu (SHIB), a cryptocurrency that has gained immense popularity and attention in recent months, is making waves once again as its price exhibits signs of recovery. 

This week, the SHIB price has displayed a promising uptick, maintaining a level above the $0.0000065 range. Moreover, on-chain data analysis reveals a notable surge in positive social sentiment within the vibrant Shiba Inu community. 

With these encouraging developments, investors and enthusiasts eagerly ponder whether this could signal a forthcoming bullish reversal for SHIB. Is it time for the Shiba Inu token to regain its momentum and embark on a new upward trajectory?

Growing Optimism Among Shiba Inu Investors

After a volatile start to the month, investors in SHIB are beginning to feel more optimistic about the projects prospects. This renewed optimism can be attributed, in part, to Santiments Weighted Sentiment, which assesses the overall mood of a blockchain community by comparing the number of positive comments to the negative ones.

Adding to the positive sentiment, the Shiba Inu community received intriguing updates from notable figures within the project.

Something physical is coming. #shib #shibarmy pic.twitter.com/XuAe2AkpJw

Shytoshi Kusama (@ShytoshiKusama)...

Pepe (PEPE) may seize the opportunity to rally in the face of an ongoing volatility and price swings in the crypto market. With Bitcoin (BTC) recently dipping below $25,000 before swiftly rebounding to $26,000, the market has been in a state of flux. Such fluctuations often create an environment ripe for alternative cryptocurrencies to make their mark, and PEPE could be poised to do just that.

PEPEs rally comes at a time when investors are seeking alternative options beyond the dominant cryptocurrencies. While Bitcoin continues to dominate the market, its price movements can have a cascading effect on other digital assets. 

That being said, can PEPE capitalize on Bitcoins volatility and secure its own rally to attract investors seeking new opportunities in the crypto space?

PEPE Price Recovery Potential

In recent market developments, PEPE has witnessed a notable rally, as reflected in its current price of $0.0000009779 on CoinMarketCap. This surge represents an impressive 8.5% increase within a 24-hour period.

However, its important to note that this upward momentum follows a preceding seven-day slump of 7.96%, underscoring the inherent volatility that characterizes the cryptocurrency market.

The price of PEPE has undergone substantial fluctuations since early May, resulting in a significant decline of over 50% in its overall value. This decline has caused a shift in the market structure, signaling a bearish trend as sellers capitalized on shorting opportunities when the support levels at $0.00000162 and $0.00000115 were breached.

...

The legal battle between Ripple and the Securities and Exchange Commission (SEC) has taken a new twist as top lawyers accuse former SEC Director William Hinman of being paid to attack XRP in favor of Ethereum (ETH). 

Following the release of Hinmans emails and drafts of his June 2018 speech, pro-XRP attorney John Deaton expressed his frustration with the intent of the released documents on a recent live CryptoLaw podcast. 

Payments To Disparage XRP In Favor Of Ethereum?

Jeremy Hogan, lawyer and cryptocurrency expert, also weighed in on the matter alleging that former SEC Director of Corporate Finance, Bill Hinman, was paid to give a speech in which he declared that Ethereum was not a security. 

According to Hogan, Ripple, a leading cryptocurrency company, has suggested that Hinman was paid by the Ethereum Foundation or someone related to Ethereum to give the speech and give Ethereum a free pass.

Hogans claims are based on email exchanges between Hinman and his colleagues, which reportedly show that Hinman had already named his first email the Ether speech before he began crafting the speech. 

This, according to Hogan, suggests that right from the get-go, Hinman is saying that ETH is not a security, and that was the point of him making the speech.

Hinmans speech, which was delivered in 2018, was seen by many in the cryptocurrency industry as a landmark moment in which the SEC effectively declared that Ethereum was not a security. 

This was seen as a significant victory for Ethereum and the wider cryptocurrency industry, as it provided clarity on how the SEC would regulate cryptocurrencies.

However, Hogan has suggested that the speech was not only a free pass for Ethereum but also an attack on XRP, which was at the time Ethereums biggest competition. Hogans claims are based on Ripples ongoing legal battle with the SEC, in which Ripple has argued that XRP is not a security and should not be regulated as such.

Hogans allegations are likely to fuel speculation about the relationship between the SEC and the cryptocurrency industry, and the extent to which the SECs decisions are influenced by external factors. However, it is important to note that Hogans claims are based on speculation and have not been proven.

At present, the value of XRP stands at $0.4731, indicating a marginal recovery of 0.6% over the past day. This comes after a dip to $0.4564 on Wednesday. Despite the recent drop, XRP enthusiasts remain optimistic and are looking forward to a positive outcome that could potentially boost the cryptocurrencys pric...

The brutal bear market in crypto over the past few months has taken a serious toll on ETHs price and profitability. The price of Ethereum has been stuck in a sideways range recently, and many ETH holders have been unlucky for it. According to data from Glassnode, the percentage of Ethereum addresses in profit has now dropped to a 5-month low.

Percentage Of Addresses In The Green Drops To 55.414%

Back in 2021, when the price of ETH was at its highest, the majority of addresses held a comfortable position. Now, two years later, for new investors who bought at higher prices, the wait for their positions to go green again has been a long one.

Glassnode, a crypto analytics platform, reports that the percentage of Ethereum addresses in green while measuring over a 7-day moving average is now at a 5-month low of 55.414%.

This indicates that more than 44 percent of the people who own ETH are currently at a loss. In the same vein, the number of profitable addresses has dropped to its lowest point since March of this year, standing at 56,311,171.899 at the moment.

Moving ETH Off Exchanges

The amount of ETH held on cryptocurrency exchanges has also dropped to its lowest level in over 5 years. This means less ETH is available for trading on exchanges, which can impact the price and liquidity. Traders are withdrawing their ETH from exchanges and holding it in private digital wallets. 

The drop can also be linked to an all-time high level of staking in the ETH 2.0 deposit contract. Data shows that the majority of ETH held by large investors are now moving ETH into the contract, showing that interest in ETH staking is growing. This declining supply, coupled with increasing mainstream interest in ETH, could drive the price higher i...

Bitcoin has been on a rollercoaster ride recently, with sudden price drops and spikes keeping investors on their toes. Last week, the cryptocurrency failed to break through its $27,500 resistance level and dropped to a low of $24,700. 

However, Bitcoin has again shown signs of regaining its bullish momentum, with a 5% increase in the last 24 hours and trading at $26,400 at the time of writing.

Many analysts have predicted a continuation of the uptrend in Bitcoins price, which has been ongoing since January 2023.

Bearish Momentum Fades As Bitcoin Retests $26,500

According to Glassnode co-founder Yan Allemann, the current stage in this trend is the retesting of the $26,200 level as bearish momentum fades. 

Allemann believes that this is an important stage, as it will determine whether Bitcoin can break through its previous resistance and move toward the next target of $27,200

However, while Bitcoin is showing signs of regaining its bullish momentum, its important to recognize that it is still fragile at this level. Therefore, building confidence among investors is crucial to sustaining Bitcoins upward trend.

On a positive note, BlackRocks recent application with the Securities and Exchange Commission (SEC) for its new exchange-traded fund (ETF) has given Bitcoin holders and bulls hope. 

As reported by NewsBTC, the recent announcement of BlackRocks Bitcoin exchange-traded fund has the potential to impact BTCs price significantly. If approved, this ETF would enable a wider range of investors to gain exposure to Bitcoin, which could drive up demand and ultimately increase its price.

ETFs provide a convenient way for institutional investors to access Bitcoin, creating a new demand avenue for the cryptocurrency. This could increase buying pressure and a potential surge in Bitcoins price.

Potential BTC Reversal From Support

Bitcoin has recently bounced from its bullish trend and the top of its range, indicating that it still has some work to do before establishing a sustainable upward trend. 

According to market analyst Crypto Con, one of the most accurate indicators of Bitcoins bullish or bearish momentum is the 140-day moving average (MA), which shows that BTCs price is below this crucial level.

The 140DMA is a widely followed indicator in the cryptocurrency market, as it clearly signals whether Bitcoin is in a bullish or bearish phase. 

When BTCs price is above the 140DMA, its a bullish signal, indicating that the cr...

Curve DAO token (CRV) has observed a 7% bounce during the last 24 hours as mass liquidations of short traders have occurred in the market.

Curve Funding Rates Turned Extremely Negative Following Price Decline

According to data from the on-chain analytics firm Santiment, an extreme amount of shorts had accumulated on the cryptocurrency exchange Binance recently. The relevant indicator here is the funding rate, which keeps track of the periodic fee that Curve perpetual contract traders on a specific exchange are paying each other right now.

When the value of this metric is positive, it means that the long contract holders are willing to pay a premium to the short contract holders in order to keep their position currently. Such a trend implies that bullish sentiment is held by the majority of investors.

On the other hand, negative values suggest that a bearish mentality is the dominant force in the market at the moment as the shorts are paying a fee to the longs.

Now, here is a chart that shows the trend in the Curve funding rates on the cryptocurrency exchange Binance over the past month or so:

As displayed in the above graph, the Curve Binance funding rate had assumed negative values recently as the cryptocurrencys price had continued to head downwards.

The decline in the assets price came in part because of all the FUD in the wider cryptocurrency sector, like the SEC charges against Binance and Coinbase, or the Fed interest rates decision, while the other factor was CRV-specific uncertainty.

The root cause of this FUD is the fact that the Curve Finance founder has taken up a large loan against a wallet that currently holds around 30% of the entire circulating supply of the token. As the price of the asset has taken a hit recently, concerns about this position getting liquidated have grown in the market.

Since the wallet holds such a significant part of the cryptocurrencys supply (288.7 million tokens to be precise), a potential liquidation could have wide-reaching consequences for the project.

From the graph, its visible that the Binance funding rate had become extremely red as this FUD spread around. This means that the sentiment on...

In an exciting development for the Shiba Inu community, the top developer working behind the scenes has unveiled another project before the launch of Shibarium.

The lead developer introduced their newest innovation, Shibacals, bringing them one step closer to their ambitious vision. Shiba Inu enthusiasts and investors can anticipate even greater possibilities with this new advancement.

Shytoshi Kusama Unveils Shibacals, A Promising Step Towards Shibarium Launch

Shiba Inu lead developer Shytoshi Kusama introduced Shibacals, sparking positive speculations and anticipation among the community. Kusama shared the hint in the Shibarium official Telegram group, directing the community to visit www.shibacals.com.

Related Reading: Cardano (ADA) Price Sheds 19% As Bearish Sentiment Looms Large

In a recent tweet, Shiba Inus content marketing specialist, Lucie, asked the community to follow Shibacals account with an attachment of Kusamas statement.

The news about the Shibacals followed hints that Lucie gave regarding an upcoming physical reveal. Shytoshi Kusama also hinted at the projects launch, which he classified as Something Physical.

However, a community member expresses displeasure with the launch of the Shibacals, raising questions regarding how the project will benefit the Shibarium community.

He expressed his concern that this action may solely be focused on taking advantage of the community to generate profit:

t has nothing to do with decreasing the #Shibs total supply or impacting the price by utility. If I am missing something, please educate me!

What Does Shibacals Entail?

As described on its official website, Shibacals brings a unique real-world feature to the Shiba Inu ecosystem. The project transforms digital NFTs into first-class, high-quality physical items like plushies or toys.

Shibacals primary g...