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Cryptocurrencies have brought about one of the biggest paradigm shifts in finance in recent memory.  While they carry the potential to turn the tide in favor of decentralization and transparency, practical use cases are still in their infancy. On the other hand, digital assets have seen widespread adoption in the form of speculative investments. Once the domain of the particularly internet-savvy, they are now widely available and enjoy strong mainstream appeal. As this nascent industry matures, the rough edges are being smoothed out. While cryptocurrencies are still very volatile, they’ve slowly begun to stabilize — whether through a stronger correlation with the performance of traditional assets, the advent of stablecoins, or institutional involvement.  Picks for you The Bitcoin ‘train still has room to run' after the $107,0...

A widely followed cryptocurrency analyst and trader is leaning bullish on the second-largest memecoin by market capitalization. The analyst pseudonymously known as Bluntz tells his 302,600 followers on the social media platform X that a “god candle”, a massive candlestick denoting a rapid and sustained upward price action, is loading for Shiba Inu (SHIB) as the Dogecoin (DOGE) rival attempts to break above a resistance level that has been in place since March. “shib god candle loading” Source: Bluntz/X The widely followed analyst further says, “I’m convinced retail [investing crowd] is going to pump SHIB when the meme bid comes back because it’s a dinosaur coin that they still have in their wallets from last cycle.” SHIB is trading at $0.0000316 at time of writing. Against its Bitcoin (BTC) pair, Bluntz says that Shiba Inu is in a “bargain basement pricing” zone. Source: Bluntz/X The analyst is also leaning bullish on Doge...

A single crypto wallet is trading tens of millions of dollars on Polymarket, a crypto-friendly prediction market. The trader, known by its social handle Fredi9999, has transacted over $73 million worth of mostly pro-Donald Trump bets and currently has $12 million on the line for Trump winning the election on November 5. Although higher frequency traders have transacted larger volumes on an absolute basis, Fredi9999 is the site’s most profitable crypto wallet this month and second-most profitable trader of all time. As the trader climbed the Polymarket leaderboard, it attracted media scrutiny for its political motivations. Specifically, some people believe that the trader’s wealth is creating a 5-8% ‘Fredi premium’ on Polymarket’s 2024 US presidential election market. Others estimate its impact at an even higher 13%. Because changing prices in liquid markets cause a variety of emotional and non-quantifiable changes in traders’ behavior, it is impossible to determine the exact impact...

Bitcoin (BTC) has traded in a tighter price range in the past 18 days, marking key support and resistance levels. These key levels make for ideal and high-risk entry points in Bitcoin, respectively, as the leading cryptocurrency decides its direction. In a post on X, the prominent Bitcoin and crypto trader who goes by Credible Crypto warns of impending volatility. According to him, BTC is currently at a high-risk entry point, trading near the range’s resistance level. Thus presenting a short-term retracement possibility, targeting the range lows, which corresponds to an ideal entry point at price support. Moreover, Credible Crypto attributes the incoming volatility to a surging open interest (OI) despite the tight neutral range. Therefore, the trader foresees a short or long squeeze that could cause a deviation and possible breakout from this range. Picks for you ...

Another crypto trader has made waves in the cryptocurrency market with impressive results trading on the decentralized finance (DeFi) ecosystem. The trader made over $1.4 million in unrealized profits with the meme coin PEW on Ethereum (ETH). As developed, the address starting with ‘0x8EF73‘ bought 27.05 billion PEW with 3.2 ETH, worth $12,300. Lookonchain spotted and reported this crypto trader ’s activity on May 31 in a post on X. Notably, ‘0x8EF73’ already sold 8.05 billion PEW for 83.5 ETH, worth $315,000—over $300,000 in realized profit. As of this writing, the monitored account holds 1 billion PEW worth $61,000. Picks for you Expert sets Dogecoin price for this market cycle, expects ‘massive breakout’ 39 mins ago ...

Bitcoin approaches the end of April barely moving as BTC price offers little short-term clues on trajectory. Bitcoin (BTC) narrowed volatility on April 30 as the weekly and monthly candle closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees BTC price upside capped at $32,500 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it loitered just above $29,000 throughout the weekend. After unsettled price action earlier in the week, Bitcoin returned to sideways trading, with markets witnessing an eerie calm despite the potential for volatility thanks to lower weekend liquidity. As such, traders were hopeful that no unwelcome surprises would greet the candle closes. $BTC / $USD - Update Stablecoin Sunday for # Bitcoin today please pic.twitter.com/4qphyAOssT — Crypto Tony (@CryptoTony__) April 30, 2023 “Nothing has changed,” popular trader Elizy summarized in part of recent Twitter analysis of the 3-day chart. Elizy eyed a potentia...

The seventh edition of JPMorgan's e-Trading Edit asked 835 institutional traders about their plans for trading digital assets in 2023, among other topics. A whopping 72% of institutional e-traders have signaled “no plans to trade crypto/digital coins” in 2023, according to a new survey conducted by JPMorgan. The seventh edition of JPMorgan’s e-Trading Edit surveyed 835 traders from 60 different “global locations” about the technical developments and macroeconomic factors that will influence trading performance in 2023. The survey was conducted between Jan. 3 to Jan. 23, 2023. The survey revealed hesitation among traders around digital assets. Only 14% of respondents said they will either continue to trade in the digital asset market or begin trading this year.  The remaining 14% of respondents, said they didn't plan on investing this year but may do so within the next five years. 92% of the institutional traders surveyed by JPMorgan did not — at the time of the survey — have...