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TD Cowen anticipates a prolonged legal battle between Consensys and the SEC.The investment bank reiterates that it does not expect the SEC to approve spot Ethereum ETFs before 2025.
Transaction volume in the past 30 days for Tether, USDC, and DAI, has surpassed Visa’s 2023 monthly average, according to Nansen.
Ether has outperformed bitcoin for two consecutive weeks, as traders seek altcoin gains following the halving event, Bitfinex analysts noted.
Bitcoin hash price, the daily U.S. dollar value of a unit of hashing power, has fallen to fresh all-time lows. Despite a brief pop in revenue for miners post-halving amid the Runes frenzy transaction fee windfall, hash price has now dropped to less than $50 per PH/s per day.
Bitcoin miners are reaping the benefits of Runes after the halving, with skyrocketing transaction fees lessening the impact of reduced block rewards.
Crypto investment products witnessed a further $435 million in net outflows globally last week as incumbent ETF issuers continue to see withdrawals.The outflows are the largest since a record of nearly $1 billion during the third week of March as bitcoin fell from its latest all-time high.
Before the launch of spot cryptocurrency ETFs in Hong Kong, the city’s ETF market accounts for 0.6% of the entire U.S. ETF market.
- 06:20Analyst: How to Identify Key Price Support and Respond to Market Trend ChangesAccording to analyst Murphy on X, the concepts of support and resistance levels are very common in traders' candlestick techniques. These prices are usually derived through volume-price analysis, moving averages, and other technical theories. On-chain data analysis is no exception, where "price support" reflects the consistency of investor behavior, break-even points, market sentiment and supply-demand relationships. Although we have firm confidence in the continuation of the bull market cycle, there is always uncertainty in the market. Once the market trend deviates from expectations, it's necessary to be prepared with a response strategy. Here are some important data points for traders as references: 1. Short-term holder cost price (STH-RPC,$63,400) - If Bitcoin's price stays above this level then the trend may continue upwards. If it falls below this level then it might take longer for recovery or even possibly turn bearish.2. Market Value to Realized Value Ratio (MVRV deviation,$56,400) - Through this indicator we can measure average unrealized profits of investors in order to assess current bubble levels within markets. Historically speaking this has been a strong support level.3. True Market Price (TMMP) and Active Investor Price (AIP,$48,400 and $53 800) - These two indicators provide key levels for determining macro-market bullish or bearish states.The buffer zone between these two prices serves as a strong market support. Through these key data points traders can better understand and predict market trends while formulating corresponding trading strategies.
- 06:12Trader Eugene: Maintain a "light position" before the end of the U.S. election to facilitate bottom fishingTrader Eugene Ng Ah Sio stated on social media, "Maintain a light position until the U.S. presidential election. All markets seem weak, and I want to keep my cash reserves for buying opportunities when they arise."
- 06:07The exchange rate of ETH/BTC has fallen below 0.037, continuing to reach its lowest level since the peak in 2021Market data shows that the ETH/BTC exchange rate has fallen to 0.03684, with a 24-hour drop of 2.59%, continuing to reach its lowest level since the peak of the bull market in 2021.
