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The post Dogecoin (DOGE) Bull Run Over? Data Points to 50% Rally Ahead appeared first on Coinpedia Fintech News

After the U.S. Presidential election results, Dogecoin (DOGE) experienced a wild rally and gained massive attention from traders and investors. However, in the past few days, the meme coin appears weak. This weakness in the DOGE rally has led to questions about whether the DOGE bull run is over and whether the DOGE price will fall, among other concerns.

Expert Bullish View on Dogecoin (DOGE)

While looking at traders’ and investors’ sentiment around the DOGE meme coin, a prominent crypto expert made a post on X (Previously Twitter) and hinted to every crypto enthusiast that the current interest in DOGE is not yet at its peak popularity, as it was when it reached its all-time high.

Source: X (Previously Twitter)

However, with steadily growing interest in DOGE, as seen earlier, the meme coin has much more room to soar in the coming days.

Besides investors’ interest in DOGE, other factors like bullish price action and the current market sentiment further support the meme coin’s upcoming rally.

Dogecoin Technical Analysis and Key Levels 

According to CoinPedia’s technical analysis, DOGE has formed a bullish descending triangle and flag-and-pole price action pattern on the four-hour time frame. However, the price has reached a narrow zone within this pattern and is poised for a breakout.

Source: Trading View

Based on historical momentum, if DOGE breaches the pattern and closes a four-hour candle above the $0.38 level, there is a strong possibility that the meme coin could soar by a minimum of 15% and a maximum of 50%, reaching the $0.44 or $0.58 levels, respectively.

As of now, DOGE is trading above the 200 Exponential Moving Average (EMA) on the daily time frame, indicating an uptrend. Meanwhile, its Relative Strength Index (RSI) suggests a potential upside rally in the coming days, as the price is nearing the oversold territory.

Current Price Momentum

With bullish market sentiment, DOGE is trading near $0.365 and has registered a price decline of 2% in the past 24 hours. During the same period, its trading volume dropped by 18%, indicating lower participation from traders and investors, who are potentially waiting for the breakout of the bullish pattern.

The post Crypto ETFs: Are Solana, Avalanche, and XRP ETF Approvals Imminent in 2025? appeared first on Coinpedia Fintech News

In a recent episode of the Thinking Crypto Podcast, host Tony Edward and guest Matt Hogan, Chief Investment Officer at Bitwise Asset Management, explored the transformative potential of XRP, the growing prominence of Bitcoin and Ethereum ETFs, and the exciting trajectory of the crypto market heading into 2025.

XRP: Resilience Amidst Challenges

Kicking off the discussion, Tony highlighted XRP’s growing appeal, underpinned by its strong community and robust technology. Despite Ripple’s ongoing legal battle with the SEC, XRP’s potential remains largely untapped, poised for greater recognition as the regulatory fog clears.

Adding to XRP ETF optimism, Senior ETF analyst Erich Balchunas of Bloomberg outlines the significance of the huge inflows that Bitcoin ETFs have seen this year. Gold ETFs had to wait six months to see an equivalent capital allocation, according to Balchunas. The majority of market analysts are expecting an XRP ETF coming next.

Hogan also reflected on the unprecedented success of Bitcoin ETFs, projecting that 2025 could see ETF inflows exceed those of 2024. He emphasized how institutional and retail adoption is likely to accelerate as ETFs capture significant portions of the Bitcoin market. The conversation touched on the potential for a U.S. Bitcoin strategic reserve, which could trigger global FOMO among nations and institutions alike.

Looking Ahead: Excitement Across Chains

The podcast highlighted a shifting Overton window in crypto adoption, with more governments and institutions considering Bitcoin and crypto assets as integral parts of their portfolios. The potential for widespread adoption, regulatory support, and new ETF offerings could mark the dawn of a new era in crypto investing.

Tony and Matt expressed optimism about the future of various blockchain ecosystems, including Solana, Avalanche, and XRP. With an increasing demand for index-based crypto products, investors may find opportunities for diversification across a spectrum of innovative protocols.

Moreover, if Trump successfully establishes a crypto-friendly regulatory framework as promised, it could lead to the resolution of many crypto cases, potentially clearing the path for altcoin ETF approvals. 

The post Top Public Bitcoin Miners by BTC Holdings: HODL15Capital appeared first on Coinpedia Fintech News

HODL15Capital’s latest data reveals that Marathon Digital Holdings (MARA) dominates public mining companies with a staggering 27,562 BTC in reserves. Riot Platforms secures the second spot with 10,928 BTC, followed by Hut 8 at 9,110 BTC. CleanSpark, HIVE Digital, Cipher Mining, and Bitfarms round off the list with 8,701 BTC, 2,624 BTC, 1,428 BTC, and 1,188 BTC, respectively. 

According to HODL15Capital, as of November 15, the BTC holdings of major listed Bitcoin mining companies are ranked as follows: MARA Holdings holds 27,562 BTC; Riot Platforms holds 10,928 BTC; Hut 8 holds 9,110 BTC; CleanSpark holds 8,701 BTC; HIVE Digital holds 2,624 BTC; Cipher… pic.twitter.com/6z1R5xOFIK

— Wu Blockchain (@WuBlockchain) November 17, 2024

Mining Expansion Meets Diversification

Bitcoin miners face tough challenges, balancing efficiency and new ventures. Marathon Digital, holding the most BTC, is branching into AI and high-performance computing. As per earlier reports, Mara Holdings added 8,280 BTC in Q3, boosting its total to 26,747 BTC. This included mining 2,070 BTC and buying 6,210 BTC at an average of $59,500, funded by a $300 million convertible senior notes offering. While this shift could boost future growth, it raises concerns about how it might impact its core value tied to Bitcoin mining.

Riot Platforms, on the other hand, remains focused on enhancing operational efficiency, sticking closer to its mining roots. Meanwhile, Hut 8 and HIVE Digital have showcased strong performance metrics, with Hut 8 mining 234 BTC and reporting a 101% income surge last quarter. HIVE Digital has been equally robust, mining 340 BTC in the same period.

Miner Trouble?

For those new to the concept, mining difficulty measures how hard it is to find new blocks on the Bitcoin blockchain. It adjusts roughly every two weeks (after 2,016 blocks) to ensure blocks are discovered at around 10-minute intervals. This year, out of 23 adjustments, nearly 60% were increased. That alone shows how competitive the field is becoming. Bitcoin’s mining difficulty soared to a record high of $100 trillion, making operations more demanding and energy-intensive. This surge compels miners to optimize processes to maintain profitability in an ever-competitive market.

Adding complexity, Bitcoin’s market dynamics reflect cyclical behavior. According to the MVRV indicator, the asset’s current value surpasses its 365-day and four-year averages, suggesting potential market volatility ahead. 

BTC Current Scenario

In the meanwhile, Bitcoin’s recent price action suggests indecision, with a three-wave move that isn’t bullish or bearish. We might be seeing a corrective wave in the short term, but the market is still in a range. If Bitcoin breaks above recent highs, it could start another rally towards $95,000 or even $97,000. However, if it falls below key support levels, a deeper correction could unfold.

The post MicroStrategy Bitcoin Holdings Raise Liquidity Concerns, Says BitMEX appeared first on Coinpedia Fintech News

MicroStrategy, the largest institutional Bitcoin holder, has been under the spotlight as BitMEX Research raises questions about its financial structure. The company currently holds $17 billion in Bitcoin, backed by $4.25 billion in debt and a staggering $43 billion market valuation for its stock. 

Is MicroStrategy’s rising Bitcoin holding a red flag? Let’s dive into the insight of this report. 

BitMEX Research: MicroStrategy has $4.25 billion in debt, its stock is worth $43 billion, and its bitcoin holdings are worth $17 billion. While the stock is trading at a premium, there is the “infinite money glitch” and no reason to sell Bitcoin. But this glitch will not last… pic.twitter.com/XnOqQ29Dus

— Wu Blockchain (@WuBlockchain) November 17, 2024

Key Financial Metrics: A Closer Look

MicroStrategy, with over 250,000 bitcoins, is trading at a significant premium to its net asset value (NAV), similar to the Grayscale Bitcoin Trust (GBTC) before it became an ETF. The company’s ability to issue more shares at this premium to buy more bitcoins, pushing up its book value per share, creates a puzzling cycle of seemingly unlimited funding. Since starting its Bitcoin strategy, MicroStrategy has raised $4.4 billion through five equity issuances, but the reasoning behind this high premium remains unclear. BitMEX Research points out that MicroStrategy’s stock trades at a premium, driven by what they term an “infinite money glitch” concept.

This notion suggests that the company benefits from continually leveraging its Bitcoin holdings to raise funds, reinforcing its market position. However, BitMEX warns that this premium valuation may not last indefinitely, potentially exposing the company to market corrections if the anomaly dissipates.

The report comes amidst a broader discussion about institutional players leveraging Bitcoin as a balance sheet asset and raises important questions about sustainability in such strategies. Whether MicroStrategy can maintain its advantage or face challenges in the long run remains to be seen.

Doubts on Liquidity Crisis

MicroStrategy has $4.25 billion in debt and $17 billion in Bitcoin holdings, while its stock is valued at $43 billion. Although Bitcoin’s price drop could force the company to sell its holdings, it’s unlikely to happen soon, as any potential liquidation is not expected until 2027-2031. Instead, MicroStrategy may choose to sell Bitcoin proactively if its stock premium fades and bonds near maturity. As long as its stock remains highly valued, the company can keep raising funds without needing to sell Bitcoin. 

However, if the stock price falls or the market for MSTR bonds weakens, debt risk could increase, leading to a higher chance of forced selling in the future. 

The post Ripple IPO on the Horizon? SBI CEO Urges Action as XRP Lawsuit Heats Up appeared first on Coinpedia Fintech News

XRP surged above $1.20 over the weekend, marking an 87% weekly gain and hitting a three-year high. The rally gained momentum after 18 U.S. states sued the SEC and its chairman, Gary Gensler, accusing the agency of overreaching in its regulation of the crypto industry. This significant development reignited discussions around Ripple’s potential Initial Public Offering (IPO).

With Trump’s win, many speculations are doing the rounds like the Ripple vs SEC case dismissal, IPO, and Stablecoin launch. Since the regulatory matters are at ease, there are chances that Ripple may come with an IPO soon to maximize the current bull run.  

SBI CEO Pushes for Ripple’s IPO

Yoshitaka Kitao, CEO of SBI Holdings, has urged Ripple to start preparing for an IPO “as soon as possible” once its legal battle with the SEC concludes. Ripple has been entangled in a prolonged lawsuit with the SEC, which recently filed an appeal in October. However, many analysts speculate that the SEC’s internal shake-ups could lead to the appeal being dropped, clearing Ripple’s path for a public offering.

Brad Garlinghouse’s Take on IPO Plans

Ripple CEO Brad Garlinghouse has reiterated that while an IPO is not currently a “high priority,” he hasn’t ruled it out entirely. In 2022, he mentioned that Ripple would consider going public after resolving the SEC lawsuit. Though Ripple’s financial stability reduces the immediate need for an IPO, Garlinghouse had earlier envisioned the company going public within a year, a timeline disrupted by ongoing legal challenges.

Ripple Co-Founder Transfers XRP

Amid XRP’s price rally, Ripple co-founder Arthur Britto moved 80 million XRP tokens, with 10 million heading to Binance. This movement has sparked speculation within the community about Ripple’s potential plans, including whether the company is inching closer to an IPO.

Ripple’s Future at a Crossroads

While the IPO discussion gains traction, Ripple remains in a “wait-and-see” mode. The company’s past plans for an IPO were derailed by the SEC lawsuit, but recent legal and market developments may bring the idea back into focus. With regulatory hurdles potentially easing, Ripple’s IPO could mark a historic shift in its trajectory, offering investors a new avenue to engage with the blockchain leader.

In the meanwhile, XRP surged by 25% today, nearing the local resistance level of $1.0739. If buyers maintain momentum, a breakout could push the price to $1.10 and potentially to the $1.15-$1.20 range next week. However, if the weekly candle closes far from this resistance, a correction to the $0.90-$0.95 zone may occur. At press time, XRP trades at $1.0522.

The post Why Corporate Giants Are Eyeing Bitcoin for Their Investments appeared first on Coinpedia Fintech News

The financial landscape is undergoing a profound transformation as cryptocurrencies, which were once viewed with skepticism, are increasingly embraced by institutions. This paradigm shift in investment strategies and financial services reflects a broader recognition of digital assets to reshape the global economy. 

The Growing Prominence Of Bitcoin ETFs

On January 10th, there was a massive change in the institutional attitudes and legal categorization of Bitcoin when the Securities and Exchange Commission (SEC) approved spot bitcoin ETFs. The bitcoin ETFs were quickly sought out by institutional and retail investors alike earlier this year. There are now 36 different ETFs traded on the U.S. markets, and total assets are now over $61 billion. Only gold ETFs have a larger total asset size than bitcoin ETFs.

The prominence of bitcoin ETFs was further enhanced on September 20, when the SEC approved the listing and trading of options for asset manager BlackRock’s spot bitcoin ETF on the Nasdaq. BlackRock’s spot bitcoin ETF has become one of the fastest-growing ETFs of all time, and now has almost $23 billion in assets.

The BlackRock chief executive, Larry Fink, who was previously a bitcoin critic, now believes that he had been ‘wrong’ about bitcoin and now believes bitcoin is “digital gold” and a ‘legitimate’ financial instrument.

Bitcoin’s Post-Election Surge

Market analysts expect Bitcoin’s price to breach the $100,000 mark before the end of November as it surpassed a $90,000 record high on Nov. 13, just over a week after Trump won the US presidential election.

Notably, the total market value of cryptocurrency assets is now about $3.1 trillion, driven by the expectations of pro-crypto policies under the new administration. Trump’s pro-Bitcoin stance has further encouraged institutions to invest, anticipating regulatory changes that might benefit them. Trump noted that nearly 30-40 percent of Americans already hold crypto, suggesting that a favorable government stance could stimulate even more demand.

The recent green light for the US Bitcoin ETF options trading by the Commodities and Futures Trading Commission (CFTC) has further fueled market interest. This marks a major milestone for the crypto, especially as institutional interest is growing towards BTC.

Notably, the CFTC approval is also likely to provide more exposure for the investment instrument for the Wall Street players, which could boost the Bitcoin price in the coming days significantly.

Why is BTC good for Wall Street Biggies?

In a notable shift, more Wall Street billionaires are turning to Bitcoin (BTC) as a hedge against inflation, moving away from traditional government bonds. According to Forbes, prominent investors, including BlackRock CEO Larry Fink, have expressed growing confidence in Bitcoin’s potential to safeguard their portfolios amidst concerns over U.S. monetary policies and escalating national debt.

Over the past decade, Bitcoin has witnessed an enormous surge, increasing by 22,208%, while the U.S. dollar has depreciated by 33%. These figures accentuate the stark contrast between Bitcoin’s performance and the decline in fiat currency value, fortifying its appeal as a long-term investment vehicle.

Bitcoin’s capped supply of 21 million coins ensures scarcity, making it inherently resistant to inflation. This characteristic is particularly appealing to investors seeking assets that can retain or appreciate in value over time, unlike fiat currencies that can be printed in unlimited quantities.

Microstrategy’s Bitcoin Playbook

Microstrategy, led by Michael Saylor, holds more Bitcoin than any other public company. Microstrategy has acquired 279,420 BTC, which represents roughly 1.33% of the total supply. Microstrategy has employed a unique strategy in which they raise debt capital and use it to purchase bitcoin. The theory behind this strategy is that the company can repay the fiat debt by selling less bitcoin in the future. Other companies are beginning to imitate this strategy.

MicroStrategy’s next step is the “21/21 Plan,” where it plans to raise $42 billion, then use it to buy more Bitcoin. MicroStrategy already has 252,200 Bitcoins on its balance sheet, worth more than $21 billion at today’s prices. So the plan is to double the company’s current Bitcoin holdings. Already, it has the largest Bitcoin holdings of any company in the world and currently holds more Bitcoin than either the U.S. or the Chinese governments.

Are Firm’s Following Suit?

Japanese firm Metaplanet has been following the footsteps of MicroStrategy for its Bitcoin acquisition strategy. This has resulted in a massive gain in its BTC yield which has led to its valuation nearly double since the beginning of the year. After adding Bitcoin to their treasury back in September 2020, the MSTR stock price has rallied by a staggering 2200%.

It started acquiring Bitcoin as a treasury asset in May to address the declining yen and challenges from low interest rates and high national debt. Metaplanet quickly increased its Bitcoin holdings to 1,018.17 BTC by late October, with total investments close to $64 million. 

Recently this week, it reported a $28 million increase in the valuation of its Bitcoin holdings due to its ongoing investments in the cryptocurrency. Metaplanet’s Bitcoin reserves now exceed 1,000 BTC. Metaplanet has now become one of Asia’s top corporate Bitcoin holders, exceeding a $64 million investment milestone.

Semler Scientific is also intensifying its Bitcoin buying plans as it increasingly transforms from a medical device company into a Bitcoin Treasury Company.

Robinhood Markets, a financial services company offering stock, ETF, and cryptocurrency trading also has been on a bitcoin-accumulation strategy. According to Arkham Intelligence, Robinhood controls 136,755 BTC.

Marathon Digital Holdings, the Bitcoin Mining mega-company, owns 27,562 BTC. Following many years of accumulation, the firm sold 766 BTC in March of 2023. The third-largest bitcoin holding by a public company is Tesla, Inc. which holds 11,509 BTC.

Strategic Bitcoin Reserve For US

Trump has already promised to improve the regulatory environment for crypto and to put more government resources into supporting Bitcoin.

And, just like MicroStrategy, the U.S. government could go on a Bitcoin buying spree of its own next year. As per its latest vision for a strategic Bitcoin reserve, the U.S. could buy as many as 1 million Bitcoins in the near future. That would likely force other nations to follow suit to keep up the pace with the U.S.

Can Corporate Giants Drive The Next Bull Run?

Wall Street billionaires’ pivot to Bitcoin as an inflation hedge marks a significant shift in investment strategies, reflecting a growing confidence in the cryptocurrency’s potential. With its impressive growth metrics, finite supply, and decentralized nature, Bitcoin offers a captivating alternative to traditional assets like government bonds.

Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America, and Morgan Stanley in the third quarter continued to modestly accumulate (or trade) bitcoin (BTC) via spot bitcoin ETFs. 

Goldman Sachs reported acquiring about $418 million in various bitcoin ETFs through its quarterly 13-F filing with the Securities and Exchange Commission. This includes a notable $238 million stake in the iShares Bitcoin Trust, representing nearly 7 million shares as of Jun 30. Additionally, Goldman took substantial positions in the Fidelity Wise Origin Bitcoin ETF FBTC, Invesco Galaxy Bitcoin ETF BTCO, and smaller amounts in other newly launched Bitcoin ETFs.

Morgan Stanley was the first among the big players on Wall Street to give the green light to its 15,000 financial advisors to start pitching clients, who have a net worth north of $1.5 million, bitcoin ETFs, specifically those issued by BlackRock and Fidelity. 

JP Morgan reported minimal crypto exposure of around $42,000 worth of shares in Grayscale’s Bitcoin fund and another $18,000 worth of the ProShares Bitcoin Strategy ETF. HSBC has nearly $3.6 million worth of spot bitcoin holdings, all from the fund issued by Ark 21Shares, UBS has around $300,000 worth of spot bitcoin ETF holdings, and Bank of America has collective holdings of around $5.3 million, mostly from BlackRock and Fidelity.

“The crypto markets are strong because we have the sentiment shift,” Galaxy Digital chief Mike Novogratz told CNBC in May. “Crypto is now an asset class. It will be next year, it will be forever. And it wasn’t that way two years ago. There was risk around the asset class, and it’s been de-risked.”

Roadmap For Companies for BTC Adoption

As high-net-worth individuals and ultra-high-net-worth individuals show increasing interest in cryptocurrencies, institutions have adapted by incorporating digital assets into their portfolios and product offerings. This shift is essential for driving further institutional adoption.

The rise of secure custodial services, including platforms like Coinbase Custody and Bitco, has provided robust solutions. These services, equipped with cutting-edge security measures, have played a crucial role in making the crypto market more accessible to institutions.

Institutional involvement signifies that cryptocurrencies are no longer just speculative assets; but are legitimate investment opportunities. The introduction of products designed for easier investment, such as ETFs and trusts, allows retail investors to gain exposure to digital assets through familiar and regulated channels.

Many analysts and enthusiasts anticipate 2025 to begin another explosive bull run, potentially rivaling or exceeding the 2021 rally. With Bitcoin (BTC) leading the charge, the potential involvement of giant institutions could ultimately drive the price of Bitcoin, to unprecedented levels.

Several crypto executives are privately lobbying Trump’s campaign on behalf of Cantor Fitzgerald CEO Howard Lutnick, a new report says.

The post Top Altcoins Heading for ATH Breakouts in the Coming Week appeared first on Coinpedia Fintech News

With Bitcoin crossing above $91,000, the rising risk appetite of crypto investors teases a bull run in altcoins. Amid the increasing demand, many have hit a new 52-week high with the reversal rally gaining momentum. 

Will the increasing bullish momentum in altcoins result in a new all-time high for a few altcoins? Are you wondering the same? Worry not. We bring a list of the top three altcoins of high potential to reach new all-time high levels in the coming week. 

So, let’s take a closer look at the price action analysis of these potential altcoins. 

Top Altcoins With a New All-time High Potential:

Jupiter (JUP)

With a market cap of $1.5 billion, the Jupiter token is currently trading at $1.13. Over the past 24 hours, the altcoin has increased by 5.25% and is currently at a discount of 45% from its all-time high level of $2.04. 

Tradingview

Over the last 30 days, it has increased by 35%, revealing a bullish trend in action. In the daily chart, the Jupiter price action shows a triangle breakout rally gaining momentum. This has led to a higher high formation in the daily price trend and a reclamation of the 50% Fibonacci level at the $1.00 psychological mark. 

The bullish surge has resulted in a positive crossover between the 50-day and 200-day SMA line. This marks a golden crossover and increases the uptrend continuation chances.

Currently, with a bullish engulfing candle, the JUP price action shows a poor status reversal from the $1.00 mark. Further, the bull run is struggling to reduce the 61.8% Fibonacci level at $1.20. 

However, as a rising DEX over the Solana network, Jupiter shows massive momentum. The Fibonacci levels being the upside target at $2.26 and $3.16 at $1.272 and $1.618 levels. 

Will the Jupiter (JUP) price cross $5? Find out now in the latest JUP price prediction by Coinpedia.

Pendle (PENDLE)

In the market cap of $867 million, the PENDLE token PENDLE token is trading at $5.30. Over the last 30 days, it has increased by 26.80% and is trading at a 30% discount from its all-time high level of $7.5171.

Tradingview

In the daily chart, the PENDLE price action reveals Triangle Breakout Rally ends in closer to a new all-time high level. Despite facing resistance from a short-term overhead resistance trend line, the bullish trend forms a rising wedge pattern. 

With a 2.28% jump last night, the bullish trend is now challenging the 78.60% Fibonacci level at $5.4498. A bullish breakout of the overhead resistance trend line will likely result in a high-momentum rally crossing above the current all-time high level. 

Supporting the bull run chances, the golden crossover in the SMA lines marks a dynamic shift in the underlying sentiments. Based on the Fibonacci levels, the upside target for a bullish continuation above the current high level is $9.57 and $14.30.

Jito Finance (JTO)

Currently, it is trading at a discount of 47.69% from its all-time high level of $5.28. Since the all-time high formation, the bullish failure to end the lower-high trend formation led to a resistance trendline. 

Tradingview

The recent reversal from the $1.86 mark has resulted in a breakout rally, reaching the 50% Fibonacci level at $3.15. However, the DeFi token now retests the 38.20% Fibonacci level and the 200-day SMA line with a quick reversal. 

As the 50-day and 100-day SMA line give a positive crossover, the chances of a post-retest reversal for JTO token have significantly increased. Considering the trend-based Fibonacci levels, a new all-time high in JTO finance will find the price target at $7.00 and $10.20. These price targets are derived from the 1.272 and 1.618 Fibonacci levels.

FAQs

What is Pendle’s key resistance level?

The 78.6% Fibonacci level at $5.4498 is a critical resistance, with a breakout potentially leading to new highs.

What are the price targets for JTO?

Fibonacci targets suggest JTO could reach $7.00 (1.272 level) and $10.20 (1.618 level) after a post-retest rally.

What are the key technical levels for Jupiter (JUP)?

The $1.00 psychological mark (50% Fibonacci) acts as support, while resistance lies at $1.20 (61.8% Fibonacci level).