June 7, 2024

News

Three UK Citizens Charged in $3M “Evolved Apes” Ethereum NFT Scam

by Tahelyani Renuka

07 Jun, 2024

Defendants accused of a "rug pull," promoting a fake game to sell NFTs, then vanishing with ...

10x Research predicts Bitcoin could surge to $83,000 soon, citing a bullish head-and-shoulders pattern. Global central bank rate cuts bolster BTC's outlook, with U.S. economic slowdown further supporting the bullish trend. Ether price decline could hinder Bitcoin's rise, making Ethereum's $3,725 support level crucial for the rally. Renowned digital asset research firm 10x Research has recently shared a detailed analysis suggesting that Bitcoin potentially soaring to an unprecedented $83,000. In a recent X post, 10x Research highlighted the formation of a head-and-shoulders pattern, signaling a bullish trend for the leading cryptocurrency. Source: 10x Research According to a recent report, Bitcoin could break its resistance line within the next few days, with an ideal timeframe being today, Friday, June 7, or Wednesday, June 12. 10x Research remains decidedly bullish on Bitcoin’s trajectory. This optimism is reinforced by the recent initiation of a global central bank easing cycle. Over the past week, interest rates have been cut in Canada, Denmark, and Europe, marking a significant shift in monetary policy. As the United States grapples with slowing economic growth, weakening employment figures, and declining consumer spending, inflation is anticipated to decelerate, further boosting the outlook for Bitcoin. Historically, the Federal Reserve has only reduced interest rates once during the May-November period ahead of U.S. Presidential elections over the past 30 years. However, 10x Research points out that the market's perception of potential rate cuts often plays a more crucial role in driving risk assets than the actual cuts themselves. This nuanced understanding bolsters their bullish stance on Bitcoin and other risk assets, anticipating new all-time highs in the near future. Related: https://cryptotale.org/stacks-stx-surges-past-key-resistance-analyst-foresees-rally-to-3-8/ Despite the positive outlook, the platform acknowledges potential risks. A sharp decline in Ether prices is a significant factor that could derail Bitcoin’s ascent. Earlier this week, the firm highlighted the critical importance of Ethereum's (ETH) $3,725 support level. A breach below this threshold could exert downward pressure on Bitcoin, stalling its anticipated rally. 10x Research emphasizes that traders and market analysts must consider all possible scenarios and remain proactive. This comprehensive approach is essential for navigating the volatile landscape of digital assets. The firm’s insights provide a hopeful yet cautious perspective, encouraging investors to stay informed and prepared for potential market shifts. As Bitcoin hovers near its resistance level, the coming days would be pivotal in determining its short-term trajectory. Investors and analysts would be closely watching for any signs of movement, with the potential for a historic rally adding to the cryptocurrency market's excitement and speculation.

Market News

Bitcoin (BTC) Surge Imminent? Analyst Predicts $83,000 Rally

by Arslan Tabish

07 Jun, 2024

10x Research predicts Bitcoin could surge to $83,000 soon, citing a bullish head-and-shoulders pattern. Global central ...

News

Base L2 Network Enters Top Three in TVL Rankings, Flips OP

by Tahelyani Renuka

07 Jun, 2024

Base's TVL reaches $1.7B, overtaking OP Mainnet and becoming the third largest Layer 2 by TVL. ...

Market News

Bitcoin (BTC) Hits $71K, GME Price Soars Amid Mixed Movements in Top Assets

by Zinaida

07 Jun, 2024

Analytics firm CryptoRank.io reports that BTC trades around $71K, with top cryptos seeing different price actions. ...

Market News

Shiba Inu Market Cap at $14.81B: Will SHIB Break Past $0.0000256?

by Vladimir

07 Jun, 2024

Shiba Inu faces strong resistance at $0.0000256, needing momentum to break through and target higher levels. ...

Market News

Litecoin Surges: Active Addresses Up 75%, Outpaces Ethereum in Transactions

by Arslan Tabish

07 Jun, 2024

IntoTheBlock reports a 75% surge in Litecoin active addresses, outpacing Ethereum by 100,000, signaling growing interest. ...

Market News

Zilliqa (ZIL) Bullish Wave Expected After a Falling Wedge Breakout

by Chris Murithi

07 Jun, 2024

Zilliqa (ZIL) shows bullish potential after breaking out of a falling wedge pattern on strong trading ...

Market News

Analysts Predict Major Altcoin Surge Following Current Accumulation

by Gabriele

07 Jun, 2024

Analysts like Mikybull Crypto and Jelle note altcoins are in a key accumulation phase. The altcoin ...

Market News

XRP Gears Up for a Legendary 41% Surge: Bullish Chart Signals Historic Breakout

by Glory Kathambi

07 Jun, 2024

XRP's chart signals a bullish breakout, potentially echoing the 2017 surge, with a 41% pump anticipated. ...

Market News

Analyst Says Ethereum Holds 200MA/EMA, Needs $0.0605 Break for Bitcoin Strength

by Arslan Tabish

07 Jun, 2024

Daan Crypto highlights Ethereum's resilience above the Daily 200MA/EMA, sparking market discussions. Ethereum must rise above ...

Market News

SEI Set for a Potential 174.16% Upside Breakout: Key Levels to Watch

by Glory Kathambi

07 Jun, 2024

Sei's breakout target is $0.9088, signaling a potential 174.16% increase from current levels. Key support at ...

Market News

Injective (INJ) Soars Following Confirmed Falling Wedge Breakout

by Zinaida

07 Jun, 2024

Captain Faibik confirmed a bullish breakout for Injective, predicting new all-time highs. INJ's current price of ...

Day: June 7, 2024

Three UK Citizens Charged in $3M “Evolved Apes” Ethereum NFT Scam

Bitcoin (BTC) Surge Imminent? Analyst Predicts $83,000 Rally

Base L2 Network Enters Top Three in TVL Rankings, Flips OP

Bitcoin (BTC) Hits $71K, GME Price Soars Amid Mixed Movements in Top Assets

Shiba Inu Market Cap at $14.81B: Will SHIB Break Past $0.0000256?

Litecoin Surges: Active Addresses Up 75%, Outpaces Ethereum in Transactions

Zilliqa (ZIL) Bullish Wave Expected After a Falling Wedge Breakout

Analysts Predict Major Altcoin Surge Following Current Accumulation

XRP Gears Up for a Legendary 41% Surge: Bullish Chart Signals Historic Breakout

Analyst Says Ethereum Holds 200MA/EMA, Needs $0.0605 Break for Bitcoin Strength

SEI Set for a Potential 174.16% Upside Breakout: Key Levels to Watch

Injective (INJ) Soars Following Confirmed Falling Wedge Breakout

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