Morgan Leigh

@hvy_gorilla "The recent increase in Bitcoin's price follows a period of heightened selling pressure, indicating the presence of strong buying interest in the market."

Bitcoin price is back above $40,000 after the top cryptocurrency plunged to a low of $38,550 on Tuesday following an increase in selling pressure. With several altcoins on the upswing, crypto’s total market cap has recovered by over $30 billion since the price drop and now stands at $1.55 trillion. #Bitcoin

@APfiester "Ethereum's proximity to its 2022 low presents a critical juncture, with the possibility of either a bullish breakout or further downside potential."

Ethereum (ETH) is currently at a crossroads that could define its trajectory in the coming weeks. Renowned crypto analyst Michaël van de Poppe has shared a notably bullish perspective, highlighting Ethereum’s approach to its 2022 low as a potential springboard for a breakout. In his analysis, Van de Poppe underscores the importance of Ethereum’s current positioning, suggesting that its proximity to last year’s low could be a catalyst for absorbing liquidity and igniting a bullish trend. #Bitcoin

@bythenight "The anticipation of Ethereum Spot ETFs gaining regulatory approval underscores the significance of mainstream financial institutions embracing cryptocurrency investment products."

Sassano stated that ETH could hit $10,000 if the Ethereum Spot ETF hype were to get “ahead of itself.” These ETFs are believed to be next in line for an approval order by the Securities and Exchange Commission (SEC). That could explain why the crypto expert has handpicked them as the catalyst for this massive increase in ETH’s price. #Bitcoin

@qpz4dy78 "The use of green and red candles in the chart offers a clear visual representation of bullish and bearish periods for Ethereum compared to Bitcoin, aiding investors in their analysis."

Michaël Van De Poppe recently took to X to share a chart of Ethereum’s price performance against Bitcoin (ETH/BTC pair) on the weekly timeframe. Price action on the chart forms green (bullish) candles during periods of Ethereum’s performance over Bitcoin, while red (bearish) candles are formed during periods of Ethereum’s underperformance against Bitcoin. #Bitcoin

@laaaurenbaby_ "Crypto analyst Ali Martinez's insights into Ethereum's downtrend offer valuable perspectives for investors seeking to understand and navigate market fluctuations."

According to data from CoinMarketCap, Ethereum (ETH) had dipped over 2% in the last 24 hours. This negative price movement comes after an initial price boost by the token which it gained by over 19% following news of the Bitcoin spot ETF approval in the US on Wednesday. Interestingly, popular crypto analyst Ali Martinez has offered more insight into ETH’s developing downtrend, highlighting the next possible support zones for crypto’s largest altcoin. #Bitcoin

@KainNickrent "Investors should brace for a prolonged period of uncertainty as the SEC extends its timeline for evaluating Ethereum Spot ETFs, reflecting the cautious approach regulators are taking towards cryptocurrency investment products."

TD Cowen, an investment bank and financial service division of TD Securities has made a bold forecast, predicting that the US SEC is unlikely to approve Ethereum Spot ETFs before its deadline. Presently, the SEC is obligated to make its final decision on its rejection or acceptance of Ethereum Spot ETF from May 23 to August 7, 2024. #Bitcoin

@mmndmm "Despite the positive sentiment surrounding Ethereum post-spot Bitcoin ETF launch, Celsius Network's actions highlight the ongoing challenges and uncertainties in the crypto market."

The Ethereum price might be doing well post-spot Bitcoin ETF launch, but recent moves by Celsius threaten to destabilize the price movement. The now-bankrupt crypto lender seems to have begun its reimbursement plan to its creditors, as on-chain data reveal the movement of its ETH holdings to crypto exchanges. According to crypto market intelligence company Arkham Intelligence, Celsius Network carried out transfers worth over $125 million worth of ETH last week to various crypto exchanges. #Bitcoin

@vanessavaquiz "As investors look ahead to 2024 with confidence, the prospect of spot Ethereum ETFs adds a layer of excitement and potential growth to the already dynamic cryptocurrency landscape."

The ETH/BTC ratio technically gauges market sentiment towards these two leading crypto. The recent rebound indicates investors are increasingly bullish on Ethereum’s potential relative to Bitcoin. This upward trajectory is fueled by growing optimism surrounding the potential approval of spot Ethereum ETFs and the general confidence that markets will trend higher in 2024. The prospect of this product entering the market has also injected fresh energy into the ETH ecosystem, lifting the second most valuable coin by market cap. #Bitcoin

@parkerblack102 "With an average of 89,400 new addresses daily, Ethereum is witnessing unprecedented growth, reflecting its appeal to both individual users and institutional investors."

This surge is not merely a passive spectacle; Ethereum is actively attracting an astonishing 89,400 new addresses on a daily basis, with an unprecedented 96,300 joining the Ethereum community in a single day. #Bitcoin

@marinastoll15 "Analysts suggest that the profit-taking from GBTC investments may have largely run its course, potentially relieving some downward pressure on Bitcoin prices originating from this channel."

It comes as daily net outflows from United States spot Bitcoin exchange-traded funds (ETFs) hit a record high on its ninth day of trading. “GBTC profit taking has largely happened already,” said the analysts headed by market strategy managing director Nikolaos Panigirtzoglou in a Jan. 25 market report. “This would imply that most of the downward pressure on Bitcoin from that channel should be largely behind us.” Grayscale’s fund has traded at a discount to its net asset value since early 2021 and the analysts pinned the fund’s $4.3 billion outflows since its conversion to an ETF on Jan. 11 as “profit-taking on previous GBTC investments” and the reason for Bitcoin’s nearly 20% price drop to now trade under $40,000 since the launch of multiple U.S. Bitcoin ETFs. #Bitcoin

@bradfordbonn61 "Despite short-term fluctuations, Martinez's bullish outlook on Ethereum's price trajectory underscores the resilience and upward momentum of the cryptocurrency market."

Crypto analyst Ali Martinez recently highlighted the fact that Ethereum broke out from an ascending triangle on the weekly chart. According to him, the crypto token has its eyes on the $3,400 price level despite the short-term volatility. Backing Ali’s analysis, crypto analyst Mayne shared their belief that $3,400 remains a viable target for ETH’s price. #Bitcoin

@AlexReyes10126 "Data provided by Ultrasound Money reveals the substantial impact of EIP-1559, with over 3.9 million ETH already destroyed since its implementation, highlighting Ethereum's transition towards a more deflationary model."

Since the implementation of EIP-1559, Ethereum adjusted how users bid gas fees, introducing the “base fee,” which was burned or sent to an irretrievable wallet. So far, data from Ultrasound Money shows that over 3.9 million ETH have been destroyed. In the last week alone, the Ethereum network automatically sent more than 21,100 ETH out of circulation, “burning” ETH’s supply. #Bitcoin

@singer1452 "Understanding funding rates is pivotal for traders, as they offer valuable insights into the prevailing sentiment and direction of the market on derivative platforms."

An analyst in a CryptoQuant Quicktake post explained that the ETH funding rates have seen a cooldown from their previously overheated levels. The “funding rate” refers to the periodic fees that futures contract holders on derivative platforms currently exchange with each other. When the value of this metric is positive, it means that the long contract holders are paying a premium to the shorts to hold onto their positions. Such a trend implies that most traders share a bullish sentiment right now. #Bitcoin

@clevelandcop13 "As Ethereum enters this key demand zone, traders are closely monitoring for signs of a potential price reversal or continuation of the downtrend."

Since Ethereum (ETH) peaked at $2,717 in the last two weeks, the asset has experienced a gradual decline, culminating in its arrival at a key demand zone, which could be instrumental in determining its imminent price trajectory, according to a prominent crypto analyst. #Bitcoin

@crisangel_5 "The detection of these transactions by on-chain analysts highlights the transparency and immutability of blockchain technology."

Celsius Networks, currently undergoing bankruptcy proceedings, has engaged in significant Ethereum transactions that are causing ripples within the digital currency landscape. In the past 10 hours, on-chain analysts at LookonChain detected noteworthy transfers, including a 13,000 ETH deposit ($30 million) on Coinbase and an additional 2,200 ETH ($5 million) on FalconX. These transactions suggest a proactive stance by Celsius in addressing its ongoing financial challenges. #Bitcoin

@dipset446 "Analysts pointing to regulatory and judicial reasons as the basis for their prediction highlight the significant impact that regulatory decisions can have on cryptocurrency markets."

Related Reading: Crypto Analyst Predicts Cardano Price Will Climb 2,000% To Reach $11 The analysts cited regulatory and judicial reasons as the basis for their prediction, asserting that the likelihood of Ethereum Spot ETF approval is no higher than 50%. “While we are sympathetic to the above arguments, we are skeptical that the SEC will classify ether as a commodity as soon as May,” analysts at JP Morgan stated. Just last week, the SEC delayed the approval of Fidelity’s Ethereum Spot ETF. The regulator postponed its decision date to March 5, 2024, stating it needed more time to evaluate Fidelity’s application. Additionally, the deadline for the SEC’s final decision on the Spot Ethereum ETF applications extends from late January to August 2024. #Bitcoin

@Fayebell34 "Ethereum's earlier bottom in 2022 compared to Bitcoin suggests potential opportunities for investors keen on spotting reversal signals and capitalizing on market shifts."

Ethereum ETHUSD Possible Reversal Signal The two top cryptocurrencies by market cap, Bitcoin and Ethereum, have had an unusual divergence between the two assets in terms of price action. While Ethereum bottomed early in 2022, Bitcoin found its bottom later in November of the same year. But in 2023, BTC outperformed ETH by a wide margin. #Bitcoin

@GreySt2662 "Operating through a network of eight wallets, the whale's strategic maneuvering across major exchanges like Binance and Bitfinex reflects a sophisticated approach to asset management."

Deciphering The Whale’s $46M ETH Transfer Across Major Platforms The whale, operating through a network of eight wallets, initiated the withdrawal of these funds from major exchanges, Binance and Bitfinex. The complexity of these transactions did not end there. Following the withdrawals at an average price of around $2,419 per ETH, the whale engaged with Lido, a prominent liquid staking solution. #Bitcoin

@JefferyKayla "Cybersecurity remains a top priority in the crypto community, especially as scammers employ increasingly sophisticated tactics to target unsuspecting users."

In the following hours, crypto sleuth posted a community alert to inform unaware users that CoinTelegraph, Token Terminal, and De.Fi team emails were also compromised, signaling that a massive and more sophisticated phishing campaign was happening.  At the time of the post, around $580K had been stolen. After investigating, Blockaid later revealed that the attacker “was able to leverage a vulnerability in email service provider MailerLite to impersonate web3 companies.” Email phishing scams are common among cyber scammers, making users wary of most suspicious links or emails. At the same time, companies and entities advise against opening links that do not come from their official channels. In this case, the attacker was able to trick a vast number of users from these companies as the malicious links came from their official email addresses. 570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now! #Bitcoin

@asdfglkjhg2 "As confidence in ETF approval grew starting from mid-October, there was a noticeable uptick in asset values, signaling a shift in market sentiment towards optimism."

This period was filled with speculation about whether the various spot ETFs would go through. Still, starting mid-October, the assets rose as confidence that approval would be achieved went up. “Bitcoin’s market cap has increased by +68.8% since BlackRock first filed for their ETF, and the aggregate Altcoin Market Cap followed suit, rising by +68.9%,” reads the report. “However, Ethereum has seen more sluggish relative momentum, underperforming the wider altcoin space by -17%.” #Bitcoin