Tag: volatility

In a recent exclusive interview, renowned investor Mark Yusko made a bold prediction regarding the future of Bitcoin, foreseeing a surge in its price to six figures. Yusko, the CEO and Chief Investment Officer of Morgan Creek Capital Management, has long been a vocal advocate for Bitcoin and cryptocurrency as a revolutionary asset class.

As Bitcoin continues its rollercoaster ride, traders are nervously eyeing a phenomenon known as the “futures gap,” which has historically led to significant price movements in the cryptocurrency market. With prices hovering near critical levels, investors are bracing for potential volatility ahead.

Bitcoin is trading around its all-time highs as we reach the final week of March. The drop from the all-time high of $74,000 reached 17% at one point, which, although still moderated by bull market correction norms, has alarmed many. When paired with the growth in mining difficulties, the traditional characteristics of a bullish trend become obvious. Beyond Bitcoin, several traditional macroeconomic factors might result in a more turbulent phase for risky assets.

In recent days, bitcoin has regularly hovered above the $60,000 barrier throughout March. With its value skyrocketing, many long-term holders have begun to move large amounts of dormant bitcoins from wallets that haven’t seen activity in years. March has emerged as a critical month for transactions utilizing historical bitcoins.

Cryptocurrency markets, particularly Bitcoin, have recently become a battlefield. BTC is fighting a relentless effort to break through the important resistance level of $68,800. However, recent action has highlighted dangers below the $65,000 support level. What may be expected of Bitcoin’s price in the next few months?

Binance, one of the leading cryptocurrency exchanges, made an unexpected move by listing Book of Meme (BOME) for spot trading on March 16, 2024, at 12:30 (UTC). This action by Binance is notable due to the rarity of spot listings following futures, which typically take longer to materialize. The sudden listing of BOME led to a significant surge in its value, with the MEMECOIN experiencing a remarkable 243% increase in 24 hours.

Arbitrum (ARB), a Layer 2 token, plummeted 14% immediately after more than a billion tokens were released onto the market. According to the website 21milyon.com, ARB traded at $1.9 on March 16. However, prices began to fall sharply following the projected conclusion of the token supply release.

In the past 24 hours, Worldcoin (WLD) has seen an impressive surge of over 38%, propelling its price above $10 and pushing its market capitalization beyond $1.49 billion. Additionally, Worldcoin’s Fully Diluted Valuation (FDV) has surpassed $100 billion, solidifying its position as the fourth largest FDV coin, trailing closely behind USDT.

Following Bitcoin’s surge past the all-time high of US$70,330, Binance’s future data reveals a swift downturn, with the cryptocurrency plummeting to US$67,600. The sudden drop triggered a significant wave of liquidations across the network, totaling nearly US$100 million within just one hour.

LENA Network, a liquidity protocol that recently raised over 800 ETH, faced a staggering setback as its token plummeted over 80% within hours of its launch. The project’s Deployer transferred a significant sum, totaling 753 ETH (equivalent to $2.9 million), to the cryptocurrency exchange OKX, adding to concerns surrounding the token’s sharp decline.