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Bitcoin Plunges Below Crucial $9,000 Support; What Analysts Think Comes Next

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After a long period of trading within a firm range between $9,000 and $10,000, Bitcoin is finally beginning to show some signs of breaking down.

This weakness has come about due to the cryptocurrency setting lower-highs over the past few weeks, while also not being able to post any strong reactions to its key support in the lower-$9,000 region.

After being rejected at $9,800 earlier this week, BTC dipped to lows of just under $9,000. Although this should have sparked a notable surge, its reaction was tempered and weak.

There are some bearish catalysts currently outstanding that may be contributing to this weakness.

One such factor would be the heightened miner outflows seen throughout the past few days. These tend to spike just before the crypto enters short and mid-term downtrends.

As for where analysts think the cryptocurrency could trend next, some have set near-term targets as low as $7,800. That being said, it does have some notable support around $8,500 that could slow its descent.

Bitcoin Breaks Below $9,000 Support as Weakness Mounts

At the time of writing, Bitcoin is trading down just over 2% at its current price of $8,950. The crypto has found some slight support here, but it is showing continued signs of weakness as its buying pressure begins dissolving.

bitcoin
bitcoin chart from TradingView.com

This break below its crucial lower-range boundary has come about after over a month of consolidation between $9,000 and $10,000.

It doesn’t come as a huge surprise to investors that Bitcoin is beginning to break down from this trading range, as it posted countless rejections at $10,000 and has been establishing lower highs over the past few weeks.

Analysts are noting that the key level to watch is $8,900, as a break below this could lead it to freefall towards the mid-$8,000 region before it finds any support.

Josh Rager, a respected cryptocurrency analyst, spoke about this in a recent tweet, explaining that he believes a break below this level could be imminent.

“BTC: Can we just break down to $8900 already. I still think price makes way to $8500 with some nice bounces in between,” he explained.

Bitcoin

Image Courtesy of Josh Rager. Chart via TradingView

Here’s Just How Low Some Analysts Think BTC Could Plunge 

Although the benchmark digital asset may find some support at $8,500, some traders are pointing to a clear distribution pattern as a potential catalyst for an even deeper selloff.

One pseudonymous trader spoke about this in a tweet, explaining that he thinks the decline will start accelerating in the near-term. His first region of interest sits between $7,800 and $8,100.

He does note that the decline could lead it as low as $6,800.

“BTC: Distribution leading into markdown. Should see some acceleration here soon. I’ll update this chart later with some targets to keep in mind. Remember, there will be bounces. Like R low. Invalidation 9.8k+ Pretty easy and clean thus far. Potential levels: 7.8-8.1k, 7.4, 7163, 6.8,” he explained.

Image Courtesy of Pentoshi. Chart via TradingView
Featured image from Shutterstock. Charts from TradingView.

Source: https://www.newsbtc.com/2020/06/27/bitcoin-plunges-below-critical-support/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-plunges-below-critical-support

AI

Ripple Price Analysis: XRP Surges 10% Daily but Faces Critical Support Against Bitcoin

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[PR – 26th July 2021, Ho Chi Minh City, Vietnam]

Santo Blockchain Labs, a creative blockchain software development company has joined forces with renowned French pop artist Jerome Peschard, to bring to life a new series of NFTs called XR-NFTs “eXtended Reality Non-Fungible Tokens”.

What Are XR-NFTs?

XR-NFTs are the most eclectic form of using 3D scanning telemetry, augmented reality, virtual reality, sound, and digital smell technology intertwined with the creativity of Jerome Peschard’s digital pop art. The NFT creations use blockchain technology to offer their user a one-of-a-kind sensorial digital asset experience.

Rush of Mars

To honor this new dawn of space travel, where the likes of Sir Richard Branson, Jeff Bezos, and Elon Musk are disrupting space travel and making it a reality for all humankind to one day travel to space, Jerome Peschard has created a limited-edition series of 50 XR-NFTs and 1 Digital-Physical Asset Based XR-NFT allegory entitled “Rush of Mars“.

The “Rush of Mars” allegory will feature a 150X150cm physical original artwork from pop artist Jerome Peschard. Jerome’s canvas of choice are rusty steel sheets from building construction sites pieced together to form the masterpiece. The creation has a neon greenish light on the words “Rush of Mars” the neon light will slowly flash 2-3 times, before an electric spark ignites the electrode gas in the neon, to light up the letters. Additionally, viewers will experience a humming sound that atoms make when getting electrically charged inside the vacuum tube.

NFC Tag

From the greenish futuristic hue, with elements of 1950s fast-food signage, to a countdown of a rocket ship, electric futuristic vehicle, 60s style female model and flying saucers, including many hidden elements, gives us a true sense of the allegory of “Rush to Mars”.This physical masterpiece asset will have an NFC-Tag that can be scanned by any smartphone to open the XR-NFT, it will show multiple 3D elements, and sounds to bring this masterpiece to life in a digital and blockchain world.

The purpose of the NFC-Tag is to give not only the owner a unique sensorial experience and transfer the asset but to also give anyone that experience when admiring this masterpiece in any museum, gallery, or private showing. The limited-edition series of 50 XR-NFTs, will each have one unique element chosen by Jerome and minted on the blockchain.

Own an XR-NFT

With this unique XR-NFT series, Santo Blockchain has made it possible for art aficionados around the world to purchase artworks from renowned artists like Jerome Peschard. Interested parties can sign up for the presale waiting list through Santo Blockchain.

The limited edition of 50 XR-NFTs are set to be minted in mid-August and will be available to buy with ETH. Anyone interested in the unique creations can stay up to date about the minting details, and future airdrops via the Santo Blockchain social media channels.

The hope is that one day, in the not-so-distant future; not only will humans travel to space, but also take these digital assets along, empowering us to enjoy and to barter in these new frontiers.

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Source: https://coingenius.news/ripple-price-analysis-xrp-surges-10-daily-but-faces-critical-support-against-bitcoin/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-price-analysis-xrp-surges-10-daily-but-faces-critical-support-against-bitcoin

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Tether Executives Allegedly Under DOJ Investigation for Suspected Bank Fraud

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[PR – 26th July 2021, Ho Chi Minh City, Vietnam]

Santo Blockchain Labs, a creative blockchain software development company has joined forces with renowned French pop artist Jerome Peschard, to bring to life a new series of NFTs called XR-NFTs “eXtended Reality Non-Fungible Tokens”.

What Are XR-NFTs?

XR-NFTs are the most eclectic form of using 3D scanning telemetry, augmented reality, virtual reality, sound, and digital smell technology intertwined with the creativity of Jerome Peschard’s digital pop art. The NFT creations use blockchain technology to offer their user a one-of-a-kind sensorial digital asset experience.

Rush of Mars

To honor this new dawn of space travel, where the likes of Sir Richard Branson, Jeff Bezos, and Elon Musk are disrupting space travel and making it a reality for all humankind to one day travel to space, Jerome Peschard has created a limited-edition series of 50 XR-NFTs and 1 Digital-Physical Asset Based XR-NFT allegory entitled “Rush of Mars“.

The “Rush of Mars” allegory will feature a 150X150cm physical original artwork from pop artist Jerome Peschard. Jerome’s canvas of choice are rusty steel sheets from building construction sites pieced together to form the masterpiece. The creation has a neon greenish light on the words “Rush of Mars” the neon light will slowly flash 2-3 times, before an electric spark ignites the electrode gas in the neon, to light up the letters. Additionally, viewers will experience a humming sound that atoms make when getting electrically charged inside the vacuum tube.

NFC Tag

From the greenish futuristic hue, with elements of 1950s fast-food signage, to a countdown of a rocket ship, electric futuristic vehicle, 60s style female model and flying saucers, including many hidden elements, gives us a true sense of the allegory of “Rush to Mars”.This physical masterpiece asset will have an NFC-Tag that can be scanned by any smartphone to open the XR-NFT, it will show multiple 3D elements, and sounds to bring this masterpiece to life in a digital and blockchain world.

The purpose of the NFC-Tag is to give not only the owner a unique sensorial experience and transfer the asset but to also give anyone that experience when admiring this masterpiece in any museum, gallery, or private showing. The limited-edition series of 50 XR-NFTs, will each have one unique element chosen by Jerome and minted on the blockchain.

Own an XR-NFT

With this unique XR-NFT series, Santo Blockchain has made it possible for art aficionados around the world to purchase artworks from renowned artists like Jerome Peschard. Interested parties can sign up for the presale waiting list through Santo Blockchain.

The limited edition of 50 XR-NFTs are set to be minted in mid-August and will be available to buy with ETH. Anyone interested in the unique creations can stay up to date about the minting details, and future airdrops via the Santo Blockchain social media channels.

The hope is that one day, in the not-so-distant future; not only will humans travel to space, but also take these digital assets along, empowering us to enjoy and to barter in these new frontiers.

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Source: https://coingenius.news/tether-executives-allegedly-under-doj-investigation-for-suspected-bank-fraud-5/?utm_source=rss&utm_medium=rss&utm_campaign=tether-executives-allegedly-under-doj-investigation-for-suspected-bank-fraud-5

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Santo Blockchain and French Artist Jerome Peschard Release Cutting Edge XR-NFT Series

Published

on

[PR – 26th July 2021, Ho Chi Minh City, Vietnam]

Santo Blockchain Labs, a creative blockchain software development company has joined forces with renowned French pop artist Jerome Peschard, to bring to life a new series of NFTs called XR-NFTs “eXtended Reality Non-Fungible Tokens”.

What Are XR-NFTs?

XR-NFTs are the most eclectic form of using 3D scanning telemetry, augmented reality, virtual reality, sound, and digital smell technology intertwined with the creativity of Jerome Peschard’s digital pop art. The NFT creations use blockchain technology to offer their user a one-of-a-kind sensorial digital asset experience.

Rush of Mars

To honor this new dawn of space travel, where the likes of Sir Richard Branson, Jeff Bezos, and Elon Musk are disrupting space travel and making it a reality for all humankind to one day travel to space, Jerome Peschard has created a limited-edition series of 50 XR-NFTs and 1 Digital-Physical Asset Based XR-NFT allegory entitled “Rush of Mars“.

The “Rush of Mars” allegory will feature a 150X150cm physical original artwork from pop artist Jerome Peschard. Jerome’s canvas of choice are rusty steel sheets from building construction sites pieced together to form the masterpiece. The creation has a neon greenish light on the words “Rush of Mars” the neon light will slowly flash 2-3 times, before an electric spark ignites the electrode gas in the neon, to light up the letters. Additionally, viewers will experience a humming sound that atoms make when getting electrically charged inside the vacuum tube.

NFC Tag

From the greenish futuristic hue, with elements of 1950s fast-food signage, to a countdown of a rocket ship, electric futuristic vehicle, 60s style female model and flying saucers, including many hidden elements, gives us a true sense of the allegory of “Rush to Mars”.This physical masterpiece asset will have an NFC-Tag that can be scanned by any smartphone to open the XR-NFT, it will show multiple 3D elements, and sounds to bring this masterpiece to life in a digital and blockchain world.

The purpose of the NFC-Tag is to give not only the owner a unique sensorial experience and transfer the asset but to also give anyone that experience when admiring this masterpiece in any museum, gallery, or private showing. The limited-edition series of 50 XR-NFTs, will each have one unique element chosen by Jerome and minted on the blockchain.

Own an XR-NFT

With this unique XR-NFT series, Santo Blockchain has made it possible for art aficionados around the world to purchase artworks from renowned artists like Jerome Peschard. Interested parties can sign up for the presale waiting list through Santo Blockchain.

The limited edition of 50 XR-NFTs are set to be minted in mid-August and will be available to buy with ETH. Anyone interested in the unique creations can stay up to date about the minting details, and future airdrops via the Santo Blockchain social media channels.

The hope is that one day, in the not-so-distant future; not only will humans travel to space, but also take these digital assets along, empowering us to enjoy and to barter in these new frontiers.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Source: https://coingenius.news/santo-blockchain-and-french-artist-jerome-peschard-release-cutting-edge-xr-nft-series-10/?utm_source=rss&utm_medium=rss&utm_campaign=santo-blockchain-and-french-artist-jerome-peschard-release-cutting-edge-xr-nft-series-10

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Blockchain

Whales Offload Significant Ethereum Holdings from Crypto Exchanges

Santiment, crypto analyzing platform has released a report that says the whales have discharged a significant amount of Ethereum from crypto exchanges

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Santiment, a crypto analyzing platform, has recently released a report that says the whales have offloaded a significant amount of Ethereum from crypto exchanges. The report further notes that the $21.3 million shares of the ten largest non-exchange whales have reached a new five-year high this week. 

Santiment Reports Says Whales Withdrew a Record Amount of Ethereum From Crypto Exchanges

The report particularly says that the ten largest over-the-counter Ethereum addresses now control the biggest volume of Ethereum in the last five years. 

As per the researchers, whales hold around 20% of the total supply of Ethereum, as 21.3 million coins were under the control of the whales by the end of last week.

However, on the other hand, the volume of Ethereum placed by whales in exchange wallets on their side has fallen to its lowest level since the year 2015 (4.66 million Ethereum).

Witnessing the outflow trend of ETH outflow which was high for several weeks recently, it should be noted that this has led to a surge in the price of the altcoin.

When the exchange rate of Ethereum reached the mark of $2,360 during the Asian trading, it marked the highest value since July 7. 

ETH Price Hits 3-Week High as Crypto Markets Bounces Back

As all the coins in the market are following the lead of Bitcoin and are surging in their prices, it is inevitable for Ethereum to stand out of the line. 

In accordance with the data released by market data aggregators and exchanges, ETH touched $2,392 on Monday, marking an 8.2% increase over the last 24 hours and around 22% gain over the past 7 days.

Ethereum is considered a potential candidate that has the capability of replacing Bitcoin as per the institutions such as Goldman Sachs.

In terms of the technological advancements, Ethereum is in line for the London upgrade that is about to go live on August 4 and consists of five EIPs, or Ethereum Improvement Proposals.

READ  ADA Partners with Simplex, Enables Purchase via Credit Cards and Apple Pay 

#Crypto-exchanges #Ethereum #Ethereum Holdings #Whales

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Source: https://www.cryptoknowmics.com/news/whales-offload-significant-ethereum-holdings-from-crypto-exchanges

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