Poor Bitcoin couldn’t keep its head above the $110,500 pivot level and has since embarked on a fresh decline. It’s dipped below $110,000 and $109,500, landing itself squarely in a bearish zone-how utterly unfashionable. 👎
More tokens have moved into self-custody and exchange-held public wallets, because nothing says “trust in decentralized systems” like entrusting your crypto to a website that once hosted a man who claimed to be a “crypto guru” but was actually just a very enthusiastic parrot.
According to XWIN Research Japan (who, let’s face it, sounds like they should be selling sushi and crypto advice), Bitcoin might be gearing up for a breakout! This is what they call “asset-building momentum,” which is fancy talk for “Bitcoin’s been slacking off, but don’t worry, it’s planning a comeback.” The plot thickens as XWIN dives into three key on-chain metrics that could finally make this cryptocurrency drama interesting.
This hullabaloo has stirred up old grievances, including the detention of Binance’s former executive Tigran Gambaryan, and has thrown US-Nigeria relations into a pot of boiling gumbo, with crypto geopolitics as the spicy seasoning. 🌶️
Months after a validator key was compromised in September (a scandal so scandalous it could rival a Molière comedy), the engineers have overhauled the network. No longer shall users and apps rely on a single, centralized channel! Now, traffic is distributed across multiple nodes, as if throwing open many doors to prevent a single villain from crashing the party. 🚪
Everyone’s talking about ZEC’s price going up, which is nice for whoever bought it low. But the truly fascinating thing is the subsequent surge in hash power. It’s like a gold rush, but with more electricity bills and the nagging suspicion that it’s all going to collapse at any moment. 🙄
One might be forgiven for imagining that the digital economy had been placed in the hands of a particularly inept butler, given the spectacle of Amazon Web Services collapsing yet again on Oct. 20. Coinbase, Robinhood, and Coinmarketcap-those paragons of financial innovation-were left gasping like debutantes at a power outage. And, darling, there was a second hiccup ten days later. How déclassé.
Although the underlying cause is still a mystery, this spike is consistent with an increase in transactional activity and payment volume throughout the network, suggesting a resurgence of user interest 🤝. On-chain data shows that on Nov. 1, the number of payments between accounts exceeded 1 million, and the payment volume increased to more than 1.2 billion XRP 🤑.
History, that fickle mistress, whispers that fresh liquidity often sets the stage for BTC’s grand pirouettes. With macro sentiment shifting like a chameleon on a plaid couch, Bitcoin’s Q4 run appears merely delayed, not denied. After all, who needs a prompt finale when the encore promises to be so dazzling? ✨
Bitcoin, the stalwart of the crypto realm, rose 0.67% to $110,700, while Ethereum, ever the loyal companion, climbed to $3,850. XRP, the underdog, surged 11%, reclaiming its throne as the fourth-largest crypto. 🦍 The market, once a desolate wasteland, now sparkled with hope. 🌈