Crypto News

Apparently, yes. Strong spot buying and a positive funding rate say, “Not today, Satan.” But let’s not get our hopes up-this is crypto, after all. 🎢

Here’s the tea: Canary’s charging a 0.50% sponsor fee for both ETFs, which is like, “We’re fancy but not *too* fancy.” A step down from their 0.95% HBAR and Litecoin fees-clearly, they’ve been shopping the clearance section. Bloomberg’s Eric Balchunas (aka the ETF whisperer) spilled that the Solana ETF includes staking but won’t share the rewards. Classic “I’ll take the cake and eat it too” move. 🍰

But beware, for there’s a twist! Structural fragility looms like a villain in this crypto tale.

The LINK price has been stuck in a downward spiral, hitting lower lows and lower highs like it’s trying to set a new record for pessimism. Ever since the August flop, the bears have been ruling the roost, with traders apparently losing interest-just look at that shrinking trading volume! And then there’s the resistance level, standing strong like a wall of indifference, laughing at LINK’s attempts to break through. So, while there’s talk of bullish dreams, it’s hard to shake off that nagging feeling that the worst might be yet to come.

The ominous $123K liquidation levels and Taker Sell Dominance are playing the role of buzzkill. Could they spoil the next big breakout? Stay tuned.

Yet, the soothsayers of the financial underworld-those modern-day augurs-predict that this retreat is but a prelude to a triumphant rally, with heights of $5,000 and beyond in their crystal balls. 🌟📈

Pavel Durov remarked that on his 41st birthday, he felt no compelling reason to celebrate, expressing a grave certainty that “our generation is running out of time to save the free Internet built for us by our fathers.” What was once a haven for free expression is rapidly mutating into a puppet stage for governmental control.

But fear not, crypto enthusiasts! While Ethereum was busy face-planting, Bitcoin ETFs were out there doing the electric slide, raking in $198 million in net inflows for their ninth consecutive day of gains. 🎉🕺 Bitcoin, the cool older sibling, just keeps flexing with its $121,373 price tag and $2.42 trillion market cap. Ethereum, honey, you’ve got some catching up to do. 🏃♀️💨

After that jolly good show earlier in the week, the $BTC price has had the market in a bit of a tizzy, salivating like a spaniel at the thought of another upward jaunt. This current retracement, though, looks rather like a chap pausing to tie his shoe before dashing off to the next soiree. In the 4-hour chart above-which I’m sure you’re all squinting at with great interest-one can observe a downward trend, with a candle wick that’s almost tickled the 0.382 Fibonacci level. Could this be the local bottom? One can only hope, what? 🕺

In their report, “Gold’s Reign, Bitcoin’s Rise: The Future of Central Bank Reserves,” gold is cast as the bedrock of the 20th century while Bitcoin is waved at like a shiny, slightly suspicious cousin from the 21st. They claim Bitcoin isn’t backed by a hunk of metal, but behaves like gold in practice, with volatility finally dropping to levels that won’t frighten pension funds into spontaneous acts of sprinting. 🧭✨