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4 03, 2024

671,000 BTC Bought by Million Bitcoin Addresses at This Massive Demand Zone

By |2024-03-04T10:48:05+02:00March 4, 2024|Forex News|0 Comments


Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Bitcoin (BTC), the first and largest cryptocurrency by market cap, has seen tremendous bullish momentum, reaching a new 2024 high of $64,100 on Wednesday.

Bitcoin finished about 45% higher in February, marking its sixth consecutive monthly rise and its best performance since December 2020.

One aspect that may have contributed to this rally is the massive demand for Bitcoin from a large number of investors who purchased BTC at a key price range.

According to crypto analyst Ali, who cited IntoTheBlock data, Bitcoin holds above a massive support wall, with 1 million addresses buying over 671,000 BTC within the price range of $60,334 to $62,155.

This accumulation zone, according to Ali, highlights strong investor confidence and could serve as a crucial level of support for BTC, potentially cushioning against further drops.

Moving forward, Bitcoin will face its next hurdle in the range between $63,282 and $67,413. This is where 48,440 BTC were bought by 193,230 Bitcoin addresses at an average price of $65,164, per IntoTheBlock.

At the time of writing, BTC was marginally up 0.05% in the last 24 hours to $62,010. As Bitcoin takes a breather after its big run, it is on track for a 21% weekly gain, albeit down 9.95% from its current ATH.

While Bitcoin is still short of its November 2021 all-time high (ATH) of about $69,000 in U.S. dollars, it has already surpassed record highs in local currencies in numerous countries across the world.

Bitcoin has reached new highs in economic powerhouses such as China, Japan, the United Kingdom and India, as well as growing economies like Argentina, Turkey and Egypt.





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4 03, 2024

The DeFi Game Is About To Change Forever With This Token Launch

By |2024-03-04T10:13:39+02:00March 4, 2024|Forex News|0 Comments


New Delhi (India), March 4: Decentralized Finance (DeFi) has been a driving force in reshaping traditional financial paradigms. The promise of inclusivity, transparency, and borderless financial services has not only captured the attention of the crypto community but has become a beacon for investors seeking alternatives to traditional finance. As the DeFi landscape evolves, Retik Finance (RETIK) has emerged as a trailblazer, concluding a remarkable presale that raised over $32 million, signalling the imminent launch of its native token, RETIK. This marks the inception of DeFi 2.0, promising a transformative shift in the decentralized financial ecosystem.

Retik Finance: Paving the Way for Financial Inclusion

Retik Finance (RETIK) envisions a future where financial services, encompassing lending, trading, borrowing, and purchasing, are not confined by geographical boundaries or traditional intermediaries. The mission is clear: to make these services accessible within a trustless and decentralized environment. The project’s ethos aligns with the fundamental principles of DeFi, where accessibility and openness to anyone with an internet connection are paramount.

DeFi’s Open Doors: Breaking Barriers to Entry

A defining characteristic of the DeFi movement is its commitment to democratising finance. Traditional financial systems often present insurmountable barriers, limiting access based on geographical location, financial status, or institutional affiliations. In contrast, DeFi protocols, including Retik Finance, champion inclusivity. The open-source nature of these protocols ensures that anyone with an internet connection can participate in a financial ecosystem that transcends borders.

Presale Triumph: Retik Finance’s Impressive Raise

Retik Finance’s recent presale success serves as a testament to the project’s resonance within the crypto community. Raising over $32 million in preparation for its token launch, Retik Finance exceeded expectations and demonstrated a robust appetite for innovative DeFi solutions. The presale, consisting of 10 stages over a condensed two-month period, not only showcased the project’s efficiency but also highlighted the fervent support from the community.

The Countdown Begins: Retik Token Launch

As Retik Finance gears up for the launch of its native token, RETIK, the DeFi landscape stands on the precipice of transformative change. The token launch is poised to kick off the practical implementation of financial services—lending, trading, borrowing—in a trustless and decentralized environment. This pivotal moment represents a giant leap towards making financial opportunities accessible to everyone, irrespective of their location or financial standing.

Affordability and Accessibility: Retik Token’s Listing Price

In line with its commitment to inclusivity, Retik Finance has set the listing price for the RETIK token at $0.15. This deliberate pricing strategy aims to ensure that users from diverse backgrounds can actively participate in the decentralized ecosystem. The affordability of the Retik token aligns with the broader DeFi 2.0 narrative, where financial services are not confined to a privileged few but are available to all.

Community Communication: The Vital Role of Social Media Channels

Anticipation for the Retik token listing is palpable, and Retik Finance recognizes the importance of transparent communication. To keep the community informed, vital information regarding the token listing and vesting schedule will be disseminated through Retik Finance’s social media channels. This commitment to openness fosters trust and confidence, crucial elements for a successful token launch and long-term project sustainability.

Looking Ahead: The Paradigm Shift in Decentralized Finance

The impending launch of the Retik token signifies more than just a new addition to the crypto market. It symbolizes the beginning of a new era in decentralized finance, where barriers are dismantled, and financial opportunities are extended to the far reaches of the globe. Retik Finance’s vision aligns with the broader DeFi 2.0 narrative, where the traditional financial system is challenged, and a more inclusive and equitable alternative is forged.

Building Trust: The Pillars of Retik Finance’s Future

As Retik Finance moves forward, maintaining transparency, fostering community engagement, and prioritising security will be paramount. These pillars form the foundation for a sustainable and successful decentralized financial ecosystem. With DeFi 2.0 on the horizon, Retik Finance is positioned not just as a player but as a pioneer, steering the course for a future where financial empowerment knows no bounds.

Conclusion: The Bright Future of DeFi

The Retik token launch represents a monumental step in the evolution of DeFi. With its robust presale, commitment to accessibility, and vision for a decentralized financial future, Retik Finance is poised to change the game forever. The journey towards DeFi 2.0 is an exciting one, and as Retik Finance takes the lead, the possibilities for a more inclusive and equitable financial system become increasingly tangible. With DeFi 2.0 on the horizon, the future of finance has never looked more promising.

Click Here To Take Part In Retik Finance Presale

Visit the links below for more information about Retik Finance (RETIK):

Website:https://retik.com

Whitepaper:https://retik.com/retik-whitepaper.pdf

Linktree: https://linktr.ee/retikfinance

(Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.)



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4 03, 2024

Russell 2000 Technical Analysis | Forexlive

By |2024-03-04T10:02:21+02:00March 4, 2024|Forex News|0 Comments


Last
Friday, the Russell 2000 surged to new highs despite a much weaker than
expected ISM
Manufacturing PMI. The market probably took it as good news because
it reduces the chances of the Fed eventually being forced to resume tightening.
In fact, the US Dollar and the Treasury yields fell across the board giving the
stock market a boost. The path of least resistance remains to the upside until
we start to see a deterioration in growth or the labour market cracks.

Russell 2000 Technical
Analysis – Daily Timeframe

Russell 2000 Daily

On the daily chart, we can see that the Russell
2000 has finally reached the cycle high and it’s now trying to extend the rally
above it. This is where we will likely find the sellers stepping in expecting
the double top to work
out. The buyers, on the other hand, will want to see the price continuing
higher to invalidate the bearish setup and increase the bullish bets into new
highs.

Russell 2000 Technical
Analysis – 4 hour Timeframe

Russell 2000 4 hour

On the 4 hour chart, we can see that the price has
been trading inside a rising channel. From a risk management perspective, the
buyers will have a much better risk to reward setup around the lower bound of
the channel. The sellers, on the other hand, will want to see the price
breaking below the bottom trendline to
increase the bearish bets into the 1920 support.

Russell 2000 Technical
Analysis – 1 hour Timeframe

Russell 2000 1 hour

On the 1 hour chart, we can see that we
have a minor trendline defining the current uptrend. We can also notice that we
have a divergence with
the MACD, which
is generally a sign of weakening momentum often followed by pullbacks or
reversals. In this case, we might see the price pulling back into the trendline
where we will also find the red 21 moving average for confluence. This
is where the buyers should step in with a defined risk below the trendline to
position for a rally into new highs. The sellers, on the other hand, will want
to see the price breaking lower to pile in and position for a drop into the
major bottom trendline around the 2010 level.

Upcoming
Events

This week we have lots of important events on the agenda
with the release of the US labour market data and the Fed Chair Powell
testifying to Congress. We begin tomorrow with the US ISM Services PMI. On
Wednesday, we have the US ADP, the US Job Openings and the Fed Chair Powell
speaking. On Thursday, we get the latest US Jobless Claims figures, while on
Friday we conclude the week with the US NFP report.



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4 03, 2024

Dollar drifts as Fed clues awaited; bitcoin hits 2-year high By Reuters

By |2024-03-04T09:15:50+02:00March 4, 2024|Forex News|0 Comments


© Reuters. FILE PHOTO: U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

By Kevin Buckland

TOKYO (Reuters) -The U.S. dollar drifted within a tight range on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts.

rose to a more than two-year peak amid big flows into cryptocurrency exchange-traded funds.

The euro was firm following Friday’s 0.33% advance, with a European Central Bank policy decision looming on Thursday.

The yen fluctuated around the closely watched 150 per dollar level, as investors tried to assess whether the Bank of Japan’s exit from its negative interest rate policy could happen as soon as this month.

The – which measures the currency against six major peers, including the euro and yen – was little changed at 103.85 as of 0530 GMT, oscillating narrowly in the bottom half of it 103.43-104.97 range of the past month.

The index lost 0.26% on Friday following some weak manufacturing and construction spending data.

That also weighed on Treasury yields, removing additional support for the dollar, with the benchmark 10-year yield sliding as low as 4.178% for the first time in two weeks. The yield stood around 4.2% on Monday.

“Bias appears to be swinging towards a test of range support,” in the lead up to key macro releases this week, as well as Fed Chair Jerome Powell’s testimony to Congress, Westpac strategists wrote in a client note.

“However, markets will need a major shift in data to suggest that range support will be anything other than another buying opportunity,” that will keep the dollar index within its current range, the note said.

This week brings manufacturing and services ISM readings on Tuesday, with the main event on Friday in the form of monthly payrolls figures.

Meanwhile, the dollar added 0.1% to 150.28 yen, as traders assessed cautious comments from BOJ Governor Kazuo Ueda from late last week that it was too early to conclude that the central bank’s inflation target is close to being met.

That contrasted with hawkish remarks from BOJ board member Hajime Takata earlier the same day, that had sent the yen to a more than two-week high of 149.21 per dollar.

Markets are weighing whether the BOJ will end its negative interest policy at its March 18-19 meeting, or wait until April or later.

Policy makers have repeatedly stressed the need to see continued wage growth, and the outcome of crucial spring salary negotiations will be known on March 13 for Japan’s biggest firms.

“The March meeting is live,” said Shoki Omori, chief Japan desk strategist at Mizuho Securities.

“I wouldn’t say (a rate hike) is probable, but the BOJ is more flexible now” on the timing of an exit from stimulus, he said.

“Shunto results are likely to come out on the better side, and if the U.S. data is strong, it’s really good timing for them just to move ahead.”

Elsewhere, the euro was little changed at $1.08435, sitting near the top of its recent range.

Most economists expect the ECB will first cut rates at its June meeting, but will be hoping for additional clues on the timing from central bank head Christine Lagarde’s press conference.

Sterling rose 0.08% to $1.2663.

Bitcoin was last trading about 1.2% higher from Sunday at $63,350, after earlier reaching $64,284.75, the firmest since November of 2021, the same month it marked its record high of $68,999.99.

The largest cryptocurrency by market value has gained 50% this year and most of the rise came in the last few weeks where trading volume has surged for U.S.-listed bitcoin funds after their approval earlier this year.

“When I look at the Bitcoin futures chart, I see a tired market that doesn’t quite have the willpower to reach for 69k right now,” said Matt Simpson, senior market analyst at City Index.

“I’m not saying this is a market to short, but I would be wary going long at these highs.”



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4 03, 2024

ForexLive Asia-Pacific FX news wrap: Oil gapped higher, but filled, on OPEC news

By |2024-03-04T08:29:17+02:00March 4, 2024|Forex News|0 Comments



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4 03, 2024

Natural Gas and Oil Forecast: Geopolitical Tensions and OPEC+ Cuts Shape Market

By |2024-03-04T07:43:13+02:00March 4, 2024|Forex News|0 Comments


Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.



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4 03, 2024

Asia Market News: Nikkei Enters a New Era with 40,000

By |2024-03-04T06:55:31+02:00March 4, 2024|Forex News|0 Comments


Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.



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4 03, 2024

Exploring the Potential for Further Growth in US Equities

By |2024-03-04T06:08:47+02:00March 4, 2024|Forex News|0 Comments


A note from Citi on US equities (via Canada Globe and Mail report, may be gated) says there is more to come in the rally:

  • current equity bubble is not (yet) overly large in terms of price appreciation, duration, valuation, or sentiment
  • Some are disputing whether it is a bubble in the first place given the expectations of strong earnings growth
  • We measure bubbles as two standard deviations over the longer-term real trend
  • We therefore think the market likely has further room to run
  • An inflating bubble does not mean that the Fed will not be able to cut
  • CAPE ratio is not extreme yet, nor is sentiment. FOMO could create a bubble on par with the larger bubbles in the past, perhaps also given fears that it could be the last bubble before AI, rather than humans, is at the steering wheel

S&P 500 weekly candles

This article was written by Eamonn Sheridan at www.forexlive.com.



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4 03, 2024

Filecoin (FIL) Price Explodes Higher as DeFi TVL Surges to Record High

By |2024-03-04T05:38:09+02:00March 4, 2024|Forex News|0 Comments


Filecoin price continued its remarkable comeback as it joined the other cryptocurrencies in a strong comeback. FIL surged to $11, its highest point since August 22nd. It has soared by more than 280% from its lowest point in 2023, outperforming all traditional assets like stocks and commodities.

Filecoin DeFi TVL rises

Filecoin, the giant Web3 platform for storage, has performed well in this crypto bull run. This increase is mostly in line with the performance of other cryptocurrencies like Bitcoin, Ethereum, and Solana.

Bitcoin has jumped to $64,000 while Ethereum is nearing $3,500. In most periods, altcoins like Filecoin tend to do well when Bitcoin is in a strong rally.

The other reason why Filecoin is doing well is that its Decentralized Finance (DeFi) ecosystem is booming. Data compiled by DeFi Llama shows that the Total Value Locked (TVL) in the ecosystem has surged to over $580 million, a record high,

This surge is a notable one considering that Filecoin had no TVL a year ago. It started gaining share in the industry after unveiling the Filecoin Virtual Machine (FVM), which provides tools for developers to build.

Most of Filecoin’s assets are in liquid staking. GLIF has over $380 million while STFIL, SFT Protocol, Filet Finance, and MineFi have $92 million, $29 million, $20 million, and $19 million, respectively.

These liquid staking platforms allow FIL holders to deposit tokens and then provide them with monthly returns. In Filecoin’s case, storage providers can also stake their tokens. GLIF has an APY of 8.23% and has already paid over $4 million in rewards.

Liquid staking has more advantages than traditional staking in that it allows uses to get cash advance on their vesting block rewards, It also has no due dates or early repayment fees.

Filecoin has also made moves to expand its service offerings. For example, in 2023, the developers launched Filecoin Web Services (FWS), a decentralized alternative to Amazon’s AWS and Microsoft Azure.

Filecoin price forecast

The daily chart shows that the FIL price has done well recently. It has surged from last year’s low of $2.69 to bout $11 today. Most recently, the token has surged above the crucial resistance level at $8, its highest point in January. Rising above that price was important because it invalidated the double-top pattern.

Filecoin price has surged above all moving averages, signalling that bulls are in control. Further, the MACD and the Relative Strength Index (RSI) have all continued rising. Therefore, at this stage, the path of the least resistance for the coin is bullish, with the next point to watch being at $15. The stop-loss of this trade will be at $9.50, the highest swing in February last year.



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4 03, 2024

Weekly Forex Outlook: ECB decision and US payrolls to steal the show

By |2024-03-04T05:22:49+02:00March 4, 2024|Forex News|0 Comments


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