Crypto News: Bitcoin Crash, ETH Blast Off, RON, PYTH & MORE!!

"this will likely occur regardless since all the gbtc holders and BTC whales will eventually run out of assets to sell all while trafi keeps buying in the short term though there's no question that this is dragging down btc's price as you can see BTC is looking very weak on the daily chart it's sitting around a critical zone of resistance of roughly 42k and could crash down to 38k in the coming days note that long liquidations could take BTC lower zooming out to the weekly suggests that BTC could fall as low as 35k"

"Alternatively BTC could Bounce from this level and retest the Ballinger band moving average from below a move to roughly 44k depending on the Catalyst which causes this move it's possible that BTC will break back above that key level into bullish territory note that a short squeeze could occur too in this case the largest could be a retest of the recent high of roughly 49k"

"it looks like the rotation into eth has finally begun though it may not be obvious when the whole Market is flashing red this makes perfect sense though given that asset managers have turned their focus to the spot ethereum ETF in a big Way Franklin Templeton is the latest to call for an approval while this is also nothing new there is likewise something different happening beneath the surface transactions on ethereum are at their highest level since November 2021 to put things into perspective November 2021 was the top of the last crypto bull market it's safe to say that ethereum hitting these transaction levels at this stage in the crypto cycle underscores just how much eth could explode in the next few months"

"coinbase says that eth will have a breakout year due to the denune upgrade whose first test net recently experienced some issues"

"it's going to be interesting to see which devs and daps take blast up on its offer in the coming weeks it seems likely that there will be at least a few who do that's because electric capital's recent developer report revealed that nine out of 10 multi-chain developers work with evm compatible blockchains this highlights just how dominant ethereum has become in the broader crypto ecosystem and more importantly it sets the stage for a scenario where ethereum and its layer 2os could take lots of market share away from other evm chains that were being treated as de facto layer 2os during the last cycle put differently ethereum could cement its dominance among smart contract cryptocurrencies"

"if the judge does throw out the case or even just the part about certain cryptos being Securities this means that the altcoins the SEC is after will be off the hook obviously this would be extremely bullish for all the altcoins that the SEC has claimed are securities including those in the sec's lawsuit against binance that's just because the judge's decision could likewise be used as a precedent by binance's lawyers to water down the secc's allegations"

"any Clarity from the courts could therefore allow them to ape in this would likely evolve into a new wave of investment into the broader altcoin ecosystem given that secondary sales of every altcoin would theoretically be above board"

"if it plays out Ron could potentially see explosive growth over the coming weeks"

"this could translate into some more gains in the short term if the Catalyst can keep it going"

"the chart looks similar to Ron's in the sense that it could be in the process of painting a double bottom that could foreshadow a massive game in the medium term"

"if it can get above this Zone then it could see new all-time high in the medium term"

"Sam believes that this will happen by the end of q1 so by the end of March"

"this would do serious damage to risk assets such as crypto which are currently pricing in lots of rate Cuts in 2024"