crtypto & forex news

Crypto investigators have flagged suspicious transactions linked to wallets associated with MELANIA and LIBRA memecoins. Blockchain data shows that these wallets moved large sums of money, raising concerns about potential money laundering. Around 19,846 SOL, worth about $2.76 million, was used to purchase the POPE memecoin. However, the tokens were later sold for just 175 SOL, or roughly $24,000. This unusual trading pattern suggests that funds may have been funneled through different wallets in an attempt to obscure their origins. Crypto Wash Trading Or Coordinated Dump? The transaction history raises several questions. Large buys followed by immediate sell-offs at a loss are common signs of wash trading. Some speculate that the wallets were involved in a scheme to move funds discreetly. Others believe it could have been an orchestrated attempt to offload large amounts of POPE tokens without spooking the market. Whatever the case, the rapid loss of millions has drawn attention t...

Dogecoin’s open interest has crashed over $3 billion since January, sparking a bearish sentiment for the foremost meme coin. This critical metric is still at risk of crashing further, given the current outlook in the broader crypto market.  Dogecoin’s Open Interest Crashes Over $3 Billion Since January Coinglass data shows that Dogecoin’s open interest has crashed over $3 billion since January and currently stands at $1.91 billion. The derivatives volume has also declined by almost 30% and currently stands at $3.71 billion. This development is bearish for DOGE as it indicates a declining interest in its ecosystem among traders.  Dogecoin’s open interest is likely to crash further in the meantime, given the bearish sentiment among investors. This bearish sentiment has resulted from the downtrend in the crypto market , which has also led to a massive crash in the Dogecoin price. The foremost meme coin is currently at risk of losing the $0.2 psychological price level, which...

In the past two days, the Bitcoin price has tumbled more than 10%, rattling a crypto market that had seen a sustained period of relative stability. The pullback has left investors questioning the role of US spot-based Bitcoin ETFs in the downturn, as data emerges revealing significant outflows from these products. Vetle Lunde, Head of Research at K33 Research, highlighted on X that ETF outflows have reached notably high levels:“Yesterday’s net outflow of 14,579 BTC in BTC ETPs globally is the largest recorded net outflow since the launch of US spot ETFs. Outflows have dominated throughout February. 69% of all trading days have concluded with net outflows.” Are Bitcoin ETFs To Blame? These figures point to a steady drumbeat of selling pressure in the ETF market. The significance, according to Lunde, is not just the single-day spike in outflows but the persistent trend throughout the month of February. However, not all market observers agree that the large outflows necessarily spell ...

GameStop CEO Ryan Cohen confirmed via social media platform X that he has received a proposal from Strive Asset Management advocating for the company to adopt Bitcoin (BTC) as a reserve asset.  The letter, dated February 24, outlines a compelling case for GameStop to leverage its substantial cash reserves—nearly $5 billion—to redefine its position in the market. From Crypto Wallets To NFTs—Is Bitcoin Next? Strive Asset Management suggests that GameStop, the world’s largest retail gaming shop, is uniquely positioned to take bold steps in the evolving financial landscape, particularly given its stable balance sheet.  This financial strength would reportedly provide GameStop with the opportunity to engage in more “dynamic and potentially lucrative initiatives,” including the acquisition of Bitcoin as a reserve asset. Historically, GameStop’s foray into the cryptocurrency and blockchain space has been mixed. In 2022, the company launched a self-custodial crypto wallet, enab...

Bitcoin (BTC) is trading below the $90,000 mark after a bearish month of February, with analysts and investors growing increasingly fearful that the price could drop to even lower levels. The broader market has continued to decline, setting fresh lows as uncertainty grips traders. Top analyst Axel Adler shared insights on X, revealing that the dominance of large players on exchanges has risen significantly. In December 2024, this dominance was at $94K, but it has now climbed to 96% compared to other transactions. Since this metric only accounts for the inflow of the top 10 largest transactions per day relative to the rest, it suggests that large players have been actively selling their Bitcoin holdings over the past two months. This trend has heightened concerns that BTC could experience further downward pressure . If bulls fail to reclaim key levels soon, Bitcoin could face another round of selling, pushing it into deeper lows. The next few weeks will be crucial as investors assess ...

Crypto analyst Bithereum, who predicted the Dogecoin price crash below the $0.2 level, has revealed the rest of his forecast for the foremost meme coin. Based on this, DOGE could soon witness a bullish reversal and rally to its local high of $0.45.  What Next For The Dogecoin Price In a TradingView post , Bithereum revealed that the Dogecoin price was moving inside a falling wedge and could test the support level of $0.20197 and the ultimate support zone. This eventually happened with Dogecoin dropping to as low as $0.2 following the recent market crash .  The crypto analyst further suggested that the Dogecoin price could rebound to $0.2 following the crash. He advised market participants to set their buy orders at this level and revealed that the targets for a potential rebound are $0.30998, $0.37154, and $0.45918. His accompanying chart showed that a rebound to as high as $0.45918 could happen between now and March.  Indeed, this Dogecoin price rebound could be i...

Bitcoin is trading below key demand levels after days of price compression between critical support and resistance zones. The long period of consolidation finally broke downward, with BTC losing the crucial $90K support and setting a fresh low at $86K. This decline has shaken investor confidence, fueling uncertainty across the market. Top analyst Axel Adler shared CryptoQuant data revealing that the market has seen its most bearish sentiment over the past month. Negative regulatory news and macroeconomic concerns have further pressured prices, leading to a sharp increase in sell-offs. As a result, Bitcoin’s inability to reclaim key support levels suggests that further downside could be on the table. With BTC now trading at fresh lows , traders are closely monitoring whether the $86K level will hold or if bears will continue to push the price lower. If BTC fails to stabilize, it could enter deeper correction territory, testing lower support levels. On the other hand, if bulls step in ...

Investors’ sentiment and confidence in Ethereum , the second-largest digital asset appears to be improving in spite of recent troubling market developments that have hamper its market dynamics. Key metrics show a substantial accumulation of ETH, reflecting its position as a leading asset in the ongoing cycle. Market Trends Changing As Ethereum CBD Decline? Ethereum’s market dynamics are currently shifting even as the asset’s price struggles to recover crucial resistance levels. Leading on-chain data analytics and financial platform Glassnode points to a downward trend in Ethereum’s Cost Basis Distribution (CBD) metric amid fluctuating market performance. A decrease in the cost basis distribution frequently indicates a broader change in the market’s dynamics or a rise in selling pressure. However, this is not the case for ETH right now. According to the on-chain platform, the key metric shows that several cost bases have been moving lower, which suggests that investors have been ac...

In the wake of a series of dropped investigations against prominent crypto companies, legal experts are weighing in on what these developments could mean for Ripple Labs’ long-standing dispute with the US Securities and Exchange Commission (SEC). On Monday, Robinhood confirmed it had received a letter from the SEC stating the closure of the regulator’s investigation into its crypto operations—a probe that originally stemmed from a Wells Notice the company received in May 2024. Coinbase Chief Executive Brian Armstrong also revealed last week that a similar SEC investigation into the exchange had been terminated with no further action. In addition, the NFT marketplace OpenSea previously saw its own SEC probe dismissed. These terminations follow a growing trend: The SEC has been systematically closing or dismissing legal actions against crypto-focused entities—a stark departure from the more combative approach under former SEC Chair Gary Gensler. Notably, Gensler resigned on January 2...

On-chain data shows the activity on the Dogecoin network has witnessed a notable drop recently. Here’s what this could mean for DOGE’s price. Dogecoin Activity-Related Metrics Have Plunged Recently As pointed out by analyst Ali Martinez in a new post on X, some Dogecoin indicators related to network activity have returned to the lowest level in a few months. There are three metrics of relevance here: Whale Transaction Count, Transaction Volume, and Daily Active Addresses. The first of these, the Whale Transaction Count , keeps track of the total number of DOGE transfers carrying a value of more than $1 million. Transactions of this size generally belong to the whale entities, so the indicator can be assumed to represent the activity that the humongous traders of the market are participating in. The Transaction Volume , the second indicator, also mostly tells us about the activity of these investors, as it measures the total amount of Dogecoin that’s becoming involved in transfers...

In a discussion on X, Jason Lowery debated the viability and future of Reusable Proof-of-Work (RPoW) networks—particularly whether nations might attempt to create competing proof-of-work systems. The conversation was sparked by an inquiry from Rabbit Hole Investor (@rabbitholeinvst) directed at Lowery, an astronautical engineer, Major in the US Space Force, and author of the “Softwar” thesis. Lowery’s thesis emphasizes Bitcoin’s strategic importance for US national security. Can Nation-States Fight Bitcoin With Their Own PoW Network? Rabbit Hole Investor asked Lowery, “Do you see a future where other reusable proof of work networks are created for other applications?” Lowery responded by referencing questions he previously received from the White House Office of Science & Technology Policy. He stated that while he cannot predict the future with absolute certainty, he believes there will be a dominant RPoW network that gains universal acceptance in much the same way that TCP/IP ...

The Dogecoin price could be getting ready for a fresh bullish wave as a crypto analyst projects a surge to new all-time highs . The analyst cites past performances as a reason for this bullish projection, highlighting the Dogecoin price action from previous bull cycles.  Dogecoin Price Past Performance To Push It Above $0.73 Crypto analyst Javon Marks took to X (formerly Twitter) on February 22 to share a bullish prediction of the Dogecoin price. The analyst highlighted past bull market performances to support his forecast, predicting that DOGE could soon rally above its current all-time high of $0.73905. In his chart, Marks revealed Dogecoin’s price action during the 2016/2017 bull run and the 2020/2021 bull market. In both cycles, DOGE seemingly experienced a rapid price crash, following a descending price channel . However, after a long period of consolidation, it recorded a massive price rally that triggered an ATH breakout to $0.00232 in 2018. During the 2021 bull marke...

Bitcoin is trading below the $100,000 mark, with bulls unable to reclaim this key level for over three weeks. The price has remained above critical demand zones, but market uncertainty and volatility continue to weigh on sentiment. Investors are growing impatient, as BTC’s price action has remained indecisive, fluctuating between attempts to break above supply and risks of a deeper correction. Crucial data from Glassnode reveals that Bitcoin’s Short-Term Holder Spent Output Profit Ratio (STH-SOPR) on a 7-day Simple Moving Average (SMA) is once again testing the breakeven level at 1.0. This indicator measures whether short-term holders are selling at a profit or loss. Historically, a clean breakout above 1.0 confirms a shift in market momentum, often leading to strong rallies. However, failure to hold above this level has frequently resulted in renewed selling pressure and further price declines. The next few days will be critical as Bitcoin tests this key metric. If BTC can reclaim $...

The US-based spot Bitcoin ETFs (exchange-traded funds) recorded their second consecutive week of significant outflows over the last five-day trading period. This recent run of disappointing performances reflects the ongoing shift in investor sentiment in the United States. Over the past year, strong inflows into the US Bitcoin ETF market have constantly been associated with positive action for the BTC price. Fittingly, the price of Bitcoin has been consolidating over the past few weeks, struggling to pick up any real momentum. Bitcoin ETFs Record Fourth Consecutive Outflow Day According to the latest market data , the US Bitcoin ETFs registered a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth straight day (and the eighth day in the last nine trading days) that the crypto-based products would witness a net capital outflow. The Grayscale Bitcoin Trust (with the ticker GBTC) accounted for a larger percentage of Friday’...

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....

In a move that many in the crypto industry view as a positive signal, the US Securities and Exchange Commission (SEC) has officially discontinued its investigation into OpenSea, the leading NFT marketplace. This decision concludes months of uncertainty regarding the regulatory status of NFTs and their classification under US securities laws. SEC Decision Signals A Shift On February 21, 2025, Devin Finzer, the CEO and co-founder of OpenSea, said the SEC will not take any enforcement action against the firm. This comes following the August 2024 Wells Notice to OpenSea issued by the SEC, which indicated the possibility of legal action on alleged unregistered securities offenses. The outcome of this case suggests a possible shift in the way authorities handle NFTs, therefore affecting the whole scene of digital assets. For the industry, this outcome has been seen as a major turning point. Though they are in rivalry with OpenSea, Chris Akhavan, the Chief Business Officer of Magic Eden,...