Cryptonews

Meanwhile, ETH decided to reclaim the $4,400 mark after a brief dip to $4,305. It’s up nearly 3%, trading around $4,428, because why stay down when you can bounce back like a crypto kangaroo? 🦘 Ripple (XRP) is up almost 2%, reclaiming the $3 level, and Solana (SOL) is up 1.78%, trading around $223. Even Dogecoin (DOGE) is up almost 4%, proving that memes can indeed be money. 🤡 Cardano (ADA) is up 1.57%, and a bunch of other coins like Chainlink (LINK), Stellar (XLM), and Litecoin (LTC) are also having a party. 🎉

XRP’s trapped inside one of them ascending triangles on the 4-hour chart-look it up if you don’t believe me-a pattern that says, “Hold onto your hat, this thing’s likely gonna keep climbing.” It’s hovering just under resistance like a hound dog sniffin’ a fresh bone, with the triangle’s tip getting closer than a preacher on a Sunday morning.

With the solemnity of a prophet and the wit of a seasoned jester, CZ took to the digital pulpit of X to deliver his oracular insight on the plight of economies that, like fallen empires, tremble and shift beneath the weight of unseen forces. Lo, it was whispered: perhaps, just perhaps, the salvation of nations lies not in the old tomes of dusty tariffs, but in the shimmering promise of crypto-an elixir brewed in code and ambition.

Now, in an unexpected twist worthy of a Netflix series, analyst Maartunn comes out with a juicy tidbit: dormant Bitcoin coins are stirring from their slumber. Oh yes, these long-forgotten treasures, left undisturbed for years, are now making their grand entrance onto the blockchain. It seems the long-term holders, the ones who never flinch at volatility, are shifting positions. A change in the wind? Possibly. It’s like a new season of a reality show where Bitcoin’s biggest players finally decide to show their hand-and this time, it’s about more than just personal drama.

At the moment, Bitcoin is trading at about $114,000, consolidating within a small band and maintaining above the crucial $110,000 support, like a farmer keeping his crops just above the flood line. 🌾🌊 The 50-day moving average is pressuring the immediate resistance, which has moved higher toward $114,500, like a plow pushing through hard soil. 🛠️🌱 Because of the narrow range between the $110,000 support and the $114,500 resistance, traders are looking for a clear breakthrough, like a farmer hoping for a break in the weather. ☀️🌧️

Ah, Dogecoin, the eldest of this trifecta, bearing the weight of its market capitalization like a crown both glorious and burdensome. When it stirs, the earth trembles-or so the tale goes. Gazing upon the daily chart, one observes the price, with a persistence both comical and admirable, transforming the $0.245 resistance into a foundation. 🏰

Padmanabhan even suggested that regulators retreat into closed-door meetings-presumably with dim lighting and strong coffee-to hash out the details of stablecoin regulation. And why not? It’s not like India can afford to ignore what the rest of the world is doing, especially now that the US has decided to flex its e-currency muscles. Oh, America, always setting trends we’re forced to follow.

In the last week, Dogecoin has surged by 16%, and the last 30 days show a respectable 12% increase. The charts, those cryptic little fortune tellers, say that there might be a 50% rally in the air if this ETF hype continues. But hold on-there’s a storm brewing just behind the rainbow.

The PPI reading for August, which came in at -0.1%, was indeed a delightful surprise for the US economy. Analysts had anticipated a modest increase of +0.3%, making this a truly positive development, indicating that the tariffs had yet to exert their full influence. On Thursday, all eyes turn to the Consumer Price Index (CPI) release, where the consensus is also for a +0.3% rise in August. With the Federal Reserve poised to consider raising interest rates next week, it is crucial that this figure does not exceed expectations, lest it cause a stir in the markets and, consequently, in the tender heart of Bitcoin. Should the market suffer from a negative inflation report, Bitcoin is likely to feel the pinch as well. Yet, with the prospect of rate cuts on the horizon, this downturn may prove to be but a fleeting moment of distress. 🌸

Just as Bitcoin’s price now lounges above the $100,000 mark with the nonchalance of a Bright Young Thing at a country house party, the network’s computational prowess has been strutting about the 1 zettahash per second (ZH/s) threshold. Metrics, those tedious but necessary beasts, reveal a peak of 1,027 EH/s, according to the seven-day simple moving average (SMA) tracked by Luxor’s hashrateindex.com. A triumph, no doubt, for the digital proletariat.