Although bitcoin trades 25% higher than its multi-year bottom tapped in June at $17,500, CryptoQuant suggested that the asset could face upcoming price drops. This is because of the Bitcoin Exchange Whale Ratio, which has gone into an overheated state.

The metric follows and displays the relative size of the top 10 inflow transactions compared to the total inflows on crypto exchanges. In bull markets, as the landscape certainly was until the end of 2021, the ratio is typically below 85%.

In contrast, though, its usually well above that percentage when the bears are in control of the market, or theres what CryptoQuant describes a fake bull (market) for a mass-dumping.

The analytics resources latest report on the matter showed that the Whales Exchange Ratio has jumped above 0.925, which is a multi-year peak. The last time it was this high was back in early 2020, shortly before bitcoin cooled off by plummeting below $4,000 during the COVID-19 crisis.

Since then, the metric has remained mostly below or around 0.85, which coincided with the massive bull run that resulted in BTC tapping an all-time high of $69,000 last November.

It spiked above the 0.85 level in Q2 2022, which turned out to be the assets worst quarter in a decade. Since it has remained in this danger zone, CryptoQuant concluded that BTC could be primed for more price retracements as there are no apparent signs of cooling down.

As mentioned above, BTC peaked in November but has been in a state of freefall ever since. The situation worsened in June this year when bitcoin plummeted from over $30,000 to its lowest price position since December 2020 of $17,500 in just days.

The following several weeks saw some relief as the cryptocurrency reclaimed the coveted $20,000 level. Last week witnessed another price surge as this time, the asset jumped to a 40-day high of over $24,000.

However, it couldnt continue upwards and dipped by $2,000 on news that Elon Musks Tesla had sold 85% of its BTC holdings during Q2. As of now, it still trades around $22,000, but it would be intriguing to follow whether it will slip again as the Whales Exchange Ratio suggests.

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Bitcoin Is Not Out of the Woods Yet According to This Metric - CryptoPotato

Ethereum researcher, Vivek Raman, is convinced that Ethereums upcoming transition to a proof-of-stake (PoS) system will enable it to take over Bitcoins (BTC) position as the most prominent cryptocurrency.

Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin, said Raman in an exclusive interview with Cointelegraph.

The Merge, a long-awaited upgrade that will complete Ethereums transition from a proof-of-work (PoW) to a proof-of-stake system, is set to take place in September. In addition, The Merge will transform Ethereums monetary policy, making the network more environmentally sustainable and reducing ETHs total supply by 90%.

After The Merge, Ethereum will have lower inflation than Bitcoin. Especially with fee burns, Ethereum will be deflationary while Bitcoin will always be inflationary. Although, with every halving, the inflation rate goes down, pointed out Raman.

While Bitcoin will retain its function as digital gold, according to Raman, Ethereum will still have a larger adoption space as the base layer of the decentralized finance (DeFi) economy.

The Merge wont reduce Ethereums high transaction fees, which is still the main issue preventing Ethereum from scaling. That is not an issue, according to Raman, as Ethereum will rely on layer-2 scaling solutions to support most users activity:

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The Merge is Ethereums chance to take over Bitcoin, researcher says - Cointelegraph

XP Inc., the largest investment brokerage in Brazil by market value, will allow some customers to begin trading bitcoin next month, according to a report from Reuters.

XP will list bitcoin and one other cryptocurrency on its cryptocurrency trading platform, Xtage, by mid-August. The broker plans to expand its product offerings by the end of the year, the companys director of financial products Lucas Rabechini said, per the report.

Institutional cryptocurrency firm BitGo was selected as XPs custody partner for Xtage. BitGo offers institutional-grade cold storage multisignature (multisig) wallets to safeguard assets while offering insurance on assets held on the platform, as well as self-managed cold custody solutions. Initially, Xtage will reportedly not support withdrawals or transfers of bitcoin.

Xtage was first announced in May, and became available exclusively to employees in early July. XP mentioned the quick timeline was in part due to the growing competition from other financial institutions entering the ecosystem such as Nubank, Itau Unibanco and BTG Pactual.

"There are competitors doing their homework, some pretty competent ones, but we are competent as well," Rabechini said.

The reportedly super fast trading platform was designed in partnership with Nasdaq focusing on order execution and will integrate with its current applications. Additionally, Rabechini noted that this decision is about technology, not being able to price the market at the right time.

"You can say 'the volume has been weak, there will be few orders,' but we see this market systematically growing over time, and our long-term view is not just focused on price, but also technology," Rabechini said.

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Brazils Largest Investment Broker To Offer Bitcoin Trading In August: Report - Bitcoin Magazine

Bitcoin price is undergoing an uptick in sell-side activity that has led to a retracement after nearly a week of an uptrend, starting July 13. Now, BTC has arrived at a level that will decide its fate and perhaps the directional bias for altcoins.

While the technicals are painting an on the fence picture of the markets, one can guess if it is from the expectations of an interest rate hike that is scheduled to take place on July 27. This behavior makes sense, considering the previous rate hikes have generally caused crypto markets to tank.

On July 13, the Fed hiked rates by 75 basis-points, causing BTC to drop 5%, but the short-term loss was eventually offset as Bitcoin price triggered a week-long rally that pushed it from $19,000 to $24,000.

Investors, therefore, need to pay close attention to how the markets will react on July 27.

BTC/USD vs Interest rate chart

Bitcoin price produced a daily candlestick close below the 200-week SMA on July 22. This development indicates that there is a weakness among buyers. Since then, BTC has dropped 4% and is currently hovering around $21,943.

Regardless of this downswing, the bulls have another chance to recover due to the presence of the 30-day Exponential Moving Average (EMA) at $22,010 and above the 100 four-hour Simple Moving Average (SMA) at $21,562.

With the Feds stepping in to raise the interest rate by another 75 basis points, investors can expect volatility. A brief sweep of the $21,710 should be expected, but a quick recovery should suggest a bullish sentiment.

A bounce off the aforementioned level could trigger a run-up to the $25,000 level after a 15% rally. This level is more likely to form a local top than the current one at $24,276.

However, traders should keep their minds open for an extension of this move to the $28,000 to $30,000 area in a highly bullish case.

BTC/USD 1-day chart

On the other hand, if the Bitcoin price breaks below the $21,710 support confluence, there is a good chance BTC could revisit the $19,657 support level. A breakdown of this level could see BTC retest the liquidity pool, extending from $18,638 to $19,286. In some cases, a sweep of the range low at $17,605 is also plausible.

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How will Bitcoin price react to another 75 basis point hike? - FXStreet

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If bitcoins price stabilizes over the next two weeks, the prolonged crypto bear market also known as crypto winter could end as quickly as it started.

Thats according to Edward Moya, senior market analyst at brokerage firm Oanda, who says Wall Street is enjoying a positive risk-on mood that is good news for cryptos. He says the crypto market is starting to look attractive now that the economy is looking a little better as expectations for Fed tightening eased.

Moya is referring to the rising stock market in recent days and a general calming of macroeconomic fears among investors. Often, a rise in stocks will also lift cryptocurrencies. He says investors are beginning to feel more optimistic about the economy, inflation, and rising interest rates, which is a positive sign for risky assets. Typically, the more confident investors feel about the stock market and the broader macroeconomic environment, the more risk theyre willing to take on.

Bitcoin rose above $24,000 on Wednesday, hitting its highest level in more than a month. Ethereum has been up more than 50% over the last few days and was trading above $1,600 on Wednesday.

Many crypto experts weve spoken to over the last few months have been expecting one last major plunge for the crypto market, with some targeting a bottom of anywhere between $10,000 to $14,000 for bitcoin. While that could still happen, Moya says if more institutions buy in over the coming weeks, that could allow for bitcoins bottom to have been made since market positioning became extreme.

Less than a month ago, crypto was in the midst of one of the worst market crashes it has ever experienced. Bitcoin and ethereum were down more than 70% since the peak of last years bull run. Several high-profile crypto companies, most notably hedge fund Three Arrows Capital and crypto lender Celsius, filed for bankruptcy. The size of the industry itself had fallen below $1 trillion, a significant decrease from just a few months prior when it was worth more than $3 trillion.

But investors are holding out hope that the shakeout over the past few weeks is nearing its end, says Marcus Sotiriou, a market analyst at digital asset broker GlobalBlock. Crypto prices are pushing up as investors begin to feel more bullish toward the crypto market, thanks partly to the recent rally in stock markets across the U.S., Europe, and Asia, he says. Cryptocurrencies, particularly bitcoin, have been tracking closely with the stock markets since the start of the year.

When the market starts reacting positively to negative news, this is a signal that a local bottom could be in for now, as fear may have caused the news to be priced in, Sotiriou says.

Despite the positive momentum over the last few days, the crypto market is still suffering. Both bitcoin and ethereum are down more than 50% this year, and bitcoin posted its worst quarterly loss in more than a decade between April and June.

Were in a full-blown bear market, not a bear cycle. Just because we see some positive price action doesnt mean were out of the clear, says crypto expert and educator Wendy O. Were currently trading at $1,500 [for ethereum], and in order for me to be super bullish on ethereum, I would need to see us break above $2,248. Thats a 50% price pump right there.

So, what does the latest crypto rally mean for investors? It shouldnt significantly change your crypto investments or how you invest in crypto if youre in it for the long haul. Given the cryptos history of volatility, this increase doesnt guarantee a long-term reversal. Crypto prices are just as likely to fall back down as they are to continue climbing.

Because the future of cryptocurrency is sure to include plenty more volatility, financial advisors recommend allocating no more than 5% of your investment portfolio to crypto and investing only what youre OK with losing. Always make sure your financial bases are covered from your retirement accounts to emergency savings before putting any extra cash into a speculative asset like bitcoin or ethereum.

We have a long ways to go before anything happens, O says.

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Crypto Winter Could Be Over If Bitcoins Price Does This, According to One Expert - NextAdvisor

Nigeria leads the African continent with digital asset regulations, a top official at the countrys securities watchdog recently claimed.

Speaking during a local industry event, Dayo Obisan claimed that the Securities and Exchange Commission (SEC) had made great strides in regulating the digital asset space. He delved into the separation of powers and responsibilities between the Central Bank of Nigeria (CBN) and the SEC regarding digital assets.

Months ago, we still released additional rules on crypto. Nigeria is leading in Africa in terms of making the rules and regulating into the digital asset space. Worldwide, we are one of those acknowledged to be looking keenly into that space, Obisan, the executive commissioner at the SEC,noted.

For the SEC, the most important things are practicability and implementability when it comes to digital asset regulations, not the stakes.

Obisan added that the SEC is molding its digital asset regulations on the example set by its counterpart in the United States, led by Commissioner Gary Gensler. And while Nigerias watchdog may be emulatingGenslers agency, the latter hasnt fared too well in the Bitcoin space. Granted, it has raked in billions of dollars in the past decade from enforcement actions against blockchain projects. However, it has often been criticized for its failure to issue regulatory clarity to the industry. Senator Elizabeth Warren (D-Mass.) recently blamed it for the billions of dollars lost by U.S. investors in the past few months.

One of the issues that have plagued the digital currency industry globally is the lack of clear distinction between the different financial regulators and their jurisdiction over the sector. In the U.S., the CFTC and SEC have found themselves with overlapping roles in the sector, confusing the stakeholders. Things arent much different in Nigeria, with the SEC and the Central Bank ofNigeriabeing the two predominant regulators for the sector.

Obisan broke down the distinction between the roles of the two watchdogs, noting that it all depends on how a digital asset is used.

When anything is a fiatfiat is moneywe use it as a means of exchange, that is an exclusive precedence from the Central Bank of Nigeria. But when it is used as an investment tool, then it falls squarely on our lap, he said.

Unlike the SEC, the Nigerian central bank isnt particularly fond of digital assets. In the past two years, it has made several moves meant to stifle the use of digital assets in Africas biggest economy and the biggest Bitcoin market on the continent. These includebarring banks from serving the industryandincentivizing Nigeriansto use avenues that compete directly with digital assets, such as cross-border money transfer services.

Watch: The BSV Global Blockchain Convention panel, Blockchain in Africa

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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Nigeria SEC: We have the best Bitcoin regulations in Africa - CoinGeek

Alex Dovbnya

The Shiba Inu cryptocurrency is trading in the red together with other major cryptocurrencies

Shiba Inu, the second-largest meme cryptocurrency has declined by nearly 4% over the past 24 hours, trading in tandem with Bitcoin.

Bitcoin, the flagship cryptocurrency, has dipped below the $22,000 level, dashing the hopes of bulls.

Ethereum and Cardano have declined by more than 5% over the past day. Every top 20 cryptocurrency is in the red, with Uniswap (UNI) being the only cryptocurrency that has managed to buck the trend.

As reported by U.Today, the meme cryptocurrency also was launched on the decentralized swap platform Reflex Swap.

Earlier this month, the Bittrex exchange also made it possible to trade the meme cryptocurrency against the U.S. dollar.

Last week, the Dogecoin competitor was also added to the roster of coins offered by Coins.ph, the Philippines-based cryptocurrency exchange owned by former Binance Chief Financial Officer Wei Zhou.

The streak of new listings hasnt contributed to significant price gains. The cryptocurrency is down 86.94% from its all-time high. Shiba Inu has been caught in the bearish downtrend together with other major cryptocurrencies, suffering heavy losses due to the unfavorable macro environment.

Despite its disastrous performance, Shiba Inu is clearly here to stay due to growing adoption. The token has managed to remain among the top 20 biggest cryptocurrencies, currently sitting in 15th place.

The much-hyped metaverse project remains a major bullish catalyst for the Shiba Inu meme coin.

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Shiba Inu (SHIB) Falls by Over 4% as Bitcoin Dips Below $22,000 - U.Today

Ahead of the US Federal Reserves FOMC meeting, Bitcoin, Ethereum, and Ripple prices brace for impact. Bitcoin witnessed an increase in sell-side activity and a retracement in its price after a week of gains. Bitcoins price is at a make-or-break point a decisive move in either direction could define the trend for the asset post the FOMC meeting.

Traders are currently on the fence; however, this is set to change with the news of an interest rate hike, as predicted by experts. Ahead of an anticipated hike, Bitcoin holders are cautious. The July 13 hike by the Federal Reserve triggered a 5% drop in Bitcoin price, and the asset recovered from the decline nearly instantly.

Bitcoin recouped its losses, and a similar reaction is expected from the asset after Wednesdays meeting. The assets run up to $28,000 is threatened by the rate hike.

In the case of the second-largest altcoin XRP, the outlook is bullish. Brad Garlinghouse is optimistic that the payment giant will win the lawsuit. A win could fuel a bullish sentiment and push XRP higher in the long term. XRP could climb to $0.38 if the altcoin sustains above support at $0.34.

Ethereum price faces a hurdle at the $1,700 level, and a drop in momentum could extend the altcoins downtrend. Ethereums price drop below the $1.595 level could affirm a bearish trend reversal in the altcoin. However, a flip above the $1,595 level is a decisive move and could push the altcoin higher.

A daily candlestick close below $1,335 could indicate a breakdown of Ethereums uptrend. This move is likely to invalidate the bullish outlook, and Ethereum could revisit the monthly low at $877.70 this is the maximum pain scenario.

Disclaimer: The views and opinions expressed in this article are solely the authors and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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Bitcoin, Ethereum, and Ripple: Bulls and Bears Battle for Control - CoinQuora - Live Crypto News

In this weeks bite-sized digest of the hottest stories from Bitcoin.com News, a new Finder survey knocks down previous forecasts for ethereums price a notch, with crypto experts predicting lower long-term prices for the asset. Also, India calls on G20 nations to bring cryptocurrencies within the Automatic Exchange of Information framework, billionaire Thomas Peterffy weighs in on investment and the future legality of bitcoin, and SEC Chair Gary Gensler clarifies the U.S. securities watchdogs approach to crypto regulation.

A panel of industry experts has predicted that ethereum will bottom out at $675 before the year-end. They have considerably lowered their ether predictions since the start of 2022 and are now expecting the price of the cryptocurrency to end the year at $1,711 before rising to $5,739 by 2025, and $14,412 by 2030.

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Indias finance minister has called on the G20 countries to bring crypto within the Automatic Exchange of Information framework. More than 100 countries have adopted the Common Reporting Standard under the framework.

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Billionaire Thomas Peterffy, founder of Interactive Brokers, says he plans to buy more bitcoin if the price of the cryptocurrency hits $12K. However, he remains concerned that bitcoin could become worthless or outlawed.

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection, he explained.

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Whats your take on the hottest stories from Bitcoin.com News this week? Be sure to let us know in the comments section below.

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Finder's $675 ETH Prediction, India Calls on G20 Re: Crypto Taxes, Peterffy Concerned BTC Could 'Become Worthless or Outlawed' Bitcoin.com News Week...

If you could hold only a single crypto in your portfolio, what would it be? Most people would probably answer Bitcoin (BTC -3.42%), and for good reason. Bitcoin is not only the best-known and most popular crypto but also often the benchmark to which all other cryptos are compared. In terms of market capitalization, Bitcoin has always loomed far above its rivals.

So, is it possible that Ethereum (ETH -6.23%) might actually be better than Bitcoin as a long-term investment? For years, Ethereum has played second-fiddle to Bitcoin. However, there are several key reasons Ethereum could now be a superior long-term buy. Most importantly, the technological platform powering Ethereum is about to get a major upgrade.

If there is only a single reason to rethink your investment thesis about Ethereum, it has to be the Merge. This is the much-promised moment when the Ethereum blockchain finally converts from a proof-of-work to a proof-of-stake consensus mechanism. In layman's terms, it means that Ethereum will soon be running on a superior technology that will make it possible to do everything on the Ethereum blockchain faster, cheaper, and better.

Image source: Getty Images.

In contrast, Bitcoin remains mired in its energy-intensive, low-throughput, proof-of-work mining technology. By some accounts, the July crypto rally has been driven by optimism about the Merge expected in September, and for good reason.

Which brings us to the second reason Ethereum is a better long-term buy than Bitcoin. Quite simply, there is more real-world utility to Ethereum than Bitcoin. Developers have created non-fungible tokens (NFTs), smart contracts, and decentralized finance (DeFi) protocols, all of which run on top of the Ethereum blockchain. There is an entire ecosystem around Ethereum that doesn't exist with Bitcoin.

Granted, Bitcoin may have more avatars on social media trying to pump it higher, but Ethereum has more developers, entrepreneurs, and IT professionals bringing to life real-world applications. You can use Bitcoin to pay for transactions or sit on it as a long-term store of value, hoping it increases in value as a result of digital scarcity. But due to its underlying technological infrastructure, Bitcoin is much more limited than Ethereum.

And that leads us to the final reason Ethereum is a better long-term play than Bitcoin: The whole investment narrative surrounding Bitcoin is starting to fall apart. Until the market meltdown this year, the basic argument for holding Bitcoin long-term was that it was uncorrelated to traditional investments such as stocks. In other words, even if the overall stock market tanked, Bitcoin wouldn't. In this regard, it would act like "digital gold." It would have intrinsic value when everything else was melting down.

As more investors began to think of Bitcoin as "digital gold," it only made sense that people would want to hold BTC during any crisis or downturn. But what happened during the latest market downturn? Bitcoin fell just like every other cryptocurrency and, in some cases, harder and faster. So some of the allure around Bitcoin as "digital gold" is starting to fade.

At the same time, the shift to a proof-of-stake mechanism as a result of the Merge will transform ETH into a deflationary asset, further increasing its attraction as a possible inflationary hedge. Moreover, due to the way staking works, a growing amount of ETH will be "locked up" and unavailable for trading. This will naturally drive up the price of ETH, based simply on the principle of supply and demand.

As if that weren't enough, a growing number of high-profile companies around the world are building on top of the Ethereum blockchain.Quite simply, due to its flexibility and scalability, Ethereum is becoming the blockchain of choice for large institutions. If Bitcoin is "digital gold," Ethereum is "digital oil." In the long run, Ethereum will be the more valuable crypto because it has more practical uses.

Dominic Basulto has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

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Why Ethereum Is a Better Long-Term Buy Than Bitcoin - The Motley Fool