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Bitcoin Remains Above $65k—What’s Next For The Cryptocurrency?

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Bitcoin Remains Above $65k—What’s Next For The Cryptocurrency?

Bitcoin prices have maintained their strength over the last 24 hours, retaining the vast majority of the gains that materialized during the cryptocurrency’s latest rally.

The world’s largest digital currency by total market capitalization was trading above $65,000 at the time of this writing, according to CoinMarketCap data.

The digital asset held that value after rallying more than 8% in under 24 hours, reaching its highest since approximately April 24 and then extending those gains, additional CoinMarketCap figures show.

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Focusing in on bitcoin’s short-term outlook, several market observers highlighted key fundamental developments that could impact the digital asset’s price, in addition to singling out price levels that could provide key support or resistance.

Brett Sifling, an investment advisor for Gerber Kawasaki Wealth & Investment Management, offered some input on this situation.

“Bitcoin remains range bound since the end of February, as the halving event wasn’t enough to push it to new highs,” he stated via emailed comments.

“I don’t see any other major catalysts on the horizon, other than increased institutional adoption. There is also the potential for the Fed to lower rates later this year, which could bring increased optimism for risk-on assets like Bitcoin,” said Sifling, referring to the federal funds rate, which is controlled by Federal Reserve policymakers.

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The decisions of the Federal Open Market Committee have generated quite a bit of visibility over the last few years, as these government officials pushed the fed funds rate, which has an impact on broader borrowing costs, to its highest level since 2008.

This, in turn, has provided a significant headwind for economic activity, but inflation data has remained stubbornly high at many points in spite of high borrowing costs.

Yesterday, headline inflation figures that fell short of economist estimates were cited as a catalyst that helped bitcoin prices rally. This development was credited with helping provide investors with greater hopes that the Fed will cut rates soon.

Technical Analysis

As for the key price levels that technical traders should monitor going forward, Sifling offered some guidance.

“The recent all-time highs in March of around ~$74,000 is a key level to watch, as well as the lows of this recent range at ~$56,500,” he stated.

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Grant Tungate, head of business development for Blockforce Capital, also shed some light on this matter.

“I don’t want to make any predictions but I’ll provide some commentary on levels I believe are important,” he said via email.

“Key levels are the new 30d high ~$67.3k, then the all time high ~$74k. On the downside the 30d low ~$57k is an important zone,” Tungate added, pinpointing figures similar to those identified by Sifling.

Armando Aguilar, an independent cryptocurrency analyst, also offered some input on this subject.

“The next critical support level for BTC holds in the high $62k range, if BTC struggles to maintain these levels it could retest low $61k range,” he stated.

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“The resistance levels for BTC are in the mid $66k which if breached, we could see the blue chip cryptocurrency cruise to mid/high $68k,” Aguilar added.

“The ATH does provide a key resistance level which would require BTC inflows to pick up as it was the case for the first 2 months since launch. Don’t immediately see levels passing ATH as most custodians have reached maximum distribution capacity thus seeing low inflows into BTC,” he concluded.

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether, EOS and sol.

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5 New Binance & Coinbase Cryptocurrency Listings to Watch

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5 New Binance & Coinbase Cryptocurrency Listings to Watch

Exchange listings on platforms like Binance and Coinbase can offer a fast-track approach to massive cryptocurrency gains.

As such, this article delves into five tokens that could be listed on these exchanges next. This analysis considers the platforms’ listing criteria and previous listings. Let’s get started.

Dogeverse

Our top pick of cryptocurrencies that could get listed on Binance and Coinbase is Dogeverse. This project is seeing massive early interest, and big exchanges will want a slice of the action.

Dogeverse is a multi-chain meme coin available on Ethereum, Solana, Base, Avalanche, BSC, and Polygon.

It is currently undergoing a presale, where it has raised a whopping $15 million.

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This total raise reflects steadfast community interest fueled by its unprecedented use case and robust tokenomics. Indeed, solid tokenomics is another factor Binance and Coinbase look for in new listings.

While Dogeverse is a meme coin, the team vies for long-term potential with a staking mechanism that rewards users for locking up their tokens. A 53% APY is currently at play, but this will decrease as the staking pool grows.

With the Dogeverse presale in its closing stages, market participants have a final chance to buy before the token launches on exchanges.

Visit Dogeverse Presale

Pepe

The next token primed for a tier-one exchange listing is Pepe. While the project was listed on Binance in 2023, it has yet to be listed on Coinbase.

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That said, Coinbase has listed the token for perpetual futures trading on its institutional-focused arm, Coinbase International Exchange.

Meanwhile, Pepe has enjoyed a meteoric rise in recent weeks. As such, analysts anticipate a listing on Coinbase’s main platform is looming. This was highlighted by popular meme coin trader Davie Satoshi, who wrote:

“What is Coinbase waiting for? PEPE is about to crack the top 20, and look at who’s right in front of its path! Polygon, Litecoin, Chainlink, etc. Pepe is no longer a joke. It’s very, very real.”

Pepe has also displayed relative strength against other large-cap meme coins like Dogecoin and Shiba Inu recently, both of which are listed on Coinbase.

Sealana

Sealana is a new Solana meme coin currently undergoing a presale. The project’s momentum is exponentially ramping up, suggesting that tier-one exchanges may take note as it nears its IEO.

Sealana follows a blueprint similar to earlier Solana presale sensations like Book of Meme and Slerf, which broke records following their exchange launches.

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BOME became the fastest meme coin to a $1 billion market cap and received a Binance listing within two days of launching. It’s also worth noting that Sealana has outperformed BOME’s presale, with Sealana raising $2.5 million, while BOME raised $2 million.

Sealana also features a witty back story about Seal, who lives in his mom’s basement and trades meme coins with hopes of getting rich and buying a Lambo.

This perfectly encapsulates the degen spirit of the Solana meme coin community, so it is no surprise that its presale is being so well received.

Visit Sealana Presale

Bittensor

Another heavyweight listing to watch is Bittensor. This project is a leading AI blockchain, and it is often regarded as one of crypto’s most robust innovations outside of Bitcoin.

The token has just recently secured a listing on Binance, indicating that Coinbase may also list it shortly.

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This is amplified by Coinbase’s Director Conor Grogan acknowledging Bittensor as part of “ one of the first legitimate collaborations” between a crypto project and AI.

Furthering its case for a Coinbase listing, Bittensor’s price is soaring today as GPU manufacturer Nvidia reports earnings above expectations. This sets a bullish precedent for AI projects and could increase Coinbase’s interest.

WienerAI

Another AI cryptocurrency set to make a name on tier-one exchanges is WienerAI. This project is a unique hybrid of AI crypto and meme coin, extrapolating the best of both worlds for massive product and community potential.

The project’s presale is ongoing and has raised $2.7 million so far. It is currently priced at $0.00071, but this will rise throughout the campaign, with the next increase in two days.

WienerAI ushers in a novel concept of a trading bot that users can ask questions to, and it will scour the market for the best buying opportunities.

It also solves the user experience issues of on-chain transacting with free, instant, MEV-resistant, and noob-friendly trade execution directly from the project’s dApp.

This establishes a robust use case, fixed between two of crypto’s hottest trends. Factoring in its momentous early success, big cryptocurrency exchanges could well be interested in this project.

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Visit WienerAI Presale

DISCLAIMER: THIS IS A SPONSORED POST

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Cryptocurrency: Top 3 Memecoins Predicted to Explode in June

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Cryptocurrency: Top 3 Memecoins Predicted to Explode in June

After a significant rally yesterday, the cryptocurrency market seems to be cooling off once again. Bitcoin (BTC) has fallen to the $69,000 mark, while the global market cap has dropped to $2.72 trillion. The rally was fuelled by positive movements in the spot Ethereum (ETH) ETF (Exchange Traded Fund) debate. The SEC (Securities and Exchange Commission) asked exchanges interested in the ETF to update their 19b-4 filings. However, the move did not mean an outright approval, leading to a market correction.

Despite the slight correction, we may witness a few assets explode over the next few weeks.

Top 3 meme cryptocurrencies that could explode in June 2024

Pepe (PEPE):

Source: Outlook India

Pepe is among the best-performing crypto assets over the last year. The frog-themed memecoin hit an all-time high of $0.00001441 on Thursday, May 23, 2024. However, analysts anticipate the memecoin to continue its bullish trajectory for the next few weeks at least.

Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs In June 2024

According to CoinCodex, PEPE could surge to $0.00004858 on June 20, 2024. Reaching $0.00004858 from current levels would translate to a growth of about 242.3%.

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Source: CoinCodex

Changelly also predicts that PEPE will continue its rally in June. The platform anticipates the cryptocurrency to hit a new all-time high of $0.00003749 on June 18, 2024.

dogwifhat (WIF):

dogwifhat
Source – Biztech Africa

WIF is another cryptocurrency that has displayed stellar growth over the last few months. The Solana-based memecoin reached an all-time high of $4.83 on Mar. 31, 2024. However, CoinCodex predicts WIF to surpass the $10 mark next month. The platform anticipates WIF to hit $10.03 on June 19, 2024. Reaching $10.03 from current levels would translate to a growth of about 235.45%.

Source: CoinCodex

Shiba Inu (SHIB):

shiba inu shib eclipseshiba inu shib eclipse
Source: Twitter

Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. The dog-themed crypto witnessed a massive price spike in March, following BTC’s climb to a new all-time high. However, SHIB’s price has struggled to gain momentum over the last few weeks.

Also Read: Shiba Inu: Top 3 Things That Can Take SHIB To $0.001

According to CoinCodex, SHIB could surge to a new all-time high of $0.00008625 on June 20, 2024. Reaching $0.00008625 from current levels would translate to a growth of about 239.1%.

Source: CoinCodex
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Telstra cuts 2,800 jobs as AI takes over

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Telstra cuts 2,800 jobs as AI takes over

Telstra is set to cut 2,800 employees from its workforce. Photo: Shutterstock

Up to 2,800 Telstra workers will be retrenched by year’s end, with Australia’s largest telecommunications carrier announcing plans to pare its workforce in an AI-driven “reset” of its enterprise arm including an overhaul of its Telstra Purple services business.

The package of reforms is designed to contribute to $350 million in cost savings as the company overhauls Telstra Enterprise – the company’s business-focused service arm that includes its Data & Connectivity business and Telstra Purple consulting arm – to “sharpen its focus on areas where it has the strongest differentiation, further improve delivery for customers and improve the cost base of the business,” the company explained in an ASX filing.

The job cuts – which will require consultation with employees and unions and come days after Telstra’s last enterprise bargaining negotiations with the Communications Workers Union (CWU) – are intended to help streamline the company’s enterprise product portfolio through measures including cutting the number of products in its Network Applications and Services (NAS) arm by “close to” two-thirds.

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Telstra will also simplify its customer sales and service model “to better support customers”, the company said, and will “reduce the cost base” of its Telstra Purple technology services business – a euphemism for staff cuts in that people-focused business, which last October added over 500 employees with the $267.5 million acquisition of Melbourne based cloud firm Versent.

Telstra Purple is the company’s digital transformation consulting arm, with more than 2,000 certified local experts offering a range of services across network, data and AI, cyber security, Internet of Things (IoT), software development, cloud, and workplace collaboration.

The changes mark a significant step after a review of the Enterprise business that was flagged in February during Telstra’s latest half year results briefing, when CEO Vicki Brady said Telstra was “being challenged by cost pressure” and revealed that the NAS business would undergo a full review because it was “a long way from where we need it to be.”

Many believe that the company’s successful addition of artificial intelligence (AI) has facilitated some of the cutbacks, with AI now being used to improve half of Telstra’s key processes – including automatically detecting and resolving faults with fixed services, and helping “solve customer issues faster”.

Replacing employees with AI is a “cheap, sinister move that will worsen its already disgraceful customer service standards,” Macquarie Telecom group executive Luke Clifton said after the cuts were announced.

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“Telstra doesn’t believe in its staff or its customers,” Clifton said. “It has outsourced staff overseas and now, rather than taking the lead on investing in AI to support staff and create better technologies for customers, it’s trying to replace them with artificial intelligence.”

Tough measures for tough times

The CWU’s latest negotiations included demands for “fair and transparent” performance ratings and fixed and guaranteed pay increases – a change from what the union called “Telstra’s discriminatory approach of linking wage outcomes to metrics and outcomes outside of employee control.”

Whether the cuts are a direct response to the negotiations is not clear, but the CWU warned that the cuts will be a “disaster for workers and customers”.

“You can’t axe 2,800 jobs and not expect it to have an impact on service delivery,” national assistant secretary James Perkins said, warning that they “will have a devastating impact on services.”

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Telstra is already grappling with after recent complaint figures showed it was struggling to maintain service standards.

The changes are just the beginning of the review of Telstra Enterprise, the company said, with Brady promising that the company “will support” retrenched workers “through this change with care and transparency”.

Consultation on 377 Telstra Enterprise roles will begin “immediately”, the company said, “mainly from areas supporting the products and services to be exited in Enterprise.”

The company – which has previously flagged the need to explore new opportunities – will also move its Global Business Services function into other parts of the business as it works through the detail of changes that are expected to deliver $350 million of the company’s T25 cost reduction strategy by the end of next year.

The restructuring efforts will cost Telstra $200 to $250 million over the next two financial years.

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Telstra also announced that it will update the terms for its postpaid mobile plans to remove its CPI-linked annual price review – potentially stabilising prices that are currently set to rise with annual CPI inflation that was recently pegged at 3.6 per cent.

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