Market analyst, the sagacious Gareth Soloway, has, with the keen eye of a Tolstoyan observer, issued a fresh and rather grave analysis. Both Bitcoin and Ethereum have now reached what Soloway deems critical support levels-perhaps as crucial to their future as family ties and inheritance were to the luminaries of yesteryear’s Russian socialite circles.
The much-bemoaned deflation in prices only poked their collective ego further, causing the assets under these digital asset ETPs to shrink by one in four, down from their jubilant 264 billion dollar high in early-October to a paltry 191 billion. It was a sight akin to watching the stocks of a magnificent mansion crumble to reveal its dilapidated foundations. 🏠😓
If Ethereum had emotions, it might be crying into a pillow made of pennies right now. After a valiant but ultimately feeble attempt to cling to the “$3,150 emotional support level,” ETH has decided to moonwalk all the way to the discount bin. With a -5% performance that could make a used-car salesman blush, the coin is now trying to flirt with the “$3,200 upper middle management” zone. Yikes.
Ah, Bitcoin, the once-mighty king of the crypto jungle, now wobbling like a toothless tiger. It couldn’t even hold its ground above the $93,500 pivot level-those pesky bears had their way, pushing it lower than a worm on a rainy day. 🐻🌧️
This little wobble happened to coincide with the regular markets doing their own version of a panic attack. Apparently, everyone’s a bit gloomy. Who knew?
As pointed out by the ever-persistent More Crypto Online, Ethereum’s MACD has plunged into what can only be described as a “historically oversold” zone. I mean, sure, the MACD doesn’t have a fixed threshold for being “oversold,” but comparing it to past cycles gives us the juicy context we crave. Historically, ETH has formed significant bottoms when the MACD dips into the -210 to -220 range. We’ve seen this happen a few times, but it’s not exactly your regular Tuesday morning occurrence. The current MACD? Oh, it’s right in that sweet spot, making this as rare as a unicorn at a cryptocurrency convention.
According to a Monday blog post, the Aave App will offer 5% to 9% APY-real-time interest tracking, because who doesn’t want to watch their money grow while sipping tea and wondering if it’s a mirage? 🕒
The proposal marks a sharp departure from the oversight structure established under the landmark Markets in Crypto-Assets (MiCA) framework and could introduce significant legal uncertainty. Welcome to the EU’s version of “Let’s All Be Bureaucrats.” 🤯
