Currency Forecast

Charles Edwards, founder of Capriole Investments, has noticed a disturbing trend-one that echoes the grim sounds of panic among Bitcoin investors. The “OG” Bitcoin whales (those who’ve held their precious BTC for over seven years) are now cashing out like they’ve just seen a new, shinier coin. He posted about it on the platform formerly known as Twitter-now called X, because why not complicate things even further? Anyway, Edwards shared a chart showing these whales offloading their BTC. And, let me tell you, it’s a spectacle.

Indeed, SUI has soared to $2.08 over the past day, shattering a significant resistance level, while the rest of the crypto world gracefully treads water or finds itself slipping. It is as if SUI has donned a cape and taken flight, while its peers remain grounded.

In fact, Bayberry’s report dares to compare XRP’s humble current phase to the early days of the internet – you know, when everyone was so busy marveling at the flashy things that they missed the real groundwork being laid. It’s the quiet, invisible stuff that makes the whole system tick, but alas, no one notices until the price starts to zoom. Meanwhile, Ripple’s CEO, Brad Garlinghouse, is over here stressing how XRP’s actually handling some pretty serious settlement duties. But who’s listening? Anyone? Hello? 🖐️

The decentralized exchange (DEX) and automated market maker (AMM) investigated what appeared to be faulty access control in its smart contracts, which allowed the attackers to withdraw funds directly from liquidity pools. It’s like having a treasure chest with a lock that’s been left open. 🔐💀

The downfall began, as all tragedies do, with a whisper. Technical fissures appeared across the charts, as subtle as a yawn in a silent theater. Bitcoin, once soaring above $103,000 like a proud eagle, now flutters downward, threatening to breach the $100,000 mark. Oh, the humiliation! The DeFi Report, ever the harbinger of doom, declares that while the rally looks splendid on parchment, the reality is as grim as a winter in Siberia. Below the 50, 100, and 200-day moving averages it sinks, like a stone in the Volga. These averages, once stalwart supporters, now turn their backs, signaling a fading bullish spirit. 😢📉

Bitcoin tumbled below $100,000 like a drunk man off a barstool, and might revisit its yearly open at $93,500-momentum’s as weak as a politician’s promise. 🥴

So, Mike Novogratz, the CEO of Galaxy (not the chocolate bar, sadly), has some thoughts on the crypto market. Apparently, it’s as sluggish as a Monday morning without coffee. ☕😴 Long-term holders are reallocating assets like they’re Marie Kondo-ing their portfolios. After a wild bull run, everyone’s diversifying because, you know, balance. 🧘♂️ But here’s the kicker: this is actually a good thing in the long run. Short term? It’s like throwing a wet blanket on a party. 🎉💦

SHIB’s been feeling a little adventurous. Despite everyone else plummeting into despair, it’s managed to creep up by a measly 1.77% over the past 24 hours. Oh, the excitement! 🤑

The Facts

According to a survey by the Alternative Investment Management Association (AIMA) – a group of people who probably wear very expensive glasses and say words like “synergy” a lot – this is an 8% jump from last year. Progress, folks! Or is it just a fancy way of saying they’re chasing the next shiny thing? 🕶️💡