Based on the most recent figures, non-fungible tokens (NFTs) generated approximately $474 million in sales throughout May, marking a 21.25% decline compared to April’s total. NFT Market Declines in May NFT sales maintained their downward trajectory in May, with monthly figures falling short by $127.9 million compared to the prior month. Although the number of […]

NFT Market Slips in May Despite Buyer Growth and Gains From Bitcoin, Avalanche

The Bitcoin price is still ping-ponging between support and resistance, but is 
still moving in favor of the bulls at this point. This is due to the fact that 
the price is still holding well above $100,000, and this is a psychological 
level that could be a determinant of a bull or bear move. Amid this, crypto 
analyst Xanrox believes that the Bitcoin price is headed down after hitting 
its new all-time high close to $112,000, and this downtrend would push 
altcoins down further. Why The Bitcoin Price Is Breaking Down The reason for 
the Bitcoin price decline, as outlined by the crypto analyst, is that the 
leading cryptocurrency is actually breaking down out of an ascending parallel 
channel that was formed while the price moved from $74,000 to $112,000. This 
was seen in the initial downtrend that sent Bitcoin from $111,000 down to 
$103,000, before the relief rally. Related Reading: Wave Count Analysis 
Reveals The XRP Price Trigger Point For Take-Off In addition to the ascending 
channel, the crypto analyst also points out the formation of a symmetrical 
triangle inside the channel. This is also important to keep an eye on since 
symmetrical triangles are known for sweeping liquidity. While these liquidity 
sweeps are not one-sided, it is still notable as it can sweep liquidity above 
and below the triangle. Probabilities of the direction of the liquidity sweep 
increase in a direction depending on whether the bears or bulls are currently 
dominating. Xanrox also explains that the Bitcoin price has already completed 
the five full waves of the Elliot Wave theory, and as such, the next thing is 
a corrective ABC wave. In this case, it is expected to fall back to the 0.382, 
0.500, and 0.618 Fibonacci levels again. Where To Start Buying With the 
expectation that the Fibonacci levels will fall to 0.382, then 0.500, and then 
0.618, the first culprit for where the Bitcoin price is expected to fall to is 
just below $98,000. At this level, the crypto analyst believes that it is time 
to start buying. In addition to the chart formations, Xanrox also calls out an 
unfilled Fair Value Gap (FV) at this level, and once it fills, it is a great 
level to start buying before the next wave to the upside. Related Reading: 
Ethereum Price At $8,000: Pundit Predicts Parabolic Run For ETH If this 
decline does happen, then altcoins are expected to actually fall further from 
here. This would put them at great buy levels as well, especially as altcoins 
are sitting so close to all-time low levels. However, after the first FVG is 
filled and there isn’t strong momentum, the second Fibonacci level at 0.500 
puts the Bitcoin price at $92,000. Meanwhile, the third and last Fibonacaill 
level at 0.618 puts it as low as $87,500. “Usually we want to look for a 
buying opportunity at the 0.382, 0.500, or 0.618 FIB levels,” the crypto 
analyst explained. Featured image from Dall.E, chart from TradingView.com

Major Bitcoin Price Drop Alert: Crash To $98,000 To Fuel Altcoin Buying Opportunity

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The China-based Webus International company is advancing its XRP treasury 
strategy with its latest filing to the Securities and Exchange Commission. A 
June 3 document shared by XRP lawyer Bill Morgan has revealed a form 6-K 
filing by the Chinese AI-powered…

China’s Webus International advances $300M XRP treasury plan with SEC filing

Since the IBIT ETF futures are only available to accredited investors at this 
time, many retail investors are unimpressed by the latest crypto developments 
in Russia.

BlackRock’s Bitcoin ETF futures debut in Moscow as fund hits top 25

Spanish coffee chain has announced plans to become a Bitcoin-first business, 
in hopes to reinvigorate its stock price.