Connect with us

Published

on

Loading… Loading…

Major cryptocurrencies traded mixed on Thursday, with Bitcoin and Ethereum taking a breather, signaling the onset of the profit-taking season.CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EST)Bitcoin BTC/USD -0.28%$61,199Ethereum ETH/USD -1.21%$3,375Dogecoin DOGE/USD +6.91%$0.12

What Happened: Bitcoin skyrocketed by 44% in February, surging past the $50,000 and $60,000 milestones for the first time in years, and reaching $64,000 on Wednesday.

In the last 24 hours, 114,440 traders faced liquidation, resulting in a total of $339.26 million in liquidated assets. The most significant liquidation occurred on Bitmex, involving the DOGE-USD with a value of $5.87 million.

CoinGlass data reveals that BTC longs amounting to $56 million were liquidated, and an additional $34 million in long positions were impacted during the same period.

The trading frenzy for U.S.-listed spot Bitcoin ETFs continued on Thursday, following the largest single-day net inflow on Wednesday. BlackRocks IBIT IBIT , which ranks second in asset total among Bitcoin ETFs, maintained its position in the top 10 most-traded ETFs in the US by midday on Thursday. Barchart data revealed that it recorded over $1 billion in trading volume for the fourth consecutive day.

Top Gainers (24 Hour)CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Fetch.Ai FET/USD +21.30%$1.59Bit Torrent BTT/USD +13.00%$0.000001259UNUS SED LEO LEO/USD +11.22%$4.79

The global cryptocurrency market cap now stands at $2.32 trillion, showing a 5.76% increase in the past 24 hours.Loading… Loading…

The Nasdaq Composite surged on Thursday, reaching its first record high since November 2021. It soared 0.90% to close at 16,091.92, buoyed by the rally of tech stocks and chips at the end of the trading day.

Simultaneously, the S&P 500 also climbed 0.52% to conclude at 5,096.27. Meanwhile, the Dow Jones Industrial Average edged up by 0.12% to 38,996.39.

Economic data released on Thursday revealed that the Federal Reserves preferred measure of inflation remained persistently above the central banks target in January, although it did not surpass Wall Streets expectations. Additionally, there were indications of robust consumer spending.

The core personal consumption expenditures price index, the Federal Reserves favored inflation metric, rose by 0.4% for the month and 2.8% from a year earlier, aligning with Dow Jones estimates. The headline PCE, which encompasses food and energy categories, increased by 0.3% monthly and 2.4% annually, in line with respective forecasts for 0.3% and 2.4%.

On Thursday, crypto mining companies including Marathon Digital experienced a 15% decline, Riot Platforms saw a 10% drop. CleanSpark and Cipher Mining were down by 9% and 8% respectively, and Iris Energy retreated by 3%.

See More: Best Cryptocurrency Scanners

Analyst Notes: Cryptocurrency analyst Michael Van de Poppe said the market capitalization of altcoins is gradually ascending, indicating positive movement.

"The upside could be captured on Bitcoin, meaning a rotation towards altcoins. Therefore, Ethereum to $4,500-5,000 is likely, while altcoins will accelerate with 2-4x returns."

The analysts prediction for BTC suggests that in the event of a pullback, Bitcoin could potentially drop to as low as $46,000.

"Bitcoin manages to reach a $670 million net inflow. Mostly, this is coming through Blackrock's ETF (exchange-traded fund) and interest. The price is $62,600, with insanely strong movements before the halving. What to look for? If a correction happens, I aim at $46,000 or $53,000 for longs."

Analyst Tony Sycamore from the IG Markets brokerage firm, said, "Momentum in Bitcoin points to a test and possible breakout of $69,000. This will push Bitcoin beyond the record high of $69,000 set in the heady days of crypto peaks in November 2021."

Alex Thorn, head of firmwide research at Galaxy, expressed a bullish outlook, stating, We havent even begun to reach the heights this is likely to go. Thorn emphasized the potential impact of U.S. spot Bitcoin ETFs, referring to them as a game changer that would generate consistent and rapidly growing demand for BTC.

On-chain analyst Ali Martinez said that TD Sequential is signaling a sell alert on the 4-hour chart for Bitcoin. TD Sequential is a technical analysis indicator used to predict potential price exhaustion and trend reversals in the crypto market. It consists of a series of counts, typically up to 9 and 13, to identify buy and sell signals.

"Since Feb 15, every sell signal from this indicator has been spot-on, leading to $BTC price corrections between 1.50% and 4.20%. This is a pattern worth noting for traders eyeing short-term movements!"

Read Next: Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter UsersLoading… Loading…

Continue Reading

Sports

Sources: Red Sox deal Devers to Giants in stunner

Published

on

By

Sources: Red Sox deal Devers to Giants in stunner

The San Francisco Giants are acquiring All-Star slugger Rafael Devers from the Boston Red Sox, sources confirmed to ESPN’s Jeff Passan on Sunday evening.

The Giants are sending starter Jordan Hicks and 23-year-old lefty Kyle Harrison, among others, to Boston in exchange, sources said.

Devers, 28, is in just the second season of a 10-year, $313.5 million contract he signed to stay in Boston in January 2023, however his relationship with the team suffered a significant blow after the star third baseman was reportedly blindsided by a move to designated hitter in the spring.

Tensions flared again last month after Devers refused an offer from the team to move him to first base after starting first baseman Triston Casas was ruled out for the season with a knee injury.

It reached a point where Red Sox owner John Henry met with the disgruntled star, making a rare trip to meet the team on the road and smooth things over after Devers’ pointed comments about the request to switch positions again.

Hicks and Harrison give a pitching-starved Red Sox team more depth on their staff while Devers provides a huge boost to a middling Giants offense.

Devers has more than 200 career home runs to his name and has a .894 OPS for Boston this season.

The deal was first reported by Fansided.

Continue Reading

Sports

Ohtani’s pitching return might be coming soon

Published

on

By

Ohtani's pitching return might be coming soon

Shohei Ohtani‘s pitching debut for the Los Angeles Dodgers might be quickly approaching.

Manager Dave Roberts told reporters Sunday that Ohtani would throw another simulated game in the coming days that could “potentially” be his last one, and a source told ESPN’s Buster Olney that Ohtani should join the Dodgers’ rotation “sooner rather than later,” potentially within the week.

Ohtani took a big step forward during his most recent simulated game at Petco Park on Tuesday, throwing 44 pitches over the course of three innings against a couple of lower-level minor league players. Ohtani’s fastball reached the mid- to upper-90s, and he exhibited good command of his off-speed pitches in what amounted to his third time facing hitters. Afterward, Roberts said there was a “north of zero” chance Ohtani could join the rotation before the All-Star break.

Because of his two-way designation, the Dodgers can carry Ohtani as an extra pitcher, which means he can throw two to three innings and have someone pitch after him as a piggyback starter. At this point, it seems that is the Dodgers’ plan.

The Dodgers’ pitching staff has again been plagued by injury, with 14 pitchers on the injured list, including four starting pitchers the team was heavily counting on for 2025 — Blake Snell, Tony Gonsolin, Roki Sasaki and Tyler Glasnow.

If Ohtani returns in July — the likely outcome at this point — he will be 22 months removed from a second repair of his ulnar collateral ligament.

The update isn’t as optimistic for Sasaki. He paused his throwing program and is set for a lengthy layoff. Sasaki has not pitched in a game since May 9 and is not part of the team’s long-term pitching plans this season.

“I think that’s what the mindset should be,” Roberts said. “Being thrust into this environment certainly was a big undertaking for him, and now you layer in the health part and the fact he’s a starting pitcher, knowing what the build-up [required to return] entails … I think that’s the prudent way to go about it.”

Sasaki, 23, went 1-1 with a 4.72 ERA in eight starts after joining the Dodgers from the Pacific League’s Chuba Lotte Marines, averaging less than 4⅓ innings per start. He walked 22 and struck out 24 in 34⅓ innings, and his fastball averaged 95.7 mph, down 3-4 mph from his average in Japan.

Roberts said Sasaki was pain free when he resumed throwing in early June, but the pitcher was shut down after feeling discomfort this past week. Sasaki recently received a cortisone injection in the shoulder; Roberts said no further scans are planned.

“I don’t think it’s pain,” Roberts said. “I don’t know if it’s discomfort, if it’s tightness, if he’s just not feeling strong, whatever the adjective you want to use. That’s more of a question for Roki, as far as the sensation he’s feeling.

“He’s just not feeling like he can ramp it up, and we’re not going to push him to do something he doesn’t feel good about right now.”

The Associated Press contributed to this report.

Continue Reading

Sports

Judge 1-for-12 as NY swept: Got to swing at strikes

Published

on

By

Judge 1-for-12 as NY swept: Got to swing at strikes

BOSTON — Aaron Judge blamed himself for swinging at pitches outside the strike zone as the New York Yankees were swept in a three-game series against the Boston Red Sox.

“You got to swing at strikes,” Judge said after going 1-for-12 in the series, which Boston completed with a 2-0 victory on Sunday.

Judge struck out three or more times in three straight games for only the third time in his major league career.

“That usually helps any hitter when you swing at strikes,” Judge added. “Definitely some pitches off the edge or off the edge in, you know, taking some hacks just trying to make something happen.”

Judge had a tying solo homer in the opener Friday night but struck out nine times as the Yankees were swept in a series for the first time this season.

New York scored only four runs in the three games, matching its fewest in a three-game series at Fenway Park, on June 20-22, 1916 and on Sept. 28-30, 1922.

“It’s very hard,” Red Sox manager Alex Cora said of facing Judge. “He’s so good at what he does. We used our fastballs in the right spots, we got some swing and misses.”

“Throughout the years we’ve been aggressive with him,” Cora added. “Sometimes he gets us, sometimes we do a good job with that. It’s always fun to compete against the best, and, to me, he’s the best in the business right now.”

Judge’s major league-leading average dipped to .378.

“I don’t think much of it,” teammate Ben Rice said. “If I could have that guy hitting every single at-bat even if he’s not at his best, I would do it. I’m sure he’ll bounce back. He’ll be all right.”

Judge faced Garrett Whitlock with two on in the eighth Sunday and bounced into an inning-ending double play.

“He’s one of the greatest hitters in the world,” Whitlock said. “It’s special to watch him play and everything. We tried to execute and had some execution this weekend.”

Continue Reading

Trending