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cointelegraph.com Mar 23, 2025 16:30

Bitcoin in position for first key RSI breakout in 6 months at $85K - Bitcoin (BTC) circled $85,000 into the March 23 weekly close as excitement over a key trend change brewed.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin price meets decisive RSI setupData from Cointelegraph Markets Pro and TradingView showed BTC/USD finding strength during weekend trading.Up 1.5% on the day, Bitcoin edged higher as part of a broad crypto market uptick, which also lifted various major altcoins.“I think this next week will be telling where the market wants to head for the next higher timeframe move,” popular trader Daan Crypto Trades wrote in part of his latest X analysis, noting the closing position of CME Group’s Bitcoin futures.BTC/USD 15-minute chart. Source: Daan Crypto Trades/XThe post echoed the broader market sentiment as traders eyed the potential for a fresh push higher into the monthly close.Popular trader and analyst Rekt Capital reiterated encouraging breakout signs on daily timeframes for Bitcoin’s relative strength index (RSI).“The Daily RSI is showcasing early signs of retesting the Downtrend dating back to November 2024 as new support,” he reported.BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XFor fellow analyst Matthew Hyland, however, current price levels held deeper significance.For the first time in six months, he revealed on the day that BTC/USD was about to seal a key bullish RSI divergence on weekly timeframes.“BTC can make weekly bullish divergence for the first time since September tonight,” he confirmed on X.“Currently in position.”BTC/USD 1-week chart with RSI data. Source: Matthew Hyland/XBull market to return in “a couple of weeks?”Elsewhere, trading team Stockmoney Lizards shrugged off the idea that Bitcoin risked entering a long-term bear market.Related: Here’s why Bitcoin price can’t go higher than $87.5KThe local bottom, it told X followers in its latest market analysis, lay at $76,000 — a level already revisited earlier this month.“While many are panicking and declaring a bear market, the long-term trend channel (green lines) remains firmly intact,” it summarized alongside a chart showing BTC price fluctuations around an average trend line during bull markets. “This correction doesnt invalidate the uptrend - it confirms it.”BTC/USD 1-week chart. Source: Stockmoney Lizards/XStockmoney Lizards acknowledged that upside continuation may take some time.“This test doesnt guarantee an immediate pump, but history indicates were approaching a bottoming zone,” it concluded.“How long does this take? Well, nobody knows. These days, news, macroeconomic signals etc. can determine the duration of our correction. Educated guess: a couple of weeks.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 88%
cointelegraph.com Mar 23, 2025 21:00

Cathie Wood to kick off El Salvadors AI public education program - Cathie Wood, founder of the Ark Invest investment firm, will give the inaugural lecture for El Salvadors new Urban Centers for Welfare and Opportunities (CUBO) AI program, a public education initiative spearheaded by the government of El Salvador.According to El Salvadors Bitcoin Office, the program will bring university-level AI courses to students and professionals and follows the countrys highly successful CUBO Bitcoin (BTC) and Lightning Network developer program.The program will leverage industry experts to provide AI education to the public. El Salvadors Bitcoin Office wrote in a March 23 X post:As El Salvador turbocharges its transformation into the ultimate tech and financial powerhouse of the region, CUBO AI will arm students and professionals in the country with the tools to dominate the AI frontier.El Salvador continues to attract crypto businesses and foreign direct investment as the Central American country positions itself as a regional tech and digital finance hub.Cathie Wood pictured left, with El Salvador’s President Nayib Bukele in the center, and economist Art Laffer, on the right, meet in May 2024. Source: El Salvador’s Bitcoin OfficeRelated: El Salvador acquired over 13 BTC since March 1, despite IMF dealEl Salvador becoming a regional tech hub amid education and investment pushEl Salvador has taken several steps to establish itself as a regional hub for innovation, including integrating Bitcoin classes into public education, leveraging geothermal energy to mine BTC, and passing pro-crypto and AI policies.Cathie Wood met with El Salvadors President Nayib Bukele in May 2024 to discuss the future of digital assets and AI policy in the Central American country, including potential education initiatives tailored by Ark Invest.Wood left the meeting confident that El Salvador could increase its gross domestic product (GDP) tenfold over the next five years if it continues pursuing its tech-focused agenda.The President could scale El Salvadors GDP 10-fold during his next 5-year term, Wood wrote in a May 2024 X post and praised Bukele as forward-thinking.Bukele also met with Elon Musk in September 2024 to discuss artificial intelligence and other 21st-century technologies, including crypto.Musk likewise praised Bukele as “an amazing leader,” and the two continue to build rapport that could potentially lead to collaboration between the businessman and the government of El Salvador.Magazine: El Salvador’s national Bitcoin chief has been orange-pilling Argentina

FOMO: 88%
cointelegraph.com Mar 24, 2025 02:55

Bitcoin bottom forming as Fed eases, Trump softens on tariffs: Analyst - Bitcoin may have bottomed and could rebound toward $90,000 after US President Donald Trump signaled a willingness to ease tariffs and the Federal Reserve resisted short-term pressure last week, according to a crypto analyst.“Bitcoin is attempting to form a bottom, supported by Trump’s recent shift toward ‘flexibility’ on the upcoming April 2 reciprocal tariffs, softening his earlier rhetoric,” 10x Research’s founder Markus Thielen said in a March 23 report.The Federal Reserve signaled in its March 18-19 meeting that it would also “look past short-term inflationary pressures, laying the groundwork for potential future easing,” Thielen added.“Powell’s mildly dovish tone suggests that the Feds put remains intact, providing further support for a recovery in stock prices.”10x Research’s Bitcoin reversal indicators have turned bullish as a result, with Bitcoin’s (BTC) 21-day moving average now at $85,200, Thielen noted.Bitcoin’s bottoming formations over the last two years. Source: 10x ResearchHe said these weekly reversal indicators have pulled back to levels where past bull markets have resumed, such as in September 2023 — spurred on by the Bitcoin exchange-traded fund narrative — and August 2024 as the US election neared.“In short, the technical backdrop has now reset to a point where a renewed uptrend could plausibly unfold.”Thielen also noted that several altcoins are already breaking out of their downtrend channels and trading at more “attractive levels.”Bitcoin is currently trading at $85,720, up 2.1% over the last 24 hours, CoinGecko data shows.Meanwhile, Ether (ETH), Tron (TRX), and Avalanche (AVAX) have rebounded 4.3%, 6.4% and 8.9% respectively over the last week. The crypto research analyst, however, expects to see “significant resistance” at the $90,000 mark for Bitcoin, should it reach that level.Despite the more positive outlook, “no clear catalyst exists for an immediate parabolic rally” is in sight, Thielen said.Related: Bitcoin ‘in position’ for first key RSI breakout in 6 months at $85KHe initially said Bitcoin wouldn’t drop below $73,000 — thereby avoiding a “deep bear market” — because the largest sum bracket of Bitcoin holders (wallets with 100-1000 Bitcoin) are likely family offices and wealth managers who are invested in Bitcoin for the long term.He also noted that the US-based spot Bitcoin ETFs returned inflows for the first time last week since the last week of January. “We expect Bitcoin ETF selling from arbitrage-focused investors to wind down, as the arbitrage opportunities have primarily been closed for weeks,” Thielen added.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

FOMO: 88%