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cointelegraph.com Mar 24, 2025 17:20

Bitcoin price pumps, but will BTC break $92K anytime soon? - Bitcoin (BTC) price surged by 3% on March 24, distancing from its $76,900 low on March 11 despite failing to sustain the $88,000 level. Now, traders are wondering what factors could drive Bitcoins daily close above $92,000, which last occurred on March 3. Adding to cryptocurrency investors’ frustration, gold is trading just 1% below its record high of $3,057, while Bitcoin price trades 19% away from its all-time high.S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphSome analysts attribute Bitcoins recent price gains to the US-listed company Strategy increasing its BTC reserves, while others highlight macroeconomic factors, such as easing inflation expectations and a softer stance from US President Donald Trump on tariffs. Despite this constructive backdrop, traders question what is preventing Bitcoin from maintaining its bullish momentum.Bitcoin’s upside is limited as investors fear an economic recessionEconomists expect signs of a slowdown in the core Personal Consumption Expenditures (PCE) index, which is projected to rise by 2.7% in February, according to Yahoo News. This data, the US Federal Reserves preferred inflation metric, is set to be released on March 26.Implied expectations for the Sept. 17 FOMC. Source: CME FedWatch tool / CointelegraphIf confirmed, the softer inflationary trend would support Federal Reserve Chair Powells remarks on transitory inflation and increase the likelihood of two interest rate cuts in 2025, as reflected in the Treasury futures market.As the US central bank shifts to a less restrictive monetary policy, risk markets typically benefit from increased liquidity and reduced fixed-income appeal. However, uncertainty remains regarding economic growth.Investors are increasingly worried about recession risks due to excessive valuations in artificial intelligence stocks and concerns that US federal spending cuts could negatively impact consumers and the commercial real estate market. While these issues have little direct connection to Bitcoin, traders fear that all risk markets could suffer if the threat of stagflation emerges.The Wall Street Journal reported that President Trump is considering scaling back some tariffs initially planned for April 2. Although unconfirmed, the news suggests Trump may exclude certain industry-specific duties and grant exemptions to some nations. On March 24, S&P 500 futures rose 1.5% as investors perceived lower economic contraction risks, potentially supporting Bitcoin’s price gains.Strategy buys more Bitcoin, but is their tactic sustainable?On March 24, Strategy announced the acquisition of an additional $584 million in Bitcoin, increasing its holdings to 506,137 BTC. The funds for this latest purchase came from the sale of 1.97 million common stock shares, along with the broader $21 billion STRK perpetual preferred stock issuance program. These expanded fundraising options have improved the company’s chances of reaching its ambitious $42 billion Bitcoin acquisition target.While this news appears positive for Bitcoin’s price in the short term, if the US Federal Reserve implements expansionist measures, corporate earnings will likely accelerate, making stocks relatively cheaper. Likewise, a reduced risk of a full-scale global tariff war benefits the stock market and lowers risks in the artificial intelligence and commercial real estate sectors.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesSource: DexyyDxCritics argue that Strategy has been the primary factor supporting Bitcoin’s $80,000 level, posing a risk of price corrections if the company fails to raise additional funds or pauses its stock issuance program for any reason. However, this view overlooks the fact that Bitcoin spot exchange-traded funds (ETFs) saw $786 million in net inflows between March 14 and March 21.In essence, Bitcoin is well-positioned to recapture the $92,000 level, although it remains heavily dependent on overall macroeconomic conditions. Regardless of gold’s performance, investors view Bitcoin as a risk-on asset, favoring a higher correlation with the stock market, at least in the short term.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

FOMO: 85%
cointelegraph.com Mar 24, 2025 17:09

Bitcoin must reclaim this key 2025 level to avoid new lows — Research - Bitcoin (BTC) neared $90,000 at the March 24 Wall Street open as analysis warned of “conflicting signs and signals.”BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price daily gains near 3% in risk-asset reliefData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $88,772 on Bitstamp — its highest levels since March 7.Bitcoin followed stocks by opening the week higher after almost a month of sell-side pressure. The S&P 500 and Nasdaq Composite index were up 1.6% and 2%, respectively, at the time of writing.Commenting, trading resource The Kobeissi Letter explained the upside as a positive reaction to news that the US government was easing the severity of new trade tariffs set to become effective on April 2.It quoted sources reporting that “sector-specific tariffs” would emerge instead of blanket rules.“The S&P 500 is now up +75 points on the news,” it added.S&P 500 4-hour chart. Source: Cointelegraph/TradingViewCrypto market momentum had already gained thanks to rumors of the US potentially using gains on its gold reserves to purchase BTC.“If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast last week.In his latest market analysis on March 24, Keith Alan, co-founder of trading resource Material Indicators, suggested that the news had not fallen on deaf ears.Despite the relatively modest BTC price uptick, he wrote in an X thread, “the announcement that the administration was considering selling Gold Reserves to buy Bitcoin certainly gave speculators some hopium.”“With gold in ATH territory, and BTC in a correction, this would be an opportune time to take some profit on Gold and buy Bitcoin,” he added.XAU/USD 1-day chart. Source: Cointelegraph/TradingViewBTC needs key support reclaim to avoid new lowsContinuing, Alan laid out two key prerequisites for sustained BTC price upside.Related: RSI breaks 4-month downtrend: 5 things to know in Bitcoin this weekThe 21-day simple moving average (SMA), currently at $84,674, as well as the 2025 yearly open at around $93,300, must both be reclaimed as support.BTC/USD 1-day chart with 21SMA. Source: Cointelegraph/TradingView“With conflicting signs and signals, how can we tell if Bitcoin is returning to a path to ATH territory or if this is a developing bull trap? The answer is knowing what your validation/invalidation levels are,” he explained.The yearly open, in particular, would be crucial, with Alan arguing that until it is reclaimed, “there is an increased likelihood that price will retest the lows.” “If/when that happens, Ill be buying those dips when buying resumes,” he concluded.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: 85%
cointelegraph.com Mar 24, 2025 16:25

Tabit offers USD insurance policies backed by Bitcoin regulatory capital - Barbados-based insurer Tabit has raised $40 million in Bitcoin for its insurance facility, in a move the company said would bolster its balance sheet and allow the insurance sector to capitalize on digital assets. Tabit’s Bitcoin (BTC) regulatory capital will be used to back traditional insurance policies, which are all denominated in US dollars, the company disclosed in a March 24 announcement. Tabit claims to be the first property and casualty insurer to hold its entire regulatory reserve in BTC. The company was founded by former executives of Bittrex, a Liechtenstein-based cryptocurrency exchange that was shuttered in 2023.“This solution offers a regulated dollar return, which we’re excited to earn on an alternative asset class such as Bitcoin,” said William Shihara, Tabit’s co-founder. Tabit co-founder and CEO Stephen Stonberg said Bitcoin allows the insurance sector to “Access a largely new and untapped source of insurance capital: digital assets.” “Bitcoin means Tabit has access to a whole new pool of capital,” a company spokesperson told Cointelegraph. “BTC has limited regulated use cases where a hodler can earn a return, but insurance is one of them.”Tabit launched in January as a Bitcoin-backed insurer, receiving a Class 2 license from Barbados’ Financial Services Commission. VC Roundup: Bitcoin RWA, BNB incubator, Web3 gaming secure fundingBlockchain and the insurance sectorSo far, most of the discussion around cryptocurrency and insurance has been tied to helping users recover financial losses and using blockchain technology to improve the industry’s transparency. According to a 2023 report by Boston Consulting Group, the blockchain-insurance nexus could become a $37 billion opportunity by 2030.Behind the scenes, there’s also a growing industry for matching insurance brokers and underwriters with digital asset capital providers. One such company is Nayms, an onchain insurance marketplace that facilitates the connection between capital providers and brokers via segregated accounts.Ensuro is another such provider, which curates insurance market opportunities and provides underwriting capacity through the use of stablecoins. According to its website, Ensuro has over 12,000 active policies, with APYs up to 22%. Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips

FOMO: 88%
cointelegraph.com Mar 24, 2025 15:35

How high can XRP price go? - XRP (XRP) has dropped nearly 30% since hitting a seven-year high of $3.39 in January.Still, bullish news—like Ripple’s potential resolution in the SEC lawsuit and a new license in Dubai—has fueled a rebound. As of March 24, XRP was trading for as high as $2.47, up 38% from its year-to-date low of $1.79.XRP/USD daily price chart. Source: TradingViewHow high can the XRP price go from here? Let’s examine.XRP parallel channel projects $2.77 targetXRP is climbing within a rising parallel channel, showing signs of strength as it pushes toward a crucial resistance level.Key takeawas:XRP/USD has bounced after testing the channel’s lower trendline as support at around $2.37, aligning with the 50-4H exponential moving average (50-4H EMA; the red wave).XRP/USD four-hour price chart. Source: TradingViewThe pair is now eyeing a retest of $2.59—the 0.618 Fibonacci retracement level—which previously acted as a strong resistance capping the March 19 rally.A successful breakout above this resistance could see XRP testing the channel’s upper trendline, located near $2.77—coinciding with the 0.786 Fibonacci level.Related: XRP, Solana lead altcoin ETP inflows as Ethereum slumps — CoinSharesMarket analyst Dom emphasized that XRP must stabilize above $2.50, which aligns with its all-time high volume-weighted average price (VWAP), to sustain bullish continuation.XRP/USD four-hour price chart. Source: TradingView/DomThe Relative Strength Index (RSI) is trending above 60, indicating building bullish momentum without yet being in overbought territory.XRP symmetrical triangle breakout loomsXRP is flashing a major bullish signal on its higher timeframe chart, with price action coiling within a symmetrical triangle that suggests a breakout rally may be on the horizon.What to know:A symmetrical triangle forms when the price consolidates inside a triangle-like structure after a strong uptrend or downtrend.It typically resolves when the price breaks out in the direction of its previous trend, rising/falling by as much as the triangle’s maximum height.XRP/USD three-day price chart. Source: TradingViewThe triangle pattern formed after XRP’s 575% rally between November 2024 and January 2025, raising the prospects of further gains in the coming weeks.A successful breakout above the triangle’s upper trendline could send XRP’s price toward $4.20—up about 70% from the current price levels—by May.Analyst CrediBULL Crypto also suggests that XRP is gearing up for a new all-time high above $3.40 in the coming weeks.XRP liquidation heatmap shows $2.66-2.98 as next possible targetsThe Binance XRP/USDT liquidation heatmap reveals key liquidity zones where large liquidation events may occur. These levels act as magnet zones, influencing price direction based on the amount of liquidity at a given level.XRP/USDT one-month liquidation heatmap (Binance). Source: CoinglassKey points:A high concentration of liquidations is visible near $2.66, with the yellow area indicating a cluster of leveraged positions, suggesting it’s a key resistance level.If $2.66 level is broken, it could spark a liquidation squeeze, forcing short sellers to close positions and driving prices toward $2.98, the next major liquidity cluster.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: 85%