Latest news with #JoelKruger
Yahoo
a day ago
- Business
- Yahoo
AI Crypto Livepeer Explodes 150% on Upbit Listing
The native token of Livepeer LPT, a decentralized artificial intelligence video processing protocol, soared on Friday to its strongest price in four months on exchange listing and other catalyst. The token advanced 150% over the past 24 hours, hitting a session high at $14.20, CoinDesk data shows. The surge defied a slump in the broader crypto market, with bitcoin BTC sliding 2% below $106,000 and the CoinDesk 20 Index declining 3.5% during the same period. Most artificial intelligence-linked tokens were down 5%-10%. The price action happened as popular Korean exchange Upbit introduced trading with the token against KRW and Tether's USDT on its platform earlier on Friday. Joel Kruger, a crypto market strategist, highlighted that asset manager Grayscale introduced earlier this week its Artificial Intelligence Crypto Sector, with Livepeer being included among the 20 cryptocurrencies. Ecosystem developer Livepeer Foundation's advisory boards also kicked into gear, starting a community survey about the platform's strategic direction, he pointed out.
Yahoo
2 days ago
- Business
- Yahoo
Bitcoin Slides Below $106K; Analyst Sees Ether Breakout Looming
Bitcoin BTC quietly slid to its weakest price in nine days on Thursday afternoon as crypto markets cooled off after a multi-week rally from the April lows. The top cryptocurrency hit a session low of $105,750 before rebounding to just above $106,000. It was down 1.5% in the last 24 hours, but still only 5% away from record high levels. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization except for exchange coins, memecoins and stablecoins — has slumped 0.9% in the last 24 hours, with solana SOL and avalanche AVAX underperforming BTC with losses of 1.8% and 2%, respectively. Meanwhile, Ethereum's ether ETH and XRP XRP defied the downtrend with 1%-2% gains. Crypto stocks have had a relatively muted session. Coinbase (COIN) is down 2.7% but Strategy (MSTR) has risen 0.8%. Bitcoin mining firms Bitfarms (BITF), Bit Digital (BTBT), CleanSpark (CLSK) and Greenidge Generation Holding (GREE) booked roughly 4% losses. A check on traditional markets showed U.S. equities giving back most of the gains on yesterday's court ruling that blocked the Trump administration's global tariffs. However, a U.S. appeals court today reinstated the tariffs while the government appealed the earlier ruling, perhaps adding to investor uncertainty. LMAX Group market strategist Joel Kruger expects a volatile ride with tariffs again back in focus with the ongoing appeal and the self-imposed July 9 deadline for trade deals approaching, but still sees further upside for digital assets. 'Bitcoin remains robust in the latter half of the week, consolidating just below its recent peak while steadfastly holding above $100,000 for 20 consecutive days, underscoring persistent bullish momentum," he said. Kruger also noted that Ethereum's ether shows signs of snapping its multi-year downtrend against BTC, as the corporate crypto treasury bonanza has reached the second-largest digital asset with SharpLink Gaming's (SBET) $425 million fundraising plan. Arthur Aziz, founder and investor of B2 Ventures, said that ETH is coiling for a breakout but warned of downside risks. Sharing his technical analysis in a note, he said the $2,750 level has posed significant barrier capping gains over the past weeks, while the $2,550-2,450 area emerged as a key support level. He noted that ETH is forming a bullish ascending triangle pattern, which historically preceded rallies to higher prices. "The stage for a future $3,000 level breakout is being set right now," he said. However, "abusing" leverage in futures markets could trigger a "sharp breakdown" below the $2,550-2,450 support zone in cascading selling. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Cryptocurrency Prices And News: Bitcoin Hovers Near Record High, Miners Join Rally
Cryptocurrency News: Cryptocurrency prices have been mixed this week after bitcoin surged to a new record high on May 22. Bitcoin traded around $107,500 on Wednesday, modestly retreating new peak of $111,970 on Thursday according to CoinMarketCap data. LMAX analyst Joel Kruger recently told IBD that the fresh high could set the stage for a measured rally toward $145,000.
Yahoo
03-04-2025
- Business
- Yahoo
Bitcoin Nears $80K but 'Turning Point' in Sight, Suggests Analyst
Down more than 5% since President Trump's tariff announcement on Wednesday evening sent markets plunging, bitcoin (BTC) once again is disappointing bulls who have touted its store-of-value properties or potential as a non-correlated safe haven to risk assets like stocks. Or not. "This moment feels like a turning point," said Joel Kruger, LMAX Group market strategist. "We see market participants increasingly drawn to [BTC's] appeal as a store-of-value asset and a compelling diversification tool amid the uncertainty." Kruger noted that while the Nasdaq and S&P 500 have each tumbled to new 2025 lows, bitcoin for the moment is holding well above its year-to-date bottom of $75,000 — what technicians like to call "higher lows." But Javier Rodriguez Alarcon, chief commercial officer at crypto exchange XBTO, believes otherwise. 'Despite talk that bitcoin could act as a hedge against dollar-centric volatility, in practice we're still seeing a strong correlation between digital assets and broader risk markets in moments of uncertainty,' the ex-Goldman Sachs executive said in an email. "Bitcoin's volatility and correlation with equities raises questions over its 'digital gold' narrative," said Nikolaos Panigirtzoglou and team at JPMorgan yesterday. "We see gold continuing to rise as the major beneficiary of the debasement trade," they added. Even with bitcoin's recent pullback, the price is still above the bank's estimated average cost of production of $62,000, a metric which has acted as a lower boundary in the past, wrote Panigirtzoglou. Gold today is lower by just 1.25% to $3,126 per ounce and within close sight of its record high of around $3,200.
Yahoo
18-03-2025
- Business
- Yahoo
Bitcoin Edges Higher to $84K as Analyst Warns of Another Leg Down for Crypto
Crypto markets climbed higher on Monday with bitcoin (BTC) trading above $84,000 as another positive day for U.S. stocks extended their rise lifting risk largest cryptocurrency was up, the broader crypto market was up 1.8%, while the broad-market CoinDesk 20 Index slightly outperformed with a 2.4% advance during the same period. Ethereum's ether (ETH) stabilized above $1,900 and was 2.8% higher, while several altcoin majors including SUI, AAVE, ICP and NEAR booked more than 5%. Solana also edged 3% higher in line with the broader market, as the first day of SOL futures trading on institutional-focused marketplace CME failed to make a difference on investor sentiment. Ethena's governance token (ENA) rallied 7% on the news of developing a proprietary blockchain with tokenized asset issuer Securitize, aiming to connect decentralized finance (DeFi) and traditional institutions. Key U.S. stock indexes extending their bounce into this week gave a favorable backdrop for risk assets. However, LMAX Group strategist Joel Kruger warned that the monthly S&P500 chart suggests a sustained correction for U.S. equities, which could weigh on cryptocurrencies. "When we consider the state of global trade tension and concerns around a slowdown in the US economy, all at a time when it's increasingly uncertain how much more accommodation the Fed can offer, there is indeed worry stocks could fall further," Kruger said. He noted there's a potential for a lower low for BTC to revisit the 2024 March peak at $73,000-$74,000. The market near-universally expects the Fed to keep rates unchanged during this week's Federal Open Market Committee's meeting, but investors should keep an eye on any potential change in the central bank's balance sheet runoff, or quantitative tightening (QT) program, said David Duong, head of research at Coinbase Institutional. "We think the Fed might pause or end its QT program this week, as bank reserve levels are near the 10-11% of GDP levels that are commonly considered sufficient for maintaining financial stability," he wrote in a Monday report. He said the recent crypto selloff was largely due to macro concerns and deteriorating liquidity conditions, which could turn for the better during the next quarter, providing tailwind for asset prices. "Crypto prices could find their bottom in the next few weeks before rebounding to new highs later this year," he concluded.
