Bitcoin News
Breaking News: BREAKING: Bitcoin Hits New All-Time High, Surging Past $70,000 For The First Time In History
XRP
94 Million XRP Exits Binance As Bulls Reclaim Control, What’s Going On?
Scott Matherson by Scott Matherson March 11, 2024



Crypto whale transaction tracker Whale Alerts has revealed various large XRP transactions in the last 24 hours as bullish momentum returns to the market. Interestingly, five of the large transactions in the past 24 hours have come from crypto exchange Binance, with the latest occurring in the past hour. In fact, 94 million tokens were recently transferred from Binance into unknown wallets, prompting investors to contemplate the reasons behind the transfers and possible outcomes.

Large Transactions From Binance
Data from Whale Alerts reveals that the transfers, worth over $57 million, were sent out of Binance in five transactions of 18 million XRP each. This huge transfer could signal big investors are buying the altcoin in droves, but the pattern of accumulation also points to the transactions being carried out by one entity.

Related Reading: Litecoin Beats Out Dogecoin, Bitcoin To Emerge As Top Crypto For Payments
The transfers occurred throughout Sunday, starting with a transfer of 18.76 million tokens worth $11.7 million from Binance into an unknown wallet. Subsequently, 18.4 million tokens, 19.2 million tokens, 18.8 million tokens, and 18.7 million tokens worth $11.26 million, $11.47 million, $11.19 million, and $11.69 million were sent into private wallets.

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🚨 18,750,448 #XRP (11,698,918 USD) transferred from #Binance to unknown wallethttps://t.co/aeCHQ4RYxA

— Whale Alert (@whale_alert) March 11, 2024

Investors can only speculate as the identity of wallet addresses is mostly unknown. But shifts of this magnitude often foreshadow market sentiment. These enormous transactions in such a short time span negate a random pattern and suggest accumulation from the parties involved.

However, the transfers could have also been carried out by Binance itself, as on-chain data shows all recipient addresses were activated on the same day by the exchange. Furthermore, this pattern of 18 million XRP tokens departing Binance in each large transaction began on Friday. Essentially, the transfers could have been due to wallet maintenance or liquidity factors.

What’s Next For XRP?
XRP has majorly underperformed other large market-cap cryptocurrencies. At the time of writing, the token is trading at $0.6219 and is up by 18% in 30 days. For comparison, Bitcoin, Ethereum, and BNB are up by 49%, 58%, and 63% respectively in the same timeframe.

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Related Reading: Crypto Whales Bet Big On LINK – Is Chainlink The Next Bitcoin?
However, XRP enthusiasts continue to remain strong and anticipate a strong bullish run. According to attorney Bill Morgan, XRP is set to surpass its all-time high of $3.4 this cycle. Right now, XRP is showing other signs of building momentum, like a recent breakout above a long-term downtrend line.

A popular crypto analyst known as Ash Crypto noted that the altcoin is on the verge of a multi-year breakout. The last time this happened, XRP went on a surge throughout 2017 and 2018 to reach its current all-time high.

XRP MASSIVE BREAKOUT 🔥

XRP IS ON THE VERGE OF MULTI-
YEAR BREAKOUT

ONCE IT BREAKS OUT, THE PUMP
WILL BE HUGE !! pic.twitter.com/4UuwyMXHJU

— Ash Crypto (@Ashcryptoreal) March 10, 2024

According to the analyst’s XRP chart, a repeat of this breakout would lead to a surge of epic proportions to $18.

Analyst Predicts Bitcoin Super Cycle, Sets Price Target At $80,000

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Bitcoin News
Breaking News: BREAKING: Bitcoin Hits New All-Time High, Surging Past $70,000 For The First Time In History
Bitcoin
Analyst Predicts Bitcoin Super Cycle, Sets Price Target At $80,000
Godspower Owie by Godspower Owie March 11, 2024



Bitcoin, the world’s largest cryptocurrency asset, has finally entered a new price threshold, surpassing its previous all-time high (ATH) of $69,000, accomplished nearly three ago.

Following the latest milestone, crypto enthusiasts and experts are very bullish on the digital asset, predicting further upward movement to unprecedented heights in the upcoming months.

Bitcoin Super Cycle Area Set At $80,0000
Cryptocurrency analyst Doctor Profit has shared a positive forecast for BTC with the crypto community on the social media platform X. His analysis, tagged “Big Sunday Report,” delves into the next step that BTC is expected to take amid the general market optimism.

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Related Reading: Bitcoin To $240,000: Analyst Cites Key Narrative As Catalyst
Doctor Profit’s projection is based on Technical Analysis (TA), Life-Cycle-Assessment (LCA), and Psychological analysis. Drawing attention to a previous forecast, Doctor Profit stated that a breakout above $48,500 would send the price “all the way to the old ATH very quickly.”

Interestingly, this took place in a matter of weeks, at a swift pace. He highlighted that the breakout, which sent Bitcoin to exactly $60,000 as predicted weeks earlier, signaled the start of the “Golden bull phase.”

Bitcoin
BTC, ETH, BNB, and SOL poised for notable upswing | Source: Doctor Profit on X
According to the analyst, any movement in the range of “$48,500 to $70,000” right now is considered to be in the golden bull market. Meanwhile, “anything above $72,000” marks the beginning of the “Super Cycle Phase,” indicated by “significant green candle returns and surges.”

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The expert is confident that before the asset goes higher, it will maintain a “movement inside the golden bull and super cycle.” Specifically, these sideways movements will go on for a while, primarily between “$60,000 (Golden Bull area) and $80,000 (Super Cycle area).”

Doctor Profit noted that the movement is not because Bitcoin seems weak or needs to be corrected. Instead, its rally was very swift making it difficult for big market cap altcoins to keep up with the crypto asset.

Despite Bitcoin reaching a new peak, major altcoins like ETH, BNB, or SOL still have not been able to record significant inflows, suggesting a pending activation of a robust altcoin market.

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BTC To Move In Four Phase In This Bull Cycle
So far, Doctor Profit expects Bitcoin to move in four distinct phases in this upcoming bull run. The experts underlined the first aspect, “signifying the conclusion of the bear market,” was between $16,000 and $25,000.

Related Reading: Bitcoin Fee Shock: Network Charges Double Amidst Excitement Of $70,000 BTC
He explains that the next phase, the “pre-bull market,” comprises two aspects. According to the analyst, the initial pre-bull step opened up “between $25,000 and $38,500,” while the second stretched between “$38,000 to $48,000.”

Meanwhile, from “$48,000 to $70,000 is when the golden bull phase began.” This, he expects, to lead to the Super Cycle area that will “last from $72,500 to unprecedented levels.”

Currently, the price of Bitcoin has increased by over 3% in the last 24 hours, trading at $72,139. Its trading volume and market cap are also showing strength, rising by 78% and 3% respectively.

Bitcoin
BTC trading at $72,000 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Tags: altcoinsBinance CoinbitcoinBNBbtcbtcusdBTCUSDTDoctor ProfitethereumGolden Bull AreaLife-Cycle-Assessment (LCA)Psychological AnalysisSolSolanaSuper Cycle AreaTechnical Analysis (TA)


Godspower Owie
Godspower Owie
My name is Godspower Owie and i am an employee for Bitcoinnist and NewsBTC news outlet. Sometimes i like to picture myself as an explorer, this is because i like visiting new places, i like learning new things (useful things to be precise), i like meeting new people - people who makes an impact in my life no matter how little it is. I cherish my time, my work, my family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, i chase dreams.

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The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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