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The rally in the crypto market looks overvalued, say JPMorgan Chase analysts. According to The Block, the bank noted the high expectations of traders and investors dictated by several factors. Among them, experts identified two main ones: the prospect of approval by the US Securities and Exchange Commission (SEC) of spot Bitcoin ETFs and the softening of the department’s supervisory policy, which stems from the previous paragraph. However, in both these cases, there are certain nuances, the report says. In the first, positive expectations are dictated by a likely jump in the exchange rate and an influx of capital, but the latter is unlikely, JPMorgan Chase notes: “First, instead of fresh capital entering the crypto industry to be invested in the newly-approved ETFs, we see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs, and publicly listed bitcoin mining companies, into the...

Solana (SOL) becomes the most traded altcoin in US exchanges this year.  Solana (SOL) is witnessing a dramatic climb in trading volume , outshining other altcoins on exchanges accessible in the United States over the current year. Leading exchange, Coinbase strategically increased its holdings by acquiring 2.2 million SOL tokens on Oct. 18. Since then, SOL is up by over 35%. In contrast, South Korea’s prominent exchange, Upbit, sold nearly 4 million SOL tokens. SOL’s monthly price chart What’s driving Solana (SOL)? A surge in network activity, particularly within liquid staking token protocols such as Jito, has contributed partially to Solana’s price acceleration, according to the data from Kaiko Research. As a prominent alternative Layer 1 (alt L1) blockchain, Solana is frequently juxtaposed with Ethereum (ETH), and the recent months have seen Solana outshine its counterpart. The comparative ratio of SOL to ETH has escalated from 0.011 in September to ...

According to popular cryptocurrency Youtuber CryptosRUs, the approval for the first Bitcoin (BTC) spot exchange-traded fund (ETF) in the U.S. could be coming within days. In a video posted on Oct. 31, CryptosRUs pointed to a closed SEC meeting scheduled for Nov. 2nd that will cover topics like “resolution of litigation claims” as a sign that a Bitcoin ETF decision is imminent. This comes after SEC Chairman Gary Gensler posted a cryptic Bitcoin-related tweet on Oct. 31st, the 15th anniversary of the release of Satoshi Nakamoto’s famous Bitcoin whitepaper. You might also like: Bitcoin ETFs could face rug-pull from Gensler, analysts say Many believe this closed meeting may involve a review of Grayscale’s Bitcoin ETF application. Grayscale recently won a lawsuit against the SEC after the regulator stalled on approving their application. If the SEC can’t find a valid reason to deny Grayscale’s ETF, they may have no choice but to approve i...

This week’s episode of Market Talks discusses how Bitcoin cycles are changing and how it could impact the upcoming halving. In the latest episode of Cointelegraph’s Market Talks , host Ray Salmond speaks with Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence.  When asked whether Bitcoin’s (BTC) pre- and post-halving price action could differ from previous cycles due to a change in global monetary policy, Coutts said:  “I’ve been writing about this for most of the year. We do have some strong fundamentals in the space, but ultimately, what drives risk assets is liquidity. The longer that we have this tightening cycle, and if we start to see an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.”  Related: The future of BTC mining and the Bitcoin halving Despite the dim macroeconomic outlook, Coutts did suggest:  “We could be near the end. There is still a lot of u...

This week’s episode of Market Talks discusses why 2024 could be bullish for the crypto industry and if crypto has weathered the storm. This week’s episode of Cointelegraph’s Market Talks welcomes Huf, the founder of Pear Protocol, a new decentralized exchange launching on Arbitrum in 2023. Huf worked as an equity derivatives trader for various investment banks for over a decade before entering the decentralized finance industry in 2019. He is often quoted in various news outlets for his views on the markets, which he shares in real time via his X (formerly Twitter) profile. The show kicks off with Huf’s views on the current crypto market. Is it in need of a new stimulus and new money? Is it a closed system with the same money rotating from one protocol to the next or one blockchain to another? Is that the reason for such record-low volatility?  Do narratives drive the current crypto market? If so, how can a trader or investor make the right decisions based on those narratives? Huf ...

Bitcoin is at the pivotal 50-day SMA support and a drop below this level could result in accelerated selling in BTC and altcoins. Bitcoin (BTC) plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions. Although the near term looks bearish, long-term investors remain unfazed and they continue to hold on to their positions. Glassnode data shows that Bitcoin’s Long-Term Holder Supply made a new high of 14.52 million Bitcoin, “equivalent to 75% of the circulating supply.” Daily cryptocurrency market performance. Source: Coin360 While the cryptocurrency markets have turned soft in the near term, the United States equities markets remain on a strong footing. The Dow Jones Industrial Average has risen for ten straight days, its longest streak since 2017. However, things could change this week with a slew of key ea...

Market observers will closely watch the United States CPI data and the Fed’s policy decision to provide direction to the stock and crypto markets. After the tough sell-off seen in the past week, the cryptocurrency markets will be looking for some support from the macroeconomic data this week. The all-important United States Consumer Price Index report on June 13 will be followed up by the Federal Reserve’s policy decision on June 14.  Both these events could trigger a sharp response from equities and crypto traders. While a knee-jerk reaction is expected, it will be interesting to note if there is any follow-up to it. Traders may remain cautious as market volatility is likely to pick up over the next few days. Daily cryptocurrency market performance. Source: Coin360 Although the lawsuit by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase has weakened sentiment, Bitcoin (BTC) whales are using this opportunity to increase their holdings. Behavior analytics ...

Get started with nine beginner-friendly data science project ideas to enhance your skills and portfolio. Beginners should undertake data science projects as they provide practical experience and help in the application of theoretical concepts learned in courses, building a portfolio and enhancing skills. This allows them to gain confidence and stand out in the competitive job market. If you’re considering a data science dissertation project or simply want to showcase proficiency in the field by conducting independent research and applying advanced data analysis techniques, the following project ideas may prove useful. Sentiment analysis of product reviews This involves analyzing a data set and creating visualizations to better understand the data. For instance, a project idea may be to examine user evaluations of products on Amazon using natural language processing (NLP) methods to ascertain the general mood toward such things. To accomplish this, a sizable collection of product revi...