Token

Injective

Bitcoin ETF

Bitcoin

<div class="cryptonews">
 <div class="cn-block-disclaimer">
  <div class="cn-block-disclaimer__icon">
   <svg class="icon icon-info" aria-hidden="true"><use xlink:href="#"></use>
   </svg>
  </div>
  <p class="cn-block-disclaimer__content">Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>
 </div>
 <p class="is-style-lead">The cryptoсurrency market sees sell pressure, while Bitcoin ETF Token, Meme Kombat, and Injective Protocol show bullish signs.</p>
 <p class="is-style-default">Crypto prices experienced notable sell pressure on Monday, Dec. 18, with market leader Bitcoin down 1.77% and others, like Ethereum and Solana, down 1.76% and 4.55%, respectively.</p>
 <p>However, some alt<a rel="noopener noreferrer nofollow" title="coins" href="https://thebittimes.com/tag/coins.html">coins</a> remain unfazed, indicating they could be set for a bullish week before Christmas. These tokens are Bitcoin ETF Token, Meme Kombat, and Injective Protocol.</p>
 <h2 class="wp-block-heading" id="cryptocurrency-prices-fall-while-bitcoin-slows-amid-surging-fees">Cryptocurrency prices fall while Bitcoin slows amid surging fees</h2>
 <p>Bitcoin is currently trading at $41.1k after peaking at $44.6k earlier this month.</p>
 <p>While Bitcoin’s pump was undoubtedly exciting, it displayed signs of a potential market structure breakdown.</p>
 <p>Analyst Crypto-ROD highlighted that Bitcoin has been forming bearish divergences throughout its recent rally, implying that buyers are losing momentum.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">$BTC Momentum view reminder #Bitcoin Show multiple daily bearish divergence on the momentum here, as we got in the past.<br><br>I still think we are in a consolidation move here, and it's just the beginning ️ https://t.co/tsz81a2BQA pic.twitter.com/c7xgzQyUQz</p>— Crypto-ROD (@RodMaartin) December 13, 2023
   </blockquote>
  </div>
 </figure>
 <p>A bearish divergence is a trend reversal signal where the price creates a new high, but the RSI indicator does not.</p>
 <p>Consequently, Bitcoin has broken below a crucial 4-hour time frame support level, causing many altcoins to drop, too.</p>
 <p>YouTuber Crypto Rover analyzed Bitcoin’s recent move, highlighting that Bitcoin could retrace to $39.7K should it break its current $40.6K support.</p>
 <p>The analyst also highlighted that Bitcoin is forming a descending triangle, typically a bearish pattern.</p>
 <blockquote class="wp-block-quote">
  <p>“This pattern right here is a very bearish pattern, and honestly, if Bitcoin is really going to break below this level, I won’t be surprised if Bitcoin is going to see a significant move towards the downside.”</p> <cite>Crypto Rover</cite>
 </blockquote>
 <figure class="wp-block-image size-full"><picture decoding="async" class="wp-image-14228844">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/18/1d177eeb43e3f9be27e200afe14d0ce6.webp.webp">
   <img decoding="async" width="1600" height="815" src="https://cdn.thebittimes.com/images/2023/12/18/1d177eeb43e3f9be27e200afe14d0ce6.webp" alt="Here’s why crypto prices are down on Monday, but which altcoins could see gains this week? - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Bitcoin’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> graph | Source: Crypto Rover on YouTube
  </figcaption>
 </figure>
 <p>Another reason <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s are falling is that fees on Bitcoin and other layer-1 networks have recently become expensive.</p>
 <p>Bitcoin’s rising transaction fees are due to the growing interest in Bitcoin Oridanls on the blockchain. However, X users Beatyon highlighted that this is a significant problem for the network.</p>
 <blockquote class="wp-block-quote">
  <p>“On-chain fees are $41.72. That means anyone with less than that amount cannot send on-chain from their wallet. Assuming that people want to actually use Bitcoin, anyone who has, say, $30 on-chain in their wallet is now “locked out” of their Bitcoin.”</p> <cite>X user Beatyon</cite>
 </blockquote>
 <p>The analyst explained the risk of rising fees and the detrimental effect it may have on mainstream adoption.</p>
 <p>Meanwhile, Ethereum fees have reached over $100 this weekend, and users even complained that the Avalanche network was becoming congested.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">I went from $500 in $AVAX wallet to $50 because of a couple failed transactions. <br><br>And I never even got my transaction through. pic.twitter.com/c00XxxyDZF</p>— Cited (@cited) December 16, 2023
   </blockquote>
  </div>
 </figure>
 <p>Analyst WhaleWire responded to the rising Bitcoin fees, “Historically, during market peaks, #Bitcoin experiences a surge in transaction fees and network congestion.” Based on this information, Bitcoin may be near a local top.</p>
 <p>Other analysts also believe Bitcoin may have topped out for 2024, with Michael van de Poppe speculating that Bitcoin could sell off to “beneath $40K and go back up from there towards the highs and the ETF approval.”</p>
 <h2 class="wp-block-heading" id="which-altcoins-could-rise-this-week">Which altcoins could rise this week?</h2>
 <p>However, not all <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies are poised for a bearish near-term trajectory. Currently, among those displaying the most strength are Bitcoin ETF Token, Meme Kombat, and Injective Protocol.&nbsp;</p>
 <h2 class="wp-block-heading" id="bitcoin-etf-token">Bitcoin ETF Token</h2>
 <p>Bitcoin ETF Token is a new presale token that rewards holders as Bitcoin ETFs are approved.</p>
 <p>This crypto could explode soon because, unlike Bitcoin and other projects already on the market, it has yet to pump because it remains in its presale at a fixed price.</p>
 <p>Given the explosive trajectory of the market in recent months, this could equate to significant liquidity inflows once it goes live on exchanges.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1600" height="764" src="https://cdn.thebittimes.com/images/2023/12/18/f040d6a446e49e858482a5ed697419ff.webp" alt="Here’s why crypto prices are down on Monday, but which altcoins could see gains this week? - 2" class="wp-image-14228843">
 </figure>
 <p>One of the ways that Bitcoin ETF Token rewards holders is its deflationary mechanism, allocating 25% of its total supply to be burned across five key ETF milestones and implementing a 5% burn tax on transactions that reduces by 1% at each.</p>
 <p>Another important feature is staking, enabling holders to generate a 62% APY. However, this will decrease as the staking pool grows, incentivizing early buyers.</p>
 <p>Lastly, it boasts a Bitcoin ETF Alerts service that directly updates users on the latest Bitcoin news from its website. This aims to foster an engaged, long-term community.</p>
 <p>So far, the presale has raised $4.6 million in just over one month. However, market participants face their last chance to buy with the presale hard cap set at $5 million.</p>
 <p><strong>Visit Bitcoin ETF Token Presale</strong></p>
 <h2 class="wp-block-heading" id="strong-meme-kombat-strong"><strong>Meme Kombat&nbsp;</strong></h2>
 <p>Meme Kombat is a compelling blend between GambleFi utility token and meme coin. Blurring the lines between two of crypto’s most prominent trends, analysts are backing it to 100x.</p>
 <p>The project lets users gamble on AI-generated fights between prevalent meme coin characters within its augmented battle arena.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1600" height="760" src="https://cdn.thebittimes.com/images/2023/12/18/153d103f045113f29123096bc6cb6f2d.webp" alt="Here’s why crypto prices are down on Monday, but which altcoins could see gains this week? - 3" class="wp-image-14228845">
 </figure>
 <p>It features sophisticated game modes, staking with a 239% APY, and a doxxed team. 100% of tokens will be distributed to the community.&nbsp;</p>
 <p>According to its whitepaper, 50% of tokens will be available at presale, 10% to DEX liquidity, 30% to staking and battle rewards, and 10% to community rewards.</p>
 <p>Another benefit to $MK is that it boasts tangible utility, translating to steady demand. This is achieved since users will gamble on battles with the token.</p>
 <p>Countless YouTubers and media outlets have rallied behind this one-of-a-kind use case and robust tokenomics.&nbsp;</p>
 <p>Jacob Bury forecasts it could rise 10x, referencing its unique use case and blend of utility and viral potential as to why.</p>
 <p>Meanwhile, the MoneyExpress YouTube channel believes it could 100x, while top outlets like Finbold, BeInCrypto, and CrypotPotato have also endorsed it.</p>
 <p>Investors can buy Meme Kombat for $0.246. However, according to the cited predictions, it might rise to $0.257 in three days.</p>
 <p><strong>Visit Meme Kombat Presale</strong></p>
 <h2 class="wp-block-heading" id="strong-injective-protocol-strong"><strong>Injective Protocol</strong></h2>
 <p>Over recent months, Injective Protocol has fared as one of the top-performing altcoins, climbing a whopping 2,000% this year.</p>
 <p>Yet, the project has continued to surge while the rest of the market slumped, indicating tremendous potential when the market picks up again.</p>
 <p>Currently, INJ is <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>d at $32.11, up 7% in the last 24 hours and 40% this week.</p>
 <figure class="wp-block-image size-full"><picture loading="lazy" decoding="async" class="wp-image-14228842">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/18/f959baff42c2ed5539ed1969ae8afd75.webp.webp">
   <img loading="lazy" decoding="async" width="967" height="497" src="https://cdn.thebittimes.com/images/2023/12/18/f959baff42c2ed5539ed1969ae8afd75.webp" alt="Here’s why crypto prices are down on Monday, but which altcoins could see gains this week? - 4"> 
  </picture>
 </figure>
 <p>It holds a $2.6 billion market cap and a $337 million trading volume, up 37% in the last 24 hours.</p>
 <p>Following Bonk, it has also recently climbed to second place on CoinMarketCap’s trending list. Given the viral nature of meme coins, this is a notable achievement, particularly considering Injective’s robust fundamentals.</p>
 <p>Injective Protocol is a layer-1 blockchain focused on defi and cross-chain interoperability.</p>
 <p>It has so far processed 374,176,284 on-chain transactions and averages a 0.8-second block time. Moreover, its average cost per transaction is less than $0.01.</p>
 <p>The chain is also MEV-resistant and boasts a comprehensive stack of defi applications, enabling users to do everything from spot buying and selling to futures trading on Bitcoin and other assets from different blockchains.</p>
 <p>Its tunnel-visioned focus on defi could present significant potential in the upcoming bull market as institutions move in and seek the most well-equipped blockchain.</p>
 <div class="cn-block-disclaimer">
  <div class="cn-block-disclaimer__icon">
   <svg class="icon icon-info" aria-hidden="true"><use xlink:href="#"></use>
   </svg>
  </div>
  <p class="cn-block-disclaimer__content">Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.</p>
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-s-why-crypto-prices-are-down-on-monday-but-which-altcoins-could-see-gains-this-week-tbt74047.html">https://thebittimes.com/here-s-why-crypto-prices-are-down-on-monday-but-which-altcoins-could-see-gains-this-week-tbt74047.html</a></p>

Here’s why crypto prices are down on Monday, but which altcoins could see gains this week?

Tabla de contenidos

TheBitTimes

Otros artículos publicados el 18 dic 2023

The Fed Part 2: The Graveyard Balance Sheet

BONK Lays Down Conditions for Participating in Anniversary Celebration Event

Is Shiba Inu Going to Zero? SHIB Price Suddenly Drops 11% as New Meme Coin Takes the Limelight

MoonBoiUniverse: Solana Phones Soar to $5,000 Amidst Virtual Gaming Boom.

Unveiling XV Token: The Everything Token Powering the Web3 Ecosystem

10KM Down, 32KM to Go in Crypto Bull Run, Says Venture Capitalist

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!