Mike

Shiba

bullish

Shiba Inu

<figure><figcaption> Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a></figcaption></figure><p>Check out the top three news stories over the past day presented to you by U.Today.</p><h2 id="xrp-hits-bullish-reversal-bull-run-confirmed">XRP hits bullish reversal, bull run confirmed?</h2><p>XRP is showing signs of a potential bullish reversal after it<a href="https://u.today/xrp-hits-bullish-reversal-bull-run-confirmed" rel="noopener noreferrer nofollow">recently surpassed</a> the 50-day Exponential Moving Average. At press time, the asset is changing hands at $2.43, moving closer to a key resistance level around $2.70. This breakthrough is important as trading above the 50 EMA often indicates growing bullish momentum. Since early March, XRP has continuously marked higher lows, which suggests a gradual increase in buying pressure, and recent trading activity was marginally higher than the 20-day average. Should XRP break through the descending trendline at $2.70, it may confirm a bullish reversal pattern and lead to a bigger rally. However, if XRP fails to hold its position above the 50 EMA, the bullish setup could be jeopardized, and short-term selling pressure could return.</p><h2 id="bitcoin-faces-great-reset-risk-mike-mcglone-warns">Bitcoin faces "great reset" risk, Mike McGlone warns</h2><p>Yesterday, March 24,<a href="https://u.today/bitcoin-faces-great-reset-risk-mike-mcglone-warns" rel="noopener noreferrer nofollow">Mike McGlone</a>, senior commodity strategist at Bloomberg Intelligence, took to<a href="https://x.com/mikemcglone11/status/1904123375305245084" rel="noopener noreferrer nofollow">X platform</a> to share an important warning regarding Bitcoin. According to the expert, BTC may have peaked versus gold, with a "Great Reset," i.e., a big correction, potentially looming on the horizon. In 2024, the Bitcoin-to-gold ratio peaked at 40x, meaning that one BTC was valued at 40 times the price of one gold ounce; however, McGlone believes that this level is unsustainable. He also mentioned the U.S. stock market-cap-to-GDP ratio has hit 2.2x. "2024's 40x peak in the ratio and 2.2x in US stock market-cap-to-GDP akin to 1929 or 1999," wrote the expert. In those years, the U.S. faced the beginning of the Great Recession and the crash of the dot-com bubble.</p><h2 id="second-biggest-shiba-inu-shib-wallet-sees-mysterious-transfers">Second biggest Shiba Inu (SHIB) wallet sees mysterious transfers</h2><p>According to recent data by Arkham Intelligence, Upbit, South Korea's largest crypto exchange, has witnessed<a href="https://u.today/second-biggest-shiba-inu-shib-wallet-sees-mysterious-transfers" rel="noopener noreferrer nofollow">a spike in activity involving Shiba Inu.</a> A substantial amount of SHIB was transferred from Upbit's deposits to its hot wallet via medium-sized transactions. This led to Shiba Inu becoming one of the top 20 cryptos on Upbit by volume over 24 hours. The reason for such heightened activity remains unknown. As a reminder, Upbit remains one of the largest holders of SHIB, with its wallet "0x02E" holding 47.11 trillion SHIB worth $625.7 million. This represents 4.71% of the SHIB total supply. At press time, SHIB is changing hands at $0.00001368, up 1.74% over the past 24 hours, per CoinMarketCap.</p><a href="https://u.today/xrp-hits-bullish-reversal-bitcoin-faces-great-reset-risk-mike-mcglone-warns-second-biggest-shib" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

XRP Hits Bullish Reversal, Bitcoin Faces 'Great Reset' Risk, Mike McGlone Warns; Second Biggest SHIB Wallet Sees Mysterious Transfers: Crypt...

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