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Onyxcoin (XCN) Price Recovery Plagued By Massive Outflows

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Onyxcoin (XCN) had been in a three-week-long downtrend, erasing much of the gains it made in January. While the altcoin is preparing for a potential bullish breakout, it faces challenges in ensuring a strong recovery. 

Continued outflows and investor sentiment are proving to be key hurdles for XCN’s recovery.  

Onyxcoin Investors Are Pulling Back

The network growth indicator for Onyxcoin has recently reached a monthly low, signaling a decrease in new addresses on the network. This metric helps gauge how well the altcoin is gaining traction among new investors. Unfortunately for XCN, the prolonged decline has resulted in a loss of interest from potential buyers.  

The drop in network growth reflects waning confidence, which is impacting XCN’s ability to recover. With fewer new participants entering the market, XCN is struggling to build momentum, leaving the altcoin more vulnerable to further downside risks. For a meaningful recovery, the altcoin will need to attract fresh investor interest.  

XCN Network Growth
XCN Network Growth. Source: Santiment

Onyxcoin’s broader momentum is showing signs of weakness, as indicated by the Chaikin Money Flow (CMF). The CMF has exhibited a sharp downtick over the last few days, suggesting that money is flowing out of the asset. This pullback could reflect growing investor frustration with the lack of price recovery.  

The decline in the CMF is a sign that XCN holders are pulling their funds, possibly due to the prolonged downtrend. If this trend continues, it could delay or even prevent a full recovery, as outflows put downward pressure on the price. Without a shift in market sentiment, Onyxcoin could continue to face challenges.  

XCN CMF
XCN CMF. Source: TradingView

XCN Price Prediction: Breakout May Not Materialize

XCN’s price is breaking out of a descending wedge pattern it had been stuck in for nearly four weeks. This bullish pattern typically signals a potential 66% rally post-breakout, with the target price set at $0.0398. However, achieving this level will depend on overcoming the challenges posed by current market conditions.  

Firstly, the altcoin needs to secure $0.0237 as support. If investor behavior improves and broader market conditions become more favorable, XCN could rise toward $0.0358. However, this scenario will require stronger investor confidence and positive market cues.

XCN Price Analysis.
XCN Price Analysis. Source: TradingView

A more realistic approach, based on the current market sentiment, suggests XCN might hover around the $0.0237 level. Losing this support could result in a consolidation period, with the price potentially dropping to $0.0184. This would prolong the altcoin’s downtrend and prevent any immediate recovery.  

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Could Regain Momentum—Is a Bullish Reversal in Sight?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Bitcoin ETFs End Dry Spell with Fresh Capital

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After seven straight days of outflows, institutional investors seem to have rekindled their love for Bitcoin ETFs. Since April 2, US-listed spot Bitcoin ETFs have posted net inflows for the first time, drawing $1.47 million in fresh capital on Monday.

While this figure is modest, it marks a notable shift in sentiment and the first sign of renewed institutional appetite for Bitcoin exposure through regulated funds.

Bitcoin ETFs End 7-Day Drought With Modest Inflows

Last week, Bitcoin investment funds recorded $713.30 million in net outflows as the broader cryptocurrency market struggled to stay afloat amid the growing impact of Donald Trump’s escalating trade war rhetoric.

But the tide may be starting to turn.

On Monday, U.S.-listed spot BTC ETFs recorded $1.47 million in net inflows, marking the first capital flow into these funds since April 2. While the amount is modest, it breaks a nearly two-week drought and could signal a gradual shift in institutional sentiment toward BTC.

Bitcoin Spot ETF Net Inflow.
Bitcoin Spot ETF Net Inflow. Source: SosoValue

The largest daily net inflow came from BlackRock’s IBIT, attracting $36.72 million. This brings its total cumulative net inflows to $39.60 billion.

On the other hand, Fidelity’s FBTC recorded the largest net outflow on Monday, shedding $35.25 million in a single day. 

BTC Derivatives Market Heats Up Despite Cautious Options Flow

On the derivatives side, BTC’s futures open interest has edged higher over the past 24 hours, signaling increased derivatives activity. 

At press time, this sits at $56 billion, rising by 2% in the past day. Notably, during the same period, BTC’s period has climbed by 1.22%. 

BTC Futures Open Interest.
BTC Futures Open Interest. Source: Coinglass

BTC’s futures open interest refers to the total number of outstanding futures contracts that have yet to be settled. When it rises during a price uptick like this, it suggests that new money is entering the market to support the upward move, potentially reinforcing bullish momentum.

However, there’s a catch. While open interest in BTC futures has increased, the nature of these new positions appears to be bearish. This is evident in the coin’s funding rate, which has now flipped negative for the first time since April 2.

BTC Funding Rate.
BTC Funding Rate. Source: Coinglass

This means that more BTC traders are paying to hold short positions than longs, suggesting that a growing number of market participants are betting on a potential pullback despite the modest inflows into spot ETFs.

Moreover, the mood remains cautious on the options side. Today, there are more put contracts than calls, signaling that some traders may be hedging their bets or anticipating further downside, even as other indicators turn bullish.

BTC Options Open Interest.
BTC Options Open Interest. Source: Deribit

Still, for BTC ETFs, any inflow after two weeks of silence feels like a win. With the broader market sentiment toward the coin turning increasingly bullish, it remains to be seen if this trend could persist for the remainder of the week. 

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Trump’s Tariffs Spark Search for Jerome Powell’s Successor

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The Trump administration is gearing up for significant economic shifts, with its proposed tariffs said to be setting the stage for a potential overhaul of the Federal Reserve’s (Fed) leadership.

Like Gary Gensler’s ouster at the SEC (Securities and Exchange Commission), reports indicate that Fed chair Jerome Powell may face a similar fate with discussions starting long before his term ends.

Jerome Powell’s Exit Planned As Trump Tariffs Spell Economic Hardship

Treasury Secretary Scott Bessent announced the Trump administration’s plans to interview candidates to replace Fed Chair Jerome Powell.

Notably, Powell’s term as Fed chair ends in May 2026, over a year out. With almost 13 months left, experts suggest the administration’s move may be a strategic response to the economic turbulence expected from Trump’s aggressive tariff policies in 2025.

The sentiment is that the Trump administration may pave the way for a new Fed Chair to steer the economy through 2026 with interest rate cuts and stimulus measures.

“The interest rates affect credit cards, they’ll affect auto loans, the bottom 50% of Americans over the past two years have gotten crushed by these high interest rates. We’re set on bringing interest rates down,” Bessent claimed in a televised interview.

Trump’s tariff proposals, including a 125% tax on Chinese imports, are projected to impact the US economy substantially. According to a Tax Foundation study published on April 11, 2025, these tariffs could reduce US GDP by 1.3% in the long run.

The study also estimates tariffs will amount to an average tax increase of $1,300 per US household in 2025. This adds pressure on consumers already grappling with inflationary concerns.

Combined with foreign retaliation affecting $330 billion of US exports, the overall GDP reduction could reach 1.0%. This highlights the economic challenges the administration anticipates in the coming year.

Trump Administration Prepares For 2026 Economic Recovery

This report comes a month after Bessent presented Fed Chair Jerome Powell as a significant obstacle. He alluded that Powell impeded the Trump administration’s determination to lower interest rates.

Indeed, the Federal Open Market Committee (FOMC), led by Powell, has rejected interest rate cuts. They maintain this stance until they are comfortable with inflation cooling.

The Fed also made significant downward revisions to its 2025 economic projections. They painted a picture of weaker growth and persistent inflation.

According to economists, the Trump Administration is bracing for “economic weakness” in 2025 due to the tariffs. However, it sees 2026 as a year of recovery through monetary policy adjustments.

“This sets up perfectly for 2026 to be the year of interest rate cuts and economic stimulus, with the newly appointed Fed Chair,” The Kobeissi Letter said.

Therefore, the timing of Powell’s replacement aligns with these economic projections. A new Fed Chair, potentially more aligned with Trump’s economic agenda, could facilitate interest rate cuts and stimulus to counteract the tariff-induced slowdown.

Jerome Powell has served as Fed Chair since 2018. He has maneuvered a complex economic environment, which included high inflation and the post-pandemic recovery.

His second term, confirmed in May 2022, has been characterized by efforts to balance the Fed’s dual mandate of stable prices and full employment. However, this has been met with criticism, including from President Trump, for not being accommodative enough.

“The Fed would be much better off cutting rates as US tariffs start to transition (ease) their way into the economy. Do the right thing,” Trump shared on Truth Social.

The early search for his successor indicates the administration’s desire for a Fed Chair who might be more amenable to its policy goals.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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