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Why $70,000 Is the Most Critical Level Right Now

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Why $70,000 Is the Most Critical Level Right Now

Bitcoin continues to face intense selling pressure, breaking below its yearly lows amid escalating geopolitical tensions between the United States and Iran. This risk-off backdrop has accelerated downside momentum, and while further weakness remains possible, the market is increasingly approaching levels that could trigger a short-term consolidation phase in the days ahead.

Bitcoin Price Analysis: The Daily Chart

On the daily timeframe, BTC has been hit by aggressive sell-side activity, driving the price decisively below key support levels, including the major yearly low at $74K. The decline has now extended into the $70K psychological zone, a historically significant area where resting demand and dip-buying interest are likely to emerge.

If this demand region succeeds in absorbing selling pressure and fresh buyers step in, the current downtrend may pause, allowing the market to transition into a corrective consolidation phase. In that scenario, the price action would likely stabilize within a $70K–$80K range as the market cools off. However, a clear failure to hold the $70K level would expose Bitcoin to another downside leg, with the next notable support located near the $63K region.

BTC/USDT 4-Hour Chart

From a lower-timeframe perspective, the 4-hour chart shows Bitcoin trading within a well-defined bearish channel, confirming a structurally weak market environment. The asset recently broke below the channel’s midline near $74K, triggering an impulsive sell-off toward the lower boundary of the structure.

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Despite the sharp decline, Bitcoin has now reached a critical support level at $70K, which also carries strong psychological importance for market participants. Given the speed and intensity of the recent move, the market is likely in need of a consolidation and corrective phase. As a result, the most probable near-term scenario is choppy, range-bound price action around the $70K support until a clearer directional signal emerges. In the event of a relief bounce, the $75K and $80K supply zones stand out as the primary upside targets.

Sentiment Analysis

The futures average order size chart shows a notable shift in participant behavior as Bitcoin trades around the $70K region. The appearance of green dots at this level signals renewed whale participation, indicating that large players are actively engaging when price revisits this zone. Importantly, this is not an isolated event. The previous two occasions when Bitcoin traded around the same price range were also accompanied by green dots, reinforcing the idea that this area has historically attracted whale interest.

This repeated pattern suggests that the $70K region is perceived by large market participants as a favorable accumulation or positioning zone rather than an area for aggressive distribution. In contrast to periods dominated by red dots, which reflect retail-heavy or reactive selling, the return of green dots points to more strategic, higher-conviction activity in the futures market.

If this behavior persists and whale participation continues to strengthen around current levels, it increases the probability of a short- to mid-term rebound. Large orders entering at these prices can absorb selling pressure and act as a catalyst for stabilization, potentially setting the stage for a relief move higher if broader market conditions allow.

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X Reverses Cryptocurrency Advertising Ban with New Disclosure Rules

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

Key Takeaways

  • Platform reverses prohibition on compensated cryptocurrency advertising
  • Mandatory disclosure labels required for all paid crypto content
  • Geographic restrictions apply based on local regulatory requirements
  • New transparency framework balances monetization with compliance
  • Policy shift enables creator earnings while maintaining oversight

The social media platform X has reversed its prohibition on paid cryptocurrency and gambling advertisements, creating new opportunities for content creators and marketing partners. The platform now permits compensated digital asset content through a structured disclosure program. Mandatory labeling requirements and location-based restrictions form the compliance foundation.

Disclosure System Governs Cryptocurrency Marketing on Platform

Cryptocurrency and related financial instruments have been removed from X’s restricted categories for paid partnerships. This policy modification reverses limitations that existed since mid-2024. Content creators now have authorization to earn revenue from digital asset promotions.

The company established a Paid Partnership designation to regulate compensated promotional activities. All creators must transparently identify financial arrangements when endorsing cryptocurrency offerings. Adherence to relevant advertising standards and consumer protection regulations is mandatory.

X makes clear distinctions between Paid Partnership content and traditional advertising products. As a result, certain material prohibited under partnership guidelines may qualify through alternative X Ads channels. This framework enables the platform to maintain disclosure standards while facilitating revenue generation.

Geographic Boundaries Define Promotion Accessibility

Despite removing the worldwide prohibition, specific territories continue restricting crypto promotions. Nations including the United Kingdom, European Union member states, and Australia enforce rigorous financial advertising regulations. X mandates that creators block paid cryptocurrency material from these jurisdictions.

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Content creators hold direct responsibility for geographic compliance under the revised guidelines. X anticipates users will comprehend regional financial marketing requirements prior to posting compensated material. This framework assigns accountability to individual influencers and commercial collaborators.

X maintains prohibitions on numerous industry categories for paid partnerships. The restricted list continues blocking adult services, alcoholic beverages, relationship platforms, controlled substances, tobacco products, and weaponry. Commercial advertising related to political or social causes also remains forbidden.

Market Response and Platform Development Direction

The crypto community has demonstrated varied responses to the policy transformation. Certain participants celebrated restored monetization capabilities following extended restrictions. Alternative voices cautioned that enforcement complexities might generate ambiguity regarding unpaid token recommendations.

Industry observers suggest enhanced labeling standards could transform influencer marketing approaches on X. They predict informal promotional tactics may diminish under heightened disclosure requirements. Nevertheless, marketing organizations now possess a structured framework for regulation-compliant cryptocurrency initiatives.

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This policy transformation corresponds with additional platform innovations currently developing at X. Platform owner Elon Musk recently validated intentions to deploy X Money in restricted beta testing soon. Furthermore, X intends to introduce Smart Cashtags functionality enabling direct equity and cryptocurrency transactions.

X has historically functioned as a primary gathering space for cryptocurrency enterprises and enthusiasts. Consequently, the policy reversal reestablishes a recognized marketing avenue while incorporating regulatory safeguards. These modifications demonstrate X’s effort to harmonize regulatory obligations with viable creator compensation models.

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Hong Kong links up with Shanghai trade authorities to put cargo data on blockchain

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Hong Kong links up with Shanghai trade authorities to put cargo data on blockchain

Hong Kong is doubling down on its role as China’s financial bridge, signing a new agreement with Shanghai authorities to build cross-border blockchain rails for cargo trade and trade finance.

The memorandum of understanding between the Hong Kong Monetary Authority, the Shanghai Data Bureau, and the National Technology Innovation Center for Blockchain, announced Monday afternoon in Hong Kong, formalizes plans to develop a shared digital platform linking trade data, electronic bills of lading, and financing systems.

The MoU signals growing adoption of bitcoin in real-world plumbing, targeting $1.5 trillion in annual cargo finance where paper work and jams still cost a lot in delays in fraud.

By plugging mainland cargo data into Hong Kong’s international-facing infrastructure, officials aim to reduce friction in cross-border trade while reinforcing the city’s status as the primary conduit between China and global capital markets.

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Under the agreement, the parties will study the creation of a cross-border platform under the HKMA’s Project Ensemble framework. The initiative will explore the use of electronic bills of lading and blockchain-based documentation to streamline trade finance, while connecting with Hong Kong’s Commercial Data Interchange and CargoX to facilitate secure data sharing.

For Hong Kong, the move extends its digital asset strategy beyond tokenized green bonds and into the real economy. Instead of focusing solely on sovereign issuance or crypto markets, regulators are targeting the operational bottlenecks in cargo finance, where paper documents, fragmented data, and manual verification continue to slow credit decisions.

If successful, the platform could embed Hong Kong deeper into mainland supply chains while offering international investors and banks a compliant gateway to Chinese trade data. In doing so, the city is attempting to turn blockchain from a pilot project into core cross-border financial infrastructure.

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AWS Data Centers in UAE Disrupted After Strikes Amid Rising Gulf Conflict

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AMZN Stock Card

Key Takeaways

  • Unidentified objects impacted AWS facilities in the UAE on Sunday, triggering fires and service disruptions
  • Emergency services cut power to affected zones; a secondary UAE location experienced additional electrical issues
  • Bahrain-based AWS infrastructure also experiencing power supply and network connectivity challenges
  • Timing aligns with Iranian military response throughout the Gulf region, though AWS hasn’t established direct causation
  • Customers advised to migrate workloads to alternative regions while restoration efforts continue over several hours

Amazon’s cloud computing division experienced significant service interruptions following an incident where unknown projectiles hit its United Arab Emirates facility on Sunday, resulting in fire damage and electrical system failures.

The disruption began approximately 4:30 p.m. local time in Dubai. Emergency response teams disabled the facility’s electrical infrastructure to control the resulting flames.

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According to AWS’s official service health dashboard, “objects struck the data center, creating sparks and fire” at one of its UAE-based availability zones.


AMZN Stock Card
Amazon.com, Inc., AMZN

Subsequently, another UAE availability zone encountered what the company characterized as a “localized power issue,” further extending the scope of regional service degradation.

The cloud infrastructure provider additionally documented electrical and network connectivity complications affecting one of its Bahrain deployment zones.

The company instructed affected customers to redirect their operations to infrastructure located in unaffected geographic regions during remediation. AWS projected that full restoration would require “multiple hours away.”

These technical failures occurred simultaneously with Iranian military operations targeting the UAE, part of a coordinated retaliatory campaign spanning the Middle East following joint US and Israeli strikes that resulted in the deaths of Supreme Leader Ayatollah Ali Khamenei and additional high-ranking Iranian leadership.

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Tehran’s response encompassed multiple territories, with projectile and unmanned aerial vehicle assaults documented against American military installations and allied nations including the UAE, Qatar, Kuwait, and Saudi Arabia.

AWS has neither acknowledged nor dismissed any direct correlation between the facility damage and Iranian military actions. Company representatives provided no statement when approached for comment.

Impact on UAE-Based AWS Clients

Prominent AWS enterprise customers operating in the UAE include Al Ghurair Investment LLC and Dubai Islamic Bank.

The cloud provider maintains 123 availability zones distributed across 39 geographic regions worldwide, establishing extensive infrastructure redundancy — though regional concentration still created vulnerability in this scenario.

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Ongoing Restoration Efforts

AWS initially communicated progress toward service restoration early Monday but subsequently revised its status, continuing to direct users toward alternative regional infrastructure.

As of Monday morning in Dubai, both affected UAE availability zones along with the single Bahrain zone continued experiencing service degradation.

Shares of Amazon (AMZN) traded up 1.00% at the most recent market check.

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Riot, Core earnings, U.S. jobs report: Crypto Week Ahead

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Riot, Core earnings, U.S. jobs report: Crypto Week Ahead

Earnings reports are still rolling in. This week Riot Platforms, the fourth-largest bitcoin miner by market cap, is due to report, as is Core Scientific, the No. 6.

Like many of their peers, the two are using their experience running large data centers and negotiating power-supply deals to expand into AI. Core, whose proposed $9 billion purchase by CoreWeave (CRWV) failed in October, barely mentions digital asset mining on its homepage. It will be interesting to see how much of its business still comes from that source.

Also due this week is the U.S. jobs report for February. The world’s largest economy is forecast to have added 60,000 nonfarm positions last month, according to the consensus estimate on Trading Economics.

Traders will also be monitoring the war in the Middle East, which has seen the U.S. and Israel strike Iran in what President Donald Trump called “major combat operations” targeting the country’s missile, naval and nuclear infrastructure.

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Iran has retaliated with attacks on various countries in the region that host U.S. military bases. The conflict has been escalating with Iran-backed militias joining in. Trump has said it’s expected to last “four to five weeks,” so an earlier-than-expected truce could bring risk appetite back.

What to Watch

(All times ET)

  • Crypto
    • March 2: SuperRare to release Delirium, a new collection by artist Xer0x
    • March 2: Mantra’s OM token to change to MANTRA with a 1:4 coin split as the Mantra chain upgrades from v6 to v7.
    • March 3: SolCex mobile app to debut on Google Play and Apple’s App Store.
    • March 4: Qubic begins testing parallel dogecoin mining and AI training
  • Macro
    • March 2, 10:00 a.m.: U.S. ISM manufacturing PMI for February est. 52.3 (Prev. 52.6)
    • March 3, 5:00 a.m.: Eurozone inflation rate YoY flash for February (Prev. 1.7%); Core YoY (Prev. 2.2%)
    • March 3, 7:30 p.m.: Australia GDP growth rate QoQ for Q4 (Prev. 0.4%)
    • March 3, 8:30 p.m.: China NBS manufacturing PMI for February (Prev. 49.3)
    • March 4, 8:15 a.m.: U.S. ADP employment change for February (Prev. 22K)
    • March 4, 10:00 a.m.: U.S. ISM services PMI for February (Prev. 53.8)
    • March 4, 2:00 p.m.: U.S. Fed Beige Book
    • March 5, 8:30 a.m.: U.S. initial jobless claims for week ending Feb. 28 (Prev. 212K)
    • March 5, 8:30 a.m.: U.S. nonfarm productivity QoQ prel for Q4 (Prev. 4.9%)
    • March 5, 4:30 p.m.: U.S. Fed balance sheet update for period ending March 4
    • March 6, 8:30 a.m.: U.S. nonfarm payrolls for February Est. 60K (Prev. 130K)
    • March 6, 8:30 a.m.: U.S. unemployment rate for February (Prev. 4.3%)
    • March 6, 8:30 a.m.: U.S. average hourly earnings MoM for February (Prev. 0.4%)
    • March 6, 8:30 a.m.: U.S. retail sales control group MoM for January (Prev. 0.0%)
    • March 8, 8:30 p.m.: China inflation rate YoY for February (Prev. 0.2%)
  • Earnings (Estimates based on FactSet data)
    • March 2: Riot Platforms (RIOT), post-market, -$0.32
    • March 2: Core Scientific (CORZ), post-market, -$0.18
    • March 6: Metalpha (MATH), pre-market
    • March 9: Sharplink (SBET), pre-market, $0.31
    • March 11: Exodus Movement (EXOD), pre-market, $0.14

Token Events

  • Governance votes & calls
    • PoolTogether DAO is voting to manually resubmit and execute the remaining actions for the PTBR-35 governance shutdown after a previous execution error. Voting ends March 2.
    • Angle DAO is voting on an orderly wind-down of the EURA and USDA stablecoins, providing users a one-year 1:1 redemption period followed by a final settlement airdrop. Voting ends March 2.
    • GMX DAO is voting to transition to a defined leadership model by hiring a CEO with performance-tied compensation and forming an interim leadership committee to guide the restructuring. Voting ends March 2.
    • ShapeShift DAO is voting to appoint PTT as the Tokenomics Workstream Leader for a six-month term, compensated entirely in FOX tokens to eliminate stablecoin costs. Voting ends March 3.
    • Decentraland DAO is voting to explore the automatic execution of approved proposals and soft term limits for signer keys while maintaining emergency oversight. Voting ends March 3.
    • Uniswap DAO is voting across two linked proposals to expand v2 and v3 protocol fees to eight layer-2 networks and enable a new tier-based fee system across all v3 pools. Voting ends March 4 and 5.
    • ENS DAO is voting to replace three DNSSEC oracle algorithms to patch a critical RSA signature forgery vulnerability and significantly reduce gas costs. Voting ends March 4.
    • Gnosis DAO is voting to provide a grant to fund the continued support, infrastructure and maintenance of the Revoke.cash security platform. Voting ends March 5.
  • Unlocks
    • March 5: Ethena (ENA) to unlock 2.24% of its circulating supply worth $18.35 million.
    • March 6: Hyperliquid (HYPE) to unlock 2.72% of its circulating supply worth around $288.77 million.
  • Token Launches
    • March 8 or earlier: Chiliz (CHZ) to deploy revenue from the protocol to buyback and burn CHZ tokens.
    • March 8 or earlier: WhiteBit Token (WBT) to be listed on Kraken.

Conferences

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XRP price prediction as XRP futures trading rises

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XRP price prediction as XRP futures trading rises - 2

The XRP market is undergoing a structural shift as trading dynamics move from spot accumulation to a derivatives-led environment.

Summary

  • XRP is shifting from spot-driven accumulation to a speculative, futures-led market, signaling an impending “volatility squeeze” as leveraged traders position for a major move.
  • The price remains trapped below the 50-day SMA ($1.63) with a neutral-to-bearish RSI of 39, indicating a lack of buying pressure despite the surge in trading activity.
  • Traders are eyeing $1.20 as the “must-hold” support floor, while a breakout above the $1.50–$1.80 resistance range is required to confirm a bullish reversal.

Recent Coinglass data reveals a significant uptick in XRP futures volume relative to spot trading, signaling that speculative interest is once again a primary price driver. This surge in futures activity typically precedes a “volatility squeeze,” where the price breaks sharply as leveraged positions are either rewarded or liquidated.

XRP price prediction as XRP futures trading rises - 2

For the Ripple token (XRP), this suggests the market is no longer in a state of passive holding but is bracing for a decisive move.

This futures-dominated landscape makes the price more susceptible to rapid squeezes; while it provides the liquidity needed to break overhead resistance, it also warns that any downside could be exacerbated by a cascade of liquidations.

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XRP price navigates critical support

Technically, XRP is navigating a precarious path, currently trading near $1.35 as of March 2026. The price action remains pinned below the 50-day Simple Moving Average (SMA) at $1.63, which acts as a formidable dynamic resistance.

XRP price prediction as XRP futures trading rises - 3
XRP price performance | Source: Crypto.News

Until XRP secures a daily close above this level, the medium-term bias remains bearish. Recent candlestick patterns show a string of small-bodied “doji” candles, reflecting market indecision despite the rising futures turnover.

The Relative Strength Index (RSI) currently hovers around 39, placing the asset in a neutral-to-bearish zone that lacks the immediate buying pressure required for a reversal.

Immediate support is firmly established at the $1.20 mark, a level that has historically served as a psychological safety net. Should XRP fail to hold $1.20, a deeper retracement toward $1.00 becomes a distinct possibility.

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Conversely, the first major hurdle for a bullish recovery sits at $1.50, followed by a high-volume resistance zone at $1.80.

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Aave Proposal Clears First Hurdle After Split Vote

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Aave Proposal Clears First Hurdle After Split Vote

Aave’s “Aave Will Win” framework has passed its Temp Check vote, clearing the first formal stage of the protocol’s governance process. 

On Sunday, the off-chain Snapshot vote closed with 52.58% voting in favor, 42% against and 5.42% abstaining. The result advances the measure to the Aave Request for Final Comment (ARFC) stage, where terms may be revised before any binding on-chain vote.

The framework asks tokenholders to approve up to $42.5 million in stablecoins and 75,000 Aave (AAVE) tokens for Aave Labs. In return, the organization would route 100% of revenue from Aave-branded products to the Aave DAO treasury under a DAO-funded operating model. 

The narrow margin highlights a divided governance base as the protocol considers structural changes to its funding, revenue alignment and long-term development. 

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Aave DAO’s Temp Check voting results. Source: Snapshot

The ARFC stage will determine whether concerns raised during the debate will translate into revisions before a formal Aave Improvement Proposal is submitted on-chain. 

Split vote reflects ongoing governance tensions

Aave founder Stani Kulechov said in a post on X that the Temp Check brings the protocol closer to a “fully token-centric model,” adding that structural improvements will be incorporated at the ARFC stage based on community feedback.

Source: Stani Kulechov

Critics previously questioned the size of the funding package and the inclusion of 75,000 AAVE tokens, which carry voting power.

Others called for clearer definitions and stronger disclosure standards around governance holdings. 

Related: Grvt integrates Aave so traders can earn yield on perp collateral

On Feb. 25, competing reports from Aave Chan Initiative (ACI) founder Marc Zeller and Aave Labs offered contrasting interpretations of past funding and value creation ahead of the vote. 

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The ACI published a transparency report reviewing Aave Labs’ historical funding, while Aave Labs outlined its role in building the protocol since 2017. 

What happens next in Aave governance process?

Under Aave’s governance framework, proposals typically move from Temp Check to ARFC before advancing to an on-chain Aave Improvement Proposal (AIP) vote. Only AIPs executed on-chain are binding. 

If the proposal advances beyond ARFC, tokenholders will vote on whether to formalize the DAO-funded model and ratify Aave V4 as the long-term technical foundation.

The outcome could reshape how the Aave ecosystem structures development, revenue and brand stewardship.

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