Cryptocurrency Daily Thefoxposts.com

Eth price trades at a key resistance level, but data highlights why the altcoin could struggle to hold $1,900. Ether (ETH) price surged by 6.2% from Nov. 3 to Nov. 5, but the altcoin faces difficulty in breaking the $1,900 resistance. Despite the current bullish trend, Ether's 17% return over the last 30 days falls short of Bitcoin's (BTC) impressive 27% gain during the same period. Regulatory hurdles and ecosystem centralization critiques linger Analysts attribute some of Ether’s underperformance to uncertainty surrounding Consensys, a key player in the Ethereum ecosystem. Former employees have filed a lawsuit against the company and its co-founder, Joseph Lubin. Over two dozen shareholders of the Swiss-based holding company, Consensys AG, claim that Lubin, who is also a co-founder of Ethereum, violated a "no-dilution promise" made in 2015. Consensys is responsible for developing and hosting infrastructure projects crucial to the Ethereum network. It was founded i...

BTC and altcoins are pulling back sharply, but is today’s correction a simple lower support retest, or a sign of worse things to come? The United States equities markets saw their worst performance of 2023 as concerned investors dumped stocks on Feb. 21, fearing continued rate hikes by the U.S. Federal Reserve. Although the cryptocurrency Markets also gave back some of the gains, the fall was comparatively muted. UTXO Management senior analyst Dylan LeClair said that Bitcoin’s (BTC) correlation to the S&P 500 index has fallen to the lowest since late 2021. After the sharp recovery from the lows, Glassnode data showed that only 21% of the coins sent by Long-Term Holders to exchanges at the start of this week moved at a loss. That is a huge improvement from mid-January when 56% of LTH coins sent to exchanges were moved at a loss. Daily cryptocurrency market performance. Source: Coin360 The decoupling of the crypto and the U.S. equities markets is a positive sign but traders must re...