Shiba Inu breaks its exhaustion pattern with an 11% rally in December
SHIB explodes with a run of 11% in a market frozen by extreme fear.
- SHIB demonstration. SHIB started December with an unexpected 11% gain in the last 10 days.
Ethereum’s largest meme coin, Shiba Inu (SHIB), enters December with a price pattern that refuses to match the exhausted narrative that many have attributed to the meme coin over the past few months because, after losing liquidity and sentiment for weeks, it suddenly posted an 11% gain in 10 days.
What makes this move more notable is the market context, where the Fear and Greed Index is still deep in fear territory at 22 after showing extreme fear at 16 yesterday and 15 last week. Therefore, it is fair to say that SHIB rising within that environment tells you that the asset is moving based on the mechanics of the chart rather than the collective mood.
Bitwise XRP ETF Gains Access to Vanguard
Vanguard, the $10 trillion financial giant now offers exposure to Bitwise’s XRP ETF, among other products.
- Great institutional movement. Vanguard clients can now trade the Bitwise XRP ETF.
Bitwise’s XRP exchange-traded fund is now available to Vanguard clients, according to a recent social media post by CEO Hunter Horsley. It began trading on November 20, achieving quite impressive entries.
Vanguard, the world’s second-largest asset manager with more than $11 trillion in assets under management, has long been a conservative powerhouse in traditional investing.
For years, it has completely banned cryptocurrency-related products from its platform. It even blocked access to spot Bitcoin ETFs when they launched in January 2024. However, as Bloomberg reported, more than 50 million Vanguard clients will be able to start trading cryptocurrency ETFs and select mutual funds containing cryptocurrency assets.
Brandt: BTC can recover much after deeper correction
Peter Brandt presented Bitcoin is following previously repeated patterns, suggesting that the ongoing price correction may not be over yet.
- Next parabolic rise. Peter Brandt warns that BTC could face a major correction before its next rally.
Veteran cryptocurrency trader and Bitcoin advocate Peter Brandt has told a harsh truth about Bitcoin’s price pattern in a recent X post on Monday, December 1. The trader shared a rare analysis that suggests the leading cryptocurrency will see a massive price rally in the future, but it may fall harder first.
In his post, Peter Brandt shared a long-term Bitcoin chart that shows repeating patterns in all Bitcoin bull cycles since its launch. Brandt warned that Bitcoin could still be headed for a deeper correction, as all of its previous bull markets ended the same way.
Despite the slowdown in exponential growth, Peter Brandt predicted that the next big bull cycle could still take BTC towards the $200,000 to $250,000 level.
Ethereum sees 23% of network go offline after Prysm client bug
A bug in an Ethereum consensus client on the mainnet caused Approximately 23% of the Ethereum network will go offline.
- ETH disruption. A bug in the Prysm consensus client caused approximately 23% of the Ethereum network to go offline early Thursday morning.
An issue with the Prysm consensus client on the mainnet caused approximately 23% of the Ethereum network to go offline. In the early hours of Thursday, the Ethereum Foundation alerted the community to an issue with the Prysm consensus client on the mainnet, urging node operators to reconfigure their CL nodes. This only affected those using Prysm clients, and other clients on the network were not affected.
In a confirmation tweet, Ethereum client Prysm stated that it had identified the issue and promised a quick fix. Urged dependent nodes to disable the Prysm client. Commenting on the data presented, Sassal noted that it was accurate, with approximately 23% of the network going offline due to a bug with Prysm.
Billy Markus talks about the recent crypto crash
Dogecoin Creator has shared which seems like a sarcastic comment on the latest crypto market crash.
- Tampering claims. Dogecoin creator Billy Markus reacted to the latest cryptocurrency crash, calling the claims “manipulation.”
The recent cryptocurrency crash has sparked reactions from players in the sector, with Billy Markus dropping a reaction post about X.
Notably, reacting to prevailing sentiments in some quarters that the cryptocurrency market collapsed as a result of manipulation, Markus dismissed it as an emotional response. He mocked those who always believe that when crypto asset prices drop, it is the result of manipulation by whales.
Some market participants are quick to blame large holders in the sector for selling their assets in the market to create selling pressure. They believe these whales turn around to buy the token at a lower price, a move considered manipulation.
However, Markus exposed the error in such reasoning when he stated: “Remember, all dumps are manipulation and all bombs are super organic.”
