u.today
Shiba Inu breaks from exhaustion pattern with 11% December rally
SHIB breaks out with an 11% run in a market frozen by extreme fear.
- SHIB rally. SHIB has kicked off December with an unexpected 11% gain over the past 10 days.
The biggest meme coin on Ethereum, Shiba Inu (SHIB), is starting December with a price pattern that refuses to match the exhausted narrative many attached to the meme coin over the past few months because, after shedding liquidity and sentiment for weeks, it suddenly posted an 11% gain across 10 days.
What makes this move more noticeable is the market backdrop, where the Fear and Greed Index still sits deep in fear territory at 22 after printing extreme fear at 16 yesterday and 15 last week. So, it is fair to say that SHIB pushing higher inside that environment tells you the asset is moving on chart mechanics rather than collective mood.
Bitwise XRP ETF gains access on Vanguard
$10 trillion financial giant Vanguard now offers exposure to Bitwise's XRP ETF among other products.
- Big institutional move. Bitwise’s XRP ETF can now be traded by Vanguard clients.
Bitwise's XRP exchange-traded fund is now available for Vanguard clients, according to a recent social media post by chief executive officer Hunter Horsley. It began trading on Nov. 20, securing rather impressive inflows.
Vanguard, the world's second-largest asset manager with over $11 trillion in assets under management, has long been a conservative powerhouse in traditional investing.
For years, it has outright banned crypto-related products on its platform. It even blocked access to spot Bitcoin ETFs when they launched in January 2024. However, as reported by Bloomberg, more than 50 million of Vanguard's customers will be able to start trading select crypto ETFs and mutual funds that hold cryptocurrency assets.
Brandt: BTC may rally big after deeper correction
Peter Brandt showed Bitcoin moving on previously repeated patterns, which suggest that the ongoing price correction may not be over yet.
- Next parabolic rise. Peter Brandt warns BTC could face a major correction before its next rally.
Peter Brandt, veteran crypto trader and Bitcoin advocate, has spilled a hard truth on Bitcoin’s price pattern in a recent X post on Monday, December 1st. The trader shared a rare analysis suggesting that the leading cryptocurrency will see a massive price rally in the future, but it may plunge harder first.
In his post, Peter Brandt shared a long-term Bitcoin chart that shows repeated patterns in all Bitcoin’s bull cycles since its launch. Brandt warned that Bitcoin might still be headed for a deeper correction, as its previous bull markets have all ended the same way.
Despite the slowing exponential growth, Peter Brandt predicted that the next major bull cycle could still carry BTC toward 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 to go offline.
- ETH outage. A bug in the Prysm consensus client caused roughly 23% of the Ethereum network to go offline early Thursday.
An issue with the Prysm consensus client on mainnet saw about 23% of the Ethereum network going offline. In the early hours of Thursday, the Ethereum Foundation alerted the community about an issue with the Prysm consensus client on mainnet, urging node operators to reconfigure their CL nodes. This only affected those utilizing Prysm clients, with other network clients unaffected.
In a confirmation tweet, Ethereum client Prysm stated that it had identified the issue and promised a quick workaround. It urged dependent nodes to disable the Prysm client. Commenting on the data presented, Sassal noted it was accurate, with about 23% of the network going offline due to a bug with Prysm.
Billy Markus speaks out on recent crypto crash
Dogecoin creator has shared what appears like sarcastic commentary on the latest crypto market crash.
- Manipulation claims. Dogecoin creator Billy Markus reacted to the latest crypto crash, calling claims of “manipulation”.
The recent crypto crash has sparked reactions from players in the sector, with Billy Markus dropping a reaction post on X.
Notably, reacting to the prevailing sentiments in some quarters that the crypto market crashed as a result of manipulation, Markus dismissed it as an emotional response. He mocked those who always believe that when the prices of crypto assets dip, it is the result of whale manipulation.
Some market participants are quick to blame large holders in the space for dumping their assets on the market to create selling pressure. They believe that 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 pumps are super organic."