Ethereum is under pressure after sliding below the $4,200 level, with price now testing the $4,000 support zone. The market is watching closely, as a breakdown here could expose ETH to deeper corrections, while a strong defense may open the door for a rebound. Despite the selling pressure, on-chain signals reveal a strikingly different picture beneath the surface.

Related Reading

Top analyst Darkfost shared data showing that ETH inflows into accumulator addresses are exploding, signaling long-term conviction even as short-term sentiment wavers. Just yesterday, nearly 400,000 ETH were added to these specialized wallets. More notably, on September 18th, Ethereum saw a historic first when 1.2 million ETH were accumulated in a single day — a record for the network.

Accumulator addresses are unique in that they only buy ETH and never sell, making them a reliable proxy for long-term holder behavior. Such massive inflows highlight that large players are strategically building positions, likely tied to institutional adoption and the growing demand for ETH ETFs.

Long-Term Conviction Amid Pressure

According to Darkfost, Ethereum’s inflows into accumulator addresses mark one of the most important trends developing beneath the surface of current market volatility. He explains that accumulator addresses are wallets that have made at least two ETH transactions without ever selling a single coin. This behavior makes them reliable indicators of long-term holder conviction, since accumulation, not short-term speculation, drives them.

Darkfost adds that some of these addresses could be linked to institutional entities offering ETH ETFs, which have seen surging demand recently. The scale of these inflows — with nearly 400K ETH added yesterday and a record 1.2M ETH accumulated on September 18th — points to serious players positioning for the long haul.

Still, this comes at a time when Ethereum is facing a critical technical test, hovering around the $4,000 support after losing more than 14% since mid-September. While accumulation shows strong confidence in ETH’s long-term trajectory, the short-term risks remain elevated. Selling pressure, broader market corrections, and macro uncertainty could test investor patience.

Ultimately, Darkfost emphasizes that the coming weeks will be decisive: either ETH bulls hold the line and confirm this accumulation as the foundation for a rebound, or pressure deepens into a more prolonged correction.

Related Reading

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

In an interview with Mario Nawfal, Jan van Eck, CEO of $118 billion global asset manager VanEck, offered an analysis of Bitcoin’s potential trajectory, the US fiscal deficit, and the broader financial markets. Contrary to some hyper-bullish forecasts, van Eck provided a more conservative price target for Bitcoin for this bull run.

Van Eck stated, “Our thesis is effectively that Bitcoin will keep to the halving cycle, so we’re looking at sort of $150,000 to $180,000 this cycle as a price target.” He dismissed the notion that Bitcoin could reach $400,000 in the current cycle, suggesting that such a milestone might be achieved in the next cycle. “In the next cycle, it reaches my target of half the value of gold, so $400,000 plus depending on the price of gold,” he added.

Discussing the US fiscal deficit, van Eck identified it as “the elephant in the room” and a significant concern for the markets. “We are spending money that’s just completely unsustainable, and for any other country, they’d be headed towards bankruptcy,” he remarked.

Related Reading

He outlined two prevailing schools of thought in Washington regarding fiscal policy. The first is the lobbyist perspective, which asserts that it’s impossible to cut spending significantly, resulting in minimal slowing of growth in the budget deficit. The second is the “extreme disruptors” approach, advocating for a $500 billion cut in government spending.

Van Eck credited this figure to Vivek Ramaswamy, co-head of the Department of Government Efficiency (DOGE), stating, “They can effectuate that because there are 1,200 programs that are no longer authorized but still spending money, which means that they can terminate them with an executive order.” He described this target as “healthy” and “realistic,” although acknowledging it would not close the entire deficit, which was $1.8 trillion last year.

Addressing the market’s reaction to the election of President Trump, van Eck found it peculiar that despite a clear electoral outcome, there remains uncertainty about fiscal policy. “We had a sweep by one political party, yet we don’t really know what their fiscal policy is gonna be,” he observed.

He noted that the initial market reaction was negative for gold because of the possibility of government restructuring. “The initial reaction was negative gold because the idea was, wow, maybe they will be able to restructure government. Never bet against Elon, right?” he said.

Related Reading

Van Eck also commented on geopolitical tensions, particularly the situation in Ukraine and the approval of long-range missiles striking deep into Russian territory. While acknowledging that such events can impact markets, he cautioned, “The problem is geopolitical stuff is completely uninvestable. We never know what next headline is coming, and we don’t know if it’s going to be bullish or bearish.” He advised that professional investors often choose to “do absolutely nothing” in response to geopolitical uncertainties.

Catalysts For Bitcoin Price

On the subject of institutional interest in Bitcoin and regulatory shifts, van Eck emphasized that the regulatory environment plays a crucial role. “It really depends on the regulatory environment,” he said. He pointed out that while regions like Asia have seen regulators giving the green light, the US has been relatively quiet. However, he noted a recent uptick in interest: “Now, with the new regime, suddenly the phone is ringing.”

Van Eck revealed his personal investment stance, stating, “That’s why I have a huge personal investment in Bitcoin and gold.” He expressed optimism about Bitcoin’s maturation process, likening it to a child growing up: “I would say it’s sort of like a teenager, and what gets it to mature is new investor sets coming in.” He noted that while individual investors have embraced Bitcoin ETFs, the wealth management industry has yet to fully engage.

Addressing the correlation between Bitcoin and traditional markets, particularly the NASDAQ, van Eck admitted concern: “The thing that worried me the most […] Bitcoin’s correlation to the NASDAQ was high.” He explained that this high correlation made Bitcoin less attractive to professional investors who were already overexposed to mega-cap tech stocks. However, he remains hopeful that Bitcoin’s correlation will diminish: “Rooting for and expecting that its correlation will go back to zero, which it has been for the long term.”

At press time, BTC traded at $95,350.

Featured image created with DALL.E, chart from TradingView.com

Key takeaways

• Bitcoin briefly dropped below $59k on Monday as Mt. Gox plans to repay some of its clients.
• Solciety has raised $400k in a week as its 30-day presale begins excellently.

BTC slips below $59k as buyers suffer losses

The cryptocurrency market is having a poor start to the week, with Bitcoin and other major cryptocurrencies currently in the red. Bitcoin, the leading cryptocurrency by market cap, lost more than 4% of its value on Monday and briefly dropped below $59k per coin.

The poor performance comes as Mt. Gox announced repayment plans starting in July that could see more than 140,000 bitcoins dumped into the market. Some investors anticipate that the Mt. Gox bitcoins could lead to a decline in Bitcoin’s price. At press time, the price of Bitcoin stands at $60,520.

What is Solciety?

While the general trend of the market has been bearish so far this week, the market is still in a bullish cycle and interesting projects continue to emerge. One project that investors could keep an eye on is Solciety. 

Solciety is a meme coin that seeks to become a leader in the PolitiFi meme ecosystem. According to the development team, Solciety wants to become the very first political party of degens. This meme coin is pegged to the only real-world currency: attention. The project wants to become a platform to spread the degen gospel across the Twitterverse. 

Solciety’s development plans

Although Solciety will launch as a meme coin, it will provide value to investors and users. Solciety will offer the Meme Campaigner, a tool that allows users to create their own meme coins. The tool will also offer users over 200 traits, backgrounds, and fonts.

The development team revealed that the tool can allow users to create and share memes on Twitter to earn points. Users will earn one point for every meme shared, the points will be collected and the top ten users will earn presale tokens.

The Solciety presale has begun and will last for only 30 days. The funds raised from the presale round will be channelled towards developing new tools such as Solciety’s AR. The Augmented Reality tool will allow users to view their weird and wonderful meme creations layered over the real world.

Furthermore, some of the funds will go towards developing Solciety’s AI, which will be launched in the first quarter of 2025. The AI will facilitate natural language programming to autogenerate captions and translate memes into other languages.

Solciety raises $400k in a week

The Solciety presale began a week ago and has already reached an important milestone. So far, the presale has raised $399,588.

The presale would run for 30 days and have ten stages. Early investors enjoyed a heavily discounted price of $0.000963 in the first stage. 

The presale is currently in its third stage, with the SCLTY token going for $0.002222. The SLCTY token’s price will increase every 72 hours, with early investors enjoying an astonishing 125% surge in price before the presale ends. 

According to the project’s tokenomics, the presale offers 30% of the supply with 3 billion tokens available to early investors. Meanwhile, 20% of the tokens have been allocated to marketing and 10% to community rewards and incentive programs. Finally, liquidity will account for 17%.

Should you buy the SLCTY token?

Meme coins have become an important part of the crypto ecosystem thanks to massive adoption by degens. Solana has become home to some of the crypto ecosystem’s leading meme coins and DeFi protocols thanks to its transaction speed, security, and transparency,

By launching on the Solana blockchain, Solciety is leveraging the network’s features to provide unique utilities to its users. SLCTY is launching in a booming PolitiFi ecosystem and could record massive growth as the elections in the United States and some parts of Europe draw closer. 

By allowing users to create their meme tokens and share them on social media platforms, Solciety is promoting quality content creation and encouraging the Degen movement. Its native SCLTY token could become a leading meme coin with the right level of adoption.

For the first time since July 2021, Bitcoin mining difficulty has dropped significantly. Interestingly, the drop has happened not once but twice within the space of this month alone. Meanwhile, Pantera CEO believes that Bitcoin price could reach $400k by 2025.

Bitcoin Mining Difficulty down

According to data from Glassnode, Bitcoin’s mining difficulty dropped by 0.35% on March 17. This followed the first drop of 1.5% the flagship digital asset had seen earlier this month.

Bitcoin mining difficulty is an automatic adjustment proportional to the network’s computing power, otherwise termed hash rate. 

Notably, the Bitcoin mining hash rate had reached an ATH of 248 EH/s in February, leading to declarations that the asset has fully recovered from the China ban on mining activities within its jurisdiction last year.

Judging by the current happenings around the world, the drop is not entirely surprising considering the fact that Russia is one of the few countries that crypto miners had migrated to from China. Russia has been facing economic sanctions from the rest of the world due to its ongoing invasion of Ukraine.

Aside from that, the war in Ukraine has also led to a surge in the price of electricity across the world as Russia is one world’s largest exporters of gas and fossil fuel. These conditions, put together, would most likely have led to some miners unplugging their mining machines, thereby reducing the difficulty level.

Pantera Capital CEO: Expect Bitcoin at $400k by 2025

Pantera Capital’s CEO, Dan Morehead, in a recent interview with Bloomberg, has revealed that the price of Bitcoin is going to rise exponentially within the next decade.

According to Morehead, almost everyone with a smartphone would have access to crypto within the next 5-10 years. He posits that this global adoption would help push the price of the coin to the range of $400,000 by 2025, especially as more institutional investors get into the space.

Speaking on other digital assets, the founder expounded that other crypto-assets like Solana, Ethereum, and others have the potential to grow by 100 times their current value.