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Bitcoin’s Range-Bound Price Action Is Clearly the Result of an All-Powerful Alt-Emperor Ruling Over a Kingdom of Uncoordinated Cryptocurrencies

AltcoinsBitcoinCrypto News 1 Sam Rogers August 20, 2024

An illustration of an altcoin king sitting on top of Bitcoin's castle with its crown slipping off as various other cryptocurrencies are shown trying to break free from their chains and rise up against him. In the background a range-bound price action is depicted, represented by two parallel lines that stretch across the horizon. The scene is set in a fantasy world where coins have taken human form. A large fund manager with Goldman Sachs' logo on his hat stands at the foot of the castle holding an ETF bag and smiling as he looks up towards the altcoin king's throne.

The cryptocurrency market is still in shambles after its recent collapse. Bitcoin (BTC) has been stuck in a range-bound price action for weeks, and altcoins like BNB (BNB), Toncoin (TON), Aave (AAVE), and Helium (HNT) are struggling to break out of their respective downtrends.

Source: cointelegraph

Bitcoin’s range-bound price action could kickstart BNB, TON, AAVE and HNT
https://cointelegraph.com/news/bitcoin-s-range-bound-price-action-could-kickstart-bnb-ton-aave-and-hnt
Bitcoin (BTC) continued its sideways price action as buyers successfully defended the $55,724 support this week. Large fund managers have used the period of consolidation to add spot Bitcoin exchange-traded funds (ETFs) to their portfolios. According to an analysis by CoinShares Research, Goldman Sachs bought $419 million, Capula Management acquired $470 million, and Avenir Tech purchased $388 million worth of Bitcoin ETFs since March. A report published by cryptocurrency exchange […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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