Hunter Biden Returns to X, Weighs in on Crypto Amid Market Sell-off

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 21 hours ago

BTC+0.096%

HYPE-0.53%

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Social Media Comeback: Hunter Biden, after a decade of scrutiny and financial strain, has returned to X, posting blunt messages that quickly gained traction, indicating a resurgence of his influence in public discourse.
Crypto Commentary: Amid the market sell-off, Biden commented on cryptocurrency, mentioning the decentralized exchange 'Hyperliquid', which reflects his engagement with the crypto market and could sway his supporters' investment decisions.
Surge in Trading Volume: Hyperliquid's oil contract trading volume skyrocketed from $339 million to $7.3 billion in just two weeks, showcasing its ability to react to geopolitical tensions, potentially attracting more investor interest.
Increased Regulatory Scrutiny: The anonymous, decentralized design of Hyperliquid has drawn the attention of regulators, and Biden's remarks may influence public perception of the platform, intensifying discussions around cryptocurrency regulation.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	44599.291	51865.1	60059.151	67324.96	75519.011	82784.82	90978.871
Fibonacci	51865.1	57770.767	61419.294	67324.96	73230.627	76879.154	82784.82

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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