Bitcoin to Hit $40,600 in Historic Price Crash, XRP Might Start Forming 'Death Cross' Signal, Shiba Inu Introduces New Portal to Empower Developers: Crypto News Digest by U.Today

U.Today - Here are the top three news stories over the past day presented to you by U.Today.

Bitcoin (BTC) to hit $40,600 in historic price crash

A critical Bitcoin warning has recently been issued by on-chain analyst Ali Martinez. In his X post from Sept. 4, Martinez shared a two-month chart for the largest crypto, stating that the TD (TSX:TD) Sequential indicator shows a sell signal "anticipating a correction." According to the analyst, should Bitcoin lose the crucial $51,000 support level, it could plunge to the low of $40,600. Although the market has experienced several price corrections in recent months, a decline below $51,000 could significantly impact BTC and potentially have repercussions for the broader market. At the moment of writing, Bitcoin is trading at $54,630, down 3.54% over the past 24 hours, per CoinMarketCap.

XRP might start forming "death cross" signal

XRP seems to be heading toward forming a death cross, a bearish signal that occurs when the 50-day moving average crosses below the 200-day moving average. This pattern usually points to a significant trend reversal, potentially leading to increased selling pressure. Currently, XRP is trading at about $0.52, having a tough time holding those levels; if it cannot gain some bullish momentum, it might see the drop to $0.50 or even lower. Given current market conditions and ongoing regulatory concerns, traders are becoming more cautious, which could lead to more sell-offs. Overall, the technical signs suggest that a steep decline could be on the horizon, especially if XRP breaks through key support levels.

Shiba Inu (SHIB) introduces new portal to empower developers

In a recent X post, Lucie, Shiba Inu marketing lead and prominent member of the SHIB community, has shared an article devoted to the ShibDev Portal, "the key enabler for developers to build on Shibarium." As stated in the article, the portal offers a wide range of developer tools, which will help innovators build decentralized applications (dApps) more easily. The core features of the ShibDev Portal include a centralized dashboard, API key management, node access, on-chain data access and a test token faucet. This portal is helpful for both experienced and novice developers in the SHIB ecosystem, as it offers detailed documentation to serve as a guide. Also, the ShibDev Portal supports diverse use cases, encompassing DeFi, NFTs, gaming and virtual worlds, social networks, DAOs and identity verification.

This article was originally published on U.Today