The Bitcoin price saw a notable recovery trend over the weekend that put it back above $60,000, and by the early hours of Monday, the price had recovered above $63,000. Given this recovery trend, crypto analyst Bluntz Capital, has used the Elliot Wave Theory to map out where the BTC price could be headed from […]
Bitcoin and altcoin traders set their sight on new all-time highs now that BTC price is back above $63,000.
BlackRock, the world's biggest hedge fund, currently has $10.6 trillion in assets under management and the largest Bitcoin investment fund.
Roaring Kitty might have gone quiet, but GameStop's stock just hit its highest price in a month. What's causing the latest rise?
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Failed assassination attempt on Trump boosts Bitcoin and Trump-themed meme coins. Discover which tokens soared and why!
Data shows the cryptocurrency derivatives market has registered significant liquidations after the Bitcoin rally above the $63,000 mark. Bitcoin Rally Has Resulted In Short Liquidations On Derivatives Market According to data from CoinGlass, the latest volatility in the cryptocurrency market has led to large liquidations on the derivatives side. “Liquidation” here naturally refers to the process that any open contract undergoes where its platform forcibly closes it off after it has amassed losses of a certain degree. Related Reading: Bitcoin Recovery Stalls As HODLers Apply Selling Pressure The table below shows how the derivatives liquidations have looked during the last 24 hours: It would appear that the cryptocurrency derivatives market has registered total liquidations of $126 million in the past day. Out of these, almost $101 million of the contracts were short ones. This figure is equivalent to more than 80% of the total, implying that these investors betting on a bearish outcome for the market were the most heavily affected by the latest volatility. This naturally makes sense, as assets across the sector have seen green returns in this window, led by Bitcoin’s rally. A mass liquidation event like this latest one is popularly called a “squeeze“, and as shorts were the side that contributed to a majority of these liquidations, the squeeze would be known as a “short squeeze.” During a squeeze, liquidations end up feeding further into the price move that caused them, thus unleashing a cascade of further liquidations. As such, the sharp price surge in the past day would in part be fueled by the short squeeze. Related Reading: Bitcoin Crash Forced Weak Hands Into Largest Loss-Taking Since 2022 Lows: Report As for the breakdown of this latest squeeze for the various symbols, it would seem like Bitcoin has come out on top like usual with around $45 million in liquidations. Ethereum (ETH) and Solana (SOL) have made up the rest of the top three with $24 million and $8 million in liquidations, respectively. Interestingly, while most of the sector has seen the dominance of short liquidations, XRP (XRP) on fourth has seen longs edge out instead. This may be down to the fact that the coin has overall only moved sideways while the rest have rallied. BTC Has Managed To Reclaim The $62,000 Support Level With the latest rally, Bitcoin has been able to make some significant recovery, with its price even briefly surging above the $63,000 level earlier in the day. The chart below shows what the coin’s surge has looked like: According to data from the market intelligence platform IntoTheBlock, Bitcoin is now floating above the significant on-chain support level of $62,000. “While resistance is strong above, enough bullish momentum can prevent selling pressure,” notes the analytics firm. Featured image from Dall-E, CoinGlass.com, IntoTheBlock.com, chart from TradingView.com
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A recent survey conducted for the Financial Times and the University of Michigan’s Ross School of Business highlights the opinions of American voters regarding financial stability under potential presidential candidates. Nearly half of the voters believe they will be better off if Donald Trump wins the presidential election. Although, Trump has shown strong support for …
Data shows the Bitcoin Coinbase Premium Gap has turned positive recently, a sign that institutional entities have started buying the asset again. Bitcoin Coinbase Premium Has Been Positive Alongside Latest Rally As pointed out by an analyst in a CryptoQuant Quicktake post, the Coinbase Premium Gap, which had negative values just earlier, has switched back […]
BTC price holds its weekend gains as Larry Fink confirms that he is no longer a Bitcoin “skeptic.”
BlackRock CEO Larry Fink reaffirmed his supportive stance on Bitcoin, describing it as “digital gold” and emphasizing its potential as a key asset in diversified investment portfolios. Fink made the statement during a July 15 CNBC interview. His latest endorsement comes on the heels of BlackRock’s robust second-quarter earnings, which surpassed analysts’ expectations. The firm […]
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Tether has appointed Philip Gradwell as head of economics to improve transparency on USDT usage to regulators.
The post BlackRock CEO Praises BTC As An Asset Class, Calls It A Legitimate Financial Instrument appeared first on Coinpedia Fintech News
BlackRock CEO, Larry Fink has showered praises on Bitcoin as an asset class highlighting its positives. In a recent interview with CNBC, Larry Fink restated his belief in the crypto market leader. He stated that ‘it is a legitimate financial instrument, that allows you to have non-correlated type of returns, an instrument that you invest …
The post Peter Brandt Makes Bold Prediction For Bitcoin To Hit $90,000 appeared first on Coinpedia Fintech News
Veteran trader Peter Brandt recently incited excitement in the crypto community with his bold prediction for Bitcoin. He forecasted a potential surge in the crypto’s price, suggesting that it could soar past the $90,000 mark. According to Brandt, BTC might be unfolding a pattern he describes as “Hump->Slump->Bump->Dump->Pump’. However, he also cautioned that a close …
The post Genesis Trading Transfers More Bitcoin To Coinbase, Can It Impact Bitcoin Recovery? appeared first on Coinpedia Fintech News
Genesis Trading has transferred 600 BTC to Coinbase, valued at approximately $37.72 million. As a part of its ongoing bankruptcy liquidation procedures, Genesis Trading continues to liquidate substantial Bitcoin holdings. The latest move is part of a larger trend observed over the past month, during which Genesis Trading has moved more than 12,000 BTC to …
The post Judge Drops Classified Document Case Against Trump Ahead of Bitcoin Conference appeared first on Coinpedia Fintech News
A Florida judge has thrown out the classified documents case against former President Donald Trump, arguing that the special counsel, Jack Smith, was appointed unlawfully. The decision is a legal victory for Trump, as his lawyers had argued that the appointment of Smith by the Attorney General without the approval of the Senate was unlawful. …
Decentralized physical infrastructure networks represented the fourth most profitable sector for investors in the first half of 2024.
American multinational finance company, JP Morgan has maintained a bullish stance on the Bitcoin price outlook despite recent bearish trends. The bank has announced the timeline for the conclusion of the ongoing BTC liquidations, predicting a subsequent rebound in the market. JP Morgan Predicts Bitcoin Market Rebound In August In a research report on Wednesday, JP Morgan suggested that BTC liquidations should abate this July, foreseeing the start of a strong bull market as bearish trends caused by sell-offs subside. While the bank believes that a market recovery is imminent, it is also skeptical about the sustainability of high Bitcoin inflows in its year-to-date flow into crypto assets. Related Reading: Dogecoin Sees 868% Spike In Whale Buys, Bulls Ready For Breakout Rally For one, JP Morgan has revised and grossly reduced its former year-to-date crypto net flow from $12 billion to $8 billion. So far this year, Spot Bitcoin ETFs have been the major driver for substantial inflows into the crypto market. JP Morgan’s skepticism also stems from Bitcoin’s high price relative to its production cost and the price of gold. A crypto analyst from the bank, Nikolaos Panigirtzoglou has suggested that the bank’s reduction in the estimated year-to-date net flow was also due to the recent decline in Bitcoin reserves across exchanges. The decline in Bitcoin reserves over the past month is believed to be a result of the ongoing selling pressures and widespread BTC liquidations executed by Mt Gox creditors and the German government. As mentioned earlier, JP Morgan has predicted that this BTC sell-off will officially end in July, giving rise to a substantial bullish rally for Bitcoin in August. Following the bank’s predictions, many crypto analysts and community members have suggested that the recent upsurge in Bitcoin’s price is the continuation of a strong bull market. A crypto analyst identified as ‘CryptoYoddha’ on X (formerly Twitter) has revealed that the German government was preparing to sell their remaining BTC just before the bull run. Despite the aggressive selling by the German government and the subsequent market turmoil, the analyst noted that Bitcoin still appears bullish. About The Ongoing BTC Liquidations Earlier in June, Mt Gox announced that it would be making repayments to creditors in July. While the defunct Bitcoin exchange’s decision to start its repayment process comes as good news to creditors, there is also an underlying unease concerning potential Bitcoin sell-offs. Related Reading: Ethereum Bulls Gear Up For Recovery – Can Spot ETFs Push Price To New Highs? With creditors steadily receiving part of Mt Gox’s 142,000 BTC payment worth about $9 billion, the market fears are somewhat justified as a widespread Bitcoin dump would have a major impact on the price of the cryptocurrency. In addition to Mt Gox’s substantial Bitcoin redistribution plans, the German government has also been seen selling almost 100% of its Bitcoin holdings seized from criminals. These substantial crypto liquidations have put a major damper on the price of Bitcoin, triggering serious price declines that have significantly delayed the highly anticipated Bitcoin bull run. A crypto analyst identified as ‘Rekt Capital’ has indicated that the Bitcoin bull market based on standard halving cycles has already advanced by 40.1%. Featured image created with Dall.E, chart from Tradingview.com
His appearance in Nashville, still a go despite injuries sustained in Saturday's shooting, will cement cryptocurrency as a mainstream political topic.
BlackRock's endorsement of Bitcoin as a legitimate financial instrument could significantly boost institutional adoption and market confidence in cryptocurrencies.
The post “Bitcoin is a legitimate financial instrument,” says BlackRock CEO appeared first on Crypto Briefing.
Tether has frozen $28 million worth of USDT tokens connected to the Huione Group business in Cambodia. This is a big deal in the world of cryptocurrencies. This move comes after claims of theft and money laundering, showing how hard it is to regulate digital currencies. Related Reading: No Bail For Tornado Cash Dev Alexey […]
BlackRock (BLK) CEO Larry Fink reiterated his belief that Bitcoin {{BTC}} is an asset that everybody should consider holding as part of their portfolio.
Galaxy is one of several investors who have accused Richard Kim of misappropriating at least $3.67 million of company funds belonging to Zero Edge, his crypto casino.
The post Hamster Kombat SCAM? Fans Panic as Game Mysteriously Shuts Down! appeared first on Coinpedia Fintech News
Hamster Kombat fans panic over sudden game crash, sparking scam fears. Find out the real reason behind the outage and current status.
Thailand is set to roll out what was initially a controversial $13.8 billion digital cash handout program to stimulate its sluggish economy. Prime Minister Srettha Thavisin announced that eligible businesses and individuals could register for the program, dubbed the “Digital Wallet,” starting August 1, per AP News. Originally announced in April, the plan aims to […]
The post Thailand to launch $12.4 billion digital cash scheme to boost local economy appeared first on CryptoSlate.
The crypto was stolen by Lazarus hackers from three crypto companies in June and July last year.
Recent events have seen the Bitcoin market show fresh vitality; the price of the coin exceeds $63,000. This spike coincides with a slew of noteworthy occurrences that both experts and investors have noticed. Related Reading: Ethereum Seen Hitting $5,000 as German Bitcoin Sell-off Shakes Market Dormant Wallet Turns Into Action The turning on of a long-dormant Bitcoin wallet is among the most interesting events. Known as “1 EhXAfST,” the wallet had been dormant for almost 12 years until abruptly sending 1,000 BTC—worth about $60 million—to two new wallets. Given the wallet’s background, this shift is very important; each BTC was only worth $12.06, hence the initial investment was $12,060. With a current worth of $60 million, Bitcoin’s price rise over the previous ten years is clearly shown as amazing. 4 hours ago, the dormant wallet “1EhXAfST” woke up after 11.8 years and moved 1,000 $BTC (~$60M) to 2 new wallets! The wallet received those $BTC on Sep 25, 2012, when the price was only $12.06 ($12.06K). Watch out for more #Bitcoin updates by following @spotonchain and setting… pic.twitter.com/0YUVUWFKdJ — Spot On Chain (@spotonchain) July 15, 2024 Although the causes of this movement are yet unknown, it has spurred debates about possible profit-taking or strategic repositioning by long-term owners. Nonetheless, experts believe that this one transaction is not expected to have a major influence on the general price of Bitcoin on the market. Raised Whale Activity And Accumulation Along with the dormant wallet’s ressurection, Bitcoin whale activity has clearly increased. As Bitcoin’s price dropped to about $53,500 during the previous week, big investors bought over 71,000 BTC, or almost $4.3 billion overall. Reported to be the quickest since April 2023, this accumulation pace points to a high positive attitude among the main market participants. The increase in whale activity corresponds with a period of price volatility, indicating that these big players might be seeing recent price declines as purchase prospects. This behaviour usually conveys assurance about the long-term future of the item. ETFs Boost Market Momentum The function of spot Bitcoin ETFs is another major determinant of the dynamics of the present market. With just the previous week acquiring $1.1 billion worth of Bitcoin, these quite young investment vehicles have showed strong success. The whole Bitcoin holdings of US ETFs have been driven to fresh all-time highs by this flood of institutional interest. The great success of Bitcoin ETFs is interpreted as a good indication of the general acceptance of the bitcoin. It offers conventional investors a controlled way to get exposure to Bitcoin without really owning the asset, hence perhaps widening the investor base and raising general market liquidity. Overview Of Bitcoin Prices With Bitcoin trading at $63,165 as per the most recent statistics, it is over a significant trend line. Market players are attentively observing this present price point as it can suggest the direction of further price fluctuations. Technical experts propose that there is possibility for a further 8% price gain should Bitcoin keep its position above the $59,500 support level. The current patterns in accumulation and growing institutional interest support this perspective. Still, the market is vulnerable to change. A dip below $56,405 might indicate a turn towards negative attitude, maybe resulting in a 7.5% price decline. This emphasises how crucial the present support levels are for deciding temporary price swings. Related Reading: Notcoin (NOT) Ignites Crypto Market, Analyst Predicts 25% Rally The Road Ahead Meanwhile, rising ETF participation, awoken dormant wallets, and more whale activity all point to a market in change. Although these advancements are usually seen as encouraging signs, the bitcoin market is notoriously erratic. In the next weeks, experts and investors will be attentively observing several aspects. They will be looking for more moves from once inactive wallets to gain understanding of long-term holder mood. Featured image from CNBC, chart from TradingView
Ben&Ben, a nine-piece pop band with over three million YouTube followers, started live-streaming a fraudulent XRP advertisement.
The surge in cat-themed meme coins highlights the volatile and speculative nature of the cryptocurrency market, driven by trends and social sentiment.
The post Cat meme coin HEHE soars 190% amid Bitcoin rebound appeared first on Crypto Briefing.
This week’s cybersecurity news from around the crypto space covers bug fixes, phishing scams, crypto exchange hacks and more.