Bitcoin’s recent price action has seen a notable divergence in futures market activity. Data from Glassnode reveals a marked increase in cash-margined futures open interest across all exchanges, while crypto-margined futures open interest has declined. This trend coincides with Bitcoin’s price surging past $62,000 following bullish momentum on former President Trump’s assassination attempt at the […]
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John Bigatton has been convicted for unlicensed financial advice, impacting the credibility of Australia’s financial sector.
After a decline to $53,600 last Friday, the Bitcoin price experienced a major recovery over the weekend, exceeding the $63,000 threshold today. This marks a massive 17% increase since last Friday, reaching this level for the first time in two weeks. The rally can be attributed to several factors that collectively propelled the premier’s cryptocurrency’s price upward. #1 The “Trump Bitcoin Pump” The resurgence in the Bitcoin price coincided with the attempted assassination of former President and 2024 presidential hopeful Donald Trump. The incident significantly impacted his odds in the upcoming election, with betting market Polymarket now forecasting a 70% probability of his victory. Crypto expert Will Clemente III highlighted on X, “Trump’s odds of winning in November are skyrocketing in prediction markets.” He further noted, “Based on Bitcoin’s reaction so far, looks like markets are going to begin pricing in a full Trump victory.” Related Reading: Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government? Alex Krüger, a macro analyst, elaborated on the implications of a potential Trump presidency for the financial markets: “The Trump Trade is now on its way. This what Trump winning, or the expectation of him winning, entails: Bullish for Crypto because Trump’s administration might pursue supportive regulations for cryptocurrencies, fostering innovation and adoption.” #2 German Selling Exhausted The recent completion of a large-scale Bitcoin sell-off by the German government also contributed to the price recovery. Germany exhausted its cache of 50,000 BTC seized from Movie2k, completing its final transaction of 3846.05 BTC last Friday. James “Checkmate” Check, a leading on-chain analyst, remarked on the incredible strength of the BTC price on X, “Folks, Bitcoin just absorbed a 50k BTC market sell order in a few weeks. It dipped ~25%, in a very structured and orderly correction. Last time something like this happened was LUNA selling ~80k $BTC and price dropped from $46k to $25k, and soon after to $17k. Not the same.” #3 DXY Is Showing Weakness The weakening US dollar is probably another driver of BTC’s recent gains. The US Dollar Index (DXY), which measures the dollar against a basket of major currencies, fell 1.8% over the last two weeks to a five-week low of 104. Related Reading: Bitcoin Whales Accumulate 71,000 BTC Amidst Price Dip – Details The expectation of an interest rate cut and the growing US government deficit, which reached $1.27 trillion year-to-date in June, have contributed to the dollar’s decline, pushing investors towards riskier assets like Bitcoin and cryptocurrencies. #4 Bitcoin Miner Capitulation Ends Joe Burnett, another noted crypto analyst, highlighted via X yesterday that a month-long period of Bitcoin miner capitulation is nearing its end, indicating a potential reversal in downward pressure on Bitcoin’s price. Historically, the end of miner capitulation has been associated with subsequent price increases. #5 Technical Breakout From a technical perspective, Bitcoin surpassed the critical 200-day Exponential Moving Average (EMA) and a descending trendline this Saturday. This milestone can be considered a bullish signal among traders, indicating a possible end to the downturn that began in early June. At press time, BTC traded at $63,105. Featured image created with DALL·E, chart from TradingView.com
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Bitcoin price volatility reached its interim peak during the weekend as the token displayed a diverse trend and the traders were quite bearish. With the latest price action of over 8% since the weekend, the tables are now turned in favour of the bulls, who aim to reclaim $70,000 in the coming days. However, before …
On-chain Highlights DEFINITION: The total volume traded in futures contracts in the last 24 hours Bitcoin futures volume on major exchanges shows varied trends throughout 2024. The Glassnode charts illustrate a significant shift in futures trading activity. From the start of the year, the volume fluctuated, peaking in early March with almost 1.2 million BTC […]
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The post Top Altcoins To Stack As Bitcoins Hints Fresh Rally! appeared first on Coinpedia Fintech News
With the price of Bitcoin adding over 12.73% to its portfolio this week, the crypto market has started stabilizing, indicating increased price action within the crypto space. Moreover, top BTC-influenced altcoins have displayed a similar trend and experienced a massive price surge within a short period. With the increasingly bullish sentiment in the cryptocurrency market, …
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With the rising number of altcoins witnessing a bullish reversal rally, the broader market recovery gains traction. As the market cap of crypto reclaims the $2.2 Trillion level, the chances of a massive jump in low-cap altcoins are increasing. Amidst such altcoins, the ones on the verge of a breakout rally or experiencing it offer great …
The post $35M Laundered in DMM Bitcoin Hack: Lazarus Group’s Role Unveiled appeared first on Coinpedia Fintech News
Crypto investigator ZachXBT has shared new information claiming $35m of the $305m stolen in the DMM Bitcoin hack has been laundered through the Huione Guarantee online marketplace in July 2024. Specifically, the laundering scheme is reminiscent of the operations of the Lazarus Group and their typical practices and signs of activity off-chain. The particulars of …
AUSTRAC's latest report highlights a rise in criminal use of cryptocurrencies, urging stricter regulations and international cooperation to combat money laundering.
The post Bitcoin, Ethereum, And XRP Price Prediction: Fresh Bull Rally On The Horizon? appeared first on Coinpedia Fintech News
With the increased price volatility in the cryptocurrency market, top tokens continue to record significant price fluctuations in their respective portfolios. However, with a positive inflow of BitcoinETF for the eighth consecutive day, the Bitcoin price has displayed bullish action over the past few days. On the other hand, top altcoins such as Ethereum and …
The post Must Buy Meme Coins This Week For More Than 50% Gains appeared first on Coinpedia Fintech News
With the crypto market cap reaching $2.253 Trillion, the bull run is gaining momentum. Amidst this, the altcoins reveal massive upside potential, with the meme coins and PotiliFi taking the centre of attraction. Known for quick returns and massive upside rallies, the meme coins are the best-performing sector in H1 2024. So, let’s take a …
The post South Korea’s Crypto Tax Pushback: No Taxes Until 2028? appeared first on Coinpedia Fintech News
South Korean crypto taxes have been delayed until 2021, and they may continue. Crypto taxes may be delayed until January 2028 by the ruling party. The impracticality of the current tax policy due to system and institutional failure influences this decision. What’s Behind the Tax Delay? A local news publication recently reported that the government …
The post Altcoin Rally on the Horizon? Top Crypto Analyst Predicts Massive Adoption Wave appeared first on Coinpedia Fintech News
As the Altcoin market cap has declined nearly 30% over the past few months, traders remain skeptical about the future of altcoins. Despite the current decline renowned crypto analyst Michael van de Poppe believes a significant rally for altcoins is imminent. However his analysis, based on recent market trends and upcoming events, suggests a bullish …
Bigatton was sentenced to a three-year recognizance of good behavior and disqualified from managing corporations for five years on Friday.
ETF analyst Nate Geraci says there’s no “good reason” for spot Ethereum ETFs not to launch this week.
BlackRock's ad removal highlights the complexities and reputational risks companies face when past content intersects with controversial events.
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The ongoing legal battle between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC) could end this week with a settlement between the two parties, as the SEC has scheduled a meeting behind closed doors for Thursday, July 18, 2024. Ripple Vs. SEC Settlement This Week? Brett Hill, an ambassador from the crypto […]
The post Bitcoin Price Prediction Q4: Historical Trends Hints BTC Price Poised for a Boom appeared first on Coinpedia Fintech News
In a recent X post, Benjamin Cowen chimed into Bitcoin dominance, explaining its significance in the crypto market. In the coming weeks, Bitcoin must decide whether to rise above its Bull Market Support Band (BMSB) or it will continue to face resistance. Cowen noted that Bitcoin is sliding below its BMSB in the summer of …
The post Must Buy Altcoins That Could Hit A New All-Time High appeared first on Coinpedia Fintech News
With the Bitcoin price trading above $62K, the crypto market anticipates a bullish week ahead. Amidst the changing sentiments, the top large-cap altcoins offer massive upside potentials for a new all-time high this week. With opportunities to buy large-cap altcoins before the bull run, let’s take a closer their price chart. Top Large Cap Altcoins …
The non-fungible token collectibles rose to as much as 933 MATIC, according to data collected from multiple NFT marketplaces.
Russia's regulatory framework for Bitcoin mining could significantly impact the global crypto market and local economic activities.
The post Bitcoin mining bill advances in Russia, awaits State Duma vote in late July appeared first on Crypto Briefing.
The post Bitcoin Bulls Ride The Trump-Wave; Price Eyes $70,000 levels appeared first on Coinpedia Fintech News
Amid looming concerns about Germany’s Bitcoin sales, the potential selling from Mt. Gox creditors, and miners selling their holdings, institutional investors reportedly added 100,000 Bitcoins in a single week, showing strong buying interest. Analyst Crypto Rus believes the current fear in the market may be exaggerated, given the concerns He said that the German government …
Over $35 million in funds from a cryptocurrency exchange hack in May has reportedly been moved to the online marketplace “Huione Guarantee” this month.
The post Crypto Regulations In Chile 2024 appeared first on Coinpedia Fintech News
Chile, situated in the western side of South America, is known for stability and prosperity. With its capital, Santiago, shining as the economic heart of the country, it boasts a powerful high-income economy. It enjoys leading positions in various global rankings, from economic freedom to competitiveness. One exciting development is the introduction of the Ley …
With Germany’s “forced selling” over and Mt. Gox repayments all but priced in, analysts look to an easing macro environment as a driver for Bitcoin’s price in the coming months.
The weekend attack on pro-crypto presidential candidate Trump should galvanize bids for cryptocurrencies, one observer said.
Solana started a steady increase above the $135 zone. SOL price broke the $150 resistance and is now consolidating gains. SOL price started a decent upward move above the $135 resistance against the US Dollar. The price is now trading above $145 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $147 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could correct lower, but the bulls might remain active near $147 or $143. Solana Price Jumps Over 5% Solana price managed to start a fresh increase above the $125 pivot level. SOL gained pace for a move above the $132 and $135 resistance levels, like Bitcoin and Ethereum. The price even cleared the $145 resistance and surpassed the $150 hurdle. A high was formed at $152.05 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $134 swing low to the $152 high. Solana is now trading above the $145 level and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $147 on the hourly chart of the SOL/USD pair. On the upside, the price might face resistance near the $152 level. The next major resistance is near the $155 level. A successful close above the $155 resistance could set the pace for another steady increase. The next key resistance is near $165. Any more gains might send the price toward the $172 level. Are Dips Limited in SOL? If SOL fails to rise above the $152 resistance, it could start a downside correction. Initial support on the downside is near the $150 level. The first major support is near the $147 level and the trend line. A break below the $147 level might send the price toward $143 or the 50% Fib retracement level of the upward move from the $134 swing low to the $152 high. If there is a close below the $143 support, the price could decline toward the $138 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $147 and $143. Major Resistance Levels – $152 and $155.
XRP price gained bullish momentum above the $0.50 resistance zone. The price is consolidating gains and might aim for another move above the $0.5450 resistance zone. XRP price gained over 20% in a few days and broke the $0.500 zone. The price is now trading above $0.5050 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with support at $0.520 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend gains if there is a close above the $0.540 resistance level. XRP Price Regains Strength XRP price remained in a positive zone above the $0.440 level and extended its recovery wave. It gained over 20% in a few days, outperforming Ethereum and Bitcoin. The price was able to climb above the $0.5050 and $0.5200 resistance levels. The price even cleared the $0.5450 level and spiked above $0.550. A high was formed at $0.5659 and the price corrected gains. There was a minor decline below the $0.5450 level. The price tested the $0.5150 support zone. A low was formed at $0.5140 and the price is now consolidating. There was a move above the 23.6% Fib retracement level of the downward move from the $0.5659 swing high to the $0.5140 low. The price is now trading above $0.520 and the 100-hourly Simple Moving Average. Besides, there is a short-term contracting triangle forming with support at $0.520 on the hourly chart of the XRP/USD pair. On the upside, the price is facing resistance near the $0.5290 level. The first major resistance is near the $0.5320 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5650 resistance. The next major resistance is near the $0.5880 level. Any more gains might send the price toward the $0.600 resistance. Are Dips Supported? If XRP fails to clear the $0.5450 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.520 level. The next major support is at $0.5150. If there is a downside break and a close below the $0.5150 level, the price might continue to decline toward the $0.490 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5200 and $0.5150. Major Resistance Levels – $0.5320 and $0.5450.
Ethereum price started a major increase above the $3,250 resistance zone. ETH even surpassed $3,300 and aims for more upsides in the near term. Ethereum is gaining pace above the $3,250 level. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,270 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise above the $3,320 and $3,350 resistance levels. Ethereum Price Regains Strength Ethereum price started a steady increase above the $3,150 resistance zone. ETH even climbed above the $3,250 resistance to move into a positive zone. Finally, there was a move above the $3,300 resistance, like Bitcoin. It tested the $3,250 resistance zone. A high was formed at $3,339 and the price is now consolidating gains. The bulls seem to be active well above the 23.6% Fib retracement level of the upward move from the $3,084 swing low to the $3,339 high. Ethereum is now trading above $3,280 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,270 on the hourly chart of ETH/USD. On the upside, the price is facing resistance near the $3,340 level. The first major resistance is near the $3,350 level. The next major hurdle is near the $3,420 level. A close above the $3,420 level might send Ether toward the $3,500 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,650 resistance zone in the coming days. Are Dips Supported In ETH? If Ethereum fails to clear the $3,340 resistance, it could start a downside correction. Initial support on the downside is near $3,270 and the trend line. The first major support sits near the $3,220 zone. A clear move below the $3,220 support might push the price toward $3,200 or the 50% Fib retracement level of the upward move from the $3,084 swing low to the $3,339 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,270 Major Resistance Level – $3,340
In a strange turn of events, a phishing scammer has returned a large portion of funds it stole from a victim last September.