Cardano price started a steady increase above the $0.3850 resistance. ADA is now eyeing a close above $0.40 to gain bullish momentum. ADA price started a fresh increase and traded above $0.3880. The price is trading above $0.390 and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.3935 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could gain bullish momentum if it closes above the $0.40 zone. Cardano Price Eyes Steady Increase In the past few sessions, Cardano started a decent increase from the $0.3350 support zone. ADA climbed above the $0.350 and $0.3650 resistance levels, like Bitcoin and Ethereum. It even cleared the $0.3880 resistance and tested $0.4050. A high was formed at $0.4047 and the price is now consolidating gains. There was a move below the $0.400 and $0.3980 support levels. The price tested the 23.6% Fib retracement level of the upward move from the $0.3577 swing low to the $0.4047 high. ADA price is now trading above $0.380 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.3935 on the hourly chart of the ADA/USD pair. If there is another upward move, the price might face resistance near the $0.400 zone. The first resistance is near $0.4050. The next key resistance might be $0.4250. If there is a close above the $0.4250 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.450 region. Any more gains might call for a move toward $0.4650. Downside Correction in ADA? If Cardano’s price fails to climb above the $0.400 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.3960 level and the trend line. The next major support is near the $0.3810 level and the 50% Fib retracement level of the upward move from the $0.3577 swing low to the $0.4047 high. A downside break below the $0.3810 level could open the doors for a test of $0.3750. The next major support is near the $0.350 level. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.3960 and $0.3810. Major Resistance Levels – $0.4000 and $0.4050.
The post SEC Eases Crypto Reporting Requirements: How Banks and Brokerages Can Benefit appeared first on Coinpedia Fintech News
The SEC has opened a path for banks and brokerages to avoid reporting their customers’ crypto holdings on their balance sheets, provided they mitigate associated risks. This change responds to industry pressures and unsuccessful challenges to the SEC’s two-year-old guidance in Congress as per a Bloomberg report. SEC’s change of heart is evident due to …
The post Germany’s Rapid Bitcoin Sell-Off: $521M Holdings Cut in 24 Hours appeared first on Coinpedia Fintech News
In a surprising turn of events, the German government has significantly reduced its Bitcoin holdings, now owning just 9,094 BTC (approximately $521 million) after offloading 6,458 BTC (around $379 million) within the past 24 hours. This rapid sell-off has potentially contributed to Bitcoin’s failure to cross the $60,000 mark for the second time. Earlier, Bitcoin …
Singapore isn’t in a rush to list crypto ETFs, according to SGX CEO this week as Philippines charges two over a $6M XRP hot wallet hack.
The US Securities and Exchange Commission (SEC) has been heavily criticized for its regulatory approach to the crypto industry. Politicians and industry figures have slammed the US watchdog for its “overreach” on the sector. Dave Weisberger, CoinRoutes co-founder and co-CEO, recently weighed in on the SEC’s stance and the congress members who support it. Related […]
XRP price extended its increase above the $0.440 resistance zone. The price is showing positive signs and might rise further above the $0.4550 resistance level. XRP price is attempting a recovery wave above the $0.4400 zone. The price is now trading above $0.440 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.4390 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 $0.450 resistance level. XRP Price Aims Higher XRP price remained in a positive zone above the $0.4250 level and extended its recovery wave, like Ethereum and outperformed Bitcoin. The price was able to climb above the $0.4320 and $0.4400 resistance levels. The price even cleared the $0.4450 level and spiked above $0.450. A high was formed at $0.4547 and the price is now consolidating gains. There was a minor decline below the $0.4450 level. The price tested the 50% Fib retracement level of the upward move from the $0.4307 swing low to the $0.4547 high. The price is now trading above $0.440 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $0.4390 on the hourly chart of the XRP/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.4307 swing low to the $0.4547 high. On the upside, the price is facing resistance near the $0.4550 level. The first major resistance is near the $0.4620 level. The next key resistance could be $0.4650. A clear move above the $0.4650 resistance might send the price toward the $0.480 resistance. The next major resistance is near the $0.4880 level. Any more gains might send the price toward the $0.500 resistance. Are Dips Supported? If XRP fails to clear the $0.4550 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.4450 level. The next major support is at $0.4390 and the trend line. If there is a downside break and a close below the $0.4390 level, the price might continue to decline toward the $0.4220 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4450 and $0.4390. Major Resistance Levels – $0.4550 and $0.4800.
A bipartisan group of 20 US senators has reached a new agreement on legislation that would ban all members of Congress from trading stocks.
While the full extent of the hijack is not yet known, hundreds of DeFi protocol front ends are still at risk Blockaid told Decrypt.
TrumpCoin (DJT) surged on Wednesday following the news of Donald Trump’s participation in the Bitcoin 2024 Conference. The announcement propelled the token’s price by over 55% while other Trump-inspired memecoins increased by nearly 20%. Related Reading: Drake Loses Bitcoin Bet Following Canada’s Copa America Exit, ARG Fan Token Soars 40% Trump Joins The Bitcoin Conference On July 10, Former US president and Republican candidate Donald J. Trump was officially announced as a keynote speaker at the Bitcoin 2024 Conference. The Bitcoin Conference will occur in Nashville, Tennessee, between the 25th and 27th of July. Crypto-friendly Independent Presidential Candidate Robert F. Kennedy Jr. will also participate in the upcoming event. Moreover, former pro-crypto Republican candidate Vivek Ramaswamy will join the largest Bitcoin conference in the world as a keynote speaker. The CEO of Bitcoin Magazine, the organizer of The Bitcoin Conference, expressed his enthusiasm for Trump’s participation. “July 27th we change the course of history,” David Bailey stated in an X post. The news of Trump’s involvement in the event was well-received by many industry figures. However, other industry members and investors questioned Trump’s intentions. CryptoQuant’s CEO Ki Young Ju wondered whether the former US president’s efforts were genuine: Is this a strategy to gain votes, or is it a genuine effort to make the United States a Bitcoin nation? Does anyone know? Despite the skepticism, the crypto community seems optimistic about the news, as Trump-inspired tokens soared last night. TrumpCoin And Trump-Inspired Memecoins Soar TrumpCoin’s price quickly reacted to the news, skyrocketing 55%. The token hit the $0.013 resistance level for the first time since June 27, according to DexScreener data. DJT saw a controversial launch nearly a month ago after online reports claimed TrumpCoin was the “official” Trump token. As a result, many investors sold most of their Trump-inspired memecoins, making them crash around 30%. At the time, Martin Shrekli, also known as “Pharma Bro,” claimed that the token was officially related to Trump’s camp. Shrekli stated that Barron Trump, son of the former US president, was closely involved with TrumpCoin. However, it was later revealed that Shrekli was behind the token. Crypto sleuth ZachXBT exposed the scheme on X, uncovering the truth before Shrekli admitted his involvement in an X Space. Since then, DJT’s price has gone on a descending trajectory. The token has seen a 33% decrease in the last two weeks. However, it registers a 10% increase from its price 24 hours ago, currently trading at $0.0086. Related Reading: Football Takeover? Solana-Based Token Skyrockets 350% Following Messi and Ronaldinho’s Promotion Other Trump-inspired memecoins also surged after the news. MAGA (TRUMP) rose from the $5.74 to the $6.54 price range in the following hours. The price action represented a 15% and 39.5% surge in the daily and weekly timeframes. Similarly, MAGA Hat (MAGA) registered a 20% price increase, going from trading at $0.00015 to $0.00018. MAGA’s performance saw a 50% increase from its price a week ago. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum price extended its increase above the $3,120 resistance zone. ETH could soon aim for a move above the $3,200 resistance. Ethereum is slowly moving higher above the $3,080 level. The price is trading above $3,080 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise steadily if there is a close above the $3,200 resistance zone. Ethereum Price Outperforms Bitcoin Ethereum price extended its recovery wave above the $3,050 resistance zone. ETH even climbed above the $3,150 resistance. Finally, there was a spike above the $3,200 resistance, outperforming Bitcoin. It tested the $3,220 resistance zone. A high was formed at $3,213 and the price is now correcting gains. There was a minor decline below $3,150. The price tested the 50% Fib retracement level of the upward move from the $2,894 swing low to the $3,213 high. Ethereum is now trading above $3,080 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH/USD. On the upside, the price is facing resistance near the $3,140 level. The first major resistance is near the $3,200 level. The next major hurdle is near the $3,220 level. A close above the $3,220 level might send Ether toward the $3,320 resistance. The next key resistance is near $3,440. An upside break above the $3,440 resistance might send the price higher toward the $3,550 resistance zone in the coming days. Are Dips Supported In ETH? If Ethereum fails to clear the $3,140 resistance, it could start another decline. Initial support on the downside is near $3,070 and the trend line. The first major support sits near the $3,000 zone and the 61.8% Fib retracement level of the upward move from the $2,894 swing low to the $3,213 high. A clear move below the $3,000 support might push the price toward $2,970. Any more losses might send the price toward the $2,895 support level in the near term. The next key support sits at $2,820. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,070 Major Resistance Level – $3,200
Banks' ability to exclude crypto assets from balance sheets may boost crypto services, but it raises concerns about transparency and risk management.
The post Banking regulators confirm crypto assets should be excluded from bank balance sheets appeared first on Crypto Briefing.
Solana, like Bitcoin and Ethereum, remains bearish. Though prices are higher at spot rates, the downtrend remains. Looking at the candlestick arrangement, this preview will change once bulls push prices at least above $155 and, later, $190. Will SOL Soar To $2,800? While Solana soaks in the selling pressure of last week, adding 20% from […]
Crypto miner IREN, formerly known as Iris Energy, fell 24% on the Nasdaq following a short-seller report.
Bitcoin’s fear and greed index has tumbled to “extreme fear” for the first time since January 2023, as BTC struggles to reclaim a crucial price level.
Bitcoin price started another decline from the $59,500 level. BTC is moving lower, and the bears could gain strength below the $56,000 support. Bitcoin started another decline from the $59,500 resistance zone. The price is trading below $57,500 and the 100 hourly Simple moving average. There is a key declining channel forming with resistance at $58,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it fails to stay above the $56,500 support. Bitcoin Price Dips Again Bitcoin price struggled to clear the $59,500 and $60,000 resistance levels. BTC peaked near the $59,500 resistance zone and recently started another decline. There was a move below the $58,500 level. The price declined below the $57,800 and $57,500 support levels. It tested the $56,600 zone. A low was formed at $56,593 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the downward move from the $58,963 swing high to the $56,593 low. Bitcoin price is now trading below $57,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $57,750 level. The first key resistance is near the $58,000 level or the 61.8% Fib retracement level of the downward move from the $58,963 swing high to the $56,593 low. A clear move above the $58,000 resistance might start a decent increase in the coming sessions. The next key resistance could be $58,500. There is also a key declining channel forming with resistance at $58,400 on the hourly chart of the BTC/USD pair. The next major hurdle sits at $59,500. A close above the $59,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $60,000 resistance. More Downsides In BTC? If Bitcoin fails to climb above the $58,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $56,600 level. The first major support is $56,000. The next support is now near $55,000. Any more losses might send the price toward the $53,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $56,500, followed by $55,000. Major Resistance Levels – $58,000, and $58,500.
QCP Capital has recently released a new market analysis offering insight into what might be in store for the price of Bitcoin (BTC) — more importantly, which direction it could move next. These fresh insights particularly focus on the options market. Market Anticipates Movement: Analyzing Bitcoin Options The latest report from QCP Capital has identified an interesting pattern in the Bitcoin options market, highlighting a rise in front-end volatility specific to BTC. This increase by 5 points in short-term volatility indicates that traders are preparing for larger price swings over the next few weeks. Related Reading: Bitcoin Traders Beware: Analyst Warns Of Potential Traps Amid Price Fluctuations Additionally, the increasing number of topside risk reversals suggests growing expectations among traders that prices will likely continue to increase favorably, influencing market sentiment. According to QCP Capital, this combination of higher implied volatility and attractive risk reversals sets the stage for a potential bullish price rally. The QCP analysts particularly noted: Bitcoin front-end volatility increased by 5 points this morning, with risk reversals favoring the topside, signaling the market’s anticipation of potential topside volatility. While Bitcoin has shown some signs of recovery as the market digests these fundamental analytical forecasts, volatility persists on the way up. Particularly, amid the gradual rebound, the asset still appears to be getting pulled by the bears. Earlier today, BTC traded as high as $59,313; however, at the time of writing, the asset has now shredded most of its gains for today and is now trading at $57,766, a few dollars away from its 24-hour low of $57,127. This continued volatility occurs against the backdrop of a broader financial market that is constantly changing, with a special focus now on the release of the Consumer Price Index (CPI). QCP noted: With the perceived reduction in supply, a softer CPI print could serve as the catalyst to break out of this [current] range, especially bolstered by the upcoming launch of ETH spot ETF trading next week. We identify a compelling risk-reward opportunity on the upside through Digitals. Long-Term BTC Holders Sentiment Furthermore, regardless of all of these, the underlying confidence among Bitcoin’s long-term investors remains unshaken. According to the latest on-chain data from Glassnode, this cycle’s steepest price corrections are not even persuading these investors to sell. Glassnode reported that despite several market blips, like Bitcoin dipping to as low as the $53,500 mark last week, long-term holders are as determined as ever and have not changed their aspirations in months. The data suggests that only 36% or perhaps even less of the total Bitcoin capital has moved during this week’s sell-off events – substantially lower than past major market capitulations with over 60% involvement. Related Reading: Bitcoin Falls Out Of Step With US Equities, What This Could Mean For The Crypto Market This data suggests solid behavior that supports a well-established underlying market structure even as BTC undergoes one of the toughest post-halving cycles ever. Featured image created with DALL-E, Chart from TradingView
A bipartisan group of senators introduced the COPIED Act to prevent deepfakes, combat copyright infringement, and stop unauthorized AI model training.
Crypto analyst Sheldon The Sniper recently claimed this is the last chance to buy altcoins, suggesting a massive rally may be on the horizon. As part of his analysis, he mentioned crypto tokens that could perform well when the altcoin season returns and provided key entry points for those looking to get into these altcoins. […]
Asset manager DWS is planning to launch the first regulated euro-denominated stablecoin in 2025 under a new joint venture firm called AllUnity, the firm’s CEO Stefan Hoops told Reuters on July 11. Hoops said the stablecoin will be fully regulated under Germany’s financial regulator, BaFin. He added that the firm expects crypto investors to create […]
The post DWS confirms plans to launch first regulated euro-backed stablecoin in 2025 appeared first on CryptoSlate.
The Cardano blockchain has been relatively quiet since the beginning of July, alongside an ADA price consolidation. As per on-chain transaction data, Cardano whales have also been relatively quiet since the last week of June. Daily whale inflows have steadied under 5 million ADA since the beginning of the month, save for a recent spike earlier in the week. Particularly, on-chain data from IntoTheBlock indicate a recent 1,218% spike in daily whale inflows, a development that may signal the start of an ADA price uptick. Cardano Sees 1,218% Spike In Major Metric According to the Large Holders Inflow from IntoTheBlock, the Cardano blockchain witnessed a 1,220% surge in whale inflow. As noted earlier, daily inflows into whale wallets have been on a decline since July 5. However, a surge in activity at the beginning of the week resulted in the number of inflows into whale addresses spiking from 14.51 million ADA on July 8 to 110.82 million ADA on July 9. This increase is more noticeable compared to the 2.83 million ADA recorded on July 7, which represents a 3815.9% increase in daily inflows over two days. Related Reading: Ethereum Whale Sparks Sell-Off Rumors With 11,215 ETH Coinbase Deposit The Large Holders Inflow metric tracks the amount of tokens entering into wallets holding at least 0.1% of the circulating supply of ADA. According to data from Coinmarketcap, there are currently 35.87 billion ADA tokens in circulation. Meaning each wallet being tracked by the metric has to possess at least 35.87 million ADA tokens before they can be classified as large holders or whales. According to the ADA holdings distribution, only 0.01% of the total Cardano addresses are within the range of those possessing 10 million to 100 million ADA tokens. However, they control a majority (36.26%) of the coins in circulation, which gives them a say in the overall price movement. Will ADA Price Follow? Whale activity doesn’t just affect prices directly; it can also sway overall market sentiment. When some of these big players make moves, it can either boost confidence or spread fear among other whales and retail investors. Related Reading: Bitcoin Forms Double Top Pattern On 4-Hour Chart, Analyst Reveals Targets Recent bearish sentiment saw ADA hit a nine-month low of $0.3211, but it has rebounded and is now on the verge of reversing into a positive percentage in a seven-day timeframe. At the time of writing, ADA is trading at $0.3936, which has been up by 2.25% in the past 24 hours. As a result of this short-term price increase, ADA has been driven out of a falling wedge formation on the price chart, which might ultimately result in a 70% surge above the $1 threshold. On the development side, the Cardano blockchain, which was recently accused of being a dead coin, is about to launch an upgrade to its network. Featured image created with Dall.E, chart from Tradingview.com
With the cryptocurrency market still tumbling through its never-ending cycles, a recent survey of CoinGecko touched on those embedded inside this rollercoaster – and drew out what appeared to be their sentiments. The survey ran between June 25 and July 8, collecting answers from over 2,500 respondents, most of whom have some connection to the […]
Judge Katherine Polk Failla criticized Coinbase’s attempts to subpoena SEC chair Gary Gensler in the SEC’s ongoing case against the firm. At a July 11 hearing recounted by Inner City Press, Failla noted that Coinbase’s request included Gensler’s statements before he became SEC chair in 2021. Coinbase’s lawyer explained that the company seeks Gensler’s earliest […]
The post Coinbase’s attempt to subpoena SEC chair Gary Gensler criticized by judge appeared first on CryptoSlate.
The Solana price has experienced a significant decline, mirroring the price action of major cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) over the past month. However, a crypto analyst has identified a significant parallel between the price movements of Ethereum in 2017 and Solana’s recent price performance. In a recent social media post, crypto analyst Marty suggests that these similarities could lead to a massive price increase for Solana in the coming months, potentially resulting in a 1,800% rally for the Solana price. Solana Price Set For Epic Comeback? After Solana’s explosive uptrend at the beginning of the year, which brought it close to its all-time high of $259 in March, the price has suffered a continuous decline of 58%, reaching a low of $121 on Friday, July 5. However, the crypto analyst has spotted a significant similarity between ETH and SOL’s prices when examining the price action over longer time frames. Related Reading: Bitcoin Falls Out Of Step With US Equities, What This Could Mean For The Crypto Market Marty highlights that Ethereum and Solana have experienced substantial drawdowns following their respective rallies. For instance, Ethereum faced a 95% drawdown in 2017, while Solana encountered a similar downturn before the 2021 bull run. Notably, after Ethereum’s drawdown in 2017, its price skyrocketed by 2000% over 660 days, reaching an all-time high of $4,878 in November 2021. Building on the similarities between Ethereum’s historical price action and Solana’s current performance, Marty predicts a similar price explosion lies ahead for SOL. Based on his analysis, Marty believes that the market has been around 619 days since the Solana drawdown. By drawing a parallel to Ethereum’s rally timeline, Marty suggests that there may be approximately 50 days remaining before a comparable surge commences for SOL. If Marty’s analysis holds, Solana could be on the cusp of an extraordinary rally with a projected target of $2,800, representing a 1,800% increase from the current price level. Consolidating For Potential Upside Breakout Trading steadily at $140, the Solana price has consolidated above this crucial level for the past two days, maintaining a range between the current prices and $145. While there hasn’t been a significant bounce this week, the significance of this level cannot be overstated, as it serves as a vital support floor for the token, which has been established over five months. This support floor is of utmost importance for bullish investors, as it sets the stage for potential upward movements and acts as a barrier against upper resistance levels. Related Reading: XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst In the event of a renewed bullish surge in SOL’s price action, the primary objective for bulls is to surpass the $150 level; this would pave the way to confront the most notable threshold for bears at $170, a resistance level that has persisted for four months. Overcoming this hurdle would potentially unlock further upward momentum, with targets set at $190 and, subsequently, the $200 mark. This would also position the Solana price to aim for its yearly high of $210. Conversely, it is crucial for bullish investors to closely monitor the $134 level, which represents the next significant support floor for the Solana price. Featured image from DALL-E, chart from TradingView.com
Rep. Rich McCormick called on the US government to formally declare Tigran Gambaryan as a hostage if his criminal case in Nigeria was not resolved by mid-July.
The president said he plans to stay in the race but "it's important that I allay fears."
The US House of Representatives introduced a resolution urging Nigeria to release Tigran Gambaryan, a former federal agent and Binance employee who has been detained in the country since February. Representatives Rich McCormick and French Hill submitted the resolution on July 11. The document emphasizes Gambaryan’s service as a federal agent and his role in recovering […]
The post US Congress says Nigeria ‘wrongfully detaining’ Binance exec to ‘extort’ exchange, initiates legislation to free him appeared first on CryptoSlate.
On-chain Highlights DEFINITION: The percentage of futures contracts open interest that is margined in the native coin (e.g. BTC), and not in USD or a USD-pegged stablecoin. Bitcoin’s percentage of crypto-margined futures open interest on all exchanges shows notable fluctuations. The percentage declined from around 23% in January 2024 to approximately 20% by mid-February, aligning with […]
The post Shift from crypto to cash-margined contracts continues post-2024 halving appeared first on CryptoSlate.
Leading research company Paradigm recently performed a poll showing the growing interest in cryptocurrencies among Republican voters. Related Reading: Philippines Cracks Down On Crypto Crime: 2 Russians Indicted In $7 Million Heist The survey exposed a possible change in the political scene as the 2024 elections draws near. According to the June poll of 1,025 […]
The SpaceX CEO is offering the expertise of his companies to put humans on Mars, as well as his sperm, says the New York Times.
The real question is: Who or what is the iceberg in this scenario?