The Labour Party has promised to make the UK “a global leader in tokenization.”
The Labour Party has promised to make the UK “a global leader in tokenization.”
Amid the growing exploits among high-ranking celebrities, Solana blockchain remains the top pick by these hackers to carry out their fraudulent operations. In a shocking turn of events, music sensation and superstar Doja Cat has become the latest victim of celebrity hacks as her X (formerly Twitter) account got compromised to endorse a fake Solana-based […]
A recent study revealed that China leads the world in AI usage and investment, while the U.S. remains the leader in fully implementing the technology.
The Bitcoin price is already down more than -22% since the mid-March high over $73,000. While BTC is currently stabilizing above $57,000 following the recent price crash, there could be even more downside ahead if history repeats, according to Jacob Canfield, a trading mentor at the Trading Mastery. Canfield’s latest analysis points to a potential further decline in the Bitcoin price, potentially reaching lows not seen since the beginning of the year. Why Bitcoin Price Could Crash Another 33% Canfield’s analysis on TradingView hinges on historical patterns observed in Bitcoin’s pricing trends. “Historically, Bitcoin loves to retest the yearly open levels,” Canfield notes. According to him, these retests can either confirm bearish or bullish trends but are a consistent feature in Bitcoin’s market behavior. Since 2017, each year’s opening price has been retested within the year, with the notable exceptions of 2023 and 2024 (thus far). Related Reading: Massive Mt. Gox Bitcoin Shift Unlikely To Disrupt Prices, Says CryptoQuant CEO “Since 2017, the yearly open has been retested every year except 2023 and 2024,” Canfield remarked. For instance, the bearish retest of the 2018 opening BTC price occurred right before the COVID-19 pandemic crash, and similar patterns were observed in subsequent years. “Even the 2019 yearly open at $3,850 was retested during the 2020 Covid Crash,” the crypto analyst added. Moreover, the 2020 yearly open was retested within the first 3 months of 2020. The 2021 opening price was also retested and marked the lowest point before a significant rally that led to a peak of $69,000, just before the collapse of FTX. “The 2022 Yearly open was a bearish retest similar to 2018 before the lows around $16,500. Similar to the 2021 yearly open retest giving us our bottom, this gave us our local top,” Canfield observed. Related Reading: Is Bitcoin Undervalued Now? Industry Expert Decodes The Market State Looking ahead, the crypto analyst speculates about the potential bottom for Bitcoin in the coming months. “Here is where it gets interesting. The 2023 and 2024 yearly opens have not been retested yet. The question is, do we form a bottom at the 2024 yearly open before more all time highs or do we capitulate all the way down to the 2023 yearly open at $16,500 like we did in 2019.” Crucial Indicators To Watch The answer may lie in several technical indicators that Canfield considers pivotal. First, Canfield mentions the 0.618 Fibonacci retracement level. This indicator aligns closely with the projected yearly open for 2024, suggesting a higher likelihood of finding support in the $38,000 to $42,000 range. Notably, a price crash this low would mean another -33% for BTC holders. The second crucial indicator is the weekly 200 EMA/MA Ribbon. This indicator is also converging around the 2024 opening price. It reinforces the potential for this level to act as a strong support zone. “This gives us a higher probability that we will form a bottom around that region and the 2023 yearly open may act like the 2017 yearly open and never get retested,” Canfield speculates. Despite the bearish outlook, Canfield’s analysis leaves room for various scenarios, emphasizing the cyclical nature of Bitcoin’s market dynamics and the role of historical precedents in forecasting future trends. “Either way, I think this gives us a high likelihood target based on historical precedence for where we may find a local bottom,” he concludes, inviting further discussion and analysis from the community. At press time, BTC traded at $57,479. Featured image from iStock, chart from TradingView.com
With the World Chain developer preview, devs can deploy infrastructure on a “gated mainnet,” as World Chain is skipping a testnet.
World Chain's launch could significantly enhance scalability and user experience, potentially accelerating the adoption of Worldcoin's digital identity system.
The post Worldcoin opens World Chain L2 for developer preview appeared first on Crypto Briefing.
All 20 assets within the CoinDesk 20 are trading higher today.
The US House Armed Services Committee’s latest National Defense Authorization Act (NDAA) draft for fiscal year 2025 includes significant provisions for exploring blockchain technology’s role in national security and defense applications. A committee-approved draft was sent to the full House for consideration, and the Senate Armed Services Committee advanced it to the Senate floor on […]
The post US Armed Services ramp up exploration of blockchain for military use appeared first on CryptoSlate.
The post US Senate Pushes Defense Secretary To Adopt Blockchain For National Defense appeared first on Coinpedia Fintech News
The United States Senate Committee on Armed Services has taken a significant step towards integrating advanced technology into national defense. The committee has directed Secretary of Defense Lloyd Austin to investigate potential applications of blockchain technology within the military. The directive issued on July 9, focuses particularly on enhancing supply chain management and strengthening national …
The “second-mover advantage” phenomenon is playing out in real-time in the DePIN sector.
Argentina has emerged as the top market by numbers of visitors on Binance, one of the world’s largest crypto exchanges.
The post Mysterious 150 Million XRP Moved Between Two Wallets appeared first on Coinpedia Fintech News
A Mysterious transfer of 150 million XRP between Ripple and an unknown address has caught the attention of the community as Whale Alert reported this significant movement. The recipient address, ‘rP4X2h’, linked to the alleged Ripple wallet, was initially activated in 2023, with a transfer of 70 million XRP. Before this transaction, the address already …
The post Singapore Exchange Says Currently No Plan To List BTC Or Crypto ETFs appeared first on Coinpedia Fintech News
Singapore Exchange has currently no plans to permit cryptocurrency listings, which is contrary to the growing global adoption of crypto ETFs in Hong Kong, the United States, Australia, and Canada. At the Reuters NEXT conference, CEO Loh Boon Chye noted that the current market conditions are not conducive to introducing such products. When asked about …
The post CryptoQuant’s Analyst Says Bitcoin Bull Run To Begin In Q3 appeared first on Coinpedia Fintech News
Recent on-chain data from CryptoQuant reveals a unique opportunity in the Bitcoin market that appears only once within a bull cycle. Miners’ profitability is showing patterns similar to those before significant price surges in past bull markets. Could this indicate the end of the current correction period and the start of a new bull rally? …
The surge in USDC volume highlights a market shift towards regulated stablecoins, potentially reshaping the crypto landscape and compliance standards.
The post USDC weekly volume soars 155% in 2024 following MiCA implementation appeared first on Crypto Briefing.
Defunct crypto exchange Mt. Gox’s recent Bitcoin transfers have continued to cause concerns for the crypto community, considering the amount of selling pressure they could place on the flagship crypto. However, Cryptoquant’s founder, Ki Young Ju, has helped to ease these concerns, recently explaining why these transactions might not affect the market. Why Mt Gox’s […]
After a decade of tax incentives and transparency attracting philanthropists to crypto, Web3 innovation is adding fuel to the fire.
This means that select developers can apply to build, test, and give feedback to Tools For Humanity, the developer firm behind Worldcoin, according to a press release shared with CoinDesk.
The German government entity has moved hundreds of millions worth of BTC to exchanges in the past few weeks, contributing to selling pressure and bearish sentiment.
The price of Bitcoin has crashed again as the German government continues its BTC selling spree. The government has already sold millions of dollars worth of Bitcoin, putting immense pressure on the pioneer cryptocurrency amidst broader market volatility. German Government Initiates Massive BTC Sell-Off Bitcoin’s consistent price decline has been driven by multiple factors including outflows from Spot Bitcoin ETFs, unfavorable market conditions and Mt Gox’s BTC redistribution plans. Lately, the cryptocurrency’s price has been further pressured by the substantial BTC sell-offs executed by the German government. Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins For weeks, Germany has sold thousands of Bitcoin worth hundreds of millions of dollars. On June 25, blockchain analytics platform Arkham Intelligence reported that the government sold 900 BTC worth about $52 million. They moved 400 BTC to Coinbase and Kraken and transferred the rest to an unidentified address. Additionally, last week the German government executed another major Bitcoin sell-off, transferring a whopping 3,000 BTC valued roughly at $172 million to exchanges. The government moved 1,300 BTC to Kraken, Bitstamp, and Coinbase and sold the rest to an unknown wallet address. The most recent BTC transaction was on Monday, June 8, when the German police sold an additional 2,738.7 BTC worth approximately $155.3 million. Arkham Intelligence revealed that the Bitcoin was likely sold to crypto exchanges or market makers, including Kraken, Cumberland, 139Po, and address bc1qu. As of writing, the German government still holds a staggering amount of Bitcoin. Arkham’s data has revealed that the government’s holdings amount to 26,053 BTC valued at approximately $1.49 billion. Despite the BTC’s recent crash, the German government Bitcoin continues to sell their BTC holdings at a rapid pace. Joanna Cotar, a member of the German Bundestag, the National parliament of the Federal Republic of Germany, has shown her displeasure with the government’s decision to sell off their BTC holdings. Cotar disclosed that the government should be strategically holding BTC and not selling them off. She disclosed that their recent BTC sell-offs were counterproductive and not sensible, urging the government to utilize their BTC as a strategic reserve currency. Bitcoin Price Update After Crash Over the past week, Bitcoin’s price fell by a substantial 8.71% after crashing by 17.10% in the past month. This decline has been attributed to unabating selling pressures and recent bearish trends in the crypto market. Related Reading: XRP Price: Crypto Analyst Identifies ‘Point Of Control’ That Could See A Repeat Of 2017 Since the beginning of June, Bitcoin’s price movements have been displaying weakness and underperforming significantly. Despite inflows into Spot Bitcoin ETFs, Bitcoin had remained volatile under the $60,000 price mark, showing minor upward momentum. Including the German government’s BTC sell-offs, crypto analyst, Ali Martinez has also revealed in an X post that Bitcoin whales have sold over 30,000 BTC worth approximately $1.8 billion in the past month. This 30,000 BTC sell-off which surpasses the German government’s current Bitcoin holdings has contributed significantly to Bitcoin’s decline to its present price of $57,039, according to CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Valdi allows customers to use available GPU compute cycles in data centers across the world.
Quick Take The first half of 2024 has witnessed significant developments in the digital assets market, particularly for Bitcoin and Ethereum, as highlighted in a comprehensive report compiled by Glassnode and CME. The report delves into the insights and evolution of the market following the launch of the US Bitcoin ETFs on Jan. 11 and […]
The post Bitcoin calendar Open Interest surges as institutional interest grows via CME appeared first on CryptoSlate.
The post Crypto Regulations in Canada 2024 appeared first on Coinpedia Fintech News
Canada, A North American country with a population of 40 million, is known for its strong economy and rich natural resources. Its capital is Ottawa, and its official currency is the Canadian Dollar. The Toronto Stock Exchange ranks as the ninth-largest globally. In 2014, Canada became the first country to regulate cryptocurrency, amending laws to …
The latest price moves in bitcoin (BTC) and crypto markets in context for July 9, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The new wallet is able to bypass need for seed phrases, browser extensions or email verifications to use decentralized apps.
Republicans have included Bitcoin and crypto in their official platform for the 2024 election which is set for a final vote July 9, according to the Hill. The inclusion of crypto and Bitcoin reflects former President Trump’s recent statements and a broader shift within the party toward embracing digital assets and blockchain technology. Per the […]
The post Bitcoin to be added to official Republican 2024 platform after today’s vote appeared first on CryptoSlate.
In the legal battle between Ripple and the US Securities and Exchange Commission (SEC), the XRP army remains on edge as they await a potential ruling on remedies and penalties. The legal proceedings concluded 61 days ago with the final regular filings. Speculation within the community is now high, with members like @CRYPTO_hitman pondering yesterday […]
The co-founder and former Valkyrie CEO will the digital asset management firm to "push boundaries" of crypto investing.
Exploring blockchain for national security could enhance supply chain integrity and data security, influencing broader crypto policy and adoption.
The post Senate urges DOD to explore blockchain tech for national security appeared first on Crypto Briefing.