The BCSC finds LiquiTrade guilty of running an illegal exchange, which could result in sanctions ranging from fines to a ban.
The BCSC finds LiquiTrade guilty of running an illegal exchange, which could result in sanctions ranging from fines to a ban.
The post Bitcoin Price Prediction 2024: BTC Price Has a 60% Chance to Reach New High by October appeared first on Coinpedia Fintech News
After a major crypto capitulation last week, Bitcoin’s (BTC) price has been attempting to regain the support level of around $56k. However, increased fear of further crypto capitulation ahead has seen the total digital assets valuation drop around 3.3 percent in the past 24 hours to hover about $2.14 trillion on Monday during the early. …
The absence of an outright majority could hamper the passing of new legislation, including crypto regulations.
On Saturday, Bitcoin experienced a robust rally, climbing above $58,250. Despite this upward movement, it was unable to sustain the momentum and close above the 200-day Exponential Moving Average (EMA). This led to the formation of a bearish engulfing candlestick pattern on Sunday, signaling potential downside momentum. Currently, Bitcoin is trading below $56,000, positioning it at a critical juncture in terms of technical analysis and market sentiment. Sina G, the COO and co-founder of 21st Capital, provided a breakdown of the factors influencing Bitcoin’s price trajectory today, particularly highlighting recent declines and evaluating its undervalued state through sophisticated metrics. Starting with a historical overview, Sina pointed out that Bitcoin had seen a drastic 26% decline from a March peak of $73,000, settling around $56,000 in recent weeks. Related Reading: Bitcoin Critic Calls ‘Institutional Demand’ A Myth Following Recent Price Slump This sharp decrease has been attributed to several macroeconomic and sector-specific factors. According to him, Bitcoin’s fall from the $73,000 peak in March to $56,000 aligns with historical bull market corrections, which often see significant yet temporary retracements. The influence of Bitcoin ETFs has been pivotal. Initially, these ETFs contributed significantly to the price surge from $16,000 to $73,000, as investors engaged heavily in a buy-the-rumor, buy-the-news strategy. “Up to mid-march ETF flows were very strong and the market moved up. Since then ETFs slowed down and bankruptcy outflows took over, causing a weak price action all the way down to $56K. A notable recent impact on Bitcoin’s price has been the selling activity of the German government, which disposed of Bitcoin seized in 2013 from the pirated content platform Movie2k.to. “The government’s decision to liquidate approximately 10,000 coins across three transactions coincided directly with significant price drops on specific dates in June and July,” he noted. This selloff contributed to a steep 24% crash in June and July, exacerbated by the large volume of Bitcoin introduced into the market. Related Reading: Bitcoin Price Crashes Below $54,000: Top-5 Reasons Is Bitcoin Undervalued? To address whether Bitcoin is currently undervalued, Sina turned to the Volatility-Adjusted Price Level Index (VPLI), a proprietary metric developed by 21st Capital. “Currently, our VPLI is at -3.57, which indicates that Bitcoin is significantly below its fair price,” Sina stated. He further clarified that historically, a VPLI score of -10 corresponds with bear market bottoms, placing the current reading in a context that suggests Bitcoin is potentially undervalued. “This puts us in the 41th percentile of values – i.e., Bitcoin has only spent 41% of below this VPLI reading (most of which during the bear markets). So the risk-reward balance is favorable,” he added. Looking forward, Sina highlighted two critical short-term indicators that could dictate Bitcoin’s immediate price movements: the continuation of Bitcoin sales by the German government and the behavior of the perpetual swaps funding rate. “Recently, the funding rate has been negative, which is typically a bearish signal. This suggests that many traders are taking short positions, anticipating further declines, which paradoxically might indicate that the market is close to reaching a bottom,” he concluded. At press time, BTC traded at $55,835. Featured image created with DALL·E, chart from TradingView.com
The post Solana & This Popular Altcoin May Go Bullish Soon—Will They Outperform Bitcoin & Ethereum? appeared first on Coinpedia Fintech News
The intensifying bearish action during the weekend has been a major concern over the crypto markets nowadays. The bears are extracting the weekly profits quickly, leaving the market participants bewildered about the next course of action. However, two of the popular altcoins, Solana & Chainlink, are fighting the bearish heat, which may either result in …
Bitcoin, the pioneering cryptocurrency, is grappling with a confluence of challenges that have eroded its early 2024 gains and shrouded its near-term future in uncertainty. The most recent concern stems from the long-awaited disbursement of Bitcoin by the defunct Mt. Gox exchange to creditors. This $8 billion windfall has investors on edge, fearing a potential […]
The protocol was one of the first ICOs on Ethereum, raising $8.6 million worth of ether in 29 minutes and setting the precedent for thousands of other ICOs in the years since.
The post Triangle Fails To HODL XRP Price Within, Warns $0.40 Crackdown appeared first on Coinpedia Fintech News
Following the bearish week, the crypto market witnesses a massive dump in the altcoins. Amidst the crashing altcoins, XRP price broke below the $0.50 psychological mark with an 11% fall last week. As the XRP price loses the crucial mark of $0.50, the supply pressure is expected to increase this week. Currently, the altcoin hangs …
Onchain Highlights DEFINITION:Skew is the relative richness of put vs call options, expressed in terms of Implied Volatility (IV). For options with a specific expiry, 25 Delta Skew refers to puts with a delta of -25% and calls with a delta of 25% to demonstrate this difference in the market’s perception of implied volatility. 25 […]
The post Bitcoin’s 25 Delta Skew experiences sharp fluctuations amid correction appeared first on CryptoSlate.
A victim who claims to have lost $1.7 million said a scammer called them claiming to be from Coinbase and sent emails that looked like they came from the crypto exchange.
A victim who claims to have lost $1.7 million said a scammer called them claiming to be from Coinbase and sent emails that looked like they came from the crypto exchange.
The post Bitcoin Bloodbath: Gold To Rally 100%, But What About Digital Gold? appeared first on Coinpedia Fintech News
Ronald-Peter Stoeferle, Managing Partner of Incrementum AG, recently joined David Lin for a discussion. During the conversation, Stoeferle addressed shifting sentiments towards gold as a safe haven asset in light of recent market dynamics. He was asked about the perception of gold transitioning from a safe haven hedge to a more risk-on asset and its …
The post Will Ethereum (ETH) Price Surge With The EthereumETF Listing This Week? appeared first on Coinpedia Fintech News
The cryptocurrency market started the second week of July on a bearish note by recording a correction of 4.07% in its global market capitalization. Further, top tokens have experienced a strong pullback toward their crucial support levels, indicating a strong bearish sentiment. Moreover, the altcoin leader, Ethereum price, has displayed a similar trend by dropping …
The post Has Memecoin Mania Over: When Will PEPE Price Regain the Lost Momentum to Reclaim $0.0001? appeared first on Coinpedia Fintech News
While the crypto markets have been crashing since the beginning of the day’s trade, the memecoins have also lost control over the rally. The popular ones are facing massive pullbacks of over double-digit margins. Pepe’s price also appears to be in huge distress, as the token has been failing to rebound after a steep correction. …
Jump Crypto has unveiled a new bug bounty initiative, targeting the inaugural release of Firedancer, a third-party Solana validator client. Developed by Jump Crypto, Firedancer v0.1, also known as Frankendancer, is set to enter an intensive security vetting phase, accompanied by a $1 million prize pool facilitated through the cybersecurity platform, Immunefi. Firedancer represents a […]
The post Major Events Upcoming For The Crypto Community This Week : appeared first on Coinpedia Fintech News
This week is set for some major events for the crypto community, as investors eagerly await spot ETH ETF approvals. Further in this week, the US House is likely to vote to overturn the SAB 121 veto. In May, the Biden administration decided to veto the decision by lawmakers to repeal the SAB 121 laws. …
The post Netmarble Migrates MARBLEX and Three IP Games to Immutable zkEVM appeared first on Coinpedia Fintech News
Netmarble, a South Korean listed game publisher, migrated its game platform MARBLEX and three IP games to Immutable zkEVM. The total number of well-funded games built on Immutable has reached more than 380, with nearly 2 million active users. The number of Immutable Passport wallet registrations reached 1 million in June. MARBLEX migration to Immutable …
The post Bitcoin Price Today : Whale Selling and Market Fear Hit BTC Price appeared first on Coinpedia Fintech News
Bitcoin (BTC) price closed on a bearish note last week after slipping below the crucial support level between $56,500 and $61,466. Although the flagship coin seems to form a macro bullish flag, mild panic has increased the overall fear. As Bitcoin price hovered around $55,422 on Monday during the early European session, the fear and …
Germany has been running down its coin stash since mid-June.
The post Whale Transaction Alert: A Whale Transfers 1.10 Million Pendle Tokens On Binance For Sale! appeared first on Coinpedia Fintech News
Reportedly, a whale transferred 1.10 Million PENDLE tokens worth approximately $3.8 Million during the early trading hours. This whale has transferred the holding to Binance with the intention of selling. This leaves 1 Million PENDLE tokens worth $3.5 Million. Notably, the whale had bought 3.44 Million Pendle crypto tokens from Centralized (CEX) and Decentralized (DEX) …
Firedancer is a highly anticipated new validator client for the Solana blockchain, and its creator is calling on developers to look high and low for any critical bugs.
Firedancer is a highly anticipated new validator client for the Solana blockchain and its creator is calling on devs to look high and low for any critical bugs.
The post Top Four Best Cryptos To Buy Now appeared first on Coinpedia Fintech News
The market sentiment has been dwindling for the upcoming bull market later this year in 2024 and into 2025. However, analyst Altcoin Buzz said that there is excitement revolving around interoperability in the crypto space. Specifically, there is a focus on projects that offer cross-chain information and messaging platforms, including bridges and Layer 0 chains. …
The post Crypto Investment Strategy: Top 5 Best Bet Altcoins Amid Market Crash appeared first on Coinpedia Fintech News
In a recent video, analyst Michaël van de Poppe delves into the ongoing crypto crash and why his altcoin strategy failed. All this and much more! Read on. Understanding the Current Crypto Crash Van de Poppe begins by noting the significant downturn in the crypto market, with altcoins like Arbitrum and Optimism hitting unprecedented lows …
The post Bitcoin Miner TeraWulf Is Open To Merger To Widen Profit Margin appeared first on Coinpedia Fintech News
Bitcoin mining firm TerraWulf says it would consider a merger if there’s an opportunity to widen its profit margins. This comes following the expectations of more mergers and acquisition offers in the mining sector, following the latest Bitcoin halving. TeraWulf is focusing more on “organic growth” at its existing sites and shareholder returns. TeraWulf mines …
The post Golem Makes Large ETH Transfers, Initiates Ethereum Staking Tests appeared first on Coinpedia Fintech News
Golem has attracted attention with the large ETH transfers to crypto exchanges. In the last 37 days, approximately $115 million worth of 36,000 ETH was transferred to leading exchanges like Binance, Coinbase, and Bitfinex. Despite the large transfers, Golem still holds a reserve of 231,400 ETH, valued at approximately $656 million. Recently, Golem Network announced …
Dogecoin struggled to recover above the $0.1150 resistance zone against the US Dollar. DOGE is consolidating and might extend losses below $0.100. DOGE price is struggling to clear the $0.1150 resistance zone. The price is trading below the $0.1080 level and the 100-hourly simple moving average. There is a short-term bearish trend line forming with resistance at $0.1050 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1080 and $0.1150 to gain bullish momentum. Dogecoin Price Takes Hit After a decent recovery wave, Dogecoin price remained below the $0.1150 resistance zone. DOGE formed a high near $0.1141 and recently started a fresh decline like Bitcoin and Ethereum. There was a move below the $0.1080 support level. The price dipped below the 50% Fib retracement level of the upward move from the $0.09134 swing low to the $0.1141 high. However, the bulls are now active near the $0.100 zone. Dogecoin is now trading below the $0.1080 level and the 100-hourly simple moving average. It is also above the 61.8% Fib retracement level of the upward move from the $0.09134 swing low to the $0.1141 high. If there is a fresh increase, the price might face resistance near the $0.1050 level. There is also a short-term bearish trend line forming with resistance at $0.1050 on the hourly chart of the DOGE/USD pair. The next major resistance is near the $0.1080 level. A close above the $0.1080 resistance might send the price toward the $0.1150 resistance. Any more gains might send the price toward the $0.1250 level. The next major stop for the bulls might be $0.1320. More Downsides In DOGE? If DOGE’s price fails to gain pace above the $0.1150 level, it could continue to move down. Initial support on the downside is near the $0.100 level. The next major support is near the $0.0950 level. If there is a downside break below the $0.0920 support, the price could decline further. In the stated case, the price might decline toward the $0.0850 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.100, $0.0950 and $0.0850. Major Resistance Levels – $0.1050, $0.1080, and $0.1150.
The post With Bitcoin Under $56K, Why Is The Crypto Market Crashing Today? appeared first on Coinpedia Fintech News
With a 4% drop on Sunday, the bears overwhelmed the Saturday recovery in Bitcoin and put the altcoins market back into the bear zone. Undermining the chances of a recovery week, the increasing supply influences a downfall this Monday in the early Asian trading hours. Bitcoin is trading at $55,269 with an intraday loss of …
XRP price is struggling below the $0.4250 support zone. The price is consolidating losses and might struggle to recover above the $0.450 resistance. XRP price struggled to recover above $0.450 and started another decline. The price is now trading below $0.4250 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might recover, but the upsides might be limited above $0.4350 and $0.450. XRP Price Moves In The Red Zone XRP price struggled to clear the $0.450 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.4320 support. The pair even declined heavily below the $0.4250 support level. There was a drop below the 50% Fib retracement level of the upward move from the $0.3826 swing low to the $0.4498 high. The bulls are now trying to protect the $0.4050 support zone. It is now trading below $0.4250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4160 level. The first major resistance is near the $0.420 level. There is also a connecting bearish trend line forming with resistance at $0.420 on the hourly chart of the XRP/USD pair. The next key resistance could be $0.4220. A clear move above the $0.4220 resistance might send the price toward the $0.4380 resistance. The next major resistance is near the $0.450 level. Any more gains might send the price toward the $0.4650 resistance. More Losses? If XRP fails to clear the $0.420 resistance zone, it could start another decline. Initial support on the downside is near the $0.4050 level or the 61.8% Fib retracement level of the upward move from the $0.3826 swing low to the $0.4498 high. The next major support is at $0.40. If there is a downside break and a close below the $0.40 level, the price might continue to decline toward the $0.3750 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4050 and $0.400. Major Resistance Levels – $0.420 and $0.4380.