Metaplanet buys 20.2 BTC for 200 million, increasing its total to 161.27 BTC amid Japan's economic challenges.
The post ‘Asia’s MicroStrategy’ Metaplanet buys another ¥200 million worth of Bitcoin appeared first on Crypto Briefing.
The post XRP Price: Can One Explosive Move Push The Price Beyond $6 and $10 levels? appeared first on Coinpedia Fintech News
Analysts across the cryptocurrency space believe that one major update, paired with strong bullish sentiment, could trigger an explosive move for XRP similar to the one seen in 2017. Egrag Crypto took to his X handle and set a minimum target of $6.4 for the cryptocurrency. Despite recent market fluctuations, the monthly candle formation is …
The post Top Solana-based Tokens To Invest As SOL Price Records Bullish Reversal! appeared first on Coinpedia Fintech News
Amid a bullish reversal in the cryptocurrency market, the Solana price has successfully regained momentum. Positively, the SOL crypto has added 6.21% to its portfolio within the past day with a change of +32.02% in its trading volume. Following this, SOL-based altcoins have displayed a similar trend by adding significant valuation to their respective portfolios …
Quick Take On July 1, Metaplanet acquired an additional 20.195 Bitcoin, bringing its total holdings to 161.26 Bitcoin. The company spent 200 million yen ($1.24 million) on its latest purchase, with an average price of 9,903,441 yen ($61,506) per Bitcoin. The acquisition is part of Metaplanet’s long-term plan to increase its Bitcoin stack. On June […]
The post Metaplanet acquires more Bitcoin as market rebounds to $63k appeared first on CryptoSlate.
Over this past weekend, Bitcoin (BTC) experienced a significant rally, pushing its price above $63,000—an increase of 5.6% since hitting a low below $60,000 on Friday. This unexpected surge occurred despite a lack of major news triggers, leading to speculations and analyses concerning the underlying causes. Here’s a deep dive into three key factors that might explain this weekend’s price action. #1 Mysterious Bitcoin Whale Activity According to DeFi^2 (@DefiSquared), the number one ranked trader on Bybit and a leading wallet on DeBank, a mysterious “whale” has been active in the Binance perpetual futures market. DeFi^2 noted significant buying activity from this entity, stating, “Since the local BTC lows on Friday, almost the entire bounce this weekend is from a single entity on Binance Perps that has hammered over $450 million in buys in 500 BTC blocks at a time during the lowest liquidity hours of the market.” Related Reading: Bitcoin Records Surge In Retail Investors – Is A Price Rebound On? DeFi^2’s analysis sparked speculations about the whale’s potential strategies, especially considering the impending Mt. Gox distribution, which could further influence Bitcoin’s liquidity and price stability. He elaborated, “Curious what the endgame is right before the start of Mt Gox distribution. With a position of this size, in order to exit they’ll either need to run the market high enough to cause a short squeeze, or end up becoming a massive cascade risk if the market goes against them.” #2 Open Interest Build Up Crypto trader Daan Crypto Trades (@DaanCrypto) provided insights into how the futures market contributed to Bitcoin’s price movements. His focus was on the relationship between open interest and market price, a critical indicator of market sentiment and potential future volatility. “During this run up, we’ve mostly seen Open Interest rise with a few relatively small short squeezes and some long profit taking in between. I think there’s a lot of underwater shorts from the ~$60K region that should get squeezed out if price were to keep grinding higher. That $65K region is still a big area to watch out for,” Daan wrote. Related Reading: Bitcoin Miner Selling Cools Off – Is This The Breakout Moment? Interestingly, open interest on Bitcoin increased from $30.97 billion on Saturday to $32.21 billion by Monday, based on data from Coinglass. Despite this rise in open interest, the weekend did not see substantial short squeezes. The liquidation of only $35 million in BTC shorts during this period was relatively modest compared to past events, such as on May 20 when the price surge from $66,000 to $71,500 resulted in $84.2 million in short liquidations. #3 Technical Breakout Another contributing factor was likely a technical breakout for Bitcoin, which shifted the market momentum. Popular crypto analyst CRG (@MacroCRG) described the weekend’s price movement as a “beauty of a breakout.” He highlighted that both funding rates and the perpetual futures basis remained flat, which usually precedes a strong market move. “That’s a beauty of a breakout. Funding + perps basis flat. Weekly close in 1H + weekly candle is a ginormous pinbar with an 8% wick (high probability reversal candle). Full send,” he stated. The technical analysis shows Bitcoin breaking a descending trendline that has been in place since it peaked at about $72,000 in early June. The break through this trendline on the 4-hour Binance chart, as noted by CRG, signals a potential reversal from the recent bearish trend. Moreover, the BTC weekly close presents a significant bullish signal—a large pinbar candle with an 8% wick—indicating potential for upward movement. At press time, BTC traded at $63,232. Featured image created with DALL·E, chart from TradingView.com
Hidden Road is now integrated with Coinbase International Exchange, OKX, Deribit, Bitfinex, AsiaNext, SIX Digital Exchange and Bullish.
The service will provide corporates, family offices and non-profits with a range of digital asset treasury management solutions.
The post Metaplanet Acquires 20.20 More Bitcoins Amid Japan’s Economic Uncertainty appeared first on Coinpedia Fintech News
With Japan’s cloudy financial outlook, publicly-traded company Metaplanet is boldly moving. So far they’ve invested a whopping 1 billion yen (about $6.26 million) in Bitcoin, ditching low-interest bonds for the world’s most famous cryptocurrency, using proceeds from its second issuance of ordinary bonds, which carry an annual interest rate of 0.5% and mature in June …
The post Top AI Tokens To Stack Ahead of The Upcoming Bull Rally! appeared first on Coinpedia Fintech News
The cryptocurrency market started the month of July on a positive note after recording a strong bearish price sentiment over the past month. Moreover, the market leader, BTC price, has surged 4.38% over the past day with a 24-hour high of $63,700 and a trading volume of $21.47 Billion. Furthermore, top Artificial Intelligence (AI) tokens …
The post Bitcoin Major Sell-Off Coming As Mt. Gox’s $9 Billion Repayment Begins Today appeared first on Coinpedia Fintech News
Bitcoin recently saw a 4% increase, bringing its trading price to around $63,350 and recovering some of its losses from June. Despite this positive movement, sentiment towards Bitcoin and the broader crypto markets remains cautious. Investors are worried about a major liquidation event as the now-defunct exchange Mt. Gox begins distributing stolen tokens this week. …
Short-term holders wallets sitting on loss may liquidate holdings near $65,000, capping a renewed upswing in bitcoin's price.
The post Memecoins Breaks Out of Range: Here’s What’s Next for WIF, PEPE, FLOKI, & BOME Prices appeared first on Coinpedia Fintech News
No sooner than the Bitcoin price demonstrated a bullish rebound, the markets flipped into a bullish favour. Memecoins also gained immense strength as the popular ones surged with double-digit gains. However, the top memecoins like Dogecoin & Shiba Inu struggle to gain traders’ attention, while others like PEPE, WIF, FLOKI, BOME, BRETT, etc and many …
Last year, Bloomberg had reported that Amber was planning to sell its Japanese unit.
Alex Thorn, Head of Research at Galaxy Digital, recently provided an analysis on the filings for spot Solana Exchange Traded Products (ETPs) by investment firms VanEck and 21Shares. These filings, made with the US Securities and Exchange Commission (SEC) on June 28, represent an aggressive move to integrate Solana (SOL) into the structured framework of […]
The post Identifying The Next Big Altcoin This Market Cycle appeared first on Coinpedia Fintech News
Cryptocurrency analyst Scott Melker recently had a conversation with Dan Tapiero, Founder of 1Roundtable Partners and the duo opened up about the current state of the market. Melker questioned Dan if a drop in the Federal Reserve’s interest rates from 5% to 3% could significantly boost Bitcoin’s price, possibly pushing it above $100,000. Melker said …
Several PolitiFi and animal-themed memecoins continued to soar in the second quarter despite the broader market downfall, which NFTs were a part of.
The post The Crypto Market Kickstarts July On A Bullish Note As BTC Price Jumps 4.38%! appeared first on Coinpedia Fintech News
After concluding the month of June on a bearish note, the valuation of the global Cryptocurrency market has recorded a jump of 4.12%, from $2.25 Trillion to $2.33 Trillion, a jump of $80 Billion within the past 24 hours. Moreover, the market leader Bitcoin price has reclaimed the $63K mark and the Ethereum token has …
Bitcoin tends toward strong performance in July, but Mt. Gox is weighing on hopes of a rebound.
The post ETH Price Shoots 4% Amidst Whale Activity Spike Ahead Of ETF Approval appeared first on Coinpedia Fintech News
A significant whale Abraxas capital has withdrawn a massive 60k ETH from Bitfinex in the past 24 hours which has shot up Ethereum price by 4%. This has resulted in an unrealized profit of nearly $6.5 million for the whale. The daily trading volume for Ethereum also shot up by 50% to $9.8 billion. Amid …
The post Roaring Kitty Faces Securities Fraud Claims In A Class Action Suit Which Is Likely To Fail appeared first on Coinpedia Fintech News
Keith Gill, aka Roaring Kitty, is facing securities fraud claims in a class action lawsuit over his recent social media posts. The complaint filed on June 28, intends to sue Gill for orchestrating a ‘pump-and-dump’ scheme with a series of social media posts beginning May 13. The complaint alleges that Gill committed securities fraud by …
The post Hong Kong’s Crypto License Promotes Inclusive Crypto Trading Unlike US’ Coinbase appeared first on Coinpedia Fintech News
Lu Tingkuang of HKbitEX has highlighted Hong Kong’s regulatory framework that stands out for its inclusivity which allows trading cryptocurrencies and security tokens under a single license. This contrasts with limited regulations in other jurisdictions like the US, where players like Coinbase can only handle cryptocurrency transactions. Hong Kong has already exhibited a commitment to …
The post Sony Group Officially Enters Crypto Market With Amber Japan Acquisition appeared first on Coinpedia Fintech News
By acquiring Amber Japan, the Japanese subsidiary of the global Amber Group which provides regulated digital asset trading services, Sony Group has officially entered the crypto exchange market. The latest move is a part of Sony’s strategy to diversify its portfolio, which already boasts a market value exceeding $100 billion. Notably, In March 2023, Sony …
The post Vitalik Buterin Expresses Strong Criticism Of US Crypto Regulation appeared first on Coinpedia Fintech News
Vitalik Buterin has expressed strong criticism of the current US crypto regulations framework arguing that cryptocurrencies are unfairly targeted. He highlighted that the primary issue with crypto regulations is that the system favors assets with unclear promises of potential returns over those with transparent and well-defined financial expectations. He underscored that projects offering clear explanations …
The post Bitcoin Rebounds; Initiates The Quarter on a Positive Note: May Hit $70,000 in July appeared first on Coinpedia Fintech News
Bitcoin price has squashed the bearish narrative for a while as the token triggers a strong rebound from the interim lows. In times when the price was expected to mark new lows below $58,000, the rebound indicates the bulls mimicked being weak and trapped the bears to maintain a consistent ascending trend ahead. However, the …
AVAX price is gaining pace above the $28.65 resistance. Avalanche could rise further if there is a clear move above the $30.00 resistance zone. AVAX price is moving higher from the $27.40 support zone against the US dollar. The price is trading above $28.65 and the 100-hourly simple moving average. There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $28.65 and $28.50 support levels. AVAX Price Aims Higher After a steady decline, Avalanche’s AVAX found support near the $25.00 zone. A support base was formed above $25.00, and the price started a fresh increase, like Bitcoin and Ethereum. The price gained over 8% and broke many hurdles near $28.50. There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair. The pair even cleared the $29.40 resistance to move into a positive zone. AVAX price is now trading above $28.50 and the 100-hourly simple moving average. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. On the upside, an immediate resistance is near the $30.00. The next major resistance is forming near the $30.50 zone. If there is an upside break above the $30.50 level, the price could accelerate higher. In the stated case, the price could rise steadily toward the $32.50 level or even $34.00. Dips Supported in Avalanche? If AVAX price fails to continue higher above the $30.00 or $30.50 levels, it could start a downside correction. Immediate support on the downside is near the $29.35 level. The main support is near the $28.65 zone and the 50% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. A downside break below the $28.65 level could open the doors for a drop toward $28.00 and the 100 simple moving average (4 hours). The next major support is near the $27.40 level. Technical Indicators Hourly MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level. Major Support Levels – $29.35 and $28.65. Major Resistance Levels – $30.00 and $30.50.
The post Here’s How Much Bitcoin Price Can Surge In July, Top Analysts Weigh In appeared first on Coinpedia Fintech News
In June, Bitcoin faced a substantial decline, dropping nearly 17% in value. Alongside this plunge, the global crypto market also experienced a notable decrease, with its total capitalization falling by 10.27% from $2.53 trillion at the beginning of the month to $2.27 trillion by its end. However, as July began, Bitcoin started to show signs …
The post Bitcoin’s Next Move To Dictate Market’s Direction; Rejection Might Lead To Altcoin Bloodbath appeared first on Coinpedia Fintech News
Bitcoin has swiftly drifted into the green zone over the weekend, registering some amusing gains. The largest cryptocurrency is currently trading above the $63k levels, raising the question of whether this upward move can be trusted. On Crypto Banter’s Dylan’s Trading Show, the analyst hinted that Bitcoin could potentially reach $70,000 in the coming weeks, …
XRP price is attempting to recover above the $0.4750 resistance zone. The price could gain bullish momentum if it settles above the $0.480 resistance zone. XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone. The price is now trading above $0.4750 and the 100-hourly Simple Moving Average. There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might gain bullish momentum if there is a close above the $0.480 resistance. XRP Price Recovers Again XRP price remained stable above the $0.4620 support and recently started a decent upward move like Bitcoin and Ethereum. The bulls were able to push the price above $0.470 to push the price in a short-term bullish zone. There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.4750 resistance zone and the 100-hourly Simple Moving Average. A high was formed at $0.4796 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. It is now trading above $0.4750 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4790 level. The first major resistance is near the $0.4800 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance might send the price toward the $0.4880 resistance. The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance. Another Drop? If XRP fails to clear the $0.480 resistance zone, it could start another decline. Initial support on the downside is near the $0.4745 level and the 50% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. The next major support is at $0.4730 and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4730 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4640 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 – $0.4745 and $0.4640. Major Resistance Levels – $0.4800 and $0.4825.
The post Bitcoin: Amid Bearish Predictions Price Shoots Above $63000; What’s next? appeared first on Coinpedia Fintech News
Bitcoin is once again rebounding from a critical support area and the price chart may hint at the next short-term price target. Analyst Josh of Crypto World said that as the weekend ends, an increase in volatility is expected with the new week due to higher trading volumes and activity. In his latest analysis video, …
The lawsuit against Keith Gill, known as "Roaring Kitty," over alleged stock manipulation highlights the potential legal and financial risks associated with influential social media activity in the stock market.
The post Roaring Kitty hit with new lawsuit over alleged GameStop pump-and-dump scheme appeared first on Crypto Briefing.