The Bitcoin price experienced significant turbulence as the US and German governments executed transactions involving seized Bitcoin (BTC) holdings, leading to another BTC retracement. According to market intelligence platform Arkham, the US government has transferred nearly 4,000 BTC, originally seized from drug trafficker Banmeet Singh, to Coinbase. Meanwhile, the German government engaged in substantial Bitcoin […]
BVNK has launched Layer1, a new self-custody platform transforming stablecoin transactions with quick integration and complete control.
The post BVNK debuts Layer1 to enhance stablecoin payment systems appeared first on Crypto Briefing.
The post Top Newly Launched Altcoins Poised for a 100X Surge in July appeared first on Coinpedia Fintech News
As the market witnesses a relief rally in underrated tokens, the meme coins are sure to lead the way. Being the best-performing sector in the crypto world, the hype-focused community-driven coins are the choice to go in 2024. With the top names like PEPE, WIF, BONK and more leading the way, some low-cap underrated meme …
The post XRP Price at the End of a Prolonged Consolidation, May Reach $2 If Brokeout Out of the Range appeared first on Coinpedia Fintech News
After remaining elevated for over 20 months, the XRP price has faced extreme bearish heat in the past few weeks. This has weakened the bulls to a large extent, as they are unable to defend the crucial support despite the decreased selling pressure. However, the trend is expected to flip very soon as the accumulation …
Hashed Ventures said it’s in talks with other South Korean crypto firms to help bring them to Abu Dhabi.
A Vanuatu policy consultant tells Cointelegraph the bill had been ready for a few years but had been delayed due to several cabinet changes.
On-chain data shows a Litecoin whale has withdrawn around $20 million in LTC from Binance, which could be bullish for the asset’s price. Litecoin Whale Has Just Made A Large Outflow From Binance According to data from the cryptocurrency transaction tracker service Whale Alert, a massive transfer has been spotted on the Litecoin blockchain during […]
Rarimo has launched RariMe, a competitor to Worldcoin, and an app that allows users to generate passport zero-knowledge proofs (ZKPs) verifying the uniqueness of individuals without revealing their identity, it announced on Thursday.
The AI-generated ad whipped up backlash from viewers who described it as a “weird dream” and “baffling.”
If crypto-friendly Republican candidate Trump goes off the rails, Republicans may wince, but the GOP ticket will likely not change.
As the crypto industry gains weight in politics, candidates’ stances on cryptocurrencies make the difference when voting. Recently, the industry critic congressman Jamaal Bowman lost New York’s 16th District Democratic primary to George Latimer. Representative Bowman’s campaign was opposed by the crypto Super Political Action Committee (PAC) Fairshake. Related Reading: DeFi Protocol Alex Lab $4 […]
Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term. ADA price started a fresh decline and traded below $0.3880. The price is trading below $0.3850 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could extend losses and test the $0.370 support zone. Cardano Price Dips Again In the past few days, Cardano attempted a recovery wave above the $0.3650 zone like Bitcoin and Ethereum. However, ADA failed to clear the $0.40 resistance zone. A high was formed at $0.3967 and the price started a fresh decline. There was a move below the $0.3880 and $0.3865 support levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. Besides, there was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair. ADA price is now trading below $0.3850 and the 100-hourly simple moving average. If there is another upward move, the price might face resistance near the $0.3850 zone. The first resistance is near $0.3880. The next key resistance might be $0.40. If there is a close above the $0.40 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4150 region. Any more gains might call for a move toward $0.4250. More Downsides in ADA? If Cardano’s price fails to climb above the $0.3850 resistance level, it could continue to move down. Immediate support on the downside is near the $0.3795 level or the 50% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. The next major support is near the $0.370 level. A downside break below the $0.370 level could open the doors for a test of $0.350. The next major support is near the $0.3350 level. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.3790, $0.370, and $0.350. Major Resistance Levels – $0.3880 and $0.400.
In a notable legal development involving crypto, Remy St. Felix, a 24-year-old from West Palm Beach, Florida, was recently convicted by a federal jury in Greensboro, North Carolina, for orchestrating a series of violent home invasions targeting crypto owners in states, including North Carolina, Florida, Texas, and New York. This case sheds light on a […]
On-chain data shows Bitcoin is trading near a level that has historically acted as the boundary for the ‘euphoria’ phase of the market. Bitcoin Is Not Far From This Long-Term Holder Cost Basis Level According to the latest weekly report from Glassnode, BTC’s recent consolidation has been near the historical boundary between the ‘equilibrium’ and ‘euphoria’ phases of the bull market. Related Reading: Ethereum Price Tied To BitMEX Whales: Quant Uncovers Link The level in question multiplies the Realized Price for the long-term holders. The Realized Price here refers to an on-chain metric that, in short, keeps track of the average cost basis of the investors on the Bitcoin network. When the cryptocurrency’s spot price is higher than this indicator, the investors can be assumed to be holding a net amount of unrealized profit. Similarly, the asset’s value under the metric could suggest the dominance of losses on the blockchain. In the context of the current topic, the Realized Price, specifically for the “long-term holders” (LTH), is of interest. The LTHs refer to the Bitcoin investors who have held onto their coins for more than 155 days without having sold/transferred them on the network. Now, here is a chart that shows the trend in the Realized Price of the LTHs, as well as a couple of its multiples, over the past decade: As displayed in the above graph, the Bitcoin LTH Realized Price is trading around $21,800 right now. This is significantly lower than the current spot price of the asset, so this cohort would be holding considerable profits currently. Statistically, the longer an investor holds their BTC stack, the less likely they become to sell the coins at any point. As such, the LTHs, who tend to hold for long periods, include the most resolute holders in the market. This group doesn’t react easily to market events, like rallies or crashes. That said, when their gains grow very large, even these HODLers start getting tempted by the allure of profit-taking. Historically, this has happened as the Bitcoin market has approached the ‘euphoria’ phase. Glassnode defines it as that market phase when the price breaks above the 3.5x multiplier of the LTH Realized Price. This level currently stands at $76,400, just above the consolidation range the cryptocurrency has recently been stuck in. The chart shows that during the past two bull runs, the asset’s price blew up when it broke past this level. Related Reading: This Historical Ethereum Top Signal Is Yet To Appear This Cycle It remains to be seen how long Bitcoin takes to breach this boundary to escape from the current ‘equilibrium’ phase and fill investors with euphoria. BTC Price Bitcoin has declined toward the lower end of its consolidation range during the past few weeks, as its price is now trading around $61,000. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
XRP price struggled to recover above the $0.480 resistance zone. The price is again moving lower and might drop below the $0.4680 support. XRP price failed to extend gains above the $0.4800 resistance zone. The price is now trading below $0.4750 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $0.4720 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might again face rejections near $0.4720 and $0.480. XRP Price Retreats XRP price attempted a recovery wave above the $0.4720 level like Bitcoin and Ethereum. However, the bears were active near the $0.480 resistance zone. A high was formed at $0.4797 and the price started a fresh decline. There was a move below the $0.4750 and $0.4720 levels. The price declined below the 50% Fib retracement level of the upward move from the $0.4619 swing low to the $0.4797 high. There is also a major bearish trend line forming with resistance at $0.4720 on the hourly chart of the XRP/USD pair. The price is now trading below $0.4750 and the 100-hourly Simple Moving Average. However, it is finding bids near the 61.8% Fib retracement level of the upward move from the $0.4619 swing low to the $0.4797 high. On the upside, the price is facing resistance near the $0.4720 level. The first major resistance is near the $0.4750 level. The main hurdle is still near $0.480. A clear move above the $0.480 resistance might send the price toward the $0.4850 resistance. The next major resistance is near the $0.500 level. A close above the $0.500 resistance zone could send the price higher. The next key resistance is near $0.5120. Any more gains might send the price toward the $0.5250 resistance. More Losses? If XRP fails to clear the $0.4720 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4680 level. The next major support is at $0.4620. If there is a downside break and a close below the $0.4620 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4320 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 – $0.4680 and $0.4620. Major Resistance Levels – $0.4720 and $0.4800.
State Street believes the “next level of growth” will come from investment options offering more than “pure spot” Bitcoin.
The XRP price is seeing another triangle formation on its chart that could point to an impending rally. One important fact about this triangle formation is the fact that it led to a significant rally seven years ago, and if history repeats itself, then XRP may be set for a bullish wave. XRP Triangle Formation Signals Bullish Continuation In an analysis on TradingView, crypto analyst TradingShot pointed out that the XRP price is seeing another triangle formation. This formation comes from the culmination of a number of indicators, all of which have become bullish during this time. Related Reading: Analysts Battle Over Cardano’s Next Move: 12,000% Rally Or 50% Crash? The indicators pointed out by the crypto analyst include the price closing below its 1W MA50 and 1W MA200. While, at first glance, this could look bearish, it can be a bit signal that propels the price up as investors start to get back in at low prices. This is also made obvious by the 1W RSI dropping to 40.00, as historically, this indicator at this level has always presented a buying opportunity. Furthermore, the crypto analyst points out that the XRP price is currently testing the bottom with the higher lows trend line. All of these have come together to form a triangle structure that has not been seen since 2013-2017. This triangle structure is important given that the last time it appeared in 2013 and eventually broke out in 2017, the XRP price went on to rally to new all-time highs. Therefore, the appearance of this triangle structure this time around could signal the start of another bullish trend that pushes the altcoin’s price toward new all-time highs as well. How Far Can The Price Go? In the scenario where the XRP price does follow the 2013-2017 trend and a breakout occurs, the crypto analyst does see the price reaching a new all-time high. However, for this to happen and for the bullish trend to be confirmed, the price will have to break above the 1W MA200, as the analyst explains. Related Reading: Crypto Research Firm Says Bitcoin Crash Below $60,000 May Not Be The End, Here’s Why In such a case that the altcoin does break this important level, TradingShot puts the price as high as $4.5. Such a move would mean an over 800% increase in value from where the XRP price is currently sitting at $0.47. However, as with any bullish scenario, there is also the possibility that the trend fails to actualize. In the event that the price does not break the 1W MA200, the crypto analyst advises “that the XRP army will need a need narrative to hang on to, as the long-term pattern would have failed them.” Featured image created with Dall.E, chart from Tradingview.com
In a surprising turn, former President Donald Trump has positioned himself as a strong advocate for cryptocurrencies, pledging to champion financial innovation and deregulation in the industry. As the 2024 election approaches, Trump’s pro-crypto stance has gained significant attention, reflected in the betting odds on prediction markets like Polymarket, where he is currently favored to […]
The native token of the Ethereum layer-2 Blast has rallied following an airdrop in which 17% of the supply was sent to eligible users.
Ethereum price struggled to recover above the $3,420 resistance zone. ETH is consolidating and might decline again if there is a move below $3,320. Ethereum is struggling to gain pace for a move above the $3,420 zone. The price is trading below $3,400 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $3,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,400 and $3,425 resistance levels to continue higher. Ethereum Price Faces Hurdles Ethereum price started a decent recovery wave above the $3,320 level. ETH even cleared the $3,350 level but the bears were active near $3,420. A high was formed at $3,426 and the price corrected gains like Bitcoin. There was a move below the $3,380 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,230 swing low to the $3,426 high. The bulls are now trying to protect more downsides below the $3,320 level. Ethereum is still trading below $3,400 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the trend line and $3,400. There is also a connecting bearish trend line forming with resistance near $3,400 on the hourly chart of ETH/USD. The first major resistance is near the $3,420 level. The main resistance is near the $3,450 level. A close above the $3,450 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher. The next hurdle sits at $3,680, above which the price might gain traction and rise toward the $3,720 level. Any more gains could send Ether toward the $3,880 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near $3,350. The first major support sits near the $3,320 zone and the 50% Fib retracement level of the upward move from the $3,230 swing low to the $3,426 high. A clear move below the $3,320 support might push the price toward $3,250. Any more losses might send the price toward the $3,200 level in the near term. 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 above the 50 zone. Major Support Level – $3,320 Major Resistance Level – $3,400
Australian broadcaster 7News’ YouTube channel livestreamed a crypto-touting deep fake Elon Musk, which garnered hundreds of thousands of views.
The post Bitcoin Inflows Paint Rosy Picture Amid Price Targets Of $56,000 and $58,000 appeared first on Coinpedia Fintech News
Is Bitcoin bottoming out after the latest dump, or is the price going to continue its short-term bearish trend as this signal indicates? Analyst Josh of Crypto World examined various BTC charts and said that there hasn’t been much change in the last day. Examining the daily Bitcoin chart, he said that the price is …
Bitcoin price failed to recover above the $62,500 resistance zone. BTC is showing bearish signs and might decline again below the $60,000 support. Bitcoin struggled to recover above the $62,200 and $62,500 levels. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline unless there is a close above the $62,000 resistance zone. Bitcoin Price Remains At Risk Bitcoin price started a recovery wave above the $61,200 zone. BTC even attempted a move above the $62,000 resistance zone. However, the bears were active near the $62,500 zone. A high was formed at $62,454 and the price is now moving lower. There was a move below the $61,500 level. The price declined below the 23.6% Fib retracement level of the upward move from the $58,448 swing low to the $62,454 high. Bitcoin price is trading below $62,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair. The price is now stable above the 50% Fib retracement level of the upward move from the $58,448 swing low to the $62,454 high. If there is another increase, the price could face resistance near the $61,500 level. The first key resistance is near the $61,850 level and the trend line. The next key resistance could be $62,000. A clear move above the $62,000 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $62,500 resistance. Any more gains might send BTC toward the $63,500 resistance in the near term. More Losses In BTC? If Bitcoin fails to climb above the $62,000 resistance zone, it could start another decline. Immediate support on the downside is near the $60,450 level. The first major support is $60,000. The next support is now forming near $59,500. Any more losses might send the price toward the $58,500 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 – $60,500, followed by $60,000. Major Resistance Levels – $62,000, and $62,500.
A Shiba Inu (SHIB) recovery is on the horizon, as recent on-chain data shows that the meme coin’s investors may have cooled off on offloading their tokens. This has reflected positively on Shiba Inu’s price, which is up in the last 24 hours. Shiba Inu’s Net Flows To Exchanges On The Decline Data from the […]
The United States government has recently announced a substantial reward of up to $5 million for any information leading to the arrest of Ruja Ignatova, the founder of OneCoin. This development comes as part of a joint investigation conducted by Bulgarian and American authorities into a large-scale financial fraud and money laundering scheme. One Of The FBI’s Most Wanted Bulgaria’s temporary chief prosecutor, Borislav Sarafov, highlighted the collaborative efforts between Bulgarian and US law enforcement agencies in tackling the case. Sarafov emphasized the ongoing investigations in both countries against Ignatova, who is facing charges related to the notorious OneCoin financial pyramid scheme. Furthermore, Sarafov revealed plans to initiate legal proceedings in Bulgaria, aiming to charge Ignatova in absentia and facilitate the seizure of assets acquired through illicit means. Related Reading: Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase US Ambassador Kenneth Merten underscored the gravity of the charges against Ignatova, labeling the OneCoin scheme as one of the largest frauds in history. Victims of this scheme have allegedly been defrauded of over $4 billion. Plamen Tonchev, the head of Bulgaria’s State Agency “National Security” (SANS), shed light on Ignatova’s role in the OneCoin scheme, describing it as a “fraudulent financial operation” closely resembling a pyramid scheme. The Rise And Fall Of OneCoin The story of OneCoin dates back to 2014, when Ruja Ignatova founded the company, claiming that it functioned just like any other cryptocurrency. However, it was revealed that there was no authentic OneCoin blockchain model or payment system. As questions and investigations started to arise in multiple countries, with some labeling it a pyramid scheme, the credibility of OneCoin began to crumble. The Norwegian Direct Selling Association was among the first to denounce the fraud as a pyramid scheme in March 2016, followed by a warning from the Hungarian Central Bank in May of the same year. Related Reading: Bitcoin Selloff: German Gov’t Offloads Another $67 Million As Price Wobbles In 2017, OneCoin falsely claimed to be the first company licensed by the Vietnamese government for use as a digital currency, a claim that Vietnam promptly refuted. The following year, the Bulgarian police raided OneCoin’s office, resulting in Ignatova’s disappearance when an arrest warrant was issued. Ignatova’s brother, Konstantin Ignatov, subsequently assumed company leadership, while co-founder Sebastian Greenwood was arrested in 2018. Konstantin himself was apprehended in November 2019 and later pleaded guilty to fraud and money laundering charges. Ignatova, a fugitive since evading arrest by fleeing from Sofia to Athens in 2017, was added to the FBI’s 10 Most Wanted Fugitives list in 2022. Featured image from DALL-E, chart from TradingView.com
North Carolina Governor Roy Cooper will now either sign or veto the law that bars the state’s government from accepting a Federal Reserve CBDC, potentially joining Louisiana.
Nearly all UMA voters said that the son of Donald Trump was not involved in the creation of the DJT token
In a recent surge of online discussion, renowned crypto analyst and entrepreneur Willy Woo has made headlines with his optimistic prediction for Bitcoin’s future on Elon Musk’s social media platform, X. Woo suggests that Bitcoin, already gaining traction among traditional financial circles as an emerging asset class, could see exponential growth. He argued that if Bitcoin continues to be perceived at the scale of major asset classes, traditionally valued in the tens of trillions of dollars, it could potentially increase in value tenfold in the coming years. Related Reading: Bitcoin’s Correction Is Not Done: $54K Could Be On The Horizon, Says Top Analyst Current Market Dynamics and Predictions Woo’s insight comes at a critical time for Bitcoin, which currently faces fluctuating market conditions. Despite the downturn, he projects that Bitcoin could rival the US dollar and emerge as a global reserve asset by the 2030s, aligning with a projected 25-40% global adoption rate. His stance is rooted in the growing recognition of Bitcoin on Wall Street, highlighting a significant shift in how traditional financial markets are beginning to view digital currencies. Everyone asking “when?” I’d say when we into the range of 25-40% world adoption. I.e. 2030s pic.twitter.com/Sdsw5PNrZM — Willy Woo (@woonomic) June 25, 2024 Despite Woo’s long-term optimism, Bitcoin’s immediate trajectory remains challenged, with recent data indicating a decline. Over the past week, Bitcoin has seen a reduction of 5.3% in value, with a slight 0.1% drop in the last 24 hours, stabilizing at a market price of $61,486. Keith Alan, Co-founder of TeamBlacknox, remains cautiously optimistic, noting that while Bitcoin could retest its lows, the broader trend could remain “intact” if monthly closures stay between $56.5k and $61.8k. Gauging Bitcoin Potential Rebound and Future Growth Adding to the discourse, CryptoQuant analyst Gustavo Faria highlighted signs that Bitcoin might have reached a local bottom. The analysis pointed out a reduction in open interest in the futures market and a drop in funding rates for perpetual contracts, suggesting a balance restoration between buyers and sellers. This equilibrium is crucial for maintaining a healthy market structure without excessive optimism that typically leads to sharp corrections. Signs of a Local Bottom? After a 15% correction, #Bitcoin shows potential signs of a local bottom. Open interest has declined, funding rates are near zero, suggesting a more balanced market. Crucial U.S. economic data incoming. Is the tide turning? – By Gustavo Faria Full post… pic.twitter.com/nRCDVawmFa — CryptoQuant.com (@cryptoquant_com) June 26, 2024 The ongoing discussion around Bitcoin’s future also considers broader economic indicators such as upcoming US macroeconomic data, including GDP, initial jobless claims, and inflation data. These factors are poised to influence market sentiment significantly in the near term. Furthermore, Bitcoin’s positioning on the Bitcoin Rainbow Chart, which currently indicates a “Buy” zone, and historical price cycles following Halving events suggest further potential for growth. Related Reading: True Correction Underway? Over $500 Million Exits Bitcoin ETFs — Coinshares Analysts anticipate that these technological and market cycles could propel Bitcoin’s price to as high as $260,000 by around September-October 2025. Featured image created with DALL-E, Chart from TradingView
Hong Kong is positioning itself as a leader in the global fintech landscape by focusing on crypto-related sectors such as decentralized finance (DeFi) and the Metaverse. Recent government-backed studies conducted by the Hong Kong Institute for Monetary and Financial Research (HKIMR), part of the Hong Kong Academy of Finance (AoF), have underscored the importance of […]
Marathon is looking to “capitalize on higher margins” possible with Kaspa mining — but one executive stressed the firm is in no way “pivoting” from its main focus, Bitcoin.