The post Who is Selling Bitcoin? BTC Price Decline Dumps Below $65K appeared first on Coinpedia Fintech News
As the crypto market faces a downturn, George from CryptosRUs discusses several key factors affecting Bitcoin’s current market dynamics in his latest YouTube video. Bitcoin has recently slipped below $65,000. It hit an intraday low of $64,544 after reaching a peak of $66,436. This decline is due to several factors, including significant sell-offs by whales …
Australian authorities sentenced a man who had used other people’s identities to open accounts on crypto exchanges.
Amid the drama related to the ‘whitehat‘ Certik hack. Kraken is continuing its partnership with popular YouTuber KitBoga to combat crypto scammers. This collaboration, which has been ongoing for over a year, aims to leverage KitBoga’s unique approach of engaging with and exposing scammers to gather critical information that can be used by authorities to […]
The post Kraken continues to prank crypto scammers with KitBoga to expose crime as Certik returns funds appeared first on CryptoSlate.
Binance executive Tigran Gambaryan’s wife expressed her confusion about why the Nigerian law enforcement agency cannot release her husband based on the Federal Inland Revenue Service rebuttal.
In a recent commentary shared on X, Matt Hougan, Chief Investment Officer at Bitwise Asset Management, which ranks as the world’s largest provider of cryptocurrency index funds, detailed why investors should consider diversifying their cryptocurrency portfolio by adding Ethereum (ETH), alongside maintaining a position in Bitcoin (BTC). Hougan offered three compelling reasons for investors to embrace ETH, while also presenting a critical viewpoint for remaining invested solely in BTC. Ethereum Vs. Bitcoin: 3 Reasons Pro-Ethereum Hougan began by emphasizing the importance of diversification within crypto investments. Drawing an analogy to the early days of the internet, he pointed out how difficult it is to predict which technologies or companies will dominate over the long term. “It is very hard to predict the future with precision,” Hougan remarked, referring to investors who bet on early internet companies like AOL and Pets.com, which failed to maintain their initial promise despite the internet’s overall growth. Related Reading: Ethereum At A Crossroads: Big Move Coming After Consolidation Phase? Applying this lesson to crypto, Hougan advised a diversified approach to hedge against similar uncertainties. Ethereum’s current market capitalization stands at approximately $420 billion, which is substantial but still only about one-third that of Bitcoin’s $1.3 trillion market cap. Given these figures, Hougan proposed a default starting allocation of 75% Bitcoin and 25% Ethereum for investors seeking broad market exposure. Hougan’s second point delved into the functional differences between Bitcoin and Ethereum. He described Bitcoin as primarily “a new form of money,” highlighting its design choices aimed at enhancing its utility as a robust monetary system. “Every design choice the Bitcoin ecosystem makes is designed to make Bitcoin the best form of money that has ever existed,” he stated, underscoring Bitcoin’s targeted development toward optimizing its use as a currency. Conversely, Ethereum is characterized by its role as a foundational technology for building new applications that leverage its capability for programmable money. This includes everything from issuing stablecoins to enabling complex decentralized finance (DeFi) ecosystems. “Ethereum’s primary function is making money programmable,” Hougan explained. He argued that the ongoing development within the Ethereum ecosystem provides a broader exposure to the potential applications of blockchain technology, which is still in its nascent stages. Related Reading: Double-Whammy For Ethereum: Price Collapses, Exchange Supply Dries Up The third argument for Ethereum centered on historical performance data. Hougan pointed out that historically, portfolios that included Ethereum along with Bitcoin showed better performance metrics, both in absolute terms and when adjusted for risk, across full crypto market cycles. “My favorite thing about that table is that the +ETH portfolio has both higher returns and a lower maximum drawdown,” he highlighted. This historical analysis suggests that Ethereum could offer better downside protection and higher potential returns, though Hougan cautioned that “past performance is no guarantee of future returns” and noted that in shorter, recent periods, a Bitcoin-only strategy would have outperformed. Counterpoint: Why a Bitcoin-Only Strategy May Be Preferable Addressing the other side of the coin, Hougan discussed why many investors might prefer a Bitcoin-only strategy. This perspective is especially relevant for those concerned with macroeconomic issues like the degradation of fiat currencies and inflation. Hougan posited that Bitcoin’s dominant position and its community’s focus on becoming a new form of money make it likely to continue leading this space. “It has a large lead, and size matters in money,” he stated, supporting the idea that Bitcoin’s simplicity and focused use-case as digital gold could be more appealing for certain strategic investments. “Money is a massive market. There’s plenty of space for BTC to run if it succeeds. […] My view, in a word: If you want to make a broad bet on crypto and public blockchains, you should own multiple crypto assets. If you want to make a specific bet on a new form of digital money, buy Bitcoin,” Hougan concluded. At press time, ETH traded at $3,514.06. Featured image created with DALL·E, chart from TradingView.com
Quick Take Farside data shows that on June 20, Bitcoin (BTC) exchange-traded funds (ETFs) experienced a net outflow of $139.9 million, marking the fifth consecutive day of outflows and the seventh outflow in eight trading days. Among the ETF issuers, BlackRock’s IBIT stood out as the only fund to record an inflow, albeit a modest […]
The post Fifth consecutive trading day of Bitcoin ETF outflows totals $139.9 million appeared first on CryptoSlate.
Thursday marked the fifth straight day of net outflows for the U.S.-listed ETFs in their worst performance since mid April.
The post Bitcoin Spot ETFs Experience $140M Outflow Amid Five-Day Decline appeared first on Coinpedia Fintech News
On June 20, Bitcoin spot ETFs faced a $140 million outflow, marking their fifth consecutive day of losses. Grayscale’s GBTC saw a $53.1 million decline in a single day. Conversely, BlackRock’s IBIT ETF gained $1.48 million, with total inflows reaching $14.67 billion. This disparity highlights investors’ varied strategies and market volatility. The ongoing outflows suggest …
The post Altcoin On A Move! ImmutableX (IMX) And LimeWire (LMWR) Hint 20% Uptrend? appeared first on Coinpedia Fintech News
The cryptocurrency market continues to record a negative price action over the past few days with the elite cryptocurrencies such as Bitcoin and Ethereum tokens recording significant correction in their respective portfolios. However, on the other hand, altcoins have recorded a rising bullish sentiment with mid-cap and low-cap tokens recording the highest gains. Tokens such …
The post BOME and Meme Coin Offer Reversal Entry With Breakout Chances appeared first on Coinpedia Fintech News
As the broader market conditions are as volatile as ever, the bullish trend in the meme coins is taking a hit. However, low-cap meme coins like BOME and MEME display a possibility for a turnaround from crucial support. With the turnaround momentum and breakout chances, will these low-cap meme coins lead to a bull run …
LayerZero’s “not an airdrop” ZRO token airdrop has spurred a new peak for Arbitrum’s daily revenue.
Santiment's Bitcoin social sentiment indicator has been flashing red as the price of Bitcoin has been hovering around the $65,000 mark.
Bitcoin hit a low of $64,300 on Thursday following extended outflows from US spot Bitcoin ETFs, bleeding almost $140 million.
The post Bitcoin falls close to $64,000 as ETFs bleed $140 million appeared first on Crypto Briefing.
The post Fantom Begins Bull Cycle in a Wedge, FTM Price Eyes 27% Jump appeared first on Coinpedia Fintech News
With the meme coin rally taking it easy, the broader market finds altcoins from different segments taking centre stage. Apart from the AI tokens, the FTM price jump reveals a new interest in the DeFi tokens. With a bullish reversal, the sideline traders anticipate a trend reversal in the DeFi token. Will this resurgence of …
The AI chatbot, Store Companion, will be used on handheld devices, providing staff members with immediate answers to any work-related questions they may have.
On Thursday, 3iQ Digital Asset Management announced the filing of a preliminary prospectus for The Solana Fund (QSOL) with securities regulatory authorities across Canada, excluding Quebec. If approved, QSOL will become the first Solana (SOL) exchange-traded product (ETP) listed in North America, trading on the Toronto Stock Exchange (TSX) under the ticker “QSOL”. First Solana […]
The post CertiK Returns $3 Million to Kraken After Public Dispute appeared first on Coinpedia Fintech News
Blockchain security company CertiK has now refunded Kraken $3m in disputed funds after a bitter public disagreement regarding ethical hacking for bug bounties. The scandal started when CertiK hacked Kraken’s system and drained nearly $3 million in cryptocurrencies from Kraken’s treasury. As for CertiK, it initially stated they were white hat hackers and reported the …
The post Kraken Vs Sec Lawsuits: Judge Hints Denial of Kraken’s Motion to Dismiss the Case appeared first on Coinpedia Fintech News
The ongoing legal battle between Kraken and the U.S. Securities and Exchange Commission (SEC) took a dramatic turn during a recent court hearing on Kraken’s motion to dismiss the lawsuit. The judge hinted that Kraken’s request to dismiss the case might not happen. Here’s what happened in the court ruling. Judge Hints at Denial of …
The post Analyst Advises To Stay Away From Stacking Stagnant Altcoins Like XRP and ADA appeared first on Coinpedia Fintech News
While many altcoins currently lack clear signs of impending explosive growth, analysts have brought to attention several that are poised to lead the bull run. However, have you considered which altcoins to avoid? Jason Pizzino recently pointed out that Ripple’s XRP and Cardano’s ADA have shown lackluster chart performance. He contrasted their stagnant journey with …
The post Tron Network’s “USDT” Surpasses Visa’s Average Daily Trading Volume! appeared first on Coinpedia Fintech News
USDT is the official stablecoin and was issued by Tether on the Tron Network. As per the latest reports, the 24-hour trading volume of USDT is $53.031 Billion, exceeding Visa’s daily trading volume. Reportedly, during the Q1 of 2024, Visa’s trading volume totaled $3.7 Trillion with an average trading volume of $42 Billion. Tether USD …
Dogecoin started another decline from the $0.1285 resistance zone against the US Dollar. DOGE is consolidating and might resume its decline below $0.1220. DOGE price is moving lower below the $0.1250 support zone. The price is trading below the $0.1250 level and the 100-hourly simple moving average. There is a key rising channel or a bearish flag pattern forming with support near $0.1220 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1260 and $0.1285 to gain bullish momentum and start a fresh increase. Dogecoin Price Dips Again After a decent recovery wave, Dogecoin price faced resistance near the $0.1285 zone. DOGE failed to continue higher and started a fresh decline from the $0.1285 high like Bitcoin and Ethereum. There was a move below the $0.1250 support level and the 100-hourly simple moving average. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.1129 swing low to the $0.1285 high. However, the bulls are now active near the $0.1220 zone. Dogecoin is now trading below the $0.1250 level and the 100-hourly simple moving average. There is also a key rising channel or a bearish flag pattern forming with support near $0.1220 on the hourly chart of the DOGE/USD pair. If there is a fresh increase, the price might face resistance near the $0.1260 level. The next major resistance is near the $0.1285 level. A close above the $0.1285 resistance might send the price toward the $0.1350 resistance. Any more gains might send the price toward the $0.1420 level. The next major stop for the bulls might be $0.150. More Losses In DOGE? If DOGE’s price fails to gain pace above the $0.1285 level, it could continue to move down. Initial support on the downside is near the $0.1220 level. The next major support is near the $0.1185 level. If there is a downside break below the $0.1185 support, the price could decline further. In the stated case, the price might decline toward the $0.1120 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 – $0.1220, $0.1185 and $0.1120. Major Resistance Levels – $0.1260, $0.1285, and $0.1320.
The post Bitcoin Slips Below $65,000: Here is Only When the BTC Price May Recover! appeared first on Coinpedia Fintech News
The markets are heading towards the end of the first half of the year and hence, significant volatility is expected. With the latest price action, the bears have demonstrated huge dominance as the Bitcoin price slipped below the major support. On the other hand, the traders and institutions do not appear to be optimistic, while …
Bitcoin keeps catching the attention of investors and analysts with its price changes and big moves. Recently trading at $65,715, Bitcoin’s small increase of nearly a percent in the last 24 hours has sparked some cautious optimism among crypto fans around the world. This newfound confidence is boosted by big whale activity and positive long-term predictions from top analysts. Related Reading: 87% Of Bitcoin Hodlers Laughing All The Way To The Bank – Here’s Why Big Investor Buys $395M Worth of Bitcoin A well-known crypto whale has made headlines by buying 6,070 BTC, worth about $395 million. This is the whale’s first big purchase in over 18 months. Known for smart trading moves, this investor previously bought 41,000 BTC during the 2022 market dip at an average price of $19,000 per BTC. In a brilliant move, the whale sold 37,000 BTC during the market upswing in 2023 and 2024 at an average price of $46,800, making a huge $1.74 billion in proceeds and over $1 billion in profit. This latest purchase shows the whale’s renewed faith in Bitcoin’s future, hinting at big price movements ahead. Analysts Predict Bitcoin Could Reach $100,000 Top crypto analysts are very optimistic about Bitcoin’s future, with some predicting it could hit $100,000. Ali Martinez, a respected crypto expert, points out that over 70% of all open Bitcoin positions on Binance are bullish. 70.27% of all accounts in @binance with an open #Bitcoin position are going long! pic.twitter.com/PiGZp0rP58 — Ali (@ali_charts) June 19, 2024 Another analyst, who goes by the name Jelle, notes that Bitcoin has recently hit important support levels, like the 100-day Exponential Moving Average (EMA) and the lower edge of an ascending triangle pattern. Jelle believes a bounce from these levels could push Bitcoin to $72,000 soon, paving the way for a potential rise to $100,000 in the long run. These predictions are in line with a broader optimistic view, as many believe Bitcoin’s current price is a good buying opportunity. More Bullish Signs On The Horizon Bitcoin’s recent price movement isn’t just drawing in individual investors. More big institutional investors are showing interest, which shows growing confidence in Bitcoin’s value. Large investments from well-known figures and companies signal wider acceptance and integration of Bitcoin into mainstream finance. Related Reading: Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? Meanwhile, Bitcoin price prediction for July is bullish, indicating a potential 30% rise to over $85,000, according to crypto price tracker CoinCodex. This is despite current technical indicators leaning bearish. This suggests a potential disconnect between market sentiment and price action. The Fear & Greed Index at 60 (Greed) further highlights this dissonance. While the price has seen nearly half bullish days (47%) over the past month with relatively low volatility (2.29%), underlying technicals may be pointing to a different story. It will be interesting to see if the predicted price increase comes to fruition or if the bearish undercurrents prevail. Investors are closely watching Bitcoin’s price movements, looking for opportunities that could signal new highs. Although the path to $100,000 is full of uncertainty, the strategic insights from market veterans and increasing institutional interest provide a solid foundation for Bitcoin’s long-term potential. Featured image from Pexels, chart from TradingView
The post Solana ETF Coming Soon? 3iQ Files for Solana ETP on the Toronto Stock Exchange appeared first on Coinpedia Fintech News
The market is buzzing with news of ETF one of the hot topics for all crypto fans globally. After months of speculation, Solana ETF work is going on. Digital asset manager 3iQ has filed for a Solana (SOL) exchange-traded product (ETP) listing on Canada’s Toronto Stock Exchange (TSE), marking a potential first for North America. …
The post Everything Looks Well for Ethereum, Solana and Binance Coin; Altcoin Rally Soon? appeared first on Coinpedia Fintech News
Jason Pizzino recently explained in detail that the market is in a stealth zone, showing signs of a significant low. During these stealth periods, he said that fear increases, and market interest drops, leading to smaller range bars after initial scares. Despite possible future scares, key levels like the 50% mark are holding, with lows …
After its June 20 launch, ZRO surged 15.15% within just 20 minutes before sharply tumbling 22% as people debated whether the donation mechanism was genius or just an excuse for a “tax.”
The post Ripple Wins Big in Class Action Suit, But XRP Security Decision Still Pending appeared first on Coinpedia Fintech News
The war between Ripple and the SEC just got hotter! In a recent development, the U.S. District Court for the Northern District of California dismissed several major claims in a class action lawsuit against Ripple, providing a procedural victory for the company. Judge Phyllis Hamilton granted Ripple’s motion for summary judgment on federal class claims …
XRP price struggled to surpass the $0.500 resistance zone. The price is moving lower and showing bearish signs for a move below the $0.4850 support. XRP price faced another rejection near the $0.50 resistance zone. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend losses if there is a close below the $0.4850 support zone. XRP Price Dips Again XRP price attempted a fresh increase above the $0.4950 resistance zone. It even spiked above the $0.50 resistance but there was no real bullish momentum. A high was formed at $0.5019 and the price started a fresh decline like Bitcoin. There was a move below the $0.4980 and $0.4950 levels. There was a break below a short-term rising channel with support at $0.4920 on the hourly chart of the XRP/USD pair. The pair even traded below the 50% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. The bulls seem to be active near the $0.4850 support and the 61.8% Fib retracement level of the upward move from the $0.4765 swing low to the $0.5019 high. If there is a fresh increase, the price might face hurdles near the $0.4950 level. The first major resistance is near the $0.50 and $0.5020 levels. A clear move above the $0.5020 resistance might send the price toward the $0.5150 resistance. The next major resistance is near the $0.5250 level. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. Any more gains might send the price toward the $0.550 resistance. More Losses? If XRP fails to clear the $0.50 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4850 level. The next major support is at $0.4765. If there is a downside break and a close below the $0.4765 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.4540 low 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 – $0.4850 and $0.4765. Major Resistance Levels – $0.5020 and $0.5150.
Judge Phyllis Hamilton found XRP could be a security when sold to retail and gave the go-ahead to a class-action lawsuit over statements from Ripple CEO Brad Garlinghouse.
A recent Bloomberg report has revealed that Montenegro’s Prime Minister, Milojko Spajic, personally invested in Terraform Labs years before the company’s collapse. The discovery has raised concerns regarding the founder’s choice to flee prosecution by seeking refuge in the same nation. The founder of Terraform Labs, Do Kwon, was detained in Montenegro in March 2023 and is currently facing extradition demands from the US and South Korea. Opposition Calls For Resignation According to Bloomberg, Milojko Spajic has claimed that the investment was made by Singapore-based company Das Capital SG, in which he was a partner. However, the independent Montenegrin newspaper Vijesti, which broke the news, reported that the holdings grew to nearly $90 million at one point. Spajic’s LinkedIn profile shows that he worked as a credit analyst and investor in Singapore from 2014 to 2020 before returning to Montenegro to serve as finance minister in late 2020. Related Reading: MicroStrategy Buys Additional 11,930 BTC, Fibonacci Analysis Hints At $160K Bitcoin Price Peak The revelations surrounding the prime minister’s investment have emerged at a critical time for Montenegro, where Spajic has led a “fragile” ruling coalition since October. As a NATO member and European Union candidate country, the controversy surrounding the prime minister’s involvement in a collapsed crypto firm has increased pressure from the opposition, who now demand Spajic’s resignation. Terraform Labs Lawsuit Exposes Prime Minister’s Investment The prime minister’s investment details came to light in a lawsuit filed by the US Securities and Exchange Commission against Terraform Labs and Do Kwon. Kwon, the founder of the crypto firm, is facing prosecution linked to the $40 billion collapse of the TerraUSD stablecoin in 2022. In April, a civil trial in New York found the bankrupt company and Kwon personally liable for fraud, resulting in Terraform agreeing to pay $4.5 billion to settle the case with the SEC. Related Reading: Cardano And XRP Shorting Activity Could Act As ‘Rocket Fuel’ For A Rally; Santiment In light of these developments, Terraform CEO Chris Armani recently announced the complete dissolution of the company’s operations via a social media post on X (formerly Twitter). While expressing disappointment in the lawsuit’s outcome, Armani confirmed that TFL would cease operations and transfer ownership of the chain to the community. On the other hand, Kwon has already served his local sentence in Montenegro after being detained using a fake passport. The justice minister of Montenegro favors sending Kwon to the US, while the courts support his extradition to South Korea. With multiple rulings, Kwon’s fate now lies in the hands of the High Court. At the time of writing, the protocol’s native token, Luna Classic (LUNC), is trading at $0.000091, with sharp price declines of over 6% and 22% over the past seven and fourteen days, respectively. Featured image from DALL-E, chart from TradingView.com