In a forceful rebuttal to widespread media speculation about the viability of Cardano, founder Charles Hoskinson has provided a detailed rundown of forthcoming developments and initiatives which he believes underscore the cryptocurrency’s robust health and its promising future. Cardano Founder Slams Crypto Media In a statement via X, Hoskinson expressed his frustration with the current […]
Bitcoin’s OI jumped $2.02 billion over three days, sparking concerns among traders about a potential “whipsaw” event.
The Fifth Circuit found that the regulator overstepped its authority in its new rules affecting hedge funds. Could this ruling be a good sign for crypto?
Avalanche (AVAX), the token powering the smart contracts platform Avalanche, is stirring excitement in the crypto sphere. Bullish technical indicators and upcoming developments within the Avalanche ecosystem are fueling speculation of a significant price surge, with some analysts eyeing a potential rally above $100. Related Reading: Altcoin Alert: Notcoin (NOT) Poised For 5x Growth, Analyst Says Technicals Flash Green: A Bounce In Sight? Technical analysis based on historical data and chart patterns paints a promising picture for AVAX. Analysts point to a recent corrective phase that the token appears to have overcome, potentially setting the stage for a new uptrend. Charts on trading platforms like Binance depict a support zone between $9.45 and $10.00, suggesting a strong base from which the price could bounce higher. $AVAX looking for 100+ pic.twitter.com/GUXx2EeB5e — ᴀʟᴛꜱᴛʀᴇᴇᴛ ʙᴇᴛꜱ (@AltstreetBet) June 5, 2024 Avalanche ICO Season On The Horizon? Beyond technical indicators, the buzz surrounding Avalanche stems from exciting developments brewing within its ecosystem. The project’s developers are gearing up to launch Layer 1 blockchains (L1s) that inherit Avalanche’s secure and scalable consensus mechanism. This innovation could significantly simplify the process of launching new blockchains, similar to how ERC-20 tokens are built on top of the Ethereum network. Furthermore, Avalanche’s CEO, Emin Gun Sirer, recently teased a novel concept – Initial Chain Offerings (ICOs). Unlike the traditional Initial Coin Offering (ICO) model where individual tokens are sold, ICOs would involve offering entirely new blockchains to investors. This paves the way for a potential “Avalanche ICO season,” mirroring the ICO boom witnessed in the early days of cryptocurrencies. Market observers believe this could attract a surge of interest and investment into the Avalanche ecosystem, potentially boosting the price of AVAX. Key Resistance Levels To Watch Moving on to the price targets, analysts have identified key resistance levels at $50 and $60. Overcoming these hurdles could propel AVAX towards its ambitious long-term target of $100. However, the confluence of bullish technical indicators and groundbreaking developments within the Avalanche ecosystem is undeniable. Related Reading: Banks Bust, Bitcoin Booms: Price Skyrockets 40% During US Banking Crisis AVAX Price Forecast Meanwhile, according to the latest analysis, the price of AVAX is expected to surge by an impressive 227%, potentially reaching $119 by July 5, 2024. The current market sentiment, as indicated by technical indicators from CoinCodex, is Neutral. This is in sync with the Fear & Greed Index, which stands at 75, indicating a prevailing sentiment of Greed among investors. Over the past 30 days, Avalanche has experienced 11 green days, constituting 37% of the period, with a price volatility rate of 5.59%. These factors suggest a relatively stable yet bullish outlook for AVAX in the near term. The high Fear & Greed Index indicates strong buying interest, which could drive prices higher. Despite the neutral sentiment, the significant projected price increase reflects positive market dynamics and investor confidence in Avalanche. Featured image from LinkedIn, chart from TradingView
The Iggy Azalea-launched “MOTHER” is the only token launched by celebrities last week still hitting new all-time highs. It has now amassed a market cap of $130 million.
The post Top Altcoins Attracting Whales: Major Bullish Upswing Expected appeared first on Coinpedia Fintech News
The altcoin industry has gradually gained bullish momentum as Bitcoin’s (BTC) price struggled to pump beyond $72k in the past four months. Binance’s native coin, BNB, led the altcoin industry in bullish sentiment after it pumped towards a new all-time high (ATH) above $700. The renewed Bitcoin interest from institutional investors, depicted by the high …
The post BCH Price Aims 55% Upside With $500 Breakout In June appeared first on Coinpedia Fintech News
With the Bitcoin price sustaining above the $71,000 level, the close-linked Bitcoin Cash shoots overnight. As the BCH price trend siphons additional boost from the market recovery, the bulls are making a comeback. With an 8.67% jump this week, the buyers undermined last week’s downfall. As the bull run picks up pace, will the Bitcoin …
The saga of Ethereum ETFs in the US continues with a new twist: cautious optimism. After the US Securities and Exchange Commission’s unexpected green light for spot Ethereum ETFs in May, investors have been eagerly awaiting the launch date. But according to SEC Chair Gary Gensler, patience remains key. Related Reading: Germans In The Dark […]
The post Crypto Exchanges Face $9B Lawsuit Over Bitcoin SV Delisting appeared first on Coinpedia Fintech News
The Competition Appeal Tribunal is hearing a high-stakes legal challenge brought by BSV Claims Ltd against several major cryptocurrency exchanges, including Binance, Kraken, and ShapeShift. The 2019 delisting of Bitcoin SV (BSV) allegedly deprived Bitcoin SV investors of significant growth opportunities. BSV demands a staggering $9 billion in compensation for BSV holders. However, the defendants …
McDonald’s Singapore launches the ‘My Happy Place’ metaverse, letting locals build virtual burgers, play multiplayer games, and earn rewards.
On-chain data shows the Bitcoin whales now own over 40% of the entire BTC supply, as they have continued to accumulate more recently. Bitcoin Whales Have Been In Buying Mode Since Mid-March According to data from the market intelligence platform IntoTheBlock, the BTC whales have been increasing their supply since the middle of March. The […]
Dogecoin is moving higher above the $0.160 resistance zone against the US Dollar. DOGE is holding gains and might aim for a move above $0.1650. DOGE price is moving higher above the $0.160 resistance zone. The price is trading above the $0.160 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1650 to gain bullish momentum and continue higher. Dogecoin Price Holds Support In the past few sessions, Dogecoin price started a steady increase above the $0.1500 zone, like Bitcoin and Ethereum. DOGE bulls were able to push the price above the $0.160 resistance zone. The recent swing high was formed at $0.1646 before the price started a downside correction There was a drop below the $0.1620 support zone. The price spiked below the 23.6% Fib retracement level of the upward move from the $0.1571 swing low to the $0.1646 high. Dogecoin is now trading above the $0.160 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support near $0.160 on the hourly chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.1640 level. The next major resistance is near the $0.1650 level. A close above the $0.1650 resistance might send the price toward the $0.1720 resistance. Any more gains might send the price toward the $0.1750 level. The next major stop for the bulls might be $0.1800. Downside Correction In DOGE? If DOGE’s price fails to gain pace above the $0.1650 level, it could start another decline. Initial support on the downside is near the $0.160 level and the trend line. It is close to the 50% Fib retracement level of the upward move from the $0.1571 swing low to the $0.1646 high. The next major support is near the $0.1580 level. If there is a downside break below the $0.1580 support, the price could decline further. In the stated case, the price might decline toward the $0.1520 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1620, $0.1600 and $0.1580. Major Resistance Levels – $0.1640, $0.1650, and $0.1720.
XRP price is slowly moving higher above the $0.5200 zone. It is now facing hurdles near $0.5320 and might correct lower in the near term. XRP is attempting a fresh increase above the $0.5250 zone. The price is now trading above $0.5220 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $0.5260 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct lower toward the $0.5220 support before the bulls appear again. XRP Price Gains Traction XRP price remained well-supported above the $0.5120 zone and extended its increase like Bitcoin and Ethereum. The price was able to clear the $0.5200 and $0.5250 levels. There was a clear move above the $0.5300 resistance and the price tested the $0.5320 zone. A high was formed at $0.5325 and the price is now correcting gains. It traded below the 23.6% Fib retracement level of the upward move from the $0.5080 swing low to the $0.5325 high. There was also a break below a key bullish trend line with support at $0.5260 on the hourly chart of the XRP/USD pair. The pair is now trading above $0.5220 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5200 level. The first key resistance is near $0.5320. The next major resistance is near the $0.5350 level. A close above the $0.5350 resistance zone could send the price higher. The next key resistance is near $0.550. If there is a close above the $0.550 resistance level, there could be a steady increase toward the $0.5560 resistance. Any more gains might send the price toward the $0.5650 resistance. More Losses? If XRP fails to clear the $0.5350 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5260 level. The next major support is at $0.5200 or the 50% Fib retracement level of the upward move from the $0.5080 swing low to the $0.5325 high. If there is a downside break and a close below the $0.520 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.5120 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5260 and $0.5220. Major Resistance Levels – $0.5300 and $0.5320.
The trading volume across centralized cryptocurrency exchanges has notably declined, dropping to $5.27 trillion in May 2024. This decrease, roughly 20.1% from the previous month, marks a continued downtrend following the muted price activity of Bitcoin after its April Halving. Crypto Exchange Landscape And Institutional Interest According to CCData reports, this deceleration affects both spot […]
Part of the plea deal involved Juan Tacuri forfeiting nearly $4 million and real estate which were purchased with victim funds.
Ethereum price is slowly moving higher above the $3,800 resistance zone. ETH could gain bullish momentum if it clears the $3,880 and $3,920 resistance levels. Ethereum is holding gains above the $3,800 level. The price is trading above $3,840 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless there is a close below the $3,800 support. Ethereum Price Eyes More Upsides Ethereum price remained stable above the $3,760 support zone. ETH formed a base and started another increase above the $3,800 level like Bitcoin. There was a move above the $3,820 level and $3,840. The price tested the $3,880 resistance zone. A high was formed at $3,884 and the price is now consolidating gains in a range. It already tested the 23.6% Fib retracement level of the upward move from the $3,729 swing low to the $3,884 high. Ethereum is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $3,840 on the hourly chart of ETH/USD. If there is another increase, ETH might face resistance near the $3,880 level. The first major resistance is near the $3,920 level. An upside break above the $3,920 resistance might send the price higher. The next key resistance sits at $4,000, above which the price might gain traction and rise toward the $4,080 level. If the bulls push Ether above the $4,080 level, the price might rise and test the $4,200 resistance. Any more gains could send Ether toward the $4,320 resistance zone. Are Dips Supported In ETH? If Ethereum fails to clear the $3,880 resistance, it could start a downside correction. Initial support on the downside is near $3,840 and the trend line. The next major support is near the $3,800 zone and the 50% Fib retracement level of the upward move from the $3,729 swing low to the $3,884 high. A clear move below the $3,800 support might push the price toward $3,720. Any more losses might send the price toward the $3,650 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,800 Major Resistance Level – $3,880
The number of daily active users in Ethereum and top layer 2s has rocketed in recent years, and VanEck analysts say this growth will continue.
Bitcoin price started a decent increase above the $70,500 resistance. BTC is showing positive signs and might gain bullish momentum above the $72,000 resistance in the near term. Bitcoin extended its increase above the $70,000 and $70,500 resistance levels. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $70,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $72,000 level. Bitcoin Price Regains Strength Bitcoin price remained stable above the $69,500 zone its extended its increase. BTC was able to clear the $70,000 and $70,200 levels to move further into a positive zone. The bulls even pushed the price above $70,500. A high was formed at $71,682 and the price is now consolidating gains. The price is holding gains above the 23.6% Fib retracement level of the upward move from the $67,285 swing low to the $71,682 high. Bitcoin is now trading above $70,500 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $70,600 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $71,400 level. The first major resistance could be $71,650. The next key resistance could be $72,000. A clear move above the $72,000 resistance might send the price higher. In the stated case, the price could rise and test the $73,200 resistance. Any more gains might send BTC toward the $75,000 resistance. Are Dips Limited In BTC? If Bitcoin fails to climb above the $71,400 resistance zone, it could start another decline. Immediate support on the downside is near the $70,600 level and the trend line. The first major support is $70,000. The next support is now forming near $69,500 or the 50% Fib retracement level of the upward move from the $67,285 swing low to the $71,682 high. Any more losses might send the price toward the $68,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $70,600, followed by $70,000. Major Resistance Levels – $71,600, and $72,000.
The Tom Demark (TD) Sequential has given a sell signal for Bitcoin after the asset broke past the $71,000 level in the past day. Bitcoin TD Sequential Is Giving A Sell Signal Right Now As explained by analyst Ali Martinez in a new post on X, a TD Sequential signal has appeared in the 1-hour price of Bitcoin. The “TD Sequential” refers to an indicator in technical analysis (TA) that’s generally used for locating probable points of reversal in any commodity’s price. The TD Sequential involves two phases: setup and countdown. During the first of these, candles of the same polarity (that is, whether red or green) are counted to nine. After these nine candles are in, the asset may be assumed to have encountered a turnaround. Related Reading: Bitcoin Like A Spring Waiting To Uncoil, Analyst Explains Why Naturally, if the candles leading up to the setup’s completion were red, the TD Sequential would give a buy signal for the asset. On the other hand, green candles would imply a potential reversal towards the downside. After the setup is over, the countdown phase begins. This second phase of the indicator is much like the first one, except for the fact that the number of candles to be counted here is thirteen rather than nine. The countdown’s completion implies that the price has encountered another likely point of reversal. A TD Sequential phase of the former type has recently been completed in the 1-hour price of Bitcoin. Below is the chart shared by Ali that shows this pattern in cryptocurrency. From the graph, it’s visible that TD Sequential has recently finished its setup phase with green candles for Bitcoin. This signal comes as the coin has surged beyond the $71,000 level for the first time since mid-May. This TD setup would mean that the party could already be over for now as the coin may have reached a local top, and a reversal to the down direction could be coming. While the TD Sequential could spell a worry for BTC in the short-term, another TA indicator could point towards a bullish outcome for the asset instead. As CryptoQuant author Axel Adler Jr has pointed out in an X post, the Bitcoin Relative Strength Index (RSI) is at a level where recent uptrends have begun. The RSI tracks the magnitude of recent changes in the price of any given asset. As the chart shows, the 14-day RSI currently has a value of 56% for BTC. Related Reading: Bitcoin Not ‘Overvalued’ Yet, Says CryptoQuant CEO: Here’s Why Usually, the price is considered to be undervalued when this metric drops below 30%. Strangely, the last three major uptrends in BTC began when the RSI had a value of 56%. This could be a coincidence, but BTC could see a sharp surge soon if it’s truly a pattern. BTC Price Despite the appearance of the TD Sequential, Bitcoin hasn’t let off yet, as the asset has climbed beyond $71,600. Featured image from Dall-E, CryptoQuant.com, charts from TradingView.com
In a recent development, cryptocurrency exchange Binance has moved to dismiss the majority of a £10 billion ($12.8 billion) lawsuit filed in London, as reported by Reuters. The lawsuit, being heard at the Competition Appeal Tribunal (CAT), accuses Binance and other exchanges of conspiring to “delist” the Bitcoin Satoshi Vision (BSV) cryptocurrency. BSV Delisting Controversy […]
Long-term Bitcoin holders are now all in the green, thanks to BTC’s recent climb above November 2021’s all-time high.
Riot shares recovered from more than a 9% dip in the first hour of trading following a damning report from short seller Kerrisdale Capital.
In a notable announcement, Turkey’s Treasury and Finance Minister Mehmet Simsek has clarified that the government does not plan to impose taxes on profits derived from “stocks and cryptocurrencies.” This decision reflects a broader strategy to “foster” investment and growth in financial markets in the region without the burden of direct taxation on gains. Tax […]
Bitcoin’s price has risen roughly 2% in the past 24 hours, trending above $70,000, a psychological level. As bulls prepare for more gains, Willy Woo, an on-chain analyst, believes the coin could soar even higher after breaking above the all-important resistance level at $72,000. Will Bitcoin Soar To $75,000 Due To A Short Squeeze? Even after the spike on May 20 lifted the coin above $66,000 after days of lower lows, taking Bitcoin to $56,500, bulls didn’t follow through. As things stand now, Bitcoin is within a broader range, capped at $72,000, the first local support, and $73,800, the all-time high. Related Reading: Bitcoin Volatility Reaches Historic Low: Calm Before A 500% Bullish Storm? However, a breach would be significant considering the significance of $72,000, a level that has only been retested but not broken in several weeks. One explanation for potential price expansion is that a breakout, ideally with rising volume, might signal the start of another leg up, drawing demand. For Woo, closing $72,000 could see prices fast expand, even breaking $75,000 because of a short squeeze. Once bulls pierce and close above this level of interest, there would be a wave of liquidations, where many short positions are forced to close, driving prices higher. Based on Woo’s analysis, roughly $1.5 billion worth of short positions will be liquidated “all the way up to $75,000.” If this happens, then it is highly likely that Bitcoin will register new all-time highs roughly seven weeks after Halving. Inflow To Spot BTC ETFs Rising, Demand Will Only Continue Rising Underpinning this bullish sentiment is the impressive surge in institutional inflows into spot Bitcoin exchange-traded funds (ETFs) on June 4. According to sosovalue data, spot Bitcoin ETF issuers bought $886.6 million worth of BTC yesterday. Fidelity bought $378.7 million of BTC, while BlackRock, behind the largest spot BTC ETF, bought $274.4 million of the coin. Bitwise also made a substantial demand, adding $61 million of BTC. Interestingly, Grayscale also saw inflows, adding $28.2 million of BTC on behalf of its clients. This influx was the second-highest daily inflow volume since the launch of spot Bitcoin ETFs in January 2024. Related Reading: Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB? With this wave of institutional demand, Bitcoin is above $71,500. Most importantly, prices remain above $70,000, confirming the bull spike from the middle BB on June 3. The demand for these complex derivatives will only increase. Yesterday, the Thailand Securities and Exchange Commission (SEC) approved the country’s first spot Bitcoin ETF. The product will only be accessible to wealthy and institutional investors. The green lighting comes after a similar product went live in Australia. Feature image from DALLE, chart from TradingView
Fireblocks executive Shahar Madar discusses the security challenges in the rapidly growing Bitcoin DeFi sector and the solutions being implemented.
The post Bitcoin DeFi security concerns still lurk, says Fireblocks executive appeared first on Crypto Briefing.
Kerrisdale Capital sent a complaint about crypto miner Riot Platforms to Texas officials over concerns related to safety hazards and equipment imported from China The company made the complaint in a on June 5 letter addressed to Navarro County Texas Judge H.M. Davenport Jr. and four commissioners. Kerrisdale cited a former operations specialist at Riot’s […]
The post Kerrisdale Capital shorts Riot stock amid complaints about miner’s safety hazards, China imports appeared first on CryptoSlate.
In a market witnessing a strong bullish momentum with several cryptos reaching new all-time highs and experiencing price recoveries, the XRP price has remained in a consolidation phase for the past two months after a brief surge in March that took it to its yearly high of $0.7430. However, recent positive developments and announcements surrounding Ripple, the blockchain payment company associated with XRP, coupled with an intriguing bullish pattern, have sparked speculation of a potential massive uptrend for the XRP price. Ripple Expands With Clear Junction Partnership Ripple recently revealed its partnership with Clear Junction, a global provider of cross-border payment solutions for regulated institutions. According to the announcement, the new collaboration aims to enable Clear Junction to facilitate “instant and secure” GBP and EUR-denominated payout coverage for Ripple’s payments customers. Moreover, Ripple plans to introduce support for additional currencies later this year, further expanding its network of offerings. Related Reading: Shiba Inu Burn Rate Flatlines With 99% Crash, End Of The Road For SHIB? Cassie Craddock, Managing Director, Europe at Ripple, expressed satisfaction with the partnership, stating the following: Clear Junction is a great fit for Ripple. Right from the beginning, it has been able to support all of our use cases, including providing GBP and EUR payout coverage for our clients sending payments into the UK and European Union. Clear Junction, an FCA-authorized e-money institution in the UK, offers operational support and reports to provide a secure environment for partners. The goal is to ensure the safety and protection of funds through necessary payment industry and data security safeguards. The company has earned ISO 27001 certification, the highest global data security standard. Dima Kats, Founder and CEO at Clear Junction, emphasized the significance of the partnership, stating that blockchain technology and cryptocurrencies will be at the core of the evolution of correspondent banking. Kats further states: We are happy to partner with Ripple to be a part of this process. This collaboration exemplifies two institutions coming together to enhance their respective products and services. We look forward to working closely with the Ripple team and exploring more avenues for future growth. XRP Price To $300? Presently trading at $0.5269, XRP is experiencing a prolonged consolidation phase between the price range of $0.4780 and $0.5441. Despite lacking significant catalysts to propel the token to previous highs, the possibility of retesting its all-time high of $3.40 in January 2018 is on the horizon. A crypto analyst known as “Jack The Rippler” has identified a bullish triangle pattern emerging in the daily XRP price chart, as seen in the image below. Related Reading: Crypto Expert Reveals Top 3 Trades To Take Now Should the pattern fully break out above the $0.600 mark and the anticipated bullish uptrend materialize, as indicated by the analyst, the projected 63,000% surge would skyrocket the XRP price to approximately $331. Nevertheless, the realization of this scenario remains uncertain, and the timeframe required for XRP to overcome its upper resistance levels is yet to be determined. The upper resistance levels currently stand at $0.5414 and $0.5574 in the near term. Featured image from DALL-E, chart from TradingView.com
In a significant legal development, Roger Ver, an early investor in Bitcoin, who has been indicted by the US Department of Justice (DOJ) on multiple charges, including mail fraud and tax evasion, has been released on bail by a Spanish court amid extradition requests from US authorities. Tax Evasion In Connection With Bitcoin Fortune According […]
Allen argued that public blockchains “can’t process large volumes of transactions” — though on-chain data suggests otherwise.
The next high-end smartphone from British electronics maker Nothing will make AI everything, including a personalized AI companion that feels “almost like a best friend.”