A breakout to avoid a fresh price dip would be a “miracle,” says Crypto Ed as storm clouds gather for Bitcoin bulls. Bitcoin (BTC) traded worryingly near $30,000 support on June 8 amid fresh predictions of incoming lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price hints at “sub $30,000” move Data from Cointelegraph …
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More than $6 billion worth of Bitcoin is now tokenized on Ethereum as WBTC. One percent of Bitcoin’s circulating supply is currently tokenized as Wrapped BTC (WBTC), equating to nearly $6.2 billion worth of BTC. The milestone was acknowledged by the product manager of crypto custody firm BitGo, Kia Mosayeri, who tweeted the news on …
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Spanish multinational seafood giant, Nueva Pescanova Group, has partnered with The IBM Food Trust to trace the shrimp and prawns it fishes on the blockchain. Spanish-based seafood firm, Nueva Pescanova Group, has announced its working with IBM to utilize its Food Trust platform — a distributed ledger technology platform designed for supply chain traceability. According …
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With Bitcoin’s price consistently trending below its 200-day moving averages and heavy selling identified among miners, some analysts are bracing for further bearish momentum. The crypto markets are against dropping, with Bitcoin crashing below $33,000 for the first time since May 23 as Ethereum similarly broke below support at $2,500. The downward momentum comes as …
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The decentralized exchange Mdex and yield aggregator Filda represent roughly $2.4 billion of Heco’s $2.7 billion TVL combined. Despite Huobi Eco Chain attracting an impressive total value locked (TVL) since launching in December, just two DApps represent 86% of the blockchain’s TVL. According to crypto data aggregator, CryptoRank, approximately $1.98 billion or 73% of Heco’s …
An increasing number of Latin American lawmakers are donning Lazer eyes on their Twitter avatars to express their support for Bitcoin and digital assets. Gabriel Silva, a Panamanian congressman, is moving to follow in El Salvador’s footsteps by proposing legislation to adopt Bitcoin and other cryptocurrencies on a national scale. El Salvador’s president, Nayib Bukele …
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Former top policymakers Jay Clayton and Brent McIntosh has defended the crypto regulatory regimes established during their respective government tenures. The regulatory pressure is mounting in the U.S., with more politicians questioning whether the current framework is adequate. An opinion piece penned for Wall Street Journal by former SEC Chairman, Jay Clayton, and former Undersecretary …
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Institutional investors withdrew a record $141 million from Bitcoin investment products this past week. The latest report from analytics firm CoinShares shows that outflows from institutional BTC investment products continue to surge. According to CoinShares’ June 7 Digital Asset Fund Flows Weekly report, institutional investors are continuing to reduce Bitcoin exposure, with BTC investment products …
THETA and TFUEL rallied more than 50% as investors anticipate the upcoming Mainnet 3.0 launch. Major protocol upgrades can play a significant role in altcoin rallies regardless of the state of the wider cryptocurrency market because new features excite token holders and help to attract new investors. One ecosystem that has been heating up over …
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News of a major adoption move has no impact on lackluster BTC price action prior to government approval — can anything lift Bitcoin out of its range? Bitcoin (BTC) begins another week below $40,000 — but with two major new landmarks under its belt. After falling over continued FUD from China over the weekend, Bitcoin …
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On-chain data shows long-term holders are back in accumulation mode after the recent shake-out cleared network congestion and shook out over-leveraged traders. The May 19 crypto market sell-off saw $1.2 trillion in value erased from the total market capitalization as the froth and excess leverage of over-hyped markets was quickly eliminated. But similar to a …
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Government officials did not specify the exact method used to seize the funds from the ransomware group. Officials with a United States government task force have seized more than $2 million in crypto used to pay for ransom following an attack on the Colonial Pipeline system. In a Monday press conference, Deputy Attorney General Lisa …
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Chainalysis tracked total U.S. dollar gains made by Bitcoin investors in 2020. The country comparison was drawn from an analysis of web traffic on various cryptocurrency exchanges. Emerging markets appear to be punching above their weight when it comes to Bitcoin (BTC) investment, offering further evidence of growing worldwide adoption, according to a new report …
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The latest rally in BTC shorts is similar to what appeared ahead of the Elon Musk-led May 19 market crash. Bitcoin (BTC) bulls should brace for a potential onslaught from bears as the number of margined short positions on Bitfinex jumps by a little over 378%. Known to most by the ticker BTCUSD Shorts, the …
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A growing number of analysts have flipped bearish on Bitcoin and expect a significant price drop, but analyzing data from the perpetual futures and options markets uncovers a contrasting narrative. Margin trading allows investors to borrow stablecoins or cryptocurrency to leverage their position and improve the expected return. For example, borrowing Tether (USDT) will allow …
Continue reading “Crypto Twitter says traders are short Bitcoin, but data shows otherwise”
