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Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Bear markets have historically been challenging to navigate for traders and the conventional set of “reliable” indicators that determine good entry points are unable to predict how long a crypto winter might last.

Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom . . . → Read More: Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Price analysis 6/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Bitcoin’s (BTC) current bear market is one of the worst, according to a report by on-chain analytics firm Glassnode. This was the first time in history that the Mayer Multiple slipped below the previous cycle’s low. Bitcoin’s fall below $20,000 on June 18 also marked the biggest loss ever booked by investors in a . . . → Read More: Price analysis 6/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

FX Week Ahead – Top 5 Events: BOE, ECB, & Fed Speeches; Chinese Manufacturing PMI; US PCE Index

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Advertisement FX Week Ahead Overview: The final week of June will have central banks, inflation data, and supply chains in focus. Remarks by BOE Governor Bailey, ECB President Lagarde, and Fed Chair Powell – all at 13 GMT on Wednesday – could prove to be the biggest source of . . . → Read More: FX Week Ahead – Top 5 Events: BOE, ECB, & Fed Speeches; Chinese Manufacturing PMI; US PCE Index

British Pound Outlook: GBP/USD in Consolidation Mode, Potential Breakout Eyed

BRITISH POUND KEY POINT: GBP/USD has been range-bound in recent days, but prices could break out soon Cable is approaching the upper boundary of a consolidation channel, a key resistance to watch in the coming days Several high impact events on the calendar could amplify volatility this week

Most Read: USD Technical Analysis . . . → Read More: British Pound Outlook: GBP/USD in Consolidation Mode, Potential Breakout Eyed

Bitcoin price dips under $21K while exchanges see record outflow trend

Bitcoin (BTC) sold off into the June 27 Wall Street open as United States equities fell.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $25,000 eyed as bulls’ line in the sand

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following stock markets downhill as the last week of June began.

At the time of . . . → Read More: Bitcoin price dips under $21K while exchanges see record outflow trend

DAX, DOW and FTSE Mixed as Risk Markets Try to Push Higher

DAX 40:Flat as Attention Turns to The ECB Forum.

FTSE 100:Marginally Higher as Mining Stocks Lead the Way. DOW JONES:Technology Stocks Lead the Way as Treasuries and the US Dollar Slip. DAX 40: Flat as Attention Turns to The ECB Forum

The Dax opened higher this morning following on from gains made . . . → Read More: DAX, DOW and FTSE Mixed as Risk Markets Try to Push Higher

Voyager Digital issues notice of default to Three Arrows Capital

Crypto exchange Voyager Digital has issued a notice of default to hedge fund Three Arrows Capital (3AC) for its failure to pay its 15,250 Bitcoin (BTC) and 350 million USD Coin (USDC) loan disclosed in a previous statement. 

In a market update by Voyager, the exchange noted that it’s currently exploring “legal remedies” . . . → Read More: Voyager Digital issues notice of default to Three Arrows Capital

USD Breaking News: Dollar Finds Support After Strong Durable Goods Release

U.S. DOLLAR TALKING POINTS U.S. Durable Goods Orders (May) –ACT: 0.7%, EST: 0%; CORE – ACT: 0.7%, EST: 0.3% Positives for U.S. economy and greenback. Advertisement

Durable goods orders are used as a barometer for the U.S. economy by measuring industrial activity. This economic indicator represents new order data from U.S. manufacturers for . . . → Read More: USD Breaking News: Dollar Finds Support After Strong Durable Goods Release

Euro Latest: EUR/USD. EUR/JPY Awaits ECB Sintra Forum

EUR/USD Analysis and Talking Points All Eyes on ECB’s Sintra Forum Euro Testing 1.06 as Traders Await President Lagarde

EUR: Price action in the FX space has been relatively choppy, which is despite the sizeable moves observed in rates, commodities and equities over recent trading sessions. That being said, as we approach month/quarter/half-year . . . → Read More: Euro Latest: EUR/USD. EUR/JPY Awaits ECB Sintra Forum

Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol.

Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining . . . → Read More: Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

2022 bear market has been the worst on record — Glassnode

Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin (BTC) traders are underwater and continue to sell at a loss, according to Glassnode.

Blockchain analysis firm Glassnode’s Saturday report titled “A Bear of Historic Proportions” outlines how Bitcoin’s current dip below the 200-day moving average (MA), negative deviation . . . → Read More: 2022 bear market has been the worst on record — Glassnode

Harmony offers $1M bounty, but is it big enough?

The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week. 

Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge . . . → Read More: Harmony offers $1M bounty, but is it big enough?

Crypto conspiracy theories abound, but prop traders are just doing their job

Alameda Research is a cryptocurrency trading firm and liquidity provider founded by crypto billionaire Sam Bankman-Fried (SBF). Before founding his firm in 2017, SBF spent three years as a trader at the quantitative proprietary trading giant Jane Street Capital, which specializes in equity and bonds.

In 2019, SBF founded the crypto derivatives and . . . → Read More: Crypto conspiracy theories abound, but prop traders are just doing their job

Markets Week Ahead: Nasdaq 100, US Dollar, BTC/USD, Crude Oil, PCE Data, Growth Woes

Global market sentiment improved this past week. On Wall Street, futures tracking the Nasdaq 100, Dow Jones and S&P 500 gained 7.25%, 5.25% and 6.34% respectively. In Europe, the Euro Stoxx 50 and FTSE 100 both climbed roughly 2.75%. Meanwhile, in the Asia-Pacific region, Japan’s Nikkei 225 and Australia’s ASX 200 rose 1.23% . . . → Read More: Markets Week Ahead: Nasdaq 100, US Dollar, BTC/USD, Crude Oil, PCE Data, Growth Woes

BTC price tops 10-day highs as Bitcoin whale demand sees ‘huge spike’

Bitcoin (BTC) made the most of weekend volatility on June 26 as a squeeze saw BTC/USD reach its highest in over a week.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Unusual whale activity” flagged

Data from Cointelegraph Markets Pro and TradingView followed the largest cryptocurrency as it hit $21,868 on Bitstamp.

Just hours from the . . . → Read More: BTC price tops 10-day highs as Bitcoin whale demand sees ‘huge spike’

What are Bitcoin covenants, and how do they work?

Various prominent Bitcoin experts, including Adam Back, Jimmy Song and Andreas Antonopoulos, have raised some concerns over the implementation of restrictive covenants, in particular with the BIP119.

In particular, Antonopoulos has voiced concerns over “recursive covenants” that the new update could convey, thereby deteriorating the network. A recursive covenant occurs when a . . . → Read More: What are Bitcoin covenants, and how do they work?

How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?

Ethereum’s native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in the coming months.

ETH/BTC weekly price chart. Source: TradingView ETH/BTC dynamics

The ETH/BTC pair’s bullish trends typically suggest an increasing risk appetite among crypto traders, where speculation is more focused . . . → Read More: How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?

6 Questions for Daniel Yan of Matrixport

We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!

This week, our 6 Questions go to Daniel Yan, founding partner and chief operating officer at Matrixport — a digital assets financial services platform . . . → Read More: 6 Questions for Daniel Yan of Matrixport

Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Ever since early Bitcoin (BTC) investors woke up millionaires as the ecosystem gained tremendous popularity alongside the mainstreaming of the internet, investors across the globe have been in the rush to accumulate as many of the 21 million BTC — one Satoshi at a time.

With BTC recently trading at the $20,000 range for . . . → Read More: Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

Euro Weekly Forecast: EUR/USD in Need of a Nudge Ahead of Next Week’s Key Economic Data

EUR/USD TALKING POINTS Inflation in focus next week. Uncertain exhibited by daily EUR/USD. Advertisement EURO FUNDAMENTAL BACKDROP

The euro has displayed much resilience against the U.S. dollar this week particularly after weak eurozone PMI figures. The dollar remained elevated throughout as we saw Fed Chair Jerome Powell tone down recession fears while other . . . → Read More: Euro Weekly Forecast: EUR/USD in Need of a Nudge Ahead of Next Week’s Key Economic Data

Can you earn passive income running a Lightning node?

The prerequisites to run a Bitcoin Lightning node include an amount of Bitcoin to fund your Lightning channel, fiat money to buy the hardware equipment(s), and a Lightning-compatible wallet.

Remember that Lightning nodes are non-mining nodes, which means you aren’t mining Bitcoin but are vital to validating Bitcoin blocks. Validation Nodes are . . . → Read More: Can you earn passive income running a Lightning node?

Sam Bankman-Fried provides bailouts, ‘Bitcoin dead’ searches soar, and debate over hidden themes behind BAYC continues: Hodlers Digest, June 19–25

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week SBF and Alameda step in to prevent crypto collapse . . . → Read More: Sam Bankman-Fried provides bailouts, ‘Bitcoin dead’ searches soar, and debate over hidden themes behind BAYC continues: Hodlers Digest, June 19–25

Bitcoin (BTC/USD) Latest – Mini Bull Rallies in a Bigger Bear Market

Bitcoin (BTC), Ethereum (ETH) Charts and Analysis: Bitcoin is stuck in a holding pattern. Ethereum outperforms Bitcoin over the week.

Bitcoin has given nothing away to traders this week with muted price action between $19.7k and $21.7k seen over the last 5 days. A marginally better tone in the equity space has helped . . . → Read More: Bitcoin (BTC/USD) Latest – Mini Bull Rallies in a Bigger Bear Market

What is StrongBlock (STRONG) and how does it work?

The digital financial environment continues to develop almost every second, which is no surprise to those in the crypto sector. Among such technological advancements, a new project called StrongBlock has popularized the concept of the node as a service (NaaS) on the blockchain. NaaS is an alternative to running entire blockchain nodes on your . . . → Read More: What is StrongBlock (STRONG) and how does it work?

Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop

The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks to 199.225 exahash per second (EH/s). 

According to the data shared by the Cambridge Centre for Alternative Finance, the Bitcoin network recorded . . . → Read More: Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop

Australian Dollar May Fall as Global Growth Fears Fester

AUSTRALIAN DOLLAR WEEKLY OUTLOOK: BEARISH Australian Dollar price swings echoing evolution of global recession fears Growth forecasts fade amid inflation fight, China lockdowns, Ukraine war G7, NATO and ECB summits compete for influence with top data ahead

The Australian Dollar seems to be trading as a barometer of the markets’ global recession fears. . . . → Read More: Australian Dollar May Fall as Global Growth Fears Fester

Here’s how pro traders could use Bitcoin options to buy the $20K BTC dip

Bitcoin hit a 2022 low at $17,580 on June 18 and many traders are hopeful that this was the bottom, but (BTC) has been unable to produce a daily close above $21,000 for the past six days. For this reason, traders are uncomfortable with the current price action and the threat of many CeFi . . . → Read More: Here’s how pro traders could use Bitcoin options to buy the $20K BTC dip

Gold Prices Eye Bullish Turnaround, Silver’s Outlook Clouded by Recession Fears

GOLD PRICE FORECAST: SLIGHTLY BULLISH SILVER PRICE FORECAST: NEUTRAL TO SLIGHT BEARISH Gold prices decline for the second week in a row, silver also slumps, but suffers heavier losses Falling U.S. yields and increased appetite for defensive positions may begin to push gold higher. Silver may not take full advantage of this situation due . . . → Read More: Gold Prices Eye Bullish Turnaround, Silver’s Outlook Clouded by Recession Fears

Price analysis 6/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

The United States equity markets and the cryptocurrency space are witnessing a relief rally this week. Supporting the rise in risky assets is the U.S. dollar index (DXY), which retreated from its multi-year high. Generally, cryptocurrencies move inverse to the price of the U.S. dollar, but this week’s bounce does not necessarily mean that . . . → Read More: Price analysis 6/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

Axie Infinity to compensate Ronin exploit victims and relaunch bridge

Sky Mavis, the creator of the play-to-earn game Axie Infinity (AXS), announced that it will reimburse victims of the Ronin bridge hack and reopen the bridge next week.

In March, hackers stole more than $620 million in the heist, which included roughly 17,600 Ether (ETH) and 25.5 million USD Coin (USDC) tokens. According . . . → Read More: Axie Infinity to compensate Ronin exploit victims and relaunch bridge

Ethereum price breaks out as ‘bad news is good news’ for stocks

Ethereum’s native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears.

Ether mirrors risk-on recovery

ETH’s price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021.

Overall, . . . → Read More: Ethereum price breaks out as ‘bad news is good news’ for stocks

White hat hacker attempts to recover ‘millions’ in lost Bitcoin, finds only $105

Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin.

In a YouTube video released on Thursday, Grand traveled from Portland to Seattle in an effort to potentially recover “millions of dollars” . . . → Read More: White hat hacker attempts to recover ‘millions’ in lost Bitcoin, finds only $105

Pound Weekly Fundamental Forecast: Unflattering GBP Set to Continue

GBP/USD, Pound Sterling Weekly Fundamental Forecast: Bearish Sterling unphased by UK inflation and retail data – bad news already priced in US PCE inflation data is due and both UK and US final GDP figures to have limited effect on the market, barring any drastic surprises Advertisement

GBP/USD Daily Chart

Source: . . . → Read More: Pound Weekly Fundamental Forecast: Unflattering GBP Set to Continue

Uganda’s gold discovery: What it could mean for crypto

These are fraught times for the cryptocurrency and blockchain sector, so it isn’t surprising that industry proponents might seize upon any promising news to help charge flagging markets. A Reuters report out of Uganda last week about a massive gold ore discovery supplied just this kind of fuel.

What does the state of gold . . . → Read More: Uganda’s gold discovery: What it could mean for crypto

Bitcoin payments make a lot of sense for SMEs but the risks still remain

The last six odd months has seen the cryptocurrency market witness an unparalleled amount of financial volatility, so much so that the total capitalization of this fast-maturing space has dropped from $3 trillion to approximately $1 trillion. This comes after the industry hit all-time highs across the board last November, with Bitcoin (BTC) . . . → Read More: Bitcoin payments make a lot of sense for SMEs but the risks still remain

Bitcoin gives ‘encouraging signs’ — Watch these BTC price levels next

Bitcoin (BTC) headed toward the upper end of its trading range on June 24 as optimism crept back into traders’ forecasts.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price “ready for $23,000”

Data from Cointelegraph Markets Pro and TradingView tracked a broadly stable BTC/USD as it hit local highs of $21,425 on Bitstamp.

. . . → Read More: Bitcoin gives ‘encouraging signs’ — Watch these BTC price levels next

DAX, DOW and FTSE Rise as Investors Rethink Path of Inflation and Rate Hikes

DAX 40:Steady on the Back of Falling German Business Confidence.

FTSE 100:Higher Despite UK Retail Sales Decline. DOW JONES:Higher as Tech Stocks Lead the Way. DAX 40: Gains on the Back of Falling German Business Confidence

The Dax moved higher this morning adding to momentum from a late rally on Wall Street. . . . → Read More: DAX, DOW and FTSE Rise as Investors Rethink Path of Inflation and Rate Hikes

CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

Central bank digital currencies (CBDCs) do not pose any direct threat to cryptocurrencies like Bitcoin (BTC) but are still associated with risks in relation to stablecoins, one industry executive believes.

According to Mikkel Morch, executive director at the digital asset hedge fund ARK36, a state-backed digital currency like the U.S. dollar doesn’t necessarily . . . → Read More: CBDC may threaten stablecoins, not Bitcoin: ARK36 exec

EUR/USD Update: Recession Fears, as Reduced Russian Gas Grips Germany

EUR/USD News and Analysis EU leaders converge on Brussels today to discuss critical gas shortages ahead of the winter period EUR/USD potential ‘double bottom’ formation faces upside challenges ECB’s Forum on Central Banking next week could provide insight into mystery “anti-fragmentation” tool Advertisement EU Leaders head to Brussels to Discuss Serious Gas Shortages

. . . → Read More: EUR/USD Update: Recession Fears, as Reduced Russian Gas Grips Germany

Bitcoin miner ‘capitulation event’ may have already happened — Research

Bitcoin (BTC) miners may have already sparked a “capitulation event,” fresh analysis has concluded.

In an update on June 24, Julio Moreno, senior analyst at on-chain data firm CryptoQuant, hinted that the BTC price bottom could now be due.

BTC price bottom “typically” follows miner capitulation

Miners have seen a dramatic change in circumstances . . . → Read More: Bitcoin miner ‘capitulation event’ may have already happened — Research

Solana smartphone Saga triggers mixed reactions from crypto community

The Solana team has brought mobile phones to Web3 after revealing Saga, Solana’s Android mobile device that will go out with the project’s latest stack for Web3 developers, the Solana Mobile Stack. The community welcomed the new development with various reactions from comparing the project to Apple and Ethereum to bringing up concerns over Solana’s . . . → Read More: Solana smartphone Saga triggers mixed reactions from crypto community

Crude Oil Update: Brent Finds Support as Focus Shifts to OPEC+ Next Week

BRENT CRUDE OIL (LCOc1) ANALYSIS Backwardation points to elevated prices. Recession woes may be declining. OPEC+ output levels. BRENT CRUDE OIL FUNDAMENTAL BACKDROP

Brent crude oil conditions remain tight despite the recent price slump. If we look at the time spreads, we can see that the market remains in backwardation indicating excessive demand . . . → Read More: Crude Oil Update: Brent Finds Support as Focus Shifts to OPEC+ Next Week

Japanese Yen Forecast: USD/JPY Bearish as Yields and Oil Drops

USD/JPY Analysis and Talking Points: Japanese CPI Prints In-Line With Estimates USD/JPY Pullback

The Japanese Yen has been among the top-performing currencies in the G10 space this week. This has come amid the pullback in both global bond yields and oil prices, two factors that have been a key driver of the Yen . . . → Read More: Japanese Yen Forecast: USD/JPY Bearish as Yields and Oil Drops

Breaking: Harmony’s Horizon Bridge hacked for $100M

The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH).

The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge.

Starting at about 7:08 am EST until 7:26 . . . → Read More: Breaking: Harmony’s Horizon Bridge hacked for $100M

When Can S&P 500 Volatility Break a Stock Diversification Strategy? Analyzing the VIX

S&P 500, VIX Index, Stock Sector Diversification, Macro – Talking Points The S&P 500 has 11 sectors to choose from to diversify stock portfolios Broadening exposure is not always perfect at avoiding market volatility What levels of VIX undermine this strategy and what can traders do? What is Stock Sector Diversification?

If an . . . → Read More: When Can S&P 500 Volatility Break a Stock Diversification Strategy? Analyzing the VIX

AUD/USD Eyes Rebound After Iron Ore Catches Bid on President Xi Commentary

Australian Dollar, AUD/USD, Iron Ore, President Xi, Japan CPI – Talking Points Australian Dollar falls against US Dollar as markets shift to risk-off The 2022 BRICS Summit set to kick off today in virtual format AUD/USD looks set for further weakness above key trendline support Friday’s Asia-Pacific Outlook

Asia-Pacific markets are set to . . . → Read More: AUD/USD Eyes Rebound After Iron Ore Catches Bid on President Xi Commentary

Gold Price Outlook Mired by Failure to Test 50-Day SMA

Gold Price Talking Points

The price of gold appears to be stuck in a narrow range following the failed attempt to test the May low ($1787), but lack of momentum to test the 50-Day SMA ($1864) may undermine the rebound from the monthly low ($1805) as the moving average reflects a negative slope.

. . . → Read More: Gold Price Outlook Mired by Failure to Test 50-Day SMA

Buy Bitcoin or start mining? HashWorks CEO points to ‘attractive investment yield’ in BTC mining

Recently, bad news has abounded, and the resulting fear is real. DeFi is looking dead, altcoins completed their lifecycle by returning back to $0 (I guess that’s a joke), and Bitcoin’s (BTC) price fell lower than even the smartest brains in the room expected. 

A unifying theme of the most recent bull market . . . → Read More: Buy Bitcoin or start mining? HashWorks CEO points to ‘attractive investment yield’ in BTC mining

S&P 500 Rises Despite Disastrous US Economic Data, but Recession Fears May Cap Gains

US STOCKS OUTLOOK: S&P 500 rises 0.95% to 3,795, but remains trapped in bear market territory Despite the late day rally, sentiment is fragile amid signs that the U.S. economy is decelerating rapidly and aggressively End of quarter rebalancing activity may support equities in the coming days, but gains could be short-lived amid heightened . . . → Read More: S&P 500 Rises Despite Disastrous US Economic Data, but Recession Fears May Cap Gains

Voyager Digital cuts withdrawal amount as 3AC contagion ripples through DeFi and CeFi

The Singapore-based crypto venture firm Three Arrows Capital (3AC) failed to meet its financial obligations on June 15 and this caused severe impairments among centralized lending and staking providers like Celsius and Babel Finance.

On June 22, Voyager Digital, a New York-based digital assets lending and yield company listed on the Toronto Stock . . . → Read More: Voyager Digital cuts withdrawal amount as 3AC contagion ripples through DeFi and CeFi

‘Foolish’ to deny Bitcoin price can go under $10K — Analysis

Bitcoin (BTC) preserved $20,000 for another day on June 23 with calls for another 20% drop still surfacing.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin under $10,000 not impossible

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging just above the $20,000 mark over the 24 hours to the time of writing.

As . . . → Read More: ‘Foolish’ to deny Bitcoin price can go under $10K — Analysis

EU Races to Regulate Bitcoin, Cryptocurrencies as Market Implodes

Late June could bring new EU crypto legislation EU legislators seek global lead in digital asset regulation US bipartisan effort to regulate crypto introduced in June

The three bodies involved in negotiating European Union rules on Bitcoin and other cryptocurrencies hope to wind up work on the Markets in Crypto-Assets legislation by . . . → Read More: EU Races to Regulate Bitcoin, Cryptocurrencies as Market Implodes

Ethereum risks ‘bull trap’ after 25% ETH price rebound

Ethereum’s token Ether (ETH) could be entering a “bull trap” zone after rebounding back above the $1,000 mark from 18-month lows of $885. 

Ether price paints a “rising wedge”

The first among these indicators is a “rising wedge,” a classic bearish reversal setup that forms after the price trends upward inside a range defined . . . → Read More: Ethereum risks ‘bull trap’ after 25% ETH price rebound

US Dollar Softens After Weak US Business Activity Data Raises Recession Odds

US PMI KEY POINTS: US Composite PMI drops to 51.2 in June from 53.6 in May, hitting a five-month low Flash Services Business activity at 51.6 from 53.4 prior, also a five-month low. Meanwhile, Manufacturing PMI sinks to 52.4 from 57 one month ago, its worst reading in 23 months. Anemic growth suggests the . . . → Read More: US Dollar Softens After Weak US Business Activity Data Raises Recession Odds

Swan Bitcoin CEO against crypto lenders: Users are way under-compensated for the risk

Swan Bitcoin CEO Cory Klippsten believes that the liquidity crisis involving Celsius Network may be just the beginning of a broader collapse in the crypto lending space. 

“It doesn’t matter if you’re an amazing CeFi lending platform, taking these retail deposits and lending them out the back end and giving them yield, or . . . → Read More: Swan Bitcoin CEO against crypto lenders: Users are way under-compensated for the risk

Old-school photographers grapple with NFTs: New world, new rules

Photography often has to weather disruptive changes — from film to digital, for example — and photographers find themselves needing to master new technologies or face losing out to more tech-savvy competitors. NFTs are just another transformation in how we consume images. Can photographers adapt and benefit from them?

Coming to grips with the . . . → Read More: Old-school photographers grapple with NFTs: New world, new rules

DAX, DOW and FTSE Mixed as Global Growth Signals Slowdown

DAX 40:Lower on the Back of Dismal Euro-Area Data. FTSE 100:Flat as Inflation Drives Up UK Debt Costs. DOW JONES:Flat as Markets Ponder Recession Fears. DAX 40: Marginally Lower on the Back of Dismal Euro-Area Data

The Dax struggled in European trade this morning edging lower as dismal euro-area data fed into . . . → Read More: DAX, DOW and FTSE Mixed as Global Growth Signals Slowdown

Crisis in crypto lending shines light on industry vulnerabilities

The crypto market has entered a bearish phase as prices of major cryptocurrencies have fallen to a four-year low. The current downturn in the crypto market has driven several crypto firms to go out of business, while many have made severe job cuts to remain afloat.

The crypto market crisis began with the . . . → Read More: Crisis in crypto lending shines light on industry vulnerabilities

Bitcoin hodler data hints BTC price ‘really close’ to bottom — nalysts

Bitcoin (BTC) could have already seen a price bottom or be “really close” to one, analysts believe after eyeing new data this week.

In a Twitter thread on June 22, well-known indicator creator David Puell revealed what he argues “looks interesting” about current Bitcoin buying and selling.

“High likelihood” bottom is in

With many . . . → Read More: Bitcoin hodler data hints BTC price ‘really close’ to bottom — nalysts

University of Cincinnati turning crypto craze into educational curriculum

Cryptocurrencies are attracting a lot of attention from academic institutions as they become increasingly accepted as an alternative to conventional assets. The University of Cincinnati (UC) in Ohio, United States, has even established courses around cryptocurrency as part of its curriculum.

In fact, UC is working on two new programs that will educate . . . → Read More: University of Cincinnati turning crypto craze into educational curriculum

NZD/USD Technical Setup: Price Action Approaches Key Support

NZD/USD (Kiwi) Analysis Worsening US fundamentals highlight a potential reversal in NZD/USD NZD/USD price action approaching a key long-term area, multiple scenarios considered and discussed Scheduled risk events dominated by US data including final Q1 GDP and PCE data Advertisement

The NZD/USD pair has been suppressed for a while now but approaches a . . . → Read More: NZD/USD Technical Setup: Price Action Approaches Key Support

Crude Oil Latest – Selling Off Into Support as Recession Fears Grow

Crude Oil Price, Chart, and Analysis Crude oil continues its recent fall. Recession fears the latest market driver.

For a list of all market-moving data releases and events see the DailyFX Economic Calendar

Over the last few weeks, recessionary fears have overtaken inflationary fears as the main driver of price action in . . . → Read More: Crude Oil Latest – Selling Off Into Support as Recession Fears Grow

Meta set to begin testing NFTs on Instagram Stories with Spark AR

Instagram’s parent company, Meta, announced Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform Spark AR.

CEO Mark Zuckerberg said of the news, “We’re expanding our test so more creators around the world can display their NFTs on Instagram.” The company also stated in an announcement, “Creators and collectors will . . . → Read More: Meta set to begin testing NFTs on Instagram Stories with Spark AR

Price analysis 6/22: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB

Bitcoin (BTC) continues to face a tough battle near the psychological level of $20,000 as the bulls and the bears attempt to assert their supremacy. Trading firm QCP Capital said in their latest market circular that funding rates on derivatives markets were stable and bearish conditions were fading.

Another ray of hope for the . . . → Read More: Price analysis 6/22: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, SHIB

Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom

Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance. The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 . . . → Read More: Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom

This is what’s standing in the way of DeFi’s ‘NFTification’

Ask someone what an NFT is, and they’ll instinctively think of digital art — the CryptoPunks, Bored Apes and Ether Rocks that have sold for eye-watering sums.

In some circles, nonfungible tokens have been dismissed as a vehicle for speculation, with critics lamenting that demand for such assets is fueled by . . . → Read More: This is what’s standing in the way of DeFi’s ‘NFTification’

S&P 500, Nasdaq 100 Push off Session Lows as Fed Chair Powell Testifies

S&P 500, Nasdaq 100 – Talking Points S&P 500 finds support around 3,700; key fib resistance ahead Nasdaq 100 bounces sharply as gap fill becomes possibility near-term Fed Chair Powell delivers remarks on Capitol Hill

Equities continue to erase sharp overnight losses as Fed Chair Jerome Powell speaks on Capitol Hill on the . . . → Read More: S&P 500, Nasdaq 100 Push off Session Lows as Fed Chair Powell Testifies

Gamma Squeeze Explained: Basic Options Theory and How it Works

GAMMA SQUEEZE TALKING POINTS

Some find the gamma squeeze a mysterious concept. This article aims to illuminate the intricacies of the gamma squeeze by covering the following key ideas:

What is a Gamma Squeeze? Delta and Gamma Greek Call Table. What causes a Gamma Squeeze and how you can avoid it? Gamma squeeze . . . → Read More: Gamma Squeeze Explained: Basic Options Theory and How it Works

DAX, DOW and FTSE Resume Selloff on Sliding Commodities and Inflation Worries

DAX 40:DAX Suffers as Markets Flip-Flop Between Recession and Inflation Fears. FTSE 100:FTSE Slumps as UK Inflation Hits Four-Decade High. DOW JONES: DOW Surrenders the Week’s Gains as Fed Chair Powell’s Testimony Begins. DAX 40: DAX Suffers as Markets Flip-Flop Between Recession and Inflation Fears

The Dax struggled in European trade this . . . → Read More: DAX, DOW and FTSE Resume Selloff on Sliding Commodities and Inflation Worries

Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell keeps quiet on Fed moves

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $20,500 at the June 22 Wall Street open.

The . . . → Read More: Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

Binance-owned Trust Wallet adds buy option via Binance Connect

Trust Wallet, a major self-custodial cryptocurrency wallet owned by the Binance crypto exchange, has completed a significant integration to enable easier crypto purchases.

The Trust Wallet platform has integrated Binance’s official fiat-to-crypto provider Binance Connect with a plan to gradually enable users to purchase more than 200 crypto assets directly from credit or . . . → Read More: Binance-owned Trust Wallet adds buy option via Binance Connect

May Inflation at 7.7% in Canada, Highest Level Since 1983; USD/CAD Holds Gains

CANADIAN INFLATION DATA: May Consumer Price Index rises 1.4% m-o-m, five tenths of a percent above estimates. The annual rate, for its part, surges to 7.7%, the highest level in nearly 40 years. Core inflation advances 0.8% m-o-m and 6.1% y-o-y, also topping expectations USD/CAD holds daily gains after the Canadian CPI report crosses . . . → Read More: May Inflation at 7.7% in Canada, Highest Level Since 1983; USD/CAD Holds Gains

SA40 Forecast: Softer Commodity Prices Weigh on the Index, CPI Breaches 6%

JSE Top 40 Index (SA 40) News and Analysis Softer commodity complex contributes to the index’s decline SA CPI breaches upside target of 6% – currency effects analyzed Key SA40 technical levels for consideration Advertisement Resources Help Send the SA40 Lower

Crude oil trades lower today after yesterday’s sizeable drop in the price . . . → Read More: SA40 Forecast: Softer Commodity Prices Weigh on the Index, CPI Breaches 6%

Crypto brokerage FalconX raises $150M at $8B valuation

Despite the ongoing bearish trend in cryptocurrency markets, venture capital firms continue pouring capital into major industry players like FalconX.

FalconX, the institutional-level digital asset platform and crypto brokerage, has raised $150 million in fresh funding as part of its Series D financing round.

Completed in early June, the funding round values FalconX . . . → Read More: Crypto brokerage FalconX raises $150M at $8B valuation

Bitcoin price wicks below $20K as whales send 50K BTC to exchanges

Bitcoin (BTC) saw a dramatic change of mood into June 22 as multi-day highs gave way to a fresh dive under $20,000.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC could see accumulation below key trendline

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly halting its latest gains to hit lows of . . . → Read More: Bitcoin price wicks below $20K as whales send 50K BTC to exchanges

USDC’s ‘real volume’ flips Tether on Ethereum as total supply hits 55.9B

USD Coin (USDC) is taking a run at the title of the top stablecoin in crypto after its daily ‘real volume’ on the Ethereum network doubled that of Tether’s (USDT) on Tuesday. 

According to crypto market data tool Messari, Circle’s USDC posted $1.1 billion in daily real volume on the Ethereum network on Tuesday, which . . . → Read More: USDC’s ‘real volume’ flips Tether on Ethereum as total supply hits 55.9B

Blockchain isn’t as decentralized as you think: Defense agency report

Distributed ledger technology (DLT) and blockchains including Bitcoin and Ethereum may be more vulnerable to centralization risks than initially thought, according to Trail of Bits. 

The security firm on Tuesday released its report titled “Are Blockchains Decentralized?” which was commissioned by the United States government’s Defense Advanced Research Projects Agency (DARPA).

The report . . . → Read More: Blockchain isn’t as decentralized as you think: Defense agency report

Is there a way for the crypto sector to avoid Bitcoin’s halving-related bear markets?

There is good reason to be afraid. Previous down markets have seen declines in excess of 80%. While tightfisted hodling might hold wisdom among many Bitcoin (BTC) maximalists, speculators in altcoins know that diamond handing can mean near (or total) annihilation. 

Regardless of one’s investment philosophy, in risk-off environments, participation flees the space with . . . → Read More: Is there a way for the crypto sector to avoid Bitcoin’s halving-related bear markets?

S&P 500 Soars Ahead of Fed Powell’s Testimony. Is This Another Dead-Cat Bounce?

US STOCKS OUTLOOK: S&P 500 mounts a strong recovery after last week’s punishing sell-off Despite positive sentiment on Wall Street, U.S. stocks remain biased to the downside, including the top equity benchmarks Market’s attention will turn to Powell’s congressional testimony on Wednesday and Thursday

Most Read: Dow Jones, S&P 500 and Nasdaq 100 . . . → Read More: S&P 500 Soars Ahead of Fed Powell’s Testimony. Is This Another Dead-Cat Bounce?

Cointelegraph Store introduces Summer of Crypto merch collection

As the market gets hot with the recent price drops, traders need a way to stay cool and take a break from looking at their portfolios. Cointelegraph has dropped a summerwear collection to help holders express their identity as crypto believers, especially when it’s time to take a dip at the pool or the . . . → Read More: Cointelegraph Store introduces Summer of Crypto merch collection

Bitcoin price taps 5-day highs as Shiba Inu leads altcoin gains

Bitcoin (BTC) saw continued strength on June 21 as Wall Street trading opened with a trip to near $21,500.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst eyes diminishing BTC stocks correlation

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it reached $21,633 on Bitstamp, its best performance since June 16.

The largest . . . → Read More: Bitcoin price taps 5-day highs as Shiba Inu leads altcoin gains

DAX, DOW, and FTSE Edge Higher on a Positive Risk Tone Tuesday

DAX 40:Moderately higher as ECB President Christine Lagarde confirms interest-rate intentions. FTSE 100: FTSE presses ahead amid biggest UK rail strike in 30 years. DOW JONES: US equities trickle higher as we await testimony from Fed Chair Powell. DAX 40: Moderately Higher as ECB President Christine Lagarde Confirms Interest-Rate Intentions

The DAX . . . → Read More: DAX, DOW, and FTSE Edge Higher on a Positive Risk Tone Tuesday

Risky business: Celsius crisis and the hated accredited investor laws

Accredited investor laws are the bane of many in the crypto industry, who see them as preventing small investors from accessing big opportunities. When Celsius was recently forced to cut off access to U.S. citizens who were not accredited investors, many cried foul.

Did it help some users avoid the current crisis? Or do . . . → Read More: Risky business: Celsius crisis and the hated accredited investor laws

Canadian Dollar Firms After April Retail Sales Top Estimates, May Inflation Data Eyed

CANADA RETAIL SALES REPORT: Canada’s April retail sales grow 0.9% month-over-month, one tenth of a percent above expectations Strong consumer spending suggests that consumption remains resilient despite soaring inflation Canadian dollar extends gains against the U.S. dollar after the retail sales data surprise to the upside

Most Read: Canadian Dollar Forecast – Has . . . → Read More: Canadian Dollar Firms After April Retail Sales Top Estimates, May Inflation Data Eyed

USD/JPY Prints New 24-Year High amid Uncertain Policy Response

USD/JPY News and Analysis Finance ministry response to sharp FX moves leaves much to be desired Risk events: Japanese CPI inflation and Jerome Powell’s address to the US Senate Key USD/JPY technical levels to consider Advertisement Finance Ministry’s Response to Sharp FX Moves Still Under Consideration

In a statement that essentially opened the . . . → Read More: USD/JPY Prints New 24-Year High amid Uncertain Policy Response

Bitcoin (BTC/USD) Latest – Bitcoin Back Above $21k, Musk Gives Dogecoin a Boost

Bitcoin (BTC), Dogecoin (DOGE) Charts and Analysis Bitcoin (BTC) crawls back above $21k. Elon Mush reiterates his support for Dogecoin (DOGE).

The cryptocurrency market is looking to stabilize after another heavy sell-off over the weekend with Bitcoin changing hands around $21.2k, while Ethereum trades back above $1.15k. The two largest cryptos by market . . . → Read More: Bitcoin (BTC/USD) Latest – Bitcoin Back Above $21k, Musk Gives Dogecoin a Boost

Bitcoin S2F model gives false sense of certainty, says Vitalik Buterin

Ethereum co-founder Vitalik Buterin has criticized the controversial Bitcoin (BTC) stock-to-flow (S2F) model, popularized by a pseudonymous Dutch institutional investor known as PlanB.

The BTC stock-to-flow model gained a lot of attention during the bull run as it got several price predictions right, however, the model deviated on a number of occasions during the bull market as well.

. . . → Read More: Bitcoin S2F model gives false sense of certainty, says Vitalik Buterin

What is Vulcan Forged (PYR) and how to make money playing it?

What is a play-to-earn crypto game?

Distributed technologies including blockchain and nonfungible tokens (NFTs) enable game developers and gamers a more interactive, immersive and incentivized experience than ever before through the new game model advertised by tech enthusiasts and named the play-to-earn (P2E) crypto games model.

P2E games, also known as blockchain-based or . . . → Read More: What is Vulcan Forged (PYR) and how to make money playing it?

Cloudflare outage affects multiple crypto exchanges

Cloudflare, a significant infrastructure provider for the internet, recently experienced widespread problems, leaving many crypto exchanges down.

The content delivery network (CDN) confirmed via an update posted on Tuesday that it is experiencing issues with its services and network, and a fix is currently being implemented. However, the firm has yet to provide . . . → Read More: Cloudflare outage affects multiple crypto exchanges

Ukraine sells CryptoPunks NFT donation for 90 ETH, worth over $100K

It took cross-border sanctions and an escalating war for the Ukrainian government to realize the importance of cryptocurrencies, as it witnessed uninterrupted monetary aid in the form of crypto and nonfungible tokens (NFT).

In a continued effort to aid the needs of its citizens and the nation, the Deputy Minister of Digital Transformation of . . . → Read More: Ukraine sells CryptoPunks NFT donation for 90 ETH, worth over $100K

Ethereum testnet Beacon Chain launched and ready for trial merge

The Sepolia testnet Beacon Chain has gone live, setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights.

Upon merging with its dedicated Beacon Chain, the Sepolia testnet will begin reaching consensus using proof-of-stake (PoS) rather than proof-of-work (PoW), which will provide data on what may happen . . . → Read More: Ethereum testnet Beacon Chain launched and ready for trial merge

Price analysis 6/20: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

The crypto markets have been in a strong bear phase for the past several months but JPMorgan Chase analysts expect that to change and they have projected a significant upside from the current levels. The analysts cited the rising share of all stablecoins in the total crypto market for their bullish outlook.

Unperturbed by the . . . → Read More: Price analysis 6/20: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

Iranian government to cut power supply for the country’s legal crypto mining rigs

According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran’s Ministry of Energy, said that the entity would be cutting the power supply to all of the country’s licensed crypto mining firms by the beginning of July.

Citing an anticipated electricity deficit from the peak-summer season, Mashhadi . . . → Read More: Iranian government to cut power supply for the country’s legal crypto mining rigs

More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever

Canada’s Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors.

Purpose Bitcoin ETF has 51% of AUM slashed

The fund’s holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level . . . → Read More: More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever

Why the crypto market crash may play in Bitcoin’s favour

Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra (LUNA, now rebranded LUNC) and Celsius and the following market sell-off will lead to regulatory action that will likely favor Bitcoin (BTC) over the rest of cryptocurrency. 

“I’m going to be watching for regulation developments, just signifying that . . . → Read More: Why the crypto market crash may play in Bitcoin’s favour

ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K

The firm behind one of the first Bitcoin futures-linked exchange-traded funds in the United States will give investors a new vehicle to bet against the price of the cryptocurrency.

In a Monday announcement, exchange-traded fund issuer ProShares said its Short Bitcoin Strategy ETF would be available for trading on the New York Stock . . . → Read More: ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K

Quantitative Tightening: What is it and How Does it Work?

What is Quantitative Tightening?

Quantitative tightening (QT) is a contractionary monetary policy tool used by central banks to reduce the level of money supply, liquidity and general level of economic activity in an economy.

You may be asking yourself why any central bank would wish to lower the level of economic . . . → Read More: Quantitative Tightening: What is it and How Does it Work?

‘Bitcoin dead’ Google searches hit new all-time high

Collapsing Bitcoin (BTC) prices are reviving renewed speculation about the demise of the leading cryptocurrency, according to Google search trends. 

Google searches for “Bitcoin dead” spiked in the week ending Friday, June 18, and likely reached the highest level on record. Google Trends tracks interest in search terms over time, assigning scores of 1 . . . → Read More: ‘Bitcoin dead’ Google searches hit new all-time high

DAX, DJI and FTSE Push Higher as Risk Assets Catch a Breather

DAX 40, FTSE 100, Dow Jones Analysis DAX 40: DAX hovers as markets await ECB’s Lagarde testimony. FTSE 100: Moderate gains as UK Economy remains under pressure. DOW JONES: US equities nudge higher as markets await Fed Powell’s testimony. DAX 40: DAX hovers as markets await ECB’s Lagarde testimony

Choppy trading on Monday . . . → Read More: DAX, DJI and FTSE Push Higher as Risk Assets Catch a Breather

Euro Latest – US Dollar Weakness Helps EUR/USD Stabilize

EUR/USD Price, Chart, and Analysis

EUR/USD back above 105.00 on USD weakness. Fed speakers, including Jerome Powell, are out in force this week.

The US dollar is on the backfoot in European trade, and back above 105.00 in US holiday-thinned trade. The US Juneteenth, a federal holiday, sees the US bond markets, . . . → Read More: Euro Latest – US Dollar Weakness Helps EUR/USD Stabilize