Bitcoin’s price has taken a dive, dropping below $60,000 and continuing to slide. Market sentiment is turning bearish, raising concerns that a crash similar to the one in May 2021 may be looming. Parallels to May 2021 Andrew Kang, a fund manager, has highlighted similarities between the current market conditions and those leading up to…
Despite the ongoing market downturn, large investors are seizing the opportunity to accumulate Bitcoin. Whale Accumulation According to Santiment, investors holding over 10 BTC have increased their holdings by 1.07% in the past six months. This translates to over 5,000 BTC added to their wallets. Buying on Dips Notably, these whales have been buying more…
Market Disruption and Sun’s Proposal Germany’s recent Bitcoin sales have caused a drop in prices. To minimize the impact, Justin Sun, founder of TRON, has offered to buy all of Germany’s Bitcoin off-market. Germany’s Bitcoin Holdings According to Arkham, Germany still holds around $2.3 billion worth of Bitcoin, seized from a drug trafficker. Justin Sun’s…
Bitcoin has taken a hit, dropping below $58,000 in the past day. Here are some reasons why: CME Gap Analysts believe that the “CME gap” played a role in the price decline. This gap refers to the difference between Bitcoin’s price on the Chicago Mercantile Exchange (CME) futures market when it closed on Friday and…
Regulatory Freeze India’s once-booming crypto market is facing a regulatory chill. Exchanges are struggling to operate due to restrictions, fines, and even exits. Binance’s Troubles Binance, a global crypto giant, faced accusations of violating KYC norms. This led to a suspension of services and a $2.25 million fine. Binance has since collaborated with Indian authorities…
Ethereum (ETH) is taking a nosedive, rapidly approaching the critical support level of $3,051. This sharp decline signals increasing selling pressure and bearish sentiment in the market. Technical Indicators Paint a Bleak Picture A technical analysis of ETH’s price action shows a bearish trend: ETH is trading below its 100-day Simple Moving Average (SMA). The…
SEC Rejects Ripple’s Binance Ruling Interpretation The Securities and Exchange Commission (SEC) has filed a new document in the ongoing legal battle against Ripple Labs. The SEC argues that Ripple’s reliance on a recent ruling in the case against Binance Holdings is irrelevant and misguided. The SEC’s filing criticizes Ripple’s attempt to use the Binance…
Regulatory Clarity While many countries struggle with crypto regulation, Japan has taken a proactive approach. By licensing stablecoin issuers, they have ensured stability within their financial system. Additionally, they have fostered collaborative relationships between stakeholders and regulators, leading to enhanced development and adoption of digital assets. Driving Financial Innovation Japan’s regulators have shown a willingness…
According to data from crypto analytics platform Santiment, decentralized oracle network Chainlink (LINK) has witnessed a significant surge in development activity. Development Activity Rankings Over the past 30 days, Chainlink has climbed from fourth place in May to second place in June in terms of development activity. Hedera (HBAR) remains the leader in this category….
Genesis Digital Assets, a Bitcoin mining firm once backed by disgraced FTX founder Sam Bankman-Fried, is reportedly exploring an initial public offering (IPO) in the United States. Alameda Research’s Investment Genesis Digital Assets received significant investment from Alameda Research, the former investment arm of FTX. Between 2021 and 2022, Alameda poured over $1 billion into…
