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…
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…
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…
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…
VanEck’s Bold Move VanEck, a major investment firm, has filed for a Solana (SOL) exchange-traded fund (ETF). This move has raised eyebrows, as it’s the first such filing in the US. Trump’s Influence VanEck’s head of digital assets research, Matthew Sigel, has confirmed that the ETF filing is a bet on Donald Trump winning the…
British banking giant Standard Chartered has made a bold prediction for Bitcoin (BTC). They believe it will soar to $100,000 from its current price of around $60,000. Election Day Surge Standard Chartered’s head of forex and digital assets research, Geoffery Kendrick, expects Bitcoin to reach $100,000 by the US election day in November. He also…
Why the Drop? The recent Bitcoin price drop is largely attributed to the “CME gap,” a price discrepancy that occurs between the Bitcoin spot market and the CME Bitcoin futures market. The CME futures market is closed on weekends and holidays, while the spot market operates 24/7. This difference can lead to a gap in…
