As Bitcoin enters a critical week, analysts are keeping a close eye on several factors that could determine its short-term trajectory. Economic Indicators Last week’s economic data, such as the CPI and PPI, showed signs of disinflation, which is positive for risk assets like Bitcoin. However, the Federal Reserve has cautioned against being too optimistic…
To prevent tax dodging in the crypto industry, Malaysia’s tax authority (IRB) has launched “Ops Token.” This operation, with help from the police and cybersecurity experts, targeted businesses in the Klang Valley suspected of hiding their crypto transactions. Details of the Operation Ten locations were raided to prevent “tax revenue leakages” from crypto exchanges. The…
Former Speaker of the House Paul Ryan proposes a bold solution to the looming national debt crisis: integrating cryptocurrencies, specifically dollar-backed stablecoins, into the US economy. Stablecoins: A Solution to the Debt Auction Crisis Ryan argues that stablecoins could prevent a catastrophic failure in the next debt auction, which could damage the US’s global credibility…
Bitcoin vs. Altcoins Renowned finance author Robert Kiyosaki, known for his bestseller “Rich Dad Poor Dad,” has declared Bitcoin the simplest route to millionaire status. The “Easiest Way” to Become a Millionaire Kiyosaki believes that becoming a millionaire through entrepreneurship requires “intelligence, dedication, and luck.” In contrast, he prefers investing in Bitcoin because it “does…
The Biden Administration and Congressman Ro Khanna will host a roundtable discussion on Bitcoin and cryptocurrencies in Washington, D.C., this July. This move signals the growing importance of regulating and innovating in the digital asset space. Keeping Crypto Innovation in the US The roundtable aims to explore ways to keep blockchain innovation and Bitcoin within…
The Ethereum Foundation has moved $64.4 million worth of ETH to a new address. This has sparked concerns about a potential dump, as the Foundation has a history of selling ETH at the top of the market. Past Sales and Market Impact Since the beginning of 2024, the Foundation has sold over 1,700 ETH. These…
Crypto analyst Jamie Coutts believes the current market dip is a mid-cycle correction, presenting potential opportunities for investors. Market Correction Impacts Since March, smaller altcoins have underperformed compared to Bitcoin and Ethereum. The Top 200 equal weight index has fallen 33%, while the Market Cap index has declined by 12%. Specific sectors have seen significant…
A crypto analyst has reported that Bitcoin whales, or large holders, have sold over $3.3 billion worth of BTC in just 10 days. Analyst Ali Martinez revealed that whales have sold more than 50,000 BTC. Miners Join the Sell-Off Martinez also noted that Bitcoin miners have contributed to the recent price drop by selling over…
Farcaster, a social media platform built on the Ethereum blockchain, is rumored to be considering launching its own token. Funding and Valuation Despite having only 50,000 daily active users, Farcaster recently raised $150 million in funding, valuing the company at $1 billion. This is the largest investment in Web3 social media to date. Token Speculation…
Approval Process Nearing Completion A Bloomberg expert predicts that spot market Ethereum (ETH) ETFs could be approved in the US by July 2nd. Senior ETF analyst Eric Balchunas says that the US Securities and Exchange Commission (SEC) has responded to filings from major financial firms, indicating that approval is imminent. “We are moving up our…
