A renowned Bitcoin trader believes the recent price drop is beneficial for the cryptocurrency’s long-term uptrend. Consolidation and Renewed Strength According to Dave the Wave, Bitcoin’s move below $60,000 has halted the possibility of a parabolic surge. He suggests that further consolidation will provide a solid foundation for a stronger surge later this year. “It’s…
Bitcoin’s Steep Decline Bitcoin recently plunged to $60,000, and crypto research firm 10x Research predicts it could fall even lower. Analyst Markus Thielen points to a “topping formation” that suggests a drop to $50,000. Factors Supporting the Bearish Outlook Lack of New Investment: The crypto market is seeing net outflows, with US Spot Bitcoin ETFs…
Technical Analysis Tony “The Bull” Severino sees oversold RSI levels, similar to those during the FTX collapse, indicating a potential bottom. Volume and Market Behavior The Byzantine General notes high spot volume during the price drop, which has historically signaled local bottoms. Social Media Sentiment Santiment reports a spike in social media discussions about the…
Exodus from Bitcoin Bitcoin, the crypto king, has been taking a beating. Investors are fleeing in droves, spooked by the prolonged price slump. Last week alone, a whopping $630 million exited Bitcoin, according to CoinShares. This follows a similar outflow of $631 million the week before. The sell-off extends to Bitcoin exchange-traded funds (ETFs), which…
Compromised Email System The Ethereum Foundation has confirmed that its official email system, managed by SendPulse, has been hacked. They include malicious links that could lead to data theft or malware installation. Foundation’s Response The Ethereum Foundation has locked down external access to the compromised account and is investigating the breach with SendPulse. The attackers…
Whale Sell-Offs Recent data suggests that Shiba Inu (SHIB) whales have been selling off their holdings in droves. The number of large transactions (over $100,000) has surged by 400% in the past day. Downward Trend This whale activity has contributed to a sharp decline in SHIB’s price, causing it to fall below the critical resistance…
A deepfake video of Elon Musk has been running wild on YouTube, tricking thousands of cryptocurrency investors. The Scam The livestream featured an AI-generated Musk announcing a “revolutionary” Tesla event and a “generous cryptocurrency giveaway.” Viewers were instructed to send their Bitcoin, Ethereum, or Dogecoin to a specific address, with the promise of doubling their…
Louisiana has passed a new law that protects Bitcoin and bans Central Bank Digital Currencies (CBDCs). Safeguarding Bitcoin House Bill 488 ensures that Louisiana residents can: Own and use Bitcoin without restrictions Store Bitcoin in wallets for safekeeping Make Bitcoin transactions without additional regulations Rejecting CBDCs The law also prohibits the issuance or use of…
Collaboration vs. Isolation As traditional financial institutions and centralized entities enter the Web 3.0 space, the industry faces a crossroads. Some advocate for collaboration, while others see it as a threat to decentralization. Finding Common Ground Despite fundamental differences, Web 3.0 and traditional entities can find common ground. Just as global superpowers collaborate in areas…
Over a quarter billion dollars worth of Chainlink (LINK) tokens have been transferred to crypto exchanges, according to analyst Ali Martinez. LINK Deposits Surge On June 22nd, 18.77 million LINK tokens, valued at approximately $256.20 million, were sent to exchanges. This has led to a drop in LINK’s price, which is currently trading at $13.03….
