Experts Weigh In Bitcoin has taken a hit, dropping from over $73,600 in March to around $60,800 today. This has sent shockwaves through the crypto community. Causes of the Crash Experts have identified several reasons for the decline: Excessive leverage: Traders were borrowing too much money to invest in Bitcoin. Ethereum’s influence: Ethereum’s price drop…
The Ethereum Foundation (EF) is being investigated by an unknown government agency. The investigation is confidential, so the details are not known. Warrant Canary Removed The EF has removed its “warrant canary” from its website. This is a signal that the foundation has been subpoenaed by the US government. A warrant canary is a way…
A financial expert has analyzed Bitcoin’s Open Interest and found a pattern that could indicate a significant price drop. What is Open Interest? Open Interest measures the total value of Bitcoin derivative contracts currently active on exchanges. When it increases, it usually means more people are opening derivative positions, which can increase market volatility. Conversely,…
Outflows Cross $12 Billion Grayscale’s Spot Bitcoin ETF (GBTC) has been facing significant outflows recently, totaling over $12 billion since trading began. The company’s CEO, Michael Sonnenshein, has acknowledged this and announced that fees for the ETF will be reduced. Grayscale’s High Fees Grayscale’s GBTC has the highest ETF fee in the market, charging investors…
Allegations and Indictment Alexey Pertsev, the founder of Tornado Cash, is facing charges of laundering over $1.2 billion in illicit funds. The indictment alleges that Pertsev used Tornado Cash, a cryptocurrency mixer, to hide the trail of transactions. Pertsev’s Defense Pertsev’s lawyer argues that the indictment lacks specifics on the alleged acts of money laundering….
What are Price Oracles? Price oracles are like messengers that bring information from the outside world into the blockchain. They provide accurate and reliable data, especially pricing information, to smart contracts running on blockchains. Why are Price Oracles Important in DeFi? Price oracles are essential for DeFi because they: Determine collateralization levels in lending protocols…
A popular crypto analyst has predicted a significant rally for Solana (SOL), an Ethereum competitor. The analyst, known as Altcoin Sherpa, believes SOL could double in value this year. Solana (SOL) Sherpa expects SOL to reach new highs, but he anticipates a pullback in the $200-$250 range before it continues its upward trend. He is…
Coinbase CEO Brian Armstrong believes that the most important use case for cryptocurrencies is their ability to provide a return to “sound money.” The Need for a New Financial System Armstrong argues that out-of-control money printing has led to rising inflation and economic inequality. This has created a need for a new financial system that…
Analyst’s Signal Suggests Upside Potential On-chain analyst Willy Woo believes Bitcoin (BTC) is poised for a rally to new all-time highs. His Bitcoin Risk Signal, which compares network flows to price action, indicates that the crypto king is not yet done surging. “Enjoy the dip while this consolidation lasts,” Woo advises. “This is not the…
Halving Trend Bitcoin’s price has been following a pattern before its halving events. In 2020, the price dropped about 20% in the month leading up to the halving. Expected Crash This time around, the price crash is expected to happen around the same time as the halving. The price could drop between 20% and 38%,…
