Over the past few weeks, bitcoin has faced a market correction of approximately 11%, leading to increased volatility in its price movements. Despite a brief rebound to $58,000, the cryptocurrency still has a considerable distance to cover before reaching its all-time high levels. Data from the blockchain market intelligence firm Santiment has shown that wallets
Crypto
Recently, ITC Crypto founder and CEO Benjamin Cowen pointed out a wedge chart pattern in the current cycle, highlighting similarities to previous cycles in 2019 but on a larger scale. He mentioned that the structure of ETH/BTC bottomed after an interest rate cut in 2019 and predicted a similar pattern with an impending rate cut
Bitcoin recently experienced a significant surge in price, rising from a daily low of $53,600 to over $58,000 in just one day. Many in the crypto community are left wondering what factors contributed to this sudden increase. One potential explanation lies in the activities of US spot Bitcoin ETFs, which have been influencing the price
Bitcoin (BTC) recently experienced a significant price weakness over the weekend, triggered by the release of August nonfarm payrolls (NFP) data. The NFP data fell below analysts’ expectations, causing BTC to plummet by almost 5% and trade below the $54,000 range. This marked its lowest level since early August. Additionally, the broader crypto market also
The United States Federal Bureau of Investigation recently released a report alerting the public to the “aggressive” attacks being carried out by North Korean hackers against the cryptocurrency industry. These attacks primarily involve the use of sophisticated social engineering tactics that are designed to deceive even those individuals within the crypto industry who are knowledgeable
When Ethereum transitioned from a Proof-of-Work to a Proof-of-Stake consensus mechanism in 2022, it was expected to usher in a new era of performance and value. However, two years after the Merge, Ethereum has faced significant challenges in maintaining its position relative to Bitcoin. One of the major reasons behind Ethereum’s underperformance is the inflationary
Bitcoin’s market price has recently fallen to its lowest point since the early August massacre, dipping below $50,000 for the first time since the approval of spot Bitcoin ETFs in the US. The cryptocurrency had previously rebounded from similar crashes, reaching $65,000 weeks later, but the recent trend shows bears regaining control, with the asset
In a significant legal development in Scotland, £110,000 has been confiscated from John Ross Rennie, a 29-year-old individual involved in a violent robbery. This milestone case represents the first instance where the proceeds of crime legislation have been utilized to seize cryptocurrency as physical cash. The verdict was delivered at the High Court in Edinburgh,
The U.S. Federal Reserve has recently issued a cease-and-desist order against United Texas Bank (UTB) due to significant deficiencies in its governance. The central bank specifically highlighted UTB’s failure to adhere to anti-money laundering (AML) laws and its poor risk management related to virtual currency customers and foreign correspondent banking. Following an examination conducted in
As the crypto market continues to experience fluctuations and uncertainty, it is interesting to note that large investors, known as whales, are actively participating in various projects. A recent analysis conducted by data intelligence firm Santiment has revealed the top ten crypto projects that have witnessed a substantial increase in whale activity. SuperRare: Leading the
Toncoin (TON) investors have been hit hard recently as the cryptocurrency saw a significant drop from its peak in June. With the price plummeting by 40%, nearly 80% of investors are currently facing losses. This downward trend is concerning for those who had high hopes for the asset earlier in the year. Connection to Telegram
The recently released US jobs report fell short of expectations, with only 142,000 new jobs added in August instead of the anticipated 160,000 or more. This disappointing result has raised questions about the state of the economy and what steps the US Federal Reserve may take in response. Bitcoin’s Reaction Interestingly, Bitcoin’s price reacted positively
The percentage of Bitcoin Unspent Transaction Outputs (UTXOs) in profit has recently plummeted to its lowest level in October 2023. This significant decline in the UTXOs metric has coincided with the current downward trend in Bitcoin’s price and the broader crypto market. According to a report by CryptoQuant analyst EgyHash, this could potentially signal the
One of the predominant narratives shaping the crypto market this year revolves around the actions of large holders, also known as whales. These whales have a significant impact on market prices, causing both fear and excitement among investors. The community has expressed concerns about potential market manipulation by whales during price downturns, yet they are
