Hackers infiltrated McDonald’s Instagram account and utilized it to endorse a counterfeit joke cryptocurrency called GRIMACE, ultimately executing a rug-pull fraud that resulted in over $700,000 in theft. The spurious token, erroneously associated with McDonald’s, experienced a temporary surge in value, reaching $25 million before plummeting. The assailants, identified as “India X Kr3w,” expeditiously liquidated…
Binance CEO Richard Teng assures that the crypto exchange is financially strong. The crypto giant spent 36% more on compliance efforts to strengthen global relationships. Despite receiving licenses from various countries, it avoids expansion into the US. Binance CEO Richard Teng has planned to boost compliance with global regulators and build a sustainable enterprise that…
Amid Bitcoin’s continuous consolidation below the $61,000 price mark over the past weeks, renowned trading guru Peter Brandt, with decades of experience in the financial markets, has recently shared an update on his outlook for Bitcoin and Ethereum. His analysis comes at a time when both of these assets have been unable to maintain a…
Bitcoin’s Q4 rally historically has a 73% chance of occurring during halving years. Breaking the 200-day EMA is crucial; failure could lead to significant price drops. In a recent CNF update, we questioned whether the current Bitcoin accumulation matches that of 2019 and if a $100K parabolic rally is imminent. In a turn of events,…
Tether, the entity responsible for developing the USDT stablecoin, plans to launch a new stablecoin that will be tied to the value of the United Arab Emirates Dirham (AED). This initiative is being carried out in partnership with Phoenix Group and Green Acorn Investments. The next stablecoin, which will be tied to the Dirham, will…
Bitcoin price remains steady above the $60,000 zone. BTC is now consolidating gains, and the bulls could aim for a move above the $62,000 resistance zone. Bitcoin started a consolidation phase above the $60,000 zone. The price is trading above $59,500 and the 100 hourly Simple moving average. There is a key bullish trend line…
After the Fed released FOMC minutes on Wednesday that signaled a possible rate cut next month, Bitcoin’s (BTC) price surged 2 percent to reach a daily high of about $61,830. The flagship coin, however, has experienced a significant resistance level around the 50-day Moving Average (MA). Nonetheless, the daily Relative Strength Index (RSI) has since…
Bitcoin recently pushed above $60,000, driven by key macroeconomic factors. Traders are excited about a breakout towards $70,000. The minutes from the Federal Reserve’s recent meeting suggested rate cuts are likely, which is expected to boost Bitcoin’s price as lower interest rates increase global liquidity. Additionally, political developments, such as Donald Trump’s increased chances in…
August 22, 2024 at 11:08 AM GST 2 mins read News Donald Trump has a 7% lead over Kamala Harris in the polls, while Bitcoin has seen a 4% rise on RFK Jr. dropout rumors. The cryptocurrency market responded, with Bitcoin gaining 4% as speculation about RFK Jr.’s withdrawal. Analysts believe Trump’s poll lead and…
Bitcoin volatility nears 3% as price climbs to $60,742, signaling an end to consolidation. After a slump, Bitcoin (BTC) volatility rises, with prices recovering above $60K. The trading volume rises 30.73% to $35.9B, suggesting an upcoming directional shift. Bitcoin’s volatility is experiencing a notable resurgence following a period of relative calm. According to expert analyst…
On Aug. 22, technical analyst and creator of the stock-to-flow model Willy Woo posted a chart of Bitcoin inventory on exchanges. He noted that things have been bearish until the start of August due to an influx of around 100,000 BTC from the German and US governments selling and Mt. Gox distributions. He added that…
PlanB predicts Bitcoin could surge 7-10x by 2025, potentially hitting $414K-$593K. Strong bullish sentiment suggests Bitcoin may soar after surpassing $70K resistance. According to renowned analyst PlanB, known for the Stock-to-Flow (S2F) model, Bitcoin is poised for a significant price surge despite recent fluctuations. This new update aligns with our recent discussion on Bitcoin (BTC)…
ADA and MATIC show bullish signals, with potential breakouts from key resistance levels. Cardano could rally towards $1 if it successfully breaks out of the falling wedge pattern. MATIC gains momentum amid the ongoing transition to POL, with further upside potential. Cardano (ADA) and Polygon (MATIC) are showing strong technical signs of potential breakouts, according…
Over the years, the Bitcoin price has been through multiple bull and bear cycles, and with the cycles have come a rather consistent trend. As a result, crypto analyst will often use the historical performance of the coin to determine what might happen next. This time around, market expert PlanB has pointed to previous cycle…
August 22, 2024 at 08:27 AM GST 2 mins read News Bitcoin may see a parabolic rise if the U.S. Dollar Index breaks below a critical support level. Historical halving events have triggered significant Bitcoin price increases, with potential for $145,000 post-2024. A weakening DXY has often aligned with Bitcoin rallies, suggesting a similar trend…
On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) Ratio has recently been nearing in on a death cross formation. Bitcoin 30-Day MA MVRV Ratio May Be About To Cross Under 365-Day MA As explained by an analyst in a CryptoQuant Quicktake post, the MVRV Ratio is at risk of going through a…
August 22, 2024 at 05:09 AM GST updated: August 21, 2024 at 10:52 PM 3 mins read News Bitcoin’s price rose to $61,009.87 with a 4.3% increase showing strong investor confidence. Technical signs suggest Bitcoin could change past $65,000 and trigger a beneficial run. Sales experts are closely watching Bitcoin’s next move as key levels…
Mt. Gox sent 1,265 Bitcoin (BTC) worth $75.36m to the Bitstamp exchange, which suggests that payouts to the company’s creditors may follow soon. This is a regular repayment process following the famous hack 10 years ago that saw 850,000BTC lost. The latest transactions from Mt Gox’s cold wallet suggest that the repayment process is picking up. This could…
Although the crypto market has been going up and down lately, Bitcoin is aiming for an ambitious target. A well-known expert called CryptoCon continues to maintain that Bitcoin will set new all-time highs by late 2025. While there is plenty of uncertainty and volatility following Bitcoin’s record high in March, CryptoCon is still confident that…
Malaysia crushed 985 bitcoin rigs worth $452,500 to combat power theft linked to crypto mining. Crypto miners in Malaysia stole RM3.4 billion in electricity from 2018-2023, highlighting severe enforcement needs. Southeast Asia attracts crypto miners with low electricity costs, but faces power theft and environmental challenges. Malaysian authorities have intensified their crackdown on illegal cryptocurrency…
Bitcoin (BTC) and U.S. stocks have shown a negative correlation lately, with Bitcoin often moving in the opposite direction of traditional markets. This divergence has caught the attention of analysts and investors, especially as the cryptocurrency enters a period of consolidation along with the broader crypto market. Historically, shifts in this correlation—from negative to positive—have…
After a strong 3.7% of green 4-hour engulfing candle, Bitcoin (BTC) once again reached its crucial level near $62,000. However, this is the fifth time BTC has reached this level in the last 15 days, and each time it has faced massive selling pressure, resulting in a significant drop in BTC’s value Bitcoin’s Upcoming Levels…
GPT-4o fine-tuning launches, enabling developers to optimize AI models for specific use cases with powerful tools. Access 1M free training tokens daily until Sept 23 to customize GPT-4o for diverse applications and performance. Fine-tuning boosts AI performance with minimal data, offering cost-effective solutions for niche and complex tasks. The highly anticipated fine-tuning feature for GPT-4o…
Bitcoin crashed below $50,000 on August 5 in a sudden dip that saw many positions liquidated in the crypto market. This sudden dip, which cascaded into other cryptocurrencies, took the market by surprise. As such, Bitcoin fell to its lowest price in six months, and many other altcoins followed suit. Although Bitcoin has since recovered…
Bitcoin’s price hit $61,838 per coin by 3:45 p.m. EDT on Wednesday, after spending much of the day lingering below the $60,000 mark. The crypto market mirrored the upward movement seen in the S&P 500 and Nasdaq, which both rallied just before the closing bell. This newfound optimism is largely being credited to the Federal…
Bitcoin surged by 4% back to $61,550 on Wednesday as speculation grew that Robert F. Kennedy Jr. may soon exit the 2024 U.S. Presidential race to endorse Donald Trump. The news has re-established Trump as a betting favorite to win the November election, which is thought by analysts to have major implications for Bitcoin’s short-term…
August 21, 2024 at 04:37 PM GST updated: August 21, 2024 at 04:21 PM 2 mins read News El Salvador’s new program will train 80,000 civil servants in Bitcoin through a 160-hour certification course. The Higher School of Innovation in Public Administration (ESIAP) leads the Bitcoin training, established by President Bukele in 2021. Argentina shows…
El Salvador announces a Bitcoin training session and certification for 80,000 civil servants. The program intends to provide knowledge on Bitcoin management and public policies. The ONBTC Director Stacy Herbert believes the program to have a “compounding effect” on the nation’s Bitcoin economy. El Salvador, the Central American country famous for its advocacy for Bitcoin,…
Bitcoin drops below $60K, sparking a significant downturn in the crypto market as top-10 cryptos trade in the red. Major cryptos like ETH, SOL, and TON face declines as market sentiment turns cautious, reflecting broader concerns. Despite the market slump, tokens like Sundog and SUN buck the trend, posting strong gains amid overall weakness. Bitcoin…
Tron (TRX) investors continue to feel bullish even as the market dips after certain on-chain developments help investor sentiment remain high. According to CoinGecko, the token has increased more than 24% since last week, a sign that investors on the platform have held TRX and accumulated to capture more gains. Related Reading Tron’s developments will…
Rumors are swirling online that Kamala Harris wants to introduce an unrealized capital gains tax if elected President – a move that could theoretically tear up the profits of crypto investors. But some key details are missing from the public conversation – namely that the tax wouldn’t apply to the vast majority of investors. Kamala…
Switzerland has taken a step further in embracing crypto with the recent expansion of the instant payment scheme as other banks integrate XRP into their trading platforms. According to reports, 28% of banks in Switzerland allow or are planning to allow customers to invest in crypto. According to an announcement by the Swiss National Bank…
August 21, 2024 at 07:26 PM GST 2 mins read News Bitcoin hovers near $59,300, testing resistance at $60,000; potential breakout remains uncertain. MACD indicates possible bullish momentum, but RSI below 50 suggests neutral to bearish market conditions. Failure to close above the downtrend line could lead to retesting support levels around $58,000 and $54,000….
Recent data from Cryptoquant researchers indicate that bitcoin demand growth continues to show signs of weakness. Despite this, the report notes that long-term holders have been accumulating bitcoin at unprecedented levels, providing some resilience to the market. Report Shows Bitcoin Demand Craters Amid Weak Market Signals Bitcoin demand has seen a significant decline since early…
August 21, 2024 at 09:12 PM GST 2 mins read News Bitcoin’s dominance hits 56.2%, reflecting increased market confidence and a shift towards Bitcoin as the leading digital asset. Long-term holders continue accumulating, now owning 13M BTC, showcasing strong market conviction despite volatility. Sell-side pressure declines, with $91.8M in buy-side inflows, indicating market stabilization and…
Even though there have been some worries in the world of crypto, new information shows that the market is still strong, especially in the United States and Canada where there is a lot of investment. Some people are nervous because of decisions the Federal Reserve might make about interest rates, but the numbers show that…
Ethereum remains bearish, with consolidation below key resistance signaling market indecision. Polygon shows a strong uptrend but faces potential correction as the TD Sequential indicates. TAO’s breakout suggests potential for significant gains, with key resistance levels highlighting bullish targets. In recent market movements, Ethereum (ETH), Polygon (MATIC), and TAO have captured significant attention due to…
Mike McGlone, senior commodity strategist at Bloomberg Intelligence, joined David Lin for a discussion about Bitcoin. Mike said that in the current financial crisis and with quantitative easing, Bitcoin has been leading risk assets, driving markets to new highs earlier this year. He suggests that Bitcoin may also be leading the market downturn, as it…
On August 21, 2024, the defunct and oldest crypto exchange, Mt. Gox, moved a significant over 14,530 Bitcoin (BTC) worth $860 million in the last 24 hours, as the on-chain analytic firm Spotonchain reported. Following these transactions, the overall cryptocurrency market experienced massive selling pressure. Mt. Gox $860 Million BTC Transfer With the recent transfer,…
As bitcoin hovers just below the $60,000 mark, two long-dormant bitcoin wallets, untouched since 2014 and 2013, sprang to life, moving a total of 342.59 BTC, valued at $20.3 million at today’s rates. 2 Vintage Bitcoin Wallets Suddenly Awaken, Moving $20.3 Million On Wednesday, a bitcoin wallet that had been inactive since Aug. 18, 2014—almost…
Tether announces new UAE Dirham-pegged stablecoin, expanding its stablecoin offerings. Fully backed by UAE-based reserves, the token promises stability and reliability. Designed under UAE Central Bank’s new regulations, enhancing transaction efficiency. Tether, the leading player in the digital asset space, has announced the launch of a new stablecoin pegged to the United Arab Emirates Dirham…
Bitcoin miner Bitfarms said it has entered into a merger agreement to acquire Stronghold Digital Mining for $125 million in equity value, alongside $50 million in assumed debt. In a joint Aug. 21 statement, both companies revealed that their Boards of Directors unanimously approved the transaction. The deal—subject to regulatory approval and other conditions—is expected…
Bitcoin is once again encountering resistance at a crucial level. Despite this, the price is maintaining its support on shorter timeframes, specifically the 2-hour chart, where Bitcoin has managed to hold above a key support level. This support has prevented a major breakdown, even after the market saw significant liquidations. According to analyst Josh of…
El Salvador’s government has introduced a certification program in crypto for all civil servants in the country. Lately, El Salvador has been cementing itself as the world’s leading bitcoin-integrated state by officially introducing a unique civil service bitcoin certification program. The National Bitcoiisffice (ONBTC) leads the effort, an arm of the government that has continued…
August 21, 2024 at 07:33 PM GST 2 mins read News El Salvador certifies 80,000 public servants to boost Bitcoin integration in government. The certification includes seven parts to teach key Bitcoin skills and knowledge. Argentina shows interest in El Salvador’s approach to Bitcoin adoption for economic solutions. El Salvador is deepening its commitment to…
Crypto holder loses $55M in DAI via a sophisticated phishing attack involving a manipulated DeFi Saver Proxy. The victim’s ‘setOwner’ transaction mistakenly transferred DeFi Proxy control to attackers. Experts urge multifactor authentication, security audits, and user education to mitigate rising phishing threats Victim Loses Millions in Sophisticated Scam A cryptocurrency holder suffered a loss of…
Five days ago, Arkham Intelligence revealed that Blackrock, the world’s largest fund manager, was on the brink of overtaking Grayscale in onchain asset value. As of Aug. 21, Blackrock has officially surpassed Grayscale, securing its position as the top digital asset manager in terms of onchain reserves. World’s Largest Fund Manager Just Surpassed Grayscale in…
XRP’s performance has been sluggish, but historical trends suggest potential for significant future gains. Raoul Pal advises moving from older coins like XRP to new assets for better returns in the current market. Legal victories have renewed confidence in XRP despite ongoing skepticism from some market analysts. XRP is facing mixed opinions in the financial…
Despite some increased volatility for the leading crypto, Bitcoin ETFs are still being bought by institutions, according to Bitwise. Indeed, the asset manager noted that institutional investors in the BTC ETFs have continued to increase. Specifically, the figure increased 14% in Q2 of this year. In a new report from the firm, crypto faces a…
On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows of $88.06 million, while ether ETFs experienced outflows totaling $6.49 million. Blackrock’s IBIT and ETHA led the charge, capturing the largest inflows of the day. Blackrock’s Bitcoin and Ether ETFs Lead the Day in Inflows Data from sosovalue.xyz reveals that spot bitcoin ETFs hauled in…