Category: Cryptocurrency News

Bitcoin price is declining from the $27,500 resistance. BTC traded below $26,500 and now remains at risk of a drop toward the $25,500 support zone. Bitcoin is moving lower from the $27,400 and $27,500 resistance levels. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but upsides might be limited above the $26,500 resistance. Bitcoin Price Extends Decline Bitcoin price started another decline from the $27,500 resistance zone. BTC failed to stay in a positive zone above the $26,850 support zone and extended its decline. The bears were able to push the price below the key $26,550 support zone. The price even spiked below the $26,000 level. A low is formed near $25,865 and the price is now consolidating losses. Bitcoin price is trading below $26,500 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $26,250 level or the 23.6% Fib retracement level of the recent decline from the $27,511 swing high to the $25,865 low. The next major resistance is near the $26,400 level. The main resistance is now near $26,550 and the trend line. It is close to the 50% Fib retracement level of the recent decline from the $27,511 swing high to the $25,865 low. A close above the $26,550 resistance zone might send the price toward the $27,200 resistance zone. Source: BTCUSD on TradingView.com The next key resistance is near $27,500, above which the price might gain bullish momentum toward the $28,000 resistance. Any more gains might send the price toward the $28,500 level. More Losses in BTC? If Bitcoin’s price fails to clear the $26,550 resistance, it could continue to move down. Immediate support on the downside is near the $25,850 level. The next major support is near the $25,500 zone, below which the price might dive toward the $25,000 support. Any more losses might take Bitcoin toward the $24,000 level in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 40 level. Major Support Levels – $25,850, followed by $25,500. Major Resistance Levels – $26,250, $26,550, and $26,650.

The detention of a U.S. journalist in Russia has sparked a renewed push from Alexander Vinnik, the co-founder of BTC-e for a possible “prisoner swap” deal.

Following “lawfully served warrants,” Binance worked to flag the accounts and tie up the funds.

I decided to google crypto today and see what was the most reason news. The top results were all about how Chinese Fentanyl producers are raking in tens of millions in crypto. ​ https://preview.redd.it/pgde3o7y5v1b1.jpg?width=788&format=pjpg&auto=webp&s=e55af927988f53bc9757c88eeba9e4065a7ce947 you can try this yourself and compare the results https://preview.redd.it/vjitdk536v1b1.jpg?width=620&format=pjpg&auto=webp&s=08eb372f99c514cf9ca283fddf02676b6bf1da1e I decided to go with the top result which was Fox…
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Bitcoin, the world’s largest cryptocurrency network whose coin, BTC, is the most valuable, seems to have been invaded by an unknown miner. And the community has the new guest on their radar. Unknown Miner Dominates  In the last few hours, the entity has not only plugged into the network but has proceeded to mine several blocks, getting rewarded with the precious 6.25 BTC.  What’s intriguing is that trackers cannot pick out the true identity of the miner who has usurped the established pools such as Binance Pool, AntPool, and even giant mining farms like Foundry USA.  Related Reading: Ethereum Staking Hits Over $40 Billion After Shanghai Upgrade: What It Means For ETH For the last day, the miner has verified over 10 Bitcoin blocks, earning over 65 BTC worth over $1.7 million at spot rates. While there is a chance that a “big” player is new to Bitcoin and has plugged in possibly thousands of mining rigs to stay competitive and verify blocks successfully, it is almost likely that the “unknown” entity is a mining pool. In proof-of-work networks like Bitcoin, a group of miners, that is, retail individuals operating mining nodes, can join hands and merge their computing power called hash rate in “pools.” Whenever they do this, they stand a chance of verifying a block of BTC transactions.  In return, the network automatically rewards them with not only the block rewards of 6.25 BTC but also fees associated with the block. Although rare, fees accumulated in a block may be over 50% of the block reward distributed from the protocol level.  With the Bitcoin hash rate constantly rising and more miners pouring in, mining pools dominate. However, several pools are tailored to meet the needs of various miners. Applicable fees, reliability, and the size of their hash rate are some considerations that may also affect reputation. However, over the years, some of the biggest include AntPool and ViaBTC. Is This F2Pool? It is speculated that the “unknown” entity is F2Pool. The error is displayed on trackers because “Mempool’s attribution logic is just missing them.”  Whether this will also turn out to be true or false will later be verified.  This is because attribution “depends on who the miner says they are. It’d be easy to impersonate another pool and not guaranteed that that pool would notice and deny it was them”. Related Reading: Crypto Market Alert: Tether Market Cap Fuel Hopes For Major Rally F2Pool is one of the oldest and largest mining pools in the world.  According to data from mempool.space, the pool controls 8.19% of the total Bitcoin hash rate.  While it is popular, recent data shows there could have been a hitch in the attribution logic. Trackers show that the last time F2Pool mined was in late May 24. Feature Image From Canva, Chart From TradingView

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