Category: Cryptocurrency News

Twitter’s subscription model is a step toward decentralization, and it will better align incentives between content creators and consumers.

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The redesignation of the crypto mixer essentially replaces the U.S. Treasury’s actions from August, establishing sanctions for its role in “enabling malicious cyber activities.”

They are reportedly facing latency issues due to the high level of new user sign-ups and transfers to the platform.

The crypto market is trading in the red, with Bitcoin and other cryptocurrencies recording double-digit losses over today’s trading session. The number one cryptocurrency retraces its profits from last week and fallback into a new yearly low. Related Reading: Chainlink (LINK) Loses Gains Due To Market Bloodbath, Is Rebound Possible? At the time of writing, Bitcoin (BTC) trades at $18,200, with a 13% loss in the last 24 hours and an 11% loss in the previous seven days. Other cryptocurrencies in the crypto top 10 by market cap are following a similar trajectory, with Dogecoin (DOGE) showing the highest losses over this period.  Bitcoin Crashes Amid FTX “Lehman Moment” The crypto market is reacting to the events related to FTX and Binance. Dubbed the “Crypto Exchange Wars,” Binance emerged victorious when FTX confirmed a deal to surrender its assets, except for FTX.US.  The Sam Bankman-Fried led platform could not redeem its users’ new request for withdrawal. According to reports, the venue was missing as much as $6 billion and was forced to halt its operations.  Amid this uncertainty, the crypto market and Bitcoin faced immense selling pressure. Rumors have surfaced about Alameda, FTX’s trading arm, possibly liquidating its BTC to cover some of its losses, but the team behind the platform has no official statement.  There is speculation about the current state of the market, which has been reflected in Bitcoin and other cryptocurrencies. In addition, the U.S. Midterm election is adding more uncertainty into the mix.  NewsBTC reported yesterday that a Republican win could be bullish for crypto and digital assets. This party has been more prone to support the industry and crypto projects when compared to the Democratic party.  BitMEX Founder Arthur Hayes published his perception of the future of Bitcoin and the crypto industry. Hayes seems bearish as he announced the acquisition of puts (sell) option contracts for Bitcoin.  These contracts have a strike price of $15,000, meaning they can exercise if BTC’s price records another fresh low and crashes into $15,000 to $14,000 or much lower. The BitMEX Founder wrote:  FTX = Lehman That wasn’t the bottom. $SPX hit 666 in March of 2009. Therefore $17,500 BTC is at risk. How ‘bout dem puts now… — Arthur Hayes (@CryptoHayes) November 8, 2022  However, the crypto market has withstood massive stress and several capitulation events. A Lehman moment in the industry might signal a bottom, not more downside. In addition, Hayes has publicly stated its bullish stand on the crypto market.  Related Reading: What Is The Possibility Of Cardano Touching $0.50 Mark? Let’s Explore For more insights into today’s price action, check out the video below:

So pretty crazy day in crypto. 2nd biggest exchange collapsed and we might see the 1st one taking them over I think we can all agree that this whole situation has been a real shit fest so let's try to take something positive from this and mention a couple of real heroes who tried to…
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Coinbase released a statement saying they have no exposure to the FTT (FTX) token and that they hold about $15 MIL in deposits on there. They hold no other interest in FTX. Coinbase stock dipped pretty hard on the FTX news but has recovered. I believe we can take statement as more truthful than FTXs…
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In this episode of NewsBTC’s daily technical analysis videos, we examine the bloodbath across crypto today and the new record low for this Bitcoin bear market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): November 8, 2022 It was a highly volatile day in crypto markets, led by a battle between FTX and Binance that ultimately might end with Binance owning FTX.com. The two company’s CEO’s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear market lower low, setting a new record low for all of 2022 at the same time.  Related Reading: Bitcoin Price: Can Cyclical Tools Predict The Next Bubble? | BTCUSD November 7, 2022 Bulls Demoralized, Bound To Ignore Exhaustion Signal It is hard to imagine much hope for bulls at this very moment. After months of consolidation and a failed attempt at a breakout, bears appear to have regained control. Of the few notable bullish signals – if any remain at all – the TD sequential on daily timeframes has triggered a perfected TD 13 countdown setup, which could indicate that today’s massacre was a buy and the bear trend has been exhausted. Today’s uptick in trading volume seems to confirm more downside – or is the heavy volume the capitulation we have been waiting for instead? Will bulls ignore these exhaustion signs? | Source: BTCUSD on TradingView.com Related Reading: MATIC On The Move After Polygon Tapped By META | MATICUSD November 3, 2022 Bitcoin Futures Goes Back In Time To Beginning Of 2018 Bear Market On BTC CME Futures, Bitcoin price touched down on the only weekly support that exists on the way down. Because CME futures launched after the top cryptocurrency’s 2017 peak, the price chart began with a bear market in Bitcoin. On the yearly timeframe, we can see that the price candle touched exactly at the tip top of the wick representing the 2018 yearly high. BTC Futures returns to 2018 yearly high | Source: BTCUSD on TradingView.com Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022 Why The Log Curve Is The Last Hope For Crypto Bulls For bulls looking for something – anything – to find solace in after today’s bloodbath in crypto, there is a chance that this is the bottom based on nothing more than the log growth curve. Drawn from wick to wick, there is no further room for BTCUSD to go downward much further. Only a few times in history has the exact bottom line been touched and each time has turned into the greatest bull runs on record. With no room left at the bottom of the log growth curve, what in the world will happen next? There is no room left below the log growth curve | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.co

Bitcoin price is down, trading at a new yearly low, but what are the primary reasons behind the most recent decline?

The cryptocurrency market has been facing high volatility at the time. With Bitcoin recording over 13% loss on the day, altcoins took effect and plummeted heavily. Similarly, Chainlink lost its gains following the market trend. But, the token established itself as one of the top gainers on the same day and marked $9.34. Due to turns of events, LINK currently fluctuates a loss of 19.80% and trades at $7.36. This currency made its investors happy with a week-over-week increase of over 3%.  Several key metrics favor LINK maintaining its run in the coming weeks. The token’s underlying blockchain has also bagged several partnerships during the week. Furthermore, LINK crossed a 3-month high today despite the market volatility. As such, the token looks poised to face a bullish rally head-on. Related Reading: Bitcoin To Dump Even Lower? This On-Chain Metric May Suggest It Massive LINK Wallet Activities Pushed Token’s Price Upward The LINK price, as reported by Santiment in a recent tweet, reached a high of $9.20. The last time it reached this level was in the middle of August. The data agency’s team of specialists has settled on two possible explanations for the LINK price increase above $9. They assume that the intense activity of LINK wallets throughout last month was the primary driver of the price surge. Furthermore, investors have been “aggressively” longing LINK. This helped increase the altcoin’s price, causing a surge in funding rates. And on November 3rd, Chainlink announced yet another significant partnership. This time with Seedify Fund, a premier incubator and launchpad for DLT games, NFTs, and metaverses. Chainlink’s goal in building this partnership is to facilitate the growth of the GameFi and NFT industries through its oracle services.  Meanwhile, the coin’s supporters eagerly await the start of staking on Chainlink. As of the end of October, 459 wallets had more than 100,000 LINK, even though the specific date had yet to be disclosed. In fact, this is the highest level since 2017. In addition, Chainlink implemented fourteen integrations across four chains: BNBChain, Arbitrum, Ethereum, and Polygon. There Is Still the Potential for A 25% Correction Since May, LINK has been consolidating its rebound gains inside the confines of an ascending triangle. Ascending triangles are continuation patterns. This means that after a period of consolidation, the price tends to move back in the direction of its previous trend. Before forming its ascending triangle, LINK was on a declining trend. Based on seasoned investor Thomas Bulkowski’s ascending triangles analysis, LINK’s chances of continuing its downturn and reaching its profit goal are 44%. As seen below, the profit goal is calculated by adding the triangle’s maximum height to its breaking point. Related Reading: The War Is Over!: Binance Announces FTX Buyout And The Market Recovers Thus, by December 2022, the LINK price will have dropped to roughly $4.15, or nearly 50% less than its current value. However, independent market analyst Pentoshi forecasts LINK will hit $12 in the same time frame. According to him, the token has been trading above the same support that helped drive its price to a record high in May 2021. Pentoshi said, “While people are quiet on it now. I don’t think that will be the case 3-4 weeks from now.” Featured image from Pixabay and chart from TradingView.com