Kraken’s Powell says Binance Proof-of-Reserve is pointless without liabilities
submitted by /u/eat-sleep-rave [link] [comments]
submitted by /u/eat-sleep-rave [link] [comments]
submitted by /u/PossibleHypeMan [link] [comments]
submitted by /u/mudgen [link] [comments]
submitted by /u/YouHaveToGoHome [link] [comments]
Bitcoin returned to the bottom of its current range and might see further downside pressure in the coming days. The cryptocurrency is still recovering from the collapse of FTX, the former second major crypto exchange in the world, and the contagion unleashed in the sector. Related Reading: Ethereum Tries To Keep Luster As ETH Moves To Narrower Trading Range As of this writing, Bitcoin has recorded a spike in selling pressure. The cryptocurrency is trading at $16,200 with a 2% loss in the last 24 hours. Other assets in the crypto top 10 record similar price action, but the majority preserves profits from last week. Bitcoin Can Crash To Its 2020 Levels Amid FTX’s Collapse A report from Bloomberg claims some institutional investors are bearish on Bitcoin. Mark Mobius, experienced fund manager and founder of Mobius Capital, believes Bitcoin might drop to $10,000 in the medium term. The fund manager claims the crypto industry might suffer from more contagion. Since the crypto exchange filed for bankruptcy, several companies halted operations. The Digital Currency Group (DCG) company, Genesis, is a prominent case. The company stopped accepting withdrawal requests from its customers and is rushing to raise capital to prevent bankruptcy. The situation has led many to speculate about the solvency of DCG. The rumors are contributing to the uncertainty in the crypto market. In this context, the price of Bitcoin and other assets is trending sideways. BTC will likely follow this trend for the coming weeks. Mobius classified the current environment as “too dangerous” to invest any of his clients’ money. Despite the current market conditions and FTX’s collapse, the fund manager believes crypto will have a permanent role in global finances, hinting at a long-term bullish bias: But crypto is here to stay as there are several investors who still have faith in it. It’s amazing how Bitcoin prices have held up. Bitcoin Options Players Expect Doom For December Further data provided by Bloomberg, based on the options platform Deribit, indicates a significant open interest leaning toward the put side (sell contracts) for December. By the end of 2022, many investors are expecting Bitcoin to gravitate around $10,000. However, this data can also be interpreted as many investors hedging their spot-long positions. Investors buy Bitcoin on exchanges, and to protect against potential downside pressure, they purchase put contracts. Related Reading: BCH Price: Investors May Not Want To Go Long Yet On BCH – Here’s Why NewsBTC reported that many investors are aiming for Bitcoin at $30,000 by the end of the year. In that sense, the price of Bitcoin might trend higher or lower without impacting these investors’ portfolios. As seen below, the max pain price is $20,000; this price could be the December target, most likely.
There is almost 1 Million addresses holding at least 1 full BTC! https://preview.redd.it/2p63uae8hp2a1.png?width=1690&format=png&auto=webp&s=ff186265567e3981d71a0381cdd8731784a874ab Very noticeable is the huge increase of nearly 50,000 Addresses just this month most likely caused by the exchange drama. https://preview.redd.it/g3q900y9hp2a1.png?width=1692&format=png&auto=webp&s=2c68c2797dd5d2dfaf2860282d10229b4c05c993 While you could say arguably that some Bitcoin ejoyers own multiple different wallets to lower risk and split their bag…
Read more
During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from […]
ETH price losses key demand zone of $1,200 again Price remains weak as bears battle bulls; so much uncertainty in the market ETH price gets rejected from a low of $1,220 on the high timeframe The price of Ethereum (ETH) trading below $1,200 continues as the price faced rejection, breaking and trending higher to a region of $1,300 after showing from price action bouncing off from its weekly low of $1,080. In the high timeframe, the price of Ethereum (ETH) looks weak, with a probable result of a downtrend movement compared to an upside. Despite the relief bounce and uncertainty surrounding the crypto market, the FTX fiasco continues to act as a catalyst for the market to bottom out. The Domino effect of the FTX saga and other large investors has stalled the market, as it has yet to make a significant move, raising concerns about the market’s direction. (Data from Binance) Related Reading: Ethereum Price Could Avoid a Major Drop if it Closes Above $1,250 Ethereum (ETH) Price Analysis On The Weekly Chart Despite the relief bounce across the market, with the price of ETH rallying from a weekly low of $1,080 to a high of $1,220, the crypto market remains uncertain and turbulent, affecting the price of Ethereum (ETH). Many altcoins are struggling for survival, trying to stay afloat as the prices of altcoins continue a downward price movement. With so much news of a capitulation imminent for all crypto assets coupled with the FTX and other crypto projects suffering from bankruptcy, the bottom could be in soon. ETH’s price had a weekly close below a crucial area of $1,200 after showing so much strength rallying from a weekly low of $1,080 to a high of $1,220 as the price was unable to break above $1,250. After ETH’s price declined from a high of $1,220 to a region of $1,170, the price has struggled to regain such strength it has rallied to this high with more growing speculation of price retesting the region of $700. Weekly resistance for the price of ETH – $1,250. Weekly support for the price of ETH – $1,000. Price Analysis Of ETH On The Daily (1D) Chart The price of BTC remains considerably weak in the daily timeframe after closing below $1,250. With ETH’s price unable to break and close above $1,300, there are growing chances of price retesting the regions of $700. ETH’s price currently trades at $1,174 below the 50 and 200 EMA, acting as resistance for the price of ETH from trading higher. The price of ETH needs to break above $1,400 and $1,700 for the price of ETH to kickstart the price recovery plan. Daily resistance for the ETH price – $1,400 & $1,700. Daily support for the ETH price – $1,000-$900. Related Reading: Dogecoin Price Prediction: Fresh Rally Likely If DOGE Holds This Support Featured Image From Reuters, Charts From Tradingview
submitted by /u/Imaginary-Praline314 [link] [comments]
On-chain analysis identified the movement of one of MATIC's biggest whales, correlating some of its transfers with sharp price drops in Polygon's token, indicating a possible exit. And there are still about 39M left at the address 0xaac22*. This was originally published at my substack — You can access the OP for links and images.…
Read more