Category: Cryptocurrency News

The crypto market remains in the green with major gains over the past weeks. The general sentiment in the market is shifting as Bitcoin, Ethereum, and other top 10 altcoins regain previously lost territory. Related Reading | Why Bitcoin Must Beat $25,500 To Establish A Bull Rally The chances of an extended bullish momentum seem to be increasing as the macro-economic factors impacting risk-on assets mitigate in short timeframes. The U.S. Federal Reserve (Fed) has begun a period of no contact with the media, and dollar inflation seems bound to decline. This metric as measured by the Consumer Price Index (CPI) stands at a 40-year high and will take a dive in its July print according to data provided by the Bank of America. The banking institution surveyed the market and determined investors “really expect inflation to drop” over the next two years. In addition, as stated by economist Alex Krüger, U.S. equities indices are trending to the upside with “remarkably strong” technical. The Nasdaq 100 and the S&P 500 have broken out of long ascending triangles which suggests a reclaimed of previous highs. The Nasdaq 100 is currently trading at 12,343 with important gains since the start of July. Krüger believes this Index could return to its April 2022 levels which would represent an important bullish trend. The economist said via Twitter: Given the absence of Fed surprises until September’s FOMC (expect July to be a non-event) and assuming no major negative developments on the European front, a summer rally taking prices there makes sense to me. These three factors, absent Fed, a potential decline in inflation, and U.S. equity rallying, are the best-case scenario in the current macro-economic conditions. The crypto market has been showing a high correlation with the Nasdaq 100 and could benefit from a summer rally. Bitcoin, Ethereum, and other cryptocurrencies are already breaking above critical resistance levels. ETH’s price leads the market recovery with a 50% profit in the past week and BTC’s price follows with a 23% profit. What Could Get In The Way Of A Crypto Summer Rally? According to Krüger, U.S. equities need to remain in the green during this earnings season. Stock indices have been reacting well to earnings reports from Netflix, but Tesla and Apple’s reports could truly define this period as a win or a retrace for the crypto market. Related Reading | Solana And Avalanche Poised For Gains As Crypto Market Enjoys New Tailwinds If BTC and ETH’s price can extend their current bullish trend, the next major obstacle might come from the Fed and their September Federal Open Market Committee (FOMC) meeting. Krüger added: After next week and before September’s FOMC (Sep/22) the main things to watch will be CPI inflation data, UMich inflation expectations and payrolls, with the key event being September’s CPI (Sept/13). Mark the calendars with those two dates.

submitted by /u/j4c0p [link] [comments]

Cryptocurrency exchange Zipmex has halted withdrawals due to “volatile market conditions, and the resulting financial difficulties of our key business partners.” The exchange operates in Singapore, Australia, Indonesia, and Thailand. Zipmex Pauses Withdrawals Crypto exchange Zipmex, which operates in Singapore, Australia, Indonesia, and Thailand, has become the latest crypto company to halt withdrawals. The platform […]

Blockdaemon, a blockchain node infrastructure provider supporting over 50 networks, today announced it has acquired Sepior, a data and digital asset security company focused on institutional-grade cryptographic key management and protection. The terms of the deal were not disclosed. Following the acquisition, Blockdaemon will add the ability to offer institutional customers custodial and non-custodial wallet…
Read more

Recently (finally) moved my eth to a ledger. A month or so ago there was a lot of talk about stETH depegging from ETH. Lido ethereum staking, good idea or not? Go for it or just wait for the merge? submitted by /u/BulkyAntelope5 [link] [comments]

With the development of the public chain and the growing adoption of blockchain technology, public chains initiated by crypto exchanges are getting more attention. Relying on the advantages of the exchange’s cutting-edge technology team, the exchange public chain has differentiated itself clearly from the rest. KuCoin Community Chain (KCC) has been established for more than […]

Bitcoin has recovered above $23,000 off the back of a rally that had started during the last leg of the weekend. This recovery has brought more money into the market, which has helped push the price even further. As bitcoin trends at $23,000, there is significant resistance mounting up ahead, presenting various important technical levels. Bitcoin Must Beat $25,500 Even though bitcoin is making its way towards $24,000 in a tremendous bull trend, there are still some technical levels that the digital asset must beat in order to fully establish its arrival in a bull market. An example was the resistance that mounted at $22,000, but the fight was far from over. Related Reading | Bitcoin Dominance Dives As Ethereum Takes Up More Space As support had begun to build up at this previously hard-to-beat resistance level, the bears had moved their defense position further. Presently, bitcoin faces the most opposition when it inevitably makes its break above $25,000. The resistance at $25,500 is so prominent that any sign of sell-offs will turn the tide in favor of the bears. An even more important point is at $28,000. This is because the price point was a yearly low level in 2021. As such, it has become a level to hold for both bulls and bears, depending on what direction they wish to drag the cryptocurrency in. BTC recovers close to $24,000 | Source: BTCUSD on TradingView.com So even though bitcoin had seen some trouble breaking out of the consolidation range high of $23,000, it was not the hardest level to beat for the asset. This means that bitcoin’s hold on its current price level remains shaky at best. If it is unable to hold and falls back down below $22,000, there is every possibility that its price will fall to $19,000, which is where the next significant support levels lie. It is also the support level that propped up its price through the rough early June market. Related Reading | The Worst May Be Over As Crypto Market Adds More Than $100 Billion The market looks promising for the digital asset due to its recent bullish breakout. It is expected that this may lead to more shorts offside in the market and would likely propel the digital asset forward. A break toward $30,000 is unlikely at this point but if bitcoin is able to successfully beat the $25,500 resistance, there is a large chance that the price will see $30,000 before starting back down once more. Featured image from Reuters, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

0x Labs developer advocate believes the current crypto winter provides a chance for “rationalization” and “validates” underlying blockchain systems.

A report that probably does not have any major influences on the market right now but is very good for the long-term future of Bitcoin. The Bitcoin Mining Council has updated that Bitcoin miners are using 58% renewable energy to mine BTC. Even for the last few months this report was constantly over 50%. Showing…
Read more

Following the recent U.S. consumer price index report that indicated inflation in America has reached a 40-year high, many expect the Federal Reserve to hike the benchmark interest rate by 75 to 100 basis points (bps) on July 26. Blackstone’s Private Wealth Solutions expects the Fed to raise the rate by 75 bps and bankrate.com […]