Category: Cryptocurrency News

High-risk trader James Wynn lost hundreds of millions of dollars in a matter of weeks by speculating on short-term price movements.

A major Kenyan bank is facing a significant internal breach, with about $4 million (KES 500 million) stolen by contractors involved in its IT infrastructure. Investigations indicate that USDT was central to the laundering process, with funds transferred to multiple offshore wallets, complicating recovery efforts. The Directorate of Criminal Investigations (DCI) has launched an investigation […]

After a near-excellent start to the month of July, Bitcoin has performed even more impressively over the past few days. The premier cryptocurrency, after a brief period of sideways momentum earlier this week, has attained a new all-time-high valuation at a price close to $119,000. Unsurprisingly, the Bitcoin market is experiencing a wave of optimism — an inference still heavily backed by the latest on-chain revelation.  Bitcoin Market Sentiment Shifts Bullish In a July 11 post on social media platform X, cryptocurrency analytics firm Alphractal delved into the current price action of Bitcoin, offering insights into the cryptocurrency’s future trajectory.  Related Reading: Bitcoin Soars Past $118,800—Breakout Or Brutal Bull Trap? The firm’s on-chain observation revolves around the Aggregated Liquidation Levels Heatmap (7 Days) metric, which visualizes price zones with high concentrations of long or short liquidations over a span of 7 days, and the Aggregated Liquidation Levels Heatmap (1 month) which does the same, except that this covers a monthly timeframe. After the most recent Bitcoin price rally to a new all-time high, all of the overleveraged bears had their market positions wiped out. Aided by the short squeeze, which usually follows such large liquidation events, the flagship cryptocurrency still retains its strong bullish momentum and continues to surge.  According to Alphractal, the aggregation liquidation levels across different timeframes now show that most current leveraged positions are betting on the Bitcoin price. As the market continues to ascend the charts, investor optimism will turn more positive, which may further push more traders to open long positions in the BTC futures market. However, Alphractal warned against the inclination to be recklessly involved in the current bullish market. “If, for any reason, the price drops $10,000 back to the $107,000 zone, it could be the bulls’ turn to face massive liquidations,” the analytics firm said. The firm went further, explaining that a Bitcoin price drop of that magnitude would have a negative impact on the market optimism. On the bright side, Alphractal also mentioned that such an occurrence could offer new accumulation opportunities in the near future. Still on market optimism, a drop in Bitcoin’s value by $10,000 might lead to a phenomenon referred to as a Long squeeze, where the price of Bitcoin continues to plummet with increased momentum.  A long squeeze typically occurs when the falling price of a cryptocurrency (in this case, Bitcoin) forces traders with long positions to sell their assets either to cut losses or to break even. This contributes to the already present bearish momentum and sends the BTC price further south.  Amidst Bitcoin’s current rally, Alphractal ultimately advised that traders leverage wisely and with caution, as the market’s next action stands at an unpredictable zone.  Bitcoin Price At A Glance Still showing signs of healthy bullish momentum, Bitcoin, as of press time, is valued at around $118,145. Data from CoinGecko shows that the flagship cryptocurrency has jumped by more than 3.34% in the last 24 hours. Related Reading: Bitcoin Dominance Falls: 9 Factors To Watch For That Says The Altcoin Season Has Begun Featured image from iStock, chart from TradingView

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As the second quarter of 2025 wound down, the U.S. held onto its top spot for the highest share of Bitcoin hashrate—though it slipped slightly, down just 0.60% since May 27. Meanwhile, turning over into Q3, Russia turned up the dial, posting a 6.12% jump in its share since that same date in May. Hashrate […]

On July 12, President Donald Trump threatened to impose a 30% tariff on imports from Mexico and the European Union starting August 1, following unsuccessful trade negotiations. This escalation in the trade war has angered U.S. allies and unsettled investors. Trump communicated this decision in letters to European Commission President Ursula von der Leyen and […]

Seamus Rocca warned that the next Bitcoin market downturn could be sparked organically and not through a single catastrophic event.

Seamus Rocca warned that the next Bitcoin market downturn could be sparked organically and not through a single catastrophic event.