Category: Cryptocurrency News

Generative AI is making scams more scalable and affordable for bad actors to conduct, making them more sophisticated as they leverage the new technology.

Generative AI is making scams more scalable and affordable for bad actors to conduct, making them more sophisticated as they leverage the new technology.

Deutsche Bank-backed Taurus launched a Solana-based custody and tokenization platform that allows banks to issue and manage digital assets.

Community members celebrated as the Ethereum Foundation deployed 45,000 ETH to decentralized finance protocols Aave, Spark and Compound.

Bitcoin and the broader crypto markets faced a jolt on January 12 after the latest US Consumer Price Index (CPI) data came in hotter than expected. The shock sent Bitcoin briefly downward before bouncing back, spurring a range of reactions among traders and analysts. The US Bureau of Labor Statistics released figures showing a 0.5% month-over-month rise in CPI, placing annual inflation at 3.0%—above the previously anticipated 2.9%. Meanwhile, Core CPI (excluding volatile food and energy costs) grew by 0.4% month-over-month, settling at a 3.3% annual rate and similarly surpassing consensus forecasts. Related Reading: Bitcoin OTC Balances Decline, Raising Market Supply Questions Shortly before the data went live, Bitcoin saw a quick drop of -2.1% to $94,250, which some market observers speculate might be tied to traders or insiders receiving an early hint of the inflation overshoot. However, the downturn proved temporary; prices rebounded to highs of $98,100 as worried retail traders watched the market reaction unfold. A ‘Buy The News’ Event For Bitcoin? Santiment, an on-chain analysis firm, weighed in on the volatility in a blog post dated February 13. In an update titled “CPI Catching the Crowd’s Eye…”, Brian Quinlivan, Director of Marketing at Santiment, noted that market participants have become acutely sensitive to any inflation news, especially given the turmoil of the last few years. Citing a 15-month high in CPI-related discussions across social channels like X, Reddit, Telegram, 4Chan, Bitcointalk, and Farcaster, Santiment highlighted the magnitude of traders’ apprehension: “Initially, just before the CPI Report was announced, Bitcoin briefly dropping -2.1% to $94,250 before recovering slightly. This very well could have been some large insiders that were getting wind of the high inflation news ahead of time. However, prices quickly recovered to as high as $98,100 as retails were showing concern.” The post further explained that the shock of this CPI release has reignited fears linked to Federal Reserve policy changes. After cutting rates throughout 2023 and 2024, the Fed abruptly halted further cuts in November 2024. Santiment warns this might signal a prolonged period without additional rate reductions: “Now that inflation numbers are concernedly high in the US, many are predicting that it will be quite a long time before we see further cuts, which traditionally benefit the markets. The rate rises in 2022, which were largely attributed to the massive crypto correction, are still fresh in peoples’ memories.” Related Reading: Bitcoin On The Brink Of A Massive Short Squeeze, Expert Warns Despite the prospect of extended monetary tightening, Santiment observed a potential contrarian signal involving Bitcoin holder counts: “We have already been seeing a decline in total holders on the Bitcoin network, and this is generally a bullish signal. An ideal scenario would be for small traders to overreact to this news, allowing whales and sharks to scoop up more coins and send prices skyrocketing. Based on the early price rebounds following the news, this may be shaping up to be a ‘sell the rumor, buy the news’ scenario.” Market watchers beyond Santiment have also chimed in. Tom Dunleavy, Partner at MV Global, also offered an optimistic take on the data, specifically noting the role of shelter costs: “The key driver of this hot CPI print was housing (1/3 of headline and 40% of core inflation). This reading is massively lagged by almost a year. Nothing to worry about as more real time readings show housing flat to falling in major markets,” he remarked via X. For many traders, the burning question remains: Will this “hot” CPI reading mark the start of a new inflationary trend—or is it simply a quirk of delayed data? Santiment’s suggestion of a possible “sell the rumor, buy the news” dynamic reflects how swiftly sentiment can shift in a crypto market often driven by momentum and social consensus. Meanwhile, Dunleavy’s housing-focused breakdown underscores that headline inflation numbers can be deceptive without dissecting the underlying components. At press time, BTC traded at $96,028. Featured image created with DALL.E, chart from TradingView.com

On February 12, bitcoin ETFs experienced a third consecutive day of outflows, losing $251 million due to significant withdrawals from FBTC and ARKB. Bitcoin ETFs Extend Outflow Streak Bitcoin and ether exchange-traded funds (ETFs) faced significant withdrawals on Wednesday, Feb. 12. Bitcoin ETFs recorded their third consecutive day of outflows, totaling $251.03 million. Notably, Fidelity’s […]

PRESS RELEASE. Big moves are happening in the crypto world, and one of the most exciting developments has just surfaced—a crypto whale has made a jaw-dropping purchase of 36,000 ETH. Why does this matter for you as an investor? Because it signals a bullish sentiment that’s driving attention to revolutionary projects like Lightchain AI, the […]

Tether, the largest company in the digital assets industry, announced a strategic investment in Zengo Wallet, a keyless yet self-custodial crypto wallet. Since its launch in 2019, Zengo has served over 1.5 million users without a single wallet being compromised, thanks to its innovative approach that eliminates traditional seed phrase vulnerabilities. The partnership will enhance […]

Amid today’s market retrace, BNB is leading the market with a 9% surge and surpassed Solana after flipping the cryptocurrency’s market cap. Some analysts suggest BNB’s breakout could attempt to reclaim the $700 level and target new highs. Related Reading: Bitcoin Finds Price Stability: Reclaiming $101,000 Depends On This Level BNB Leads The Crypto Market On Wednesday, the crypto market recorded another retrace, with Bitcoin (BTC) falling to a one-week low of $94,000. The rest of the market registered red numbers, with most cryptocurrencies in the top 10 bleeding. Meanwhile, BNB, previously known as Binance Coin, swan against the current today, jumping to a 12-day high of $689. The cryptocurrency had a strong Q4 2024 after reclaiming the $700 resistance as support and reaching an all-time high (ATH) of $750 in December. Nonetheless, the start-of-year retraces halted BNB’s momentum, sending the cryptocurrency below the $700 mark on Inauguration Day to hover between the $680-$660 price range. The DeepSeek correction further saw the cryptocurrency nosedive to its lowest valuation since September. BNB momentarily fell to $500, driving the market sentiment into uncertain territory. Since then, the cryptocurrency has climbed 34% from the recent lows, steadily recovering key support zones. Today, the token jumped 9%, retesting the $660 and $670 resistance zones for the first time in 12 days. The surge saw BNB lead the crypto market, being the only token in the top 10 by market capitalization (MC) to record gains throughout Wednesday morning. Additionally, the cryptocurrency flipped Solana as the fifth-largest cryptocurrency by market cap after hitting $96 billion. On-chain data analysis firm Lookonchain noted that the BNB chain has processed 68.3 million transactions in the past 30 days, making it the top EVM chain by 30-day transactions. Breakout To $700 Around The Corner? Crypto analyst Ali Martinez pointed out that BNB could be gearing up for a massive move as it approached a key resistance zone between the $660 and $680 levels. According to the post, the cryptocurrency is facing “multiple technical hurdles” within this zone, including the 200, 100, and 50 Simple Moving Average (SMA), the 0.382 Fibonacci retracement, the TD Sequential resistance trendline, and the TD Sequential risk line. The analyst stated that breaking through these levels could “signal the next major move.” Meanwhile, analyst Elja Boom suggested that BNB could be about to follow its 2021 playbook. Related Reading: Ethereum Holds ‘Bounce Or Die’ Level: Rebound To $4,000 Could Be Near The analyst highlighted that the cryptocurrency is following the same breakout structure and trajectory as four years ago, which could indicate a potential surge to new highs is around the corner. BNB is attempting to reclaim its monthly opening level and retest the $700 barrier. A surge above this level could send the cryptocurrency to its two-month downtrend line and “push for the bullish reversal once again.” As of this writing, BNB is trading at $687, surging 7.2% and 21% in the daily and weekly timeframes. Featured Image from Unsplash.com, Chart from TradingView.com