Category: Cryptocurrency News

The US Treasury has tapped into AI machine learning to sift through data to detect and prevent billions of dollars in check fraud.

Penn Engineering researchers said they created an algorithm that bypassed normal safety protocols stopping AI-powered robots from performing harmful actions. 

Bitcoin (BTC), the largest cryptocurrency by market capitalization, is showing signs of a potential breakout, according to analyst Miles Deutscher. Historically, October has been a strong month for BTC, and recent trends suggest that the cryptocurrency may be on the verge of a substantial upward movement. Over the past week alone, the Bitcoin price has surged more than 13%, approaching its all-time high of $73,700 set in March of this year. Increased Global Liquidity And Low Supply Deutscher notes that Bitcoin has been consolidating above critical support levels for much of the year, positioning it for potential expansion. Despite numerous failed breakouts in the past, which have led to a general distrust among traders, the analyst believes that this environment may create an opportunity for a significant price increase.  Many retail investors remain sidelined, as indicated by Bitcoin’s current ranking on Coinbase and declining Google search interest in the cryptocurrency. This may suggests that the market force known as fear of missing out (FOMO), has yet to set in among investors.  Related Reading: BNB Rejection At Key Level Hints At A Potential Price Correction The macroeconomic backdrop also supports Bitcoin’s potential for further gains. Increased global liquidity—now at its highest level in three years—has historically influenced Bitcoin’s price positively.  Deutscher also emphasizes that as equity markets begin to recover, Bitcoin tends to follow suit, often correlating closely with the S&P 500. Additionally, Bitcoin’s supply on exchanges has reached an all-time low, suggesting that a supply squeeze may be imminent.  The analyst contends that this trend indicates that fewer BTC are available for trading, which could drive prices higher as demand increases. October To April As ‘Boom Period’ For Bitcoin  Deutscher also emphasized in his analysis the upcoming US presidential election, which he believes adds another layer of complexity to the market. The analyst speculates that a victory for former President Donald Trump could lead to favorable market reactions, with Bitcoin potentially positioned as “a pillar of US financial stability.” The Republican candidate has made a number of promises, the most notable being plans to make Bitcoin a reserve asset for the country, with the aim of using it to reduce the $35 trillion national debt, further supported by pro-crypto Senator Cynthia Lummis.  Related Reading: Solana’s Dogwifhat Meme Coin Flashes Buy Signal At $2.5, Is It Time To Jump In? Seasonality also plays a role, according to the analyst. Deutscher explains that the period from October to April 2025 is traditionally seen as a “boom period” for cryptocurrencies.  While Bitcoin needs to break out of its current range—potentially facing resistance around $70,000—Deutscher believes this breakout is likely, especially given the substantial short interest in Bitcoin. At the time of writing, BTC is trading at $66,940, down 1.5% in the 24 hour time frame, as it has encountered significant resistance at the $68,000 level, preventing it from tackling the biggest resistance yet at $70,000.  Featured image from DALL-E, chart from TradingView.com

World, formerly Worldcoin, says its World Chain will privilege verified human users over bots by giving them priority access to block space and an allowance of free gas.

A proposal to change the blob gas target and max values on Ethereum comes seven months after blobs were introduced in the blockchain’s Dencun upgrade in March.

The Kenyan Revenue Authority (KRA) is tightening its grip on cryptocurrency by proposing a real-time tax system integrated with exchanges. This system would track all crypto transactions, capturing details like time and value for tax collection purposes. Beyond real-time taxation, Kenya is considering AI and machine learning to combat tax evasion. These technologies would improve […]

PRESS RELEASE. Solcex, a popular centralized crypto exchange, has recently gained significant traction due to its impressive efforts to enhance the experience of crypto enthusiasts through its platform. The introduction of exciting new features, strategic partnerships, and anticipation of upcoming developments drive the surge in popularity. As a result of these advancements, the project has […]

Cardano price started a fresh decline below the $0.3565 zone. ADA is consolidating above $0.3420 and might attempt a recovery wave. ADA price started a downward move below the $0.3520 support level. The price is trading below $0.3500 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could attempt a recovery wave if it clears the $0.3520 resistance zone. Cardano Price Consolidates Losses After testing the $0.3700 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, unlike Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels. The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3394 and the price is now consolidating losses. There was a minor move above the $0.3420 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. Besides, there was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.350 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3515 zone. The first resistance is near $0.3550 or the 50% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. The next key resistance might be $0.3620. If there is a close above the $0.3620 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3700 region. Any more gains might call for a move toward $0.3880. More Downsides in ADA? If Cardano’s price fails to climb above the $0.350 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level. The next major support is near the $0.3400 level. A downside break below the $0.3400 level could open the doors for a test of $0.3220. The next major support is near the $0.3100 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.3400 and $0.3220. Major Resistance Levels – $0.3500 and $0.3550.

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

On-chain data shows around 95% of all Bitcoin holders are in profit following the latest bullish action that the asset’s price has seen. Very Few Bitcoin Addresses Are Still Underwater In a new post on X, the market intelligence platform IntoTheBlock has shared an update on how the Bitcoin holder’s profitability is currently looking. The analytics firm has made use of on-chain data to determine this. IntoTheBlock has gone through the transaction history of each address on the network to check the average price at which it acquired its coins. Wallets with a cost basis below the current price are assumed to carry some net unrealized profit. Related Reading: Bitcoin Whale Transfers See Massive Spike: Sign Of Profit-Taking? Similarly, addresses of the opposite type are considered to be loss holders. The analytics firm terms the former investors “in the money,” while the latter are “out of the money.” Naturally, the wallets with their average acquisition price equal to the latest spot price of the cryptocurrency would be just breaking even on their investment. They would be said to be “at the money.” Now, here is how the address distribution on the Bitcoin network is like right now across these three categories: As is visible above, around 95% of the existing Bitcoin holders currently have a net profit. About 3% of the remaining are at their break-even level, while the rest 2% are underwater. Thus, the market distribution is currently overwhelmingly skewed towards profit holders. The reason behind this is the recent price rally the asset has gone through. “With 95% of Bitcoin addresses now in profit, market sentiment is booming,” notes IntoTheBlock. “Historically, such levels have signaled strong bullish momentum but can also indicate a potential overextension.” Generally, investors in profit are more likely to sell their coins at any point, so a large amount of them being in the green can raise the chances of a mass selloff occurring with the motive of profit-taking. This is why a high profitability ratio can suggest potential overheated conditions. A huge amount of addresses are in the money right now, so it’s possible that another profit-taking event could happen. It remains to be seen whether demand would be enough to absorb the selling or if a top would take place for Bitcoin. Related Reading: Bitcoin Coinbase Premium Is Negative Despite $68,000 Rally: What It Means On a more bullish note, the Bitcoin inflows to “accumulation addresses” have spiked recently, as CryptoQuant community manager Maartunn has pointed out in an X post. The accumulation addresses refer to the wallets that have no history of selling on the network. These perennial HODLers have just added a massive 56,700 BTC to their wallets, which could suggest they may be starting another phase of accumulation. BTC Price At the time of writing, Bitcoin is trading around $67,400, up more than 11% over the past week. Featured image from Dall-E, IntoTheBlock.com, CryptoQuant.com, chart from TradingView.com