Category: Cryptocurrency News

Fred Thiel, CEO of Marathon Digital Holdings Inc., suggested that recent spot Bitcoin ETF approvals have accelerated the market’s appreciation, typically expected post-Bitcoin halving, by attracting significant capital into the market. Thiel remarked that this shift has led to an unusual pre-halving price increase, diverging from the traditional pre-halving price decline, with Marathon’s break-even rate […]

The Bitcoin price has seen a notable fluctuation, briefly surpassing $72,500 on Monday before dipping below the $70,000 threshold on Tuesday. This movement can be attributed to a risk-off sentiment among investors, largely in anticipation of the latest US Consumer Price Index (CPI) figures today. Following a low of $68,200 on Tuesday, Bitcoin managed a slight recovery, stabilizing above $69,400 at the time of reporting. Concurrently, the Hong Kong Securities and Futures Commission (SFC) has updated its registry of virtual asset management funds early on April 10. Notably, the SFC is poised to announce the inaugural list of four Bitcoin spot Exchange Traded Funds (ETFs) on April 15, as reported by Tencent News. This announcement marks a significant milestone, setting the stage for the ETFs’ launch on the Hong Kong Stock Exchange by the end of April. Despite the magnitude of this news, the immediate market reaction has been muted. Hong Kong To Launch Spot Bitcoin ETFs By End Of April According to a Tencent News report, Harvest International Asset Management and Huaxia Funds (Hong Kong) Limited have been officially approved to manage virtual assets, signaling their entry into the cryptocurrency sector in Hong Kong. This development is significant as it introduces mainland China’s leading public fund companies into Hong Kong’s virtual assets industry. Currently, there are 18 funds in Hong Kong authorized to manage cryptocurrency assets, with Harvest International and Huaxia Fund being among the first public funds to venture into this space. Related Reading: Bitcoin Nears Two Important On-Chain Levels: What Happened Last Time Harvest International emerged as the pioneer in submitting a proposal for a spot Bitcoin ETF in Hong Kong as of January 26. Following this initial submission, both companies have now secured the necessary qualifications to issue cryptocurrency-related fund products, including Bitcoin spot ETFs. This move enables retail investors to access these products through the Hong Kong Stock Exchange. The urgency to update the virtual asset management funds list stems from the SFC’s plan to unveil the first batch of Bitcoin spot ETFs by April 15. The initial batch was anticipated to include Huaxia Fund, Bosera Fund, and Value Partners Financial, alongside Harvest International. However, Bosera and Value Partners were notably absent from the updated list due to their lack of an independent responsible officer (RO) qualified in cryptocurrency asset management. These funds are reportedly collaborating with Hashkey Capital and VSFG, both qualified crypto asset management organizations. Related Reading: Ethena’s (ENA) Crucial Role In Bitcoin Bull Market: Expert Identifies Critical Factors For Sustainable Growth In preparation for the ETF launch, some applicants, including Huaxia Fund, have been rapidly assembling dedicated teams and submitting their applications by early March. Huaxia’s swift approval by the SFC, achieved in just two weeks, underscores the rapid pace of development in this area. The application process for a Bitcoin spot ETF in Hong Kong involves extensive collaboration with over 20 institutions, including custodian banks and market makers. Following the SFC’s approval, the Hong Kong Stock Exchange is expected to spend approximately two weeks preparing for the ETF launch. Notably, this move opens up the crypto sector to Chinese retail investors, coming three months after the US SEC’s approval of the first batch of Bitcoin spot ETFs on January 11. At press time, BTC traded at $69,484. Featured image created with DALL·E, chart from TradingView.com

Bitcoin and its adoption by the government of El Salvador have become a negative factor in the country’s negotiations with the IMF. According to reports, the institution demands changes to El Salvador’s Bitcoin law to receive a $1.4 billion credit line for expediting public debt payments and other obligations. El Salvador’s Bitcoin Allegiance Is Getting […]

Hi there, ​ I'm trying to send some ETH to Blast, and fees seems high. Now I know that since Blast is technically a smart contract, the transaction is not a regular "send" ; however I'm getting fees estimate between 30€ et 60€, which seems a bit high for just interacting with a smart contract…
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XRP price is struggling to clear the $0.6420 resistance. The price must stay above the $0.600 support to attempt a fresh increase in the near term. XRP is slowly moving lower from the $0.6420 resistance zone. The price is now trading below $0.6120 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $0.6020 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if there is a close below the $0.600 support. XRP Price Revisits Support After a steady increase, XRP price struggled to clear the $0.6420 resistance. It started a fresh decline below the $0.6250 support, like Bitcoin and Ethereum. There was a move below the $0.6200 support. The price traded below the 23.6% Fib retracement level of the upward move from the $0.5622 swing low to the $0.6420 high. The price is now trading below $0.6120 and the 100 simple moving average (4 hours). It is testing the $0.6020 support and the 50% Fib retracement level of the upward move from the $0.5622 swing low to the $0.6420 high. There is also a key bullish trend line forming with support at $0.6020 on the 4-hour chart of the XRP/USD pair. Immediate resistance is near the $0.610 level and the 100 simple moving average (4 hours). The next key resistance is near $0.6220. low. A close above the $0.6220 resistance zone could spark a strong increase. The next key resistance is near $0.6420. Source: XRPUSD on TradingView.com If the bulls remain in action above the $0.6420 resistance level, there could be a rally toward the $0.6620 resistance. Any more gains might send the price toward the $0.700 resistance. More Losses? If XRP fails to clear the $0.6220 resistance zone, it could start another decline. Initial support on the downside is near the $0.6020 zone and the trend line. The next major support is at $0.580. If there is a downside break and a close below the $0.580 level, the price might accelerate lower. In the stated case, the price could retest the $0.5450 support zone. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.6020, $0.580, and $0.5450. Major Resistance Levels – $0.610, $0.6220, and $0.6420.

Ethereum price failed to continue higher above the $3,725 resistance zone. ETH trimmed gains and now consolidates near the $3,475 support. Ethereum failed to climb higher above the $3,725 resistance level. The price is trading near $3,500 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,510 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,420 support zone. Ethereum Price Faces Rejection Ethereum price started a decent increase above the $3,550 resistance. ETH even cleared the $3,650 resistance zone, but the bears were active near $3,725. A high was formed at $3,726 and the price started a fresh decline, like Bitcoin. There was a move below the $3,600 and $3,550 levels. There was a break below a key bullish trend line with support at $3,510 on the hourly chart of ETH/USD. The pair even spiked below the 50% Fib retracement level of the upward move from the $3,224 swing low to the $3,726 low. Ethereum is now trading near $3,500 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,520 level. The first major resistance is near the $3,560 level. The next key resistance sits at $3,610, above which the price might test the $3,650 level. Source: ETHUSD on TradingView.com The main resistance is now near $3,725, above which Ether could gain bullish momentum. In the stated case, the price could rise toward the $3,800 zone. If there is a move above the $3,800 resistance, Ethereum could even rise toward the $4,000 resistance. More Losses In ETH? If Ethereum fails to clear the $3,610 resistance, it could continue to move down. Initial support on the downside is near the $3,475 level. The first major support is near the $3,420 zone or the 61.8% Fib retracement level of the upward move from the $3,224 swing low to the $3,726 low. The next key support could be the $3,340 zone. A clear move below the $3,340 support might send the price toward $3,240. Any more losses might send the price toward the $3,120 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,420 Major Resistance Level – $3,610

Last year around this time, I connected to iPhone to WiFi at work (in Colorado), it was an non-password required network within a law firm no less. Within minutes, I started noticing someone sent a token to my wallet, then created another transaction, and started transferring all my crypto from my MetaMask Wallet to their…
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