Author: NBTC
BTC bulls failed to penetrate critical resistance after positive U.S. inflation data, leaving the doors open for more losses. Downside may be limited as recent supply overhang from Germany’s Saxony state has exhausted. Fed rate cut bets, FTX repayments may offer support, according to a prime broker. Thursday was a significant day for crypto markets as bitcoin (BTC) failed to surpass a key resistance despite a positive U.S. inflation report, maintaining the downward trajectory observed since early June. On Thursday, after the U.S. reported the first drop in consumer prices in four years markets quickly lifted the Fed rate cut…
As the broader crypto market recorded a slight slump overnight, many Dogecoin (DOGE) holders have seen this as an opportunity to make a cheaper bet on the meme coin. According to insights shared by top market analyst Ali Martinez, about 700 million DOGE have been accumulated by whales in the trailing 72-hour period. #Dogecoin whales have bought over 700 million $DOGE in the past 72 hours, worth around $112 million! pic.twitter.com/zpMoHz1azX — Ali (@ali_charts) May 31, 2024 The performance of Dogecoin in recent times is arguably mixed. After soaring as high as 12.63% in the past month, the price backtracked…
A U.S. House of Representatives vote on whether to override a veto from President Joe Biden failed on Wednesday, leaving the Securities and Exchange Commission’s crypto accounting policy intact. Rep. Maxine Waters, one of the central Democratic negotiators on crypto legislation, said the SEC and the banking industry are in talks to change the controversial accounting policy. A strong majority of the U.S. House of Representatives voted against President Joe Biden’s defense of the Securities and Exchange Commission’s contentious crypto accounting policy, but the turnout fell well short of the two-thirds of the House needed to override the president’s recent…
Minswap, the biggest decentralized exchange (DEX) in the Cardano ecosystem, announces the launch of its updated trading platform. The DEX made this known in a tweet today, indicating that the new version offers cheaper, more composable, sustainable, secure and scalable transactions. Minswap V2 is now LIVE! 🎉 Cheaper ✦ Scalable ✦ Sustainable ✦ Composable ✦ Secure ➜ https://t.co/75dkdLNN1d pic.twitter.com/oGkM2dNsRw — Minswap Labs (@MinswapDEX) July 10, 2024 Notably, Minswap V2 emerged with a complete redesign with user experience in mind. The new design comes with a user-friendly interface to enhance the trading experience. It also offers new functionalities, ranging from dynamic…
The Fear and Greed Index, a popular Bitcoin sentiment indicator, has now plunged into the “extreme greed” territory with 25 points out of 100. This is the first time in 18 months that the index has recorded such an extremely low reading. Last time this happened, the cryptocurrency market was still trying to get back on its feet following the shocking collapse of the FTX exchange. Now, the cryptocurrency market has been hit by Mt. Gox repayments as well as a non-stop selling spree by the German state of Saxony. On Thursday, the price of the leading cryptocurrency surged to…
Key Points: Congressmen Rich McCormick and French Hill push for release Binance executive, highlighting international diplomatic pressures. The resolution mandates continuous consular visits and unrestricted medical care for the detained Binance official. U.S. Congressmen Rich McCormick and French Hill introduced a joint resolution in the House of Representatives, urging the Nigerian government to release Binance executive Tigran Gambaryan. The resolution expresses worries concerning his detention and calls on the U.S. government to use all available means of diplomatic channels to secure his release. The detention of Gambaryan has received global attention; hence, the resolution calls for his rights to be…
OKX is one of the world’s 10 largest crypto exchanges and processes over $100 billion in spot bitcoin transactions annually. However, despite its size and seven-year operating history, its employees made a rookie mistake that hints at only a basic understanding of the Bitcoin network and managing unspent transaction outputs (UTXO). The exchange recently repeated an embarrassing mistake that it first made in October 2023: bidding against itself. Specifically, it broadcast UTXO-consolidating bitcoin transactions at average fee rates but then, incredibly, started bidding against its own transactions. Because of poor safeguards while dealing with the Bitcoin network, OKX wound up…
Bitcoin recent price slide could mean that the stock market’s benchmark index, the S&P 500, may be about to drop significantly as well, as the two assets often move in tandem as investors with greater risk appetite bet on both. According to Barry Bannister, managing, managing director and chief equity strategist at Stifel, Bitcoin’s recent losing streak that saw it plunge from around $65,000 to a low above the $53,000 mark before recovering may be a cause for concern. The cryptocurrency, down more than 23% from its all-time high, could signal a similar downturn for stocks, he argued, as the…
Four nominees for regulatory positions across the Biden administration were questioned in a Senate Banking Committee confirmation hearing on Thursday. Crypto only came up a few times, including in the questioning of the Securities and Exchange Commission’s Caroline Crenshaw on bitcoin trading products. Commissioner Caroline Crenshaw of the U.S. Securities and Exchange Commission (SEC) told senators on Thursday that rampant fraud in crypto markets left her unwilling to approve bitcoin exchange traded products earlier this year. In a nomination hearing before the Senate Banking Committee, Crenshaw and others seeking Senate confirmations defended their records. Crypto issues received only minimal attention,…
Jump Trading’s Tai Mo Shan says the FTX estate owes it $264 million over a loan involving 800 million SRM that Alameda never delivered. Lawyers for the estate say this claim is invalid because the loan was never initiated. The FTX bankruptcy estate is pushing back against a claim by Jump Trading’s subsidiary Tai Ho Shan, which asserts that Alameda didn’t deliver 800 million Serum (SRM) tokens and wants $264 million in damages, but Alameda says that the claim is invalid because the loan never commenced. SRM was the native token of the decentralized exchange (DEX) Serum. Jump Trading announced…