Bitcoin (BTC) challenged $31,000 again after the June 27 Wall Street open as traders hoped for upside continuation. $31,000 returns amid Fidelity Bitcoin ETF rumor Data from Cointelegraph Markets Pro and TradingView showed BTC price action edging higher after holding $30,000 support. The start of U.S. trading saw fresh positive news as asset manager Fidelity
admin
Even the most stalwart crypto supporters could see why the Securities and Exchange Commission might target the crypto industry for some enforcement. Events of the past year — from the failure of Three Arrows Capital to the fraud at FTX — were bound to bring some scrutiny, and the industry has always been too hospitable to blatant
After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support
The Australian Treasury’s token mapping of digital assets will adopt a “tech agnostic” and “principles-based” approach in order to define crypto assets, according to a Treasury official. Speaking to Cointelegraph on June 26 at the Australian Blockchain Week, Trevor Power, an Australian Treasury Assistant Secretary said the framework will be structured to easily classify tokens
Bitcoin (BTC) may see a “market correction” should BTC price action go much beyond $33,000, research warns. In the latest edition of its weekly newsletter, The Week On-Chain, analytics firm Glassnode flagged speculative selling risk on the horizon. Bitcoin speculator profits average 12% Bitcoin short-term holders (STHs) — the more speculative BTC investors — have
Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto. During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director of blockchain and digital assets at Commonwealth Bank (CBA) shed light on the bank’s restrictions
Transactions on the Optimism network surged 67% following its June 7 “Bedrock” upgrade, according to a June 26 Twitter thread from blockchain analytics firm Nansen. The network had been seeing less than 300,000 transactions per day before the upgrade, but this figure increased to over 550,000 by the middle of June. Since Optimism’s Bedrock upgrade
The cryptocurrency market saw an explosion of growth during the 2021 decentralized finance (DeFi) Summer and increased fear of missing out (FOMO), which drove prices of Bitcoin (BTC) and much of the cryptocurrency market to all-time highs. During that time, the total value locked (TVL) across DeFi rose to nearly $180 billion before crashing down
The United States Secret Service has finally shed more light on its bizarre nonfungible token (NFT) collection sitting on OpenSea. The NFT collection was first revealed during a Reddit AMA on May 16, where agents answered questions from members of the r/cryptocurrency subreddit about their involvement in crypto and blockchain tech. Until this time, not
The S&P 500 Index (SPX) snapped a five-week winning streak last week but it is still on track to close the first half of the year with stellar gains of nearly 13%. The tech-heavy Nasdaq Composite has done much better as it is up about 29%. Both these indices have been overtaken by Bitcoin (BTC)
A recent surge in activity surrounding exchange-traded funds has led to the largest weekly inflow for digital asset investment products since July 2022, according to a June 26 report via CoinShares. Totalling $199 million, inflows for the week of 19–23 June turned around a nine-week string of consecutive outflows, with Bitcoin (BTC) representing the lion’s
Venture capital financing in the crypto space is no different from typical VC, except the startups benefiting from financing operate in the cryptocurrency market. Venture capital businesses in the cryptocurrency sector concentrate their investments on startups and initiatives linked to cryptocurrencies, blockchain technology, decentralized finance (DeFi) and other cutting-edge distributed ledger technology applications. Projects creating
Ethereum zero-knowledge proof scaling system zkSync Era has unveiled its answer to Optimism’s Superchain concept in the form of ZK Stack. It’s a modular framework for a series of ZK-powered custom blockchains called yperchains, which will operate as a new layer on top of the existing layer-2 protocol. The chains will be composable and interoperable,
Bitcoin (BTC) circled $30,500 at the June 26 Wall Street open as bulls held newfound support. Bitcoin ETF hype puts demands on U.S. session Data from Cointelegraph Markets Pro and TradingView showed BTC price action retaining $30,000 around the weekly close. The largest cryptocurrency began the week on a stable note as U.S. markets began
Hong Kong and Shanghai Banking Corporation (HSBC) — the biggest bank in Hong Kong — has reportedly introduced its first local cryptocurrency services. HSBC has enabled its customers to buy and sell Bitcoin (BTC) and Ether (ETH)-based exchange-traded funds (ETFs), local journalist Colin Wu reported in a tweet on June 26. According to the report,
Bitcoin (BTC) starts a new week in a solid position above $30,000 after its latest rapid gains. BTC price action continues to deliver on bulls’ expectations after weeks of sideways trading offered little relief. Can it continue? That is the question on every trader’s mind this week — $30,000 held into the weekly close and
Binance has decided to reverse its plan to delist a number of privacy coins in Europe after it said it has revised operations in order to comply with local regulations. In a comment from the cryptocurrency exchange recevied on June 26, Binance said that: “After carefully considering feedback from our community and several projects, we
Bitcoin (BTC) exchange-traded fund (ETF) fervor is back with a raft of new applications and an increase in capital inflows from institutional investors. On June 26, a surge of inflows to the ProShares Bitcoin Strategy ETF (BITO) — a Bitcoin futures fund — was observed by Bloomberg senior ETF analyst Eric Balchunas. The fund had
The United Arab Emirates is becoming the next big focus for Binance in the wake of a slew of enforcement actions in the United States against the crypto exchange. Speaking to Cointelegraph, Binance Dubai general manager Alex Chehade said the UAE is a prime destination for crypto businesses seeking a clear path forward and noted
United States Government bonds, or Treasurys, have a tremendous influence across all tradeable markets, including Bitcoin (BTC) and Ether (ETH). In that sense, risk calculation in finance is relative, so every loan, mortgage and even cryptocurrency derivatives depend on the cost of capital attributed to U.S. dollars. Assuming the worst-case scenario of the U.S. government