The Bitcoin price is hanging by a thread as it retraces its gains from yesterday’s trading session. Once again, macroeconomic forces seem to be taking over the price action as the number one cryptocurrency by market capitalization looks into the abyss of a potential fresh leg down.
Central Bank Chairs Push Bitcoin Price To The Downside, Will BTC Bounce Again?
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The short-term trend for Bitcoin price is sideways, where it wobbles between the $24500-$18350 barrier. During the consolidation, the coin price has repeatedly retested the bottom support, validating it as a strong accumulation zone. Amid the recent sell-off in September, the BTC price dropped to the $18350 mark, trying to replenish the bullish momentum. Key
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If Bitcoin falls under the June lows of $17,500 it could further trigger a downside to $14,000. Bitcoin miners have been selling throughout September, as a result, miners have sold around 8000 BTC this month. After a short pullback above $20,000 earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) continues to face selling pressure […]
Der Beitrag Bitcoin: Big dump coming that pushes BTC to $14K after rising over $20K first – Analysts take erschien zuerst auf Crypto News Flash.
The Bitcoin Policy Institute’s report on CBDCs makes a strong case for why the US should reject a centrally issued version of the dollar. Bitcoinist covered that already. This time, we’ll focus on the reasons why The Bitcoin Policy Institute thinks CBDCs don’t make sense and are not practical for capitalist societies. The main argument […]
On-chain data shows the Bitcoin 30-day long-term holder SOPR hasn’t yet reached the historical bottom level during the current cycle. Bitcoin 30-Day Long-Term Holder SOPR Has Declined Recently As pointed out by an analyst in a CryptoQuant post, the long-term holders haven’t attained their maximum pressure point yet. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is less than 1, it means the overall market is realizing some amount of profit currently. On the other hand, the indicator having values than the threshold suggests that investors as a whole are moving coins at a loss at the moment. “Long-term holders” (LTHs) are a cohort of Bitcoin investors who hold their coins for at least 155 days before selling or moving them. Here is a chart that shows the trend in the 30-day moving average BTC SOPR over the last several years specifically for these LTHs: The 30-day MA value of the metric seems to have been going down in recent days | Source: CryptoQuant As you can see in the above graph, the 30-day MA Bitcoin LTH SOPR seems to have hit a specific level around the price bottom in each of the previous two cycles. These touches of the level in the loss region didn’t exactly coincide with the cycle lows, but they were still quite close, making them good buying opportunities for the crypto. Related Reading: 2022: The Year Extreme Fear Took Over The Crypto Market In recent months, as the bear has taken over, the indicator’s value has declined below the 1 mark, implying the LTHs have been selling at a loss recently. While the metric has declined deep into the red zone by this point, it’s still not at the level where the historical cycles observed their bottoms. Though, as the chart shows in the bottom, the DPO (an indicator that’s popularly used for finding cycle tops and bottoms of any quantity) of the LTH SOPR has started turning back up recently. Related Reading: Bitcoin Notches Highest Trading Volume In Over 3 Months, Binance Data Shows In the past bear markets, the LTH SOPR reached the bottom level not too long after the DPO reversed trend like this. If a similar pattern follows now as well, it may not be too long until long-term holder loss selling reaches its maximum point. BTC Price At the time of writing, Bitcoin’s price floats around $19.2k, up 1% in the past week. Looks like BTC has been moving sideways again during the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Hacks and exploits are increasingly taking more root in the crypto space. With the acceptance of digital assets globally, crimes also grow. The criminals use more technological approaches to aid their exploitation and hacks on protocols and platforms. A slight and negligible loophole is enough to result in these exploits. MEV bot, an Ethereum arbitrage trading bot, amassed a whopping $1 million as a jackpot prize. However, the joy of its gains was short-lived as events turned out negatively for it some hours later. Before adequately reflecting on the tremendous value, a hack wiped the gains. Related Reading: QUANT Basks In Green As QNT Coin Surges 35% On 7-Day Rally MEV Bot’s Crypto Gains Came Through Arbitrage Trading Opportunity Robert Miller, an employee of Flashbots, a research firm, took to Twitter to report the attack. He noted that the Maximal Extractable Value (MEV) bot with the prefix 0xbadc0de earned Ether through arbitrage trades. He said the bot gained up to 800 ETH worth about 1 million in the works. The bot leveraged a considerable arbitrage opportunity from trader sales from Miller’s explanation. The transaction involved about $1.8 million in cUSDC via Uniswap v2, a decentralized exchange (DEX). The trading yielded just $500 assets in return. Upon detecting the advantage, the bot immediately utilized its availability to obtain a huge earning. But the bot’s gain could not stay much longer when a hacker discovered a vulnerability in its lousy code. The bad actor used the lapse to trick it into authorizing a transaction. The hacker wiped the bot’s balance, about 1,101 ETH. PeckShield, a blockchain security company, revealed that the bug is traceable to the bot’s callback routine. This served as the loophole for the exploit through which the hacker approved an arbitrary address for spending. Similar Vulnerability Attack Vulnerability attacks on the crypto space are skyrocketing. For example, an Ethereum vanity address generator, Profanity, recorded a vulnerability exploit on September 18. The attack ended with a loss of $3.3 million worth of funds from different wallets. 1Inch Network, a DEX aggregator, investigated the exploit. The DEX discovered some ambiguity in the creation of the compromised wallets. It warned the wallet users to move their funds due to the risk associated with their use. Related Reading: Bitcoin Notches Highest Trading Volume In Over 3 Months, Binance Data Shows There was another exploit on a vanity wallet address just a week after that of Profanity. The attack resulted in the loss of some Ether valued at approximately $1 million. The hackers moved their proceeds to Tornado cash, the crypto mixer which was recently sanctioned. Featured image from Pixabay, Chart: TradingView.com
Biden’s administrative team is about to get shuffled as the Treasury Secretary, Janet Yellen leaves after midterm, the shuffle might mean a positive turn for Crypto since Yellen was an anti-crypto advocate. Yellen previously made several negative comments and advised against crypto adoptions. Although no one knows why Yellen is leaving, she received several criticisms […]
Bitcoin (BTC) trading volume is on the rise, as the cryptocurrency market shows some signs of improvement. As of this writing, BTC is trading at $19,326, up 3.2 percent in the last 24 hours, data from Coingecko show, Thursday. Today is one of the busiest trading days for Bitcoin since mid-June. CryptoQuant attributes the recent surge in BTC trading volume to Binance. CoinGecko also reveals a dramatic increase in Bitcoin trade volume over the past three days. Total trade volume for the coin is $142.5 billion, a massive rise from $81.6 billion, or a 42.5% gain. However, recent charts reveal that the market is still prone to volatility, especially when it comes to the BTC/BUSD pair. Despite this possibility, Binance’s recent measures could aid Bitcoin and the broader cryptocurrency market in recovering from the recent massive liquidations. Bitcoin Whales In Aggressive Mode Binance made the decision to remove trading fees for a number of Bitcoin pairs on July 7. Included in this are trading pairs involving Bitcoin and their native stablecoin, the Bitcoin Dollar (BUSD). As a result, the amount of daily trades in BTC/BUSD spiked almost immediately. The current price of the pair is $19,369. There has been an increase in value due to BTC being purchased by “whales” using BUSD. Futures contracts on BTC/BUSD have likewise followed this pattern. As of today, the total number of BTC/BUSD transactions has reached 8.9 million. But does this whale frenzy portend future success for Bitcoin? Quite possibly. Related Reading: MANA Price Gets 2.5% Weekly Boost As Bulls Charge For Reversal Chart: TradingView.com Potential Breakout? Or A Dip In The Offing? The unexpected spike in Bitcoin transactions and trade volume is remarkable. This simple fluctuation can prompt traders to initiate profitable positions. At this time, Bitcoin long holdings are realistic. However, the likelihood of a breakout is still quite remote. Currently, the Stoch RSI and CCI numbers are on the rise, which can provide sell signals to day traders seeking a rapid profit. However, the tapering end of a descending triangle formation can make it difficult for bulls to break. Currently, the pair is hovering at the 78.60 Fibonacci level, with immediate resistance at the $19,792 price range. With support at $18,137.58, a continuation of the rise is feasible if the bulls maintain their strength. Related Reading: Fantom Surprises With 5% Rally In Last 24 Hours – More Gains Ahead? BTCUSD pair showing signs of vigor, trading at $19,417 on the daily chart | Source: TradingView.com Featured image from The Market Periodical, Chart: TradingView.com
Many people, especially those who are not so familiar with what’s going on in the cryptocurrency world, would wonder how come these cryptocurrencies remain so popular amidst negative feedback from many skeptics. The Prevalence of Cryptocurrency Many would say that cryptocurrencies are “dark money”, meaning they are only used for transactions involving illicit activities in […]
Der Beitrag Why Cryptocurrency Remains Popular Amidst Feedback from Skeptics? erschien zuerst auf Crypto News Flash.
China has become a hotbed of illicit crypto trade lately. The country has earned quite a reputation in the international community when it comes to scams and illegal activities involving cryptocurrencies. For the past months and years, there have been a number of notable illicit activities originating from the country or involving Chinese nationals that were […]
The year 2022 so far has seen the crypto market spend most of its time in the fear territory, with a large chunk of it being especially deep into extreme fear. Crypto Fear And Greed Index Continues To Point At “Extreme Fear” According to the latest weekly report from Arcane Research, the market has continued to be fearful without any breaks for 178 days now. The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the crypto sector. The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values above 50 signify that investors are greedy right now, while those below the threshold suggest a fearful market. Values of more than 75 and less than 25 towards the ends of the range imply sentiments of “extreme greed” and “extreme fear,” respectively. Now, here is a chart that shows the trend in the crypto fear and greed index over the past year: The value of the metric remains quite low | Source: Arcane Research’s The Weekly Update – Week 38, 2022 As you can see in the above graph, the crypto fear and greed index has continued to be at a low value in recent weeks. The current value of the indicator is 20, which means the market sentiment is that of extreme fear at the moment. Related Reading: Bitcoin 90-Day CDD Hits All-Time Low, What Does It Say About Market? In total, the investors have been fearful for 178 consecutive days now, the longest streak since the metric was created back in 2018. For a great chunk of this time, the crypto market has actually had an extremely fearful sentiment. Prior to the relief rally in prices of coins like Bitcoin back during August, the sector saw a record extreme fear run. Overall during the year 2022, the indicator has spent very few days in the greed territory. Extreme fear has taken over the market for much of the time, and when there hasn’t been bottom sentiment, there has still been fear looming around the investors’ minds. Related Reading: Bitcoin (BTC) Price To Reach In Millions By 2030, Says Analyst Historically, the relevance of extreme fear territory has been that cryptos like Bitcoin have generally observed bottoms during stretches of such deep sentiment. The report notes that while accumulating in these periods can be a good strategy, investors should be aware that the fearful sentiment can go on for much longer still. BTC Price At the time of writing, Bitcoin’s price floats around $19k, down 1% in the past week. Looks like the value of the crypto has already come down from the surge a couple of days ago | Source: BTCUSD on TradingView Featured image from Natarajan sethuramalingam on Unsplash.com, charts from TradingView.com, Arcane Research
India’s law enforcement agency Directorate of Enforcement (ED) froze over $1,5 million deposited in crypto exchange Binance. The funds were deposited in Bitcoin via a transaction tie to crypto exchange WazirX and the Mobile Gaming App called E-Nuggets. Related Reading: Don’t Fight The Fed: FOMC Meeting Is Most Volatile For Bitcoin Ever According to a […]
The Chinese government has never supported crypto activities since the emergence of the industry. The People’s Bank of China took further actions against the digital industry and banned all local digital assets operations. Since the crypto ban in China, the government never stopped ringing a reminder that no digital activity can thrive in the country. […]
Traders say they would favor Bitcoin and four altcoins in their portfolios for the week. According to a survey, ETH, QNT, USDC, Binance, and Bitcoin were voted to be overweight this week. Popular for outperforming the markets, The Real Vision Bot has unveiled its latest weekly crypto portfolio allocations. The robot provides new algorithm portfolio […]
Der Beitrag This Robot known for outperforming BTC chooses Ethereum and 5 altcoins for massive short gains erschien zuerst auf Crypto News Flash.
While currencies are struggling to rub shoulders with the US Dollar, Bitcoin has remained calm and is staging mini rallies. Sven Henrich, the founder of NorthmanTrader, a markets research firm has stated that the current stability of Bitcoin compared to some prominent fiats is a unique time in history. The stronger position of the US […]
Der Beitrag Bitcoin (BTC) adoption rising despite market crash – NYTimes praising Bitcoin as stable currency erschien zuerst auf Crypto News Flash.
Is Dr. Ruja Ignatova the cryptocurrency world’s biggest scammer? The competition is fierce, there are so many faces and stories fighting for that spot, but none of them is on the FBI Most Wanted List. Dr. Ruja is. Great, but, why is NewsBTC revisiting the 2019 true crime podcast “The Missing Cryptoqueen”? Because Jamie Bartlett, the journalist behind the project, just released a new episode. Episode 10 of The Missing Cryptoqueen is now out. The hunt it back on: Israel, Dubai, Luxembourg, The Eurovision Song Contest & Krispy Kremes. Sorry, it’s taken me & @GeorgiaJCatt a while. And welcome to our new teammate @ByrnesyGsy! https://t.co/bfZWgBqeeP — Jamie Bartlett (@JamieJBartlett) September 28, 2022 Is there new information? Did they FIND Dr. Ruja Ignatova The only thing we know for sure is that there’ll be a few new episodes, and that’s all we needed to hear. A BBC production, “The Missing Cryptoqueen” features various music and sound design, witness testimonies, interviews, and sound bites. There’s even original music in this podcast extravaganza. Related Reading: How Bitcoin Phishing Scams Are Stealing Millions NewsBTC will produce companion pieces for each of “The Missing Cryptoqueen.” With summaries, quotes from the episode, and extra material from all over the web, this is the feature people didn’t know they needed. Have this window open as you listen to each episode, it’ll enhance the already phenomenal experience. You can download episodes directly at the BBC, or listen to “The Missing Cryptoqueen” through Apple, Spotify, or iVoox. About Episode One – Dr. Ruja This is the introductory episode, it presents Dr. Ruja Ignatova and the OneCoin world. We feel the size of the scam, we hear the people that fell for it and the true believers. It begins with Bitcoin and Satoshi Nakamoto’s story, goes to a OneCoin seminar in Mbarara, a town in Western Uganda, and ends with Dr. Ruja’s disappearance in October 2017. In “The Missing Cryptoqueen’s” first episode also shows us what a charismatic leader could do with bitcoin’s story and narrative. If Dr. Ruja Ignatova didn’t plagiarize, she at least was heavily inspired by Satoshi Nakamoto’s mystique and discourse. Using quotes from her speeches, we hear Dr. Ruja speaking about a rotten financial system and corrupt banking institutions. About the possibility of banking the unbanked and what that would do for the world. About bitcoin’s pizza day story and how that could happen to them. However, Dr. Ruja’s OneCoin was better than bitcoin. It was here to replace it, in fact. Whenever you hear that, run. That should’ve been the witnesses’ first warning. In episode one, we hear about the OneLife network. The social part of the scam. We hear from a UK victim who assisted to the webinars, from a OneLife employee and insider, and we listen to an African song about OneCoin. There’s emotion in all of their voices. And an open wound. Near the end, we hear about 2017 and Dr. Ruja’s disappearance from people that were there at the scene. What happened? So far, there are nine more episodes of BBC’s “The Missing Cryptoqueen.” Let’s cover them all. BTC price chart for 09/28/2022 on Bitstamp | Source: BTC/USD on TradingView.com Quotes From Ep. 01 – “Dr. Ruja” “Then, in late 2017, Dr. Ruja disappeared. One of Europe’s richest women, a woman who seemed destined to change the world had vanished.” “It was impossible not to be impressed by Dr. Ruja. She appeared on the front cover of prestigious business magazines, she has degrees from Oxford and Konstanz University and is fluent in several languages.” “Thousands of people were filling stadiums to hear Dr. Ruja talk, to buy OneCoin and join this financial revolution.” “But in October 2017, there was a big OneCoin event in Lisbon, Portugal and Dr. Ruja was scheduled to speak.” Extra Material And Episode Credits This guide’s extra material comes courtesy of the podcast series’s IMDB page. In the description, IMDB gives us a good overview of what to expect from “The Missing Cryptoqueen.” “Dr Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded millions to join her financial revolution, investing billions. Then she disappeared. Why? Jamie Bartlett spent months investigating how she did it for the Missing Cryptoqueen podcast, and trying to figure out where she’s hiding.” Related Reading: Apple Co-Founder Loses Lawsuit Against YouTube Over Crypto Giveaway Scams This 2019 clip with producer Georgia Catt also qualifies as a trailer for what’s to come: "She created this vision of herself using a bit of truth and a bit of fabrication, to create a convincing business genius…" Where is the missing cryptoqueen? @georgiajcatt, @JamieJBartlett & @TinaDaheley discuss on @BBCRadio4's #BeyondToday podcast 👉https://t.co/UMghdnRpP4 pic.twitter.com/pWTwAKEzKP — BBC Sounds (@BBCSounds) September 24, 2019 And finally, the episode’s credits: Presenter: Jamie Bartlett Producer: Georgia Catt Story consultant: Chris Berube Editor: Philip Sellars Original music and sound design: Phil Channell Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir You’re part of NewsBTC’s “The Missing Cryptoqueen’s” listening group by just reading these guides. Let’s explore Dr. Ruja Ignatova’s world together. Featured Image: “The Missing Cryptoqueen” logo from the BBC’s site | Charts by TradingView