The Bitcoin price rose 5.5% on August 6, but struggled to hold above $57,000 despite positive momentum in traditional financial markets. On August 7, the Euronext 100 index rose 2.2%, while oil prices surged 2.8%. This suggests that the Bitcoin (BTC) price correction is due to market-specific factors rather than global economic conditions, with derivatives indicators indicating a lack of enthusiasm.Spot Bitcoin ETF and ‘Mr. 100’ Fund Outflows Spark ConfusionSome analysts say Bitcoin’s weakness is due to whales reducing their positions after a long period of accumulation, including a prominent group known as “Mr. 100.”source: BitcoinatorAccording to Bitcoinator data, the…
Author: Crypto Flexs
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Ethereum price has started a recovery wave above the $2,350 resistance zone. ETH can gain bullish momentum if it breaks above the $2,680 resistance zone. Ethereum recovered above the $2,350 and $2,420 levels. The price is trading below $2,640 and the 100 hourly simple moving average. According to data provided by Kraken, there is a support line formed at $2,440 on the hourly chart of ETH/USD, with a connected bullish trend line forming. The pair could see a steady uptrend if it breaks through the $2,680 resistance zone. Ethereum Price Aims Higher Ethereum price has started a recovery wave after…
Ethereum price has started a recovery wave above the $2,350 resistance zone. ETH can gain bullish momentum if it breaks above the $2,680 resistance zone. Ethereum recovered above the $2,350 and $2,420 levels. The price is trading below $2,640 and the 100 hourly simple moving average. According to data provided by Kraken, there is a support line formed at $2,440 on the hourly chart of ETH/USD, with a connected bullish trend line forming. The pair could see a steady uptrend if it breaks through the $2,680 resistance zone. Aiming for a higher Ethereum price Ethereum price has started a recovery…
Law • August 7, 2024 4:20 PM EDT Posted 1 minute earlier In ~ Ripple will pay $125 million in fines as part of a years-long lawsuit with the U.S. Securities and Exchange Commission, according to court documents.“The SEC’s motion to enter a final judgment and relief is granted in part and denied in part,” the filing, signed by Judge Analisa Torres, reads. “The court enters a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150.”In July, Ripple CEO Brad Garlinghouse said he expected the outstanding legal issues to be resolved…
The recent decline in Bitcoin (BTC) on August 5 has wiped out several leveraged trades. Trading firm QCP Capital believes that Bitcoin and Ether (ETH) may have bottomed out in the short term due to panic selling. “It may be time to think about accumulating BTC and ETH spot,” QCP told subscribers to its Telegram channel.However, some other analysts have a different view. According to Markus Thielen, head of research at 10x Research, a good entry point for Bitcoin could be in the low 40,000s, where a major rally is likely to be attempted. Likewise, David Gokhstein, founder of Gokhstein…
Rebecca Moen 08:48 Aug 7, 2024 The Market Corruption Tribunal has found the former chairman and CEO of China Forestry Corporation guilty of false disclosure and insider trading. The Market Fraud Tribunal has found the former chairman and former CEO of China Forestry Holdings Company Limited guilty of market fraud. According to apps.sfc.hk, the tribunal concluded that both executives were responsible for false or misleading information disclosure and insider trading. Misdisclosure and insider trading The court found that the former chairman and CEO intentionally provided false or misleading information to the market. This misconduct…
Chinese investors are finding innovative ways to tap into the digital assets markets and participate in some of the year’s most profitable trends despite Beijing’s ban on cryptocurrency trading. The government has banned crypto amid a blaze of publicity numerous times, including a 2013 ban on banks dealing in crypto, a 2017 ban on initial coin offerings and exchanges, followed by a trading and mining ban in 2021. Despite this, accessing cryptocurrencies in the mainland isn’t that difficult, pseudonymous investor Lowell tells Magazine. Lowell is a recent university graduate who describes herself as a full-time cryptocurrency trader. She had the…
TL;DR (concentrated takeaways)Crypto key management involves understanding and protecting your crypto wallet keys.Key management also includes protecting the various mechanisms (like passwords) that can provide access to your crypto wallet keys.Consider all of the accounts and mechanisms that are used to gain access to your keys both in your wallet(s) and in all backup locations. In the event of a possible wallet compromise, sweep your crypto to a new wallet. Practice this so that you understand the process and could do it quickly. In case you need to restore your wallet on a new device, you should carefully practice restoring…
Former US President Donald Trump’s two sons have made announcements on social media over the past 24 hours about cryptocurrencies and decentralized finance (DeFi).”“We’re about to shake up the crypto world with something big. Decentralized finance is the future. Don’t get left behind,” Donald Trump Jr. posted early Wednesday morning on Twitter, including the hashtag X. “BeDeFiant.” The tweet followed a post Tuesday from Trump’s other son, Eric Trump. “I’m really into crypto/DeFi,” he wrote. “Stay tuned for the big announcement.”The only clue to the announcement was Zach’s apparent connection to Steve Witkoff, a real estate mogul who is friends…
Terryl Dickey Aug 7, 2024 09:45 CoinGecko reports that the COVID-19 crash was far worse than the 2024 sell-off, making it the worst downturn in global cryptocurrency market history. According to recent research by CoinGecko, the Covid-19 crash on March 13, 2020 remains the most severe global cryptocurrency market correction in the past decade. The market saw a dramatic -39.6% drop, with the total cryptocurrency market capitalization plummeting from $223.74 billion to $135.14 billion in a single day. Comparing Crypto Corrections in 2020 and 2024 In stark contrast, the largest cryptocurrency market selloff in…