The Bitcoin (BTC) price is under selling pressure and is expected to drop by more than 9% this week. Bitcoin has been making lower highs over the past few months, which is a negative sign. This means that the bulls have a responsibility to defend support.The market is bracing for a major catalyst in the form of a September rate cut by the U.S. Federal Reserve. The FedWatch Tool shows a 30% chance of a 50bp rate cut on September 18. Some believe that if that happens, risk assets, including Bitcoin, could rally.Crypto Market Data Daily View. Source: Coin360However, Bitcoin’s…
Author: Crypto Flexs
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The biggest gainers this week were Helium and UNUS SED LEO. SATS, Polygon, and dYdX were the biggest losers this week. Last week, most cryptocurrencies in the top 100 moved relatively slowly, with only a few assets showing gains. Only Helium and UNUS SED LEO showed positive performance in this category over the past seven days. Polygon, on the other hand, struggled considerably despite its name change, eventually becoming one of the week’s biggest losers. Biggest Winner Helium (HNT) Analysis on Helium (HNT) shows that the price started the week down more than 3%, suggesting that the previous week’s bearish…
Lawrence Jengar 30 Aug 2024 19:43 The Hong Kong Monetary Authority has fined WeChat Pay Hong Kong Limited HK$875,000 for breaching anti-money laundering regulations. The Hong Kong Monetary Authority (HKMA) has announced disciplinary action against WeChat Pay Hong Kong Limited (WPHK) for breaching the Payment Systems and Stored Value Facilities Ordinance (PSSVFO). According to the HKMA, WPHK will have to pay a monetary penalty of HK$875,000 for failing to meet regulatory standards. Details of the violation The HKMA’s investigation covered the period from 25 August 2016 to 24 October 2021 and found that WPHK…
This article is also available in Spanish. Ethereum (ETH) has been trading between $2,300 and $2,800 on a daily basis since early August. Over the past three days, the price has struggled to break above $2,600, raising concerns among analysts and investors. Related Materials This performance has been disappointing, especially when compared to Bitcoin’s strong performance this year. Key data from Farside Investors shows that interest in Ethereum ETFs is declining, adding to the cautious sentiment surrounding ETH. This decline in interest could indicate broader concerns about Ethereum’s future performance. With ETH facing resistance at the $2,600 level, the market…
We round up the weekly news from across Asia, highlighting the most important industry trends. Manhunt ends in South Korea as suspect caught with $15,000 new face According to a report citing a press conference on August 29, South Korean police have arrested 14 people involved in a cryptocurrency mining scam that netted 16 billion won (about $12.1 million). Police have identified the mastermind behind the scheme only as “Mr. A,” a common practice for suspects before they are formally convicted. Mr. A is accused of defrauding victims by promising them 18% monthly returns if they invested in a fake…
Iris Coleman 30 Aug 2024 20:09 The Hong Kong Mortgage Corporation (HKMC) has released its 2024 Social Bond Allocation Update and Impact Report, detailing the allocation and social impact of bonds issued in 2022 and 2023. According to the Hong Kong Monetary Authority, Hong Kong Mortgage Corporation (HKMC) has released its 2024 Social Bond Distribution Update and Impact Report. The report provides a comprehensive overview of the net proceeds distribution of the two social bonds issued in 2022 and 2023, and the social impact as of 30 June 2024. Key allocations and social impacts…
Elon Musk hints at Dogecoin relaunch at Tesla The proposal comes after the tech billionaire and his company won a class-action lawsuit. The lawsuit accuses them of manipulating the price of DOGE. Tesla co-founder and CEO Elon Musk has hinted at the possibility of Dogecoin (DOGE) returning as a payment option for the automaker’s products. The electric car maker began accepting DOGE payments for some of its products on its website in January 2022. However, the payment option mysteriously disappeared from the website after some investors accused Musk and his company of manipulating cryptocurrency prices. The lawsuit seeks about $258…
Bitcoin (BTC) fell more than 2% on September 1, as the monthly close turned “over-the-counter” and unfavorable for the bulls.BTC/USD 1-hour chart. Source: TradingViewBTC prices traditionally show a downward trend in September, when they are “red”.According to data from Cointelegraph Markets Pro and TradingView, the BTC price weakness has pushed the price down to $57,230 on Bitstamp, the most recent level since August 16.The monthly close was dismal as liquidity conditions tightened mid-week, leaving buyers unable to hedge further losses later.According to data from monitoring resource CoinGlass, Bitcoin lost 8.6% in August, compared to its average gain of 1.75%. The…
The cryptocurrency industry has always had its fair share of speculators, for better or worse. It’s no wonder then that two of the most popular platforms in crypto (Memecoin launchpad Pump.fun and decentralized prediction market Polymarket) are built on speculation.But oddly enough, these platforms can be seen as the inverse of each other. On Pump.fun, users speculate about memecoins that have no intrinsic value proposition other than branding and community value, meaning it’s hard to predict which coins will break through the noise and attract fans. On Polymarket, users are encouraged to use all the information at their disposal when…
Renowned cryptocurrency analyst Altcoin Sherpa believes that despite its astronomical gains so far this year, one popular meme coin has room to rise further. The anonymous trader told his 221,900 followers on social media platform X that POPCAT, a Solana (SOL)-based meme token, could sustain its bullish momentum after bouncing off a key level around $0.64. “POPCAT still looks pretty strong right now and is a great S/R (support/resistance) retest. If it breaks back towards the highs, this will be a leading category for memes and CAT betas.” Source: Altcoin Sherpa/X As of this writing, Popcat is trading at $0.59,…