Bitcoin (BTC) closed above $57,000 for the week of July 7 as markets recovered from a “massive bearish divergence.”BTC/USD 1-hour chart. Source: TradingViewTraders See ‘Positive Signals’ in BTC Price Daily CloseAccording to data provided by Cointelegraph Markets Pro and TradingView, BTC price action is consolidating in a range that is about 8% above the weekly low of $53,500.This price occurred after the market closed on July 5th and represents the lowest level for BTC/USD since late February.However, despite the “after-hours” weekend trading, Bitcoin bulls managed to recover some of the lost ground, leaving the lows as an exception as of…
Author: Crypto Flexs
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Aayush Jindal is a financial market guru with over 15 years of experience in Forex and Cryptocurrency trading. Known for his exceptional ability to provide technical analysis, Aayush is a trusted advisor and chief market expert to investors worldwide, guiding them through the complex landscape of modern finance with his sharp insights and insightful chart analysis. From an early age, Aayush showed a natural talent for deciphering complex systems and unraveling patterns. Driven by his insatiable curiosity to understand market dynamics, he embarked on a journey to become one of the most respected figures in the Forex and Cryptocurrency trading…
The Celo Foundation has announced the successful launch of the Layer-2 testnet Dango, developed by core contributor cLabs. According to the Celo Foundation, this development represents a significant milestone in the evolution of the Celo blockchain ecosystem. Transition to Layer 2 The transition to Dango, originally proposed at EthCC 2023, involves forking the Alfajores testnet. This move will allow ecosystem developers to begin migrating their projects to a new Layer-2 blockchain designed for fast, low-cost payments worldwide. All previous data on Alfajores, including smart contracts, accounts, and balances, will be preserved and carried over during…
Bitcoin Falls Changes Market SentimentBitcoin is on the verge of a significant market shift as it plunges below the psychological $60,000 level, with a further drop to $50,000 possible. This prediction comes from 10x Research, which attributes the downtrend to a combination of declining buying and accelerating selling. On July 4, the Bitcoin price fell sharply from $60,000 to $57,000. 10x Research analyst Markus Thielen noted that signs of an overbought market had been evident since early June, suggesting a necessary correction. The break of the $60,000 support level is a significant event that indicates a significant change in market…
Ethereum (ETH), the leading smart contract platform, generates significantly more revenue from annual fees than any other blockchain. According to new data from cryptocurrency tracking site Lookonchain, the top altcoin earns $2.728 billion in annual fees, which is more than five times that of its closest competitor, Tron (TRX), which earns $459.39 million in annual fees. Ethereum also gained more than twice as much as Bitcoin (BTC), the largest cryptocurrency by market cap, which gained $1.3 billion over the same period. Source: Lookonchain/X Other top fee-generating chains analyzed by Lookonchain include smart contract platform Solana (SOL) with $241.29 million in…
The U.S. House of Representatives is set to reconsider a bill that aims to overturn a controversial Securities and Exchange Commission (SEC) directive that critics say would prevent cryptocurrency companies from working with banks. House Majority Leader Steve Scalise has scheduled a reconsideration of the bill, which President Joe Biden vetoed in May, for July 9 or later. .@SECGov The SAB 121 resolution will return to the House floor next week, the majority leader said. “The bills that could be considered include:Veto message accompanying HJ Res. 109 – Rules for vetoing Congress under Title 5, Chapter 8 of the United…
According to blog.bitfinex.com, Bitfinex has announced the release of version 6.21.0 of its mobile app, which brings a series of overall improvements, new features, and several important fixes. New features and improvements The latest update brings a notable feature: support for save/load chart options. This improvement aims to improve the user experience by allowing users to easily save and load chart settings. Additionally, the update includes several improvements, such as adding token icons for AIOZ, ASI, ATH, BLAST, and ZKX. Android users will also benefit from an improved webview with scrolling support. Important Fixes This…
Justin Sun, founder of Tron, a blockchain that enables smart contracts, announced that his team is working on a gas-free transaction solution for stablecoins. This means that stablecoin transfer fees will be free for users, and issuers will have the opportunity to pay for them. The service is expected to be operational in Q4 and (…)
Activity in the spot market did not match expectations of weakness in the derivatives markets. Open contracts have increased and price increases are likely to continue. Altcoins including Avalanche (AVAX) have been able to maintain their recent uptrend after a price crash a few days ago. However, AMBCrypto found that traders in the market have decided to bet in the opposite direction. At the time of writing, AVAX’s long/short ratio was 0.88, which is evidence of this sentiment. The long/short ratio acts as a barometer of investor expectations. To derive the result, you need to divide the number of long…
Cats in the Dog World (MEW) is a cryptocurrency project that stands out in the crowded Solana ecosystem’s MEW ecosystem by adopting a unique cat-themed narrative. Launched on the Solana blockchain on March 25, 2024, MEW aims to challenge the dominance of dog-themed coins like Dogecoin (DOGE) and Shiba Inu (SHIB). The project combines a strategic burn mechanism with intentional airdrops to build value, community, and scarcity. According to blog.bitfinex.com, MEW has gained significant attention within hours of its launch, reaching $150 million in trading value and quickly gaining traction in the Solana ecosystem. Strategic…