The Bitcoin market is currently in crisis as prominent analyst Crypto Rover warns of a liquidation event that could negatively impact short-term holders. As revealed by Rover, Bitcoin trading is in a significant phase of consolidation, and analysis suggests that more than $3 billion in short positions could be liquidated if Bitcoin rises again to a certain price. Bitcoin bears watch out for this price range According to Rover, the $71,600 area, a critical price mark, is where $3 billion of short selling would be liquidated if Bitcoin were to recover. Rover’s assessment is based on data collected by popular…
Author: Crypto Flexs
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. . . Samsung Electronics, a global leader in semiconductor technology, recently announced that it has secured a total of $6.4 billion in U.S. government funding to expand its chip manufacturing facility in Texas. America’s domestic chip production capacity will be greatly enhanced by major investments, particularly in sectors such as aerospace, defense, and automotive. The Chips and Science Act of 2022, legislation signed by President Joe Biden, provides funding for this expansion. The bill’s goal is to improve and revive the nation’s production of cutting-edge computer chips. Government support and private investment are expected to total more than $40…
Bitcoin price began another decline in the $67,000 range. BTC is in a downward trend and may soon revisit the $61,000 support zone. Bitcoin failed to break through the $67,000 resistance zone. The price is trading below $65,000 and the 100-hour simple moving average. On the hourly chart of the BTC/USD pair (data feed from Kraken), a break occurred below the rising channel supporting $64,900. Unless it breaks through the $65,000 resistance zone, the decline may widen. Bitcoin price recovery halts Bitcoin price attempted to recover above the $65,000 resistance zone. BTC rose above $66,200, but bears remained active near…
Binance-backed Trust Wallet cited “credible information” pointing to a high-risk attack vector that hackers could deploy via Apple iMessage. The self-managed cryptocurrency wallet provider said dark web hackers were targeting iPhone and iOS users via a zero-day exploit for Apple’s native Messenger. Trust Wallet’s warning suggested that the exploit conduit had been on the tech giant’s devices from the beginning. However, the startup did not specify who provided the information or whether users suffered cryptocurrency losses. Trust Wallet recommended turning off iMessage completely in Apple Settings to alleviate the issue, pending a code fix. At press time, the Silicon Valley…
Digital asset investment products suffered notable setbacks last week, with outflows reaching $126 million, according to CoinShares’ latest weekly report.Bitcoin outflows accounted for a significant portion of total net flows this week, accounting for 87%. James Butterfill, head of research at CoinShares, attributed this trend to investors’ cautious stance after the end of the market’s price momentum.He added that ETF/ETP trading activity has declined compared to the overall market, with total volume trading at just 31% last week. Despite this, trading volume per share increased slightly from $17 billion to $21 billion.Ethereum has been experiencing outflows for 5 consecutive weeks.Several…
Centralized cryptocurrency exchange OKX on Monday evening launched the public mainnet of X Layer, an Ethereum-based zero-knowledge layer 2 network leveraging the Polygon Chain Development Kit. “We envision the “In pursuing this vision, we are building an ecosystem that is as seamless and interoperable as possible.”X Layer, previously called “X1,” launched on testnet in November, with more than 50 decentralized applications deployed within a week. Web3 and DeFi apps, including The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap, are among those already leveraging layer 2 networks, according to a statement shared with The Block.X Layer allows users to deposit and…
In the ever-evolving world of cryptocurrency investment, Option 2 Trade (O2T) It is quickly emerging as a preferred choice over Dogecoin (DOGE) among seasoned cryptocurrency experts. With numerous technological advancements and a strong economic model, Option2Trade (O2T) is increasingly seen as a smart investment choice compared to the popular meme coin Dogecoin (DOGE). Rising Star: Option2Trade (O2T) Option 2 Trade (O2T) It distinguishes itself as a cutting-edge platform that integrates artificial intelligence and blockchain technology to provide traders with advanced tools for market analysis and decision-making. This has not only attracted the attention of a wide range of investors, but…
In February of this year, the MetaTrace team announced the launch of a $25 million Series A investment round. Today the team is pleased to announce that the project has found a strategic investment partner for further development and expansion. The Series A investment round has closed, and although the deal amount and fund name were not disclosed, MetaTrace is fully funded to launch an extensive marketing campaign in the CIS, Southeast Asia, and Latin American markets. As the team reports, their strategic goal is to become the most popular mobile game featuring cryptocurrency and blockchain technology by the end…
fortune jack, a leading cryptocurrency casino, announces the launch of its redesigned website. This major overhaul aims to take the online gambling experience to a new level and provide users with high levels of engagement, ease of use and access to a wide range of games.With the latest technological advancements and a user-friendly interface, FortuneJack sets a new standard for what players can expect from a cryptocurrency casino.FortuneJack’s redesign focused on improving the user experience, making it simpler and more intuitive for players to navigate the site. One of the standout features of the new design is the streamlined game…
To celebrate the historic fourth Bitcoin halving and usher in a new era of sound money, Bitcoin Magazine and Kraken are pleased to present the Bitcoin Halving Livestream. The event will bring together prominent voices in the Bitcoin space, including Barstool CEO Dave Portnoy, Strike CEO Jack Mallers, Bitcoin Magazine Institutional Director Dylan LeClair, and Ten31 Managing Partner Matt Odell.This halving event, expected to occur sometime between April 19, 2024, will occur as Bitcoin reaches block 840,000, marking the point at which Bitcoin’s relative supply falls below that of gold for the first time. Previous halvings have historically served as…