Bitcoin (BTC) has recovered sharply from its weekly low of $50,000, signaling aggressive buying at lower levels. This is a bullish signal, but veteran trader Peter Brandt thinks the selling is not over yet. Brandt said in a post on X that there is a 50% chance that Bitcoin will fall below $40,000.However, the Bitcoin bull-bear market cycle indicators that had been turning negative have turned bullish again. “Several Bitcoin on-chain cycle indicators that were on the borderline have now turned bullish again,” CryptoQuant founder and CEO Kiyoung Joo said in a post on X. Crypto Market Data Daily View.…
Author: Crypto Flexs
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Ethereum Layer 2 network Starknet (STRK) has been struggling since its token launch in February. This problem is one of the reasons why only 8% of STRK holders are making a profit. Despite the decline, it appears that cryptocurrency holders are determined to test the waters by avoiding selling. Meanwhile, this on-chain analysis reveals more. Starknet, hoping to reclaim lost property A few days ago, Starknet announced the successful launch of the Parallel Execution and Block Packing upgrades on Testnet. The upgrades, which aim to reduce gas fees and achieve 2-second block confirmation times, will go live on Mainnet on…
OKX CEO Star Xu today responded to public calls from users to refrain from using the exchange, reiterating that the exchange will terminate user accounts found to be trading with “sanctioned entities” such as Tornado Cash and Garantex.pee Wrote User accounts that deposit funds from or withdraw funds from OKX to sanctioned entities “will trigger compliance risk controls, resulting in account closure,” Xu said in a post. Xu cited Russian exchange Garantex and cryptocurrency mixer Tornado Cash as examples of sanctioned entities.Xu’s statement came after user Satoshi Friends made the announcement. Said On X, he told his followers that users…
Timothy Morano 09 Aug 2024 13:52 a16z crypto provides an in-depth guide to token rights design, issuance, and management, covering essential strategies and best practices. According to a16z Crypto, tokens are the cornerstone of web3 technology and represent a new digital primitive. As the industry evolves, there are numerous aspects and best practices that need to be carefully considered when it comes to token design, issuance, and rights management. Token Dos and Don’ts In this podcast episode featuring Eddy Lazzarin, Miles Jennings, and Robert Hackett, a16z crypto explores the fundamentals of token design and…
Bitcoin price has seen a move above $58,000 and $60,000. BTC is up more than 10% and is signaling further gains in the short term. Bitcoin showed significant upside above the $56,500 and $58,250 levels. The price is trading above $60,000 and the 100 hourly simple moving average. The hourly chart of the BTC/USD pair (data provided by Kraken) shows a bullish trend line forming with support at $60,000. The pair is likely to see further upside above the $62,500 resistance zone. Bitcoin price could extend upward trend Bitcoin price started a decent uptrend above the $55,500 resistance level. BTC…
WIF surged 21% on the weekly chart. Dogwifhat’s outstanding contracts increased by 51.5% over the past week. The cryptocurrency markets have experienced extreme volatility over the past two weeks. Most cryptocurrencies are recovering after the market crash a week ago. In this recovery, memecoins have taken the lead, with WIF leading the pack. Dogwifhat (WIF), a Solana-based memecoin, has outperformed other memecoins and posted significant gains. Dogwifhat leads the Mimecoin market WIF has shown significant upside, outpacing most meme coins on the weekly chart. First of all, SHIB has recorded 3.17% over the past 7 days, while DOGE has recorded…
Gary Tiu, executive director and head of regulatory affairs at Hong Kong-based crypto spot exchange OSL, said in a panel discussion at the Foresight 2024 conference on Sunday that crypto spot exchange-listed funds (ETFs) in Hong Kong face systemic hurdles due to a lack of incentives for ETFs in the market overall.“So in Hong Kong, especially for funds and structured products, there is usually a very rich layer of intermediaries between the issuer and the end investor: brokers, banks, private banks, retail banks,” Tiu said. “These intermediaries are making a lot of money by distributing financial products.”Thiew said this has…
Rebecca Moen 09 Aug 2024 14:11 The Hong Kong Monetary Authority (HKMA) has warned the public about a fraudulent mobile app linked to a Singapore bank. The Hong Kong Monetary Authority (HKMA) has issued a public warning about a fraudulent mobile application linked to Bank of Singapore Limited. According to the HKMA, the fake app has been reported to the regulator and an immediate warning has been issued to protect consumers. Details of the scam app The HKMA highlighted that fraudulent apps could potentially imitate legitimate banking applications to trick users into sharing sensitive…
Bitcoin (BTC) is close to completing a death cross, where the 50-day simple moving average (SMA) falls below the 200-day SMA. While death crosses are considered bearish, analyst Timothy Peterson wrote on X that Bitcoin has posted a median return of 18% in the two months following eight death crosses since 2015.Bitcoin whales also seem to be sensing the bullish outlook. Whales holding 10-1,000 bitcoins were aggressively buying on August 5 and August 6. However, the same cannot be said for spot Bitcoin ETF buyers who sold during those two days, according to Farside Investors data, which shows a net…
Bitcoin (BTC) is signaling that a third “local bottom” is coming in 2024 as key BTC price indicators show signs of growth.A recent study released on August 8 by on-chain analytics platform CryptoQuant shows a bullish move towards the Trading Golden Cross (NVT-GC) tool in network value.BTC Price “Cooling Off Too Much”Bitcoin was warned of another collapse this week on BTC/USD as the moving averages created a so-called “death cross.”But the long-term picture remains uncertain as other market indicators point to a continued rebound.One of them is NVT-GC, described by CryptoQuant as a volatility gauge similar to Bollinger Bands. NVT…