Bitcoin (BTC) has begun its “Uptober” comeback, hitting its highest weekly close in nearly five months and returning to $69,000.Expectations of a retest of all-time highs in the third week of October are driving the bulls, but an equally healthy sideways move could come first.Unemployment claims and the Fed Beige Book headline this week’s macro data releases, while risk assets ignore US inflation signals.Opinions are divided on whether BTC/USD has been able to permanently abandon its seven-month downward trend.As Bitcoin derivatives become more active, leverage is causing some analysts headaches.There is still no mainstream consumer interest in Bitcoin.Bitcoin rebounded to…
Author: Crypto Flexs
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As of press time, dYdX was the second best coin by profit. About $1 million worth of DYDX was liquidated on Binance at $1.18. dYdX (DYDX) experienced an incredible breakout, rising over 38% in the last 24 hours. This strong rise makes it the second best-performing cryptocurrency among the top 100 cryptocurrencies by market capitalization on CoinMarketCap. With the protocol’s fees distributed primarily to stakers in USDC, dYdX continues to gain attention as a cryptocurrency to accumulate, especially as the market is expected to remain strong in the final quarter of the year. dYdX Price Action and Forecast DYDX, which…
Bitcoin’s hash rate has hit an all-time high, showing that the security of the world’s first blockchain network is strengthening.The Bitcoin network hash rate (the sum of all computing power securing the Bitcoin network) hit a new all-time high of 769.8 exahashes per second (EH/s) on October 21.According to BitInfoCharts data, hashrate has been on a steady rise since 2021. Increasing hashrate has a broad correlation with the development of mining hardware such as application-specific integrated circuits (ASICs).Bitcoin network hash rate, historical chart. Source: BitInfoChartsThe Bitcoin hash rate is a sign that the network is becoming more secure, but it…
“We are evaluating ways to offer Legal & General Investment Management Liquidity funds in a tokenized format,” said Ed Wicks, head of global trading at Legal & General Investment Management (LGIM), when asked about the company’s plans via email. “There is,” he said.
Tony Kim October 16, 2024 10:00 The Hong Kong Monetary Authority has announced improvements to its SME Financial Guarantee Scheme, providing extended loan guarantee periods and new repayment options to support businesses. The Hong Kong Monetary Authority (HKMA) has unveiled significant enhancements to its small and medium enterprise (SME) financial protection scheme, as announced in the CEO’s 2024 policy speech. These changes are designed to provide relief to leveraged companies facing economic restructuring challenges. Key measures introduced According to the HKMA, businesses borrowing under the SME Financing Guarantee Scheme will now benefit from the…
Bitcoin (BTC) is up about 9% this week, indicating strong buying momentum. The upward move faces resistance near $69,000, but bulls are in no hurry to exit their positions. This means buyers are expecting the rally to expand further.Trading firm QCP Capital told subscribers of its Telegram channel that rising U.S. stock markets and a weakening trend in the Japanese yen are likely to increase sentiment about risk leading into the U.S. election. This will “push risk assets higher and support the Uptober narrative,” the company added.Daily view of cryptocurrency market data. source: Coin360Another positive impact for Bitcoin is that…
Felix Pinkston October 16, 2024 10:40 Binance has improved its spot and margin services by introducing the BNSOL/USDT trading pair and a trading bot. This update aims to improve user experience and expand trading options. Binance, a leading cryptocurrency exchange, announced the addition of a new trading pair, BNSOL/USDT, to its platform. According to Binance, trading for this pair will begin at 08:00 (UTC) on October 17, 2024. This move is part of Binance’s ongoing efforts to expand trading selection and improve user experience in the spot market. Introduction to trading bots In addition…
join us telegram A channel to stay up to date on breaking news coverage Bitcoin has achieved a major milestone in the cryptocurrency market, with its market capitalization surpassing its closest competitor, Ethereum, by more than $1 trillion. As of this report, Bitcoin is trading at $68,366, with a total market capitalization of approximately $1.35 trillion. On the other hand, the price of Ethereum is $2,647, giving it a market capitalization of approximately $318.68 billion. This means that Bitcoin is now ahead of Ethereum at $1.03 trillion, more than four times Ethereum’s market cap. According to James Check, principal analyst…
Yorg Healer October 16, 2024 11:02 Binance will support the rebranding from KLAY to KAIA starting October 28, 2024 with significant changes to the trading pairs and token list. Binance, a leading cryptocurrency exchange, announced that it supports rebranding the KLAY token to KAIA, as officially announced on its website. This transition includes several changes to trading pairs, deposits, and withdrawals, and is scheduled to take effect on October 28, 2024. KLAY trading pair delisting At 03:00 UTC on October 28, 2024, Binance will delist all existing KLAY spot trading pairs, including KLAY/BTC and…
A widely respected cryptocurrency strategist believes one little-known Ethereum (ETH) challenger will hit his massive price target this cycle. Pseudonym trader Rager tells his 199,100 followers on social media platform X that he is bullish on layer 1 protocol Fantom (FTM). Rager shares a chart that suggests FTM will hit its target price of $3.31 around April. “Are you late to the market? People who say that aren’t looking at FTM charts. And yes, I think that’s a real goal for the next six months.” Source: Rager/X As of this writing, FTM is trading at $0.71, which represents a potential…