Bitcoin has faced significant challenges in recent weeks, particularly in terms of its price recovering beyond the critical 200-day moving average. Currently, the cryptocurrency is caught in a precarious position. After attempting to rebound from the support level anchored at $60,000, recent market patterns suggest that Bitcoin could be on the brink of further declines.
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On October 7, the cryptocurrency market experienced a shocking and rapid decline in the value of Bitget’s native BGB token, which plummeted from $1.15 to $0.5344 within a mere ten minutes. Such extreme volatility created immediate alarm among traders and investors. The event unfolded around 02:58 UTC, with the token’s value suffering a staggering 56%
Scott Matherson has emerged as a leading voice in cryptocurrency journalism, with his insightful contributions at NewsBTC making him a key player in the crypto media landscape. With a background that encompasses diverse industries from banking to investment, Matherson possesses a unique perspective that allows him to navigate the complexities of the cryptocurrency world easily.
Despite recent price stagnation, the sentiment surrounding Cardano remains largely optimistic among crypto experts. Currently trading below the $1 threshold, the platform is viewed not as a declining asset, but rather as one poised for a significant surge. Analysts believe that Cardano could soon experience a breakout reminiscent of its performance during previous bull markets.
In the ever-evolving landscape of digital asset investments, recent metrics indicate a cautious sentiment among investors. Over the past week, investment products in digital assets experienced modest outflows amounting to $147 million. This development comes on the heels of unexpectedly robust economic data, which has tempered earlier speculations regarding substantial interest rate cuts. Such macroeconomic
In a significant progression for the digital asset landscape, the United Arab Emirates (UAE) has taken a decisive step by exempting cryptocurrency transactions from value-added tax (VAT). This anticipated amendment, effective from November 15, 2024, marks a pivotal shift in the adoption and acceptance of digital currencies within the region’s financial ecosystem. The change is
In a pivotal move, Binance has announced its plans to convert specific delisted cryptocurrency holdings into USDC by a designated deadline of April 28, 2025. This initiative primarily affects users holding assets in several cryptocurrencies that have recently been removed from the platform, including Tornado Cash (TORN) and OMG Network (OMG). The company has also
In a rapidly evolving financial environment, the European Union (EU) stands at a crossroads. With digital assets and distributed ledger technology (DLT) on the rise, there is a pressing need for Europe to transform its fragmented capital markets into a unified, efficient system. Piero Cipollone, a prominent member of the European Central Bank (ECB) Executive
The Hong Kong Securities and Futures Commission (SFC) is taking significant strides towards shaping a more regulated environment for cryptocurrency firms in the region. As reported by local media on October 7, the SFC intends to expand the number of licenses granted to crypto businesses by the end of the year, marking a pivotal moment
The cryptocurrency landscape is in a state of constant flux, and Ethereum (ETH) finds itself at a pivotal juncture as it trades roughly 11% below its recent local highs of about $2,730. The prevailing sentiment among investors leans toward optimism, bolstered by promising on-chain metrics that suggest a possible price rebound in the near future.
