The price of Bitcoin seems to have settled back into a choppy market condition, dimming any hopes of a quick breakout to new highs. Despite this setback, there is still a glimmer of hope that the current bull cycle is not yet over, even though Bitcoin is taking its time to regain its upward momentum.
Bitcoin has been facing challenges in breaking above the $72,983 resistance level, resulting in a continuous drop in its price. Despite still trading above the 1-day Simple Moving Average (SMA), the rejection has caused the cryptocurrency to fall from $71,942 to $66,785, moving below the SMA in both the 1-hour and the 4-hour chart. This
Coinbase recently filed a closing brief with the US Court of Appeals for the Third Circuit, taking on the Securities and Exchange Commission’s (SEC) denial of its rulemaking petition. The crux of the matter lies in the SEC’s order, which seemingly dismissed Coinbase’s claim that current SEC rules are unworkable for digital asset firms. In
The potential launch of US spot Ethereum ETFs in June has been a topic of much speculation within the cryptocurrency community. Bloomberg ETF analyst Eric Balchunas suggested that there is a “legit possibility” of spot Ethereum ETFs being launched by the end of June. However, he also mentioned that an earlier mid-June launch would be
Recently, the U.S. District Court for the District of Utah made a significant decision regarding the Securities and Exchange Commission’s (SEC) case against Digital Licensing, also known as Debt Box. The court not only dismissed the case but also ordered the SEC to pay approximately $1.8 million in attorney and receivership fees. This ruling has
The year 2021 has witnessed a surge in the launch of meme coins, many of which have raised concerns about their legitimacy and ties to celebrities. The launch of JENNER on the Solana blockchain, endorsed by American celebrity Caitlyn Jenner, has particularly drawn attention to the risks associated with trading meme coins. Despite doubts from
Blockchain analytics firm Nansen recently uncovered DBS Bank, a major banking institution in Singapore, as a prominent player in the cryptocurrency market. The firm identified a crypto wallet linked to DBS Bank holding a substantial amount of Ether (ETH), totaling 173,753 coins valued at around $650 million based on current market prices. This revelation highlights
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has made headlines with its successful recovery of almost all of its customers’ digital assets after the bankruptcy of its crypto lending arm. This recovery has been hailed as one of the most successful in the industry to date. Gemini announced that its customers in
Senator Cynthia Lummis has been a vocal advocate for pro-crypto legislation and believes that the crypto market will play a significant role in the US economy. She emphasizes the importance of not squandering the opportunity that digital assets present. Lummis, along with other pro-crypto lawmakers, has worked tirelessly to educate their colleagues in Congress about
The enigmatic world of Bitcoin continues to captivate investors with its price fluctuations. A recent analysis by Cryptorphic, a prominent crypto analyst, suggests that the future might be brighter than recent dips might indicate. Cryptorphic’s prediction hinges on a historical phenomenon known as the halving. Every four years, the number of Bitcoins rewarded for mining
