Dollar traders have kept a close eye on a potentially bullish “inverse head-and-shoulders” pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin’s (BTC) upside case, especially as the flagship cryptocurrency struggles to break out of its current $30,000-35,000 trading range. Three troughs, one price ceiling
Reports from South Africa suggest that tax authorities have plugged a loophole on the online tax filing system that enabled crypto arbitrage traders to make several purchases on overseas cryptocurrency platforms using just one approval. As a consequence of these tweaks, crypto arbitrage traders are now forced to make a new application each they need
Bitcoin (BTC) is on the verge of closing another week that saw the price dip closer to $30,000 but the same bearish observation cannot be made for all altcoins. On Friday, several smaller-cap altcoins managed to shake off the bearish assault and post-double-digit gains before traditional markets closed for the weekend. Data from Cointelegraph Markets
Authorities in Malaysia destroyed more than $1.2 million worth of Bitcoin mining rigs after they were confiscated for operating illegally. In a video posted today from local news outlet DayakDaily, police in the city of Miri on the island of Borneo and the Sarawak Energy company arranged for a steamroller to run over 1,069 Bitcoin
Bitcoin (BTC) is witnessing a tough battle between the bulls and the bears near $31,000, which makes it an important level to watch out for. Data from Glassnode shows that the $31,000 to $34,300 zone has seen strong interest from buyers and sellers as 9.93% of the Bitcoin supply has moved in this zone. The
A common saying in the investing world is “The trend is your friend,” a phrase that points to the idea that the majority of the time, sticking with the prevailing market trend will produce positive results. Some of the common metrics used to identify market trends include: technical analysis, which involves studying price charts to
Payments giants Visa and Mastercard say they are monitoring Binance’s regulatory compliance developments as more regulators come after the global crypto exchange for operating in their countries without authorization. Visa, Mastercard Monitoring Binance’s Regulatory Troubles Visa and Mastercard have not severed ties with cryptocurrency exchange Binance despite rising regulatory scrutiny. The two payments giants have
Stablecoin usage lost steam amid the recent crypto market downturn. From peaking at nearly $2 billion on May 19, the daily transaction volume has fallen off its 2021 average by about 60%. The significant drop begs the question about stablecoin activity in the current market environment. Unsurprisingly, the two cryptocurrencies that remain in a tight
Bitcoin (BTC) dropped to its “final support zone” above $31,000 on July 15 as a low grind downward brought fresh predictions of a BTC price crash. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance debacle spreads as $32,000 falls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting fresh local lows of $31,550 on Thursday.
Bitcoin (BTC) passed $32,000 later on July 16 as positive reactions over Bank of America’s (BoA) Bitcoin futures go-ahead continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin nears $32,300 point of interest Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising 1.4% on the day to hit new local highs of $32,150 on Bitstamp.
A major cryptocurrency and blockchain association in Russia is launching a project to bring global crypto mining operations to the country amid a Chinese crypto mining crackdown. The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, or RACIB, announced an initiative aimed at transferring global computing resources for crypto mining to the Russian Federation. More
Brian Armstrong, a co-founder and CEO of Nasdaq-listed cryptocurrency exchange Coinbase, took to Twitter to respond to a recent attack on crypto by Dogecoin (DOGE) co-creator Jackson Palmer. In a Twitter thread on Thursday, Armstrong pointed out some of the biggest benefits of cryptocurrencies like Bitcoin (BTC), stressing that crypto is “simply providing an alternative
Bitcoin (BTC) continued to bounce off $31,000 support during July 16 as fresh data reinforced the importance of current price levels. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No trip to $42,000? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing but so far not breaking through $31,000 on Friday. A late surge to
Binance’s regulatory troubles continue with Lithuania being the latest country to issue a warning about the cryptocurrency exchange. Lithuania’s announcement came one day after Italy issued a similar warning. Lithuania Warns Binance Lithuania’s central bank announced Friday that it has issued a warning to Binance UAB about its unlicensed investment services provided in Lithuania. The
While Islamic scholars have long wrestled with the question of whether cryptocurrency is halal, what if it’s really fiat that isn’t permissible? Islam has strict rules around finance, and it historically defines currency as commodities with intrinsic value — gold, silver, or salt, among others. Waseem Mamlouk, from the DeFi platform Nimbus, argues that government-issued
Much attention has been paid to the global, geopolitical implications of China’s rapid and pioneering development of its digital yuan, also provisionally known as e-CNY. Yet in a new white paper published by the Working Group on E-CNY Research and Development of the People’s Bank of China (PBoC), the institution gave a more domestic-focused and