Tag Archives: btcusd

The United States Commodity and Futures Trading Commission (CFTC) is suing the CEO of the world’s largest cryptocurrency exchange Binance – Changpeng Zhao. As a result, the BTC price lost over $1400 in minutes. According to a CNBC report, CZ – the CEO of Binance – is being sued by the CFTC for allegedly violating trading regulations. The court filing stipulates that the exchange has taken a “calculated approach to solicit US customers in violation of federal regulations.” CZ...

After reaching the critical price area of $29-30K, Bitcoin’s bullish rally got rejected, and the price went back into the $27-28K consolidation range. Over the next short-term, the $30K mark will likely serve as the most major resistance. This range was the bottom recorded in mid-2021 before the rally to the current Bitcoin’s ATH at $69K recorded in November 2021. Technical Analysis By Shayan The Daily Chart After forming a pullback to the 100-day moving average line at...

The trading volumes have gone down during the weekend, resulting in BTC failing to produce any significant moves in either direction. The altcoins have also stalled on a daily scale, while XRP has emerged as one of the best performers for the past seven days. Bitcoin Boring at $27.5K A lot happened in the cryptocurrency industry in the past few weeks, and bitcoin has somewhat expectedly taken a break now. The asset exploded from under $20,000 to over $28,000 during the US...

Bitcoin jumped above $29,000 yesterday to chart a new nine-month high, but that was short-lived and the asset retraced hard in the following hours. Most altcoins are deep in the red as well, with SOL, APT, LDO, OKB, and others dropping by over 5%. Bitcoin Fails at $29K The primary cryptocurrency’s climb had culminated at jumping to $28,800 mid-week ahead of the Federal Reserve’s decision on whether to continue to increase the interest rates. As many local banks struggled due...

The leading stock exchange – Nasdaq Inc. – could make another push toward the cryptocurrency sector by launching custody services by the end of the second quarter of this year.  Fidelity and Bank of New York Mellon are other financial behemoths that offer such options. Ira Auerbach – Senior Vice President and Head of Nasdaq Digital Assets – said in a recent interview that the global exchange group will aim to obtain all necessary approvals and form the technical...

The cryptocurrency space rejoiced recently when several large US banks halted services, and the FDIC, as well as other regulators, had to intervene to stop the contagion. However, the crisis expanded to Europe this week, with two of the most prominent names facing significant problems. Credit Suisse was acquired by the largest Swiss bank – UBS, for almost $3.3 billion, which was more than 60% less than what the former was worth days ago. This propelled another leg up in terms...

Bitcoin’s impulsive rally seems to have temporarily halted, and the price will likely enter a correction phase before the next leg up. Overall, Bitcoin is facing significant resistance at the $30K level, which hasn’t been tested yet. Technical Analysis By Shayan The Daily Chart After forming a pullback to the 61.8% level of the Fibonacci entrancement level at $19.6K, the price initiated a massive rally with a current high above $28K. However, the bulls couldn’t reach the...

Mike McGlone anticipates a Bitcoin Supercycle due to the asset’s raving performance despite economic circumstances. Commodity strategist Mike McGlone believes that a Bitcoin (BTC) Supercycle is on the horizon amid the leading crypto’s 2023 price upswing. According to the Bloomberg Intelligence senior commodity strategist, BTC’s recent performance compared to gold proves his claim. The prominent digital currency has outperformed gold almost tenfold this year and appears set to continue...

Some crypto industry insiders believe that BTC price can surge to its previous all-time high of $69,000 and even beyond to $100,000. The world’s largest cryptocurrency Bitcoin (BTC) has already delivered a solid performance this year so far outperforming all other asset classes by a considerable margin. Currently, Bitcoin is trading at $27,708 with a market cap of $535 billion. At this current price, the BTC price is up already 70% from January 1, 2023. The fact that this Bitcoin...

The United States Bankruptcy Court for the Southern District of Texas ordered Core Scientific to transfer approximately $20.8 million worth of mining equipment to the energy infrastructure firm – Priority Power.  The entities had a dispute over two mining facilities located in Texas that were supposed to supply Core Scientific with 1,000 megawatts of electricity.  The Judge’s Decision The judge involved in Core Scientific’s bankruptcy case – David Jones – ordered the company...