Crypto

Bitcoin (BTC) is witnessing a tough tussle between the bulls and the bears near the 200-day simple moving average, which is considered as an important level by institutional investors attempting to decide whether the asset is bullish or bearish. Along with this, crypto investors are also watching the formation of a golden cross in Bitcoin. If this bullish setup completes, it will signal a trend in favor of the bulls. For the time being, investors continue to focus on select altcoins that have continued their northward journey. Crypto market data daily view. Source: Coin360 On the fundamental front, Bitcoin reached another milestone as miners produced the 700,000th block on Sep. 11. Bitcoin was trading near $8,000 when the 600,000th block was reached on Oct. 18, 2019. Reaching this mil...

Institutions have been at the forefront of the crypto bull run seen since Q4 2020, but now retail investors have been taking the center stage as well. Bitcoin (BTC) is getting more popular all around the world and it officially became a legal tender in El Salvador on Sept. 7, making it a landmark event for retail and sovereign adoption of the asset. However, it turned out to be a chaotic event for the premier cryptocurrency token as the country celebrated “Bitcoin Day.” Soon after the day began, BTC’s price suffered a flash crash of over $8,000 to bottom out at $42,900. Even though this flash crash coincided with this major adoption event for the token, its significance for retail consumers and investors far outweighs the short-term price impact seen in the token’s price. Interesting devel...

Avalanche (AVAX) looks poised to hit $80 as per a classic technical pattern after hitting a new high of over $65 on Sept. 12. Dubbed as “Bull Flag,” the structure emerges as a brief sideways/downward trend following a strong price move higher. As a result, Bull Flags tend to look like downward sloping channels, represented by two parallel trendlines that trap the price action. Additionally, the market’s underlying trade volume dries up as the prices move lower, indicating weakness in the downtrend. Therefore, Bulls Flags typically resolve following a break above their upper trendlines, with prices pushing as high as the previous uptrend’s height, i.e. Flagpole. AVAX’s price action since Aug. 17 has apprehensively led to the creation of a Bull Flag pattern. AVA...

Crypto lending products have come under scrutiny from security regulators in some jurisdictions across the United States. While these enforcement actions have come from agencies at the state level, there have been indications that the Securities and Exchange Commission (SEC) was also set to go on the offensive. Thus, it was perhaps unsurprising to see the SEC ask Coinbase to halt its proposed crypto lending program titled “Lend.” Coinbase CEO Brian Armstrong took to Twitter to express dissatisfaction with the SEC’s behavior, stating that the Commission was not forthcoming with useful guidance despite public assurances to the contrary. Critics of the SEC’s enforcement actions directed at the U.S. crypto space warn that America risks falling behind in the emerging digital economy if suitable...

Bitcoin (BTC) hit problems at $46,000 on Sept. 12 after a “strong bullish divergence” on lower timeframes met with resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Higher lows creep in for BTC/USD Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reject sharply after hitting local highs of $46,280 on Bitstamp. The move continues a ranging weekend, over which the pair failed to recover from Friday’s sell-off. $45,500 is an important level for Bitcoin in the form of its 50-day moving average, a level which on Sunday continued to hold as support. As noted by trader and analyst Rekt Capital, lower timeframes showed increasing strength on the day, with a “strong bullish divergence” characterizing the 4-hour chart. At the time of writing, however, no new l...

Argo Blockchain has secured another loan agreement from Galaxy Digital LP with the mining firm’s Bitcoin (BTC) as collateral. According to an announcement by the London Stock Exchange on Friday, the new Bitcoin-backed loan agreement is to the tune of 18.05 million pounds (about $25 million). As previously reported by Cointelegraph, Argo entered into a prior BTC-backed loan agreement with Galaxy Digital for $20 million back in June. The United Kingdom-based Bitcoin miner will reportedly roll up both loans into one for a combined sum of $45 million. As part of the agreement, Argo will utilize the fresh capital influx to support its expansion efforts in Texas. In March, the company purchased a 320-acre land plot in Texas that will reportedly host a 200-megawatt Bitcoin mining facility. By sec...

Bitcoin (BTC) available on exchanges is about to hit its lowest levels ever, the latest data shows. As noted by Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, exchange reserves have returned to all-time lows last seen in early May. Time for another Bitcoin “sell-side liquidity crisis?” As of Thursday, the latest date for which figures are available, there was 2.399 million BTC available across major exchanges. May’s low measured 2.390 million. Bitcoin traders have thus reversed a deposit trend that ensued during the mid-May price upheaval, which points to a clear return to an investment-focused — not speculation-focused — mentality. “Hope to see another sell-side liquidity crisis on Bitcoin,” Ki added in comments. Bitcoin exchange reserves vs. BTC/USD chart. Source: CryptoQua...

The pandemic has put hundreds of thousands of businesses out of action, saw others fold and decimated great swathes of the economy.  But, crypto thrived in this distributed environment. As the world clamped down and everyone was forced to decentralize, the crypto world shone. Perhaps crypto, born of a crisis, is most at home in one. Working from home is where we all have spent most of this crisis. Gaurang Tovekar is the CEO and co-founder at Indorse, a blockchain-powered enterprise SaaS platform. He says the company was perfectly placed to ride out the upheaval as the entire team has never been in the same physical location since the company’s inception. “Although the pandemic accelerated remote work and the adoption of decentralization in the workforce globally on an unprecedented sc...

A few months ago, the crypto industry was shaken up by the news of the mass exodus of miners from China. At the end of May 2021, it became known that the Chinese authorities were going to ban Bitcoin (BTC) mining, bringing the already existing regulatory pressure on miners to a breaking point. The list of banned operations includes purchasing cryptocurrencies, as well as any related investment activities, crypto trading and exchange. The People’s Bank of China had held substantive consultations with banks and payment systems and then the largest Chinese financial institutions were told to stop speculative trading — in particular, with BTC. As a result, Bitcoin’s hash rate showed one of the largest drops in its history. China’s share of BTC mining dropped 55% since the beginning of the year...

Bitcoin (BTC) needs to retain two key moving averages in order to stay bullish, but is failing, fresh analysis shows. In its latest market update on Sept. 10, trading platform Decentrader warned that bulls do not have the upper hand much above current price levels. A “golden cross” like any other? Bitcoin has drifted lower into the weekend, at the time of writing sitting near $45,500. This is below the significant 200-day moving average (MA) and barely above the 50-day MA. For Decentrader’s Filbfilb, these would need to be reclaimed in order to fuel continuation of the bull run. “For Bitcoin to remain bullish, these two moving averages will need to be maintained, with any price action lower being intraweek – a weekly close below the 50 DMA would not be attractive, particularly ...

Decentralized lending protocol Pledge has secured $3 million in investments for its cross-chain ecosystem focused on long-term financing, highlighting continued innovation in the DeFi sector.  The investment round was led by DHVC, a Palo Alto-based venture capital firm, with additional participation from U.C. Berkeley professor Gary LaBlanc and Stanford University community members Ray Wong and Torsten Wendl. The raise will support Pledge’s mission to become a premier crypto-asset lending platform that eventually paves the way for tokenized real-world financial assets. Pledge was created by a group of blockchain-focused researchers at Stanford University, including professor David Tse, Nicole Chang, Ray Wong and Torsten Wendl. Aforementioned professor Gary LaBlanc also contribut...