Bitcoin Trading Near Last Line of Defense: Can Bulls Save the Day?

Bitcoin failed to climb above the $9,300 resistance and extended its decline against the US Dollar. BTC is currently showing bearish signs and it might struggle to stay above the $9,000 support. Bitcoin declined below the $9,120 support and traded close to the $9,000 support. The price is currently recovering, but it is facing a lot of hurdles near $9,150. There is a crucial bearish trend line forming with resistance near $9,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $9,150…

Teller Raises $1M in Seed Funding to Bring Credit Scores to DeFi

Decentralized lending startup Teller has raised $1 million in a seed funding round led by Framework Ventures to build the first algorithmic credit risk protocol for decentralized finance (DeFi). The solution will interact with legacy credit scoring systems, like Equifax, to provide aggregated data into the DeFi lending markets. Parafi Capital and Maven11 Capital also participated in the investment round. “We need solutions that offer seamless transitions between traditional finance and DeFi,” Framework Ventures co-founder, Michael Anderson said. “Credit scores are the mainstay of the lending world, and interoperability with…

Atari Partners with WAX For NFTs, Joins Board Alongside Shatner and Marvel

Atari has partnered with WAX blockchain to bring their video games onto the blockchain in the form of Non-Fungible Tokens (NFTs). The brief announcement on Twitter followed news earlier this week that Atari CEO Frederic Chesnais had joined the WAX Advisory Board, joining Google, Microsoft, Marvel Games, Magic Leap, and William Shatner as the other members. “We’re excited to finally unveil our latest partnership with @WAX_io! With this collaboration, Atari is bringing its legendary #videogames further into the vastly expanding world of #blockchain and #NFTs.” Atari is really into blockchain …

Riot Blockchain Boosts Its Hash Rate By 45% With 1,000 New Antminers

Publicly-listed Bitcoin (BTC) mining firm Riot Blockchain expects to increase its hash rate by 45% after receiving 1,000 Bitmain S19 Pro Antminers. The batch of miners comprises the first of three tranches it ordered of Bitmain’s latest generation of miners, with the firm having recently purchased a total 2,000 S19 Pro and 1,040 S19 miners. The 1,000 S19 Pro units are expected to be operational in the next two days at a facility owned by fellow mining firm Coinmint in Massena New York. Riot currently operates 4,000 S17 Pro Antminers.…

Lightning Startup Zap Raises $3.5M From Investors Including Morgan Creek

Zap, the Lightning startup behind a non-custodial Bitcoin wallet, has raised $3.5 million in a seed round in April. As reported by Forbes on July 15, previously undiscovered filings by the U.S. Securities and Exchanges Commission revealed Zap raised $3.5 million in the April seed round with investors including Green Oaks Capital and Morgan Creek Digital, co-founded by Bitcoin bull Anthony “Pomp” Pompliano. What is Zap? A non-custodial wallet, Zap stands out from others by enabling users to instantly purchase Bitcoin (BTC) using a U.S. bank account via the Lightning…

Bitcoin Price, Stocks, Set to Correct If Fed Fails to Extend Stimulus

A recent newsletter to Delphi Digital clients delved into the economic aftermath of the coronavirus pandemic and how the current fiscal stimulus package from the U.S. Federal Reserve could be propping up equities markets and the entire economy.   According to the firm, COVID-19-related government spending has breached the $1.1 trillion mark, bringing June’s monthly budget deficit to $864 billion, the worst in U.S. history. This has pushed the country’s deficit to $2.7 trillion for the first half of 2020.  As the Federal Reserve continues to print money to bolster the…

Despite Rumors, Piers Morgan’s ‘Announcement’ Isn’t Bitcoin-Related

British journalist and TV personality, Piers Morgan, made his “big announcement” on Twitter on July 16 —  but despite social media rumors about a potential Bitcoin endorsement it wasn’t crypto-related  Instead Morgan said he’ll be launching a book related to a “liberal war” and COVID-19 called Wake Up. He’d earlier addressed the rumours he’d start providing Bitcoin advice (BTC) in the following tweet: UPDATE: No, I’m not Ghislaine Maxwell’s secret husband, nor am I transitioning, providing Bitcoin advice, quitting GMB, going vegan or replacing Jofra Archer in the Test match.All…

It’s “Make or Break” For Bitcoin as Bearish S&P 500 Drop Hammers BTC

After holding $9,200 for days on end, Bitcoin has recently begun to break down. The cryptocurrency trades at $9,100 as of this article’s writing, having lost that short-term support. Bitcoin’s ongoing weakness is seemingly related to bearish price action in global stock markets, including the S&P 500 index. Following a -4.5% performance during the Shanghai Composite’s Thursday trading session that came in spite of positive economic data, North American stocks took a dive. As of this article’s writing, the S&P 500 is down by 0.5% while the Nasdaq 100 has taken…

Bitcoin and the S&P 500 are Moving in Lockstep, and It’s Bad for BTC

Bitcoin has been forming a striking correlation to the S&P 500 and the rest of the stock market throughout the past few months. This correlation has only grown in recent weeks, and today’s slide in the equities market has led the benchmark cryptocurrency down to a crucial support level Analysts are now pointing to this correlation as being a guiding light for BTC’s mid-term outlook. This may not bode well for the crypto, as one billionaire investor is now warning investors against jumping into the stock market. He notes that…

Coinbase, Binance, BitGo May Know Hackers ID

The hackers who conducted the massive Twitter hijacking on July 15 do not appear to be sophisticated Bitcoin (BTC) users, as they left trails leading to and from major exchanges that presumably hold the keys to their identities. Address bc1qxy summary. Source: Crystal Blockchain. The Bitcoin address that hackers used to solicit illicit donations is bc1qxy2kgdygjrsqtzq2n0yrf2493p83kkfjhx0wlh. A couple of hours into the hack, the perpetrators started moving Bitcoin into other addresses. The Bitcoin trail they are leaving behind suggests that they are not terribly sophisticated when it comes to blockchain…