However, the good times may stop rolling if the heavily shorted U.S. dollar, which has recently found a “double bottom” price floor against major fiat currencies, sees a short squeeze – a rally powered by an unwinding of bearish bets, as per Singapore-based options trading firm QCP Capital. Author: Omkar Godbole Source link
The West dominates the top 10 rankings of the most innovative economies as measured by the Global Innovation Index, including Switzerland, the United States, Sweden, the United Kingdom, the Netherlands, Germany, Finland, and Denmark. We would expect that innovative crypto projects would continue to originate from these locations. Author: James Rubin Source link
The Kingdom of Bhutan is bullish on Bitcoin (BTC). Following the revelation that the small Himalayan Kingdom of Bhutan has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations. Known for its focus on “Gross National Happiness” and picturesque landscapes, Bhutan has found ways to harness its immense hydroelectric potential, which accounts for 30% of its GDP. First reported in an exposé in local Bhutanese News followed by inquiries from Forbes, Bhutanese…
Bitcoin (BTC) narrowed volatility on April 30 as the weekly and monthly candle closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees BTC price upside capped at $32,500 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it loitered just above $29,000 throughout the weekend. After unsettled price action earlier in the week, Bitcoin returned to sideways trading, with markets witnessing an eerie calm despite the potential for volatility thanks to lower weekend liquidity. As such, traders were hopeful that no unwelcome surprises would greet the candle…
The largest cryptocurrency by market capitalization was recently trading at about $29,500, up roughly 2.2% over the past 24 hours. BTC topped $30,000 at one point, near its earlier week highs but still well off its April peak close to $31,000. Still, investors seem to have forgotten Wednesday’s dramatic seesawing when the crypto dipped to around $27,200 amid a mass liquidation of short and long positions and separate unfounded rumors of bitcoin sales – by the U.S. government and of crypto from failed exchange Mt. Gox – before rebounding. Author:…
BTC Tests $50K but New Web3 Crypto DeeLance Hit $500K in Days. Analytics Insight Author: Source link
The big story in crypto markets last week was that ether (ETH), turned lower, erasing all price gains notched during the weeks-long mini-rally that followed the seamless implementation on April 12 of the Ethereum blockchain’s highly anticipated Shanghai upgrade. Bitcoin (BTC) reversed course as well, losing its foothold above $30,000 and changing hands around $27,800 around press time. Author: James Rubin Source link
On April 3, 2023, the Dfinity Foundation, a development team behind the Internet Computer (ICP) network, announced the launch of a native ICP token called “chain-key bitcoin” or “ckBTC.” The bitcoin derivative is backed 1:1 with the leading cryptocurrency asset. On Monday, Dfinity detailed that the technology “builds on the protocol-level integration with the Bitcoin network.” Breaking Away from Custodians and Bridges: The Benefits of Chain-Key Bitcoin’s Smart Contract-Based System On Twitter, the Dfinity Foundation announced the full release of chain-key bitcoin, also known as ckBTC. “Proposals 115468, 115470 &…
Bitcoin (BTC) headed back to $28,000 on March 29 as a classic short squeeze took the market to five-day highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC liquidations mount as Bitcoin reverses Binance dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp. The abrupt uptick came courtesy of exchanges , where a band of shorts were “blown out” to remove resistance and allow higher levels to return. As noted by analyst Skew, these shorts were left over from Bitcoin’s prior moves, and were worth…
The largest cryptocurrency by market capitalization was recently trading at $23,481, roughly flat over the past 24 hours, but down from its highs a week ago over $25,000 – before surprisingly strong jobs and price data had markets increasingly contemplating the prospect of a 50 base point rate increase instead of 25 bps. Author: Sam Reynolds Source link