On June 13th, Bitcoin (BTC) returned above $26,000 as it tried to reclaim support after the daily close. Despite ongoing legal action in the United States and macroeconomic data releases, Bitcoin remained in a narrow range throughout the week. Traders, including Crypto Tony, warned of the potential risks of deep trades while noting the upside
Analysis
The total market capitalization of cryptocurrencies has been in a downward trend for the past eight weeks, reaching its lowest level in over two months at $1.06 trillion. The decline was mainly driven by several altcoins that plunged over 15%, including BNB, Cardano, Solana, Polygon, and Polkadot. This article explores the current market situation and
On-chain data shows that Bitcoin miners are offloading their holdings, with miners sending a significant amount of coins to exchanges. This trend could be due to reduced earnings from a cooldown in Ordinals activity and the mining difficulty and hash rate reaching an all-time high. Glassnode, an on-chain analytics firm, reported that Bitcoin miners’ inflows
On June 10, Bitcoin (BTC) reached its lowest point in three months, with BTC/USD hitting $25,483, down over $1,200 from the previous day’s high. This occurred as altcoins were hit particularly hard by United States regulatory pressure. The delisting of several cryptocurrencies that accompanied U.S. legal action against major exchanges caused major altcoins to react
According to the latest market update from trading firm QCP Capital, crypto investors should brace themselves for macro-fueled price action involving Bitcoin (BTC) and Ether (ETH), but not due to toothless US regulators. Even if the US Securities and Exchange Commission (SEC) continues to go after crypto, it will not cause the mass price depreciation
Real-world asset (RWA) protocols have become increasingly popular in decentralized finance (DeFi) circles. These protocols allow entities to tokenize and trade a variety of real-world assets, including stocks, government bonds, real estate, and commodities. Referred to as asset tokenization protocols, they offer certain advantages over traditional finance (TradFi) by making smart contracts transparent and enabling
According to a recent report from on-chain analytics firm Glassnode, investors are increasingly directing their capital towards low-risk assets such as stablecoins and Bitcoin. The report suggests that technicals indicate altcoins are currently at a critical turning point, poised to experience either a positive or negative breakout. Glassnode’s analysis of Uniswap and futures trading volumes
Bitcoin’s price has lost steam due to the failed retest of the $27,400 resistance on June 6, indicating that investors are less confident after the regulatory actions against Binance and Coinbase by the United States Securities and Exchange Commission (SEC). Both exchanges are being sued on multiple counts, including failure to register as licensed brokers
Bitcoin (BTC) managed to recover some of its lost ground after the June 6 Wall Street opening despite new legal action from United States regulators. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD has been rebounding and reached $26,250 on Bitstamp. It had earlier dipped to almost three-month lows of $25,350 after news
The United States Securities and Exchange Commission (SEC) has sued cryptocurrency exchanges Binance and Coinbase, leading to a retest of Ether’s price at $1,780. However, Ether bulls should be relieved that the cryptocurrency did not break below the 67-day support. The SEC’s move is a double-edged sword for Ethereum (ETH), as indicated by analysts on