The recent decline in the price of Ethereum (ETH) to around $3,500 has sparked concerns among investors and traders. However, despite the current dip, analysts remain optimistic about the future of the second-largest digital asset in terms of market capitalization. Metrics such as negative exchange netflow and a low Relative Strength Index (RSI) indicate a
Crypto
In recent weeks, the native token of Ethena, ENA, has been experiencing significant selling pressure. This has caused the price of ENA to plummet to $0.73, marking its lowest price level since May 20th. The sudden drop in price has resulted in substantial losses for ENA stakers. According to data from Lookonchain, the largest ENA
Terraform Labs, a defunct crypto firm, has finally reached a settlement in its legal battle with the Securities and Exchange Commission (SEC). The SEC alleged that Terraform and its co-founder, Do Kwon, engaged in fraudulent activities related to the defunct Terra blockchain. The settlement requires Terraform to pay a staggering $4.47 billion fine, comprising of
The cryptocurrency market has been experiencing a surge recently, particularly following the release of the latest US Consumer Price Index (CPI) data. The surge has been reflected in the prices of Bitcoin and Ethereum, both of which posted gains in the past 24 hours. Bitcoin saw a 3.4% increase, while Ethereum saw a 2.43% increase.
With risk assets in the financial sector currently appearing vulnerable, experts warn that economic factors could push bitcoin into a “slow bleed environment.” Last week, U.S. authorities released stronger-than-expected jobs data, causing a dent in assets like bitcoin. However, BTC remained resilient, with the help of continued inflows into the U.S. spot Bitcoin exchange-traded funds
The US spot Bitcoin ETFs, including GBTC, started June with a bang, collectively purchasing 25,729 BTC in the first week. This was a significant increase compared to the previous months, with data showing that in January, these ETFs acquired 33,456 BTC, followed by 116,561 BTC in February and 65,456 in March. However, April saw an
Bitcoin has recently seen a period of dull price action, with minor fluctuations over the weekend. A brief uptick toward $70,000 was observed before the asset returned to familiar levels. Despite this, Bitcoin had a strong week in terms of ETF inflows, with impressive streaks of 19 days of consecutive positive flows. These inflows resulted
In the past market cycle, altcoin and Bitcoin pairs experienced a capitulation in June 2019, right before the United States Federal Reserve made the decision to cut interest rates. Interestingly, the pattern on the charts for this cycle appears to be quite similar. It is possible that we may witness a final flush out of
10x Research CEO Markus Thielen has expressed optimism about Bitcoin’s future, predicting a new all-time high. According to Thielen, a “head and shoulders” chart pattern is on the verge of completion, potentially leading to a rally towards $83,000 in the near future. Despite a retreat to just over $69,000 on June 7, Thielen remains bullish
Core Scientific, a key player in North America’s digital infrastructure industry, recently announced a strategic partnership with CoreWeave, an AI Hyperscaler. This partnership involves a series of long-term contracts extending over 12 years, with Core Scientific set to supply approximately 200 MW of infrastructure to support CoreWeave’s high-performance computing (HPC) operations. This move marks a
