Market Analysis

Ethereum crashed by 94% in 2018 — Will history repeat with ETH price bottoming at $375?

Ethereum’s native token Ether (ETH) is showing signs of bottoming out as ETH price bounced off a key support zone. Notably, ETH price is now holding above the key support level of the 200-week simple moving average (SMA) near $1,196.  The 200-week SMA support seems purely psychological, partly due to its ability to serve as bottom […]

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Market Analysis

‘Too early’ to say Bitcoin price has reclaimed key bear market support — Analysis

BTC price action is back above the 200-week moving average, but the Fed may still sour the mood. Click here for the the original source (post)

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Market Analysis

Binance.US Faces Class-Action Suit From Terra Investors

Key Takeaways Terra investors have filed a lawsuit against Binance.US, complaining that the exchange misrepresented the UST stablecoin. The investors have complained that Binance.US represented the stablecoin as a safe investment and erroneously claimed that it was backed by fiat currency. Binance.US also allegedly failed to comply with regulations and securities laws, though the company […]

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Market Analysis

Bitcoin price falls below its ‘realized price’ but is it time to buy the dip?

On June 13, cryptocurrency prices plunged deeper into bear market territory after Bitcoin (BTC) sliced through its current trading range and briefly touched $22,600, its lowest level se since December 2020. According to BTC historical data, the market has now reached valuation metrics that show the price is severely oversold and perhaps near a bottom. […]

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Market Analysis

NFT Market Suffers in Crypto Meltdown

The crypto bear market is hitting top-tier NFT collections hard. Key Takeaways The NFT market is crashing alongside Bitcoin and Ethereum. An increase in wETH trades on OpenSea suggests owners of dominant NFT collections such as Bored Ape Yacht Club may have sold their assets in panic. The decline in the dollar value of ETH […]

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Market Analysis

Bitcoin derivatives data shows no ‘bottom’ in sight as traders avoid leveraged long positions

Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This shows that traders are demanding higher rates to hold their debt instruments and expect inflation to remain a persistent challenge. Louis S. […]

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Market Analysis

BlockFi Cuts 20% of Workforce Amid Crypto Downturn

The move is part of the company’s strategy to survive a potential multi-year bear market. Key Takeaways BlockFi is firing 20% of its employees due to dramatic market conditions. The company is focusing on profitability ahead of what it acknowledges could be a prolonged global recession. Other crypto companies such Coinbase have recently made cuts […]

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Market Analysis

After Celsius, Binance Temporarily Halts Bitcoin Withdrawals

Key Takeaways Binance has temporarily suspended Bitcoin withdrawals on the Bitcoin network. The exchange said that the halt was due to an “earlier batch of transactions getting stuck from low transaction fees,” and that the issue would be solved promptly. The timing of the incident has raised concerns within the Bitcoin community that Binance might […]

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Market Analysis

Old Bitcoin mining rigs risk ‘shutdown’ after BTC price slips under $24K

Ray ID: 71abeefd4127b89a • 2022-06-13 15:41:59 UTC Bad gateway Amsterdam Cloudflare Working cointelegraph.com Host Error What happened? The web server reported a bad gateway error. What can I do? Please try again in a few minutes. Thank you for your feedback! Click here for the the original source (post)

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Market Analysis

Celsius Has Paused Customer Withdrawals

Celsius has paused all customer withdrawals, swaps, and transfers citing “extreme market conditions.” Key Takeaways Celsius has frozen customer withdrawals, swaps, and transfers due to “extreme market conditions.” The development comes amid rumors that the crypto lender is unable to continue offering enhanced yields or make its customers whole due to the recent decline in […]

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