Droppers of btc

2023-08-18 17:54:02 Bitcoin, Ethereum Technical Analysis: BTC Plummets Below $26,000 on Reports Elon Musk’s Spacex Liquidated Bitcoin Holdings

Bitcoin (BTC) bears pushed the cryptocurrency to a two-month low on Friday, following news that Spacex had liquidated all of its holdings BTC. After peaking at $28,525.11 during Thursday’s session, BTC/USD plunged to a bottom at $25,409.11 late last night.

This was the weakest point that bitcoin had fallen to since June 16, when price was near a breakout below $25,000.

Bitcoin chart by TradingView

From the chart, it appears that the sell-off came as the 14-day relative strength index (RSI) fell deep into oversold territory. The index is now tracking at 20.10, which is the lowest level it has hit since January 2022, which ironically was when Tesla began to sell off its own holdings in bitcoin.

Price has somewhat rebounded from earlier lows, and is now trading at $26,341.67.

Ethereum chart by TradingView

Like with BTC above, today’s sell-off has moved the RSI into a bear zone, with a current reading of 21.30. This could work in the favor of bulls looking to buy the dip, and to a degree already has, with ETH now trading at $1,678.05.

In addition to bitcoin, ethereum (ETH) also moved significantly lower following the news, slipping below $1,600 in the process.

ETH/USD dropped to an intraday low of $1,551.71 on Friday, down nearly $200.00 from Thursday’s peak. This is the weakest reading for ethereum since March 12, when price was trading below the $1,459 level. Open / Comment

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2023-08-15 19:44:01 From Crypto Custodian to Court: Prime Trust Files for Bankruptcy Protection

In the wake of financial upheavals and regulatory hurdles, Prime Trust, a digital currency custodian, has formally sought Chapter 11 bankruptcy protection. This move closely follows the appointment of John Guedry as the company’s overseer, bolstered by a designated committee to steer the restructuring process.

Despite the chaos, Prime Trust pledges to operate with transparency, prioritizing its stakeholders’ best interests.

As the gravity of Prime Trust’s monetary woes intensified, the Nevada Financial Institutions Division stepped in, signaling its plan to dismantle Prime Trust and seize its holdings.

Upcoming on Prime Trust’s agenda is the submission of multiple proposals to the Bankruptcy Court. These proposals are designed to refine the assessment of all viable approaches, potentially encompassing the sale of company assets and ongoing operations.

These deliberations emerge from Prime Trust’s recent ordeals, notably its ties with crypto entities like Stably, which encountered disruptions due to their affiliations with the beleaguered custodian. Open / Comment

2023-08-12 18:43:02 Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound on Saturday, as Markets Consolidate Following Recent Decline

Bitcoin was back in the green to start the weekend, after bulls rejected a breakout below $29,000 during Friday’s session. The cryptocurrency continues to hover around a key support level, without either bulls or bears taking control. Ethereum was also marginally higher.

Bitcoin (BTC) returned to the green on Saturday, as traders of the cryptocurrency rejected a breakout of a key price level.

Following a low of $29,253.52 on Friday, BTC/USD rose to an intraday peak of $29,517.77 earlier in today’s session.

The move comes as the world’s largest cryptocurrency by market cap began to consolidate, following a recent move above $30,000.

Bitcoin surged earlier this week, as markets reacted to Moody’s downgrading the credit rating of several U.S. banks.

Today’s consolidation occurred just as the relative strength index (RSI) flatlined around a support point near 49.00. As of writing, the index is now tracking at a reading of 48.70, with earlier gains in BTC somewhat fading. Open / Comment

2023-08-09 19:13:02 Bitstamp Delists AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for US Customers

Trading will soon be halted for several popular cryptocurrencies on the Bitstamp exchange for users in the United States. Starting August 29, 2023, the exchange will suspend trading for AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for U.S. customers, canceling all existing orders for those assets. After this deadline, U.S.-based Bitstamp users will no longer be able to trade these crypto assets on the platform.

Bitstamp says the decision comes as part of a continuous evaluation of its crypto offerings, taking into account the changing regulatory environment in the United States.

The exchange recommended users execute any desired buy or sell orders for the affected assets before the August 29 deadline to ensure a smooth transition during the trading halt.

Despite delisting those assets for U.S. customers, Bitstamp noted it will continue offering up to 30 available cryptocurrencies to trade on its platform. Open / Comment

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2023-08-06 19:57:03 Indian Analyst: World War III Already Started, BRICS Could Merge With SCO

The president of a New Delhi-based think tank believes that World War III has already begun. He also anticipates the BRICS economic bloc (Brazil, Russia, India, China, and South Africa) merging with the Shanghai Cooperation Organization (SCO). “A single merged organization will be much more clearer, stronger and grow into very meaningful pole,” he described.

“Both BRICS and SCO are initially founded by China and Russia. Many big picture goals of both organizations are same. It is necessary for both organizations to have very different roadmap in future. Otherwise, I have said many times that it is now time to consider merging of the SCO and BRICS into a single organization,” the Indian analyst told Russian news outlet Tass on Friday.

Discussing the BRICS economic bloc’s current position globally, Sachdev emphasized: “BRICS will have to create its own space and find a way to be as effective or more effective than other international organizations.”

The think tank president also believes that World War III has already begun, stating:

In my view, we are already in the middle of World War III or the First World War of the 21st century. Open / Comment

2023-08-03 19:21:02 GHO and FDUSD Stablecoins See Massive Supply Growth in Recent Debut

In a recent turn of events, the cryptocurrency world has been introduced to two stablecoins anchored to the U.S. dollar — Aave’s gho (GHO) and First Digital’s stablecoin FDUSD. These dollar-tied tokens have rapidly gained momentum, witnessing substantial growth in market capitalization soon after their debut.

In mid-July, the decentralized finance (defi) lending protocol Aave approved a governance proposal and unveiled the platform’s gho (GHO) stablecoin. On July 17, 2023, there were 2,510,269 GHO tokens in circulation, and now there are more than 11.25 million TO. This implies that GHO’s supply expanded by over 348% within the last 16 days.

The 24-hour trading volume of GHO has hovered around $1.52 million, and Balancer’s Vault accommodates 59.2255% of the entire GHO supply. The present supply and market capitalization of GHO position it as the 31st largest stablecoin in August 2023.

While a 348% supply surge is impressive, FDUSD has exhibited an even more remarkable ascent since its introduction. On July 26, 2023, etherscan stats revealed that FDUSD’s supply was approximately 1,114,126 just a week ago.

An estimated 96.0563% of FDUSD’s supply is held in a wallet named “Binance 14,” while 1.4325% resides in another wallet called “Binance 15.” Open / Comment

2023-07-31 19:44:01 Biggest Movers: SHIB Stays Close to Recent 2-Month High on Monday

Shiba inu remained close to a two-month high to start the week, as sentiment in the meme coin remained mostly bullish on Monday. This comes despite the global cryptocurrency market cap mostly consolidating in today’s session. Bitcoin cash was another notable exception, as the price rose by over 4%.

Shiba inu (SHIB) was close to a two-month high on Monday, as momentum in the meme coin remained bullish.

Following a low of $0.000008171 on Sunday, SHIB/USD jumped to an intraday high of $0.000008688 earlier today. This has pushed SHIB close to its highest point since May 29, when price peaked at $0.000008888.

Monday’s move came as the relative strength index (RSI) bounced from a recent support point at the 60.00 mark.

Another notable gainer on Monday was bitcoin cash (BCH), which rose by as much as 4% to start the week.

BCH/USD peaked at $258.30 earlier in today’s session, following on from Sunday’s low at $243.34. The move saw the cryptocurrency continue to trade near yesterday’s two-week high at the $266.29 point.

Earlier gains have since slipped however, as price strength collided with a resistance level at 56.00. Currently the RSI is at a reading of 53.23, and appears to be heading for a floor around the 50.00 zone.

A destination of $240.00 may be the target for bears should this decline continue. Open / Comment

2023-07-28 20:28:01 US House Financial Services Committee Passes Stablecoin Legislation ‘After a Few Fireworks’

The U.S. House Financial Services Committee has passed Chairman Patrick McHenry’s Clarity for Payment Stablecoins Act with bipartisan support. McHenry said committee members, unlike the White House, understood the urgency and importance of providing clarity for payment stablecoins. Sheila Warren, the CEO of the Crypto Council for Innovation, described the bill’s passage as the “first steps toward a legislative foundation for stablecoins in the U.S.”

After holding negotiations for fifteen months, the U.S. House Financial Services Committee passed the Clarity for Payment Stablecoins Act on July 27 with bipartisan support.

Confirmation of the bill’s passage came after an eventful day which at one point saw McHenry blast the White House for frustrating the committee’s hopes of reaching a bipartisan agreement.

The Republican also commended the New York Department of Financial Services superintendent Adrienne Harris for what he described as “her invaluable contributions.”

Following the bill’s passage, Sheila Warren, the CEO of the Crypto Council for Innovation, described this as the “first steps toward a legislative foundation for stablecoins in the U.S.”

The CEO, like fellow crypto proponents who have been calling on the U.S. to take the lead in establishing clear rules for the industry, also highlighted how a regulatory regime can foster innovation and as well as “provide critical protections for consumers.” Open / Comment