Author: cryptorecaps.com
Bitcoin has pulled back 22% from its all-time high in March. Now, on-chain intelligence company Glassnode suggests the market could be “hammering out a local bottom formation.” In a new report, the firm suggests that the market is currently still in a “euphoria” phase—a period in a bull market where unrealized profits surpass more than half of the market capitalization of Bitcoin. When investors are in this state, the market should expect a correction. With Bitcoin crashing to $57,000 at the time of writing, many investors believe we’re currently experiencing such a correction. But how much further will this drawback go? Glassnode said…
Artificial intelligence can rapidly scan the massive Bitcoin blockchain for signs of illegal activity, a capability that could dramatically strengthen the work of law enforcement in combatting money laundering, a new report explains. Blockchain analysis firm Elliptic on Wednesday published a study with the MIT-IBM Watson AI Lab that analyzed Bitcoin transactions using a deep learning AI model to detect money laundering patterns and identify wallets used in crimes. Bitcoin is renowned for using a decentralized public ledger—a core facet of the technology that also made the study possible, Elliptic said. Elliptic and MIT-IBM used AI to separate legal and illicit transactions into…
Investing.com– Bitcoin price fell further on Wednesday, briefly slipping below key support levels as anticipation of a Federal Reserve meeting kept traders averse to speculative assets such as cryptocurrencies. Recent data showing sustained outflows from Bitcoin investment products, particularly exchange-traded funds (ETFs), also weighed on sentiment, while the launch of new spot crypto ETFs in Hong Kong offered little cheer. Bitcoin fell sharply in the past 24 hours, hitting as low as $56,500 by 06:34 ET (10:35 GMT). Fed anticipation sees traders prefer dollar over Bitcoin Bitcoin’s losses coincided with a sharp surge in the dollar on Tuesday, which saw the greenback come…
Bitcoin price is down 18.6% from its record high, and many analysts expect BTC to drop lower. Bitcoin BTC $59,819 price has declined by more than 8% in a week and 12% over the last 30 days after setting a new record high of around $73,835 on March 14. Data from Cointelegraph Markets Pro and TradingView shows that the BTC price fell from a high of $64,727 on April 30, dropping 6.5% to reach an intraday low of $60,505. BTC/USD daily chart. Source: TradingView Bitcoin’s price drop coincides with a lackluster response to the market debut of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong…
As Bitcoin keeps plunging, some whales have been purchasing the world’s leading cryptocurrency on the dip. Analytics X account @OnchainDataNerd has reported that several hours ago, four anonymous cryptocurrency wallets purchased an impressive 2,603 BTC – that is the equivalent of approximately $166.2 million. The Bitcoin was purchased on the largest US crypto exchange Coinbase (NASDAQ:COIN) and withdrawn. The analytics account pointed out a curious, though inexplicable, nuance – after the withdrawal three of these wallets have the same balance of 762.8 BTC. That amount of Bitcoin is worth roughly $48.77 million. Today, Bitcoin has demonstrated a plunge of 6.18%, falling…
Ether’s price drop is driven by weak reactions to new crypto ETFs in Hong Kong and an anticipated hawkish tilt from the Federal Reserve. On April 30, the price of Ether ETH $2,960 dropped roughly 6% to around $3,024, its lowest level in over a week. The cryptocurrency’s drop mirrored similar downside moves elsewhere in the crypto market, with the net capitalization falling by approximately 4%. ETH/USD versus TOTAL crypto market capitalization daily performance chart. Source: TradingView The primary factors contributing to the decline in Ether’s price include the lackluster response to the newly launched crypto-linked spot exchange-traded funds (ETFs)…
Bitcoin prices are in retreat again during Asian trading on Monday morning and analysts are predicting more pain ahead as the correction deepens. Bitcoin has fallen back to more than 15% down from its mid-March peak, dropping to a ten-day low of under $62,000 on Monday morning. On April 28, an analyst feed ‘Stockmoney Lizards’ noted that the halving was over, but bitcoin continues to print red candles. They said that we are not at the end of the bull market but added a gloomy prediction that what we see is a correction that could send prices back to the $50Ks before…
The week ahead will certainly not be a quiet one with a major economic report, a big Federal Reserve meeting, and a flood of earnings reports. The US economic calendar is brimming with activity this week, with the Federal Reserve reacting to rising PCE, PPI, and CPI inflation data. Moreover, the central bank’s decision and upcoming economic data releases will provide insights into the inflation battle and the broader US economic trajectory, shaping market sentiment for the months ahead. Additionally, a raft of earnings reports from more than 20% of the S&P 500 will be coming in this week. Economic Events to…
Most larger-cap alts have nosedived by somewhere between 5%-8% in a day. Bitcoin’s weekend was relatively positive as the asset climbed above $64,000 yesterday, but the start of the business week has brought more pain, with a new decline to under $62,000. The altcoins have followed suit with even more severe losses, and the total crypto market cap has decreased by around $60 billion. BTC’s Latest Nosedive Last week started on a more positive note as bitcoin jumped from $65,000 to $67,000 by Tuesday. After failing to overcome the latter on its first attempt, BTC returned and tried a few…
Uniswap navigates SEC scrutiny while reinforcing its role as a stabilizing force in the DeFi sector. DeFi may be “in the crosshairs” of the SEC, as Forbes magazine recently stated after the SEC action against Uniswap. Still, the matter raises valid concerns that DeFi simply must address for the sake of its future. According to Uniswap, the Wells notice suggests potential enforcement action, alleged acting both as an unregistered securities broker and an unregistered securities exchange. The SEC alleges that certain tokens traded on Uniswap, such as those issued through ICOs, constitute investment contracts and, therefore, securities. By enabling the trading of these…