Day: November 12, 2020

Bitcoin Needs to Surpass $16,200 to Confirm the Case for a Further Rally

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Bitcoin has begun to thrust higher once again after an extended bout of consolidation under $16,000. The leading cryptocurrency currently trades for $16,150, up 3% in the past 24 hours alone. BTC has begun to outpace altcoins once again, with most digital assets actually recording losses against the U.S. dollar today. At $16,150, Bitcoin is slightly below the local highs at $16,225, which the cryptocurrency has tapped twice over the past few hours. Analysts think that the cryptocurrency must clear that technical resistance if it is to confirm the case…

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Uniswap’s UNI Could Be Overextended as Analysts Eye a Sharp Retrace

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Uniswap’s UNI governance token has been trading in close tandem with the rest of the blue-chip DeFi assets throughout the past few days. Although this has generally boded well for UNI, it has faced some pressure today due to a downturn across all DeFi assets. This decline has largely come about due to Bitcoin ripping higher, sucking the oxygen out of the room. Investors are now cycling their recent DeFi profits back into Bitcoin, and these smaller tokens may continue facing pressure on their price until BTC can stabilize. Analysts…

Cryptocurrency News Today | Top 5 Crypto News | 4 November, 2020

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Before Congress, federal regulators dispute US pace on national digital currency

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Amid a global race toward central bank digital currencies, or CBDCs, the United States needs to focus on the private sector, says Acting Comptroller of the Currency Brian Brooks.  “We have built private stablecoins in this country that already have a market cap in the tens of billions of dollars,” Brooks said in a U.S. House Committee on Financial Services hearing on Thursday. Formerly head of Coinbase’s legal department, Brooks currently leads the Office of the Comptroller of the Currency, or OCC, which is the Treasury office that regulates federal…

Bitcoin whale sell-off could capsize BTC’s voyage above $16,200

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Bitcoin (BTC) price is proving to be relatively stable at around the $16,000 level, heavily outperforming both safe-haven and risk-on assets, including gold and stocks. But in the near term, the digital asset faces a major roadblock in the form of whales. On Nov. 12, the price of Bitcoin reached $16,199, a level not seen since the famed 2017 rally. Although BTC dropped to $15,600 within a few hours, it quickly recovered and at the time of writing it looks like the digital asset will attempt to overtake the intraday high.…

Market Wrap: Bitcoin Hits $16.2K; Uniswap Crosses $3B Locked

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Bitcoin was gaining amid positive institutional and retail adoption signs as the amount of crypto locked in Uniswap signals DeFi continues to be more just than a fad. Bitcoin (BTC) trading around $16,154 as of 21:00 UTC (4 p.m. ET). Gaining 2.9% over the previous 24 hours. Bitcoin’s 24-hour range: $15,454-$16,186 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Nov. 10.Source: TradingView Bitcoin was trending upward Thursday, continuing a direction that started Wednesday. The price per 1 BTC was…

EU will decide on digital euro in January 2021: ECB president

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The president of the European Central Bank, Christine Lagarde, has said that the bank should reach a decision on releasing a digital euro early next year. In an online policy panel held on Nov. 12, Lagarde stated that the European Central Bank, or ECB, was not “racing to be first” in its efforts to release a central bank digital currency, or CBDC. However, she said that the results of the consultation the central bank launched in October on a digital euro would be ready in January 2021. “At that point…

Yearn.finance (YFI) Tests Key Support as Funding Rates Flip Negative

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Yearn.finance’s YFI token has been facing some intense selling pressure today as the focus shifts back to Bitcoin. YFI and other blue-chip DeFi tokens have posted some massive gains throughout the past few days, with the Yearn ecosystem’s token rallying from lows of $7,500 to highs of $18,000 over the course of an hour. Other tokens followed in its footsteps and saw similar gains, with this revitalizing the aggregated DeFi sector. Bitcoin’s sideways trading within the $15,000 region that took place concurrently with this upsurge was vital for these tokens…