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The infamous Roger Ver is back in the headlines for all the wrong reasons. Like many players in the industry, the derivatives exchange CoinFLEX recently ran into financial trouble. Surprisingly, they blamed it all on Roger Ver and the circus started. Luckily for us, Chinese journalist Colin Wu covered “the entire insider details through a source close to the situation” in his newsletter. However, as you can see, it’s an anonymous source. So, take the story we’re about to analyze with a grain of salt. The summary of the situation…
The general sentiment in the crypto market seems to be turning bearish as Bitcoin and Ethereum record losses over today’s trading session. The two larger cryptocurrencies by market cap still record some gains over higher timeframes but seem poised for a dicey week. Related Reading | Bitcoin Puell Multiple Lifts Off From Buy Zone, Bull Momentum To Follow? At the time of writing, Bitcoin (BTC) trades at $22,100 with a 3% loss in the last 24 hours. In the meantime, Ethereum (ETH) trades at $1,520 with a 6% loss over the…
Bitcoin traded below its mining cost basis in June, DeFi experienced a 33% decline in TVL, and mid-month weekly BTC options peaked to their highest on record. The blockchain space is seeing some areas of strength despite the perceived downturn in the market. The perpetual futures funding rates for Bitcoin (BTC) and Ether (ETH) have flipped back to positive on major exchanges, which shows bullish sentiment among derivatives traders. In addition, Bitcoin started trading below its cost basis, which has marked previous areas of market bottoms. In contrast, June saw…
Some traditional market analysts, however, seem to be pricing in rate cuts by the Fed coming early next year, ostensibly as part of a future move to stop the U.S. economy from a deeper recession. Those analysts might be thinking the economy is too weak to handle higher rates, or they doubt the Fed’s resolve to maintain tight financial conditions if markets continue to swoon, or some combination. Source
There, Zhao took issue with the article’s portrayal of Binance as “sketchy” and with an anonymous quote from a trader that called Binance a “massive shitcoin casino.” These statements “were obviously designed to mislead readers into believing” that Zhao was breaking the law, the motion read. Source
A potential bipartisan bill to regulate stablecoins has been bogged down in negotiations, according to three people familiar with the talks, but lawmakers developing the legislation are considering releasing some draft language that may spur wider input. Source
Bitcoin (BTC) could be in the process of bottoming after gaining 25%, based on several market signals. BTC’s price has rallied roughly 25% after dropping to around $17,500 on June 18. The upside retrace came after a 75% correction when measured from its November 2021 high of $69,000. BTC/USD daily price chart. Source: TradingView The recovery seems modest, however, and carries bearish continuation risks due to prevailing macroeconomic headwinds (rate hike, inflation, etc.) and the collapse of many high-profile crypto firms such as Three Arrows Capital, Terra and others. But some widely…
United States-based fast casual restaurant chain Chipotle has started an online game which will give customers the chance to win more than $200,000 in crypto. In a Monday announcement, Chipotle said that through July 31 fans would be able to play its “Buy The Dip” — and “eat the dip” — game using their rewards accounts. The company will give away $45,000 in Bitcoin (BTC), $10,000 in Ether (ETH), $13,750 in Solana (SOL), $14,250 in Avalanche (AVAX), and $14,250 in Dogecoin (DOGE) through the game. “We want to build the…
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