Day: August 1, 2023

Bitcoin investor sentiment slumps to a new low, even as macro and equities show improvement

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Bitcoin surpassed the $30,000 resistance on June 21, or 40 days ago, after a notable 19.5% gain in a week. Since then, it has been moving within a range filled with occasional moderate corrections, and as of Aug. 1, the Bitcoin (BTC) price was trading near $29,300. While these consolidation periods are common in traditional markets, they tend to make crypto investors quite anxious. As Bitcoin’s price repeatedly fails to break the $31,000 level, traders are becoming increasingly tense and their sentiment is worsening. This trend could reverse suddenly, regardless of any…

Crypto trader weighs in on possible Bitcoin extinction scenarios

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Episode 11 of Cointelegraph’s Crypto Trading Secrets podcast is now live, welcoming crypto trader Mohit Sorout for an interview that took place on July 21. Host Benjamin Pirus asked Sorout several questions, including one regarding Bitcoin’s (BTC) future and what scenario, if any, could lead to its extinction. Sorout suggested two different possibilities.  According to the trader, “If somebody figured out a way to crack seed phrases, if they built a supercomputer,” it could potentially lead to vulnerabilities in Bitcoin. “There have been some rumors in the past. People say,…

Curve Finance (CRV) Liquidation Threat Spooks DeFi Protocols

Another area of focus for teams has been reinforcing the links that lock DeFi protocols together. Last night, a representative for the stablecoin-focused Reserve Protocol, which builds on top of DeFi majors including Lido, Compound and Rocketpool, asked in their respective Discords for help to establish “a more robust incident response strategy” so that its developers can coordinate across teams during crises such as Curve. Source

Bitcoin price risks $25K dip despite ‘macro pivot point’ — New analysis

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Bitcoin (BTC) faces a “breakdown” and distribution despite a new macroeconomic paradigm being around the corner. That was one of the conclusions of quantitative Bitcoin and digital asset fund Capriole Investments, which, in its latest update, warned that Bitcoin was “not yet” ready to flip bullish. Capriole: Bitcoin fundamentals say “not yet” United States equities are booming, and the Federal Reserve may be at the end of its most stringent monetary tightening ever — but Bitcoin has failed to react. As traders predict a return to levels closer to $25,000…

gateway to state control or monetary innovation?

While some champion CBDCs as a financial revolution, many view them as a threat to privacy and freedom. Crypto.news spoke with experts to shed light on this complex debate. Digital currencies backed by central banks, or CBDCs, could completely change how we use money. They could make payments quicker, less costly, and more effective both within countries and across borders. By cutting down on the expenses tied to making, sharing, and protecting physical cash, CBDCs could help economies work better and greatly improve how banking systems operate. However, many experts…

Bankruptcy judge signs off on order allowing Terraform Labs to subpoena FTX entities

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A judge in the bankruptcy case for defunct crypto exchange FTX has issued an order allowing Terraform Labs to subpoena information that could be used in its case brought by the United States Securities and Exchange Commission (SEC). In a July 31 filing in U.S. Bankruptcy Court for the District of Delaware, Judge John Dorsey said Terraform Labs was permitted to serve FTX Trading and FTX US with subpoenas aimed at gathering evidence the firm could use in its defense from allegations of fraud by the SEC. The crypto firm…

16 tips for managing the business development side of scaling

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Founders of crypto and blockchain companies launch with a vision of bringing an innovative and impactful service to the business or consumer marketplace. And as with entrepreneurs in any industry, they have the goal of growing. With expertise in the technology and its potential, leaders of crypto and blockchain firms may be clear on the “nuts and bolts” aspects of scaling — infrastructure upgrades, interoperability, compliance and so on — but less knowledgeable about the business development side of growing a company. Crypto and blockchain companies seeking to expand will…

DeFi Platform Term Finance Brings Fixed Rate Lending to Ethereum

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