Day: September 12, 2023

Negative BTC Price-Volatility Correlation Returns as Crypto Traders Fear FTX Creditor Liquidations

“The impending U.S. August CPI data will likely show a rebound in inflation, which means the Federal Reserve (Fed) will probably take additional liquidity-tightening measures to curb reflation. In liquidity redistribution, crypto assets are prioritized last, which means that the liquidity stored in crypto assets could be withdrawn and invested in assets such as cash or U.S. stocks,” Ardern said. Source

Bitget exec says KYC is useful to filter out illegitimate users

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Crypto exchange Bitget has grown significantly despite the challenges brought by the bear market. In 2023, the exchange announced two $100 million funds—one dedicated to crypto projects in Asia and another for maximizing the company’s long-term impact in the crypto space.  At the Bitget EmpowerX Summit held in Singapore, Cointelegraph’s Zhiyuan Sun spoke with Gracy Chen, the managing director of Bitget. The two spoke about Bitget’s growth amid the bear market, pausing its expansion in Hong Kong and the United States and why they believe that implementing Know Your Customer (KYC)…

Bitcoin (BTC) Price Tanks Under $25K, Altcoins Face Even Deeper Crash

Bitcoin and the broader crypto market have come under major selling pressure amid news of the FTX creditor liquidation. On Monday, September 11, the world’s largest cryptocurrency Bitcoin (BTC) faced a major price correction with its price taking a dip under $25K. However, the BTC price has recovered since and is currently trading at $25,807 levels. On the technical charts, the BTC price has formed a death cross pattern with its 50-day short-term moving average having breached its 200-day short-term moving average. This suggests strong bearish formations on the technical…

Coinbase Prime Launches Innovative Web3 Wallet for Retail and Institutional Clients

The tool seamlessly integrates with Coinbase Prime accounts, simplifying access to Web3 features directly and eliminating the need for multiple app downloads, thereby enhancing the overall user experience. Coinbase has announced the launch of the Coinbase Prime Web3 Wallet to provide secure and useful services to its institutional and retail clients. The significance of launching a Web3 wallet cannot be overstated, as it plays a central role in providing an exceptional user experience within a decentralized digital landscape. The company wrote: “We are excited to announce the launch of the…

Tesla (TSLA) Shares Surge More than 10% after Morgan Stanley Analysts’ Prediction

Morgan Stanley had to upgrade its target price for Tesla shares for the next 12 to 18 months, from $250 to $400. Following a Monday report of an upgraded prediction by Morgan Stanley analysts, Tesla shares have now gained 10.09%. In an optimistic note to investors, the investment bank shared how it foresees the electric vehicle (EV) maker selling AI technology to other automakers. Additionally, Morgan Stanley also sees Tesla cutting down on the cost of chips by using its own GPUs. That is, at least, for as much as…

Can Pepe Coin Bounce Back? Insights On Its Future

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Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance.  The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side. As of the latest data from CoinGecko, the coin is…