Day: September 27, 2023

Will Bitcoin price hold $26K ahead of monthly $3B BTC options expiry?

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The upcoming $3 billion in Bitcoin (BTC) monthly options expiration on Sept. 29 could prove pivotal for the $26,000 support level. BTC price faces serious headwinds On one side, Bitcoin’s recognition in China appears to be strengthening, following a judicial report from a Shanghai Court that acknowledged digital currencies as unique and non-replicable. Conversely, Bitcoin’s spot exchange trading volumes have dwindled to a five-year low, according to on-chain analytics firm CryptoQuant. Analyst Cauê Oliveira pointed out that a significant factor behind this decline in trading activity is the growing fear surrounding the…

Concerns grow over U.S. crypto market losing ground

SEC lawsuits, ambiguous taxation rules, and strict regulations are stirring unease in the American crypto community, possibly endangering the U.S. dominance in the crypto realm. In the heart of the financial world, a significant discussion is unfolding regarding cryptocurrency’s position in the United States. The U.S. Securities and Exchange Commission (SEC) is taking a prominent role, focusing on lawsuits and regulation enforcement that could influence the direction of the growing American crypto sector. This situation might lead to a potential exodus of crypto CEOs who are growing disillusioned with the…

Bitcoiner who tried to trade his way to Alaska has failed, 900 miles from finish

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A Bitcoin proponent’s recent attempt to crypto trade his way from New York to Alaska has come to a sudden and bitter end — some 900 miles from his final destination.  Thomas Kralow, a crypto trader and educator recently set himself the daring task of traveling from one side of the United States to the other funded solely by trading crypto. On Aug. 12, Kralow set out from New York with his assistant Ilya and an initial budget of $5,000 cash. The pair forked out some cash for a dinged-up…

Bitcoin Ordinals haven’t wrestled blockspace from money TXs: Glassnode

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Despite concerns that Bitcoin Ordinals are clogging the network, there is little evidence to suggest inscriptions are taking blockspace away from higher-value Bitcoin (BTC) monetary transfers. “There is minimal evidence that inscriptions are displacing monetary transfers,” on-chain analytics firm Glassnode explained in a Sept. 25 report. The firm explained that this is likely because inscription users tend to set low fee rates, expressing willingness to wait longer periods of time for confirmation. “Inscriptions appear to be buying and consuming the cheapest available blockspace, and are readily displaced by more urgent monetary transfers.”…

LINK Price Extends Increase, Will Chainlink Bulls Be Able to Hit $8.5 Milestone?

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Chainlink’s LINK price is moving higher above the $7.25 resistance. The price is now consolidating gains and might aim for more upsides above $7.50. Chainlink price is showing positive signs above $7.25 against the US dollar. The price is trading above the $7.30 level and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $7.25 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could restart its increase unless there is a close below the $6.95…

Everlodge up 80%, OP underperforms despite OP Mainnet raising $160M

In March 2023, OP Mainnet secured $160 million for development. However, after five months, its performance has not met expectations, with its price dropping by almost 50% since the fundraising. Meanwhile, its competitors, such as Everlodge, are steady in the bear market. In the presale, ELDG is up 80%, drawing investor interest. Exploring Everlodge ELDG is up 80% in the ongoing presale, currently in stage 3. Everlodge introduces decentralized finance (defi) in the travel property market, offering a marketplace for fractional investments, from as low as $100, in luxury villas,…

Ethereum Price Stages Recovery But Can It Overcome This Key Hurdle?

Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could rise steadily if it settles above $1,600 and $1,620. Ethereum is attempting a recovery wave above the $1,580 level. The price is trading above $1,590 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if there is a close above $1,600 and $1,620. Ethereum Price Signals Recovery…

Ben Armstrong spends night in jail with prowling, simple assault charges

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Crypto influencer Ben Armstrong, formerly known as ‘BitBoy,’ reportedly spent the night in the slammer and has been hit with two charges following his conspicuous arrest.  Armstrong, who was taken into custody on Sept. 25 while livestreaming outside a former associate’s house, spent a little over 8 hours in a cell according to the Gwinnett County, Georgia, Sheriff’s Office. The crypto influencer has been released on bail but has been hit with charges of “loitering/prowling” and “simple assault by placing another in fear,” with a bond amount of $2,600 along…

The Government Shutting Down Isn’t Great for Crypto

The House of Representatives does not look particularly close to a deal on keeping the federal government running in the short term, with House Speaker Kevin McCarthy facing dissatisfaction from his right flank, decreasing the chances of a continuing resolution that would keep federal employees paid. Source