Day: May 6, 2024

AVAX Price Uptrend To Continue? These Could Be The Factors To Watch

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AVAX price is gaining pace above the $36.50 resistance. Avalanche could rise further if there is a clear move above the $40.00 resistance zone. AVAX price is moving higher from the $30.50 support zone against the US dollar. The price is trading above $35.00 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $34.00 on the 4-hour chart of the AVAX/USD pair (data source from Kraken). The pair could continue to rise if it stays above the $36.30…

Market Making Mastery: Coinrate.pro CEO Reveals the 12x Market Caps Strategy

PRESS RELEASE. Abu Dhabi, AE, May 6, 2024 – Amidst the 2024 resurgence of the bull market, with Bitcoin breaking the $72,000 mark, the demand for sophisticated market making has skyrocketed. Coinrate.pro has emerged as a trailblazer with its innovative market making strategies and forward-looking vision. Sergey Smotrov, the CEO of Coinrate.pro, unveils the company’s […] Source CryptoX Portal

Ethereum Price Reclaims 100 SMA But Bulls Still Lack Strength To Clear Hurdles

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Ethereum price started a recovery wave above the $3,000 zone. ETH is now above the 100-hourly simple moving average and facing hurdles. Ethereum found support at $2,820 and started a recovery wave. The price is trading above $3,100 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $3,165 resistance zone. Ethereum Price Holds Ground Ethereum price remained stable and started a…

Australian Court Rules Against BPS Financial for Unlicensed Crypto Operations

The Federal Court of Australia has ruled against BPS Financial for operating “Qoin Wallet” without proper licenses. The Australian Securities and Investments Commission (ASIC) underscores the importance of regulatory compliance to protect consumers in the volatile crypto market. ‘First Court Outcome’ Against Crypto Payment Facility The Federal Court of Australia has found that BPS Financial […] Source CryptoX Portal

Bitcoin Price Rejects Key Resistance, Time For Another Drop In BTC?

Bitcoin price started a steady increase above the $62,500 resistance. BTC is again struggling to clear the $64,500 and $65,000 resistance levels. Bitcoin is showing positive signs and facing hurdles near $64,500. The price is trading above $62,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $62,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle to clear the $64,500 and $65,000 resistance levels. Bitcoin Price Faces Resistance Bitcoin price found support near…

Jack Dorsey initiative pours $21m into Openstats

Former Twitter CEO Jack Dorsey has made a staggering $21 million donation to OpenSats, a platform dedicated to funding Bitcoin (BTC) development.  The nonprofit announced Dorsey’s donation in a May 4 blog post, where it indicated the funds would be used to bolster the resources available for open-source projects, providing crucial funding to innovators across the globe. Dorsey, who led Twitter (now known as X) from 2015 to 2021, later confirmed the contribution while responding to a post by technology specialist and whistleblower Edward Snowden, who was warning Bitcoin developers…

India Announces ‘Successful’ Crackdown on E-Nugget Scam — Seizes $10M in Crypto From Exchanges

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India’s Enforcement Directorate has declared its multi-year crackdown on the “E-Nugget” scam in Kolkata successful. The operation has resulted in cash and crypto seizures, along with the arrest of the mastermind. Investigations uncovered numerous dummy accounts and led to the freezing of digital assets at various crypto exchanges, which were then transferred to the ED’s […] Source

Crypto Wealth Bolsters Real Estate Markets and Consumer Spending, Study Finds

As cryptocurrency becomes a significant part of American investment portfolios, its influence extends beyond digital transactions into tangible impacts on real estate markets and household spending, a recent study finds. Report Shows Cryptocurrency Wealth Adds ‘Meaningful Implications for the Real Economy’ The study, first reported on by Bloomberg, analyzes bank and credit card data from […] Source CryptoX Portal

Grayscale Bitcoin ETF records first inflow after losses

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Grayscale’s Bitcoin Trust (GBTC), the largest Bitcoin (BTC) exchange-traded fund (ETF) by assets, has reported its first net inflow since its launch in January 2024. This comes after the fund experienced $1.6 billion in outflows before the Bitcoin halving. On May 3, GBTC recorded a net inflow of $63 million, according to data from Farside Investors. This marked the first positive net flow for the fund since its conversion to an ETF in January, when 11 new spot Bitcoin ETFs were launched in the U.S. Several factors contributed to the…