Day: June 7, 2024

VC Lists 2 Reasons Why Bitcoin Is Still Trending Below $100,000

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Bitcoin traders are upbeat, confident that bulls have more legs to push prices above $72,000 and all-time highs. While the excitement about what lies ahead is primarily due to the mass inflow into spot Bitcoin exchange-traded funds (ETFs), Charles Edwards, the founder of Capriole Investments, has picked out multiple factors capping the current uptrend to $100,000. Here’s Why Bitcoin Is Still Trading Below $100,000 In a post on X, Edwards said several factors combine to suppress gains. However, most relate to a tussle between new institutional money and a wave…

Jailed Binance Executive: 108 Former US Government Workers Echo Calls for Biden Administration’s Intervention

Over 100 former federal prosecutors and federal agents have asked the U.S. State Department to intensify its efforts to secure the release of Tigran Gambaryan, a U.S. citizen and Binance employee, from custody in Nigeria. In a letter addressed to Anthony Blinken, the 108 ex-government employees expressed concern that the U.S. efforts to date have […] Source CryptoX Portal

Crypto Friendly Customers Bank Said to Debank Some Digital Asset Hedge Funds

The West Reading, Pennsylvania-based company, which is owned by Customers Bancorp (CUBI), deals only in U.S. dollars and does not accept cryptocurrency or make loans to support crypto activities. It offers its clients, estimated at well over a hundred digital asset firms, a real-time blockchain-based payments platform called Customer Bank Instant Token (CBIT) that allows crypto clients to make U.S. dollar payments 24/7. Source

Polkadot (DOT) Forms Rising Wedge Pattern, Bullish Or Bearish?

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Polkadot (DOT), a popular cryptocurrency in the blockchain space, has been making waves with its innovative approach to interoperability and scalability. However, like any financial asset, its price movement is subject to various technical analysis patterns, one of which is the rising wedge chart pattern. The formation of a rising wedge pattern on DOT’s price chart suggests that despite its recent upward trajectory, there could be a downturn on the horizon. Traders and investors often watch for confirmation signals such as a break below the lower base of the wedge…

Bitcoin Coinbase Premium Index Has Turned Positive At 0.006, Why This Is Important

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The Bitcoin recent foray into $70,000 price territory has again become a hot topic among investors, with many looking at a positive price outlook. As a result of this fascinating price action, the vast majority of long-term holders have seen their holdings cross into profit zone. Particularly, the positive outlook seems to be positive among US-based investors, as shown by the Coinbase premium turning positive. Some see the return of the Coinbase premium as a bullish signal that could continue to drive the price higher. Coinbase Premium Index Flips Positive…

Robinhood’s (HOOD) Bitstamp Deal is Strategic And Brings Added Institutional Exposure: Bernstein

Exchanges offer a wide range of services such as staking, stablecoins, trading, custody and prime broking, the note said. The acquisition of Bitstamp potentially allows Robinhood to offer a wider range of crypto products to a more institutional client base. Bernstein has an outperform rating on Robinhood stock with a $30 price target. The shares were little changed in early trading on Friday at around $23. Source