Day: June 11, 2024

Bitcoin Set for Further Decline As Bearish Sentiment Intensifies

Bitcoin (BTC), the leading cryptocurrency by market capitalization, appears to be heading for further declines as market sentiment turns increasingly bearish. Recent analysis shows that BTC is struggling to maintain key support levels, and the overall mood among traders and investors is shifting towards caution. Several factors such as macroeconomic pressures, regulatory concerns, and technical indicators contribute to this negative outlook. As Bitcoin continues to face selling pressure, the potential for additional downside becomes more pronounced. This article explores Bitcoin’s near-term price action for market participants looking to navigate the…

Bitcoin.com’s Verse Voyager NFT Collection Sells Out

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In a landmark event for the Bitcoin.com Verse community, the Verse Voyager NFT collection has completely sold out. This achievement underscores the growing interest and enthusiasm in the decentralized finance space and highlights Bitcoin.com’s commitment to innovation and community engagement. “In a market overwhelmed by speculative meme coins, the success of our first NFT collection […] Original

Bitcoin mining attracts ‘various types of criminal actors,’ Europol says

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European law enforcement agency Europol slammed crypto mining as well as layer-2 solutions, saying they cause “additional problems for law enforcement investigations.” European law enforcement agency Europol has criticized crypto mining and layer-2 blockchain solutions, asserting that they pose “additional problems for law enforcement investigations.” In a recent 40-page report on cryptographic encryption, the Hague-based agency highlighted how crypto mining has become an attractive method for criminals to launder illicit proceeds. Criminal actors can use mining operations to obscure illicit earnings, in some cases even generating further profits for criminals,…

AKT gains 9% as Akash Network unveils future roadmap at decentralized AI event

Akash Network, a leading player in the decentralized cloud computing sector, has seen its native token, AKT, emerge as one of the top gainers among the top 100 cryptocurrencies, At the time of writing, AKT is still up 9% in the last 24 hours, trading at around $4.48 per coin. In the same time frame, the token experienced a daily trading volume of $51.7 million, up 495%. The crypto asset’s market cap has also climbed to $1.07 billion, making it the 76th-largest cryptocurrency. AKT 24-hour price chart | Source: CoinMarketCap…

Federal Reserve Should Cut U.S. Interest Rate as Restrictive Stance Is Adding to Inflation, Democrats Say

“We write today to urge the Federal Reserve (the Fed) to cut the federal funds rate from its current, two-decade-high of 5.5 percent. This sustained period of high interest rates is already slowing the economy and is failing to address the remaining key drivers of inflation,” Senators Elizabeth Warren (D-Mass.), Jacky Rosen (D-Nev.) and John Hickenlooper (D-Colo.) wrote, according to a document on the HuffPost website. Source

Bitcoin ETFs See $65M Net Outflows on Monday, Breaking 19-Day Record Streak

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$2 Billion Crypto Funds Flow Into Market On Rate Cut Buzz

The cryptocurrency market is buzzing with renewed optimism as investment funds witness a historic inflow surge. CoinShares, a leading digital asset manager, reported a record-breaking $2 billion influx into crypto funds in just one week, surpassing the entire month of May’s net inflows. This positive trend, now spanning five consecutive weeks, has propelled total assets under management (AUM) in crypto funds back above the coveted $100 billion mark, a level last seen in March 2024. Related Reading Bitcoin ETFs Fueling The Fire Bitcoin, the undisputed king of cryptocurrencies, remains the…

British crypto exchange Lykke loses over $22m in hacker attack

U.K.-based crypto exchange Lykke said over $22 million worth of crypto had been stolen from its wallet in early June. British cryptocurrency exchange Lykke reported a loss exceeding $22 million following a cyberattack on its wallet. Lykke UK and Lykke Corp AG (Lykke) suffered an attack on their infrastructure on June 4. The affected systems were immediately shut down to limit damage. The identified security breaches have been thoroughly examined and fully addressed. — Lykke✨Zero-fee crypto exchange✨ (@lykke) June 10, 2024 In a Jun. 10 post on X, the crypto…

How Will Bitcoin And Crypto React?

As the financial markets brace for the upcoming Federal Open Market Committee (FOMC) meeting on Wednesday, June 12th, the Bitcoin and crypto community is poised to assess the implications of any Federal Reserve announcements on digital assets such as Bitcoin. With the consensus forecast suggesting that the Federal Reserve will hold the federal funds rate steady at 5.25%-5.50%, the primary interest of investors has turned to the nuances of the Fed’s forward guidance and economic projections. Crypto analyst Tomo (@Market_Look) shared his insights on X, framing the upcoming FOMC meeting…