Day: July 1, 2024

Russia’s sanctioned business union mulls establishing national Bitcoin fund

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Russia’s sanctioned business association considers a national Bitcoin fund to enhance the use of digital financial assets in foreign trade. The Russian Union of Industrialists and Entrepreneurs (RSPP), a sanctioned Russian union representing the country’s wealthiest business figures, is considering launching a national crypto fund to use crypto in foreign trades as Russian business explores options to circumvent Western sanctions. In an interview with Russia’s newspaper Vedomosti, managing director of financial policy and financial markets at RSPP Andrey Lisitsyn said the fund would be based on Bitcoins (BTC) produced by…

Market Confidence Could Quickly Crumble, BIS Warns Indebted Nations

The BIS did not single out any nation in particular but cautioned advanced economies from running fiscal deficits larger than 1% of the gross domestic product (GDP) this year, down from 1.6% in 2023. The warning could not have been more timely as several nations, including the U.S., go to polls this year, where by governments typically boost spending to garner voter support. Source

Bitcoin Technical Analysis: BTC Bulls Test Upper Resistance

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Bitcoin’s price on July 1, 2024, stands at $62,769, with a 24-hour intraday price range of $61,261 to $63,694. The cryptocurrency’s market capitalization is $1.23 trillion, and the 24-hour trade volume is $21.98 billion. Bitcoin Bitcoin’s hourly chart presents a strong upward trend starting from approximately $60,620, peaking at $63,724, followed by a slight decline. […] Original

Will A Breakthrough Ignite A Bullish Run?

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Bitcoin (BTC) is on the brink of a significant price movement as it approaches the crucial resistance level of $64,515. The cryptocurrency asset has been experiencing an upward trend, gaining momentum and investor confidence.  Breaking through this key resistance could act as a catalyst for a major rally, potentially pushing BTC to new heights. Traders and market analysts are closely monitoring this level, as a successful breach could signal a strong bullish phase and attract increased trading activity, further driving up the price. This article aims to provide an in-depth…

Blockchain: A New Battleground in Age-Old Tussle Between Privacy Advocates and Data-Hungry Governments, Says Colored Coins Founder

Although many players in the blockchain industry prioritize maximizing throughput, Alex Mizrahi, co-founder of Chromaway, believes providing users with a transparent, secure, and decentralized computing environment is still equally important. So while blockchain projects aspire to satisfy the basic need to transact, Mizrahi emphasizes that establishing consensus among nodes should not be the sole goal. […] Source CryptoX Portal

Bitcoin reaches $63k as miner selling pressure declines

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Bitcoin’s (BTC) one-month bearish momentum seems to have ended as the miner selling pressure declines. BTC is up by 2.2% in the past 24 hours and is trading on the verge of the $63,000 mark at the time of writing. The asset’s market cap is sitting at $1.24 trillion. Bitcoin’s daily trading volume increased by 57%, reaching $21 billion. BTC price, supply held by miners, whale activity and RSI – July 1 | Source: Santiment According to data provided by CryptoQuant, the BTC miner selling pressure and “concerns” have cooled…

German Police Transfers Additional $95 Million in Bitcoin to Bitstamp, Coinbase, and Kraken

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The German Government has apparently transferred an additional 1,500 bitcoin, valued at nearly $95 million, to multiple cryptocurrency exchanges, including Bitstamp, Coinbase, and Kraken. This move, part of a series of transactions since June 19, has led to speculation about the government’s intention to liquidate some of its bitcoin holdings, originally seized in a large-scale […] Original

Metahero announces the launch of its phone application to create customized web3 avatars

Metahero (HERO), the BSC-based native token of the Metahero ecosystem, begins the month of July on bullish grounds after witnessing a 25% drop in June due to the prevalent market retracement. Unlike July, HERO started June with bearish pressure, witnessing three consecutive days of turbulence at the beginning of the month on the back of a downtrend that spilled from May. This was largely due to the overall bearish conditions in the market, which saw Bitcoin (BTC) give up most of its March gains. Launched in 2021, the HERO token…