Day: August 1, 2024

Bitcoin Makes Third Retest Of Historical Support, Analyst Sounds Alarm

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An analyst has warned that support levels weaken the more they are retested and Bitcoin is now doing a third consecutive retest of a major such level. Bitcoin Is Again Retesting The Short-Term Holder Realized Price As explained by CryptoQuant community manager Maartunn in a new post on X, BTC’s latest drawdown has led to it doing another retest of the short-term holder Realized Price. The “Realized Price” here refers to an indicator that, in short, keeps track of the average cost basis of the investors or addresses on the…

Bitcoin down 10% since end of July 29, DOW also slips

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Bitcoin showcased its correlation to traditional markets on Aug. 1 as the cryptocurrency slumped alongside stocks and market indexes. Bitcoin (BTC) has declined over 10% since July 29, when the cryptocurrency surged toward $70,000 and reached a two-month high after Donald Trump’s remarks in Nashville. As of this writing, the asset was trading under $63,500. 24-hour BTC chart on Aug. 1 | Source: crypto.news BTC’s 7% slump in 24 hours coincided with significant drops in the S&P 500 and Dow Jones market indexes. Specifically, the Dow Jones Industrial Average fell…

New Memecoin Sensation Neiro Hits $200M Market Cap In 4 Days

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A new dog-themed meme coin has taken the crypto market by storm. Inspired by Kabosu owner’s new dog, Neiro, a new wave of Shiba Inu-themed tokens surged on Solana. However, Its Ethereum-based competitor has stolen the show with its stellar performance in the last four days. Kabosu’s Sister Sparks New Memecoin Wave Kabosu, the dog that inspired the legendary Doge meme, passed away in May. The beloved dog also inspired the flagship memecoin Dogecoin (DOGE), and a plethora of Shiba Inu-themed tokens. Its owner recently announced she had adopted Neiro,…

Fed’s lean toward September rate cut bullish for Bitcoin

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The likelihood of the U.S. Federal Reserve cutting rates in September looks bullish for Bitcoin and crypto investors, QCP Capital analysts wrote in an Aug. 1 report. On July 31, minutes from the Federal Open Market Committee meeting revealed that Fed chair Jerome Powell and other officials at the American apex bank decided to leave interest rates unchanged. Powell and the Fed maintained tighter monetary policies for another month, keeping rates between 5-5.5% as the regulator held out for more positive economic data. According to QCP Capital, the FOMC minutes…

SUN.io Launches SUN DAO to Enhance Decentralized Governance and Drive Ecosystem Innovation

PRESS RELEASE. Singapore, August 1st, 2024 – SUN.io, a leading DeFi platform built on the TRON blockchain, is thrilled to announce the launch of SUN DAO. This strategic initiative aims to enhance SUN.io’s decentralized governance and community autonomy. By expanding the real-world use cases of the SUN token, SUN DAO will support the development and […] Source CryptoX Portal

StoneX Makes Waves with Montreal Exchange and ASX Membership

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Andrew Lane | Acuity Andrew Lane | Acuity Andrew Lane | Acuity Andrew Lane | Acuity Andrew Lane | Acuity Andrew Lane | Acuity During iFX EXPO International 2024, we had the pleasure to interview Andrew Loveridge from Acuity Trading. He discusses the evolving financial trading industry and the impact of AI, regulation, and technological advancements. He highlights the importance of natural language processing (NLP) and sentiment analysis in trading, detailing how these technologies are used to extract valuable data from text for trading purposes. Andrew also introduces their latest…

Crypto Exec Pushing for Industry Support of Kamala Harris for U.S. President

Despite President Joe Biden’s appointment of Gensler and ongoing support of his oversight of the cryptocurrency sector, “Kamala has, I think, an opportunity at a clean slate,” Thieriot said. The strategy he and the other supporters have in mind: She makes it clear her administration will work with the industry and support clear rules for it, and she shows openness for a friendlier chief at the SEC. Source