Day: August 12, 2024

Bitcoin Technical Analysis: BTC Struggles Amidst Bearish Pressure, Eyes Key Support Levels

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Bitcoin’s price on August 12, 2024, stands at $59,777, with intraday 24-hour prices ranging between $57,814 and $61,054. The cryptocurrency’s market capitalization is $1.16 trillion, supported by a 24-hour trade volume of $29.81 billion. As bitcoin navigates this challenging environment, technical indicators reveal continued bearish momentum, testing the resolve of bullish investors. Bitcoin The 1-hour […] Original

Latam Insights: El Salvador Advances Talks With IMF Despite Bitcoin Allegiance; Brazil Passes First Solana Spot ETF

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the last week. In this issue: El Salvador holds talks with the IMF despite its Bitcoin allegiance; Brazil greenlights the first Solana spot ETF; and Polymarket gets criticized for its decision on the Venezuelan presidential election bet. El Salvador […] Original

Legendary Fibonacci Extension Reveals When Bitcoin Will Reach $109,000

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Crypto analyst CryptoCon has highlighted a technical indicator that has always accurately predicted each local high for Bitcoin in this bull run. Once again, this indicator has revealed the next local high for Bitcoin and when it will happen.  When Bitcoin Will Reach A Local High Of $109,000 CryptoCon predicted in an X (formerly Twitter) post that the Bitcoin Fibonacci extension is set to push the flagship crypto over $100,000 as it rises to $109,236, a move which the analyst added could happen by year-end. He suggested that Bitcoin reaching…

Solana Rockets Up 23% As Developments Spark Investor Interest

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Although the market dipped today, Solana has found its way to spark investor interest despite falling a few points in the past 24 hours. However, the token is still up nearly 22% in the past month, going against the market’s general bearishness after last week’s slip and slide.  Related Reading Solana’s significant traction around the world has garnered some attention in the institutional space, leading to a development that might help SOL weather the bearish storm ahead. But with the coming announcements of several macro indicators, there might be trouble…

USDT Issuer Tether to Fight Celsius’ $3.3 Billion ‘Shakedown’ Litigation

The case concerns a loan agreement between Celsius and Tether that allowed Celsius to borrow stablecoins “to operate certain critical aspects of its business,” according to the lawsuit. In the filing, Celsius alleges that when the market crashed in mid-2022, in the “ninety-day period prior” to Celsius’ bankruptcy filing, Tether insulated itself from the impending bankruptcy by making “preferential and fraudulent transfers” of bitcoin. Source

Binance to convert Monero, Bitcoin Gold to USDC, delist Loom Network

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Binance is set to convert over a dozen tokens into the USDC stablecoin while also delisting six additional tokens as part of its latest platform adjustments. Cryptocurrency exchange Binance is set to convert multiple tokens on its platform to USDC based on users’ holdings in their wallets as the exchange continues aiming to simplify trading pairs. In an Aug. 12 blog notice, the exchange said it will convert 15 tokens, including privacy-oriented Monero (XMR) and Bitcoin Gold (BTG) into Circle’s stablecoin USD Coin (USDC). Binance did not reveal the reason…

SUI Leads Crypto Market With 78% Weekly Uptick: Here’s Why

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Over the past seven days, Sui (SUI) has emerged as the standout performer in the crypto market, recording an massive 78% increase in its price. This surge positions SUI as the leader among the top 100 cryptocurrencies by market capitalization, significantly outperforming its peers, Helium (HNT) with a 60% increase and Bittensor (TAO) at 50%. Why Is SUI Up Over The Past Week? Andrew Kang, the founder of Mechanism Capital, provided insights into the SUI’s recent success in a series of posts on X. Kang suggested that the bullish trend…