Category: Other Crypto News

Bitcoin Price Crash to $65K Sparks $1.8B Crypto Liquidation Bloodbath

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Bitcoin (BTC) has dropped 8% to a nine-week low of $65,360 from Tuesday’s high of $71,300 amid increasing geopolitical risks surrounding the US-Iran war. Key takeaways: Bitcoin slipped to $65,000 on Wednesday in a market-wide correction, liquidating $774 million in longs. Traders say Bitcoin needs to hold $60,000 as support to avoid a deeper correction in BTC price. Bitcoin wipes out longs in tumble to $65,000 Data from TradingView showed new BTC price lows of $65,362 on Bitstamp, the lowest since March 29 as sellers stayed in control. BTC/USD daily…

CoinShares Bull Case Sees Ethereum Hitting $14,135 By 2031

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CoinShares has laid out a five-year valuation framework for Ethereum that puts ETH at $14,135 by 2031 in its bull case, arguing that the asset’s long-term value now depends less on base-layer fees and more on its role as money, collateral and settlement infrastructure across the Ethereum economy. How High And Low Could Ethereum Go By 2031? The report, written by Luke Nolan, CoinShares’ senior research associate for Ethereum, frames ETH through a sum-of-parts model combining a cash-flow valuation, a monetary premium valuation and an additional network/speculative overlay. The headline…

The End Of An Era? Shiba Inu Burns Slow To A Crawl As Investors Lose Interest

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The Shiba Inu burn initiative has existed for a number of years now, a move that was created to help reduce the massive supply of the meme coin. Initially, this initiative drew a lot of attention, with investors burning thousands of dollars worth of SHIB daily and removing billions in SHIB from the circulating supply. However, as the market has moved into another bear market, Shiba Inu has suffered, and the burn initiative has slowed to almost a stop. Shiba Inu Burns Drop To Only Hundreds Of Dollars As shown…

XRP Breaks Below Triangle—Will Drawdown Extend To $1.14?

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A cryptocurrency analyst has highlighted how XRP has recently dropped under a Symmetrical Triangle, potentially setting a target of $1.14. XRP Has Broken Below A Symmetrical Triangle In a new post on X, analyst Ali Martinez has talked about a Symmetrical Triangle that the daily price of XRP was potentially trading inside before the recent drawdown. The “Symmetrical Triangle” here refers to a pattern from technical analysis (TA) that forms whenever an asset trades between two converging trendlines. The main feature of the pattern that separates it from other triangular…

New York and EU Regulators Unite to Oversee Stablecoins

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​The European Banking Authority and the New York State Department of Financial Services (NYDFS) have signed a memorandum of understanding to police cross-border stablecoin activities.  The EBA said on Tuesday that the deal is part of its duties under the Markets in Crypto-Assets (MiCA) Regulation and sets out principles and procedures for exchanging information and coordinating stablecoin supervisory activities, market trends, and risks between New York and the European Union. NYDFS said the deal would “enhance the supervision of entities engaged in stablecoin activities, identify market trends and risks, and…

Bitcoin Drops 7% to Nine-Week Low Amid US-Iran Strikes

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Bitcoin prices have dropped 7% on the day, breaking key support to a nine-week low after the US and Iran launched fresh strikes as talks over a possible ceasefire have stalled.  Bitcoin (BTC) fell to $65,385 on Coinbase in early trading on Wednesday, its lowest level since late March, according to TradingView. The slump follows the largest daily fall since Feb. 5 as BTC shed more than $4,500 on Tuesday.  According to CoinGlass data, around 277,000 traders have been liquidated over the past 24 hours, with total liquidations of around…

Ethereum Final Dip? Analysts Call For New Low Amid $1,900 Drop

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After the latest Ethereum (ETH) pullback, some analysts have pointed to a bearish setup that suggests the leading altcoin could see another correction toward its potential market bottom. Related Reading Ethereum Bear Setup Breakdown Spells Trouble On Tuesday, Ethereum saw a 5.5% intraday drop from its daily opening, falling below the $1,900 barrier for the first time since late February. Notably, the King of Altcoins broke down from its five-day range between $1,965-$2,035, reaching a two-month low of $1,880. Amid today’s broader pullback, which also sent Bitcoin (BTC) toward the…

Humanoid Robots Remain Years Away From Replacing Human Workers

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Modern artificial intelligence-powered robots are impressive in their capabilities, but are still years away from replacing humans as they can’t yet adapt to changing conditions, researchers say.  Last month, AI robotics company Figure showcased its humanoid robots performing basic tasks, such as cleaning a room, but a series of robots working for nine days straight sorting packages sparked conversation about how soon robots could replace jobs.  Oliver Obst, an associate professor of robotics at the Australia based University of New South Wales, told Cointelegraph that repetitive jobs such as physical…

Bitcoin Bulls Crushed: Sub-$70,000 Crash Flushes $428M In Longs

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Data shows bullish bets related to Bitcoin have suffered a massive amount of liquidations as the asset’s price has plunged below the $70,000 mark. Bitcoin Falls Below $70,000 For The First Time Since April Following up on the bearish tone set during the second half of May, Bitcoin has opened June with another drawdown as its price has slipped under $70,000 for the first time since April 7th. Below is a chart that shows how the latest bearish action has looked for the cryptocurrency. Over the last 24 hours, Bitcoin…

Crypto Turns Contrarian Bet as AI Stocks Dominate

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Crypto is turning into a “contrarian bet” as institutional investors are being drawn to artificial intelligence stocks, says Bitwise chief investment officer Matt Hougan. “The crypto market is brutal right now,” Hougan wrote in a market note on Tuesday. “One major reason is that crypto is no longer the belle of the ball. AI stocks, robotics companies, SpaceX … who needs crypto when the Nasdaq-100 is up 43% year-over-year?” “With AI sucking all the oxygen out of the room, crypto is being forced to go through a painful metamorphosis: from…