Tag: Support

BTC price recovers to 3-day highs as new whale support forms at $19.2K

Bitcoin (BTC) held steady at the June 20 Wall Street open as nervous traders waited for a short-term trend decision. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader flags Bitcoin “macro bottoming period” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to just shy of $21,000 at the time of writing, a three-day high. The weekend had spooked the majority of the market and liquidated speculators with a trip to $17,600, marking Bitcoin’s lowest levels since November 2020. Now, with United States equities cool at the start of…

Elon Musk’s support for Dogecoin grows stronger following $258B lawsuit

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Not even a $258 billion class-action lawsuit alleging a crypto pyramid scheme could stop Elon Musk from publicly displaying his continued support for Dogecoin (DOGE). On June 16, a New York district court received a class action complaint against the world’s richest man Elon Musk and his companies, SpaceX and Tesla, for an alleged Ponzi scheme using DOGE tokens. The lawsuit demanded $258 billion in total monetary damages from Musk while requesting the court to rule DOGE trading as gambling in the United States. I will keep supporting Dogecoin —…

Crypto Fear and Greed Index Drops to Second Lowest Level of 6 Since 2018 as Bitcoin loses Crucial $20k Support

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Summary: The crypto fear and greed index is currently at a 6, the second-lowest since August 2018, when it fell to a value of 5. Bitcoin has lost the crucial $20k support level and hit a local low of $18,742, with the weekend possibly opening the doors to more losses. A drop below $20k could turn the Bitcoin market into one of knife-catching. There is a level of extreme fear in the crypto markets. The crypto fear and greed index has hit a value of 6, its second-lowest level since…

Digital Assets Exchange Crypto.com Rolls Out Support for Two Low-Cap Ethereum-Based Altcoins

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Singapore-based digital asset exchange Crypto.com is rolling out support for another two low-cap altcoins built on Ethereum (ETH). Crypto.com listed the governance token for Unifi Protocol DAO (UNFI), which utilizes decentralized finance (DeFi) to allow staking with a number of digital assets. “Unifi Protocol DAO (UNFI) is now listed in the Crypto.com App, joining the growing list of 250+ supported cryptocurrencies and stablecoins, including Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Chainlink (LINK), VeChain (VET), USD Coin (USDC), and Cronos (CRO).” Rival exchange Coinbase listed the token in January, causing the…

Market selling might ease, but traders are on the sidelines until BTC confirms $20K as support

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The total crypto market capitalization fell off a cliff between June 10 and 13 as it broke below $1 trillion for the first time since January 2021. Bitcoin (BTC) fell by 28% within a week and Ether (ETH) faced an agonizing 34.5% correction. Total crypto market cap, USD billion. Source: TradingView Presently, the total crypto capitalization is at $890 million, a 24.5% negative performance since June 10. That certainly raises the question of how the two leading crypto assets managed to underperform the remaining coins. The answer lies in the…

Bitcoin whale support lines up as trader says $14K ‘most bearish’ BTC price target

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Bitcoin (BTC) survived another night without breaking $20,000 on June 17 as $14,000 cemented itself as a likely bottom level. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader plans to go “all in” on BTC at $14,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $20,220 on Bitstamp overnight before rebounding up to $1,200 higher. The pair remained skittish but within a narrow range as market participants waited to see how long $20,000 would hold. The picture was complicated by increasing concerns over investment fund Three Arrows Capital…

Hester Peirce expresses strong support for crypto spot ETFs and regulatory structure

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United States Securities and Exchange Commission (SEC) commissioner Hester Peirce, sometimes known as Crypto Mom for her ardent support of the industry, spoke Tuesday at a conference hosted by the conservative-libertarian Federalist Society titled “Regulating the New Crypto Ecosystem: Necessary Regulation or Crippling Future Innovation?” Her lengthy remarks — over 4,000 words in the prepared version, which was augmented extemporaneously as she presented it — contain some of the bluntest criticisms of SEC policy she has made yet. Peirce characterized the SEC’s attitude toward the crypto market as a “refusal…

Bitcoin Maintains its $20k Support Amidst Anxiety Over the US Fed’s 75 Basis Point Hike

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Summary: The US Fed has announced a 75 basis point hike in interest rates. However, such a rate hike was predicted to inspire confidence in investors who now believe the US Federal Reserve is focused on bringing down inflation. Bitcoin has since maintained its $20k support zone amidst anxieties that the 0.75% interest rate increment is the biggest since 1994. Bitcoin’s $20k support is the level to watch until the bear market is officially over. Moments ago, the US Federal Reserve announced increasing its main interest rate by 75 basis…

Coinbase Triggers Explosive Rally for Ethereum-Based Altcoin As Exchange Announces Support for New Crypto Assets

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One altcoin focused on privacy and scaling solutions is surging after being added to top US crypto exchange Coinbase’s roster of assets. In an announcement, Coinbase says Marlin (POND) will start trading on Coinbase Pro paired with Tether (USDT) once appropriate liquidity conditions are met. Marlin is a high-performance “layer-zero” blockchain network that’s geared toward delivering high-quality infrastructure for the decentralized web. Calling itself “the unglamorous underbelly of the decentralized economy,” Marlin seeks to provide solutions for scaling and user privacy. The Marlin Foundry offers users the ability to leverage bandwidth…

‘Too early’ to say Bitcoin price has reclaimed key bear market support — Analysis

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Bitcoin (BTC) crept higher after the June 14 Wall Street open as analysts hoped that long-term support had been preserved. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes for “relief” from FOMC meeting Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded above $22,500 at the time of writing, having hit local highs of $23,300 on the day. The pair had seen a strong bounce after nearing $20,800, with traditional markets likewise recovering after panic set in over United States inflation. Eyeing where Bitcoin could go next, on-chain…