Tag: Support

Bitcoin may restest $48.9k support

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Bitfinex analysts opined that Bitcoin might retest support around $48,900 as a potential local bottom after crypto markets dropped under $2 trillion. Bitcoin (BTC), crypto’s bellwether asset, could reach lower levels as worldwide economic uncertainty wiped out over $570 billion in digital asset value since August began. Bitfinex analysts shared that Bitcoin could revisit support after plunging under $50,000 if bullish momentum remained unavailable.  Following the latest downswing, BTC dominance rose as high as 60%, meaning that Bitcoin made up most of the market and was the leading asset for…

Circle to Cease USDC Support on Flow Blockchain Amid Network Upgrade

Jessie A Ellis Aug 05, 2024 16:39 Circle announces the discontinuation of USDC support on the Flow blockchain due to an upcoming network upgrade, effective September 3, 2024. Circle has announced that it will discontinue support for USDC on the Flow (Cadence) blockchain effective September 3, 2024, due to an upcoming network upgrade. According to Circle, the minting of USDC on Flow will continue until August 27, 2024, at noon ET. Impact on USDC Holders Circle has urged Circle Mint customers, retail…

Bitcoin Loses Crucial Support, Poised For Return To $54,000 – Analyst

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The price of Bitcoin has maintained a consistent decline over the past week following several economic and market developments. According to data from CoinMarketCap, the premier cryptocurrency currently hovers around the $60,000 price zone, having lost over 11.17% of its market value in the last seven days. As many crypto enthusiasts may hope Bitcoin finds some stability soon, CryptoQuant analyst abramchat has predicted a reverse scenario, indicating the crypto market leader may experience more losses in the coming days. Bitcoin Price Far From Recovery?  In a Quicktake post on CryptoQuant,…

$21.73 Support Under Siege – What’s Next?

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My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for…

2,200 letters flood Senate seeking support Bitcoin proposal

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Following pro-crypto Senator Cynthia Lummis’ plea to enact a Bitcoin Strategic Reserve bill at the end of July, U.S. Senators have now received over 2,200 letters urging them to support the proposal.  The bill aims to create a “decentralized network of secure Bitcoin (BTC) vaults” managed by the U.S. Treasury, mandating lawmakers and government officials to implement stringent cybersecurity protocols and physical security measures to safeguard Bitcoin assets from theft. BIG BREAKING: In just 48 hours over 2,200 letters have been sent to U.S. Senators requesting them to co-sponsor and…

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…

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