LIVECryptologo777
@Cryptomane01
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While desperation reigns supreme, there is still good news brewing. Yes, the #crypto world is still getting caught up in the #bearish sadness, perhaps forgetting that this should be the week of a historic OK of #SEC for this very sector. Unless all the experts (who also have access to the most credible rumors) are wrong, this will in fact be the key week for Ethereum.
In fact, the SEC's OK to #ETF Ethereum should arrive this week, the definitive OK that will launch these products on the US markets. Is this an issue that has already been taken for granted and therefore has little impact on the markets? There are some points that we would like to analyze with you, our readers, to understand what type of impact this further evolution will have for the crypto market and specifically for Ethereum. It is an OK that comes after all the managers, as requested by the same SEC, sent the necessary updates. There are two requests to be approved, we remind our readers, with the first ok which arrived already on May 23rd and the second which should arrive between today and next Monday at the latest. Who knows. We don't yet know how ready the managers are to advertise the product. In all likelihood there will be demand, somewhat tempered by a summer period which is historically characterized by much lower volumes.
So? Because it is important?
Firstly because only a few weeks ago it was believed that certain products would never be approved, at least as long as Gary Gensler was there to hold the balance. Also opening the doors, who knows, to other ETF products on cryptocurrencies.#ETHEREUM
$ETH
In fact, the SEC's OK to #ETF Ethereum should arrive this week, the definitive OK that will launch these products on the US markets. Is this an issue that has already been taken for granted and therefore has little impact on the markets? There are some points that we would like to analyze with you, our readers, to understand what type of impact this further evolution will have for the crypto market and specifically for Ethereum. It is an OK that comes after all the managers, as requested by the same SEC, sent the necessary updates. There are two requests to be approved, we remind our readers, with the first ok which arrived already on May 23rd and the second which should arrive between today and next Monday at the latest. Who knows. We don't yet know how ready the managers are to advertise the product. In all likelihood there will be demand, somewhat tempered by a summer period which is historically characterized by much lower volumes.
So? Because it is important?
Firstly because only a few weeks ago it was believed that certain products would never be approved, at least as long as Gary Gensler was there to hold the balance. Also opening the doors, who knows, to other ETF products on cryptocurrencies.#ETHEREUM
$ETH
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#Bitcoinโ๏ธ COLLAPSES after news coming from Japan: 142,000 BTC distributed (and sold?) by MT.GoxThe (many) Bitcoins of #MtGox will begin to be distributed to their legitimate owners starting from July. This is what is circulating in the #crypto environment, for news that is based on an official statement from the Trustee who is following the operations.
It should be a sum of approximately 142,000 #BTCโฌ and approximately 143,000 bitcoin cash #BCH , together with a sum of approximately 500 million euros in yen, at least according to the most credible estimates recently also confirmed by The Block. It is news that has contributed to worsening an already terrible situation, as it is believed that an important part of those Bitcoins will be sold on the market by subjects who had acquired the rights at a discounted price. In other words, a take profit worth millions of dollars, which could bring negative pressure on the Bitcoin market.
$BCH $BTC
It should be a sum of approximately 142,000 #BTCโฌ and approximately 143,000 bitcoin cash #BCH , together with a sum of approximately 500 million euros in yen, at least according to the most credible estimates recently also confirmed by The Block. It is news that has contributed to worsening an already terrible situation, as it is believed that an important part of those Bitcoins will be sold on the market by subjects who had acquired the rights at a discounted price. In other words, a take profit worth millions of dollars, which could bring negative pressure on the Bitcoin market.
$BCH $BTC
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A wallet linked to Justin Sun acquired 9,338 #Ether , worth over $30 million. A purchase that demonstrates greater confidence in the future performance of #Ethereum(ETH) . In contrast, the #Bitcoin whales, influenced in particular by the German government, continue to liquidate their positions, increasing downward pressure on the market. Likewise, #Etf Bitcoin faces massive outflows. In contrast, Ethereum appears to be gaining renewed confidence, potentially setting the stage for a rise in altcoins. According to Michaรซl van de Poppe, Ethereum's resilience could herald a new era for #altcoin . The well-known analyst points out that the ETH/BTC pair, which has recently shown signs of strength, could trigger a significant rally in altcoins after more than two and a half years of downtrend. Van de Poppe believes that as long as the ETH/BTC pair holds above the key 0.05 level, a reversal of the trend will be possible. This analysis is based on on-chain data revealing increased Ethereum accumulation by whales, in contrast to Bitcoin liquidations. This technical signal indicates that the price of the Ethereum cryptocurrency could rise exponentially against the US dollar, resulting in positive dynamics for the entire altcoin market.
Institutional interest in cryptocurrencies other than Bitcoin continues to grow, as evidenced by the upcoming launch of Solana's Exchange Traded Product (ETP) in Canada. This trend reflects a diversification of institutional investment portfolios, once largely dominated by Bitcoin, towards alternative cryptocurrencies with attractive growth prospects.
Even BTC's dominant position, measured in terms of relative market share, is ready for a major trend reversal; it could favor a rotation of investors' liquidity towards altcoins and therefore amplify their performance.towards altcoins and amplify their performance.
Institutional interest in cryptocurrencies other than Bitcoin continues to grow, as evidenced by the upcoming launch of Solana's Exchange Traded Product (ETP) in Canada. This trend reflects a diversification of institutional investment portfolios, once largely dominated by Bitcoin, towards alternative cryptocurrencies with attractive growth prospects.
Even BTC's dominant position, measured in terms of relative market share, is ready for a major trend reversal; it could favor a rotation of investors' liquidity towards altcoins and therefore amplify their performance.towards altcoins and amplify their performance.
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#Polygon : the #MATIC token towards renaming to #POL The Polygon network has proposed a technical update to rename the native MATIC token to POL, as part of the roadmap towards version 2.0 of the Polygon network, the popular side-chain of Ethereum, as well as one of the its main scaling solutions, proposed to the community a technical update to rename the native MATIC token to POL.
The step is one of many on the path that will bring the chain to its 2.0 version, and would consist of the conversion of the MATIC token into Polygon (POL), to make the future possibility of staking the asset on multiple platforms more organic, secure and intuitive. ecosystem chain.
The main objective of the update, moreover, is to guarantee the scalability of the ecosystem without compromising its security.
The POL token, specifically, will work on all Polygon protocols, including Proof of Stake (PoS), #zkEVM and Supernet. And consequently allowing Polygon validators to protect transactions across different chains. Operationally, however, the update should have "simple" implications with respect to users, who would be required to send their MATICs to a specific smart contract and then have them returned in a equivalent measure of POL
The new life of Polygon
With respect to the timing of the update, Polygon has proposed a "grace period" of at least four years, to allow holders to complete the process without any rush or imposition, and allowing the community to adapt to the new token The community itself will now have to approve the update. And the vote, therefore, will determine the future steps of #chain , with the migration to POL which could begin within a few months, but with a pace determined step by step by the consensus of the community itself.$MATIC
The step is one of many on the path that will bring the chain to its 2.0 version, and would consist of the conversion of the MATIC token into Polygon (POL), to make the future possibility of staking the asset on multiple platforms more organic, secure and intuitive. ecosystem chain.
The main objective of the update, moreover, is to guarantee the scalability of the ecosystem without compromising its security.
The POL token, specifically, will work on all Polygon protocols, including Proof of Stake (PoS), #zkEVM and Supernet. And consequently allowing Polygon validators to protect transactions across different chains. Operationally, however, the update should have "simple" implications with respect to users, who would be required to send their MATICs to a specific smart contract and then have them returned in a equivalent measure of POL
The new life of Polygon
With respect to the timing of the update, Polygon has proposed a "grace period" of at least four years, to allow holders to complete the process without any rush or imposition, and allowing the community to adapt to the new token The community itself will now have to approve the update. And the vote, therefore, will determine the future steps of #chain , with the migration to POL which could begin within a few months, but with a pace determined step by step by the consensus of the community itself.$MATIC
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Despite FTX's collapse, centralized #exchange are key to mass crypto adoption
Hybrid, non-custodial crypto exchanges could help restore confidence in the #crypto sector, while remaining key to attracting new users. Centralized cryptocurrency exchanges (CEX) are still the key to attracting more users mainstream retail, as the sector recovers from the collapse of the FTX exchange.
Despite the collapse of the infamous exchange, which caused the loss of at least $8.9 billion in user funds, CEXs remain the first level of interaction for retail users purchasing their first cryptocurrencies.
According to Ruslan Fakhrutdinov, founder and CEO of cryptocurrency trading platform X10, the next 100 million retail users will likely enter the industry through CEXs. Speaking exclusively to Cointelegraph, Fakhrutdinov said centralized exchanges will likely drive user adoption:
โFor now, centralized exchanges are leading the pack. However, as new users enter the industry, it is much easier to move them from a centralized exchange to a hybrid one, rather than introducing them to a completely new context.โ The main reason why new investors opt for CEX is the element of trust in the underlying company, as well as a more intuitive #trading experience.#DeFi
Hybrid, non-custodial crypto exchanges could help restore confidence in the #crypto sector, while remaining key to attracting new users. Centralized cryptocurrency exchanges (CEX) are still the key to attracting more users mainstream retail, as the sector recovers from the collapse of the FTX exchange.
Despite the collapse of the infamous exchange, which caused the loss of at least $8.9 billion in user funds, CEXs remain the first level of interaction for retail users purchasing their first cryptocurrencies.
According to Ruslan Fakhrutdinov, founder and CEO of cryptocurrency trading platform X10, the next 100 million retail users will likely enter the industry through CEXs. Speaking exclusively to Cointelegraph, Fakhrutdinov said centralized exchanges will likely drive user adoption:
โFor now, centralized exchanges are leading the pack. However, as new users enter the industry, it is much easier to move them from a centralized exchange to a hybrid one, rather than introducing them to a completely new context.โ The main reason why new investors opt for CEX is the element of trust in the underlying company, as well as a more intuitive #trading experience.#DeFi
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๐๏ธNEW BANKING RULES
#cryptovalute , the new rules for banks are postponed by a year
The decision of the group made up of central bank governors and heads of supervision (GHOS) which reports to the Basel CommitteeThe international rules on the management by banks of their exposures to crypto assets will come into force in January 2026, one year after expected in the past. This was decided by a group made up of central bank governors and the head of supervision (GHOS) which reports to the Basel Committee. The decision was motivated by the need to ensure that all members fully implement the new rules. The consultation initiated by Ghos himself will continue until the end of this year at the end of which a further review is expected. The Basel Committee is the main reference body worldwide for the prudential regulation of banks and constitutes a forum for cooperation on banking supervision. Its mandate is to strengthen the regulation, supervision and practices of #banche s around the world with the aim of improving financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and requests its support for major decisions. The Committee has no formal supranational authority and its decisions have no legal value. Rather, the Committee relies on the commitment of its members to carry out its mandate. The Group of Central Bank Governors and Supervisory Heads is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Pablo Hernรกndez de Cos, governor of the Bank of Spain.
The decision of the group made up of central bank governors and heads of supervision (GHOS) which reports to the Basel CommitteeThe international rules on the management by banks of their exposures to crypto assets will come into force in January 2026, one year after expected in the past. This was decided by a group made up of central bank governors and the head of supervision (GHOS) which reports to the Basel Committee. The decision was motivated by the need to ensure that all members fully implement the new rules. The consultation initiated by Ghos himself will continue until the end of this year at the end of which a further review is expected. The Basel Committee is the main reference body worldwide for the prudential regulation of banks and constitutes a forum for cooperation on banking supervision. Its mandate is to strengthen the regulation, supervision and practices of #banche s around the world with the aim of improving financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and requests its support for major decisions. The Committee has no formal supranational authority and its decisions have no legal value. Rather, the Committee relies on the commitment of its members to carry out its mandate. The Group of Central Bank Governors and Supervisory Heads is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Pablo Hernรกndez de Cos, governor of the Bank of Spain.
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Price of #Polygon (MATIC) recovering after the 8-month low. Time to invest? In the last 24 hours the entire cryptocurrency market seems to have changed direction, in some cases quite sharply. In the previous phase we witnessed a general decline, during which Polygon recorded a major decline that pushed it down to an 8-month low.
Now, however, it could be the time for a recovery of the entire sector, with several cryptocurrencies having recorded an opposite movement in the last few hours which could be a first step towards a bullish trend.
Among these we find Chainlink (#link ), Uniswap (#UNI ), Near Protocol (#near ) and also Polygon (#MATIC ), which have all recorded an increase of around 5% in the last 24 hours. In the case of Near, the recovery was particularly interesting, having exceeded 7%.
But as regards Polygon (MATIC), we note that the price has been decreasing since the beginning of March, and a real trend reversal has not yet occurred. What we are seeing in these hours, however, could herald the start of an important recovery phase. At the time of writing this post, the price of MATIC stands at around $0.571, therefore still below $0.60, having suffered a significant decline in recent days. Among other things, the token recently hit its 8-month low.
Currently, however, the forecasts are positive, in fact if we consider the price level of $0.53 as the next critical support, given that MATIC is currently trading around $0.57, both a rebound from this support and a continuous recovery could trigger an increase until reaching a consolidation range between $0.75 and $0.64.
The problem is that otherwise, i.e. if MATIC were to break the support, then a bearish scenario would open up which would see the Polygon token fall below the $0.50 price level, heavily compromising the thesis of the imminent rise.$MATIC
Now, however, it could be the time for a recovery of the entire sector, with several cryptocurrencies having recorded an opposite movement in the last few hours which could be a first step towards a bullish trend.
Among these we find Chainlink (#link ), Uniswap (#UNI ), Near Protocol (#near ) and also Polygon (#MATIC ), which have all recorded an increase of around 5% in the last 24 hours. In the case of Near, the recovery was particularly interesting, having exceeded 7%.
But as regards Polygon (MATIC), we note that the price has been decreasing since the beginning of March, and a real trend reversal has not yet occurred. What we are seeing in these hours, however, could herald the start of an important recovery phase. At the time of writing this post, the price of MATIC stands at around $0.571, therefore still below $0.60, having suffered a significant decline in recent days. Among other things, the token recently hit its 8-month low.
Currently, however, the forecasts are positive, in fact if we consider the price level of $0.53 as the next critical support, given that MATIC is currently trading around $0.57, both a rebound from this support and a continuous recovery could trigger an increase until reaching a consolidation range between $0.75 and $0.64.
The problem is that otherwise, i.e. if MATIC were to break the support, then a bearish scenario would open up which would see the Polygon token fall below the $0.50 price level, heavily compromising the thesis of the imminent rise.$MATIC
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โAll ready to go๐โ๏ธ
The cryptocurrency universe is in turmoil. #SEC 's recent decision to abandon its investigation into #ETHEREUM (ETH) has brought a wave of optimism to the market. Investors see this news as a promising sign for the future of #Ethereum(ETH) and #altcoin . So, what are the implications of this decision for the price of ETH and other cryptocurrencies? The SEC's decision to stop investigating Ethereum is a win for the network. For a long time, the classification of ETH as a security was a dark cloud hanging over the heads of investors and developers. This investigation has weighed heavily on the ecosystem, creating uncertainty and mistrust. By removing this sword of Damocles, the SEC has paved the way for greater adoption of ETH. Laura Brookover, an attorney at Consensys, said cryptocurrency markets โwill no longer see protests from the SEC claiming ETH is a security.โ
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#ETHEREUM at $10,000 is the 'most asymmetric' bet on the #Cryptocurrencies market, an analyst claims According to the well-known crypto-analyst Tyler, the odds that #Ethereum(ETH) will reach $10,000 are surprisingly high. In a post on X on June 16 he wrote:
โTo date, the most asymmetric bet in the crypto market is Ethereum at $10,000. As irritating as it is, this is the current state of the market. Our goal is to trade with logic, not emotion.โ
Will #Etf be able to push #eth up?
Despite bullish forecasts, Ether is struggling to surpass the psychological threshold of $4,000. Furthermore, the price is currently down around 30% from its all-time high of $4,891, reached in November 2021. A hypothetical rise towards $10,000 would therefore imply a surge of almost 3x from current levels.
The upcoming launch of Ether spot ETFs in the US could help in this regard. Eric Balchunas, ETF Analyst at Bloomberg, expects trading of these ETFs to begin on July 2. But officially, the United States Securities and Exchange Commission has provided a rather vague time horizon: by the end of September. The price of Ether could undergo a breakout also thanks to a potential supply squeeze, given that the number of $ETH on exchanges reached its lowest levels in eight years. What do you think?? ๐๐ค
โTo date, the most asymmetric bet in the crypto market is Ethereum at $10,000. As irritating as it is, this is the current state of the market. Our goal is to trade with logic, not emotion.โ
Will #Etf be able to push #eth up?
Despite bullish forecasts, Ether is struggling to surpass the psychological threshold of $4,000. Furthermore, the price is currently down around 30% from its all-time high of $4,891, reached in November 2021. A hypothetical rise towards $10,000 would therefore imply a surge of almost 3x from current levels.
The upcoming launch of Ether spot ETFs in the US could help in this regard. Eric Balchunas, ETF Analyst at Bloomberg, expects trading of these ETFs to begin on July 2. But officially, the United States Securities and Exchange Commission has provided a rather vague time horizon: by the end of September. The price of Ether could undergo a breakout also thanks to a potential supply squeeze, given that the number of $ETH on exchanges reached its lowest levels in eight years. What do you think?? ๐๐ค
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โโ๐ SOLANA ๐โโ
Pantera capital believes #Solana will dominate the sector #blockchain and compares its rise to Apple's breakthrough with macOS
Pantera believes that the blockchain industry will converge around a few key networks and that #SOL 's integrated approach is poised to capture a significant share of this consolidation. A recent report from Pantera Capital highlighted the potential of Solana ( SOL ) to become a dominant player in the blockchain ecosystem, drawing parallels between its monolithic architecture and Apple's macOS.
Pantera believes that the blockchain industry will converge around a few key networks and that #SOL 's integrated approach is poised to capture a significant share of this consolidation. A recent report from Pantera Capital highlighted the potential of Solana ( SOL ) to become a dominant player in the blockchain ecosystem, drawing parallels between its monolithic architecture and Apple's macOS.
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#POL #Polygon #MATICโ
#MATIC #MATIC๐ฅ๐ฅ MATIC's bearish week turns bullish? Analysts predict a surge to $4-5 ๐ค๐ โ๏ธโ๏ธPolygon was testing a critical support level of a bullish pattern, hinting at a massive bullish rally in the coming days.Polygon has been consolidating within the pattern since 2021 .investors could see a massive bullish rally. In fact, the rally could even push MATIC towards $4 or $5 in the coming months.
$MATIC What do you think??
$MATIC What do you think??
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๐ฅธ ๐ซธ Italia Crypto ๐๐๐ธ๐ซฃ
#italia #Cryptocurrencies #MiCA #DeFi #Binance ๐ฎ๐นItaly is ready to adopt more stringent rules for the crypto market, to guarantee a more reliable trading environment. Italy is preparing to strengthen supervision of cryptocurrency markets, aligning with the EU MiCA regulatory framework.
The new regulations aim to combat and punish insider trading and market manipulative schemes, introducing more severe rules and sanctions for violations.
The new regulations aim to combat and punish insider trading and market manipulative schemes, introducing more severe rules and sanctions for violations.
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๐๏ธ๐ฏETF ETHEREUM๐๐๐โ ๏ธ
#ETHEREUM #Etf #ETHETFS #bullish #News $ETH ๐ฏ๐๏ธ๐ง๐๐๐ ETF ETHEREUM โ
๏ธWhen in Italy will it be late evening of Friday June 21st, we should see the long-awaited updates for Ethereum ETFs in the USA. This is a purely procedural issue, but still necessary to see the launch of these products on the stock exchange.
According to the most convincing rumors that have been circulating for some time among the journalists closest to Washington and New York, SEC has given today as the deadline for sending updates from all managers, updates which will have to include small changes, as well as requested precisely by the agency that governs the US markets, i.e. SEC. Yes, it should be the last step, subject to last minute changes. SEC would have imposed, according to the most credible of the rumors that have been circulating among the most knowledgeable journalists for some time now, the updating of the S-1 forms of the ETFs on Ethereum.
According to the most convincing rumors that have been circulating for some time among the journalists closest to Washington and New York, SEC has given today as the deadline for sending updates from all managers, updates which will have to include small changes, as well as requested precisely by the agency that governs the US markets, i.e. SEC. Yes, it should be the last step, subject to last minute changes. SEC would have imposed, according to the most credible of the rumors that have been circulating among the most knowledgeable journalists for some time now, the updating of the S-1 forms of the ETFs on Ethereum.
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Bitcoin reserves on exchanges hit a 3-year low. #Bitcoin ๐๐ณ๐ฏ
Low reserves on exchanges indicate low selling pressure and could trigger a supply shock as institutional investors continue to accumulate Bitcoin. According to data as of June 19, 2024, the #BTCโฌ exchange reserve, or the total amount of Bitcoin available on exchanges exchange, fell to 3-year lows.๐๐๐๐ช
CryptoQuant analyzes have revealed that there are currently 2,825,703 Bitcoins left out of the #exchange
In the month of January 2024, the exchange balance was approximately 3,039,000.
Low exchange reserves, sometimes called exchange balances, indicate low selling pressure and a potential supply shock due to the relatively low supply available for purchase. He told his interviewer, "This is really the first wave of early adopters , and I believe that the next one will be that of the larger institutions".๐ซฃ๐๐๐ธ
If Johnson's prediction proves true, institutional capital will continue to flow into Bitcoin, putting further pressure on exchanges' limited supply in the coming months.
#halving of April 2024 ๐๏ธ
Furthermore, following the April 2024 halving, the supply of Bitcoin is further limited by the decrease in the block reward for mining.
Before the latest halving, #miner received 6.25 BTC for each successfully mined block, now they receive 3.125. $BTC
Low reserves on exchanges indicate low selling pressure and could trigger a supply shock as institutional investors continue to accumulate Bitcoin. According to data as of June 19, 2024, the #BTCโฌ exchange reserve, or the total amount of Bitcoin available on exchanges exchange, fell to 3-year lows.๐๐๐๐ช
CryptoQuant analyzes have revealed that there are currently 2,825,703 Bitcoins left out of the #exchange
In the month of January 2024, the exchange balance was approximately 3,039,000.
Low exchange reserves, sometimes called exchange balances, indicate low selling pressure and a potential supply shock due to the relatively low supply available for purchase. He told his interviewer, "This is really the first wave of early adopters , and I believe that the next one will be that of the larger institutions".๐ซฃ๐๐๐ธ
If Johnson's prediction proves true, institutional capital will continue to flow into Bitcoin, putting further pressure on exchanges' limited supply in the coming months.
#halving of April 2024 ๐๏ธ
Furthermore, following the April 2024 halving, the supply of Bitcoin is further limited by the decrease in the block reward for mining.
Before the latest halving, #miner received 6.25 BTC for each successfully mined block, now they receive 3.125. $BTC
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#MicroStrategy #Bitcoin #Marketupdate #MicroStrategyMoves
MicroStrategy announced that it has purchased an additional 11,931 BTC, for a value of around $800 million. MicroStrategy doesn't stop
MicroStrategy, one of the major Bitcon holder companies, announced in the last few hours that it had purchased 11,931 BTC at an average price of 65,883 dollars ($786 million in total).
According to the same statement, Michael Saylor's company currently owns 226,331 BTC, for an average load price of around $36,000.
We had become accustomed to news of this kind, but it is still impressive to see how the company's commitment towards BTC is solid even in moments of greater market volatility.
Bitcoin, in recent days, is struggling to keep alive the hopes of a recovery of the psychological support of $70 thousand, but the selling pressure seems to have become particularly heavy, leading BTC to touch a local minimum at $64k. BTC awaits new catalyst events
At the same time, in the last few hours the short-term trend seems to be bullish, with a +1.5% for BTC at the opening of the European markets followed by a +2% for Ethereum.
Life seems particularly difficult for the altcoin market, with good performances for Avalanche (+3.9%) and XRP (+1.5%) which however seem to be the consequence of increasing volatility and a harbinger of new declines. Especially for SOL (now a competitor of Ethereum), there is a fear of a bearish strategy on the part of traders, in anticipation of the listing of ETH spot ETFs.
Precisely these could be the turning point for a market that does not seem to find the energy for new bullish movements in a context in which there is no shortage of positive news. One above all, the recent listing of VanEck's BTC spot ETF on the Australian Securities Exchange (ASX), the largest stock exchange in the country.$BTC
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MicroStrategy announced that it has purchased an additional 11,931 BTC, for a value of around $800 million. MicroStrategy doesn't stop
MicroStrategy, one of the major Bitcon holder companies, announced in the last few hours that it had purchased 11,931 BTC at an average price of 65,883 dollars ($786 million in total).
According to the same statement, Michael Saylor's company currently owns 226,331 BTC, for an average load price of around $36,000.
We had become accustomed to news of this kind, but it is still impressive to see how the company's commitment towards BTC is solid even in moments of greater market volatility.
Bitcoin, in recent days, is struggling to keep alive the hopes of a recovery of the psychological support of $70 thousand, but the selling pressure seems to have become particularly heavy, leading BTC to touch a local minimum at $64k. BTC awaits new catalyst events
At the same time, in the last few hours the short-term trend seems to be bullish, with a +1.5% for BTC at the opening of the European markets followed by a +2% for Ethereum.
Life seems particularly difficult for the altcoin market, with good performances for Avalanche (+3.9%) and XRP (+1.5%) which however seem to be the consequence of increasing volatility and a harbinger of new declines. Especially for SOL (now a competitor of Ethereum), there is a fear of a bearish strategy on the part of traders, in anticipation of the listing of ETH spot ETFs.
Precisely these could be the turning point for a market that does not seem to find the energy for new bullish movements in a context in which there is no shortage of positive news. One above all, the recent listing of VanEck's BTC spot ETF on the Australian Securities Exchange (ASX), the largest stock exchange in the country.$BTC
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๐ฃ Doesn't Mica have anything to do with it ๐ซฃ๐๐คโ๏ธ
in Europe ๐ซ STOP stablecoins โ๏ธ
#USDTdominance #stablecoin
Tether is entering new territory with the launch of Alloy (aUSDT), a gold-backed stablecoin pegged to the US dollar. According to Tether, Alloy will be overcollateralized by Tether Gold (XAUt), a token that represents ownership of physical gold, while being pegged to the US dollar. This arrangement makes Alloy a synthetic dollar, designed to emulate the value and functionality of the US dollar without direct backing. Tether's Alloy is an open platform that allows for the creation of diverse tied assets with broader backing mechanisms, potentially including yield products . This technology provides a modern approach to asset management for institutions too, offering a secure digital asset, backed by gold, that can be integrated into portfolios. Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, both licensed by the CNAD in El Salvador, will manage Tether's issuance and management of Alloy, meeting multiple customer segments and regulatory requirements.
โWe are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tied to a fiat reference currency,โ said Paolo Ardoino, CEO of Tether. โWhile the stabilization mechanism is different than traditional options like USDโฎ, this innovative solution marks a milestone and we are eager to understand how it will interact with the rest of the market. Additionally, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well.โ#tether #Bitcoin #Binance
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in Europe ๐ซ STOP stablecoins โ๏ธ
#USDTdominance #stablecoin
Tether is entering new territory with the launch of Alloy (aUSDT), a gold-backed stablecoin pegged to the US dollar. According to Tether, Alloy will be overcollateralized by Tether Gold (XAUt), a token that represents ownership of physical gold, while being pegged to the US dollar. This arrangement makes Alloy a synthetic dollar, designed to emulate the value and functionality of the US dollar without direct backing. Tether's Alloy is an open platform that allows for the creation of diverse tied assets with broader backing mechanisms, potentially including yield products . This technology provides a modern approach to asset management for institutions too, offering a secure digital asset, backed by gold, that can be integrated into portfolios. Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, both licensed by the CNAD in El Salvador, will manage Tether's issuance and management of Alloy, meeting multiple customer segments and regulatory requirements.
โWe are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tied to a fiat reference currency,โ said Paolo Ardoino, CEO of Tether. โWhile the stabilization mechanism is different than traditional options like USDโฎ, this innovative solution marks a milestone and we are eager to understand how it will interact with the rest of the market. Additionally, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well.โ#tether #Bitcoin #Binance
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๐๏ธ ETH ETF ๐บ๐ฒ ๐ โโโโโ
#Etf #Bitcoin #ETHEREUM #EthereumETF #ETHETFS NEW crypto ETFs in the USA: Bitcoin and Ethereum together in an INNOVATIVE product. OK request received from SEC! Bitcoin and Ethereum together in a single ETF: the first request for approval arrives. The world of crypto ETFs in the USA continues to grind out news: Hashdex has sent a request for approval for a new product which will have both Bitcoin, both Ethereum. Both assets will be effectively held - it is indeed a spot product - in a ratio of approximately 70/30.
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#Binance #Bitcoin #HOLD #Tranding
๐๏ธ๐ค๐๏ธ๐ค๐๏ธ#News
Bitcoin under $70k? For QCP Capital, โa golden opportunityโ
Data relating to the US labor market have caused Bitcoin to stumble below $70k in recent days, but for some analysts it could just be an opportunity. In recent days, Bitcoin has failed to maintain a share above 70 thousand dollars, consequently losing fundamental psychological support to be able to hope for a new rise.
As already reported, BTC mainly pays the bill from the US economy, whose labor market data far exceeded forecasts (272,000 new jobs against 185,000).
The data as such is not bad in itself, but it seems to once again trigger strong "risk aversion" among investors, who at this point are also on alert regarding the next FOMC and the Fed's decision on interest rates.
Inflation remains the main problem, and the bullish strategy of investors on the markets depends on a cut in interest rates, potentially favorable for BTC. However, there are those who also see an opportunity in this "stumble", such as the trading company QCP Capital, which in a recent report described the current scenario as an "opportunity" for investors.
According to the company, a rise in BTC still remains the most likely scenario, starting precisely from the macro data. To begin with, the US labor market data itself reveals an increase in the unemployment rate, while throughout the world several states have already lowered interest rates, starting with Europe with the ECB.
โIt will be difficult for the US to ignore this while the rest of the world continues to cut rates,โ QCP Capital said.
CME Group predicts that, for the next FOMC, interest rates will remain unchanged with a probability of 99.4%. However, the hope of seeing at least two cuts by 2024, starting in September, remains concrete.
๐๏ธ๐ค๐๏ธ๐ค๐๏ธ#News
Bitcoin under $70k? For QCP Capital, โa golden opportunityโ
Data relating to the US labor market have caused Bitcoin to stumble below $70k in recent days, but for some analysts it could just be an opportunity. In recent days, Bitcoin has failed to maintain a share above 70 thousand dollars, consequently losing fundamental psychological support to be able to hope for a new rise.
As already reported, BTC mainly pays the bill from the US economy, whose labor market data far exceeded forecasts (272,000 new jobs against 185,000).
The data as such is not bad in itself, but it seems to once again trigger strong "risk aversion" among investors, who at this point are also on alert regarding the next FOMC and the Fed's decision on interest rates.
Inflation remains the main problem, and the bullish strategy of investors on the markets depends on a cut in interest rates, potentially favorable for BTC. However, there are those who also see an opportunity in this "stumble", such as the trading company QCP Capital, which in a recent report described the current scenario as an "opportunity" for investors.
According to the company, a rise in BTC still remains the most likely scenario, starting precisely from the macro data. To begin with, the US labor market data itself reveals an increase in the unemployment rate, while throughout the world several states have already lowered interest rates, starting with Europe with the ECB.
โIt will be difficult for the US to ignore this while the rest of the world continues to cut rates,โ QCP Capital said.
CME Group predicts that, for the next FOMC, interest rates will remain unchanged with a probability of 99.4%. However, the hope of seeing at least two cuts by 2024, starting in September, remains concrete.
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#Bitcoin #Cryptocurrencies #support #Holding ๐ค๐ฌThe price of Bitcoin is crucial at $66,000
Bitcoin swings towards the lower end of the stubborn trading range as traders scramble for signs of a turn.
A difficult week ends for the bulls, with BTC/USD down 4.3% at the weekly close, as confirmed by Cointelegraph Markets Pro and TradingView. After hitting one-month lows, the bulls managed to make a modest trend reversal to bring the market focus back to $66,000, a level still in play today. For the next week it is essential that Bitcoin maintains support at $66,000: if broken, sellers could take a strong position on the market and force bulls into rapid liquidations ๐ตโ๐ซ๐ต
$BTC
Bitcoin swings towards the lower end of the stubborn trading range as traders scramble for signs of a turn.
A difficult week ends for the bulls, with BTC/USD down 4.3% at the weekly close, as confirmed by Cointelegraph Markets Pro and TradingView. After hitting one-month lows, the bulls managed to make a modest trend reversal to bring the market focus back to $66,000, a level still in play today. For the next week it is essential that Bitcoin maintains support at $66,000: if broken, sellers could take a strong position on the market and force bulls into rapid liquidations ๐ตโ๐ซ๐ต
$BTC
