Author: Crypto News Live
The crypto industry in the U.S. is facing its greatest challenge in the history of its nascent existence. After steadily ramping up anti-crypto rhetoric and the enforcement of securities laws in recent years, the United States Securities and Exchange Commission (SEC), led by Chair Gary Gensler, filed civil lawsuits against the largest crypto exchanges in existence — Binance and Coinbase —during the week of June 5, 2023. The legal action removed any doubt regarding the regulatory body’s commitment to what many — even dissenting SEC Commissioners — have labeled a “regulation by enforcement” approach to the industry. However, the SEC’s…
Crypto market sentiment hits rock bottom as legal battles and price decline instill fear. Market cap sees a decline as negative sentiment catches up with prices. When news broke out about the legal battles involving Binance and Coinbase, the crypto market experienced a blend of responses. Ripple (XRP), among other crypto assets, displayed indications of separating itself from the market trend by showing resilience, while the overall market witnessed a downturn. Nevertheless, emerging reports indicated that the prevailing sentiment across the entire market has turned predominantly negative. The crypto market suffers negative sentiments New data from Santiment revealed that the…
Shortly after the US Fed’s announcement about pausing the interest rate hikes, bitcoin took a sharp turn south and dropped to a multi-month low. Most altcoins are in even worse shape, with ETH, XRP, ADA, DOT, LTC, AVAX, and many others dumping by 5-7%. BTC Slumps Below $25K Last week didn’t go all that well for BTC, despite its recovery on Tuesday following the lawsuits from the SEC against Binance and Coinbase. As the weekend approached, bitcoin dumped once again from $27,000 to under $26,000. The weekend itself was somewhat more positive as BTC stood at around $26,000. The first…
BTC recorded better growth than Gold since the U.S. banking crisis. BTC has shown increased decoupling from Gold in recent months. Ravaged by the bear market phase of 2022, the world’s largest digital asset by market cap Bitcoin [BTC] saw a relief rally in 2023, resulting in a 50% year-to-date (YTD) price increase. Notably, this bull run has boosted its value relative to Gold [XAU]. According to a tweet by on-chain analytics firm Glassnode dated 14 June, it required 13.3 ounces of Gold to buy a single Bitcoin, a significant increase of 46% seen since the start of the year.…
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. H4’s market structure was bearish at the time of writing. ATOM’s derivative data was negative at press time. Despite the mild short-term recovery on lower timeframe charts at the time of writing, Cosmos [ATOM] still faces an uphill task. ATOM shed over 20% of its value, dropping from $10.2 to $7.8 after the US SEC categorized it as a “security.” Read Cosmos [ATOM] Price Prediction 2023-24 It recovered slightly in the past few days, crossing the $8 level. But…
Francis X. Suarez, the two-term mayor of Miami and noted advocate for Bitcoin and blockchain technology, has officially filed paperwork to run for the U.S. presidency in 2024. He will be running as a Republican candidate, according to documents released by the U.S. Federal Election Commission on June 14. Affectionately dubbed the “Bitcoin Mayor,” Suarez’s entry into the presidential race highlights the increasing political relevance of cryptocurrency in American politics. Suarez, a Cuban American and a former president of the bipartisan U.S. Conference of Mayors, will seemingly be the sole Latino GOP candidate and is undoubtedly charting a path toward…
TL;DREthereum creator (aka ‘ETH Daddy’), Vitalik Buterin just outlined three big changes the network is going to have to go through if it wants to succeed.Layer 2 rollups, which allow more transactions to be processed every second. Without them, ETH won’t be able to scale to millions/billions of concurrent users.Smart contract wallets would allow users to mimic a bunch of different banking/credit card-style functionality. E.g. fully automated payments (like subscriptions).Privacy. Blockchain transactions are completely public right now, meaning anyone can see how much crypto you have/how you spend it. Not great!Full StoryEthereum creator (aka ‘ETH Daddy’), Vitalik Buterin just outlined…
A popular analyst says that leading meme crypto asset Dogecoin (DOGE) could spark a rally by the end of the year or early 2024. In a new video update, Nicholas Merten, the host of DataDash, tells his 511,000 YouTube subscribers that smart money tends to accumulate altcoins like DOGE once they’re at a heavily discounted price. According to Merten, once Dogecoin is about 95% from its all-time high, blue-chip accumulation should begin. “Smart money, the accumulators, are looking at these prior discount ranges, they’re looking to build positions around these ranges. I think, generally speaking, that we’re going to be…
Key highlights:The total cryptocurrency market cap decreased from $ 1.07T to $ 1.03T in the past 24 hours, representing a -3.22% changeThe Bitcoin price at press time is $ 25,037 after falling by -3.13% in the last 24 hoursThe total crypto trading volume decreased by -3.22% in the past 24 hours, and is currently at $ 179.85BAll prices and changes are presented at the time of publication: June 15, 2023, at 06:00 UTCMarket OverviewThe total cryptocurrency market cap is currently $ 1.03T after a -3.22% decrease on the day. The total crypto trading volume declined by -3.22% in the same time frame.Bitcoin is trading at…
Bitcoin miners weather revenue dip and remain profitable despite market sentiment. Negative netflow suggests miners and holders hold onto Bitcoin despite declining values. Bitcoin miners experienced a downward spiral in their earnings as the prevailing market sentiment took a toll. Nevertheless, emerging reports indicate that miners managed to maintain a certain level of profitability despite the challenging conditions. Read Bitcoin (BTC) Price Prediction 2023-24 Bitcoin miner revenue sees sharp plunge June 14 witnessed a notable decline in revenue for Bitcoin miners. According to data from Blockchain.com, their earnings amounted to approximately $20.9 million that day. This figure starkly contrasted with…
