Bitcoin Price
Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi
This past week, the decentralized finance (DeFi) ecosystem faced the brunt of the bears fueled by liquidation rumors of Three Arrow Capital (3AC) and Celsius liquidations. MakerDAO decided to cut off Aave (AAVE) from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of staked Ether (stETH). Trading firm 8 Blocks Capital called out to platforms holding funds owned by 3AC to freeze the assets as rumors of 3AC’s insolvency stay afloat. Micheal Saylor believes Bitcoin (BTC) and the Lightning Network can solve many of the DeFi ecosystem problems. The top 100 DeFi tokens were hit hard by bears, with the majority of tokens registering multi-month low along with double-digit losses over the past week. Crypto crash wreaking havoc on DeFi p...
5 indicators traders can use to know when a crypto bear market is ending
The bull market is gone and the reality of a long crypto winter is surely giving traders a bad case of the shivers. Bitcoin’s (BTC) price has fallen to lows not even the bears expected, and some investors are likely scratching their heads and wondering how BTC will come back from this epic decline. Prices are dropping daily, and the current question on everyone’s mind is: “when will the market bottom and how long will the bear market last?” While it’s impossible to predict when the bear market will end, studying previous downtrends provides some insight into when the phase is coming to a close. Here’s a look at five indicators that traders use to help know when a crypto winter is coming to a close. The crypto industry begins to recover One of the classic signs that a crypto winter ha...
Further downside is expected, but multiple data points suggest Bitcoin is undervalued
The outlook across the cryptocurrency ecosystem continue to dim as the sharp downtrend that was initially sparked by the collapse of Terra now appears to have claimed the Singapore-based crypto venture capital firm Three Arrows Capital (3AC) as its next victim. As large crypto projects and investment firms begin to collapse on a weekly basis, the prospect of a long, drawn out bear market is a reality investors are beginning to accept. Based on a recent Twitter poll conducted by market analyst and pseudonymous Twitter user Plan C, 41.6% of respondents indicated that they thought the Bitcoin (BTC) bottom will fall between the $17,000 to $20,000 range. Total Bitcoin supply in profit held by short-term holders. Source: Twitter Addresses holding at least 1 BTC hits a new ...
Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K
Bitcoin’s (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market. Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of 9,476. The rise in exchange flows indicates miners are currently selling their BTC in anticipation of the price going down. The actions of the BTC miners often reflect the larger market sentiment as they mostly sell BTC to ensure they don’t incur losses on their mining rewards. The rise in Bitcoin miners selling activity is backed by the significant decline in mining profitab...
Are Phishing Attacks Targeting Crypto on the Rise?
Image sourced from Shutterstock. Experts at Russian cybersecurity company Kaspersky have taken a close look at the phishing pages aimed at potential crypto investors as well as the malicious files that are distributed under the names of the 20 most popular cryptocurrency wallets. Since the beginning of 2022, Kaspersky products detected and prevented almost 200,000 attempts to steal users’ digital currencies and credentials to their wallets via phishing, according to the company. The number of such attempts almost reached 50,000 in April, which is half of the indicators for the first quarter of 2022. Crypto wallets are the primary target for scamming and malicious activity. With the boom in digital currencies observed over the past five years, Kaspersky has seen various new cybercriminal ta...
Taxes of top concern behind Bitcoin salaries, Exodus CEO says
Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday. Since launching its software crypto wallet back in 2015, Exodus has been paying its staff 100% in BTC, Exodus co-founder and CEO JP Richardson told Cointelegraph. The company continued to pay all its 300 employees in BTC even during major market downturns, by providing monthly payroll based on their salary in U.S. dollars. “For example, if Bitcoin is $30,000 per token, and someone makes $15,000 a month, they’ll get half a Bitcoin on the first of that month,” Richardson noted. In addition to converting each salary to BTC each month, Exodus also adds a small percentage to every “paycheck” to account for th...
Taxes of top concern behind Bitcoin salaries, Exodus CEO says
Major cryptocurrency wallet provider Exodus continues paying its employees in Bitcoin (BTC) despite the ongoing bear market, with the total market cap dropping below $1 trillion on Monday. Since launching its software crypto wallet back in 2015, Exodus has been paying its staff 100% in BTC, Exodus co-founder and CEO JP Richardson told Cointelegraph. The company continued to pay all its 300 employees in BTC even during major market downturns, by providing monthly payroll based on their salary in U.S. dollars. “For example, if Bitcoin is $30,000 per token, and someone makes $15,000 a month, they’ll get half a Bitcoin on the first of that month,” Richardson noted. In addition to converting each salary to BTC each month, Exodus also adds a small percentage to every “paycheck” to account for th...
How to survive in a bear market? Tips for beginners
Usually, bear markets bring about a feeling of uncertainty in any investor. Even more so for a newcomer, for whom it can feel like the end of the world. It may even be common knowledge that during bull cycles, investors are sure of making gains. Whereas in bear markets such as this, an unimaginable amount of pessimism sets in. The co-founder and strategic lead at the Kylin Network, Dylan Dewdney, told Cointelegraph that the two major mistakes that investors make while feeling anxious are “One, over-investing and two, not investing with conviction.” “You need to find the sweetspot where you have enough conviction in your investments while managing the resources devoted to them such that you are 100% comfortable with being patient for a long time. Lastly, bear markets are where the magic rea...
Here’s how blockchains are helping to advance the global energy grid
The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the yearly energy consumed by some small countries. Historical Bitcoin network power demand. Source: CCAF While much of the debate has centered around the negative environmental impacts of Bitcoin (BTC) mining, the drive to maximize earnings from mining and integrate blockchain technology with the energy grid has also introduced new developments that have the potential to be beneficial in the long term. Here’s a look at several developments that have arisen out of ...
Ethereum eyes fresh yearly lows vs. Bitcoin as bulls snub successful ‘Merge’ rehearsal
Ethereum’s native token Ether (ETH) resumed its decline against Bitcoin (BTC) two days after a successful rehearsal of its proof-of-stake (PoS) algorithm on its longest-running testnet “Ropsten.” The ETH/BTC fell by 2.5% to 0.0586 on June 10. The pair’s downside move came as a part of a correction that had started a day before when it reached a local peak of 0.0598, hinting at weaker bullish sentiment despite the optimistic “Merge” update. ETH/BTC four-hour price chart. Source: TradingView Interestingly, the selloff occurred near ETH/BTC’s 50-4H exponential moving average (50-4H EMA; the red wave) around 0.06. This technical resistance has been capping the pair’s bullish attempts since May 12, as shown in the chart above. Staked Ether behind ...
Bitcoin price recovers $31.5K, but traders say ‘scam’ price action will bring more downside
Bitcoin’s (BTC) short-term price action has been dominated by whipsaws that trigger around the $31,000 to $32,000 level and the June 6 reversal at this point triggered a quick sell-off that pushed the price down to $29,200. Surprisingly, on June 7, the price rapidly reversed course as Bitcoin rallied back to $31,500, but given the current rejection at this level, traders are likely to proceed cautiously, rather than expect a quick surge to $35,000. BTC/USDT 1-day chart. Source: TradingView Here’s what several analysts are saying about the short-term outlook for BTC and what support levels to keep an eye on moving forward. A clear redistribution range The range-bound trading currently impacting Bitcoin was addressed by crypto analyst and pseudonymous Twitter user il Capo of Crypto, wh...
Ethereum 2.0 vs. the top Ethereum killers|The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts give you the details about Ethereum 2.0, its main competitors, and how they differ from each other. To kick things off, we break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown: Bitcoin ‘Bart Simpson’ returns as BTC price dives 7% in hours: Bitcoin (BTC) price action failed to crack $32,000 and headed back to square one, sparking $60 million of long liquidations in the process. How much longer will we stay in the current price range? What is it going to take for Bitcoin to break out from here? Bad day for Binance with SEC investigation and Reuters exposé: The United States Securities and Exchange Commission...
