Crypto Market News: The Bitcoin price exceeded $27,000 after news broke of President Joe Biden and top Republican Kevin McCarthy reaching the debt ceiling deal in-principle. President Biden confirmed the deal in his Twitter post, saying it was “an important step forward that reduces spending.” The President acknowledged that without the deal, the US economy would have seen a catastrophic d...
Another centralized exchange (CEX) bites the dust, with Hotbit announcing it will close operations due to adverse business conditions. As is common among CEX collapses in recent months, the crypto firm mentioned FTX, the ongoing banking system crisis, and even a probe as reasons for its cash flow problems.Also facing a tough time is wallet provider Ledger. The company decided to postpone its controversial recovery service amid community bac...
Crypto Market News: The U.S. Securities and Exchange Commission’s (SEC) complaint against Ripple already caused irreversible damage to the XRP community and the crypto market. However, the SEC’s recent enforcement actions against crypto businesses makes one wonder if the companies under question may be in for a long drawn legal fight. Brad Garlinghouse, the Ripple CEO, recently stressed th...
Glassnode tweeted Bitcoin transfer volume sent by long-term holders in profit has surged by almost 2000% YTD.
Current profitable transfer volume for BTC is $1.24B, 71.4% lower than the peak during the 2021 Bull Market.
The 6-month to 12-month cohort of long-term holders are the largest spenders.
Data analytics platform Glassnode reported that the Bitcoin transfer volume sent by long-term holders in profit has experienced a noteworth...
Prominent market expert, John Hussman, renowned for his accurate predictions of previous market crashes, is warning of an impending bear market. Having successfully called out the dot-com crash and the Global Financial Crisis, Hussman believes that current conditions are aligning for another significant market downturn.
Valuations & Investor Sentiment Raise Concerns
Hussman relies on tw...
Venture capital fund Andreessen Horowitz, also known as A16z, has released a Solidity library that can be used for anonymous voting on Ethereum. Called “Cicada,” the library prevents an individual voter’s choice from being known before polling ends. When combined with zero-knowledge group membership systems like Semaphore, it can also make the identity of the voter permanently unknowable, according to a May 24 blog post from A16z engineer M...
The International Monetary Fund (IMF) recommends the US Federal Reserve to keep raising interest rates for a longer period to bring inflation under control. The IMF also urged the Biden Administration to tighten fiscal policy to reduce federal debt. This would see a 25 bps rate hike in June by the Fed.
IMF Managing Director Kristalina Georgieva said the U.S. Congress also needs another way...
A long time bitcoin hater Peter Schiff seems to finally have a change of heart as he announced to drop an NFT collection on the Bitcoin network.
One of Bitcoin’s most vocal skeptics who has spent the last decade trying to convince Bitcoiners that BTC is worthless is bullish on Ordinals.
Economist and an adamant gold proponent unveiled a collaborative nonfungible token (NFT) art collecti...
Bitcoin remains pinned below $27,000, and the recent weakness of the past few days has increased calls from analysts for a fall to the low $20,000 levels. While anything is possible, the bulls are unlikely to give up the $25,000 support without putting up a fight.Glassnode’s lead on-chain analyst Checkmate said in his comments on May 24 that the sell-side risk ratio metric suggests that “sellers are exhausted on both sides,” and that indica...
Crypto News: Bitcoin, the flagship cryptocurrency famous for its turbulent price swings, has been uncharacteristically stable in recent times, surprising investors and market observers. With the longest streak of calm since October 2020, Bitcoin has shown a lack of volatility, contrary to its reputation for dramatic ups and downs.
Serenity Amidst Bitcoin’s Usual Volatility
Bitcoin’s typica...
