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Bitcoin Price Analysis: Can BTC Reclaim $90K This Week?
Bitcoin is currently traversing a narrow price range, ensnared between the support level of $78K and resistance indicated by the 200-day moving average at $83K. Observers are keenly watching for a breakout from this constricted range, as it is likely to dictate the next major movement in the market. Technical Analysis By Shayan The Daily…
Continue ReadingUS House Votes to Overturn IRS DeFi Broker Rule
The recent passage of H.J. Res 25 by the U.S. House of Representatives marks a significant shift in the regulatory landscape for decentralized finance (DeFi) in the United States. This bipartisan-supported resolution effectively nullifies the Internal Revenue Service’s (IRS) contentious broker rule, which sought to impose rigorous reporting requirements on DeFi platforms. The vote saw…
Continue ReadingCrypto Daybook Americas:
Market Overview: Bitcoin’s Resilience Amidst Broader Economic Concerns Bitcoin continues to display resilience, maintaining values above $80,000 amid shifting macroeconomic conditions. Recent developments have sparked notable price movements, with Bitcoin’s dominance surging to 62%, a level not seen since the start of the year, while the ether-to-bitcoin (ETH-BTC) ratio reflects Ethereum’s underperformance against Bitcoin on…
Continue ReadingIs Bitcoin price going to crash again?
Bitcoin (BTC) surged to $83,700 during the early Asian hours on March 12, following a dip to $76,600 on March 11. This fluctuation, marked by a minor uptick in market sentiment, raises uncertainties regarding the cryptocurrency’s path in the coming days, particularly as it faces resistance near the $84,000 threshold. ### Demand for Bitcoin Remains…
Continue ReadingSenator Lummis Re-introduces Bitcoin Bill
Senator Cynthia Lummis recently took a significant step in pushing her vision for cryptocurrency legislation forward. On March 11, she announced the reintroduction of the Bitcoin Act, formally known as the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act.” This ambitious piece of legislation aims to solidify the United States’ commitment to integrating…
Continue ReadingBitcoin Bashing Fiesta as Price Dips to $77K
Earlier this week, Bitcoin (BTC) saw a significant decline, briefly slipping to a four-month low of just under $77,000. This downturn didn’t escape the notice of Peter Schiff, the vocal gold advocate and cryptocurrency critic, who wasted no time in ridiculing crypto investors. With Ethereum (ETH) also experiencing a slide to a 17-month low, falling…
Continue ReadingBTC CME Futures Spread Slides to $490, Undoing The ‘Trump Bump’
The bullish sentiment following Donald Trump’s win in the November 5 Presidential elections appears to be dissipating, as indicated by the spread between continuous next-month and front-month Bitcoin (BTC) futures traded on the CME. This narrowing spread has reached $495, the lowest level since the day of the election, after having peaked at $1,705 on…
Continue ReadingBitcoin high-entry buyers are driving sell pressure, price may ‘floor’ at $70K
Bitcoin buyers are currently facing significant losses, particularly those who entered the market at or near its all-time high of $109,000 in January. Recent data from on-chain analytics firm Glassnode reveals that this surge of buying activity has led to a notable sell-off as prices decline. According to their March 11 market report, this has…
Continue ReadingSEC delays decision on XRP, Solana, Litecoin, Dogecoin ETFs
The US Securities and Exchange Commission (SEC) has once again delayed its decision on a number of exchange-traded funds (ETFs) associated with popular cryptocurrencies like XRP, Solana, Litecoin, and Dogecoin. In a series of filings released on March 11, the SEC indicated it would take additional time to consider proposed rule changes necessary for these…
Continue ReadingBitcoin jumps 7% despite metrics flashing ‘bearish territory’
Bitcoin experienced a notable 7% surge within 24 hours, achieving a trading price of $82,910, up from a low of $79,356, as recorded by CoinMarketCap. Despite this rally, various valuation metrics suggest a bearish outlook for the cryptocurrency market, as detailed in a recent report by the on-chain analytics platform CryptoQuant. Demand Declining Rapidly In…
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