Even altcoins slumped, with only Ripple and Cardano registering inflows.
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Coin Center responds to US lawmakers’ request for crypto tax guidance
The crypto advocacy group’s suggestions included a de minimis exemption for crypto transactions and having the IRS provide guidance on block rewards, airdrops and hard forks.
Crypto futures and ETFs are knocking at the door: Law Decoded, Aug. 13–20.
SEC is likely to approve multiple applications for Ether futures exchange-traded funds simultaneously.
Bitcoin price holds $26K as derivatives data hints at end of volatility spike
BTC futures and options data show pro traders’ sentiment was not impacted despite last week's 11.4% correction.
Price analysis 8/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT
After the sharp fall on Aug. 17, Bitcoin (BTC) remained stuck inside a tight range over the weekend. This suggests indecision between the bulls and the bears about the next directional move.
After the latest fall, about 88% of Bitcoin held by Short-term Holders (STHs), owning Bitcoin for 155 days or less, has plunged into loss, according to Glassnode’s weekly newsletter, “The Week On-Chain.” Glassnode warns that the STH cohort is “increasingly price sensitive.”
In comparison, the long-term holders have neither panicked nor gone on a shopping spree during the current fall.
Daily cryptocurrency market performance. Source: Coin360Traders are likely to keep a close watch on the United States Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole Economic Symposium on Aug. 25. If Powell does not spring a negative surprise, then the event may turn out to be bullish for risky assets. History suggests that U.S. stocks generally rise in the week after Jackson Hole.
What are the important support and resistance levels to watch for in Bitcoin and altcoins? Let’s analyze the charts to find out.
Price analysis 8/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT
Bitcoin and select altcoins are starting to recover, but selling at the top of each price breakout suggests that bears remain in control.
Price analysis 8/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT
Bitcoin and select altcoins are starting to recover, but selling at the top of each price breakout suggests that bears remain in control.
Scientists reverse-engineered the Luna flash crash using particle physics
More than $40 billion in investor assets were lost in the crash between May 5 and May 13, 2022. Less than a year later, Do Kwon was arrested after allegedly attempting to flee prosecution for criminal activity associated with the losses.
Volumes have since been written discussing the breakdown, which saw the Luna coin plummet and Terra’s UST stablecoin de-pegged from the U.S. dollar.
Now, for what appears to be the first time, scientists have applied statistical mechanics to essentially reverse-engineer the crash using the same techniques used to study particle physics.
The research, conducted at King’s College London, concentrated on transaction events and orders occurring during the crash. Per the team’s preprint research paper:
“We view the orders as physical particles with motion on a 1-dimensional axis. The order size corresponds to the particle mass, and the distance the order has moved corresponds to the distance the particle moves.”
SEC charges crypto investment manager with misleading advertising, custody claims
The case against Titan Global Capital Management is the first brought under the U.S. regulator’s 2020 revised marketing rule. It also touches on compliance issues.
Coinbase sees lukewarm demand for debt buyback, raises offer
The United States crypto exchange has increased its offer for discounted debt by 3%.
Binance limits withdrawals in Europe, cites payment processor issues
In a deleted customer service message, Binance said that the failed withdrawals were caused by temporarily suspended EUR transactions through SEPA.
Bitcoin speculators are underwater on 88% of their BTC bags — Research
A tale of two types of Bitcoin investor emerges, as BTC price action separates "sensitive" speculators from seasoned hodlers.
Bitcoin speculators are underwater on 88% of their BTC bags — Research
A tale of two types of Bitcoin investor emerges, as BTC price action separates "sensitive" speculators from seasoned hodlers.
PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin.
PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin.
PayPal’s new PYUSD stablecoin faces legal headwinds and ‘less functionality’
Industry experts explain the benefits and disadvantages of PayPal’s PYUSD stablecoin.
Ethereum co-founder Vitalik Buterin moves $1M of ETH to Coinbase
On-chain data shows that Ethereum co-founder Vitalik Buterin moved 600 ETH to U.S. exchange Coinbase amid ongoing market woes.
Renewable energy Bitcoin mining company powers up in Sweden
Bitcoin mining lands another green energy data center as global powerhouse GDA sets up shop in Sweden.
Kenya forms parliamentary committee to investigate Worldcoin
The controversial crypto project’s launch has been marred into controversy and it's already facing investigations in nearly half a dozen countries.
Kenya forms parliamentary committee to investigate Worldcoin
The controversial crypto project’s launch has been marred into controversy and it's already facing investigations in nearly half a dozen countries.