A limp monthly close ends with Bitcoin closing its weekend futures gap, but BTC price action continues to disappoint.
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Last BTC price dip before a $30K breakout? Bitcoin wipes weekend gains
Bitcoin (BTC) returned to a key focal point on June 1 as the monthly close delivered disappointment.
BTC/USD 1-day candle chart on Bitstamp. Source: TradingViewBTC price “fills” latest CME futures gap
Data from Cointelegraph Markets Pro and TradingView confirmed a lackluster end to May for BTC/USD, which slid below $27,000.
The pair erased its entire uptick seen over the weekend, coming full circle to act in a familiar range on the day.
This centered on the area immediately below $27,000, Bitcoin frequently visiting since the middle of April.
CME Bitcoin futures 1-hour candle chart. Source: TradingViewIn doing so this time around, however, BTC/USD “filled” a gap in CME futures outstanding since the weekend trip higher.
'Not just Bitcoin price' —Dan Tapiero shares tips on navigating the bear market
Veteran trader Dan Tapiero said that the most important thing for traders is to be able to make rational judgments that aren't impacted by people's fears.
‘Not just Bitcoin price’ — Dan Tapiero shares tips on navigating the bear market
Veteran trader Dan Tapiero said the most important thing for traders is to make rational judgments that aren’t impacted by people’s fears.
Crypto.com joins ranks of licensed payment institutions in Singapore
Singapore's Crypto.com expands its regulatory achievements by securing MPI license for DPT services from MAS.
Crypto.com joins ranks of licensed payment institutions in Singapore
Singapore's Crypto.com expands its regulatory achievements by securing MPI license for DPT services from MAS.
Germany’s Deutsche Telekom plugs in as Polygon validator
The German telecommunications firm looks to leverage its infrastructure in Web3, plugging in as a network validator for Ethereum scaling protocol Polygon.
Germany’s Deutsche Telekom plugs in as Polygon validator
The German telecommunications firm looks to leverage its infrastructure in Web3, plugging in as a network validator for Ethereum scaling protocol Polygon.
Australia asks if ‘high-risk’ AI should be banned in surprise consultation
The Australian government suddenly announced a new eight-week consultation to ask how heavily it should police the AI sector.
Japanese AI experts raise concern over bots trained on copyrighted material
Takashi Kii, the Member of the House of Representatives for 10 Wards of Fukuoka indicated that he is pushing for regulation to protect copyright holders from being infringed on by AI.
Blackrock CEO issues dire warning over ‘debt ceiling drama’ — Bullish for Bitcoin?
The debt ceiling has been raised but Larry Fink says trust in the U.S. dollar is being eroded, which could be good news for Bitcoin.
Satoshi Nak-AI-moto: Bitcoin's creator has become an AI chatbot
The bot is a ChatGPT model that’s so far only been trained on Satoshi Nakamoto’s public writings and a handful of Bitcoin-related source materials.
Gate.io denies liquidity problems after Multichain CEO goes missing
Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations.
SBF wants to subpoena documents from old FTX/Alameda law firm to use in his defense
The prosecution and FTX debtors already have access to the documents, which concern 11 topics and may contain material favorable to SBF.
PepeCoin (PEPE) price action points to a potential 70% drop
Pepe (PEPE) price has dropped by more than 70% three weeks after establishing its record high of $0.00000449. And the memecoin could fall even more in the coming days, according to a mix of technical and fundamental indicators.
PEPE charts flash a classic bearish reversal pattern
From a technical standpoint, the price of PEPE could drop sharply from its current levels. At the core of this bearish outlook lies the classic head-and-shoulders (H&S) pattern.
Analysts who use technical analysi view the H&S pattern as a bearish reversal indicator for the unversed. It forms when the price forms three peaks atop a common neckline support; the middle peak, called "head," is higher than the other two, called the "left shoulder" and "right shoulder."
Head-and-shoulder breakdown illustrated. Source: Forex AcademyThe H&S pattern resolves after the price breaks below its neckline. Meanwhile, as a rule of technical analysis, traders measure the pattern's downside target by adding the maximum distance between the head and neckline to the breakdown point.
On May 22, PEPE broke below its H&S neckline near $0.00000156. That puts its downside target near $0.00000041 in June, down around 70% from current price levels.
PepeCoin (PEPE) price action points to a potential 70% drop
Pepe (PEPE) price has dropped by more than 70% three weeks after establishing its record high of $0.00000449. And the memecoin could fall even more in the coming days, according to a mix of technical and fundamental indicators.
PEPE charts flash a classic bearish reversal pattern
From a technical standpoint, the price of PEPE could drop sharply from its current levels. At the core of this bearish outlook lies the classic head-and-shoulders (H&S) pattern.
Analysts who use technical analysi view the H&S pattern as a bearish reversal indicator for the unversed. It forms when the price forms three peaks atop a common neckline support; the middle peak, called "head," is higher than the other two, called the "left shoulder" and "right shoulder."
Head-and-shoulder breakdown illustrated. Source: Forex AcademyThe H&S pattern resolves after the price breaks below its neckline. Meanwhile, as a rule of technical analysis, traders measure the pattern's downside target by adding the maximum distance between the head and neckline to the breakdown point.
On May 22, PEPE broke below its H&S neckline near $0.00000156. That puts its downside target near $0.00000041 in June, down around 70% from current price levels.
Sen. Elizabeth Warren points to crypto payments as facilitating fentanyl trade in China
“The number of crypto transactions associated with Chinese fentanyl brokers increased by 450% just last year alone," said the Massachusetts senator, citing an Elliptic report.
Multichain team cannot locate CEO, halts service for affected chains
Cross-chain services are suspended for Kekchain, PublicMint, Dyno Chain, Red Light Chain, Dexit, Ekta, HPB, ONUS, Omax, Findora, and Planq.
EU officials sign Markets in Crypto-Assets framework into law
First introduced in 2020, MiCA aims to create a consistent regulatory framework for crypto assets among the European Union member states.
Fantom starts paying developers to generate gas fees
Developers will get a 15% cut of the fees they generate, but only if their app has done more than 125,000 transactions and has existed for three months.