Bitcoin faces more than just FTX fallout in December, with macro data due and the Mt. Gox payouts getting closer.
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BTC price taps $17K as analysis warns of inbound Bitcoin ‘risk events’
Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTrader: $17,500 monthly close “most bullish outcome”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following traders’ predictions to sweep higher levels before consolidating.
Highs of $17,072 appeared on Bitstamp, with the pair nonetheless unable to flip the highs to support. At the time of writing, Bitcoin hovered around $16,900.
$17,000 marks a key range for bulls to reclaim, Cointelegraph reported the day prior, and until this happens, the status quo remains.
“$BTC bulls want to hold 16.8k as first counter trend S/R flip. Back below would represent a minor upthrust,” popular analyst Cheds summarized, revealing a short at the highs.
What is the best crypto use case? Community answers
A community member argued that the best crypto use case is still how crypto provides a decentralized, peer-to-peer payment system that eliminates middlemen like banks.
Binance acquires regulated crypto exchange in Japan
Binance has managed to expand its services throughout the past year by either acquiring an operating license or buying a stake in a regulated entity.
Binance acquires regulated crypto exchange in Japan
Binance has managed to expand its services throughout the past year by either acquiring an operating license or buying a stake in a regulated entity.
South Korea issues arrest warrant for Do Kwon's former colleagues
Arrest warrants were sought for Terraform Labs co-founder Daniel Shin, three investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives.
South Korea issues arrest warrant for Do Kwon's former colleagues
Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following suspicion of gaining illegal profits before the massive collapse of the Terra ecosystem.
The Seoul Southern District Prosecutors Office in South Korea suspected that Shin possessed Terra (LUNA) tokens, which were pre-issued without the public knowledge of investors. In doing so, Shin allegedly bagged profits worth 140 billion won (roughly $105 million) by selling the pre-issued tokens during the bull market.
Arrest warrants were also sought for three Terraform Labs investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives, confirmed local media Yonhap News Agency. On Nov. 19, South Korean authorities seized assets worth over $104 million from Shin under the same suspicion of making unfair profits.
At the time, Shin’s attorney maintained the counter-narrative stating that “Reports that CEO Shin Hyun-seong sold Luna at a high point and realized profits or that he made profits through other illegal methods are not true.”
Speaking against the arrest warrant, Shin pointed out:
Brazil passes law to legalize crypto as a payment method
The law was approved by the Chamber of Deputies of Brazil but still requires the approval of the executive branch to be enacted.
Blockchain-based supply chain platform canned by IBM and Maersk
Although the TradeLens platform will officially go offline in Q1 2023, Maersk said it's not given up its effort to digitize the supply chain industry.
Bankman-Fried on the hook in Texas, called to appear at Feb. hearing
The Texas Securities Board has asked the judge to consider leveling a cease-and-desist order, administrative fines, and forced refunds against SBF and FTX US.
Digital assets could add $40B a year to Aussie GDP: Tech Council report
A clear principles-based regulatory approach to the digital assets sector could be a huge benefit to the Australian economy according to the report.
CrossTower to acquire institutional prime brokerage BEQUANT
It comes after months of window shopping by CrossTower as crypto companies are still looking to expand despite the crypto market downturn.
The creator of the FTSE100 launches indices for crypto
The constituent coins that make up the indices have not yet been released, but it does include performance data for the first three quarters of 2022.
US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse
Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin were targets of one senator's probe into protections the firms had in place if a failure similar to FTX's occurred again.
FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer
On-chain activity suggests that the hacker has sent at least 225 BTC (4.5 million) to OKX so far.
FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer
On-chain activity suggests that the hacker has sent at least 225 BTC (4.5 million) to OKX so far.
Ethereum derivatives look bearish, but traders believe the ETH bottom is in
Expectations of stringent regulation and further contagion from FTX continue to weigh on ETH price, but derivatives are showing a modest improvement in sentiment.
Ethereum derivatives look bearish, but traders believe the ETH bottom is in
Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors' sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28.
Newsflow remained negative after the United States Treasury Department's Office of Foreign Assets Control (OFAC) announced a settlement with Kraken exchange for "apparent violations of sanctions against Iran." In a Nov. 28 announcement, the OFAC said Kraken had agreed to pay more than $362,000 as part of a deal "to settle its potential civil liability."
Moreover, on Nov. 28, institutional crypto financial services provider Silvergate Capital denied rumors of significant exposure to BlockFi's bankruptcy. Silvergate added that its losses are lower than $20 million in digital assets and reiterated that BlockFi was not a custodian for its crypto-collateralized loans.
Traders are afraid that Ether could drop below $800 if the bear market continues, but some are also questioning the risk of invalidation. One example comes from crypto Twitter trader @CryptoCapo_:
Let's look at Ether derivatives data to understand if the worsening market conditions have impacted crypto investors' sentiment.
Ethereum derivatives look bearish, but traders believe the ETH bottom is in
Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors' sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28.
Newsflow remained negative after the United States Treasury Department's Office of Foreign Assets Control (OFAC) announced a settlement with Kraken exchange for "apparent violations of sanctions against Iran." In a Nov. 28 announcement, the OFAC said Kraken had agreed to pay more than $362,000 as part of a deal "to settle its potential civil liability."
Moreover, on Nov. 28, institutional crypto financial services provider Silvergate Capital denied rumors of significant exposure to BlockFi's bankruptcy. Silvergate added that its losses are lower than $20 million in digital assets and reiterated that BlockFi was not a custodian for its crypto-collateralized loans.
Traders are afraid that Ether could drop below $800 if the bear market continues, but some are also questioning the risk of invalidation. One example comes from crypto Twitter trader @CryptoCapo_:
Let's look at Ether derivatives data to understand if the worsening market conditions have impacted crypto investors' sentiment.
Serum exchange rendered 'defunct' following the collapse of Alameda and FTX
The project shared that “a community-wide effort to fork Serum is going strong,” however.