The AIFC Financial Services Authority in Kazakhstan granted Binance a permanent license to a digital asset platform and provide custody services in the country.
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Bitcoin beats out shorts as BTC price attempts to crack $20.5K
Further fluctuations within the range nonetheless see bulls avoid another retest of more crucial support.
Bitcoin beats out shorts as BTC price attempts to crack $20.5K
Bitcoin (BTC) reclaimed and held $20,000 into Oct. 6 as the latest rebound punished short speculators.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin preserves “important” $19,600 zone
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing from local lows of $19,740 on Bitstamp around the Oct. 5 Wall Street open.
The pair then reversed prior losses, leading early shorters into $20 million in liquidations in 24 hours.
BTC liquidiations chart (screenshot). Source: CoinglassAt the time of writing, Bitcoin traded around $20,250, having gone on to reach $20,447 on the day.
Michaël van de Poppe, CEO and founder of trading firm Eight, had flagged the lows as a suitable entry point.
South Korean foreign ministry orders Do Kwon to return his passport
Do Kwon who has an Interpol notice and an arrest warrant against his name has not been cooperative with the investigation agencies.
Solar ‘Bazooka’ Bitcoin mine warms warehouse amid Europe’s energy crisis
A warehouse in the Netherlands swapped out natural gas for Bitcoin miner heating — saving money, efficiency and the planet.
Korean police reportedly arrest first person involved in Terra collapse
The head of the business team of Terraform Labs was a part of Do Kwon’s inner circle.
BTC to outperform 'most major assets' in H2 2022 — Bloomberg analyst
Global rate hikes are putting downwards pressure on asset prices, but Bitcoin is starting to outperform commodities and tech stocks.
GameFi could be the answer to unemployment for some — Aussie game studio
The executives say traditional jobs are increasingly at risk through factors such as automation, but GameFi can provide a viable alternative to earn a wage.
Web3 gaming still a long way from mainstream adoption: Survey
In a survey commissioned by Coda Labs, 6,921 people from five countries were asked a series of questions to determine their perception of crypto, NFTs, and Web3 gaming.
NEAR Protocol partners with Google Cloud to support Web3 devs
Under a partnership with NEAR Protocol, Google Cloud will support NEAR developers in building and scaling their Web3 projects and DApps.
Opensea to allow users to submit bulk NFT listings and purchases
The company said that users can now list and buy up to 30 items in a single flow.
US lawmakers request Justice Dept share CBDC assessment
The House members claimed the "appropriate place for the discussion" on legislation concerning a digital dollar would be in the U.S. legislative branch.
South Carolina treasurer goes on Bitcoin 'fact-finding trip' to El Salvador
The state official reportedly used his own funds to pay for the trip, which included discussing Bitcoin with government officials and exploring financial literacy programs.
South Carolina treasurer goes on Bitcoin 'fact-finding trip' to El Salvador
The state official reportedly used his own funds to pay for the trip, which included discussing Bitcoin with government officials and exploring financial literacy programs.
Will bulls take charge now that Bitcoin price trades above a long term trendline resistance?
Bitcoin bulls celebrated BTC’s push through a long term trendline resistance, but has anything actually changed?
Will bulls take charge now that Bitcoin price trades above a long-term trendline resistance?
On Oct. 4 and 5, Bitcoin (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to April 22 or Nov. 15, depending on one’s style of technical analysis.
Some traders might be feeling a bit celebratory now that the price trades outside of the descending trendline, but have any relevant metrics or macro factors changed enough to support a bullish point of view for Bitcoin price?
In reality, BTC price simply “consolidated” its way through the trendline by trading in a sideways manner where price has been range bound between $18,500 and $24,500 for the past 114 days.
BTC/USDT. Source: TradingViewDirection-wise, Bitcoin and Ether (ETH) tend to trade in tandem with equities, and BTC’s Oct. 4 rally to $20,365 comes as the Dow, S&P 500 and Nasdaq closed the day with 2% to 3% gains.
BTC, ETH and S&P 500 correlations. Source: Coin MetricsAs a reminder that short-term price action is not necessarily reflective of a larger trend change, Coin Metrics said:
Russia blocks OKX website for alleged unreliable financial information: Reports
The cryptocurrency exchange’s website was said to contain information about pyramid schemes, although no details were given; similar bans have been imposed before.
Bitcoin derivatives data reflects traders’ belief that $20K will become support
Declining interest in margin shorts and a balanced risk perception in options markets highlight a possible path to $21,500 for BTC price.
Bitcoin derivatives data reflects traders’ belief that $20K will become support
Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential rally to $28,000.
As described by Moustache, the descending channel continues to exert its pressure, but there could be enough strength to test the upper channel trendline at $21,500. The price action coincided with improving conditions for global equity markets on Oct. 4, as the S&P 500 index gained 3.1% and the tech-heavy Nasdaq Composite rallied 3.3%.
Curiously, the sentiment improvement happened while the United States job openings dropped by 1.1 million in August, according to the U.S. Labor Department. The decline was the largest since April 2020 and signaled the U.S. Federal Reserve’s aggressive contractive monetary policy could end sooner than expected.
The overall bullish sentiment might have caused Bitcoin to break the $20,000 resistance, but that does not mean professional investors are comfortable at the current price levels.
Margin traders did not increase their longs despite the rally
Monitoring margin and options markets provide excellent insight into how professional traders are positioned. Margin trading allows investors to borrow cryptocurrency to leverage their trading position. For example, one can increase exposure by borrowing stablecoins to buy an additional Bitcoin position.
Reversible blockchain transactions would improve cryptocurrency
For some users, reversibility runs up against the idea of the blockchain. However, it could be a critical tool for fighting hackers and encouraging the mass adoption of cryptocurrency.