BTC price bear market bottom targets continue to flow in below $14,000 despite Bitcoin rebounding above $16,000.
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Bitcoin price still due $12K dip, says trader as ETF guru backs GBTC
Bitcoin (BTC) stayed undecided at the Nov. 24 Wall Street open as one trader reinforced a $12,000 BTC price target.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price "main target" for bottom $12,000-$14,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $16,500 as an eerie calm continued on the market.
The pair nonetheless failed to convince analysts that better times were on the way, and popular commentator Il Capo of Crypto suggested that it was only a matter of time before downside resumed.
On both high timeframes (HTF) and low timeframes (LTF), the picture looked bleak.
“Htf: lower lows and lower highs after breaking a monthly redistribution range. Below June's low and at supply zone. Ltf: weak trend caused by a short squeeze (bull trap). Volume dying,” he summarized to Twitter followers on the day.
Bitcoin miners look to software to help balance the Texas grid
Bitcoin mining can help balance electrical grids, but software can help ensure that miners are able to power on and off in seconds.
Bitcoin miners look to software to help balance the Texas grid
Bitcoin mining can help balance electrical grids, but software can help ensure that miners are able to power on and off in seconds.
First time Bear market? Advice from Bitcoin Bull Michael Saylor
Homeowners don’t check the price of their homes while drunk at a party, so why check the price of Bitcoin in that way, Michael Saylor joked.
Binance aims to allocate $1 billion for crypto recovery fund
Binance CEO Changpeng Zhao is aiming to stockpile $1 billion for an industry recovery fund.
Binance aims to allocate $1 billion for crypto recovery fund
Binance CEO Changpeng Zhao is aiming to stockpile $1 billion for an industry recovery fund.
UK bank Starling bans crypto-related purchases and deposits citing high risk
Starling has banned its customers from purchasing cryptocurrencies with their bank cards or receiving transfers from crypto merchants.
UAE regulator revokes FTX license amid the exchange collapse
Dubai regulators noted that no clients were exposed as FTX MENA was still in the preparation phase before getting fully approved to operate.
Bitcoin exchanges see 180K BTC supply decrease amid Mt. Gox BTC sales
Bitcoins from the 2014 Mt. Gox hack are on the move again, with 65 BTC sent to exchange HitBTC on Nov. 22.
Bitcoin exchanges see 180K BTC supply decrease amid Mt. Gox BTC sales
Bitcoin (BTC) exchanges may have just seen the largest exodus of user funds ever, data suggests.
Data from on-chain analytics firm Glassnode shows that on Nov. 23, major exchanges were down almost 179,000 BTC in monthly withdrawals.
Major exchanges see record BTC withdrawals
With FTX contagion still in the air, exchange users have been busy withdrawing funds to noncustodial wallets.
As Cointelegraph reported, $3 billion worth of cryptocurrency left major platforms in the immediate aftermath of FTX imploding.
That trend is ongoing, Glassnode shows, with its data capturing the largest-ever decrease in exchange BTC reserves for the 30 days to Nov. 23.
Crypto lender Hodlnaut reportedly faces police investigation in Singapore
Hodlnaut reportedly lied about its exposure to the now-defunct Terra algorithmic stablecoin and lost nearly $190 million.
Crypto lender Hodlnaut reportedly faces police investigation in Singapore
Hodlnaut reportedly lied about its exposure to the now-defunct Terra algorithmic stablecoin and lost nearly $190 million.
Russia intends to launch a ‘national crypto exchange’
Local lawmakers are working on amendments to the existing legislation “On digital financial assets” in consultation with market stakeholders.
Recent FTX hacks prove it was right to ‘secure’ its assets: Bahamian regulator
The Securities Commission of The Bahamas said the continued hacking attempts on FTX prove it made the right call to "secure" FTX's digital assets.
10,000 BTC moves off crypto wallet linked to Mt. Gox hack
The crypto was dormant in the account for over seven years and with the move, a majority found its way to personal wallets.
10,000 BTC moves off crypto wallet linked to Mt. Gox hack
The crypto was dormant in the account for over seven years and with the move, a majority found its way to personal wallets.
CrossTower eyeing further crypto acquisitions outside of Voyager bid
Crypto exchange CrossTower Inc., which is currently bidding for the assets of Voyager Digital, is reportedly window shopping for other crypto company acquisitions.
In a Nov. 24 Bloomberg report, CrossTower CEO Kapil Rathi revealed that the company is looking to pick up firms with a “good set of customers” and a “good balance sheet” despite the current bear market, stating:
“We’re in a great place to either acquire entities who have a good set of customers with them and a good balance sheet [...] so we are openly looking at different types of companies from an organic growth perspective.”
In September, CrossTower was one of the companies reported to be competing to acquire the assets of bankrupt crypto lender Voyager Digital, along with FTX and Binance.
FTX Trading eventually became the winner of the Voyager bid on Sept. 27 with the sale valued at $1.4 billion.
CrossTower eyeing further crypto acquisitions outside of Voyager bid
CrossTower’s president said they would place extra emphasis on highly transparent and compliance-focused companies in light of the FTX collapse.
Aussies warned to avoid crypto paper wallets they find on the street
Australians have been warned to stay away from suspicious-looking fake Bitcoin paper wallets, which work by luring victims into accessing a lucrative crypto wallet but will ultimately drain them of their own crypto holdings.
According to a Nov. 22 post on the Facebook page of the NSW Police Force, the scam starts as a paper cryptocurrency wallet with a QR code, which is made to appear like a legitimate Bitcoin paper wallet.
These are strewn by scammers in public locations such as streets or parks.
An example of the scam crypto paper wallets. Source: NSW Police ForceAn individual that locates the paper wallet and scans the QR code is directed to click on a link to access a crypto wallet with up to $16,000 Australian dollars ($10,000).
The person is then asked to pay a withdrawal fee and provide their own wallet credentials that will purportedly allow them to transfer the balance into their own crypto wallet.