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Bitcoin is witnessing profit-booking near $38,000, but the correction is likely to be shallow as lower levels are likely to attract buyers. Bitcoin (BTC) has started the week on a negative note. The failure of the bulls to pierce and sustain above the $38,000 resistance has given a small window of opportunity for the bears to try and make a comeback. Strong selling has pulled the price below $37,000 on Nov. 27. However, lower levels are likely to attract buyers as the bulls will want to maintain the momentum going into the final month of the year. The bears are likely to have other plans as they will attempt to deepen the correction. That could boost volatility in the last few days of November as both the bulls and the bears try for a monthly closing in their favor. Daily cryptocurrency market performance. Source: Coin360 While near-term uncertainty remains, Rich Dad Poor Dad author Robert Kiyosaki reiterated his long-term bullish view on Bitcoin, gold and silver in a X (formerly Twit...

One of the largest cryptocurrency exchanges to hold a multi-week event on blockchain where the community celebrates art, music, gaming and more. Presented by Coinbase, the Onchain Summer festival will bring the community together for three weeks in August to build, socialize, play and celebrate innovation. The inclusive nature and global reach of cryptocurrencies and blockchain technology have given rise to a diverse community of individuals from various nationalities, cultures, backgrounds and socioeconomic statuses. The influence of crypto and blockchain expands beyond financial technologies, and the community reflects that by spanning across different sectors, including health care, gaming, retail, social and political domains. For this vast network of enthusiasts, estimated to surpass 420 million people worldwide in 2023, touching base and socializing about common interests is crucial. This is why the crypto and blockchain ecosystem is never short of conferences, festivals and sum...

Bitcoin and several altcoins are stuck in a tight range, indicating that a breakout is brewing. A large part of the recent leg of Bitcoin’s (BTC) rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved, said Bloomberg senior ETF analyst Eric Balchunas.  Another bullish catalyst for the cryptocurrency markets could be a filing by asset manager Fidelity Investments to launch its Bitcoin spot ETF. CoinShares Chief Strategy Officer Meltem Demirors said that firms managing $27 trillion of assets are “actively” pursuing efforts to allow their clients exposure in the crypto space. Daily cryptocurrency market performance. Source: Coin360 Most of the focus in recent days has been on institutional money but the retail trader’s power should not be underestimated....

Ethereum could eventually fall afoul of the SEC, but at the moment, key data points suggest ETH is poised to hold the $1,800 level. Ether’s (ETH) price retested $1,780 after the news of the U.S. Securities and Exchange Commission suing cryptocurrency exchanges Binance and Coinbase but it’s not preposterous to suggest that Ether bulls should be more than happy that its price did not break below the 67-day support.  The SEC actions are actually a double-edged sword for Ethereum and on crypto Twitter, some analysts attributed the bounce in Ether as a result of it not being listed as a security in either of the cases brought against Binance and Coinbase. For instance, the SEC explicitly mentioned BNB, Solana (SOL) and Cardano (ADA), which are direct competitors to Ethereum’s smart contract processing capabilities. However, as noted by analyst Jevgenijs Kazanins, Ether’s omission does not mean that it has the green light from the SEC. SEC did not mention #ETH in the list of tokens that i...

One of Australia’s Big Four banks announced efforts to combat crypto fraud activities aimed at reducing losses from scams. Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies. The protection measures aim to mitigate losses from scams and reduce potential risks. According to the announcement, investment scams account for approximately 50% of all customer losses linked to scams, while around one-third of all scams involve direct transfers to cryptocurrency exchanges, making them extremely difficult to trace. The Westpac ban comes on the same day Binance customers were told they could no longer use PayID to transfer Australian dollars to their accounts. Binance said a “third-party provider” had placed restrictions on the exchange, affecting bank transfer withdrawals for now. According to Scott Collary — Westpac’s group executive of customer services and technology — whi...

“Lightning is great and something we’ll integrate,” Armstrong said in response to an allegation that he was “ignoring” the network. Bitcoin (BTC) layer 2 scaling solution Lightning may feature on the cryptocurrency exchange Coinbase in some capacity, according to its chief Brian Armstrong. In a tweet on April 8, Armstrong said that “Lightning is great and something we’ll integrate” in response to a tweet criticizing him for “actively ignoring” the network. My tweets auto-delete after some number of months, so there is no search history. Lightning is great and something we ’ll integrate . — Brian Armstrong (@brian_armstrong) April 8, 2023 Armstrong provided no further details on what a Lightning integration with Coinbase would involve or when it could be expected. Coinbase, along with Binance and the now bankrupt FTX, has been called out in the past for not integrating the Lightning network which enables faster and cheaper BTC transactions than the Bitcoin base network. Accordi...

DXY is cooling off and crypto and equities are starting to heat up. Cointelegraph explores how BTC and altcoins could react to the current bullish momentum in the market. Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment.  The strong rally in the U.S. stock Markets on Jan. 6 and in Cryptocurrencies over the weekend suggests that market observers anticipate the Fed to slow down its frantic pace of rate hikes. The optimism was fuelled by the greater-than-expected slowdown in wage gains in the December jobs report and the first contraction in U.S. services industry activity since May 2020. The next trigger that may influence the Markets could be the Consumer Price Index data due on Jan. 12. Daily cryptocurrency market performance. Source: Coin360 While the cryptocurrency markets may benefit from a risk-on environment, the extent of the up-move may be lim...

Bitcoin and most major altcoins are trading close to their overhead resistance levels, increasing the likelihood of an upward push. Bitcoin (BTC) is on track to end the year with a loss of about 65%. This would mark the third negative year for Bitcoin with the other two being 2014 and 2018. In comparison, the S&P 500 has fared much better but that is also down close to 20% in 2022. Although cryptocurrency prices have seen deep cuts this year, traders have continued to plow money into the space. An online survey conducted by Blockchain.com shows that 41% of the respondents bought crypto this year and 40% plan to purchase crypto in the next year. Daily cryptocurrency market performance. Source: Coin360 However, a sustained recovery in risk-assets may happen only after inflation shows signs of cooling. That would raise expectations of a pivot by the United States Federal Reserve from its aggressive monetary tightening to an expansionary policy. In the short term, markets may remain v...