Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools. Garner: BTC price signals should excite bulls While BTC/USD attempts to push
Month: January 2023
With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms,
The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate
Top Stories This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a wide range of global companies. Among the potential creditors are airlines, hotels, charities, banks, venture capital companies, media outlets and crypto
Commentators believe that Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt crisis.” Analyst: Fed will have “no choice” with rate cuts The
Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter
Dogecoin rose to a six-week high on Saturday, as prices rose above a key resistance level to start the weekend. The meme coin climbed to its strongest point since December, as the global crypto market cap was mostly in the green in today’s session. Avalanche also surged today, hitting its strongest point since August. Dogecoin
Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading. During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell
Aptos’ APT reached a new all-time high of $20.39 after posting gains exceeding 400% since the start of 2023. While the rally could just be a pump-and-dump event due to the perception of weak fundamentals, increasing negative sentiment toward the token will likely fuel the prices in the short term. Let’s explore some of the
A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees and other payments charged by the state. JUST IN: A New York Senate has introduced a bill to allow #Crypto as a form of payment
The White House released a statement on Jan. 27 that provided United States President Joe Biden’s administration a roadmap for mitigating risks associated with cryptocurrencies. The administration’s legislative guidance addressed much of the document to the U.S. Congress. The authors of the statement outlined a two-pronged path forward. They wrote: “We have spent the past
The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized. US Lawmaker Shares Priorities on Crypto
After two weeks of a stupendous rally, Bitcoin’s (BTC) price has largely been flat this week. This is a positive sign, as it shows that market participants are not growing nervous before a slew of central bank meetings takes place next week. The United States Federal Reserve, European Central Bank and Bank of England are
Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posed as a virtual land mint. Hackers stole $751,321.80 USDC from a single wallet within half an hour of the malicious links being tweeted, according
The third version of crypto lending app Aave has now been deployed to Ethereum for the first time, according to a Jan. 27 tweet thread from the Aave team. “Aave V3” was originally released in March 2022, and it was deployed on multiple Ethereum Virtual Machine (EVM)-compatible blockchains shortly afterward. Until now, Ethereum users only
Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment. Total crypto market cap in USD, 1-day. Source: TradingView Bitcoin (BTC) price gained 8% on the week,
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