After 20 days of holding the $22,500 support, Bitcoin (BTC) price finally broke down on Feb. 9. Bullish traders had placed their hope on a sustained rally, but this has been replaced by a tight trading range with resistance at $22,000. The downtrend is even more concerning since the S&P 500 is trading near its
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The crypto industry will “probably” start using euro, yen, or Singapore dollar based stablecoins in the future, reducing its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.” CZ gave the statement in answer to a question about the crypto
The price of Ether (ETH) declined 10.2% between Jan. 8 and Jan. 10, and has since been range trading near the $1,500 level. More importantly, on a broader time frame, Ether is down 52.5% in twelve months, which partially explains why derivatives metrics were somewhat neutral after Ether’s failed attempt to break $1,700 on Feb.
USD Coin (USDC) issuer Circle has denied rumors that it received a “Wells Notice” over its United States dollar-pegged stablecoin. On Feb. 14, a now-deleted tweet from Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. Securities and Exchange Commission (SEC) to cease the sale of USDC — due to the
Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after it was discovered that Citadel Securities holds a 5.5% stake in the bank, according to a Schedule 13G filing with
NFT marketplace Blur’s airdrop went live earlier today after a three-week delay. Users were able to unlock the Ethereum-based $BLUR governance tokens that they received over the past few months. The token’s price has decreased by more than 80% since its launch. The NFT startup has come out as a considerable rival of the popular
Cointelegraph’s Crypto Trading Secrets podcast has released its fifth episode, featuring Filbfilb, a cryptocurrency analyst and trader popular on Crypto Twitter. The crypto space has seen several bull and bear markets since the industry began with the launch of Bitcoin (BTC) in 2009. Each overarching crypto bull and bear market has primarily hinged on the
The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs). The FCA and the cyber team at West Yorkshire Police have taken action against several sites in and around Leeds city suspected of hosting illegally operated crypto ATMs. Announcing the news on Feb. 14, the FCA
Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin vs. CPI: “Expect volatility” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to expand beyond $21,800 ahead of the United States Consumer Price Index (CPI) print for January.
Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 analysis, Matrixport’s Markus Thielen suggested that BUSD issuer Paxos Trust Company may not have been stringent enough with its oversight of the token. He added that
According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with regulated financial
Bitcoin (BTC) miners have earned nearly $600,000 in two months from a new controversial NFT protocol called Ordinals that has triggered a surge in user activity. What are Bitcoin Ordinals? Ordinals allow users to inscribe data in the form of images and other media types in newly mined blocks on the Bitcoin blockchain that’s otherwise largely
The percentage of Ethereum blocks complying with orders set by the United States Office of Foreign Asset Control (OFAC) has now fallen to 47% — the lowest level since Oct. 11. The latest milestone in reversing censorship comes nearly three months after the percentage of OFAC-compliant blocks peaked at 79% on Nov. 21. OFAC-compliant blocks
The United States Securities and Exchange Commission (SEC) is reportedly planning to propose new rule changes this week that could impact what services crypto firms can offer their clients. According to a Feb. 14 report from Bloomberg citing “people familiar with the matter,” the securities regulator is working on a draft proposal that would make
Bitcoin (BTC) drifted toward major liquidity around the Feb. 13 Wall Street open as the dust settled on United States regulatory news. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC traders spread bids lower Data from Cointelegraph Markets Pro and TradingView showed BTC/USD $21,476 on Bitstamp, almost matching the weekend’s three-week lows. As analysts expected
India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation of crypto assets” during her recent meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva.