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CATEGORY: inter


Sep 08, 2024 05:50

Bitcoin Investors Quiver As Accumulation Trend Nears Zero

September has started with significant losses for the Bitcoin market after a price decline of 9.16% occurred in the last week based on data from CoinMarketCap. During this period, the price of the largest cryptocurrency has dipped below $53,000 reaching a price low last seen in early August. Interestingly, despite Bitcoin’s low prices, investors are [...]

The post Bitcoin Investors Quiver As Accumulation Trend Nears Zero appeared first on Crypto Breaking News.

Suiting Up: Luis Buenaventura Reflects on Year One as GCrypto Head at GCash

Author: Shiela Bertillo
Philippines
Sep 08, 2024 02:50

Suiting Up: Luis Buenaventura Reflects on Year One as GCrypto Head at GCash

The following excerpt from the webcast highlights Buenaventura's reflections on his role at GCrypto, the corporate life, as well as updates on his crypto portfolio.

Sep 06, 2024 04:10

Nigerias Interest Rates Under Pressure After Fuel Price Surge

The recent hike in the petroleum price by 45% might continue to put pressure on the Central Bank of Nigeria to pause the interest rate hike meeting scheduled this month.   The central bank has raised its interest rate by 15.25 percent since 2022, taking it to a record of 26.75%

US, EU and UK sign worlds first international AI treaty

Author: Cointelegraph by Savannah Fortis
United States
Sep 06, 2024 12:00

US, EU and UK sign worlds first international AI treaty

The US, EU and UK have signed the worlds first legally binding international AI treaty, prioritizing human rights and accountability in AI regulation.

Sep 05, 2024 02:15

Impact of US Interest Rate Cuts on Bitcoin (BTC) Analyzed in Latest Bitfinex Alpha Report


Bitfinex Alpha report examines how upcoming US interest rate decisions could affect Bitcoin's (BTC) short-term volatility and long-term trends. (Read More)

Sep 05, 2024 02:15

Hong Kong Monetary Authority Sets 4.00% Interest Rate for Silver Bond Series


The Hong Kong Monetary Authority announced a 4.00% interest rate for the fourth payment of the Silver Bond Series due 2025. (Read More)

Brazils X ban: Are VPN users at risk for accessing the platform?

Author: Cointelegraph by Helen Partz
United States
Sep 05, 2024 12:00

Brazils X ban: Are VPN users at risk for accessing the platform?

VPN providers agree that tracking individuals accessing X via VPNs in Brazil would be challenging but not impossible.

Oct 01, 2024 12:05

Bitcoin May Peak Around $200,000 In Next 18 Months: CleanSpark CEO Tells Why

Zach Bradford, CEO of Bitcoin (BTC) mining firm CleanSpark, has predicted that the premier cryptocurrency may peak close to $200,000 this cycle. Bradfords Bullish Take On BTC Price In an interview with research and brokerage firm Bernstein, CleanSparks CEO noted that historically, post-halving periods have led to several positive adjustments for BTCs price.  It should be recalled that Bitcoin underwent its fourth halving in April 2024, when its block confirmation rewards were slashed from 6.250 BTC to 3.125 BTC. In a note to clients shared today, Bradford remarked: Based on my current analysis, I believe we could see bitcoin peak just under $200,000, sometime in the next 18 months. Thatll likely be a peak. But I do think well see a rapid jump, and then hopefully, an extended elongated period of it being up before we revisit a bear cycle. Related Reading: Historical Trends Put Bitcoin At $400,000 With Shocking Timeline Bradford stressed that he sees Bitcoins extended flat period as a positive sign. It indicates that a sustained rally to the upside may last longer than usual. However, he cautions that this depends on macroeconomic events and other relevant factors. Adding to his comments, Bradford said he expects a considerable push in BTC price post-election through January 2025. Subsequently, this could help Bitcoin miners with efficient cost structures expand their profit margins. Interestingly, the CleanSpark CEO doesnt think its important who wins the US presidential elections in November 2024. Rather, the reduction in electoral uncertainty after the elections will help investors place more confidence in risk-on assets such as Bitcoin. Bradford opined that the US Federal Reserve (Fed) was late in cutting interest rates after hiking them over the past two years. He concluded that to correct its delayed action, the Fed might cut rates more aggressively in the next 15 to 16 months, leading to further BTC price appreciation. Bitcoin Price Looks For Further Upside, But Challenges Remain After hitting a low of nearly $53,900 on September 6, Bitcoin has rebounded by nearly 10% on the back of multiple positive developments, such as the Fed cutting interest rates by 50 basis points (bps), and increased net daily inflows to ETFs. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Heres Why Crypto analysts believe that there is room for further upside in Bitcoin price. For instance, analysts from 10x Research predict that BTC may reach $70,000 in the coming two weeks, followed by a new all-time high (ATH) price. However, there are reasons to temper this optimism. For example, the recent Bitcoin rally has been accompanied by a rapid increase in open interest, indicating the possibility of high price volatility in the near term. Similarly, another analyst highlighted the greater increase in derivatives trading compared to spot trading as a cause for concern regarding a healthy Bitcoin price trajectory to the upside. Bitcoin trades at $63,710 at press time, down 3.2% in the past 24 hours. Featured image from Unsplash, Chart Tradingview.com

How Potato Cat transforms NFT trading with innovative swap engine: Interview

Author: CryptoSlate Interviews
United States
Sep 04, 2024 01:10

How Potato Cat transforms NFT trading with innovative swap engine: Interview

In the ever-evolving world of NFTs, the Solana blockchain has become a hotspot for innovation, attracting developers and traders alike with its fast and low-cost transactions. One of the standout projects making waves in this space is Potato Cat, a novel platform designed to revolutionize how users trade and manage their NFT portfolios. In this […]

The post How Potato Cat transforms NFT trading with innovative swap engine: Interview appeared first on CryptoSlate.

Sep 04, 2024 02:15

Bitcoin (BTC) Faces Volatility as US Interest Rate Decisions Loom


Bitcoin's (BTC) price may experience significant changes as the US Federal Reserve's interest rate decisions approach, according to Bitfinex Alpha. (Read More)

Bitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highs

Author: Cointelegraph by Big Smokey
United States
Sep 30, 2024 12:00

Bitcoin monthly close, fresh bullish narratives lead BTC traders to aim for new price highs

Bitcoins monthly close could reverse a 6-month-long downtrend and signal traders intent to push BTC price to new highs. 

Internet Computer (ICP) Continues Upward Trajectory With 16% Rally

Author: Christian Encila
United Kingdom
Sep 30, 2024 12:05

Internet Computer (ICP) Continues Upward Trajectory With 16% Rally

Internet Computer (ICP) continues to impress investors as it captures gains despite the market being down a few percent today. According to the latest market data, the token is up 16% since last week, a confirmation for some that ICP will continue to trend upward in the coming days.  Related Reading: XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance Despite the markets undeniable bullishness, a reversal might be forming in the coming days, threatening this month’s gains. However, with investors anticipating Uptober, there might still be room for investors to squeeze in some gains as the month ends.  Rejection At $9.90 Might Force Investors Below $9.23 As of writing, ICPs upward trajectory is threatened by a rejection by the $9.90 resistance level which might force the token well below $9.23 if the sentiment reversal continues to strengthen. Considering that the $9.23 support level is quite weak, the bearish thesis holds a lot of weight on the portfolios of investors.  ICPs current trajectory started at the start of August and continued to mature and develop over the month. Although it seems that this drive will be continuous, experiencing only a couple of dips here and there, the current rejection coupled with the markets dip today, the token might be on the path of losses in the coming days.  The relative strength index (RSI) is also signaling that ICP bulls will hit their threshold in the coming days, which will lead to the token suffering a pullback. If the token does not stabilize at its current price level, ICP bears will have the momentum to break through the $9.23 support level with $8.09 as the target. However, if the token stabilizes it has the potential to achieve a breakthrough on the $9.64 resistance with the target set at $11.41. Internet Computer: Network Activity Skyrockets As Fees Surge  Token Terminal, a crypto market data aggregate, recently shared that Internet Computer network activity over the month has surged, leading to a surge in fees. This led to the platform beating other L1s in the category as it reached an over 5,000% increase in the past 30 days. BREAKING: Internet Computer has generated more fees than @Optimism, @arbitrum, @avax, and @0xPolygon in the past 30 days. pic.twitter.com/lqaUoA5cc9 Token Terminal (@tokenterminal) September 24, 2024 According to the platform, the jump in activity is due to bob.fun, a blockchain built on top of ICP that creates a secure record book while using the underlying platform for security.  In a recent discussion at the Token2049 in Singapore, Dominic Williams, the Founder and Chief Scientist of the DFINITY foundation, talked about how Compute is the cornerstone of modern society.  When youre running software or a system on the ICP network, it never crashes or stops running, said Williams.  Related Reading: UNI Surges 30% Amid Ongoing On-Chain Development Talks With the use case for ICP as a security and compute layer, network activity on the platform may continue to trend upward in the coming months.  Featured image from Pexels, chart from TradingView

Bitcoin price to $62K? Bearish div hints at a slow start to Uptober

Author: Cointelegraph by Biraajmaan Tamuly
United States
Sep 30, 2024 12:00

Bitcoin price to $62K? Bearish div hints at a slow start to Uptober

Bitcoin open interest is testing a yearly high range of $35B while spot volumes remain skewed towards the sell side, indicating higher downside volatility. 

Sep 30, 2024 12:05

3 Reasons Bitcoin Price Rally Is At Risk Details

Bitcoin emerged as an investors favorite this past week, recording a price rise of 4.07% according to data from CoinMarketCap. During this price surge, the premier cryptocurrency traded as high as $66,000, a level last reached in late July. However, despite this price gain which extends Bitcoins unusual positive performance in September, certain market conditions indicate concern over the sustainability of this rally. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Heres Why Why Bitcoins Rally Is In Danger In a Quicktake post on CryptoQuant, an analyst with username Wenry outlined several reasons Bitcoin may not sustain its current upward trend. Firstly, Wenry notes that there is a lack of interest from retail investors in Korea and the US as indicated by a stagnant Taker volume. This status is different from previous Bitcoin price rallies where retail activity in these countries was prominent. Therefore, the analyst postulates that the current price surge is devoid of new investments and is likely driven by a select group of market participants. Furthermore, Wenry highlights there is currently a high level of Open Interest in the BTC market, but the asset continues to move in a range-bound market i.e. consolidation due to a low spot volume. The combination of both factors reflects the absence of a significant buying interest in Bitcoin despite the present rally.   Another point of concern raised by Wenry states the current Bitcoin price gain is caused by a rise in derivatives trading due to macroeconomic factors such as the reduction of interest rates. The crypto analyst pinpoints a lack of equal support from the spot market therefore, the rally is likely a temporal uptick rather than a structural market shift. In conclusion, Wenry states that the absence of significant spot market volume, a stagnant Taker volume, and low retail participation all threaten the longevity of Bitcoins current rally. Notably, if retail investors remain away from the market, Bitcoin would likely remain in consolidation or even experience a price correction. Related Reading: Analyst Backs Bitcoin Hitting $290,000 In Bull Run Heres Why Bitcoin To Break All-Time High In Q4?  On another front, popular analyst Michaël van de Poppe has backed Bitcoin to surpass its all-time high price of $73,750 in the last quarter of 2024, following a similar trajectory with gold. Van de Poppes prediction seems quite plausible as Q4 is traditionally the most bullish moment for Bitcoin. In addition, the renowned analyst is also backing altcoins to experience a 3-5x price surge in the same period. At the time of writing, Bitcoin continues to trade at $65,810 following a 0.40% gain in the last day. In tandem, the assets daily trading volume is down 53.16% and valued at $65,649.  Featured image from Freepik, chart from Tradingview

Sep 29, 2024 12:05

Bitcoin Breaks $66,000, But Analyst Warns Against Fresh LongsHeres Why

Bitcoin has shown bullish momentum during the past day, but an analyst has pointed out how the asset may be in a high-risk zone now due to the Open Interest trend. Bitcoin Open Interest Has Seen A Rapid Increase Recently As explained by CryptoQuant community manager Maartunn in a new post on X, the Bitcoin Open Interest has just surged to high levels. The “Open Interest” is an indicator that keeps track of the total amount of BTC-related positions currently open on all derivatives exchanges. Related Reading: Shiba Inu Rallies 34%, But Will FOMO End The Rally? When the value of this metric rises, it means the investors are opening up fresh positions on the derivatives market right now. As the overall leverage in the sector increases when this trend occurs, it can lead to higher asset price volatility. On the other hand, the indicator heading down suggests the derivatives contract holders are either closing up positions of their own volition or getting forcibly liquidated by their platform. This kind of trend can lead to more stability for BTC. Now, here is a chart that shows the trend in the Bitcoin Open Interest over the past year: As displayed in the above graph, the Bitcoin Open Interest had cooled off to relatively low levels earlier in the month as the asset’s price crashed. With the recovery in the coin, however, the indicator has been noting growth again. The indicator is now high, potentially implying the market has become overleveraged. As mentioned earlier, a high metric value can lead to more volatility for BTC. The reason behind this is that mass liquidation events can become more probable to occur at these levels, making the price act more volatile. On paper, the volatility emerging from an Open Interest increase can take the coin in either direction, but BTC has shown a consistent pattern in the past year. As the analyst has highlighted in the chart, the indicator entering into the same zone as now has generally turned out to be bearish for Bitcoin in this window. Related Reading: Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy In these instances, the Open Interest surge had occurred alongside price surges, indicating that long positions had been piling up. The latest growth in the indicator has also naturally come similarly. “We’re in a high-risk zone, and in my opinion, it’s not the best time for fresh long positions,” notes Maartunn. It remains to be seen how Bitcoin develops in the coming days and if it will hit the top, just like it did during those other instances. BTC Price Following the rally in the past day, Bitcoin has managed to find a break above the $66,000 level for the first time in almost two months Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

Feds dovish move will slash $625M in interest income for stablecoins

Author: Cointelegraph by Ana Paula Pereira
United States
Sep 28, 2024 12:00

Feds dovish move will slash $625M in interest income for stablecoins

CCData estimates stablecoins will lose approximately $625 million in interest income for each 50-basis point cut. Further cuts in 2024 could reduce annual revenue by as much as $1.5 billion.

Bolivia reports 100% rise in virtual asset trading since lifting Bitcoin ban

Author: Cointelegraph by Brayden Lindrea
United States
Sep 28, 2024 12:00

Bolivia reports 100% rise in virtual asset trading since lifting Bitcoin ban

The rise came immediately after Bolivias central bank lifted a 42-month ban on cryptocurrency payments, allowing financial entities to conduct transactions with digital assets.

Sep 27, 2024 02:15

Hong Kong Monetary Authority Announces Interest Rate for Retail Green Bonds Due 2026


The Hong Kong Monetary Authority has set the interest rate for the second interest payment on retail green bonds due 2026 at 4.75% per annum. (Read More)

Financial institutions are experimenting with Bitcoin-backed lending: Ledn

Author: Cointelegraph by Alex O’Donnell
United States
Sep 26, 2024 12:00

Financial institutions are experimenting with Bitcoin-backed lending: Ledn

Lower interest rates and accelerating crypto adoption are spurring more financial institutions to try Bitcoin-backed lending. 

VANA 101: How This Filipino-Led AI and Blockchain Platform Is Revolutionizing Data Ownership

Author: Nathaniel Cajuday
Philippines
Sep 26, 2024 02:50

VANA 101: How This Filipino-Led AI and Blockchain Platform Is Revolutionizing Data Ownership

Originally a research project in 2018, Vana is a distributed network for private, user-owned data, designed to enable user-owned AI.

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