Nigerias SEC to crack down on unregulated crypto exchanges

Nigerias SEC will enforce regulations on unregulated crypto businesses as it aims to protect investors and encourage innovation in the growing market.

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US, Canadian investors to get full compensation in GSB Group settlement

The German group is accused of running a multilevel marketing scheme that took in hundreds of millions of dollars in supposed crypto and metaverse investments.

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Proof of Workforce and Careers In Government Partner to Integrate Bitcoin into Public Sector Jobs

Proof of Workforce Foundation and Careers In Government have teamed up to integrate Bitcoin into public sector employment practices, revolutionizing compensation and financial literacy.

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Binance Futures Introduces USD-Margined RPL Perpetual Contract with 75x Leverage

Binance Futures will launch the USD-margined RPL perpetual contract with up to 75x leverage, enhancing trading options. (Read More)

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Bitcoin Leveraged Positions Building Up: BTC To $50,000 Or $60,000?

Bitcoin is firm at spot rates, looking at the development in the daily chart. Even so, the downtrend remains, and price action remains within a bearish breakout formation. This outlook follows the dump on September 7 that saw the world’s most valuable coin plunge, approaching the all-important round number, $50,000. Bitcoin Leveraged Positions Building Up Technically, the downtrend remains, especially if bulls can’t unwind the losses of September 7. From an effort-versus-result perspective, the trend set in motion by September 7 will shape the short-term, possibly accelerating the fall below August lows. Related Reading: FET Teeters At Trendline: Will A Breakout Fuel A Run To $1.86? Amid this development, one on-chain analyst notes that there has been a massive accumulation of leveraged positions from March 2024. Though it remains uncertain which direction prices will move, the current state of affairs means sellers have the upper hand. If bulls take over, this would be a massive sentiment boost for BTC bulls, who have had to contend with sharp losses over the past three months. Regardless of the direction, this build-up in leverage position precedes a period of heightened volatility in the coming days. While Bitcoin trends lower, sentiment has taken a hit, explaining the shrinking trading volume over the past two weeks. Since late August, BTC has fallen from around $66,000, losing nearly 20% by last week’s lows.   At the same time, volatility is comparatively low and not unlike the state of affairs when BTC turned the corner, sharply expanding from late February before printing fresh all-time highs in mid-March 2024. Average Funding Rate Is Bullish, Will This Change? Interestingly, despite the lower lows, trading data shows that the average funding rate across derivatives exchanges has remained bullish for over a year. This development could be due to the shift in price action that saw the world’s most valuable coin turn the corner, rising from late Q3 2023. The recovery saw BTC shake off weakness and explode to above $70,000 after losses in 2022 that took the coin to as low as $15,800. Related Reading: Bitcoin Rainbow Chart Forecasts An End To Bearish Headwinds With $60,000+ Target For bulls to dominate in the derivatives market, prices must recover steadily. A break above $66,000 and July highs would likely spur demand, lifting the coin above the multi-month resistance at $72,000. Nonetheless, for this to happen, there must be inflows to spot Bitcoin ETFs. Falling prices have accelerated outflows from this product, meaning institutions are playing safe. So far, SosoValue shows outflows of over $169 million for spot Bitcoin ETF issuers in the United States. Feature image from DALLE, chart from Trading View

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PEPE Faces Key Support Test At $0.00000589 Will Bulls Hold The Line?

PEPE is facing intense bearish pressure, with its price trending downward toward a critical support level at $0.00000589. Recent market actions have shown that the bears are firmly in control, pushing the token closer to this key threshold. As sellers continue to dominate, the question is whether the bulls can step in to defend this level or if PEPE is set for further declines.  This article will analyze PEPE’s recent price action as it nears the critical support level at $0.00000589 by examining key technical indicators and market dynamics. It will explore whether the bulls can mount a defense to prevent further losses or if the bears will drive the token lower, aiming to provide a potential future outlook for the cryptocurrency. With a market capitalization exceeding $2.8 billion and a trading volume surpassing $602 million, PEPE was trading at approximately $0.000006683, reflecting a 6.47% decrease at the time of writing. In the past 24 hours, its market cap has dropped by 6,47%, while trading volume has increased by 74.80%. Current Market Sentiment: Bearish Signals Dominate On the 4-hour chart, although PEPE is attempting to move upward, it has maintained its downward trajectory after successfully breaking below the $0.00000766 level, continuing to trade below the 100-day Simple Moving Average (SMA). The asset is moving closer to the $0.00000589 support level, with negative market sentiment persisting. Also, the Relative Strength Index (RSI) on the 4-hour chart is currently at 31%, indicating that PEPE is in the oversold zone. This level suggests that selling pressure has been strong, potentially hinting at a short-term rebound or consolidation if the bears do not maintain dominance. On the daily chart, PEPE has shown significant bearish momentum since breaking below the $0.00000766 level and trading under the 100-day SMA. While the cryptocurrency is currently attempting an upward move, this rebound could be short-lived due to the prevailing bearish sentiment, which continues to exert pressure on the price. Finally, the RSI signal line on the 1-day chart is currently sitting at 36% as it continues to trend below the 50% threshold, suggesting that PEPE remains under bearish pressure, with the potential for bears to regain control and push the price lower. Whats Next For PEPE: Outlook For The Coming Days The current bearish trend, marked by negative momentum indicators, suggests that the bears could drive the price of PEPE to the $0.00000589 support level. If this support is broken, it could trigger further bearish action, potentially pushing the asset down to the $0.00000398 support level and possibly lower. However, if PEPE bounces back at the $0.00000589 support, it could retrace towards the resistance level at $0.00000766. Should the crypto asset break above this level, it could signal a further upward movement, possibly targeting the $0.00001152 resistance range and other higher levels. Featured image from iStock, chart from Tradingview.com

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Binance Futures to Launch USD-Margined NEIRO/ETH Perpetual Contract with 75x Leverage

Binance Futures announces the launch of USD-Margined NEIRO/ETH Perpetual Contract with up to 75x leverage, enhancing trading options. (Read More)

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Binance Futures to Launch USD-Margined QUICK Perpetual Contract with 75x Leverage

Binance Futures is set to launch a USD-Margined QUICK Perpetual Contract offering up to 75x leverage, enhancing trading options. (Read More)

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El Salvador marks 3 years of Bitcoin adoption with $31M profit

Despite widespread initial criticism, El Salvador is sitting on over $31 million worth of Bitcoin profit.

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U.S. Corporations to Invest $10.35 Billion in Bitcoin, River Report Predicts

A nw rport from Rivr, top Bitcoin tchnology nd finncil srvics compny, prdicts tht U.S. corportions will significntly incrs Bitcoin doption. Th rport projcts tht in th nxt 18 months, bout 10% of Amricn businsss will invst prt of thir trsury rsrvs in Bitcoin, with th totl mount potntilly hitting $10.35 billion. This influx […]

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US companies forecast to buy $10.3B in Bitcoin over next 18 months Report

The report claimed, a cash treasury supplemented with a 3% allocation to Bitcoin would have shielded companies from inflation since 2020.

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MARA Holdings Appoints New Board Members and Lead Independent Director

MARA Holdings Inc. announces the appointment of Janet George and Barbara Humpton to its board, and Doug Mellinger as lead independent director. (Read More)

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MATIC Slides Deeper: Will It Break The $0.3132 Barrier?

MATIC is under mounting bearish pressure as it continues its downward slide, drawing closer to a critical support level at $0.3132. A break below $0.3132 could open the door to additional losses, signaling a deeper bearish trend ahead. With the market sentiment turning increasingly negative, speculations are whether the bears can push the price beyond [...]

The post MATIC Slides Deeper: Will It Break The $0.3132 Barrier? appeared first on Crypto Breaking News.

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Dogecoin Falls Below Trendline Resistance, Eyes On $0.09149 Breach

Dogecoin (DOGE) finds itself in a challenging position as bearish forces continue to dominate the market. Currently trading below a key descending trendline, DOGE faces mounting pressure that could push the price toward the critical $0.09149 support level. With the bearish trendline acting as a formidable resistance, any failure to hold this support could signal further downside movement. This article aims to provide a comprehensive analysis of Dogecoin’s current negative outlook, highlighting its position under the trendline resistance and the potential implications of a breach below the $0.09149 support level. By examining key technical indicators and market sentiment, the article seeks to offer insights into whether DOGE will continue its downward trajectory or find a reversal. With a market capitalization exceeding $14 billion and a trading volume surpassing $471 million, Dogecoin was trading at approximately $0.9683, reflecting a 1% increase at the time of writing. In the past 24 hours, its market cap has risen by 1.01%, while trading volume has declined by 3.71%. Price Action Analysis: Assessing The Downward Pressure On Dogecoin On the 4-hour chart, Dogecoin, trading below the 100-day Simple Moving Average (SMA), is exhibiting consistent bearish momentum. The cryptocurrency is currently consolidating just above the $0.09149 mark.  Related Reading: Major Dogecoin Indicator Flashes Bullish, Is It Time To Buy? This consolidation near a critical support level suggests that despite brief attempts to recover, selling pressure remains dominant. If DOGE fails to maintain its position above $0.09149, it could trigger an extended decline, potentially pushing the price lower as bears continue to exert control. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) is positioned at 45%, failing to rise above the 50% mark. This failure to gain traction above the midpoint reflects persistent pessimistic momentum, suggesting that downward pressure may continue, as the RSIs position below 50% reinforces the likelihood of further bearish activity in the market. On the daily chart, Dogecoin is still demonstrating notable bearish movement below the 100-day SMA and the trendline. The cryptocurrency is currently approaching the support level at $0.09149, indicating ongoing downward pressure and the potential for more declines if this support fails to hold. Finally, the RSI signal line on the 1-day chart has fallen to 41%, slipping below the 50% threshold, reflecting a shift in momentum that could lead to additional downward movement in DOGE’s price. Potential Scenarios: What Could Happen If DOGE Breaks $0.09149? If Dogecoin breaches the $0.09149 support level, several scenarios could unfold. A successful break below this key support might intensify the downbeat trend, potentially driving DOGE toward the $0.07456 support range. Should this level be breached, the price could further decrease to test the $0.0559 support mark, and possibly explore even lower support zones. Related Reading: Dogecoin Price (DOGE) Struggles: Can It Overcome the Slump? Conversely, if Dogecoin holds above $0.09149 and reverses its decline, it could indicate a bullish turnaround, which might set the stage for a rally toward the trendline resistance. A successful break above this trendline could trigger a significant uptrend, possibly pushing DOGE toward $0.1293 and beyond. Featured image from Unsplash, chart from Tradingview.com

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Bitcoin trades under $57K, but data suggests pro traders are not bearish

Bitcoin price fell closer to $56,000, leading traders to question whether the bull market is coming to an end. US job market data could hold the answer.

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Hedera, IOHK join DeRec Alliance as final founding members

Cardano and Hedera join the Decentralized Recovery Alliance alongside Ripple and Algorand to shape the future of crypto security standards.

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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.

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Solana-Focused 3-Unit Course Now on its 2nd Sem in UP Diliman

A Solana-focused program is set to equip students from the countrys top university with the skills and industry connections needed to thrive in the rapidly growing web3 space.

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AI-Driven Innovation in 5G: Real-Time Neural Receivers Pave the Way

NVIDIA introduces neural network-based wireless receivers, enhancing 5G NR with real-time AI capabilities. Discover the future of AI-RAN and 6G research. (Read More)

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Riot Platforms Urges Bitfarms Shareholders to Elect New Directors at Upcoming Meeting

Riot Platforms calls for Bitfarms shareholders to vote for new board members to improve governance ahead of a crucial special meeting. (Read More)

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