Aurelia Butler

As of early Monday, over $370 billion had been erased from the market capitalization of all crypto assets over 24 hours, with Bitcoin experiencing its greatest single-day drop in three years. Much of the sell-off was linked to a broader market rout, with equities falling around the world.A death cross occurs when a short-term moving average crosses below a long-term moving average, typically signaling potential bearish momentum.In Bitcoin’s case, this pattern has emerged on the four-hour chart as the 50-hour moving average has crossed below the 200-hour moving average, an indication that many market analysts view as a bearish signal.At the time of writing, Bitcoin was up 9% in the last 24 hours to $54,851, according to CoinMarketCap data.On-chain analytics firm IntoTheBlock highlighted key levels to watch as the Bitcoin price shows signs of recovery.According to IntoTheBlock, on the upside, resistance is fairly distributed, but two price levels with notable historic volume stand out, which are $55,500 and $60,500.On the other hand, if declines continue, a significant demand level is concentrated below $50,000 with strong support anticipated around $47,500.Meanwhile, Bitcoin wallets holding between 1,000 and 10,000 BTC showed confidence during the recent dip, consistently increasing their holdings as prices fell. On the other hand, wallets with less than 1 BTC showed weak hands, with the most substantial decrease in holdings during yesterday’s market downturn.This article was originally published on U.Today More

This article was originally published on U.Today More

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced its latest product: Bybit Pre-Market Perpetuals. This innovative offering enables users to trade perpetual contracts on forthcoming tokens, providing an opportunity to engage with future values prior to their official market debut.Pre-Market Perpetuals are designed to offer early access to to potential promising new contracts. This helps users avoid potential entry cost increases due to price volatility at launch. Traders can place orders with up to 5x leverage before the contract is officially listed. If they match the specified price, orders are executed at the opening price upon a successful opening, and the position is seamlessly transferred to the new contract after the perp is listed – a unique benefit compared to Bybit’s competitors.Bybit’s introduction of Pre-Market Perpetuals is another innovation from a market leader that has won significant market share. Due to its superior UX and products, Bybit has become the second-largest crypto exchange across spot and derivatives markets. Pre-Market Perpetuals gives opportunities for early access and risk management and reinforces Bybit’s position as a trailblazer in the cryptocurrency market.#Bybit / #TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press. For media inquiries, users can contact: [email protected] more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony [email protected] article was originally published on Chainwire More

While both groups of investors buy and hold Bitcoin, those who consider it a technology stock panic sell it during a market turmoil and buy physical gold. “We don’t need them,” Ki Young Ju said. He gave the vision of Satoshi Nakamoto, the Bitcoin creator, to the community as an argument: “BTC should rise in tough times — that’s Satoshi’s original intent.”According to Martinez, BTC is now forming a Rising Wedge pattern, which often reverses and ends in an asset’s decline (in the case of a Falling Wedge, the price would reverse to a surge). Therefore, the analyst warns of a potential breakdown toward the $51,000 level even if Bitcoin could climb to the $56,000 or $57,000 level from the current trading point at $55,172.In an earlier published tweet, Martinez wrote that, amazingly, despite institutional investment in Bitcoin reaching a definite all-time high, market sentiment remains in the zone of “extreme fear.”BTC has begun to recover after the 18% plunge experienced at the start of the week. The flagship crypto crashed from roughly $60,000 and gone deep down below the $50,000 level on Monday. By now, Bitcoin has managed to recover approximately 11% of the lost value and is changing hands at $55,253. Overall, the losses suffered by Bitcoin between Friday and Monday totaled almost 24% as BTC collapsed from the $65,300 zone.This article was originally published on U.Today More

Bitcoin Startup Lab has initiated the Bitcoin Olympics along with other Bitcoin industry leaders, the largest online Bitcoin hackathon to date. Running from August 1st to 27th, the event will culminate in an award ceremony at BTCON on September 4th, celebrating the achievements of participants and the collaborative efforts of Bitcoin Olympics Partners and the Bitcoin ecosystem.Event HighlightsBitcoin Startup Lab, in partnership with leading Bitcoin innovators, has established a projected prize pool of $500,000 for hackathon contestants, demonstrating their commitment to supporting innovators and founders in the early stages of their startups.The 2024 Bitcoin Olympics Hackathon is a non-profit initiative that ensures 100% of the prize money, funded by sponsors, is awarded directly to the winners. The goal is to create a prize pool to attract innovators globally to the Bitcoin ecosystem and foster the next wave of groundbreaking developments in the rapidly expanding Bitcoin space.Key features of the event includeRegistering for the Online Bitcoin Olympics Hackathon: Participating in the largest online Bitcoin hackathon and competing for a share of the $500,000 prize pool.Attending BTCON: Users are encouraged to attend BTCON, the largest Bitcoin conference in South Korean history, to witness the forefront of Bitcoin innovation. Registration details are available online.The Bitcoin Startup Lab program and community: Users are invited to enroll in the 3-month program offered by Bitcoin Startup Lab to build a pre-seed investment-ready startup and become part of the leading innovation ecosystem on Bitcoin.According to the team, this initiative goes beyond mere competition; it represents a collective effort to spark the next wave of game changing innovation to build a sustainable global Bitcoin ecosystem.About Bitcoin Startup LabBitcoin Startup Lab is a premier platform to enable founders to build investment ready startups in record time. The Bitcoin Startup Lab supports innovators and entrepreneurs in developing groundbreaking startups by providing the resources, mentorship, and collaborative environment necessary to succeed. Through initiatives like the Bitcoin Olympics Hackathon, Bitcoin Startup Lab aims to build a sustainable and inclusive global Bitcoin community, driving the future of decentralized finance, blockchain, AI, and Metaverse technology.For more information, innovators and investors can follow and DM the Bitcoin Startup Lab on Twitter(X).ContactFounderAlbert LiangBitcoin Startup [email protected] article was originally published on Chainwire More