Aurelia Butler

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    in Economy

    Questions in the wake of the global inflation hit

    Standard DigitalWeekend Print + Standard Digitalwasnow $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

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    in Economy

    Kenya’s mass protests expose African fury with IMF

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    in Cryptocurrency

    Bitcoin price today: falls to two-month low; $50k becomes key support

    The world’s biggest cryptocurrency took little support from weakness in the dollar, which fell amid increased bets on interest rate cuts by the Federal Reserve. Broader crypto prices also followed Bitcoin lower.At 06:00 ET (10:00 GMT), Bitcoin fell 5% to $57,722.0, just above the session’s low of $57,053.Bitcoin has been nursing steep losses over the past week as traders positioned for a potential mass sale event, stemming largely from defunct crypto exchange Mt Gox.The liquidators of the exchange said they will begin returning Bitcoin stolen during a 2014 hack to clients from early July. While the scale of the distribution remained unclear, traders bet that given Bitcoin’s massive price appreciation in the past decade, most receivers of the token would be inclined to sell.Such a scenario presents a large amount of selling pressure on Bitcoin. Several major whales were seen mobilizing Bitcoin on exchanges for a sale, while the token was also pressured by reported selling of confiscated tokens by the German government. Fears of a mass sale saw traders turn largely averse towards the world’s biggest cryptocurrency. This selling pressure spilled over into broader crypto markets, even as recent data showed some improvement in capital flows into crypto. However, despite these losses, new analysis from Glassnode suggests the Bitcoin market remains remarkably robust. According to the on-chain analytics platform, aggregate investor profitability is still strong, with the average coin holding a 2x profit multiple.Glassnode’s analysis reveals that the average coin in profit holds an unrealized gain of $41,300, with a cost basis of approximately $19,400, while the average coin in loss holds an unrealized loss of $5,300, with a cost basis of around $66,100. This divergence highlights potential sell-pressure points as investors weigh realizing gains against mitigating losses.The average cost basis per active investor remains around $50,000, Glassnode said, a key level the market needs to stay above to maintain the macro bull market.Broader crypto prices also retreated on Thursday and have also suffered over the past week.World no.2 token Ether fell 5.4% to $3,161.49 as traders largely disregarded recent speculation over a spot Ether exchange-traded fund. Ether touched an over one-month low, having largely wiped out gains made in May on hype over a spot ETF.XRP, SOL and ADA slid between 4% to 8%, while among meme coins, SHIB and DOGE shed around 8% each.Crypto prices took little support from weakness in the dollar, which fell as a swathe of weak labor market and business activity readings pushed up expectations of interest rate cuts by the Fed.Hawkish signals from the minutes of the Fed’s June meeting somewhat tempered this optimism, while several Fed officials also sounded caution over interest rate cuts.Focus was now on key nonfarm payrolls data due on Friday, which is set to offer more definitive cues on the labor market.(Ambar Warrick contributed to this article.) More

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    in Cryptocurrency

    Piggycell, a IoT based RWA project, secures investment from a public mainnet, Internet Computer

    Piggycel, a IoT-based blockchain RWA project, has secured investment from the global mainnet Internet Computer (ICP) and joined the ICP Olympus accelerator program.Piggycell is a blockchain RWA platform that users can expereince IoT based Charge To Earn (C2E) while charing their bateries. It is a decentralized platform linked to the No. 1 power bank sharing service in Korea, Piggycell, which has over 3 million users.The ICP Olympus program, announced in April 2024, is an accelerator program for the global 24th ranked (on Coinmarketcap data as of June 23, 2024) L1 mainnet operated by the DFINITY Foundation in Switzerland. It is a program that supports promising projects to grow into high-quality large projects in the ICP ecosystem by participating as investors and mentors, including Fenbushi Capital, Softbank (OTC:SFTBY) Vision Fund, and Cypher Capital.About Piggycell The Piggycell project is a pioneering initiative aimed at driving real-world applications and mass adoption of blockchain technology. By creating a digital twin of the assets from the already successful Web2 project Piggycell in a virtual world through blockchain, it seeks to imbue existing assets with new functionalities and philosophies, thereby generating higher value and achieving true blockchain [email protected] article was originally published on Chainwire More

  • 275 Shares139 Views

    in Cryptocurrency

    Bitcoin (BTC) Lost $63,000, Are We Going Below $60,000? XRP Could Not Break $0.48, Shiba Inu (SHIB) Shows Lowest Volatility Since 2024

    As of right now, Bitcoin is trading slightly above the crucial support level at about $60,885, according to the chart. While the 100 EMA at $63,754 and the 200 EMA at $58,260 are closer to the current price and offer support and resistance levels, the 50 EMA at $66,407 provides far-off resistance. More selling pressure may be applied to Bitcoin if it is unable to close above $63,000. There may be a brief upswing in the price of Bitcoin as the RSI at 36 suggests that the market is getting close to oversold territory. The next major support level, which is around $55,000, may be reached if the price is unable to gather momentum and breaks below the 200 EMA at $58,260. Bitcoin needs to maintain above the 200 EMA and gain upward momentum in order to have a more optimistic outlook. XRP must maintain its current levels and gain strength in order to confront the 50 EMA at $0.5031 to provide a more positive estimate. If XRP were to break above this barrier, it might indicate a possible change in sentiment and allow it to go toward the 100 EMA, which is located at $0.51.The price could move toward $0.55 and higher if there is consistent trading above these important moving averages, which would suggest a stronger recovery and possibly draw in more buyers. The mood of the market as a whole has a major impact on XRPs price fluctuations. Good news or advancements on the market may provide some support for XRP. However, there is not much happening right now. SHIB is trading at about $0.00001691, which is a significant decrease from its peak earlier this year. SHIB is below each of its three major moving averages, according to the technical indicators. Luckily, Shiba Inu is on the verge of hitting oversold values. The worst thing is that SHIB is becoming less attractive to speculative traders as a result of the decrease in volatility, which has resulted in a more stable but dull price movement. Although this stability first appears to be advantageous, it also results in less liquidity and fewer trading opportunities.In the absence of volatility, traders seeking to profit quickly from price fluctuations find SHIB less alluring. In order to restore volatility to SHIB and draw in more traders, a number of conditions must be met.SHIB may see a spike in volatility if it can break above the 50 EMA and hold its price above significant resistance levels. On the other hand, a protracted period of stagnation may result if the sideways trend is maintained and SHIB is unable to break above its moving averages. The asset’s attractiveness would be further reduced in this scenario by a likely decrease in trading volume and interest.This article was originally published on U.Today More

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    in Economy

    Food from outside EU enters Britain unchecked, customs agents warn

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    in Economy

    Portugal to reintroduce tax breaks for skilled foreigners

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    in Economy

    European central bankers warn of risks to region’s economy

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