Aurelia Butler

In a video posted on his X account, he revealed the price level at which he would be ready to buy more BTC. As a long-term holder, Portnoy does not see any reason for buying at the $60,000-61,000 price level. If the price drops below $50,000, Portnoy plans to buy $5-10 million in Bitcoin. According to data provided by CryptoQuant, ultra-long-term holders are currently selling Bitcoin. Anticipating a stronger bull market, they do not see any reason to stay in the asset as the BTC price declines.According to IntoTheBlock, long-term Bitcoin (BTC) holders have sold off approximately $10 billion worth of BTC in May 2024. The pace, however, slowed down in June, with over 40,000 BTC sold by holders. This past week Bitcoin faced some major challenges. Just two days before the end of Q1, the cryptocurrency could not break the resistance level and dropped below $60,000.Despite the current rebound, the BTC price is struggling to climb back above $70K level, which it tested in March for the first time. In June, Bitcoin lost 14% in its value, dropping from $71,000 to around $60,000.This article was originally published on U.Today More

The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC’s lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws. The SEC’s suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.The regulator also accused Binance of unlawfully facilitating trading of several crypto tokens the SEC deemed unregistered securities. The ruling adds to the exchange’s woes after Binance agreed in November to pay $4.3 billion to settle with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches. Still, Friday’s ruling marks a partial victory for the broader cryptocurrency sector as she sided with a previous judge in saying that the SEC had not made its case that secondary sales of Binance’s tokens – sold by sellers other than Binance on exchanges- were not securities. More

According to Schiff, Bitcoin’s value has dropped over 15% as it approaches the end of Q2, while gold has seen a 4% gain during the same period. This disparity has led Schiff to caution investors who might have shifted from gold ETFs to Bitcoin ETFs, stating that they are now 20% worse off and predicting that the situation could deteriorate further.Bitcoin’s recent price movements show a decline from just under $71,000 to approximately $60,800, marking a more than 14% drop. This dip follows a substantial rise earlier in the year, where Bitcoin soared nearly fivefold from its January 2023 lows to a new all-time high above $73,500 in mid-March. Despite this correction, some analysts consider it part of a larger bull market.Julio Moreno from CryptoQuant has noted a decrease in Bitcoin demand, with a reduction of 23,000 Bitcoins in the past 30 days, which he links to the current price correction.This article was originally published on U.Today More

First of all, BTC’s price action indicates a significant buying zone at $58,000, a level of historical support. The 200-day moving average, or the black line on the chart, and this support level imply that a Bitcoin rebound may be imminent. The volume profile shows more encouraging signs. Due to the recent drop, trading volumes have increased, suggesting that buyers are still very interested in the product at these reduced prices. Heightened activity typically signals an impending price reversal because it is an accumulation by investors anticipating gains in the future. Moving averages offer an additional level of understanding. Though these levels frequently serve as dynamic support and resistance zones, the chart indicates that Bitcoin is currently trading below the 100-day and 50-day exponential moving averages. A break above these moving averages on Bitcoin suggest a possible trend reversal and a move in the direction of bullish momentum.For now, there is no distinctive fuel for the asset, and it is unlikely to appear in the foreseeable future, unless the Ethereum ETF pushes the market forward as a whole. The chart indicates that XRP has had difficulty keeping up its upward momentum and has continued failing to breach significant resistance levels. To suggest a possible trend reversal, XRP must cross above the 26-day Exponential Moving Average (EMA). This level has served as a barrier, and a successful breach might herald the start of a bullish phase. The volume analysis reveals that traders have differing opinions, though. Trading volume has occasionally spiked but not consistently enough to allow for a long-term upward trend. Significantly higher buying volume is necessary for XRP to maintain its reversal attempt. This would give the market the momentum it needs to break through resistance levels and keep prices higher.XRP is presently in the neutral zone, according to the Relative Strength Index (RSI). There is potential for upward movement because this shows neither overbought nor oversold conditions.The 200-day Exponential Moving Average (EMA) is represented by the $0.13 mark on the chart, which indicates that Dogecoin has been finding it difficult to break above significant resistance levels.A successful break above this level, which has historically been a major resistance point, might signal a bullish reversal. There may be cause for concern as volume analysis indicates that trading activity has been relatively muted. Dogecoin requires a sizable rise in purchasing volume to continue its upward trend. The momentum needed to convincingly break through the 200 EMA may be hampered by a lack of consistently high trading volumes. The relative positions of the 100-day and 50-day EMAs are also noteworthy. At the moment, Dogecoin is trading below both of these moving averages, which typically denotes a downward trend. But DOGE would be a very bullish indicator if it could muster enough buying pressure to break through these levels. Some additional information is offered by the Relative Strength Index (RSI).The fact that Dogecoin’s RSI is currently circling the neutral zone indicates that there is still potential for upward movement without an overbuying situation. A move above the RSI’s 50-point threshold would boost confidence in a possible bullish breakout.This article was originally published on U.Today More