Cryptocurrency

Saylor’s message comes at a time when some investors may be tempted to sell, with the Crypto Fear and Greed index suggesting that the crypto market is in extreme fear. Given the current market sentiment, panic selling driven by fear and uncertainty may result in hasty asset liquidations, prompting Saylor’s warning.The brief gain in the cryptocurrency markets following Friday’s U.S. jobs release was immediately reversed in volatile trading, bringing Bitcoin (BTC), the largest cryptocurrency, to its lowest level in a month.Following the announcement of the jobs data, Bitcoin (BTC) soared above $57,000, only to reverse the gains and fall below $54,000, its lowest level since Aug. 5.Cryptocurrencies saw mixed price action in early Saturday’s trading with Bitcoin down 3% in the last 24 hours to $54,360. Several cryptocurrencies also traded in the red, with Ethereum, Dogecoin and Pepe reporting losses of nearly 4%.The price movement sparked nearly $292 million in liquidations within the last 24 hours on crypto derivatives markets, as the volatility caught leveraged traders off guard, mostly longs expecting a further price gain, according to CoinGlass data.CryptoQuant CEO Ki Young Ju in a tweet today noted that Coinbase (NASDAQ:COIN)’s Bitcoin spot trading volume dominance has returned to pre-spot ETF levels. For the bull cycle to continue, U.S. demand needs to rebound, Ju added stating, “I expect this in Q4, but I could be wrong. We’re mid-cycle and haven’t hit the retail bubble yet.”According to crypto analyst Ali Martinez, “The Accumulation Trend Score is nearing 0, indicating that market participants are either distributing or not accumulating Bitcoin at the moment.”This article was originally published on U.Today More

Figure Markets today announced that, together with Veton Vejseli, a shareholder of Ionic Digital, it has requested access to certain company records under Section 220 of the Delaware General Corporation Law. This request seeks information to investigate potential misconduct by the Board of Directors and assess their performance of fiduciary duties.Figure Markets and Mr. Vejseli believe access to these records (the “Books and Records”) is crucial for protecting shareholder interests. This request arises from concerns about potential self-dealing behavior by board members and actions that may have disadvantaged shareholders. Specific areas of investigation include:In response to widespread shareholder dissatisfaction, Figure Markets initiated a grassroots social media campaign aimed at securing 25% of Ionic shareholders to call for a special shareholder meeting. Remarkably, despite the challenge of rallying 86,000 shareholders, none of whom hold more than 1% of the stock, Figure Markets has successfully garnered support from 29% of the outstanding shareholders.Figure Markets and Mr. Vejseli believe the Board’s actions may constitute gross negligence and warrant removal. They also express concern that these actions may have stripped shareholders of their voice in company governance. Access to the Books and Records represents a critical step towards restoring shareholder democracy at Ionic.This inspection request will allow Figure Markets and Mr. Vejseli to investigate potential misconduct and assess the Board’s performance of its fiduciary duties. They urge the Board to act with urgency and collaborate constructively to address shareholder concerns.The full text of the Books and Records demand can be found here.About Figure MarketsFigure Markets is democratizing finance through blockchain. We’re building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. We’re bringing best in class leverage, margin trading, and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities. Figure Markets puts our members in control of their assets and data, disintermediating legacy brokers, exchanges and lenders.Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.Learn more at www.figuremarkets.com.ContactPaula Jacklerpress@figuremarkets.comThis article was originally published on Chainwire More

It happened after the world’s biggest digital currency demonstrated a nearly 6% decline during the last 24 hours.On a Bitcoin chart shared by the trader, which shows a full scale of the current BTC correction, one can see that digital gold has been going down more or less steadily since mid-March, after it had reached an all-time high of $73,750.Since that historic peak, Bitcoin has by now declined by 26.39%. Sometimes it has been showing small recoveries, but if one zooms out on a chart, one can still see that BTC has been headed downward for more than half a year now. That has not been a steep but rather a prolonged correction for BTC.Brandt pointed out that “there are two dimensions to drawdowns – price and duration.” It is the duration factor that is being stronger now and, as Peter Brandt notices in his tweet, “Prolonged corrections can cause more emotional damage than can steep corrections.”The test of its lower boundary for Bitcoin, he said, would be approximately $46,000. The only thing now that can reverse BTC and “get the bull market back on track,” according to Brandt, is “a massive thrust into new ATHs.”Otherwise, the chartist stated, “Selling is stronger than buying in this pattern.”Mow expects an “Omega candle” to arrive soon, stating that its emergence “signifies the end of accumulation phase” for BTC.This article was originally published on U.Today More

Sept. 5, 2017, saw $211 million in net withdrawals from Bitcoin spot ETFs the seventh day in a row of outflows. Notable ETFs saw withdrawals of $23.2 million from Grayscale’s GBTC ETF and a significant $149 million loss from Fidelity’s FBTC ETF. Bitwise’s BITB ETF saw a $30 million withdrawal following the same pattern. As a result, the market’s declining institutional interest is reflected in the total net asset value of Bitcoin spot ETFs, which currently stands at $50.7 billion. The asset is presently trading below its 200 EMA, indicating a medium- to long-term bearish trend, according to the price chart of Bitcoin.The price is currently within a declining price channel, and this downward trajectory is anticipated to continue unless there is a notable change in market sentiment. The amount of $52,000, which is at the bottom of the declining channel, is the next important level to keep an eye on. An even more marked sell-off may occur if the price breaks this level and keeps falling.The bearish view is further supported by decreasing volume, which indicates that bulls do not have enough strength to drive the price higher at this point. A dearth of supportive market catalysts and institutional outflows seem to be the primary causes of the immediate selling pressure seen on Bitcoin. On the horizon, $52,000 is a critical level to keep an eye on. Investors should brace themselves for additional declines.It is clear from examining the provided chart that SHIB is trading in an extremely narrow range and has not made any significant price movements. Typically volatility is a crucial sign of market activity, and its absence indicates that SHIB is having trouble creating any excitement. Relative to the 10% threshold, there has been no movement, which suggests that institutional and retail investors are apathetic. A further impediment to any upward momentum is the technical position of SHIB’s price, which is stuck below the important moving averages. It is difficult for the asset to stage any significant recovery because of the 50, 100 and 200-day EMAs’ strong resistance levels.The narrative that few traders are currently interacting with the asset is supported by the low volume that persists. Due to the lack of short-term profit opportunities presented by the price action, SHIB holders probably feel as though they are in an eternal sleep during this inactive period. SHIB looks to have been left out and left in a state of uncertainty, even though the overall cryptocurrency market may be volatile.The price of XRP is struggling to maintain any momentum as it breaks below a number of important moving averages, including the 50 and 100-day EMAs, and the 200-day EMA is now serving as resistance, according to the provided chart analysis. It is a sign of diminishing buying interest and growing selling pressure that XRP was unable to maintain the $0.55 level.Although not to the point where it would cause a significant reversal, the relative strength index of 39 indicates that XRP is approaching oversold territory. The notion that buyers are reluctant to intervene and offer support for a recovery is further supported by the low trading volume, indicating that bears are currently in control of market sentiment.The recent problems witnessed by the cryptocurrency market as a whole are reflected in XRP’s collapse in the larger market situation. Along with a general decline in all assets, institutional investor withdrawals from Bitcoin have also indicated weakness.These more general market dynamics have probably had an impact on XRP’s recent price action. As there does not seem to be a clear catalyst to break the trend, XRP’s path of least resistance seems to be further downward.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, has released its latest Block Scholes Crypto Derivatives Analytics Report, offering critical insights into the current state of the cryptocurrency market. This week’s report dives deep into macro events, trading signals, and the ongoing shift in sentiment within the crypto derivatives space, highlighting the significant increase in implied volatility and growing bearish outlooks across the board.Following last week’s dip in spot prices, implied volatility has spiked across the entire term structure for major cryptocurrencies, notably for ETH, where short-term 7-day option volatility has matched long-tenor contracts. The derivatives market is skewing towards out-of-the-money (OTM) puts for short-term options, indicating bearish sentiment as spot prices remain subdued.Key insights from the report include:Users can download the full Block Scholes Crypto Derivatives Analytics Report today to get more detailed insights.#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: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTony AuBybittony.au@bybit.comThis article was originally published on Chainwire More

Aleph Zero will work alongside the world’s largest telecommunications organizations to help to develop standardized blockchain APIs for the industryAleph Zero, a blockchain ecosystem engineered for speed, data confidentiality, and ease of development, has officially joined the CAMARA Foundation as a General Member. This strategic move marks a significant step towards integrating advanced blockchain technology with global telecommunications standards, particularly in the realm of Decentralized Identifiers (DIDs).As a General Member, Aleph Zero will work closely with global telecom and tech leaders within CAMARA to develop and contribute to blockchain-specific initiatives. A key focus of this collaboration will be the Blockchain Public Address API, which has the potential to revolutionize how users interact with blockchain technologies through their mobile devices.The CAMARA Project, launched in 2021 under the Linux Foundation and GSMA, aims to create standardized APIs for telecommunications networks. This initiative is designed to simplify network complexities and provide seamless access to network capabilities across different operators and countries. A cornerstone of this effort is the Blockchain Public Address API, which was initiated in June 2023 and is currently in version 0.1.0. The CAMARA Project now includes over 230 companies – including Deutsche Telekom (OTC:DTEGY), stc, Vodafone (NASDAQ:VOD) and Telefónica – and 650 individual participants.This API allows for the management of blockchain addresses associated with phone numbers, offering features such as retrieval of blockchain public addresses linked to phone numbers, and the binding and unbinding of these addresses. By utilizing blockchain public addresses as Decentralized Identifiers (DIDs), the API enables telecom service providers to offer third parties the capability to pair phone numbers with blockchain addresses, thereby simplifying transactions for end-users.Aleph Zero’s expertise in zero-knowledge proofs and privacy-preserving technologies will contribute significantly to the further development and refinement of the group’s blockchain-related solutions. Antoni Zolciak, co-founder at Aleph Zero, said: “The integration of blockchain technology into mainstream infrastructure is accelerating at an unprecedented rate. Forward-thinking organizations across various sectors are recognizing the transformative potential of distributed ledger technologies. We’re looking forward to collaborating with various members of the Foundation and contributing to the telecommunications APIs from a blockchain standpoint.”Aleph Zero, known for its cutting-edge blockchain ecosystem, offers secure, scalable, and privacy-focused solutions for Web3 applications. With its zkOS and EVM Layer 2 network, Aleph Zero continues to push the boundaries of blockchain technology, focusing on privacy, scalability, and interoperability. Aleph Zero recently launched its EVM-layer, an exceptionally fast and efficient blockchain, boasting a block time of up to 250 milliseconds with near-instant transaction finality.For more information about the CAMARA Project, visit https://camaraproject.org/About Aleph ZeroAleph Zero is an ecosystem of blockchain solutions that are engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via highly optimized Zero Knowledge Proofs, and offers a comprehensive toolset for development across web3 that range from WASM to EVM environments. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications that are supported by Aleph Zero programs.For all media inquiries, users can contact josh@serotonin.coContactPR ManagerJosh AdamsAleph Zerojosh@serotonin.coThis article was originally published on Chainwire More

The timing of this call indicates a very bearish short-term outlook, as it coincides with one of Hayes’ first open public announcements of his short position on Bitcoin. Hayes recently posted, saying Bitcoin is looking heavy, and he is aiming at the sub-$50,000 price level, opening a short and asking for prayers.This attitude is consistent with the market’s general bearishness, as institutional investors have been noticeably leaving the market, and the general pessimism regarding the price of Bitcoin is still present. A further indication of the dire situation is the significant withdrawals from Bitcoin spot ETFs that have been occurring for the past seven days, indicating a decline in institutional investor interest.A net outflow of $211 million occurred on Sept. 5, with Grayscale’s GBTC ETF accounting for $23.2 million of that total. The outflow from Bitwise’s BITB ETF added another $30 million, and the outflow from Fidelity’s FBTC ETF was even more striking at $149 million. As investors are still reluctant to enter or hold positions in the current market environment, this ongoing capital outflow has significantly pushed down the price of Bitcoin. The extent of institutional withdrawal from Bitcoin spot ETFs is demonstrated by the fact that the total net asset value of these funds has now fallen to $50.727 billion. Hayes’ prediction that Bitcoin would fall below $50,000 does not seem implausible, given the current bearish sentiment.The graph unmistakably depicts Bitcoin as being in a downward price channel and surpassing important support levels like the 200 EMA. A decline to levels below $50,000 may be feasible in the upcoming days, due to ongoing outflows and impending uncertainty.This article was originally published on U.Today More