Cryptocurrency

Looking at the chart, it can be seen that Bitcoin is still stuck in a downward channel and is unable to move out of it. Prices have been circling around $60,000, which indicates that bulls are being tentative and weak. The present price seems to be a critical support that may determine whether Bitcoin keeps falling or makes a brief reversal. A crucial mark for traders to keep an eye on is $60,000. The next significant support for Bitcoin is located around $58,000 if it is unable to hold above this level. Significant buy orders have been placed here, and a bounce might take place. But if Bitcoin is unable to hold $58,000, there may be more declines toward $56,000 or even lower. On the other hand, Bitcoin needs to recover at least $62,000-$63,000 and exit the downtrend channel in order for any bullish sentiment to surface again. This would be an indication that bulls are gathering steam and may once more target the $65,000 region.One way or another, it is almost safe to say that “Uptober” is canceled, as there is not much traction going on around the first cryptocurrency. The majority of traders are leaning toward selling and safeguarding their existing positions rather than accumulating.This article was originally published on U.Today More

Blocksquare today announced its latest partnership with FractioneX, a real estate tokenization platform with a mission to explore new ways of making homeownership more accessible for first-time buyers. This strategic collaboration will leverage Blocksquare’s robust tokenization infrastructure to enable FractioneX to offer fractional interests in real estate, particularly aimed at making property investments more flexible.FractioneX is introducing an innovative approach to real estate investment, with a focus on first-time buyers facing increasing affordability challenges. By tokenizing properties, FractioneX offers the opportunity for individuals to acquire fractional interests in real estate, which may lower the financial barrier to entry. FractioneX’s initial offerings include a selection of properties in the UK, such as a three-bedroom house in Wales and a two-bedroom flat in the Midlands. While these opportunities allow investors to diversify their portfolios, the model also provides access to a share of potential rental income and possible property value appreciation.In support of the launchpad campaign, FractioneX has announced a promotional airdrop of 1,000 BSPT property tokens, representing 1% of the initial property valuation, for early supporters of the marketplace pool. The airdrop is subject to terms and conditions, and eligible participants will receive tokens ahead of the first property listing as a reward for their early engagement. Full details of the airdrop and terms will be made available through the official campaign portal.In addition, FractioneX aims to expand into commercial real estate, offering fractional interests in office spaces and retail properties. This approach opens up more diverse real estate investment opportunities, making both residential and commercial properties more accessible to a broader range of participants.Campaign Details:About BlocksquareBlocksquare offers SaaS solutions for blockchain-based real estate tokenization. Headquartered in Ljubljana, Slovenia, Blocksquare’s platform aims to power a global network of marketplaces, connecting investors to real estate opportunities in their region. Through its real estate tokenization protocol, anyone can digitize real estate assets at a fraction of the cost, while providing the quickest way to launch an online marketplace. Blocksquare’s Oceanpoint adds a DeFi layer to its established tokenization infrastructure to create borderless access to real estate financing, for anyone with an internet connection. Website | X | Telegram | Blog | Facebook (NASDAQ:META) | Reddit | LinkedIn | Token overview | About FractioneXFractioneX utilizes property tokenisation and blockchain technology in order to create alternative saving solutions and buying options for first time buyers to own a home faster.ContactCMOJulia BuchholzBlocksquaremarketing@blocksquare.ioThis article was originally published on Chainwire More

The world’s biggest cryptocurrency briefly broke below a key support level on Thursday but managed to recover above $60,000, albeit briefly. Broader crypto markets were also mostly subdued. Bitcoin rose 0.6% to $61,403.0 by 09:26 ET (13:26 GMT). The token was trading down 2.3% this week. The U.S. Securities and Exchange Commission on Thursday charged crypto market maker Cumberland DRW with acting as an unregistered dealer for over $2 billion in crypto assets since 2018. The move is the latest in the SEC’s long-running crackdown against what it perceives as multiple violations of securities law in the crypto industry. The agency is currently engaged in lawsuits against exchanges Kraken and Coinbase (NASDAQ:COIN) over allegations of breach of security law, on the grounds that crypto tokens fall under securities law. The case against Cumberland ramped up concerns over more regulatory action against the crypto industry. Recent speculation over a mass token sale by the U.S. government- of the nearly 64,000 Bitcoin confiscated from the Silk Road website- had also dented crypto prices.On the regulatory front, markets are now focused squarely on the 2024 presidential election, where pro-crypto, Republican candidate Donald Trump faces a tight race with Democratic nominee Kamala Harris. Harris is expected to likely continue the Biden administration’s crackdown against crypto. In other crypto developments, cryptocurrency exchange Bitnomial has filed a lawsuit against the SEC, accusing the agency of overstepping its authority by attempting to regulate a proposed XRP futures contract in conjunction with the Commodity Futures Trading Commission (CFTC).In a filing made on Thursday with the U.S. District Court for the Northern District of Illinois, Bitnomial argued that the CFTC should have sole jurisdiction over the futures, and the SEC’s involvement would significantly increase its regulatory burden. The exchange had self-certified the XRP futures on August 9, confirming that they did not breach CFTC regulations.”Bitnomial disagrees with the SEC’s view that XRP is an investment contract and, therefore, a security, and that XRP Futures are thus security futures,” the filing stated.This lawsuit mirrors a similar action filed by Crypto.com earlier in the week. In that case, the exchange responded to an SEC warning about a potential enforcement action, describing its lawsuit as “a warranted response to the SEC’s regulation by enforcement regime which has hurt more than 50 million American crypto holders.”Risk appetite was also dented by hotter-than-expected consumer price index inflation data released on Thursday, which furthered bets on a slower pace of interest rate cuts by the Federal Reserve.Relatively higher for longer interest rates bode poorly for speculative assets such as crypto.The dollar raced to two-month highs this week, further pressuring crypto valuations.Still, markets maintained bets that the Fed will still cut interest rates, at least by 25 basis points in November. Some soft readings on the labor market furthered this notion.Among broader crypto prices, most major altcoins tread water on Friday and were set for mild weekly losses. World no.2 crypto Ether steadied at $2,420.56. SOL, ADA, and MATIC climbed between 1% and 3%, while XRP fell marginally.Among meme tokens, DOGE added 1.5%.Ambar Warrick contributed to this report.  More

Significant changes in on-chain volume typically draw attention because they may indicate that market participants are putting themselves in a position to take advantage of impending moves, whether they be bullish or bearish. Based on the available information, the price of SHIB has been exhibiting a symmetrical triangle pattern, a technical configuration that typically results in a breakout in either direction when volatility decreases. This is in line with the usual behavior observed in these patterns, where volume tends to decrease as the asset gets closer to the triangle’s tip. This points to a potential spike in price volatility that might occur shortly and cause a breakout. Although the rise in major transactions might be seen as a bullish indication, there is no inherent bias in the symmetrical triangle. SHIB could surpass significant resistance levels like the $0.000018 mark with an upside breakout, indicating a more robust bullish trend. A downside break, though, might force the price back to test the $0.000016 level or even lower. It is still crucial to keep a close eye on the technical pattern and the on-chain data given the general sentiment of the market and SHIB’s relationship to Bitcoin and other significant assets. Large investors’ continued accumulation might serve as fuel for a longer-term price rebound. On the other hand, SHIB may find it difficult to hold its current price if momentum wanes.The price chart shows that Bitcoin is still fighting bearish pressure, as it has not been able to break through key resistance levels that would indicate a more robust recovery. Technical indicators of Bitcoin like the 50- and 200-day moving averages are currently in a range where further consolidation or further downward pressure on the price is possible. Bitcoin is stagnating, and one major reason for this is the lack of bullish momentum. Because bulls are not putting much effort into driving the price higher, BTC is susceptible to more declines. In addition, the asset appears to be circling around a neutral zone according to the Relative Strength Index (RSI), which indicates market indecision.Sellers are attempting to drive the price lower in an effort to capitalize on the market’s indecision, which is adding to the bearish pressure. If current circumstances continue, Bitcoin may test support levels at $58,000 to $59,000 – if it does not receive a significant push from bulls.Although there has been growing bearish pressure on the asset over the past week, Solana may be due for a rebound, according to the ascending trendline support. Such supports for trendlines have historically been important in reversing negative trends and creating the foundation for upward movement.If SOL is able to maintain this level, a rebound may start, which would mean an attempt to breach higher resistance levels. The $150 zone and the $145 mark,which correspond with recent resistances, are important levels to keep an eye on. A break above these levels of resistance may herald a more substantial recovery and provide the impetus for a longer-lasting upward trend. Subsequent selling may ensue if the present support level is broken. The next support is located at approximately $130. As of right now, the Relative Strength Index (RSI) suggests that Solana is not in an oversold area, which suggests that there may be room for further upward momentum. The RSI, however, is almost at neutral, indicating that the market is still uncertain.This article was originally published on U.Today More

The most recent period was no exception, when the cryptocurrency market was under fire due to unsatisfactory macroeconomic data. The businessman literally portrayed himself as a firefighter in uniform, with the BTC logo putting out the fire. This epic work of artificial intelligence was a companies by a “Bitcoin to the rescue” caption.However, what is happening in the economy, which is clearly in recession, is not necessarily the same as what market participants are seeing, and they seem to be expecting monetary easing to continue. In that case, you could say that Saylor is picking the right side, promoting Bitcoin as a safe haven in a time of market conflagration. However, there is little doubt that the businessman would have chosen BTC in any other situation as well.This article was originally published on U.Today More

This article was originally published on U.Today More

The market does not seem to be in a good mood at the moment either, as Bitcoin has lost over 2% in the last 24 hours, hitting a key support zone at $60,000. The ambition to break above $66,000 per BTC and achieve a new all-time high in so-called “Uptober” now looks more challenging than it did at the end of September.Back highlighted that a retest of the $58,000 level would be necessary for further action, indicating his strategy for dealing with the current situation. This level, previously a key support zone, has become an important marker for market participants navigating recent chaotic times on the cryptocurrency market.This level could be the next stop for Bitcoin if bulls give up at current levels and bears take over. However, a move below this level could open the door to as low as $52,000 per BTC, and beyond, to lows not seen since early August.The drop to $58,000 and the rise from there, if it happens, could be seen more as a bounce or a bear trap. If that is the case, then the strategy that Adam Back is preparing to implement could be of considerable benefit. But if $58,000 per BTC is not the last stop and the bottom is a double bottom, then you would do well to have more cash on hand.This article was originally published on U.Today More

Among them was the much-hyped documentary about the search for Satoshi Nakamoto, “Money Electric: Satoshi Mystery,” which was released earlier this week.The great thing about Bitcoin is that the creator remains unknown, Pomp said, suggesting that should Satoshi be exposed, it might have negative consequences if he were a carrier of certain political views or had a criminal past. As long as he remains a mystery, Bitcoin is much better off than other cryptocurrencies. “The world is better off not knowing who Satoshi was,” Pompliano insisted. He tweeted the same thing earlier this week too.As for the documentary itself, he stated that the creators put a lot of loose, random evidence together. If it should be watched, it should not be taken seriously, Pompliano believes, but rather only for entertainment purposes.Polina Pompliano insisted that a lot of people remain curious about the true identity of Satoshi. To that, Pompliano jokingly responded: “Put your curiosity back in your head.”On the other hand, Pompliano said that there are investors who are attracted by Vitalik Buterin’s high IQ level.As reported by U.Today, early Bitcoin investor Samson Mow, who was featured in the HBO documentary, shared a similar view on Satoshi today. He tweeted that Nakamoto knew that if Bitcoin became successful, “they’d come after him.”This article was originally published on U.Today More