Cryptocurrency

Despite the gloomy outlook, Chris Burniske, a well-known crypto expert and partner at Placeholder VC, shared a bullish perspective.He pointed out that, even though Bitcoin and Ethereum are going through a period of consolidation, there are signs of strength across a wider range of blockchain projects. Even though the market is down, blockchains are still making their way into the wider social and tech landscape, noted the expert.Burniske’s optimistic view is not a new one. He was right about Solana last year when the price went back up after dropping to $9. This made him a lot more credible when the project actually came back from the dead.It is worth mentioning that the crypto market is gearing up for a few major unlock events that could have an impact on price movements. Next up are XAI (6.28%, $6.44 million) and GMT (3.68%, $9.79 million) on Sept. 9, followed by APT (2.23%, $66.39 million), ICP (0.51%, $17.04 million) and MOCA (2.01%, $17.12 million) on Sept. 11. On top of that, STRK is set to have a 3.6% ($27.63 million) unlock on Sept. 15.While the sentiment in the market may currently feel as though “Satoshi is dead,” as Burniske says, the upcoming events and continuing blockchain progress signal a potential bullish shift on the horizon.This article was originally published on U.Today More

She made it clear that the U.S. claims that there are not any large layoffs occurring and that the economy is deeply into a recovery. For cryptocurrencies like Bitcoin and others, this poses a crucial question: Will the strengthening U.S. influence Bitcoin’s performance or might it cause people to pay less attention to alternative assets like BTC?The chart for Bitcoin indicates a decline toward $54,573, but its recent performance has been inconsistent. Since data on inflation and job growth affect market sentiment, Bitcoin has been finding it difficult to gain traction.Bitcoin has historically profited from economic turbulence because investors use it as a store of value or as a hedge against inflation. Still, the story could be altered by the economy. The appeal of alternative assets like Bitcoin may decline if the economy keeps improving, especially with a robust labor market and decreasing inflation.Short-term BTC growth may be slowed by investors’ increased comfort in established markets. In addition, there may be cause for concern given the recent decline in nonfarm payroll data and the worst week for the S&P 500 since March 2023, however, these events may also portend a return to riskier assets once the economy stabilizes.Nevertheless, Bitcoin might see a comeback if Yellen’s bullish forecast proves to be overly optimistic, if inflationary pressures reappear or the economy contracts. It continues to be appealing as a decentralized asset to people who are not fans of centralized economic systems.This article was originally published on U.Today More

According to CNBC, Fed Governor Christopher Waller on Friday backed an interest rate cut at the central bank’s upcoming policy meeting in less than two weeks. Waller echoed Fed Chair Jerome Powell’s statement from late August that the “time has come” for monetary policy adjustment, however, he did not specify the pace and magnitude of the cuts.Other policymakers have recently urged for policy easing, but this is one of the clearest signals that it might occur at the Sept. 17-18 Federal Open Market Committee meeting.Waller’s statements come after a weaker-than-expected nonfarm payrolls report on Friday, which fueled speculation that the hiring pace is slowing. The Labor Department reported 142,000 job gains, up from July but still below the Dow Jones prediction of 161,000.Stocks earlier fell as the markets appeared to take a “wait and see” stance, with investors weighing the larger implications of the top Fed official’s remarks. Bitcoin and other major cryptocurrencies have been closely following global stocks in recent weeks.A looser monetary policy is frequently considered beneficial for speculative assets. This is because lower interest rates may encourage investors to seek better returns in riskier assets such as cryptocurrencies, potentially driving up prices.This article was originally published on U.Today More

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