Cryptocurrency

The analysis comes as Bitcoin has struggled to hold onto its previous highs, falling 3.86% this week to around $66,000. The cryptocurrency has not hit a new high in 91 days, contributing to bearish sentiment among market participants.Despite the short-term bearish outlook, Brandt also identifies a potential for growth. His chart includes a note about a “pump,” a term he has used before to describe the rebound phase in Bitcoin’s price cycles. Earlier this year, when Bitcoin was trading at $42,300, Brandt highlighted the pattern of a “Hump with a Slump then a Pump and a Dump,” noting that such movements are common in bull runs.According to Brandt, this pattern separates inexperienced traders, who buy during the “pump” phase only to sell at a loss during the “dump,” from seasoned investors who understand the cyclical nature of crypto. He believes these patterns are essential to maintaining a healthy bullish trend.Currently, Brandt sees a similar scenario, where Bitcoin could experience a significant dump, followed by a strong pump starting around the $60,000 level.This article was originally published on U.Today More

Meanwhile, the value of “Notcoin” has surged by up to 16% in the past few hours after the trading pair was listed.At the time of writing, the token has risen by 10% in the last 24 hours, trading at $0.018. It is among the biggest gainers today, with its market value increasing to $1.84 billion.The small cryptocurrency also saw a 65% increase in its 24-hour trading volume, reaching $1.26 billion. However, the token is trading 37% below its all-time high of $0.0289, which was reached on June 2.The new surge in “Notcoin” comes as the global cryptocurrency market returns to the green, with the total market cap now around $2.46 trillion.Meanwhile, Bitcoin has also seen a slight increase over the past 24 hours, now hovering around $67,814. Ethereum, the second-largest cryptocurrency by market cap, is trading at around $3,500. More

MultiBank.io, the cryptocurrency division of the renowned TradFi broker MultiBank Group, is set to revolutionize the financial landscape with the launch of Real-World Assets (RWAs).This innovative initiative simplifies the integration between cryptocurrency and traditional markets, eliminating the need for complex transactions. Soon, users will be able to effortlessly navigate between cryptocurrencies and traditional assets like stocks, indices, and commodities within the secure and user-friendly MultiBank.io platform.Expand Your Investment Horizons:Imagine a world where crypto and traditional markets work together. MultiBank.io’s soon-to-be-announced RWAs are the key, unlocking a truly unified investment landscape!Invest beyond crypto. Invest in your future. Sign up with MultiBank.io today and unlock a world of boundless investment possibilities!ABOUT MULTIBANK.IOMultiBank.io, a leading cryptocurrency exchange under MultiBank Group, offers a user-friendly platform for instant, secure trading including Bitcoin and Ethereum, crypto derivatives, and soon Real-World Assets. For more information, visit https://multibank.ioABOUT MULTIBANK GROUPFounded in California, USA, in 2005, MultiBank Group has grown to command a daily trading volume exceeding $12.1 billion, serving over 1 million customers. MultiBank Group has matured into one of the largest online financial derivatives providers globally, offering an array of brokerage services and asset management solutions. The group’s award-winning trading platforms offer up to 500:1 leverage on a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Digital Assets. For more information, visit https://multibankfx.com Ready to break down the barriers? Visit https://multibank.io/ and create your free account today!ContactFaouz [email protected] article was originally published on Chainwire More

The agency sends a newsletter to its customers, in which it informs them about companies that it believes to be overvalued or noticed to be engaged in fraud, scams, etc. It also strives to identify frauds on financial markets and seeks to expose terminal business models.The reason here is that they have decided to respect the irrationality of the market. Here they made a mention of Dogecoin as an example of a similar asset, which is worth $20 billion in terms of market capitalization and is sort of representative of “the market’s irrationality”: “We respect the market’s irrationality. After all, Dogecoin remains a $20 billion entity.”According to Reuters, though, founder of Citron Research Andrew Left said that should GME reach $45-$50 per share, he would begin shorting it again.Those two influencers were Anthony Scaramucci and Jan3 chief executive Bitcoin maximalist Samson Mow. The latter believes that, in that case, both BTC and GME would see “Godzilla candles” immediately.This article was originally published on U.Today More

This better-than-the-expected-0.1% value implies that Federal Reserve monetary policies, as concerns keeping inflation steady, have been working overall. The upside might be felt with a recovery in risk-on assets like Bitcoin.At the time of writing, the digital currency has maintained its bearish drawdown, down by 3.76% in the past 24 hours to $67,351. This is a major derailment from the mildly bullish momentum from earlier in the week, when the coin made emphatic moves to surpass the $70,000 price level.Per the current outlook, the digital currency might be reacting to the news negatively, as a stronger PPI means a resilient economy, which gives corporate investors extra incentive to choose traditional assets over the risk asset.With spot Bitcoin ETFs actively trading in the United States, the United Kingdom, Canada and recently Hong Kong and Australia, there are enough avenues to buy the coin and drive the price up in the long term.Despite the drawdown, more than 513 million Bitcoin, or $34,291,565,528, has been traded in 24 hours atop a 17% jump. This is an indication of a bullish twist that might contribute to the BTC revival hurdle.This article was originally published on U.Today More

Devour, the leading web3-powered food ordering platform, announced today that it’s simplifying crypto payments for millions of users with the integration of Coinbase (NASDAQ:COIN) Commerce into its DevourGO checkout. This innovative move allows crypto enthusiasts to seamlessly pay for their favorite meals using their existing Coinbase.com or Wallet accounts, all within the DevourGO app.Devour is a trailblazing platform that transforms the digital dining experience, uniquely integrating food ordering into the gaming and streaming worlds for Gen Z. It’s more than an app; it’s an innovative ecosystem where games, entertainment, and food converge. With the Devour Platform, we’re tapping into the lifestyles of over 200 million U.S. gamers, offering a seamless blend of entertainment and convenience. Learn more at devour.io.About CoinbaseCrypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.For media inquiries or to request an interview with CEO Shelly Rupel, users can contact Leah Smith at [email protected] [email protected] article was originally published on Chainwire More

The world’s biggest cryptocurrency fell 2.1% in the past 24 hours to $67,850.9 by 08:30 ET (12:30 GMT). The token clocked wild swings this week, rising as far as $70,000 before falling sharply. Traders remained largely averse to Bitcoin and broader cryptocurrencies in the face of high-for-longer U.S. interest rates.While the Fed kept rates unchanged on Wednesday, as expected, Chair Jerome Powell said the central bank now saw the possibility of only one rate cut this year, compared to prior expectations of three cuts.Several policymakers also called for no rate cuts this year, stating that more progress needed to be made in bringing down inflation. The Fed also hiked its inflation forecast for the year. The Fed’s comments came after data earlier on Wednesday showed U.S. consumer inflation eased slightly more than expected in May. While Bitcoin saw some gains after the inflation reading, it lost ground after the Fed’s comments.High rates bode poorly for speculative assets such as crypto currencies, given that they limit the amount of liquidity available for investing in the sector. While recent capital flows data showed institutional investors were still pouring in some money into crypto, this was barely reflected in token prices. Focus is now on producer price index inflation data for more cues on U.S. inflation. The reading is due later on Thursday.The prospect of high for longer U.S. interest rates also weighed on broader cryptocurrency prices. World no.2 token Ether slid 3.3% to $3,516.65, giving up even more of its gains made in the prior month.Solana and XRP fell 2.1% and 0.1%, respectively, while Cardano climbed 0.5%, though all three coins were trading down for the week.Among meme tokens, SHIB dipped 2.4% while DOGE rose 2.5%. But sentiment towards the two was largely cooling in tandem with diminishing interest in meme stocks on Wall Street. GameStop Corp (NYSE:GME) lost even more ground on Wednesday and wiped out most of a rally seen in late-May. Business intelligence form and largest corporate holder of Bitcoin, MicroStrategy, said on Thursday it will offer $500 million in convertible senior notes due 2032.The proceeds will be used to purchase additional Bitcoin and for other corporate purposes. The offering is contingent on market conditions, with no guaranteed timing or terms.”MicroStrategy also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $75 million aggregate principal amount of the notes,” the company wrote in the announcement.MSTR shares were down 1.4% in premarket trading.Starting June 20, 2029, MicroStrategy may redeem all or part of the notes for cash, subject to certain conditions. The private offering will be available to individuals qualified as institutional buyers under Rule 144A of the Securities Act of 1933.Currently, MicroStrategy holds 214,400 BTC, valued at over $14 billion, making it the largest public-listed Bitcoin holder. More

Over the past few weeks, the price of Bitcoin has experienced considerable perturbations. It quoted around $70,000 before suddenly dropping more than 4%, causing epic market liquidation and anxiety among traders. This drop followed a period of price consolidation in which Bitcoin seemed poised for a new high.Bollinger addressed the market’s belief that extended periods of consolidation can lead to significant price gains. He referenced an old market principle, “the bigger the base, the higher in space,” suggesting that a strong base period could lead to significant upside. This idea is particularly relevant given the crypto market’s tendency to swing between fear and greed.His latest comments are in line with his previous predictions. About a month ago, when Bitcoin was trading near $70,000, Bollinger hinted at a possible price pullback. That prediction came true as the price fell to $67,000, where it is currently trading. The key question now is whether BTC will hold this level or see further changes.Does Bollinger really expect the price of the major cryptocurrency to fly into space after such a prolonged test of traders’ nerves? It will be interesting to see what happens next.This article was originally published on U.Today More