How the Bank of Japan wrecked the yen carry trade — and crypto markets
Why did the crypto market lose 15% of its value in one weekend? Thank the Bank of Japan for playing a starring role.
External news feeds 844/2354
Bitcoin decline is similar to the start of the 2016 bull run: Peter Brandt
Bitcoin declined by a very similar amount following the halving in 2016 and before the 2017 bull run.
Bitcoin Drops Hard: Time To Fade The Trend And Buy BTC?
Bitcoin is under immense selling pressure at spot rates, crashing below critical multi-month support at around the $53,500 to $56,000 zone. As bears take over, there are concerns that the coin could, after all, slip even lower, plunging towards the…
Bitcoin Price Bounce Back: Could the Recovery Lose Momentum?
Bitcoin price started a recovery wave after it crashed below $50,000. BTC is back above $55,000 and faces many hurdles near the $58,000 zone. Bitcoin started a recovery wave above the $52,500 and $55,000 levels. The price is trading below $58,000…
Crypto critics file updated campaign finance complaint against Coinbase
The complainants and Coinbase disagree on whether a government contract to custody seized crypto breaches campaign finance laws or not.
Google Pay, Amazon Pay, Walmart-Backed Phonepe Eye Entry Into RBI’s Digital Rupee Program
Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking…
French Regulator Begins Accepting Crypto Service Provider Applications Ahead of MiCA Regulation
The French financial regulatory authority has begun accepting applications for authorization as a crypto asset service provider under the European Markets in Crypto-Assets (MiCA) Regulation, ahead of its implementation in December 2024. This…
Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000
Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a…
SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request
Lawyers for the U.S. Securities and Exchange Commission (SEC) are pushing back against what they describe as Coinbase’s “breathtakingly broad” subpoena requests searching for “essentially all documents that in any way relate to crypto.”
US Bitcoin, Ethereum ETFs hit $6B volume amid market rout
Bitcoin sunk to under $50,000 at the start of US trading on Aug. 5, prompting a huge spike in trading volumes of crypto-related ETFs.
Wharton Professor Calls for Emergency Rate Cut Following Market Downturn
Jeremy Siegel, a finance professor and chief economist, has called for an emergency 75 basis point cut in the fed funds rate following a market downturn. He emphasized the necessity of this cut and suggested another rate cut next month to align…
XRP Ledger Sees Sharp Decline In Major Metric That Threatens To Send XRP Price To $0.2
Ripple’s Q2 2024 market report recently highlighted a decline in a crucial on-chain metric that could significantly impact the the XRP price. This decline in network activity and several other factors threaten to send the crypto token to new lows…
US senators urge CFTC to finalize ban on election betting
It comes as decentralized prediction platform Polymarket has gathered more than $500 million in bets on who will likely win the 2024 United States presidential election.
Market Panic: Bitwise CIO Reflects on Bitcoin’s Resilience Amid Market Turmoil
The chief investment officer at asset management firm Bitwise has addressed the current market downturn, drawing parallels with the market crash on March 12, 2020, when the Covid-19 pandemic caused global panic. “People smash the sell button…
Latam Insights Encore: El Salvador’s Proposal Opens the Door for Crypto-Based International Settlements
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El Salvador to settle their trade transactions with…
Bitcoin Price Analysis: What Lies On The Horizon After Crashing Below $50,000
The cryptocurrency market has been rocked by a massive sell-off, with the Bitcoin price plunging 26% from its July highs above $70,000. This dramatic decline comes amid a broader crash in global financial markets, reflecting growing economic…
Trump cautions current administration not to sell Bitcoin
The former president continues to stress that if the United States does not innovate in the digital asset sector, other countries will.
Saudi Arabia Becoming Hub for Web3 Startups Seeking Investment, Report Says
Saudi Arabia’s emergence as a top venture capital investment destination in the Middle East and North Africa offers an opportunity for Web3 startups seeking funding. However, the latest Adaverse report acknowledges that the Saudi Web3 industry…
The Bitcoin bottom is not in — BTC traders set price targets in low $40K range
Crypto traders appear to agree that today’s market rout is far from over.
Swan Bitcoin cancels conference amid staff reduction, mining shutdown
According to Swan Bitcoin CEO Cory Klippsten, “it just doesn’t feel like the right time for a festival” after the firm announced staff cuts in July.
Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss
Cardano has been among the major coins that suffered miserably in the chaotic crypto market today: the token lost 30% in value in the last week. The broader market’s slip and crash are to be blamed for the token’s poor performance. The past 24…
Feasibility of Trillion-Dollar Platinum Coin Discussed by US Government, FOIA Documents Show
The trillion-dollar coin, an idea that surged as a solution to raising the U.S. debt ceiling on more than one occasion, was recently revealed to have been considered by the government several times. Memos obtained via FOIA requests by journalist…
US government transfers 300 ETH — Arkham Intelligence
The 300 Ethereum coins were transferred from a wallet identified as “Noman Seleem Seized Funds” by the onchain analytics firm.
Bitcoin Fear and Greed Index Hits Near Extreme Fear: A Buying Opportunity?
The latest data from Bitcoin Magazine Pro's Fear and Greed Index reveals that Bitcoin sentiment has dropped to a near "extreme fear" level, scoring 26 out of 100. Historically, such a low score suggests a potential buying opportunity for savvy…
Crypto market’s ‘perfect storm’ can lead to further massive capitulation
A rapid decline in the traditional markets has spread to cryptocurrencies, obliterating them with a significant drop in all major assets. What are the possible factors for this perfect storm?
TOKEN2049 Singapore Set to Be World’s Largest Web3 Event With 20,000 Attendees And Over 500 Side Events
PRESS RELEASE. SINGAPORE — 5th August, 2024 — TOKEN2049, the world’s largest crypto event, announced its first batch of headline speakers and prominent title sponsors ahead of its eagerly anticipated return to Singapore. TOKEN2049 will take place…
Bitcoin Bounces to $53K After Brutal Sell-Off Reminiscent of Covid Crash
Bitcoin's 30% decline in a week was for some observers reminiscent of the March 2020 crash, but there's been multiple occasions of similar drawdowns during previous bull markets.
Bitcoin Crash: Analyst Says A Break Above This Level Will Trigger FOMO
A popular Bitcoin analyst has suggested a key breakout point for Bitcoin amidst a bearish market price action. While Bitcoin’s price has been experiencing a downward trend, dynamics and movements over the past few months have established…
Europe’s fourth largest hedge fund put nearly $500M in Bitcoin ETFs — Filing
Other hedge funds are also reporting sizable positions in Bitcoin exchange-traded funds.
Ethereum price recovery from 8-month low could take longer than expected — Analysts
Several factors accelerated ETH’s drop to $2,100, and analysts warn that the recovery could take some time.