Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance “FUD” fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States. Amid ongoing… Source link

Bear markets are for building Bitcoin (BTC) companies. At least, that’s what the Legends of Lightning, a nine-week contest for competing Bitcoin businesses, would indicate.  The tournament-come-hackathon ran more than 65 events worldwide as 73 projects battled it out to win 3 BTC ($50,000). The competition crowned Bitcoin startups Lightsats and AgriMint as winners of two separate competition tracks, Global Adoption and Building for Africa. Organized by Bitcoin startup Bolt Fun, the… Source link

Bitcoin and Ethereum have just given up all fresh gains earned following this week’s optimistic CPI report. Bitcoin, the largest cryptocurrency by market capitalization dropped nearly 4% over the past 24 hours and is now hovering at just above $17,000, per CoinGecko. Bears have also regained control of Bitcoin on the weekly basis, with the cryptocurrency down 1.2% over the past seven days. Ethereum, meanwhile, has plummeted nearly 6% in the past day, according to CoinGecko. It’s still roughly… Source link

Things could soon go from bad to worse for bitcoin (BTC) traders looking for bullish cues on technical charts. The cryptocurrency’s 50-week simple moving average (SMA) is falling fast and looks set to cross below the 200-week SMA for the first time on record. According to technical analysis theory, the bearish intersection of the two averages, often referred to as the “death cross,” means the market is about to head into a tailspin. Bitcoin has dropped 75% since reaching a record high of… Source link

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Check out what’s clicking on FoxBusiness.com The Securities and Exchange Commission has repeated its stance to reject Grayscale’s bid to launch a bitcoin ETF. The SEC says such products are prone to fraud and manipulation, court records show, and reported by the Financial Times. Grayscale claimed over the summer that the SEC was applying an unfair double standard by allowing bitcoin futures ETFs, but denying proposals for ETFs that invest in spot bitcoin. The SEC’s first response to… Source link

Ethereum started a fresh decline from the $1,350 resistance against the US Dollar. ETH traded below $1,300 and is showing bearish signs. Ethereum started another decline and traded below the $1,300 support. The price is now trading below $1,290 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $1,290 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down unless the price climbs above the… Source link

Hedge funds have been upping their short positions against shares of cryptocurrency miners, betting that more will go to the financial brink after the collapse of the FTX exchange. With the bitcoin price down by nearly two-thirds this year and the cost of the power that miners require to fuel their energy-intensive computers having risen sharply, hedge funds are wagering that some companies’ business models are still far from viable. Bearish investors have been betting that the… Source link

Latest news on ETFs Visit our ETF Hub to find out more and to explore our in-depth data and comparison tools The Securities and Exchange Commission doubled down last week on its decision to reject Grayscale’s bid to launch a bitcoin ETF, repeating its stance that such products are prone to fraud and manipulation, court records show. Grayscale had claimed over the summer that the SEC was applying an unfair double standard by allowing bitcoin futures ETFs on the market and repeatedly… Source link

Ethereum price shows a rejection at the $1,350 hurdle after setting up three equal highs. ETH could retrace to the $1,195 support level to replenish momentum before giving the uptrend another go. A daily candlestick close below $1,150 will invalidate the bullish thesis. Ethereum price shows a lack of momentum after the recent volatile events. The run-up pushed ETH to produce another swing high. Rejection at this level has triggered a sell-off that could continue… Source link