Ethereum registered an appealing 12% pump during the weekend. From a local low of $1488, ETH rallied up to $1664. However, as soon as the Asian markets started trading on Monday, the alt registered a streak of 6 red candles on the hourly, translating into a 10% dip. After visiting lows of $1498.95, Ethereum was back to consolidating above $1500 at press time. Over the last couple of hours, ETH has been trying to break past $1530 but has been rejected several times. Source: TradingView

A new Bitcoin whale emerged in the crypto market by amassing a large fortune of $3 billion BTCs. The unidentified whale first came to light on July 15, 2022, and mostly remained on the sidelines for three days. However, the mysterious wallet picked up its first lot by purchasing 15,499 Bitcoins worth $345.9 million on July 19th. The whale ramped up the purchases by adding another bag of 45,499 Bitcoin worth $1.06 billion to its wallet on July 20th. On July 21, the whale received 71,879 BTC… Source link

Bitcoin traded in the green last week, sending signals of a market recovery. Even JP Morgan, which previously predicted that the bear market was here to stay, reported that the downturn might end. However, Bitcoin and the cryptocurrency market generally have their way of defying sentiments by moving in the opposite direction when least expected. BTC is being rejected at $23,000, sliding back to $21,000, and is yet to break out in the indices. Crypto analyst Kevin Svenson revealed that the… Source link

Bitcoin (BTC) enters a new week with a question mark over the fate of the market ahead of another key United States monetary policy decision. After sealing a successful weekly close — its highest since mid-June — BTC/USD is much more cautious as the Federal Reserve prepares to hike benchmark interest rates to fight inflation. While many hoped that the pair could exit its recent trading range and continue higher, the weight of the Fed is clearly visible as the week gets underway, adding… Source link

Bitcoin started a fresh decline from the $23,000 resistance against the US Dollar. BTC is declining and remains at a risk of a sharp decline below $21,800. Bitcoin started a downside correction and traded below the $22,200 level. The price is now trading below the $22,500 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $22,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might decline heavily if… Source link

A closely followed crypto strategist is issuing a warning to investors saying that a handful of altcoins appear poised for a corrective move after rallying over the last two weeks. Pseudonymous analyst Cheds tells his 275,200 Twitter followers that he’s keeping an eye on memecoin Shiba Inu (SHIB), peer-to-peer payments protocol Litecoin (LTC), blockchain-based gaming ecosystem The Sandbox (SAND), decentralized exchange Uniswap (UNI) and blockchain scaling soluton Polygon (MATIC). … Source link

Three months ago, there were 441,546 wrapped or synthetic bitcoins on the Ethereum and Binance Smart Chain worth $17.45 billion using exchange rates on April 24, 2022. Since then, that number has dropped by 53,582 synthetic bitcoins and today the number of wrapped or bonded bitcoins is approximately 387,964 worth $8.81 billion in value. Number of Wrapped or Synthetic Bitcoins Held on Ethereum Declines In the last few years the use of wrapped, bonded or synthetic bitcoins has increased… Source link

Ethereum researcher, Vivek Raman, is convinced that Ethereum’s (ETH) upcoming transition to a proof-of-stake system will enable it to take over Bitcoin’s (BTC) position as the most prominent cryptocurrency. “Ethereum does have, just from an economic perspective and because of the effect of the supply shock, a chance to flip Bitcoin,” said Raman in an exclusive interview with Cointelegraph.  [embedded content] The Merge, a long-awaited upgrade that will complete Ethereum’s transition from a… Source link

If you could hold only a single crypto in your portfolio, what would it be? Most people would probably answer Bitcoin (BTC 0.20%), and for good reason. Bitcoin is not only the best-known and most popular crypto but also often the benchmark to which all other cryptos are compared. In terms of market capitalization, Bitcoin has always loomed far above its rivals. So, is it possible that Ethereum (ETH 3.04%) might actually be better than Bitcoin as a long-term investment? For… Source link

Finland has sold 1,889 bitcoins seized in narcotic cases for 46.5 million euros ($47.4 million). The country’s finance minister previously said that the bitcoin sale proceeds will go to Ukraine for humanitarian aid and reconstruction as its war with Russia continues. Finland Sells Bitcoin Seized From Narcotic Offenses Finnish Customs (aka Tulli), the customs service of the government of Finland, announced Thursday that it has sold “legally forfeited” bitcoins. “During the… Source link