While the crypto and stock markets both remain bearish, Bitcoin’s correlation with stocks is close to its lowest point this year. The 40-day correlation between the largest cryptocurrency and the Nasdaq 100 index is now below 0.50, according to Bloomberg data.  Bitcoin is trading for $20,712 at the time of writing, a 2.5% increase in the past 24 hours according to CoinMarketCap. In contrast, U.S. stocks were hit hard on Thursday as investors worry about the Federal Reserve continuing to… Source link

Ethereum successfully completed one of the last tests required prior to the Merge—the blockchain’s much-anticipated and oft-delayed transition to proof of stake.  The blockchain’s ninth shadow fork went live 15 hours ahead of schedule this morning. Shadow forks, like today’s, practice making one or two particular changes that will take place during the Merge. Shadow forks are different from full testnet hard forks, like last week’s Sepolia testnet, which move the entire Ethereum

Ethereum [ETH] insisted on its sideways momentum while its market consolidated over the last month. Post the bearish flag breakdown, buyers have not been able to break the bonds of the daily 20 EMA (red) resistance. Further, the trendline resistance (white, dashed) has kept the alt’s peaks under bearish control for over three months. Should the current candlestick see a robust close below the $1,045 support, ETH could eye an extended downside in the coming sessions. Any… Source link

“This is the right decision for our community and company,” Celsius co-founder and CEO Alex Mashinsky said in a statement on Wednesday. “We have a strong and experienced team in place to lead Celsius through this process. I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.” Source link

That said, Mt. Gox wasn’t able to get back the stolen bitcoins, so the trustee is not actually paying out 850,000 BTC to creditors. Mt. Gox only holds around 141,686 BTC, 142,846 bitcoin cash (BCH) and 69,776,002,441 yen (~$3.2 billion, all told). So instead of a one-time 850,000 BTC liquidation, a worst-case scenario would look like this: 100% of creditors opt for the trustee to liquidate, and the trustee opts to do that all in one fell swoop and sell 141,000 BTC. That represents 8.8% of… Source link

The first time Jackie Sawicky learned that a Bitcoin mining operation was coming to Corsicana, a rural Texas city 60 miles south of Dallas, was on April 27, when she happened upon a Facebook video of a meeting at the local public library. The featured speaker was Chad Everett Harris, the upbeat executive vice president of Riot Blockchain, a Bitcoin mining company based in Castle Rock, Colorado. Bald and comfortably plump, Harris wore a suit jacket and open-collared shirt… Source link

Most Bitcoin (BTC) traders would rather see a sharp price correction and a subsequent recovery than agonize for multiple months below $24,000. However, BTC has been doing the opposite since June 14 and its most recent struggle is the asset’s failure to break above the $22,000 resistance. For this reason, most traders are holding back their bullish expectations until BTC posts a daily close above $24,000. Events outside of the crypto market are the primary factor impacting investors’… Source link

Parithosh, DevOps engineer at the Ethereum Foundation, told CoinDesk, “There seems to have been a minor spike in hashrate that sped up things a bit. The TTD estimation tool I use is also a local tool, it caches a lot of blocks and tries to average things out, it seems to have a lot of stale state since I haven’t cleared the old state.” Source link

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Yesterday, with the announcement of the inflation rate in the United States, the market experienced a sharp decline. Ethereum briefly dropped by $103, but the bulls held the price above $1,000. Technical Analysis By Grizzly The Daily Chart ETH trades above the descending line (in yellow) on the daily timeframe. The RSI 14D index has not been able to break above the dynamic resistance (in blue), which was rejected by the baseline showing the weakness of bulls in the market…. Source link