Ethereum has been closing red week after red week for the past 11 weeks. It is the longest red streak that has been recorded in the history of the cryptocurrency, hence, it carried significant implications for the digital asset. Through the decline, it has been one of the worst-hit coins, performing poorly compared to the other cryptocurrencies at this time. However, the digital asset has now closed its first weekly green candle in three months and things are looking up. Better Days Ahead

The ongoing cryptocurrency market has continued to witness major liquidations. Following a $24 billion decline on 26 June, the total crypto market cap slipped by $9.17 billion on 27 June. At press time, the total liquidations over the last day stood at $137 million. It was down from $145 million as compared to 27 June. Catching the first train out  This certainly seems to be the case with cryptocurrency holders as highlighted in the latest Digital Asset Fund Flows Weekly Source link

“We believe that the most prudent approach is to sit on the sidelines as we wait for the volatility and illiquidity contagion to come to its logical conclusion,” said Gao in the statement. “On the balance of probabilities, we see weaker price action opening the way to lower levels to come as reports of the number of chains imposing ‘temporary’ suspension on withdrawals increases,” he added. Source link

The crypto market is currently going through a period of heightened volatility as global economic conditions continue to worsen amid a backdrop of rising inflation and interest rates.  As the headwinds impacting global financial markets beat down all traces of bullish sentiment, many crypto investors are predicting that Bitcoin (BTC) price could drop to as low as $10,000 before a market bottom is found. BTC/USDT 1-day chart. Source: TradingView While many traders scoffed at the idea of BTC… Source link

Cryptocurrency storage firm Anchorage Digital today announced the launch of an Ethereum staking service for institutions, which will be able to earn rewards linked to the second-biggest digital asset by market cap. Institutions can now stake #ETH with @Anchorage. Learn what institutions need to know about the ETH upgrades, why they should stake ETH & how they can collect rewards through Anchorage. Read more here ⬇️: https://t.co/0TkwoGjXHV — Anchorage Digital (@Anchorage) June 28,… Source link

The bulls have dominated the market for the past few days. A 40% growth in 10 days can surely be interpreted positively, but it’s important to examine all scenarios. Technical Analysis By Grizzly The Daily Chart The price is currently stuck below the resistance zone on the daily time frame, as shown in the chart. This zone ranges from $1300 to $1500 (in red) and was expected to provide solid support during the sharp collapse earlier in June – which it obviously failed to… Source link

Monday morning, the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, said on CNBC’s Squawk Box that the only token he would lump in with commodities was bitcoin. Why it matters: Gensler pointedly declined to name any cryptocurrency other than the original one, notable because the market has been operating under the assumption that there is a sort of wink-and-nod understanding that ether is also not a security. Driving the news: “Many of these financial assets,… Source link

Bitcoin (BTC) played wait-and-see with traders on June 28 as Wall Street opened to flat performance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bollinger eyes “logical place” for Bitcoin bottom Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $21,000 on Bitstamp, refusing to commit to a firm trend. The pair nonetheless avoided fresh signs of weakness, leading Cointelegraph contributor Michaël van de Poppe to believe that an attack on important levels… Source link

Rapidly rising electricity prices should be bad news for cryptocurrency miners, right? Boutique investment house Kuros Associates believes so, having shorted US-listed Microstrategy and Riot Blockchain in spite of being a short term bitcoin bull.  Miners “have a big problem [with] the rising cost of energy, and that’s not going away any time soon,” said Tancredi Cordero, chief executive at London-based Kuros. “The smart trade would be a put trade expiring in Q3. [Electricity]… Source link

Text size The prices of Bitcoin and other cryptocurrencies have collapsed this year. Dusan Zidar/Dreamstime … Source link