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

The pencilled-in preliminary date for The Merge, revealed by the Ethereum developer Superphiz, is less than two months away and the announcement seemingly caused a number of developments to happen. First off, the network’s native token ether saw a significant spike in value and secondly, Ethereum’s hashrate has dropped 18.21% since June 30. Data also shows that the number of ethereum stored on exchanges has seen a massive drop, as roughly 25.13 million ether was once held on… Source link

Ethereum’s native token Ether (ETH) has rebounded 40% against Bitcoin (BTC) after bottoming out locally at 0.049 on June 13. Now, the ETH/BTC pair is at two-month highs and can extend its rally in the coming weeks, according to a classic technical pattern. ETH paints cup and handle pattern Specifically, ETH/BTC has been forming a “cup and handle” on its lower-timeframe charts since July 18.  A cup and handle setup typically appears when the price falls and then rebounds in what appears to be a… Source link

This week in coins. Illustration by Mitchell Preffer for Decrypt Companies are doing whatever possible to stay solvent during crypto winter—freezing redemptions, laying off employees, cutting spending, filing for bankruptcy, negotiating buyouts—but those conditions couldn’t prevent markets from warming over the last week. Bitcoin grew 8% over the last seven days to $22,337, as of this writing, but the world’s favorite cryptocurrency was vastly outperformed by Ethereum, which blew up… Source link

Speculation is that some investors have turned to bitcoin in order to protect their holdings from the impacts of hyperinflation. But what exactly does that mean? People are drawn to everything they can run to in order to protect themselves from inflation, which has reached unprecedented highs. The bitcoin assets are assumed to be inflation-resistant, despite evidence to the contrary. However, things quickly become unclear if you discover that each cryptocurrency is unique, and some are… Source link