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ETH moved into the $1,200 region to start the weekend, as prices rose for a third consecutive session. Bullish sentiment has been missing from crypto markets in recent months, however the timely return also saw BTC near its highest point this week. Bitcoin Bitcoin entered the weekend trading in the green, as bulls extended their recent run for a third consecutive session. Following a low of $20,794.19 during Friday’s session, BTC/USD rose to an intraday peak of $21,520.91 on… Source link

One Ethereum (ETH) competitor is taking a massive hit after hackers drained approximately $100 million worth of crypto from its cross-chain bridge. The Harmony (ONE) team says the breach occurred on the morning of June 24th on the Horizon bridge, which enables users to move crypto assets between Ethereum, Binance Smart Chain and Harmony. “The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approximately $100 million. We have begun… Source link

At its peak, Ethereum (ETH 1.84%) had a market cap of just under $550 billion. Today, Bitcoin (CRYPTO: BTC) and Ethereum combined have a market cap of less than $550 billion. There’s no sugarcoating the fact that the crypto sell-off has been swift and brutal. That Ethereum is down nearly 80% from its high is a compelling reason to consider buying it now. However, an even better investment thesis is the multidecade growth that Ethereum could achieve if it transitions from… Source link

Miners on the Ethereum network witnessed a decline in profitability as the price of Ethereum slumped in the recent crypto bloodbath.  Electricity consumption of some of the largest cryptocurrency networks dropped by as much as 50% as miners were forced to shut shop.  Ethereum price witnessed a trend reversal and analysts predict a continuation of ETH uptrend.  Ethereum price rally continues despite the drop in mining profitability. With the decline in Ethereum… Source link

It has been hard for ETH traders to avoid panicking in the last few months as ETH continued to sell with no end in sight. The bears have been easing off their assault every once in a while, paving the way for minor relief rallies. However, even those have been short-lived and the bears continue to show their strength. A similar scenario is taking place right now following ETH’s latest crash. The market has experienced a few days of relative calmness and some upside…. Source link

A Chinese state-run newspaper has published an article warning about bitcoin’s price falling to zero amid the crypto market sell-off. Meanwhile, financial regulators in Shenzhen have issued a new warning about cryptocurrency. State-Run Newspaper Warns About Bitcoin Becoming Worthless China’s state-run newspaper Economic Daily published an article warning about bitcoin Wednesday, according to SCMP. The nationwide newspaper is directly under the control of the Central Committee of… Source link

“This weekend could be another testing period for the cryptocurrency, despite the resilience shown this week in holding back above such a major level,” Oanda senior market analyst Craig Erlam said. “The support still looks shaky below and another break could see confidence in the space really put to the test.” Source link

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Ethereum’s native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH’s price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a “clean fakeout.” For… Source link

Bitcoin (BTC) headed toward the upper end of its trading range on June 24 as optimism crept back into traders’ forecasts. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price “ready for $23,000” Data from Cointelegraph Markets Pro and TradingView tracked a broadly stable BTC/USD as it hit local highs of $21,425 on Bitstamp. The pair had shifted higher since wicking below the $20,000 on June 22, with United States equities similarly cool going into the weekend. “Bitcoin… Source link