The Art of Making CryptoCurrency
Bitcoin is trading at $96,688 with a market capitalization of $1.91 trillion and a 24-hour trading volume of $44.88 billion, moving within an intraday range of $94,805 to $99,262 as technical indicators suggest consolidation with a bearish bias. Bitcoin The daily chart reflects a continued downtrend, with bitcoin forming lower highs and lows after peaking […] Source link
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Top Stories This Week Chair Gensler says SEC reaction to Ripple decision is mixed, still under consideration U.S. Securities and Exchange Commission Chair Gary Gensler has commented publicly about the recent ruling on the agency’s suit against Ripple, saying the SEC is “still looking at it and assessing that opinion.” Gensler declined to comment further on the case, but said the commission is pleased with the court’s decision stating that XRP was a security when sold to institutional investors, but disappointed with the non-security ruling for retail investors and other…
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The bears lost an opportunity when they failed to sustain Bitcoin (BTC) below the $25,000 level this week. That may have attracted buying from the bulls who are attempting to start a recovery in Bitcoin and select altcoins. Additionally, BlackRock’s application to launch a Bitcoin spot price exchange-traded fund and the sustained strength in the United States equities markets may have helped improve crypto sentiment. Bitcoin is on track to finish the week with a minor gain of 2% and institutional buying in the Grayscale Bitcoin Trust reduced its discount…
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A bearish market structure has been pressuring cryptocurrencies’ prices for the past six weeks, driving the total market capitalization to its lowest level in two months at $1.13 trillion. According to two derivative metrics, crypto bulls will have a hard time to break the downtrend, even though analyzing a shorter timeframe provides a neutral view with Bitcoin (BTC), Ether (ETH) and BNB, on average, gaining 0.3% between May 12 and May 19. Total crypto market cap in USD, 12-hour. Source: TradingView Notice that the descending wedge formation initiated in mid-April…
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