Bitcoin Is Holding a Support That Stretches Back to 2018’s Lows

Bitcoin has seen weak price action since reaching the highs of $12,500 in late August. At the start of the month, the leading cryptocurrency slipped from the year-to-date highs to a low of $9,800 as it corrected in tandem with legacy markets. Fortunately for bulls, analysis by a number of traders has indicated that BTC is currently trading above pivotal support levels. This adds to the bullish on-chain and fundamental case laid out by a number of researchers in the space. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase…

Why reduced Bitcoin futures volume may signal the start of a new bull trend

Bitcoin (BTC) futures volume and open interest are declining rapidly. Data shows that since the September peak, BTC futures volume has dropped by 60% from over $25 billion to around $10 billion. Bitcoin futures volume by exchange (September). Source: Digital Assets Data While the decline in trading activity could ostensibly seem like a negative metric, it could also indicate that a bull cycle is emerging.  Why declining futures market activity could boost Bitcoin price The Bitcoin futures market represents most of the overleveraged trades in the Bitcoin market and popular…

Uniswap’s UNI Could Rally to $4.75 Despite Ongoing Selloff; Here’s Why

Unsiwap’s governance token UNI has been attempting to form the lower-$4.00 region as a strong base of support throughout the past few days and weeks, with buyers and sellers largely reaching an impasse as it hovers just above this level. The cryptocurrency has taken a hit due to the recent Bitcoin selloff, which came about because of news regarding the CFTC’s decision to place an assortment of charges on BitMEX. Despite BitMEX not serving U.S. customers and being located internationally, the news still spooked investors, and sent shockwaves throughout the…

Atari Plans to Run Its Token Sale Next Month

Key Takeaways Atari is planning to run an IEO for its cryptocurrency token in November on Bitcoin.com’s cryptocurrency exchange. Following the sale, the token will be listed on multiple exchanges. It is not clear,however, whether there is general interest in Atari’s cryptocurrency or gambling site. Share this article According to a press release published on Bitcoin.com, Atari is planning to run its long-planned token sale this November. Atari IEO Approaches Since 2018, Atari has been planning to release a cryptocurrency called Atari Token (ATRI). The token has been built on…

Yearn.finance (YFI) Posts Massive Short Squeeze Following Surge in Open Interest

Yearn.finance (YFI) has been facing heightened volatility as of late, with bears attempting to capitalize on recent drama surrounding one of the projects that Yearn’s founder is working on. However, the cryptocurrency’s descent now appears to be slowing slightly, with bulls posting an ardent defense of $22,000 – a price that was visited during a sharp decline yesterday evening. It is important to note that the drama surrounding Eminence – an NFT card game project being created by Yearn.finance founder Andre Cronje – has since faded, which could help alleviate…

BitMex denies CFTC and DoJ allegations, says trading will continue

In a blog post published Thursday afternoon, Bitmex lashed out at charges that the Commodity Futures Trading Commission and Department of Justice filed against the exchange and its management earlier today. Bitmex’s statement claimed that “From our early days as a start-up, we have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance.” What exactly “applicable U.S. laws” are will likely be central to the case. Bitmex has long maintained that it does not serve customers in the U.S., though others before the…

Bitcoin Sees 3rd Quarterly Close Over $10K, 3 Reasons This Time will Hold

Bitcoin just closed the 3rd quarter of the year with its best-ever performance, marking the third of only three quarterly finishes over $10,000. All good things come in threes, so here are three reasons why this the third time is the charm, and the cryptocurrency will hold strong above the clearly critical level. Bitcoin Closes 3rd Quarter Above Resistance, Can It Hold Above $10K Support? The first-ever cryptocurrency had a tremendous second and third quarter of 2020, after plunging to $3,800 as Q1 came to a close. At the start…

It looks like the SEC isn’t done with trading app Abra just yet

Back in July, the Securities and Exchange Commission alongside the Commodity Futures Trading Commission fined investment app Abra for providing trading on synthetic assets.  At the time, that looked like the end of the matter. However, in response to Cointelegraph’s Freedom of Information Act (FOIA) request for details in the Abra case, the SEC cited FOIA exemption 5 U.S.C. 552(b)(7)(A) — an exemption that only applies to ongoing investigations. The exemption applies to situations where releasing information could “reasonably be expected to interfere with enforcement proceedings.” The SEC’s response does…

Shenzhen’s stock exchange is preparing to launch Blockchain-powered trades

Shenzhen’s stock exchange, one of the biggest exchanges in the Asia-Pacific region, announced that they have co-launched a blockchain solution for trading with unlisted private-sector companies. This new platform was created as part of the Beijing Regional Trading Center. The report also indicated that the platform will be co-piloted with the Beijing Fourth Board Market, or BFBM — the city’s regional equity market. Both groups expect to “reduce the cost of information asymmetry, standardize corporate equity management, and better play the function of market equity financing” by integrating blockchain technology. Ge…

3 reasons why the CFTC action against BitMEX will not crash Bitcoin price

Within the last few hours Bitcoin (BTC) price plummeted as the U.S. Commodities and Futures Trading Commission (CFTC) charged BitMEX with facilitating money laundering and operating an illegal cryptocurrency derivatives exchange. An even larger shock occurred as authorities announced the arrest of Samuel Reed, one of the co-founders of BitMEX. BitMEX has been the most dominant Bitcoin futures exchange for a long time, at least until March 2020 when the massive $1 billion Black Thursday liquidation pulled the price below $3,750. In recent months, new competitors like Binance Futures and ByBit…