Analysts say Bitcoin’s choppy price action is ‘typical of low liquidity markets’

On July 9 Bitcoin and the wider cryptocurrency market saw a moderate relief rally that helped recover some of the losses seen on Thursday but a handful of analysts continue to caution that BTC could still drop to the $24,000 to $29,000 range in the short-term.  Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin was bid higher during the morning trading hours on Friday and managed to climb back above $34,100. BTC/USDT daily chart. Source: TradingView Sentiment among traders received a slight boost after Bitcoin price reversed course…

Opinion: Binance Won’t Be Harmed by U.K. Banks

Key Takeaways Binance is unlikely to be harmed by U.K. bank restrictions. Binance saw normal variation in trading volume this week, while its native token outperformed BTC and ETH. The U.K. makes up little of Binance’s user base, and it is not clear that other countries will impose similar policies. Share this article This week, several U.K.-based banks announced that they would block outgoing transactions to the crypto exchange Binance. Notably, Barclays and Santander both announced blocks on payments to Binance. There is also speculation that Clear Junction denied Binance…

SEC charges individuals connected to former iced tea-turned-mining company

The U.S. Securities and Exchange Commission has filed charges against three people accused of insider trading with the Long Blockchain Company related to changing its name from the Long Island Iced Tea Company. In a Friday announcement, the SEC said Eric Watson, Oliver Barret-Lindsay, and Gannon Giguiere were facing charges in the U.S. District Court for the Southern District of New York for their role in trades connected to rebranding a beverage business to a blockchain firm, which caused the company’s stock price to rise significantly. Giguiere purchased 35,000 shares…

Crypto ads no longer allowed on TikTok

TikTok announced on Friday that certain types of ads would no longer be allowed on their platform. Crypto-based promotional content was included among the now-verboten topics, according to an article from FT Adviser on July 8.  The new guidelines on the social video posting site will specifically inhibit users from posting promotional content about financial products, regardless of the poster’s geographic location. “According to TikTok’s branded content policy, the promotion of all financial services and products is now globally prohibited,” the FT Adviser article detailed. TikTok was a hotbed for Dogecoin…

Capital International purchased $600M in MicroStrategy stock

Financial services company Capital International invested more than half a billion dollars into business intelligence firm MicroStrategy stock. In MicroStrategy’s filings to the U.S. Securities and Exchange Commission, or SEC, for the second quarter of 2021, the firm disclosed Capital International Investors has purchased 953,242 shares of its stock. Following the release of the SEC filing, MicroStrategy’s stock price rose by more than 1.5% to reach $628.44 at the time of publication, making Capital International’s shares worth roughly $600 million. Capital International’s Q1 2021 filing with the SEC reportedly showed…

Altcoin bulls pile into Synthetix (SNX), Axie Infinity (AXS) and EOS

Bitcoin’s (BTC) steady range-bound trading opened the door for select altcoins to rally higher as antsy traders scour the markets in search of profitable opportunities.  Data from Cointelegraph Markets Pro and TradingView shows that the top 3 movers over the past 24 hours are Synthetix (SNX), Axie Infinity (AXS) and EOS. Top performing assets over the last 24-hours. Source: Cointelegraph Markets Pro The growing momentum in both decentralized finance (DeFi) and nonfugbible tokens have helped lead to a boost to prices, while the adoption of a stablecoin on the EOS…

Crypto world largely silent as little-known exchange announces plans to go public

One might assume that a firm with a name like “Bullish” would garner a lot of attention in announcing its intention to go public, especially given that the exchange is backed by blockchain software company Block.one. Until today however, it seems to have gone mostly unnoticed by participants in the crypto space. In a Friday announcement, Bullish said it would be going public on the New York Stock Exchange via a special-purpose acquisition company, or SPAC. The tech firm, which described itself as “focused on developing financial services for the…

Blockchain technology could be particularly beneficial for women, says WTO director general

Ngozi Okonjo-Iweala, the director general of the World Trade Organization and former foreign and finance minister of Nigeria, said blockchain technology could help empower unbanked and underbanked women around the world. Cointelegraph editor-in-chief Kristina Cornèr addressed the G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response today, asking regulators and lawmakers how blockchain technology could help promote financial inclusion for women in the time of COVID-19 and beyond. Okonjo-Iweala, a co-chair on the panel, was the only one out of several members including representatives…

Bloomberg Analyst Provides Blueprint Of Bitcoin Path To $100,000

Bitcoin price predictions have been a hot topic for a while now. Bloomberg Analyst, Mike McGlone believes that the price of BTC hitting $100,000 is tied to the asset following ethereum. This came in the monthly cryptocurrency newsletter sent out by Bloomberg Crypto Outlook. McGlone said this in the July version of the newsletter that was recently published. McGlone commented on the performance of ethereum, putting it as the top market leader so far since the bull market began. Ethereum has consistently outperformed BTC in the market in recent years.…