The ProShares Short Bitcoin ETF had been highly anticipated due to the success of short bitcoin ETFs in the past. A reasonable amount of inflows was expected to flow into the ETF but with less than one week in the game, the ETF had surpassed expectations for it. This growth coincided with a decline of […]
The U.S. Securities and Exchange Commission (SEC) will announce its decision on the Bitcoin-linked spot Exchanged Traded Funds (ETFs) proposals filed by investment giants Bitwise and Grayscale. The Commission is expected to make this announcement on the former by July 1st and on the latter by July 6th. Related Reading | Here Are Bitcoin And Ethereum’s […]
In a press release on Tuesday, leading crypto exchange KuCoin announced the full launch of its Web 3 wallet. KuCoin revealed that it was now fully ready after an extended beta testing period of the wallet. According to the exchange, about 3 million users took part in the beta tests, whose feedback led to significant […]
Bitcoin is trending downside on lower timeframes and seems to hint at future losses. The number one crypto by market cap records a 3% loss in the past week, but there is a potential sign of hope for the bulls. Related Reading | Why Ethereum Could Trade At $500 If These Conditions Are Met At the time of writing, Bitcoin (BTC) trades at $20,000 with a 1% loss in the last 24 hours. As a pseudonym trader pointed out, Bitcoin whales are currently buying into BTC’s price action and could be hinting at a future relief bounce. The trader used data provided by Material Indicators to show what the different investors’ classes are doing while BTC records losses. As seen below, investors with bid orders of about $100,000 (purple in the chart below) have increased their buying pressure as almost every other and smaller investor class sells into this price action. This divergence could hint at a bounce as these BTC whales often anticipate or create price trends. The pseudonym trader explained: Whales (purple) are market buying while #bitcoin price is flat. Historically, purple is the most important class for future price action. Clear divergence, hopefully it will play out this time. Bitcoin whales (brown in the chart) also saw a small uptick in buying orders as BTC returns to the area of around $20,000. This investor class has been mostly dormant in the current market environment, but their recent involvement highlights the importance of BTC’s current levels. In that sense, Material Indicators records massive bid orders for BTC’s price around this area from $19,900 to $20,000. There are over $20 million in bid order on these levels alone with an additional $6 million at around $19,500, and over $10 from $19,000 to $19,000. In other words, there seems to be enough liquidity for Bitcoin to hold at its current levels for the time being. Can Bitcoin The Bitcoin Bulls Score A Green Monthly Candle At higher timeframes, additional data provided by Material Indicators records an important liquidity zone between $17,000 and $20,000. Large market participants could attempt to push down the price to fill these orders which could hinder the bulls’ attempts to save the monthly candle. Analysts from Material Indicators wrote: Bulls are defending the 2017 Top, but with one day to go it’s going to be almost impossible to print a green Monthly candle. Still a chance for green on the Weekly. Expecting volatility. One way or another, Bitcoin is going to breakout or breakdown very soon. Related Reading | Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic The analysts expect a potential relief in the coming days after a potential retest of the yearly lows. Any bullish thesis would be invalidated if BTC loses $17,500. Trend Precognition is flashing a pretty strong Long signal on the #BTC Weekly chart. Signal won't print until the W candle closes, but indicates that we could see a run at the 200 WMA this week. Happy to test the lows first. For me, sub $17.5k invalidates. #NFA pic.twitter.com/hvs1as44qG — Material Indicators (@MI_Algos) June 28, 2022
So, uh, not sure if you’ve looked out the window at all today… but Three Arrows Capital, popularly known as 3AC, is in dire straits.
The current streak of extreme fear is already the longest ever in crypto history, and it’s continuing on still. Here’s a recap of the major events responsible for this bottom sentiment. Crypto Fear And Greed Index Continues To Point At “Extreme Fear” The “fear and greed index” is an indicator that tells us about the general market sentiment among crypto investors. The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values below the fifty mark imply a fearful market, while those above the threshold mean investors are greedy right now. End values of above 75 and below 25 indicate extreme sentiments of “extreme greed” and “extreme fear,” respectively. Now, here is a chart from the latest weekly report from Arcane Research, that shows the trend in the crypto fear and greed index over the past year: Looks like the value of the indicator has been very low in recent weeks | Source: Arcane Research’s The Weekly Update – Week 25, 2022 As you can see in the above graph, the current value of the crypto fear and greed index is 10, which suggests the market is extremely fearful at the moment. This run of extreme fear has been going on since more than two months now, and it’s the longest ever such streak in the history of the metric. Related Reading | What Is Bitcoin CFD and How Can It Make You a Profit Even before this latest run of extreme fear, the market sentiment wasn’t particularly well during the rest of 2022. However, it wasn’t still quite as rock bottom as the current streak. So, what’s behind this historically low sentiment? There are a number of market conditions that have lead to it and that are continuing to keep it so. The first event of note is the UST collapse in May. A large stablecoin like Tether USD losing its peg put fear and uncertainty into many investors in the market. Another is the looming macro uncertainties over the market like the possibility of FED hiking rates and the various governments around the world tightening regulations. Related Reading | Bitcoin “Reserve Risk” Metric Approaches All-Time Lows These above factors snowballed into a bottom sentiment and lead to larger consequences over the entire crypto market in the form of the crash. A byproduct of the latest crash was the collapse of Three Arrows Capital (3AC), a cryptocurrency hedge fund. Another was the lender company Celsius halting withdrawals and potentially heading towards bankruptcy. Such negative news is keeping the fear and greed index from recovering from these historic lows. Like a vicious cycle, bad news is leading to more bad news and further fueling the extreme fear sentiment. BTC Price At the time of writing, Bitcoin’s price floats around $20k, down 1% in the past week. BTC plunges down | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research
The popular crypto analyst who accurately called the current market collapse says that the altcoin market still has much further to drop than traders realize. The pseudonymous trader known as Capo tells his 417,000 followers that even though most altcoins are way below their all-time highs, a sizeable haircut is around the corner. “Expecting 45-50% […]
Tether’s chief technology officer says certain hedge funds recently attempted to spread panic and profit off shorting Tether (USDT). Tether CTO Paolo Ardoino says hedge funds helped spread rumors that Tether isn’t 100% backed and has 85% exposure to Chinese commercial paper (CP) holdings. CP holdings are a type of unsecured and usually discounted short-term […]
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Amid the cryptocurrency market decline, it’s clear that Bitcoin can’t be stopped despite a price drawdown.
Anchorage Digital will allow Ethereum staking for institutions and they will be able to earn rewards linked to the second-biggest digital asset by market cap so let’s read more in our latest Ethereum news today. Crypto storage company Anchorage Digital will allow Ethereum staking and earning rewards related to ETH as the co-founder and president […]
Are you looking to start your trading journey, or enhance your trading strategy? If so, you will need to learn how to spot crypto chart…
The post Crypto Chart Patterns for Trading appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
REV3AL, a new and innovative cryptocurrency project, comes at a critical time in the crypto sector when scams and fraud are on the rise. As a solution to the hindering growth of the digital media market, REV3AL offers digital copyright protection and anti-counterfeiting solutions for artists, creators, and intellectual property owners. With its multi-layer authentication and anti-counterfeiting protocol, REV3AL hopes to play a major role in protecting digital media, on platforms such as NFT market places, gaming platforms and the metaverse. Venture capital firms and private investors have invested in REV3AL, including Alphabit Fund, NFT Technologies, Uplift, IBC, Moonstarter, and Launchpool. NEAR Protocol & Hedera Hashgraph are just two of the industry’s leading blockchain & distributed ledger technology partners REV3AL is partnering with along with major metaverse and infrastructure partners such as MetaVRse, TCG World, Utherverse, Forward Protocol, and over 50 others. The REV3AL token will be listed on the KuCoin cryptocurrency exchange, one of a select few projects to launch directly on this top-tier exchange. Among the top three crypto exchanges in the world, KuCoin boasts over 10 million registered users as well as 24/7 world-class services in investors’ preferred languages and channels. The token will go live on the Kucoin platform on June 30th. The REV3AL technology ecosystem REV3AL uses multiple dynamic authentication levels on and off-chain to deter fraudsters and prevent digital assets from being counterfeited or abused. REV3AL`s technology strategy is to develop an agnostic ecosystem and product offering for the blockchain and metaverse space and its mission is threefold. To begin with, it aims to authenticate digital media assets both on and off the blockchain. Verifying assets in the digital world, preventing counterfeit attacks, and safeguarding intellectual property. By providing simple and intuitive methods of verification, it enables creators, collectors, and marketplaces to verify the authenticity and originality of their collections, and preserves the value of the original work. Secondly, REV3AL is working on developing a secure NFT marketplace to provide NFTS and digital assets in a curated experience that includes both established and new creators, brands, and partners. Finally, through a unique and easy-to-use API, REV3AL will integrate and provide authentication to 3rd party NFT or digital media marketplaces, gaming platforms, and the metaverse. REV3AL’s security protocols and best practices will be applied to Web3 and the metaverse in a standardized and interoperable manner. REV3AL tokenomics Through a sustainable model of digital asset protection, the project utilizes the token component as a foundation for establishing and verifying the REV3AL security layers. As a result, it has methodically arranged its token metrics to achieve this objective using a deflationary model. In addition, a portion of the token allocation will support charitable projects that support the environment, youth and our community. REV3AL maintains a one billion token hard cap and the ticker for the token will be $REV3L. The token will be listed on KuCoin on June 30th. About REV3AL REV3AL has received widespread support, with a strong organic following on Twitter and Telegram and the project aims to establish itself in the ecosystem as an industry standard for digital asset media authentication tools by quality and value. The team and advisory network comprise of a broad and deep range of experts in various disciplines, such as system architecture, visual arts, cybersecurity, cryptocurrencies, software engineering, anti-counterfeiting, and graphics security. Mo Kumarsi, the CEO of REV3AL, has been integral to some of crypto’s most successful projects, such as CoinPayments and Power Ledger. Adam Russell, the project’s CRO, has over 20 years of experience in cyber safety, blockchain and XR, CPO Eric Prouty specializes in producing and launching mobile and Internet-based technologies, including those in the Web3 space, CMO Georgina Woolams-Edwards is the founder of an international marketing and PR agency with offices in London and Dubai, and CTO Bernard O’Flynn has spent most of his 26 year career building and managing product and engineering teams in the tech/fintech space. Members of the advisory board include notable figures in the blockchain industry, such as Karnika E. Yashwant, the founder of Forward Protocol and Key Difference Media, Mario Nawfal who is the CEO of NFT Technologies. As well as Alan Smithson, known as the godfather of XR, founder of MetaVRse, and Liam Robertson, founder of Alphabit Fund, a premier blockchain fund. Bottom line REV3AL users and token holders can participate in building an ecosystem of complementary technologies and partners that will play a key role in the security, and success of the web3 economy. Addressing a clear market need, giving users confidence, and supporting the rights of creators to control and profit from their original work. REV3AL community members will also have access to exclusive content on the secure marketplace as well as in future metaverse environments. They will have the option of participating in staking and purchasing tokens that can be traded on KuCoin.
In today’s market, plenty of trading platforms, including mainstream exchanges like Binance, Huobi, Bybit, and KuCoin, have introduced futures contracts. Huobi has extensive experience in futures and provides a wide range of linear/inverse contract markets. However, its market share has fallen sharply, and the platform’s user traffic is also going downhill. Bybit and Binance are both professional futures trading platforms that demand a high threshold. Bad news is that Bybit was chased out of the UK by FCA, while Binance has suffered several security breaches. Futures beginners should avoid professional-focused trading platforms with a high threshold. Instead, they should go with a platform like CoinEx that features a low threshold and simple operations. Today, we will look into the advantages of CoinEx Futures in 5 aspects. I. CoinEx Futures boasts simple, easy–to–use, convenient operations First of all, compared with professional-centered futures trading platforms like Binance and Bybit, CoinEx Futures offers simple, easy-to-use products. It aims to allow all crypto investors to trade futures with ease, moving futures trading out of the realm that’s exclusive to professional traders. With easy operations, convenient order placement, and clear position information, CoinEx users can trade futures through an extremely smooth process. Secondly, before starting to trade futures on CoinEx, users can quickly master the key takeaways through simulated operation tutorials provided by the platform, which helps them avoid the common booby traps in futures trading. In terms of functionality, CoinEx Futures provides all-inclusive, easy-to-use functions like TP & SL, Close All, and Futures Calculator, which helps users manage their positions with greater ease. II. CoinEx boasts a zero-accident record against its peers’ frequent security scandals In 2020, KuCoin suffered a serious hacking incident that incurred an asset loss of about $275 million. Apart from KuCoin, Binance, a top crypto exchange, has also been hacked several times. In 2019, over 7,000 bitcoins were stolen from the exchange. The frequent security breaches Binance has suffered jeopardize the bond of trust between this leading crypto exchange and its users in the long run. CoinEx, on the other hand, has suffered no security scandals in the 5 years since its inception, which indicates the strength of its security system. On CoinEx, all crypto assets are 100% reserved. The exchange does not misuse users’ assets for any reason whatsoever. Moreover, all withdrawals are 100% processed in time. CoinEx has also adopted multiple security strategies and established a well-rounded security system to fully protect its system and users’ assets. For example, the exchange regularly conducts penetration tests to promptly identify security loopholes and monitors any abnormal system changes in real-time. III. CoinEx boasts an all-encompassing product family that spans all crypto categories In addition to futures, CoinEx also provides many other products and services, including margin trading, AMM, mining, financial service, and CoinEx Dock. The exchange features trading sections for BTC, BCH, ETH, and stablecoins, over 500 first-rate, innovative cryptos, and nearly 1,000 trading markets. As an exchange under ViaBTC Group, CoinEx is backed by an all-inclusive ecosystem that brings together a mining pool, an exchange, a wallet, a public chain, and an institutional investor. Today, CoinEx has earned global user recognition with its fast, stable performance and smooth deposits/withdrawals. In the future, the exchange will continue to strive for a comprehensive, stable service ecosystem. IV. Backed by a tech background, CoinEx boasts years of crypto expertise According to its official introduction, CoinEx is backed by a founding team consisting of technical experts who boast rich experience in the security of systems, operations, and wallets. For instance, Haipo Yang, CoinEx’s founder, is a top-notch tech expert in the industry. During the early days, he launched ViaBTC Pool and completed all the coding. In addition, members of CoinEx’s core team all have a background in world-renowned companies that focus on the Internet or finance, including some of the earliest crypto practitioners and investors. The team has expertise in technology R&D and global operations. When it comes to technology, CoinEx independently built the world’s first 10,000-TPS trade matching engine that allows it to carry 10,000 transactions per second, running stably despite the concurrence of massive transactions. In addition, on CoinEx, deposits arrive as fast as five minutes, and small withdrawals are processed in real-time. CoinEx’s system remains steady and solid even when the trading volume surges during a bull market. V. Centering on user experiences, CoinEx keeps pushing for globalization While building a global presence, CoinEx has always prioritized product & service and user experiences. As the exchange explores international markets, it has remained committed to product development and the user-first principle. Right now, CoinEx is providing services in markets around the world 24/7. Available in 16 languages, the exchange continues to venture into new markets. It should be noted that CoinEx’s product design features an interactive experience that combines elements such as aesthetics, simplicity, smoothness, and practicality, which allows users to benefit from simple, elegant operations. This also shows that the CoinEx team has always been committed to product improvement, providing users with one-stop crypto trading services that are more satisfying and considerate. Overall, when choosing a suitable futures trading platform, apart from security, users should consider whether a platform’s products are easy to use and if its operations are convenient. In addition, they should also account for the products and services that are available on a platform to benefit from efficient, satisfying crypto trading experiences.
Billionaire Elon Musk is one of the most vocal supporters of Dogecoin. Using his platform and notoriety, Musk had been one of the major factors behind the run-up to $0.70 for DOGE in early 2021 before it began to decline. Nevertheless, the billionaire has not faltered in his support for Dogecoin and continues to be […]
Ethereum has seen some selling pressure today and has rolled back on a portion of its gains. The cryptocurrency was bouncing back from below the $1,000 levels but has found hurdles on lower timeframes. Related Reading | Outflows Rock Bitcoin As Institutional Investors Pull The Plug, More Downside Coming? At the time of writing, ETH’s price trades at $1,166 with a 3% loss in the last 24 hours and a 3% profit in the past 7 days. Ethereum and Binance Coin were two of the best-performing assets in the crypto top 10 market cap. Their gains were able to pull back Bitcoin’s dominance which was close to reclaiming 50% of the sector’s total market cap. The second crypto in the top 10 decoupled from Bitcoin, while the latter stuck, ETH moved to the upside. When Bitcoin lags, and Ethereum leads, is often considered an indicator of potential downside. In 2021, when Ethereum moved on its own, the crypto market experienced downside price action. According to Arcane Research, Ethereum not only moved on its own on the spot market, but the futures market saw some interest action. The Chicago Mercantile Exchange (CME) ETH futures contracts have been trading at a discount when compared to ETH’s spot price. This divergence seems to hint at future losses for Ethereum. As seen below, the ETH futures contract has been trending to the downside since the beginning of June 2022 with an increase in open interest. This is the first time since the launch of this investment product that there is a discrepancy with its spot price. Arcane Research noted the following on why this could be bad news for the second crypto by market cap: We also note that the Ether-denominated open interest on CME climbed to the highest level since early April on Thursday while seeing a slight decline over the weekend. According to the most recent CFTC Commitments of Traders reports, assets managers are shorting Ether heavily (…). Are The Ethereum Shorts Justified? The Arcane Research report claims this is the first-time institutions have been this short on Ethereum. These entities have positions of almost $40 million on the CME trading platform with a slight reduction in the past seven days. Ethereum is currently in the process of migrating from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus algorithm. Recently, ETH core developers announced the delay of a component that will lead to this upgrade. Called the “Ethereum Difficulty Bomb” is the mechanism that will enable people to mine ETH. The ETH core developers claimed this will have no impact on the migration, but the market could have a different perspective. In addition, the U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler claimed that he is only willing to acknowledge Bitcoin as a commodity. He refused to speak about other cryptocurrencies but claimed the majority fits the description of a security. Related Reading | Why Crypto Is “Likely To Dump” As It Lags The S&P 500, Expert Says If Ethereum is classified as a security, the decentralized finance (DeFi) and non-fungible tokens (NFT) and other sectors could be impacted and forced to comply with new regulations. Remains to be seen if these institutions can profit after the crypto market has experienced a massive crash.