Today at Chaintalk News

June 10, 2023

Decentralization for Newbies: A Comprehensive Introductory Guide

By ChainTalk TV

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Custodia's Suit Against Fed Over Denial of Master Account Can Proceed, Court Rules

Custodia's challenge of the Federal Reserve Bank of Kansas City's decision to deny the crypto-friendly bank access to the Fed banking services can continue, a U.S. district court ruled Thursday, rejecting a Fed motion to dismiss the case. The U.S. District Court of Wyoming, however, did reject Custodia's request that the Fed be compelled to grant it a so-called master account and membership with the Fed, Instead, Custodia must continue its claims via normal channels.
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XRP’s uptrend defies market turmoil, details inside…

XRP defies the crypto market's decline, soaring with a 26% gain. Its social buzz surges while other altcoins struggle to keep up.
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UK Bans ‘Refer a Friend’ Bonuses With Tougher Crypto Marketing Rules

Businesses marketing crypto assets to U.K. consumers will have to abide by stricter advertising rules presented by the country’s financial watchdog. These include prohibiting ‘refer a friend’ bonuses for the industry as well as introducing a cooling-off period for first time investors. Regulator Clamps Down on Crypto Ads, Wants to Make Risks Clearer to British
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$1,440,000 To Be Handed Out With No Strings Attached in Universal Basic Income Pilot

A new Universal Basic Income (UBI) trial will test just how effective it is to hand out cash to everyday citizens. The two-year trial will give away £1,600 ($2,013) per month to people in central Jarrow, northeast England and East Finchley, north London. The test, which will send out a total of $1.44 million, will The post $1,440,000 To Be Handed Out With No Strings Attached in Universal Basic Income Pilot appeared first on The Daily Hodl .
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Shiba Inu Whale Unstakes 4 Trillion $SHIB and Moves Them to Binance

The community behind the meme-inspired cryptocurrency Shiba Inu ($SHIB) has been abuzz after data from the Ethereum blockchain showed that more than 4 trillion tokens worth over $31 million were unstaked and moved to leading cryptocurrency exchange Binance. The transaction for a breathtaking 4 trillion SHIB tokens, was completed within an hour and was directed
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FTX Judge Says Identity Of Customers Will Remain Undisclosed

The judge overseeing FTX's bankruptcy case has allowed the crypto exchange to redact the names of 9 million of its individual customers from its bankruptcy filings.
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How are Smart Contracts Important to Business Ecosystems?

In our rapidly evolving digital landscape, business operations are undergoing significant transformations. A key driver of this revolution is blockchain technology and its application in creating smart contracts. A smart contract is a computer program that automates the execution of contracts, enabling trusted transactions to occur without the need for intermediaries. These contracts facilitate the ... Read more
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XRP bulls defend $0.517-level, but will the uptrend continue?

The higher low at $0.501 was briefly violated on 5 June, which signaled bearish intent. However, demand for XRP has been steady recently.
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Cryptocurrency Crisis of the Week: Virtual Market Turmoil Unleashed

Last week, the cryptocurrency market once again found itself under the microscope. The Securities and Exchange Commission (SEC) filed a
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cointelegraph

Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

The group of scammers have recently taken over accounts belonging to the founder of Pudgy Penguins, the CTO of OpenAI and even crypto hater Peter Schiff.

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Scammers steal nearly $1M after hijacking 8+ prominent crypto twitter accounts

The group of scammers have recently taken over accounts belonging to the founder of Pudgy Penguins, the CTO of OpenAI and even crypto hater Peter Schiff.
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Crypto Whales Are Stashing Stablecoins, Not Cashing Out: Data

New data from the stablecoin sector of the cryptocurrency space, taken from the Ethereum ($ETH) blockchain, shows that crypto whales haven’t cashed out of the market during its recent turbulence, but rather that they’re waiting in the sidelines while holding onto stablecoins. According to a recent report from cryptocurrency analytics firm Santiment, stablecoin sharks and
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Bitcoin (BTC) Price Can Hit $50K by The End Of 2023 If This Historical Pattern Playout

The post Bitcoin (BTC) Price Can Hit $50K by The End Of 2023 If This Historical Pattern Playout appeared first on Coinpedia Fintech News Following the Securities and Exchange Commission (SEC) lawsuits against major cryptocurrency exchanges Binance and Coinbase, Bitcoin (BTC), the leading cryptocurrency in the market, has recently shown a period of consolidation, trading without significant upward or downward movement. However, even in the face of increasing regulatory pressures faced by the cryptocurrency market, analysts remain optimistic about …
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Pro-XRP Lawyer Answers if Coinbase Will End Support for Solana, Polygon and Cardano

The post Pro-XRP Lawyer Answers if Coinbase Will End Support for Solana, Polygon and Cardano appeared first on Coinpedia Fintech News Robinhood, an American trading platform, has revealed its plans to stop supporting certain cryptocurrencies. Effective June 27, 2023, at 06:59 PM (ET), Robinhood will no longer offer services for Cardano (ADA), Solana (SOL), and Polygon (MATIC). The decision was made after a review of the platform’s cryptocurrency offerings. Following the U.S. Securities and Exchange Commission …
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Robinhood to Delist Cardano, Solana, and Polygon after SEC Crackdown

The post Robinhood to Delist Cardano, Solana, and Polygon after SEC Crackdown appeared first on Coinpedia Fintech News Robinhood, the well-known trading platform, has announced that it will no longer offer support for three specific cryptocurrencies starting June 27, 2023. The affected cryptocurrencies are Cardano (ADA), Polygon (MATIC), and Solana (SOL). This decision comes shortly after the U.S. Securities and Exchange Commission (SEC) filed lawsuits against major cryptocurrency exchanges Binance and Coinbase. The …
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The how and why of Ethereum’s latest update

Ethereum developers reached an agreement on the latest developer call for the Cancun upgrade.
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Binance US Halts USD Deposits, Withdrawals — Asks Users to Withdraw Dollars by June 13

Binance US has informed its users that U.S. dollar deposits have been suspended and USD withdrawals will no longer be processed. The crypto exchange has asked customers to withdraw dollars by June 13 as it transitions into a crypto-only trading platform. The move followed a lawsuit against the crypto exchange and several other Binance entities
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Avalanche Arcad3; The New Era of Web3 Gaming

Avalanche, a leading blockchain platform, is set to introduce the Avalanche Arcad3. In the rapidly expanding world of blockchain, Web3
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How Can Smart Contracts Accelerate Business Invoicing?

In the contemporary digital era, business processes are continually evolving, with new technologies offering solutions to traditional challenges. One area that has been significantly impacted by these technological advancements is business invoicing. Despite this progress, many businesses still face common invoicing issues such as delayed payments, errors in invoicing details, and inefficient record keeping. This ... Read more
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Chinese Charities Accepting Digital Yuan Donations – More CBDC Firsts to Come?

Chinese charities are now accepting digital yuan donations, with the nation’s CBDC also breaking new ground in the world of corporate loans. Per the media outlet WXRB, the coastal province of Jiangsu has welcomed its first “online corporate and personal digital yuan donations platform.” At a ceremony held earlier this week, the state-run commercial bank the Agricultural Bank of China made a CBDC donation to the Wuxi Charity Federation.... Read More: Chinese Charities Accepting Digital Yuan Donations – More CBDC Firsts to Come?
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cointelegraph

SEC charges against Binance and Coinbase are terrible for DeFi

The SEC’s charges against Binance and Coinbase could have far-reaching consequences for decentralized finance.

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Best Crypto to Buy Now 9 June – Immutable X, Render, Stacks

The cryptocurrency industry is in turmoil, with Coinbase and Binance experiencing a massive outflow of over $4 billion in recent days. This is due to the allegations by the SEC of federal securities law violations, leading to a significant number of users leaving these exchanges. Given these circumstances, how might this impact the selection of the best cryptos to buy now? ... Read More: Best Crypto to Buy Now 9 June – Immutable X, Render, Stacks
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Solana gets dragged into centralization vs securities tussle

Amidst the raging debate on the degree of decentralization, Solana seemed to be outperforming its competitors.
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Binance.US Surprises Market with Potential USD Withdrawal Suspension

Binance.US, one of the prominent cryptocurrency exchanges, has made a surprising announcement that has sent ripples through the crypto community.
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Crypto Analyst Predicts Ethereum ($ETH) Could Rise to $2,500, Amid Potential $XRP Breakout and $DOGE Decline

A popular cryptocurrency trader has recently revealed that he believes the price of the second-largest cryptocurrency by market capitalization, Ethereum ($ETH), is set to “easily” surge in the near future, and updated his outlook on altcoins $XRP and $DOGE. In a video published to his over 50,000 followers on the Google-owned video-sharing platform YouTube, pseudonymous
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OokiDAO Loses Lawsuit Filed By CFTC, Ordered To Pay $643,000

The CFTC has won a lawsuit filed against OokiDAO, setting a critical precedent for lawsuits involving decentralized autonomous organizations. OokiDAO has been ordered to pay a penalty of $643,000 and shut down its operations in the U.S.
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US Banks Doing ‘Very Little’ To Recover $24,000,000,000 Stolen From Customers This Year: Report

American banks are doing “very little” to recover and reimburse billions upon billions of dollars stolen from customers each year, according to a new report. People are struggling to get their banks to protect them from massive and systemic checking fraud, reports NBC Los Angeles. The specific type of theft – which is expected to The post US Banks Doing ‘Very Little’ To Recover $24,000,000,000 Stolen From Customers This Year: Report appeared first on The Daily Hodl .
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Opportunities We Are Seeing In Crypto: Binance Coin And Polygon

Summary BNB and MATIC display bullish prospects, while AAVE's progress is less inspiring for a bullish outcome. BNB offers an interesting short-term trade with potential to reach new all-time highs, despite the SEC lawsuit risk. MATIC has performed well and shows a strong risk/reward ratio, with a potential breakout coming. Produced by Jason Appel, with Avi Gilburt and Ryan Wilday From June of 2022, we published a trio of articles (3 Alts With Setups For Higher Highs In the Next Bull Cycle in Crypto) providing detailed thoughts on Binance Coin (BNB-USD), Polygon (MATIC-USD), and Aave (AAVE-USD). This article will review the calls from the past year and provide detailed thoughts on prospective bullish paths for BNB and MATIC. In the case of AAVE, while the setup discussed in its August 2022 update has not invalidated, its progress since then does not inspire confidence for the bullish prospect that was presented and a lower low down to the $22-$25 region cannot be ruled out. First, it’s wise to take a look at Bitcoin (BTC-USD). In the Elliott Wave analysis, we endeavor to consider each chart on its own and while a broad array of Cryptos are developing relative independence from the price movements in Bitcoin, this has not yet proven to be a durable feature of this nascent class of assets. As such, we’d be remiss not to review where the price of Bitcoin is in context for larger expectations. From my recent Bitcoin update from late March of this year: “With all that's transpired, though I can't rule out a lower low [beneath the 2022 low] (which will be discussed), the primary interpretation of this action from November is an initiation move of sorts [to new all-time highs].” To clarify: the action from the 2022 low has not yet confirmed resolutely a completion of the bear market. Price still has $32k-$48k resistance to contend with, but the pattern off the lows offers reasonable indication to be tentatively in favor of a completion to the bear market. BNB In the past few weeks there have been numerous headlines which would appear to be bearish for crypto. The SEC has filed lawsuits against both Coinbase ( COIN ) and Binance, two of the world’s largest Cryptocurrency Exchanges. And while there’s been an uptick in volatility and a downturn in both Coinbase shares prices and BNB price, both have come in to their larger support regions and the crypto market as a whole has not really blinked From the BNB article: “The breakout in February of 2021 marked the start of what's typically found to be the strongest most directional portion of a trend, known as “the heart of the third wave.” In this case, Minor 3 of Intermediate (3) of Primary (circle) 3. Since the May 2021 high, price has pulled back substantially in percentage terms, but note on the chart, the high consolidation, ie, BNB has retraced a very small portion of the wave 3 advance and price is range-bound near the upper end of the whole wave 3.” Given the protracted sideways action, I have slightly shifted perspective to considering a higher degree (3) having completed. However, this does not change expectations for a very bullish outcome over a multi-year time horizon as BNB continues to maintain well above necessary Fibonacci support. Unlike Bitcoin, BNB does not display a pattern that offers confidence to consider a lasting bottom in place, but the current action does present a very favorable short term trading setup with an outside prospect of it turning into a much higher yielding swing trade. The primary perspective currently, shown in black, is that price is still within a corrective pattern and in this interpretation larger degree support ranges down to $100-$120. While this displayed path does not clearly present a very bullish buy and hold outlook for the next several months, there are some individual discrete trading opportunities that have arisen on the smaller time frame. Regarding BNB, price is within support for a favorable long entry. Micro support is in the $245-$277 region and as of writing this, price is hovering in the middle of that zone at $264 and looks to be setting up for another drop down to $250~. The upside target for wave ((III)) in this pattern is $400-$460, followed by a corrective retrace in the wave (iv) and then one more high to complete the B wave, targeting $480-$575. So long as price keeps from making a meaningful break below $240, the short term expectations remain for a bullish resolution from this current pullback. From the ultimate $480-$575 region, given the corrective formation up from the 2022 lows, expectations are for another leg down to complete the wave (4). That said, my secondary alternative path shows the prospect that price makes its way up to the larger degree target region but in an ending diagonal pattern. In either case, given the short term setup, BNB offers an interesting trade from a risk/reward perspective that has the opportunity to run to new all-time highs. The technical setup aside, please be mindful of the heightened risk based on the SEC lawsuit. For those concerned about the longer-term expected path: The expectation is that price can drop from the B wave target ($480-$575) down to the $100-$120 region to complete a very elongated wave (4) and then head up to new all-time highs. Note, my adjusted target region for the wave (5) - whether price heads there in more direct fashion as per the blue count or in more circuitous fashion as per the black count - is $1750 all the way up to a whopping $7500 with an ideal target between $2100-$3700. Jason Appel (Crypto Waves) MATIC Of the three altcoins written about here last summer, MATIC has fared the best by a long shot. Even with MATIC’s large pullback from the February 2023 high, it is still up over 70% since we presented it here on July 6th of 2022. And at the February peak, price was up about 200% from the price at publication. Unlike BNB which has moved up in a corrective pattern from the 2022 low, MATIC has managed to rally in a 5 wave formation from into the February 2023 high. This is very suggestive of a completed wave (4) and price starting the wave (5) up to new all-time highs. We note in Elliott Wave analysis that an initial 5 wave pattern in the direction of a larger trend that occurs at the completion of a corrective, countertrend, 3 wave pattern signals an initiation move for the next cycle in the trend, in this case bullish. Though MATIC’s rally from the 2022 low into the February 2023 is somewhat irregular. The overall pattern is “textbook” from an Elliott Wave perspective and portends a big breakout coming. The lower end of this target region, $4.19, represents the prospect of a weak wave (5). However, supposing this (5) finds support in the standard region $0.54-$0.85 and then continues upward in impulsive fashion, we will keep our attention on the $6.40 to $13 region. Clearly, $13 offers a much bigger gain than $4.19, but as price rises into the target region, the risk/reward ratio begins to deteriorate and we encourage good risk management practices among all our members at Crypto Waves. Even considering the lower end of the target region, a long entry in support offers a well-defined setup with a strong risk/reward ratio On the micro level price has enough waves to consider the downside pullback to be completing but a rally over $0.97 will be needed to suggest with some confidence that a low in wave 2 has been struck. In order for the thesis of this trade to remain within reason, price should get no sustained break beneath $0.40. While technical invalidation of the thesis does not occur until a prospective break below $0.31 develops, below $0.40 on a sustained basis would jeopardize the upside potential that’s shown within this setup. Even with a large percent risk to the downside from current support, the overall risk/reward skew with a great technical setup is favorable in the current region. Jason Appel (Crypto Waves)
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Bitcoin (BTC) Lower Timeframe Outlook: $26,800 Breakthrough Could Spark Rally

Bitcoin (BTC), the largest cryptocurrency in the market, made a fake attempt to breach the $27,500 barrier on Tuesday. Since then, it has been trading sideways, moving within a narrow channel. The 50-day Moving Average, which is the nearest resistance, is at $27,200. Meanwhile, the strongest support is at the 200-day MA, placed at $25,200. For Bitcoin to initiate a fully formed bull run in the market, it is essential to hold this support level, if BTC bulls expect another attempt to breach the $30,000 mark and propel the market in full force, the $25,200 support level is crucial, and it needs to be held to achieve this goal. Related Reading: Here’s How Current Bitcoin Capitulation Compares With Past Crashes XRP And LTC Poised For Breakouts As Bitcoin Eyes $28,000 The lower timeframe picture for Bitcoin is straightforward, according to cryptocurrency analyst Michael Van de Poppe. He believes that for BTC to continue its upward trend, it needs to break through the $26,800 level. If that level is breached and flipped, Van de Poppe predicts that $27,500 is a likely next target, with the possibility of further breakouts on XRP and Litecoin (LTC). Van de Poppe’s analysis is based on technical indicators and market trends. He highlights the significance of the $26,800 level as a key resistance level that must be overcome for BTC to gain momentum. The cryptocurrency has been trading in a narrow range, and a breakout could signal a shift in market sentiment. Van de Poppe’s predictions align with the overall bullish sentiment in the cryptocurrency market, with many analysts expecting BTC to continue its upward trajectory. However, there are also concerns about potential price corrections and volatility, which could impact short-term market movements. BTC In Period of Stability, Revisiting 200-Week MA Despite Downside Volatility According to cryptocurrency analyst Rekt Capital, BTC is currently in a period of stability. If this stability continues, BTC could revisit the $27,600 level and potentially break out. However, BTC is still retesting the 200-week Moving Average despite downside volatility below it during the week. Furthermore, BTC is currently trading below a series of Lower Highs, which is represented by the blue line in the chart. To move higher, BTC needs to invalidate this series of Lower Highs. On the other hand, the 200-week MA is acting as support, as indicated by the orange line in the chart. Together, these factors are creating a pennant-like structure, which is a pattern that typically indicates price compression and is often followed by a period of volatility. Rekt Capital’s analysis suggests that BTC is at a critical juncture, with the potential for a breakout or a breakdown depending on how it interacts with the 200-week MA and the series of Lower Highs. Related Reading: LUNC Token Continues To Surge During Market Uncertainty, What’s Behind It? Despite the potential risks, many investors remain bullish on BTC and other cryptocurrencies, with the overall market continuing to show strength and resilience. As institutional adoption of cryptocurrencies continues to grow, the demand for BTC and other digital assets is expected to increase, potentially driving prices higher in the long term. Featured image from iStock, chart from TradingView.com
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Large-Cap Cryptos BNB, Cardano, Solana and Polygon Plunge in Price This Week After SEC Labels Them Securities

Four large-cap digital assets cratered in price this week after the U.S. Securities and Exchange Commission (SEC) labeled them securities in a pair of lawsuits against high-profile crypto exchanges. On Monday, the SEC sued Binance and its CEO Changpeng Zhao over what the federal agency’s head, Gary Gensler, called “an extensive web of deception, conflicts The post Large-Cap Cryptos BNB, Cardano, Solana and Polygon Plunge in Price This Week After SEC Labels Them Securities appeared first on The Daily Hodl .
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Russian Individuals Accused of Hacking Crypto Exchange & Operating Illicit Platform

Recent developments in the world of cryptocurrency have seen Russian nationals facing charges for hacking one cryptocurrency exchange and engaging
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Cryptocurrencies Can’t Be Allowed to Undermine Public Trust in Capital Market, Gensler Says

The SEC Chair has been in the eye of a storm since his recent lawsuits against Binance and Coinbase.
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SEC charges against Binance and Coinbase are terrible for DeFi

The SEC’s charges against Binance and Coinbase could have far-reaching consequences for decentralized finance.
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SEC’s Gary Gensler Leads Efforts to Strengthen Security-Based Swaps Market Integrity

In recent statements, Gary Gensler, Chairperson of SEC Securities Exchange Commission, has strongly urged that stricter regulations be put into
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Bitmex Group CEO: US Crypto Crackdown May Drive Top Talent to ‘Markets With More Regulatory Certainty and Lower Risk’

Unlike in the United States where authorities are cracking down on the crypto industry, the regulations governing the industry are “more clearly defined and commercially viable in markets like Hong Kong, Singapore, and the UAE,” Stephan Lutz, the group CEO and CFO of the crypto exchange Bitmex, has said. U.S. Crackdown Driving Away Talent In
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BNB dips under key support – Can bulls rebound

Sellers sustained the bearish downtrend with a break of the $265 support. However, technical indicators hinted at a short term bullish rebound.
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Coinbase’s CEO Prefers Crypto Belongs to America

The CEO and Co-founder of Coinbase, Brian Armstrong says that crypto belongs in America. However, crypto will enrich the updated
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Bitcoin “Throwback” Could Trigger Flawless Technical Bottom Formation

Bitcoin price is struggling after failing to make it above resistance last month. Combined with the recent pressure on the crypto market applied by the US SEC, things aren’t looking great for bulls. However, the correction has stopped precisely at a key level that could indicate a “throwback” is in process. If confirmed, BTCUSD could trade above $40,000 per coin in the near future. A Closer Look At The Technical Bottom Formation In Crypto The study of technical analysis uses past price history to predict probabilities in future market movements. Certain patterns have been discovered time and time again, that produce reasonably replicable results. From the size or shape of the pattern, analysts can derive roughly how far the associated breakout should travel. Related Reading: Bitcoin Retests Moving Average That Marked All Major Market Bottoms Bitcoin price action over the last year has formed what appears to be a technically flawless inverse head and shoulders pattern. The inverse head and shoulders is a bullish reversal pattern that appears at the bottom of a trend as it change direction. It consists of a left shoulder, head, a right shoulder, and a neckline. The head must be lower than each shoulder, and the neckline is of extra importance, because that’s where the abundance of orders are associated. Is this a throwback to the neckline? | BTCUSD on TradingView.com What Exactly Is A Bitcoin Throwback, And Why Does It Matter? A throwback occurs after a breakout of the neckline, when the market isn’t convinced of the bullish move. The neckline holding is a sign to others that the pattern could confirm, and more traders pile in creating a breakout and strong move higher. When using the example as a comparison, the resulting breakout could reach as much as over $40,000 per BTC. Related Reading: Rare Crypto Signal Emerges That Could Spark Another 2017-Style Boom When bullish patterns fail, the result is called a “busted” pattern and can cause a further crash as long traders are stopped out below the neckline. Stop loss levels are placed below the neckline, because a confirmed pattern will not breach below this point. Therefore, for the pattern to confirm, holding the neckline is especially critical. Will we see this bullish chart pattern ultimately confirm, or fail? This chart appeared in issue #7 of CoinChartist VIP alongside a dozen other exclusive crypto charts. Tony is the author of the CoinChartist (VIP) newsletter. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
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HBAR Price Prediction 2023-2032: Hedera Hashgraph Soon to Retest its ATH?

HBAR Price Prediction 2023-2032 Hedera Hashgraph is a trending cryptocurrency focused on providing a sustainable, enterprise-grade blockchain. The asset has been performing extremely well recently, prompting investors everywhere to search for a Hedera Hashgraph price prediction. So that is a heads-up in crypto winter despite the doom which tends to pull everyone else connected to ... Read more
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Crypto Investor Sentiment Refuses To Budge, But Can The Weekend Change This?

Crypto investor sentiment has been in the same place for over a month as investors have been hard-pressed to make a decision. This comes amid heightened regulatory headwinds with the United States Securities & Exchange Commission suing the likes of Binance and Coinbase. But could a change be coming soon? Crypto Fear & Greed Index Remains Neutral Following the market surge of Q1 2023 where Bitcoin was able to reclaim the $30,000 level, the market has been in a somewhat downward spiral since then. This has cumulated in investors being unwilling to place bets on whether the market will move up or down, bringing the Crypto Fear & Greed Index to one of its longest stretches in neutral territory. Related Reading: Cardano (ADA) Declines As Market Recovers Amid Security Charges Presently, the index is sitting at a complete dead center of 50 on the scale which ranks sentiment from 1-100. 1-25 marks the extreme fear territory, 26-46 marks the fear level, 54-75 means greed and 76-100 is extreme greed. The 47-53 range is reserved for the neutral territory. At this point, the index points to a lack of activity from investors. This is understandable given that investors are currently waiting for more clarity from regulators to determine if investing in the digital assets right now is a good idea or not. Fear & Greed Index spends over one month in neutral | Source: alternative.me The index has now spent the better part of the last month in this neutral territory as the tug-of-war between the bulls and the bears come to a standstill. So there is no significant movement expected in either direction while it remains this way. Can The Weekend Shift Market Sentiment? The weekend has historically been a period of time characterized by low volatility due to reduced market participation from investors as they take a break from the markets. However, there have also been times when the weekend has come with the most bullish or bearish movements for the market. Total market cap sitting at $1.074 trillion as investors capitulate | Source: Crypto Total Market Cap on TradingView.com As the market heads into another weekend, the possibility of a shift occurring during this time, although not very high, remains present. This is because, with low momentum, it is easier for the markets to swing one way or another with less volume than required on a weekday. Related Reading: Here’s Why Ethereum Could Be At Risk Of Falling To $1,000 Again Given this, there could be a rapid surge if bulls are able to beat the $27,000 level for Bitcoin in the next couple of days. But bears are awarded just as much opportunity during this time, especially if Bitcoin fails to hold the $26,000 support. Nevertheless, a swift movement in either direction could shake investors out of their current wary state to jump back into the market once more. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
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DOJ Identifies and Charges Mt. Gox Hackers For Stealing 647,000 Bitcoin

The hackers that stole customers’ Bitcoin from Mt. Gox had compromised the exchange’s private keys as early as 2011.
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Ancient Bitcoin Whale Comes Back to Life, Moves $38 Million After Making 13,500% Gain

A Bitcoin wallet that had been dormant for over 10 years has, in a move that caught the attention of the wider cryptocurrency community, sudden sprung to life, transferring a substantial 1,432.93 Bitcoin, worth around $38.1 million, to a new address. According to on-chain analytics firm Lookonchain, the whale’s wallet had received its coins back
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Assessing ins and outs of XRP as DEX volume slumps

XRP continues to prove strength in hostile conditions. However, on-chain data revealed the sideways state of activity. Find the details here.
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Ripple (XRP) Has Indicating Strong Bullish Momentum

The U.S. Securities and Exchange Commission (SEC) continues its charges against the top crypto exchanges, Binance and Coinbase, which have
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New Meme Crypto $MIKE O'Hearn Token Joins Top Trending Coins In DEXTools Hot Pairs

Baby don't rug me? One of the newest meme coins is based on the popular Tiktok and Twitter meme featuring bodybuilder Mike O'Hearn, and it's already a top trending cryptocurrency. $MIKE coin is up 70% in the past 24 hours and recently broke into the top ten trending cryptocurrency assets, or 'hot pairs', on DEXTools which tracks tokens on decentralized exchanges.... Read More: New Meme Crypto $MIKE O'Hearn Token Joins Top Trending Coins In DEXTools Hot Pairs
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Robinhood Delists Solana, Polygon and Cardano, Is Reviewing Crypto Options Post-SEC Lawsuits: Bloomberg

Trading giant Robinhood is reportedly delisting a handful of prominent crypto assets in response to the U.S. Securities and Exchange Commission (SEC) suing Binance and Coinbase for allegedly violating securities laws. According to a new report by Bloomberg, Robinhood’s chief legal officer, Dan Gallagher, told members of Congress that the firm is delisting smart contract The post Robinhood Delists Solana, Polygon and Cardano, Is Reviewing Crypto Options Post-SEC Lawsuits: Bloomberg appeared first on The Daily Hodl .
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SEC Clampdown Spurs $4B Deposit Flight From Binance, Coinbase and Binance.US

The exchanges, targeted by the SEC for violating federal securities laws, have endured a significant wave of user withdrawals but managed to process transactions in an orderly fashion so far.
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Solana Foundation Denies SEC Allegations, Asserts SOL Is Not a Security

Solana Foundation denies SEC’s allegations that SOL is an unregistered security. SOL is the native token to the decentralized Solana blockchain, according to the foundation. Solana Foundation’s head of policy disputes SEC’s claims, stating “SOL is not a security. The Solana Foundation has denied allegations from the Securities and Exchange Commission (SEC) that SOL is The post Solana Foundation Denies SEC Allegations, Asserts SOL Is Not a Security appeared first on Coin Edition .
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'Toxic Cocktail': EU Watchdog Calls Out Instagram, TikTok for Enabling Crypto Scams

Leading social media networks have been targeted by the BEUC for allegedly allowing misleading cryptocurrency ads.
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Hafize Erkan’s mission to revive Turkey’s staggering economy

In a major shuffle of Turkey’s economic helm, President Recep Tayyip Erdogan has made a groundbreaking move, naming Hafize Gaye Erkan, a Princeton-educated former U.S. bank executive, as the new head of the nation’s central bank. The bold appointment, marking the first instance of a woman leading Turkey’s central bank, signals a potential departure from ... Read more
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cryptocompare

OKX Completes 20th Quarterly Burn: Here’s How Much OKB Was Destroyed

The latest round is the third-largest in OKB’s burn history.
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cryptocompare

US CFTC Wins Precedent Setting Case Against Ooki DAO, Calling It a ‘Wake-Up Call’

A US district judge ruled in favor of the US Commodity Futures Trading Commission in its litigation against Ooki DAO — which could have further implications for other decentralized autonomous organizations. Judge William H. Orrick entered a default judgment order on Thursday night, which requires Ooki DAO to pay a civil penalty of $643,542, stop operating in the US and ordering it to shut down Ooki DAO’s website.... Read More: US CFTC Wins Precedent Setting Case Against Ooki DAO, Calling It a ‘Wake-Up Call’
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cointelegraph

Robinhood will end support for 3 tokens named in SEC lawsuits

The company cited the SEC’s actions against Coinbase and Binance as reasons for the delisting, saying the lawsuits “introduced a cloud of uncertainty” around the tokens.

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cointelegraph

Crypto Biz: The SEC’s summer crackdown, Apple’s ‘spatial computing,’ and Mercado Bitcoin gears up

Along with the recent wave of lawsuits, this week’s Crypto Biz also explores Apple’s new headset, Brazil’s Mercado Bitcoin payments arm and how regulators are targeting AI-generated fake news.

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cointelegraph

US Justice Department charges two men in Mt. Gox hack

The Justice Department claims Alexey Bilyuchenko and Aleksandr Verner took control of a Mt. Gox server and stole 647,000 Bitcoin from the exchange.

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cointelegraph

Real-world asset protocols outperform DeFi blue chips due to tokenization wave

Traditional finance companies are boosting their engagement with Ethereum-based real-world asset protocols, resulting in RWAs outperforming DeFi blue chips.

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cointelegraph

DeFi volumes surge 444% after Binance, Coinbase lawsuits: Finance Redefined

The top-100 DeFi tokens by market capitalization had a bearish week as the total value locked in these protocols fell below $50 billion again.

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cointelegraph

Price analysis 6/9: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

Stock markets are showing strength, and selling by crypto traders has taken a pause. Is this a sign that Bitcoin and altcoins are about to reverse course?

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cointelegraph

SEC can’t find Binance CEO Changpeng Zhao, asks court for ‘alternative service’

The Binance CEO is rumored to be in Dubai, but with no known base of operations, the SEC wants permission to serve his lawyers on his behalf.

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cointelegraph

De-dollarization: Is it really happening?

In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications.

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cointelegraph

US court rejects Fed’s motion to dismiss Custodia Bank case

Digital asset bank Custodia sued the Fed in June 2022, claiming an “unlawful delay” in processing an application for its master account.

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cointelegraph

Bitcoin, Ethereum to shake off ‘toothless adversary’ SEC as FOMC looms

BTC and ETH price action will continue to be affected by macro events, QCP Capital says, with next week looking “action packed” for crypto volatility.

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cointelegraph

Crypto.com suspends US institutional exchange service

The global cryptocurrency exchange cites limited demand for institutional-grade services under current market conditions.

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cointelegraph

Why is Bitcoin price stuck?

Bitcoin is a volatile asset, but BTC price can stay flat for days, weeks and even months for various reasons.

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cointelegraph

Kevin O’Leary won't rule out criminal charges for Binance

In an interview with Cointelegraph, Kevin O’Leary said he wouldn’t rule out the possibility of more serious charges against Binance and its CEO, Changpeng Zhao.

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cointelegraph

How to use credit cards wisely to avoid debt

Discover effective strategies and best practices to use credit cards wisely and avoid debt.

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cointelegraph

Binance VP of marketing: Crypto needs to ‘double down’ on community support

Rachel Conlan, the new VP of marketing at Binance, says that “critical” times in the industry call for major companies to emphasize community, clarity and simplicity.

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cointelegraph

The shift from centralized exchanges to DEXs

The growth of DeFi has happened in spite of the CEXs' stranglehold, with users relying on non-custodial wallets to access even the most basic of DeFi products.

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cointelegraph

US House committee releases new stablecoin bill draft

The draft bill is set to go before the House committee for discussion on June 13 and, if approved, could become the first example of crypto legislation in the United States.

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cointelegraph

Nifty News: Kraken NFT exits beta, Coinbase’s ‘Stand with Crypto’ gains support and more

A Bitcoin inscription service aims to compete with Ordinals by offering smart contracts and larger file sizes.

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cointelegraph

EU starts countdown to crypto legislation, adds MiCA to official journal

MiCA, which comes fully into force by the end of 2024, aims to create a consistent regulatory framework for crypto assets among European Union member states.

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cointelegraph

US senators propose AI bills for transparency and innovation

The bipartisan bills target government transparency when using AI and the formation of a new Office of Global Competition Analysis to stay on top of innovation.

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cointelegraph

Bitcoin price can gain 60% if ‘textbook’ chart pattern confirms — Trader

Bitcoin is attempting to cement an inverse head-and-shoulders pattern, which could spark a “sprint” to $40,000.

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cointelegraph

‘Already explored’ — Apple Vision Pro fails to impress Mark Zuckerberg

Zuckerberg highlighted divergent philosophies, with Meta emphasizing a social metaverse, while Apple’s device seemed designed for solitary use.

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cointelegraph

Tether’s game plan in El Salvador: Why invest in Volcano Energy?

Stablecoin issuer Tether is making a strategic investment in energy production and Bitcoin mining to support El Salvador’s adoption of BTC.

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cointelegraph

Cathie Wood’s ARK loads up crypto bags, buys $19.9M Block shares

Just days after buying $21 million of Coinbase shares, ARK Invest CEO Cathie Wood has added another $19.9 million in Block Inc. shares across its ETFs.

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cointelegraph

FTX argues that releasing ‘valuable’ customer list will harm its sale value

Releasing the nine million-strong list of customers would “impair” the ability to maximize value for FTX creditors, a banker for the exchange said.

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cointelegraph

Paradigm slams SEC’s ‘incoherent’ attempt to police decentralized exchanges

DEXes are not securities exchanges, argues crypto venture firm Paradigm.

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cointelegraph

Ripple case more crucial than ever amid Coinbase, Binance SEC crackdown: Lawyers

Whether XRP is ruled as a security or not in the Ripple case will certainly have an influence on the two latest crypto exchange lawsuits, crypto lawyers told Cointelegraph.

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cointelegraph

Moody’s downgrades Coinbase, citing ‘uncertain magnitude’ of SEC charges

Meanwhile, financial services firm Berenberg Capital told Cointelegraph that it viewed Coinbase shares as "uninvestable" in the near term.

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