10X Research CEO Markus Thielen warns that buying the dip on Bitcoin is “too risky” post-crash. Meanwhile, other analysts point towards signs of stabilization. Bitcoin experienced a massive downturn on Monday, causing chaos in the crypto market and prompting analysts to reassess trading strategies. The bloodbath resulted from a complex interplay of factors, including the...
Bitcoin (BTC) prices could be back to above $60,000 by the end of the week, a Russian economist has claimed. The token’s price saw dramatic falls earlier this week, taking it to its lowest price levels in six months. Bitcoin ‘Back to $60k Soon’ BTC briefly dipped below the $50k mark on Monday. It has...
Hong Kong-based Mox, a Standard-Charted backed virtual bank, said Wednesday that it expanded its investment options to include cryptocurrency exchange-traded funds (ETFs). This move positions Mox as the first virtual bank in Hong Kong to offer crypto-related investment products. Mox cited a survey showing that about one-third of Hong Kong residents have engaged with cryptocurrencies....
The International Monetary Fund (IMF), on Tuesday, said that it is making progress toward reaching a consensus with El Salvador, advocating ways to mitigate Bitcoin (BTC) risks. According to an official statement, IMF’s discussions with the Salvadoran authorities include policies to strengthen the nation’s fiscal outlook. The policies would be supported by an IMF program,...
The Russian Senate has approved a draft law on crypto mining, meaning the landmark bill will now pass into law, pending the signature of President Vladimir Putin. However, while some Russian Bitcoin (BTC) miners have welcomed the news, others are unsure about the development. Russian Senate OKs Crypto Mining Bill – What Happens Next? Per...
The South Korean city of Ansan has announced that it will confiscate crypto from tax dodgers who fail to pay local levies. Per Newsis, government leaders in Ansan, Gyeonggi Province, said on August 2 that it would start using a “virtual asset platform seizure system” to “recover unpaid local taxes.” The city will roll out...
Police in Australia, in collaboration with blockchain analytics firm Chainalysis, have uncovered a massive crypto scam targeting Australian citizens. Over 2,000 compromised digital wallets were identified as part of their worldwide operation to combat cryptocurrency fraud. The collaborative effort focused on dismantling a global criminal network that employed a sophisticated phishing tactic to defraud victims...
Coinbase International Exchange finished July with a monthly perpetual futures trading volume exceeding $38b, data released Monday showed. This amount marks the highest trading volume since initial records began in May 2024. The 24-hour trading volume for Ether perpetual futures reached $1.5b, surpassing Bitcoin’s $1.3 billion. Meanwhile, the total open interest for Ether futures perpetual...
The cryptocurrency market has experienced a massive drawdown. A report from QCP Group, a prominent Singaporean digital asset trading firm, directly links the crash to aggressive selling by Jump Trading. This sell-off has sent shockwaves through the crypto ecosystem, causing major digital assets like Bitcoin and Ethereum to suffer double-digit losses. Jump Trading’s Massive Ethereum...
A wave of panic swept through financial markets on Monday as both cryptocurrency and traditional assets experienced significant drops. This left investors grappling with uncertainty and caused service disruptions at major brokerage firms. Downdetector, a platform that tracks service outages, reported a surge in complaints from Fidelity and Vanguard customers on Monday morning. Over 2,800...