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June 4, 2023
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1

Last BTC price dip before a $30K breakout? Bitcoin wipes weekend gains

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2

Mining difficulty passes 50 trillion — 5 things to know in Bitcoin this week

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3

Bitcoin played second fiddle as KAVA, XRP, TRX, RPL and RNDR led the crypto market in May

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4

Bitcoin price rejects at $28K as analysts eye CME futures gap dip

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5

Synthetix (SNX) trading volume overtakes GMX, but is the DEX token rally sustainable?

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6

Bitcoin nears $27K despite ‘hot’ PCE data sparking June rate hike bets

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7

Bitcoin ‘buys the rumor’ on US debt ceiling as BTC price nears $27.5K

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8

2 more rate hikes? Bitcoin analyst counts down to ‘huge’ volatility

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9

Bitcoin dips 5% to key support in ‘moment of truth’ for crypto market

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10

Ethereum is ‘woefully undervalued’ but growing more powerful: DeFi Dad, Hall of Flame

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11

Longing for liquidity — 5 things to know in Bitcoin this week

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12

These 4 altcoins could be ready for an up-move if Bitcoin rallies above $27,500

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13

$160K at next halving? Model counts down to new Bitcoin all-time high

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14

Bitcoin price capitulation below $26K possible as Friday’s BTC options expiry looms

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15

Bitcoin flips volatile at $27K as Fed’s Powell teases end to rate hikes

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16

Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?

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17

How much is Bitcoin worth today?

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18

Sink or swim at $27K? 5 things to know in Bitcoin this week

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19

Bitcoin price retests key support as Fed rate hike fears steal $27K

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20

‘One of the greatest’ Bitcoin metrics says BTC price bull run is here

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21

Bitcoin offers ‘good signs’ as analysts retain $40K BTC price target

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22

3 reasons why Ethereum price could struggle at the $1.9K level

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23

BTC price bounces at $25.8K lows amid warning over low whale interest

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24

Bitcoin price hits $27.2K, but new analysis warns more losses ‘likely’

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25

‘Don’t short when it’s dark green’ — How to trade the 2024 Bitcoin halving

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26

The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time?

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27

Coinbase screws up, Florida bans CBDCs, and Ordinals face controversy: Hodler’s Digest, May 7-13

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28

BTC price risks $27K loss as Bitcoin trend lines brew ‘bullish cross’

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29

Bitcoin bears need BTC price to go below $27K ahead of Friday's $900M options expiry

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30

Ethereum derivatives flirting with bearishness: Mind the $1,820 support

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31

Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express

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32

Joe Lubin: The truth about ETH founders split and ‘Crypto Google’

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33

Does Bitcoin price risk losing $28K with BTC futures premium at 2-month lows?

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34

3 signs PEPE token is about to trap bulls after 2,000% price rally

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35

Bitcoin miners have earned $50B from BTC block rewards, fees since 2010

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36

Bitcoin eyes liquidity above $30K as gold hits new all-time high

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37

Bitcoin trader eyes $63K BTC price for new Bollinger Bands ‘breakout’

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38

Ethereum price outlook weakens, but ETH derivatives suggest $1.6K is unlikely

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39

Bitcoin limps into FOMC as flagging volume adds to BTC price hurdles

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40

Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’

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41

BTC price may need a $24.4K dip as Bitcoin speculators stay in profit

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42

Bitcoin sell-off next? Binance BTC balance shoots up $1.5B in 1 month

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43

Bitcoin miners earned $50B from BTC block rewards, fees since 2010

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44

Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback

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45

China’s wave of ChatGPT rivals, Alibaba goes multichain: Asia Express

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46

‘Good luck bears’ — Bitcoin traders closely watch April close with BTC price at $29K

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47

Shirtless shitposting and hunting SBF on the meme streets: Gabriel Haines, Hall of Flame

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48

Got liquidated with Bitcoin futures? Get 3.5x leverage using this options strategy

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49

Bitcoin ignores US jobs data as BTC price dip puts $28K support at risk

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50

Whatever happened to EOS? Community shoots for unlikely comeback

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51

Dogecoin soared 23,000% in 2021 — Is history starting to repeat for DOGE price?

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52

Bitcoin price struggles to hold above $30K amid regulatory uncertainty

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53

Ether price struggles to maintain support as regulatory challenges and network issues weigh

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54

Bitcoin price can ‘easily’ hit $20K in next 4 months — Philip Swift

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55

Bitcoin price holding $27K could open buying opportunities in BNB, ADA, XMR and TON

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56

Ethereum price lower highs vs. Bitcoin hint at more downside in April

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57

Dogecoin price limps below a key support after Dogeday turns into a sell-the-news event

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58

BTC price dives 3% in minutes as ‘deep correction’ grips crypto market

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59

Bitcoin at key point with BTC price at $28.8K — Bollinger Bands creator

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60

From SNL and The Tonight Show to Sotheby’s:  NFT Creator Bryan Brinkman

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61

Bitcoin on-chain data highlights the steps BTC is taking to exit the bear market

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62

Ethereum on-chain data forecasts the withdrawal of 1.4M ETH over the next few days

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63

Bitcoin price spikes above $31K as Ethereum gains spark ‘altseason’ calls

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64

Can Ethereum crack $2K? ETH price inches closer despite new unlocked supply

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65

What Bitcoin bear market? BTC price closely copying old halving cycles

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66

Ronin (RON) bags a 500% gain as the gaming-focused project approaches a major upgrade

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67

3 signs Arbitrum price is poised for a new record high in Q2

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68

Bitcoin derivatives data shows bulls positioning for further BTC price upside

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69

Bitcoin glory on Chinese TikTok, 30M mainland users, Justin Sun saga: Asia Express

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70

BTC price targets see $33K next as Bitcoin eyes key resistance flip

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71

Ethereum price metrics hint that ETH might not sell-off after the Shapella hard fork

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72

Bitcoin price sets up for an explosive move as ADA, XLM, AAVE and CFX turn bullish

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73

‘Pop or drop?’ Bitcoin analysts decide if BTC price will beat $30K

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74

Bitcoin whales push ‘choreographed’ BTC price as Ether nears $2K

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75

NFT Creator, The Sarah Show: Analog childhood meets dizzying digital future

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76

Bitcoin rests at $28K as US jobs data boosts new Fed rate hike bets

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77

BTC white paper hidden on macOS, Binance loses AUS license and DOGE news: Hodler’s Digest, April 2-8

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78

XRP price eyes 30% upside after key resistance area breaks

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79

3 key Ethereum price metrics cast doubt on the strength of ETH’s recent rally

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80

Bitcoin traders expect ‘big move’ next as BTC price flatlines at $28K

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81

Bitcoin ‘faces headwinds’ as US money supply drops most since 1950s

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82

Ethereum price turns bullish ahead of next week’s Shanghai and Capella upgrades

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83

Arbitrum FUD spooks the market, but on-chain data shows whales accumulating ARB

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84

Zhu Su’s exchange did $13.64 in volume akshually, Huobi in crisis: Asia Express

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85

Crypto security audits and bug bounties are broken: Here’s how to fix them

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86

Trader Joe joins top 5 DEX list as Liquidity Book model thrives on Arbitrum

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87

Crypto market momentum stalls as traders await the results of recent regulatory actions

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88

Bitcoin price turns $28K to support, opening the door for ETH, MATIC, HBAR and EOS to breakout

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89

Binance-CFTC FUD puts BNB price at risk of dropping toward $200

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90

XRP price: 'sell the news' moment nears after crypto-leading 20% weekly gain

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91

XRP price tags 10-month high — Can a 35% pullback be avoided?

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92

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

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93

Why did 12K Bitcoin margin longs close at Bitfinex, and why didn’t it impact BTC price?

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94

Analysts debate the ETH price outcomes of Ethereum’s upcoming Shapella upgrade

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95

Bitcoin price holds its ground in the wake of CFTC case against Binance

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96

Bitcoin spikes above $29K as ‘fakeout’ fuels BTC price strength doubts

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97

ARB price to $2? Ethereum L2 rival Arbitrum will double in April, fractal suggests

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98

Elon Musk slams ‘heavy-handed’ Fed as ex-BitMEX CEO sees $1M BTC price

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99

Crypto market rally stalls at the $1.2T level, but bulls are getting positioned

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100

Bitcoin price will hit this key level before $30K, survey says

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101

Why is Cardano price up today?

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102

Bitcoin erases Fed losses as traders eye $40K BTC price target

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103

Bitcoin is 1 week away from 'confirming' new bull market — analyst

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104

Bitcoin liquidations vanish as trader hopes $30K will hit before dip

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105

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

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106

Arbitrum’s ARB token signifies the start of airdrop season — Here are 5 to look out for

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107

Bitcoin bulls remain bullish, but macro and crypto-specific hurdles have BTC pinned below $30K

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108

Ethereum price at $1.4K was a bargain, and a rally toward $2K looks like the next step

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109

Bitcoin rejects at $25K as US PPI data meets Credit Suisse meltdown

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110

Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop

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111

Investors shelter in short-term Treasurys, reducing Bitcoin’s chance of rallying to $30K

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112

Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

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113

Bitcoin levels to watch as BTC price eyes highest weekly close in 9 months

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114

Bitcoin price hits $27K in new 9-month high as Fed injects $300B

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115

Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B

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116

Ethereum price reaches lowest level relative to Bitcoin in 5 months

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117

Bitcoin dominance nears 50% as research hails ‘bullish’ narrative flip

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118

4 signs the Bitcoin price rally could top out at $26K for now

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119

Lark Davis on fighting social media storms, and why he’s an ETH bull: Hall of Flame

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120

Why is Ethereum (ETH) price down today?

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121

US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst calls SVB dip ‘bear trap’

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122

Dogecoin hits 4-month lows vs. Bitcoin — 50% DOGE price rebound now in play

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123

Bitcoin price spikes to ‘$26K’ in USDC terms — How high can the BTC short squeeze go?

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124

Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

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125

Why is XRP price up today?

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126

Why is Ethereum (ETH) price up today?

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127

Bitcoin battles $20K as trader calls bank chaos ‘2008 all over again’

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128

Cathie Wood’s ARK ignores Silvergate, buys Coinbase stock for 6th straight month

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129

Ethereum price action and derivatives data confirm bears are currently in control

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130

$920B is the number to watch now that crypto’s trillion-dollar total market cap is gone

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131

Warning sign for ETH price? Ethereum volume profile is down 90% since March 2020

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132

Bitcoin keeps liquidating longs as BTC price action gives up $22K support

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133

Bitcoin price levels to watch as trader says ‘lights out’ below $21.6K

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134

Bitcoin price would retest $25K without Silvergate saga — analysis

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135

Bitcoin price faces ‘last stand’ as weekly close threatens $22K retest

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136

Ethereum eyes 25% correction in March, but ETH price bulls have a silver lining

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137

Bitcoin price stumbles amid investors’ aversion to risk assets, but there is a silver lining

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138

Ethereum price resistance at $1,750 could reflect traders’ anxiety over the Shanghai upgrade

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139

Fears over Silvergate, $8B hole at FTX, senators seek Binance’s numbers: Hodler’s Digest, Feb. 26 – March 4

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140

$3M OKX airdrop, 1-hour due diligence on 3AC, Binance AI — Asia Express

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141

Bitcoin’s least volatile month ever? BTC price ends February up 0.03%

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142

Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally

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143

Bitcoin ‘millionaires’ increased 140% as BTC price crossed $20K — data

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144

Here’s why STX, CFX, SSV, AGIX and GRT are the top performing assets in February

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145

Bitcoin may only need 4 weeks to hit $30K as key monthly close looms

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146

SBF’s new charges, Shapella’s fork date and emojis as financial advice: Hodler’s Digest, Feb. 19-25

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147

THETA, LIDO, KLAY and EGLD flash bullish signs as Bitcoin recaptures $23K

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148

Bitcoin price eyes $24K retest as US dollar dives into monthly close

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149

BTC whale population shrinks to early 2020 levels — 5 things to know in Bitcoin this week

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150

How Fantom and Optimism’s DeFi and DApp development directly affects FTM and OP price action

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151

Bitcoin price tumbles to 10-day lows as ‘Notorious B.I.D.’ keeps support at $22.5K

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152

Bitcoin price stays under $24K as PCE data helps US dollar to near 7-week highs

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153

Bitcoin regains $25K amid hope record China easing will boost BTC price

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154

Why is Bitcoin price down today?

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155

Ethereum derivatives data suggests $1,700 might not remain a resistance level for long

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156

Bitcoin sees fresh $25K rejection as pre-Wall Street volatility returns

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157

'Stupid money' Ether investor loses over $2M in six months — 3 lessons to learn

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158

Bitcoin price continues to fall, but derivatives data hints at a short-term rally to $25K

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159

Bitcoin bears attempt to pin BTC price under $23K ahead of this month’s options expiry

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160

A ‘snap back’ to $20K? 5 things to know in Bitcoin this week

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161

Bitcoin must leverage $1T central bank liquidity to beat sellers — Research

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162

Bitcoin can hit $40K before BTC price sees ‘harsh correction’ — Analyst

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163

Bitcoin Lightning Network growth is organic, coming from real-world adoption

  • Markets
164

Bitcoin bulls aim to hold this week’s BTC gains leading into Friday’s $675M options expiry

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165

Bitcoin metric prints ‘mother of all BTC bullish signals’ for 4th time ever

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166

China’s only public blockchain, Conflux, sees CFX price skyrocket 1,300% in 2023

  • Markets
167

Polygon ecosystem development and upcoming zkEVM launch add to MATIC’s bullish momentum

  • Markets
168

BTC price cools on latest US data as Bitcoin liquidates $80M in shorts

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169

Bitcoin levels to watch as BTC price rejects at key $25K trendline

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170

First weekly death cross ever — 5 things to know in Bitcoin this week

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171

Bitcoin eyeing ‘next big move’ which could see $19K retest — analyst

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172

ApeCoin leads in NFT and metaverse market share, but are APE’s hefty staking rewards sustainable?

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173

Bitcoin flirts with bid liquidity as BTC price nears new 3-week lows

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174

Ethereum price prints ‘death cross’ after losing 13% versus Bitcoin from 2023 peak

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175

Bitcoin price derivatives look a bit overheated, but data suggests bears are outnumbered

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176

Bitcoin price rally to $25K followed by total crypto market cap retest of the $1.13T resistance

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177

NFT marketplace tokens soar in 2023, and Blurs recent airdrop may extend the trend

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178

Bitcoin price targets range from $19K to $25K as CPI day dawns

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179

Bitcoin bulls aim to hold this weeks BTC gains leading into Fridays $675M options expiry

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180

Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals

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181

MATIC, HBAR, LDO and BIT gather strength as Bitcoin price rebounds

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182

Bitcoiner Simon Dixon on bankruptcies and Elon Musk: Hall of Flame

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183

3 reasons why Binances BNB token risks sliding further by March

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184

Ethereum on-chain data suggests ETH sell pressure could be a non-event after the Shanghai upgrade

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185

SEC enforcement action creates a silver lining for GMX, Lido (LDO) and Maker (MKR) price

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186

Ethereums $1.5K support weakens as ETH traders turn slightly bearish

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187

Bitcoin price eyes $22K rebound with BTC market structure not yet broken

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188

Bitcoin price clings to $22K as investors digest the recent SEC actions and CPI report

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189

Why is Bitcoin price up today?

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190

Krakens staking down, FTX post-bankruptcy hell and Binance news: Hodlers Digest, Feb. 5-11

  • Markets
  • Bitcoin

Adoption and nerves — Crypto pumps amid banking crisis

2 months ago2 months ago13 mins

On March 19, the United States Federal Reserve announced that it had entered a joint program with several major central banks — including the European Central Bank, the Bank of Canada, the Bank of England, the Bank of Japan and the Swiss National Bank — to support U.S. dollar cash flow and alleviate strains in global funding markets. 

Moreover, Fed Chair Jerome Powell said swap lines — agreements between two or more central banks to maintain a crucial liquidity backstop and ease strains in global funding markets — will remain active until at least the end of April.

This could result in the Federal Reserve slowing its rate hikes, which have been cited as a contributing factor to the ongoing banking crisis.

Since the beginning of March 2023, several major financial entities, including Silvergate Bank, Silicon Valley Bank (SVB), Signature Bank and Credit Suisse, have collapsed.

Despite these developments, Bitcoin (BTC) has rallied, reaching a high of $28,500 on March 24, its highest level since the crypto crash of June 2022. After a slump in March, where the flagship cryptocurrency dropped below $20,000, Bitcoin seems to have resumed its 2023 rally.

Since January, when Bitcoin traded at around $16,500, the digital asset has gained an impressive 72.73%. Of the roughly 4,600 days of Bitcoin as a tradable asset, investors have experienced 4,065 profitable days, challenging the instability-driven narrative surrounding the crypto ecosystem.

The banking crisis explained

In recent weeks, the global banking industry has been rocked by a slew of events, sending shockwaves through financial markets. In Europe, Credit Suisse collapsed and had to be “rescued” by rival bank UBS.

This development did not surprise those following Credit Suisse’s monetary and legal troubles, which have been widely reported for months.

The Swiss National Bank and the Swiss Financial Market Supervisory Authority agreed to back up Credit Suisse with an emergency loan of 50 billion francs ($54.5 billion) if necessary. UBS agreed to purchase Credit Suisse for $3.25 billion, which is less than half its market value just days before, but much higher than the initial offer of $1 billion, which Credit Suisse declined.

Meanwhile, the United States faces its own banking crisis across the Atlantic. Several banks, including SVB, Signature Bank and Silvergate Bank, have collapsed recently, prompting the Federal Reserve and the government to shore up depositors. The banks mentioned above all faced large-scale bank runs. These events typically occur when a bank loses the confidence of its customers, resulting in mass withdrawal requests.

Recent: Justin Sun vs. SEC, Do Kwon arrested, 180M player game taps Polygon: Asia Express

In response to these developments, the Fed has used the Bank Term Funding Program (BTFP) to inject additional liquidity into the banking system and cover deposits, with politicians reassuring the public that the banking system is secure. While these actions have attempted to restore confidence in the banking system and financial markets, some analysts warn they may only provide a short-term solution.

A recent study has shown that the U.S. banking system is highly vulnerable, with many banks potentially becoming technically insolvent during a bank run. Assuming the worst-case scenario of 100% uninsured deposits withdrawn, the study’s authors note that over 1,600 U.S. banks could collapse overnight. What’s even more head-scratching is the researchers suggest that even if just 30% of uninsured deposits were to be withdrawn, 106 banks would collapse.

The numbers seem to be in favor of crypto

Bitcoin has been on a roll, gaining more than 13% over the past week and trading at $28,430 at the time of writing. The troubles facing the traditional banking system have raised concerns about trust in traditional assets, with more money seeming to flow into Bitcoin. According to data from Coinglass, open interest in Bitcoin futures reached $12 billion over the weekend, a yearly high pointing to renewed interest in the flagship cryptocurrency.

Bitcoin futures open interest. Source: Coinglass

Bitcoin open interest refers to the total number of outstanding positions in Bitcoin futures contracts that have not been closed or settled. It is a measure of market activity and interest in Bitcoin futures trading. When open interest is high, it suggests a lot of investor interest in BTC and vice versa.

Meanwhile, most altcoins are also experiencing a pump, with most of the top ten cryptocurrencies by market cap — XRP (XRP), Cardano (ADA), Ether (ETH), Solana (SOL) and Litecoin (LTC) — posting gains of 5–20% in the past week.

The renewed interest in crypto comes amid growing concerns over inflation, increasing global debt levels, and the unprecedented monetary and fiscal policies adopted by central banks and governments worldwide.

What lies ahead for crypto?

With the ongoing fiscal momentum surrounding the crypto sector showing no signs of abating, $30,000 has continued to serve as a significant hurdle for Bitcoin. However, if the digital asset approached or breached this level, many bulls could rake in short-term profits for themselves, potentially causing the cryptocurrency to dip again.

In an interview with Barron’s, Alex Thorn, head of research at digital asset group Galaxy, said we could be witnessing a seminal moment for Bitcoin. He believes that as the fractionally reserved banking system teeters on the brink, “Bitcoin’s resilience, predictability, and relative safety stands in stark relief.”

Moreover, the Crypto Fear & Greed Index hit its highest index score this year, recording 66 on March 20. These levels have not been seen since Bitcoin posted its all-time high in November 2021. As of March 24, the index is sitting on a rating of 61, placing it firmly in the “Greed” territory.

The Crypto Fear & Greed Index. Source: Alternative.me

The Crypto Fear and Greed Index aims to numerically present the current “emotions and sentiments” toward Bitcoin and the cryptocurrency market, with the highest score being 100. The last time the index recorded a score above 66 was on Nov. 16, 2021, just days after Bitcoin’s all-time high of $69,000.

Chris Bradbury, CEO of decentralized finance platform Oasis.app and former lead product manager for MakerDAO, told Cointelegraph the latest rally is related to banking collapses and the broader fear in the U.S. and European banking sector, which saw vast amounts of value wiped out of bank stocks. He added:

“It’s unlikely we will see a sustained rally directly from this; however, we have started to see activity on-chain picking back up since the start of the year and a little bit more optimism more generally in the markets.”

Other observers of the crypto space think the recent pump is explained by factors that are less generous to the hypothesis of crypto as a safe haven and alternative to the traditional financial system.

Crypto researcher and software engineer Molly White recently noted that, among other things, Bitcoin is experiencing low liquidity and could also serve as an exit for traders nervous about stablecoins. As USD Coin (USDC)-to-dollar off-ramps were limited early in the banking crisis, many decided to move to different crypto assets like Bitcoin, White argued.

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She further stated that influential people stand to benefit from an increased Bitcoin price. Ex-Coinbase chief technology officer Balaji Srinivasan made a $2 million bet that Bitcoin will hit $1 million in the next 90 days based on a belief that incoming liquidity from the Fed will “hyperinflate the dollar.”

As White posited, “If he owns a lot of Bitcoin already, or has OTM [out of the money] long positions, $3 million (counting the two bets plus the $1 million in tweet payments) would be a small price to pay if he can get BTC to tick up a few percentage points.”

As we head into a future plagued by growing financial uncertainty, it will be interesting to observe how the crypto market wades through the macroeconomic uncertainty permeating the global economy.

Tagged: adoption amid and banking Bitcoin Country crisis crypto nerves pumps

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Researchers propose new scheme to help courts test deanonymized blockchain data
A team of researchers from Friedrich-Alexander-Universität Erlangen-Nürnberg recently published a paper detailing methods investigators and courts can use to determine the validity of deanonymized data on the Bitcoin (BTC) blockchain. The team’s preprint paper, “Argumentation Schemes for Blockchain Deanonymization,” lays out a blueprint for conducting, verifying and presenting investigations into crimes involving cryptocurrency transactions. While the...
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