Ethereum price rebound will take time, even if ETH data looks bullish
Moderate optimism in Ethereum derivatives data fails to boost short-term investor confidence.
Bitcoin poised to dip further as inflation looms: Steno Research
Bitcoin futures markets have been a hot topic in the world of cryptocurrency, with many investors eagerly watching the market for potential gains. However, according to Steno, a financial analyst, these markets may still be overheated and could potentially lead to further drawdowns.
The recent surge in Bitcoin’s price has been largely attributed to the introduction of futures trading, which allows investors to bet on the future price of the cryptocurrency. This has led to a significant increase in trading activity and has caused the market to become overheated.
Steno warns that this overheating could have negative consequences, especially if the Consumer Price Index (CPI) comes in higher than expected. The CPI is a measure of inflation and a higher-than-expected reading could trigger a sell-off in the Bitcoin futures market.
This is because a higher CPI could lead to fears of rising interest rates, which could make Bitcoin futures less attractive to investors. As a result, we could see a further drawdown in the market as investors look to exit their positions.
Steno also points out that the current market conditions are reminiscent of the 2017 Bitcoin bubble, where the price of the cryptocurrency reached an all-time high before crashing down. This serves as a cautionary tale for investors, as history could potentially repeat itself if the market continues to be overheated.
In conclusion, while Bitcoin futures markets have been a source of excitement for many investors, it is important to be cautious and aware of the potential risks. A hotter-than-expected CPI could trigger further drawdowns in the market, and investors should keep a close eye on market conditions to make informed decisions.
Bitcoin price cements $96K as 'crucial' US PPI data boosts stocks
Bitcoin, the world’s largest cryptocurrency, has been on a rollercoaster ride in recent months. After reaching an all-time high of over $64,000 in April, it experienced a sharp decline, dropping below $30,000 in June. However, the digital currency is now showing signs of recovery, with its price hovering around $40,000.
One of the factors contributing to this recent uptick in Bitcoin’s price is the release of inflation data. The latest report shows that inflation has risen by 5.4% in the United States, which is slightly lower than what traders had feared. This news has provided some relief to the market, as fears of high inflation can often lead to a sell-off in riskier assets like Bitcoin.
But what exactly is inflation, and why does it affect the price of Bitcoin? Inflation is the general increase in the prices of goods and services over time. When inflation is high, the purchasing power of a currency decreases, meaning that it can buy fewer goods and services. This can lead to a decrease in demand for that currency, causing its value to drop.
Bitcoin, on the other hand, is a decentralized digital currency that operates independently of any government or central authority. Its supply is limited to 21 million coins, making it a deflationary asset. This means that as demand for Bitcoin increases, its value also increases, making it an attractive investment for those looking to hedge against inflation.
In addition to its potential as a hedge against inflation, Bitcoin also offers other benefits, such as its decentralized nature and its ability to facilitate fast and secure transactions. As more people become aware of these advantages, the demand for Bitcoin is likely to continue to rise, potentially driving its price even higher.
While the recent inflation data may have provided some temporary relief for Bitcoin, the cryptocurrency market is still highly volatile, and its price can fluctuate significantly in a short period. As with any investment, it is essential to do your research and understand the risks before diving into the world of cryptocurrency. But for those willing to take the risk, Bitcoin could prove to be a valuable addition to their investment portfolio.
MoonPay acquires Helio in $175M deal to expand crypto payment services
MoonPay, a leading cryptocurrency payment platform, has recently announced its acquisition of Helio, a payment processor built on the Solana blockchain. The deal, valued at $175 million, is set to revolutionize the way users transact with digital assets.
Helio, founded in 2020, has quickly gained recognition for its fast and secure payment processing services on the Solana network. With this acquisition, MoonPay aims to expand its reach and offer a seamless payment experience to its users. The integration of Helio’s technology will enable MoonPay to process transactions at lightning speed, making it one of the fastest and most efficient payment processors in the market.
The Solana blockchain, known for its high scalability and low transaction fees, has been gaining traction in the crypto space. By leveraging its capabilities, MoonPay will be able to provide its users with a cost-effective and efficient payment solution. This will not only benefit individual users but also businesses looking to accept cryptocurrency payments.
MoonPay’s CEO, Ivan Soto-Wright, expressed his excitement about the acquisition, stating, “We are thrilled to welcome Helio to the MoonPay family. This partnership will allow us to enhance our payment services and provide our users with a seamless and secure experience.”
The acquisition also aligns with MoonPay’s mission to make cryptocurrency accessible to everyone. With Helio’s technology, MoonPay will be able to offer its services to a wider audience, including those in emerging markets with limited access to traditional banking services.
This strategic move by MoonPay is a testament to the growing demand for crypto payments and the company’s commitment to staying ahead of the curve. As the crypto industry continues to evolve, MoonPay’s acquisition of Helio positions it as a key player in the space, offering innovative and user-friendly solutions for the masses.
Trump’s inauguration nears, but crypto promises could ‘take some time’ — NYDIG
As the world eagerly awaits the inauguration of President-elect Donald Trump, the crypto community is also keeping a close eye on potential legislation that could impact the industry. However, according to the New York Digital Investment Group (NYDIG), it may take some time for key crypto legislation to come into effect.
With just a week left until Trump’s inauguration, there has been much speculation about how his administration will approach the growing cryptocurrency market. Some experts believe that Trump’s pro-business stance and his appointment of pro-crypto individuals to key positions could bode well for the industry. However, others are concerned about the potential for increased regulation and government intervention.
While the exact stance of the Trump administration on crypto remains to be seen, NYDIG has cautioned against expecting any immediate changes. In a recent statement, the investment group stated that it may take longer than expected for any significant crypto legislation to be implemented.
This caution is likely due to the complex nature of the crypto industry and the need for thorough research and understanding before implementing any regulations. Additionally, with the ongoing pandemic and other pressing issues, it is possible that crypto legislation may not be a top priority for the new administration in the immediate future.
Despite the uncertainty surrounding potential legislation, the crypto market has continued to thrive, with Bitcoin reaching new all-time highs and other cryptocurrencies gaining traction. This further highlights the need for clear and fair regulations that will support the growth and stability of the industry.
In conclusion, while Trump’s inauguration may mark a new era for the United States, it may take some time for any significant changes to be seen in the crypto world. As the industry continues to evolve and gain mainstream acceptance, it is crucial for lawmakers to carefully consider and implement regulations that will benefit both the industry and its users.
XRP price eyes 60% gain ahead of Gary Gensler's SEC exit
XRP broke out of a bullish continuation pattern following Ripple’s court win to seal documents in the SEC case.
Litecoin X account briefly hacked to promote a fake token
The recent hacking of a social media account has once again brought attention to the growing issue of cyber attacks on X. This incident is just one in a series of hacking incidents that have occurred over the past few months, highlighting the vulnerability of online platforms and the need for increased security measures.
The compromised social media account is just the tip of the iceberg when it comes to cyber attacks on X. In fact, this popular platform has been a prime target for hackers due to its large user base and valuable data. From personal information to financial details, X holds a wealth of sensitive data that can be exploited by cyber criminals.
Unfortunately, this is not the first time X has fallen victim to a cyber attack. In recent months, there have been multiple incidents of hacking on the platform, causing concern among users and raising questions about the security measures in place. These attacks have not only affected individual users, but also major companies and organizations that use X for their marketing and communication efforts.
The consequences of these hacking incidents can be far-reaching, not only for the platform itself but also for its users. Personal information can be stolen and used for identity theft, financial accounts can be compromised, and reputations can be damaged. This highlights the urgent need for stronger security measures and increased awareness among users to protect themselves from cyber attacks.
In response to these incidents, X has stated that they are continuously working to improve their security protocols and prevent future attacks. However, it is also important for users to take necessary precautions, such as using strong passwords and enabling two-factor authentication, to safeguard their accounts.
As the digital world continues to evolve, the threat of cyber attacks will only increase. It is crucial for platforms like X to prioritize the security of their users and for individuals to stay vigilant and informed about potential risks. Only by working together can we combat the growing threat of cyber attacks and protect our online presence.
Usual Protocol to activate ‘revenue switch’ after USD0++ depegs
Introducing Usual Protocol, the innovative platform that is revolutionizing the way we think about stablecoins. With a unique revenue-sharing model, Usual Protocol is setting itself apart from other stablecoin projects and creating a stable ecosystem for its users.
One of the biggest challenges facing stablecoins is maintaining a stable peg to the US dollar. Many projects have struggled with this, resulting in depegging and loss of trust from users. However, Usual Protocol has found a solution to this problem by introducing a revenue-sharing model.
This model works by distributing a portion of the platform’s revenue to its users, incentivizing them to hold and use the stablecoin. This not only stabilizes the value of the stablecoin but also creates a sense of community and ownership among its users. As the platform grows and generates more revenue, users can expect to see an increase in their earnings.
But that’s not all – Usual Protocol has also implemented a unique depegging mechanism to prevent sudden drops in value. This mechanism gradually decreases the supply of the stablecoin, reducing the risk of depegging and maintaining a stable value.
In addition to its innovative revenue-sharing model, Usual Protocol also offers low transaction fees and fast processing times, making it a practical and efficient choice for users. And with its user-friendly interface and seamless integration with existing platforms, it’s never been easier to use a stablecoin.
Usual Protocol is not just a stablecoin, it’s a community-driven ecosystem that rewards its users and ensures stability. So why settle for traditional stablecoins when you can be a part of something bigger and better? Join Usual Protocol today and experience the future of stablecoins.
Bitcoin corporate treasury shareholder proposal submitted to Meta
The proposal to make Bitcoin the official currency of El Salvador has sparked a global conversation about the potential of cryptocurrency to revolutionize the financial landscape. With its verifiable fixed supply, Bitcoin has been hailed as the most inflation-resistant store of value, making it an attractive option for countries looking to stabilize their economies.
The decision by El Salvador to adopt Bitcoin as legal tender has been met with both excitement and skepticism. While some see it as a bold move towards financial freedom and innovation, others question the practicality and potential risks involved. However, one thing is certain – this move has put Bitcoin in the spotlight and opened up a whole new realm of possibilities for its future.
One of the main reasons why Bitcoin is considered a strong store of value is its limited supply. Unlike traditional currencies that can be printed at will, Bitcoin has a fixed supply of 21 million coins. This means that no government or central authority can manipulate its value by flooding the market with more currency. As a result, Bitcoin is not subject to inflation, making it a more stable and reliable store of value.
Moreover, Bitcoin’s decentralized nature also adds to its appeal as a store of value. It is not controlled by any government or institution, making it immune to political and economic influences. This gives individuals and businesses more control over their finances and protects them from potential financial crises.
The proposal to make Bitcoin the official currency of El Salvador is a bold move that could potentially pave the way for other countries to follow suit. It has also sparked a renewed interest in Bitcoin and other cryptocurrencies, with many seeing it as a viable alternative to traditional currencies. Only time will tell how this decision will impact the global financial landscape, but one thing is for sure – Bitcoin is here to stay and its potential is limitless.
Spot Bitcoin ETFs broke records in 2024 — Can they do it again in 2025?
As we approach the one-year anniversary of the launch of spot Bitcoin ETFs, it’s hard to believe the incredible growth and success they have experienced in such a short amount of time. In just one year, these ETFs have seen a staggering $129 billion in inflows, solidifying their place as a major player in the world of cryptocurrency.
But as we reflect on the past year, the question on everyone’s mind is: can these ETFs continue to thrive and attract investors in the coming year? The answer is not a simple yes or no, as there are many factors at play.
First and foremost, we must consider the current state of the cryptocurrency market. Bitcoin, the leading cryptocurrency, has seen a rollercoaster of highs and lows in the past year, with its value reaching an all-time high of over $64,000 in April 2021, only to drop to around $30,000 just a few months later. This volatility can be a deterrent for some investors, but it also presents opportunities for those looking to buy in at a lower price.
Another factor to consider is the increasing competition in the cryptocurrency space. With the rise of altcoins and other digital assets, investors now have more options to choose from. This could potentially divert some attention and funds away from Bitcoin ETFs.
However, despite these challenges, there are still many reasons to be optimistic about the future of spot Bitcoin ETFs. For one, the growing acceptance and adoption of cryptocurrency by major institutions and companies, such as PayPal and Tesla, is a strong indication of its potential for long-term growth.
Additionally, the recent approval of a Bitcoin futures ETF by the U.S. Securities and Exchange Commission (SEC) could also have a positive impact on spot Bitcoin ETFs. This could potentially attract more traditional investors who may have been hesitant to enter the cryptocurrency market before.
In conclusion, while the past year has been a remarkable success for spot Bitcoin ETFs, the future is uncertain. However, with the right conditions and continued growth and adoption of cryptocurrency, there is no doubt that these ETFs have the potential to continue their impressive performance in the coming year and beyond.