Bitcoin hinges on $93K support, risks $1.3B liquidation on trade war concerns
As the world continues to grapple with the ongoing COVID-19 pandemic, another major concern has emerged in the form of a global trade war. This has caused a ripple effect in the financial markets, with many investors and analysts keeping a close eye on the potential impact on various assets, including Bitcoin.
According to experts, the current trade war tensions could potentially put pressure on Bitcoin’s price, causing it to drop below the key support level of $93,000 in the short term. This news comes as no surprise to those who have been closely following the cryptocurrency market, as Bitcoin has been experiencing a period of volatility in recent weeks.
The trade war concerns stem from the ongoing tensions between the United States and China, two of the world’s largest economies. The two countries have been engaged in a trade dispute for several years, with both sides imposing tariffs on each other’s goods. This has led to a decrease in global trade and has had a significant impact on the global economy.
As a result, investors are turning to safe-haven assets like Bitcoin to protect their wealth from the potential fallout of a trade war. However, with the cryptocurrency market being highly volatile, there is no guarantee that Bitcoin will continue to hold its value in the face of these tensions.
Some analysts believe that if the trade war escalates further, it could lead to a significant drop in Bitcoin’s price. This is due to the fact that many investors may choose to sell their Bitcoin holdings in order to mitigate their losses in other areas of their portfolio.
In conclusion, while Bitcoin has been on a positive trajectory in recent months, the current global trade war concerns may put pressure on its price in the short term. As always, it is important for investors to closely monitor the market and make informed decisions based on their risk tolerance and long-term investment goals.
Onchain real-world assets gain traction amid Bitcoin market uncertainty
As the price of Bitcoin continues to fluctuate, many investors are looking for alternative ways to diversify their portfolios and mitigate risk. One emerging trend in the crypto space is the rise of onchain Real World Assets (RWAs), which are digital representations of real-world assets such as real estate, commodities, and even art.
These onchain RWAs are gaining traction as investors seek out more stable and tangible assets in the volatile world of cryptocurrency. With the recent market downturn, many are turning to these assets as a way to hedge against market fluctuations and protect their investments.
Market commentators are predicting that the total value locked (TVL) in onchain RWAs could reach $50 billion by 2025, a significant increase from the current TVL of around $2 billion. This growth is being driven by increasing demand from both retail and institutional investors who are looking for ways to diversify their portfolios and gain exposure to traditional assets through the use of blockchain technology.
One of the main advantages of onchain RWAs is their transparency and security. By utilizing blockchain technology, these assets are able to provide a verifiable and immutable record of ownership, making them less susceptible to fraud and manipulation. This level of transparency is especially appealing to institutional investors who are often hesitant to enter the crypto market due to concerns about security and regulation.
In addition to their potential for growth and stability, onchain RWAs also offer investors the opportunity to participate in the ownership and profits of real-world assets that were previously inaccessible to them. This democratization of asset ownership is a key factor in the increasing demand for onchain RWAs.
As the crypto market continues to evolve and mature, onchain RWAs are poised to play a significant role in the future of finance. With their potential for growth, stability, and accessibility, it’s no wonder that market commentators are predicting a bright future for these digital assets.
Kanye West claims to have rejected $2M offer to promote crypto scam
Kanye West, also known as Ye, recently revealed that he turned down a lucrative offer of $2 million to promote a cryptocurrency scam. The scam involved posting a fraudulent promotion on his social media accounts and then claiming that his account was hacked.
In the world of cryptocurrency, scams are unfortunately all too common. With the rise in popularity of digital currencies, scammers are constantly looking for ways to take advantage of unsuspecting individuals. And celebrities, with their large followings and influence, are often targeted to promote these scams.
But Kanye West, known for his bold and controversial statements, refused to be a part of this deceitful scheme. In an interview, he shared that he was approached with a tempting offer of $2 million to promote a cryptocurrency project. However, upon learning that it was a scam, he immediately declined the offer.
The scam involved posting a fake promotion on his social media accounts, claiming that he had invested in the project and encouraging his followers to do the same. The scammers would then use this endorsement to lure people into investing in their fraudulent scheme. But Kanye, being a man of integrity, refused to be a part of such dishonesty.
In the past, Kanye has been vocal about his interest in cryptocurrency and even mentioned that he owns some Bitcoin. However, he has also warned his followers to be cautious and not fall for scams in the crypto world. And by rejecting this offer, he has once again shown that he stands by his words and values.
Kanye’s decision to turn down the $2 million offer is commendable and serves as a reminder to always be vigilant when it comes to investing in cryptocurrency. It’s important to do thorough research and not blindly trust endorsements, especially from celebrities. As for Kanye, he continues to make headlines, not just for his music and fashion, but also for his integrity and principles.
There is a 'massive disconnect' between retail and pros in crypto: Bitwise CIO
According to Matt Hougan, the Chief Investment Officer at Bitwise Asset Management, the current sentiment among retail investors in the cryptocurrency market is at its lowest point in years. This comes as the Crypto Fear and Greed Index, a popular indicator of market sentiment, has dropped to a “Fear” score of 44.
Hougan’s statement highlights the growing concerns and uncertainties surrounding the crypto market, as investors grapple with the recent volatility and price fluctuations. The index, which measures emotions and sentiments from various sources such as social media, market volatility, and surveys, has been steadily declining in recent weeks.
This decline in sentiment can be attributed to a combination of factors, including the ongoing regulatory crackdown on cryptocurrencies, the increasing competition from traditional financial institutions, and the overall market correction after the recent bull run. These factors have created a sense of fear and uncertainty among retail investors, leading to a decrease in confidence and a more cautious approach towards crypto investments.
However, despite the current negative sentiment, Hougan remains optimistic about the long-term prospects of the crypto market. He believes that the recent pullback is a healthy correction and a necessary step towards the maturation of the market. He also points out that institutional interest in cryptocurrencies continues to grow, with more and more traditional financial institutions and corporations investing in digital assets.
In conclusion, while the current retail sentiment towards cryptocurrencies may be at its lowest in years, it is important to remember that the market is still in its early stages and is constantly evolving. As with any emerging asset class, there will be ups and downs, but the overall trend towards mainstream adoption and acceptance of cryptocurrencies remains strong.
Florida Sen. Gruters proposes Bitcoin investment bill for state funds
Florida Senator Joe Gruters believes that the state of Florida should have access to tools such as Bitcoin in order to protect against inflation. In a recent statement, Gruters argued that the use of cryptocurrency could provide a safeguard against the devaluation of traditional currencies.
Gruters’ stance on Bitcoin is not surprising, as the digital currency has gained significant attention and adoption in recent years. With its decentralized nature and limited supply, Bitcoin has been touted as a potential hedge against inflation and economic instability.
The Senator’s comments come at a time when the US government has been pumping trillions of dollars into the economy in response to the COVID-19 pandemic. This influx of money has raised concerns about the potential for inflation and the devaluation of the US dollar.
Gruters believes that by embracing Bitcoin, Florida could protect its citizens and economy from the negative effects of inflation. He also sees the potential for the state to attract new businesses and investment by positioning itself as a cryptocurrency-friendly state.
While some may view Gruters’ stance as controversial, others see it as a forward-thinking approach to financial management. As more and more individuals and institutions begin to adopt Bitcoin, it is becoming increasingly clear that it is here to stay.
In addition to its potential as a hedge against inflation, Bitcoin also offers benefits such as fast and secure transactions, low fees, and global accessibility. These features make it an attractive option for individuals and businesses alike.
Gruters’ call for Florida to embrace Bitcoin is just one example of the growing acceptance and adoption of cryptocurrency. As the world continues to evolve and adapt to new technologies, it is likely that we will see more and more governments and institutions turning to Bitcoin and other cryptocurrencies as a means of financial protection and growth.
New agent launches on Virtuals plummet amid AI token drawdown
The Base platform, known for its innovative AI engine, has been a hub for popular agents since its inception. However, recent data shows a significant decrease in new agent debuts on the platform. This decline has raised questions about the future of Base and its role in the AI industry.
The AI engine on Base has been a game-changer for many businesses and individuals looking to incorporate artificial intelligence into their operations. With a wide range of popular agents available, the platform has been a go-to for those seeking cutting-edge technology and solutions. However, the recent decline in new agent debuts has caused concern among users and industry experts alike.
One possible explanation for this decline could be the increasing competition in the AI market. As more and more companies enter the industry, the market has become saturated, making it challenging for new agents to stand out and gain traction. This could also be a result of the high standards set by existing agents on the platform, making it difficult for new ones to meet the expectations of users.
Another factor that could be contributing to the decline is the rapid advancement of AI technology. With new developments and breakthroughs happening at a rapid pace, agents that were once considered cutting-edge may now be outdated. This could be deterring developers from creating new agents for the Base platform, as they may feel that their creations will quickly become obsolete.
Despite the decline in new agent debuts, Base remains a leading platform for AI technology. Its existing agents continue to provide valuable solutions for businesses and individuals, and the platform continues to attract users. However, it will be interesting to see how Base adapts to the changing landscape of the AI industry and whether it can regain its position as a top destination for new agent debuts.
SafeMoon CEO asks to push trial based on Trump SEC’s ‘policy changes’
Braden John Karony, a man facing a securities fraud charge, has recently made headlines for his request to delay his trial. The reason behind this request? The potential impact of Donald Trump’s proposed crypto policies on related laws.
Karony, who is accused of defrauding investors through a cryptocurrency investment scheme, has asked for more time to prepare for his trial in light of the uncertainty surrounding the future of crypto regulations under the Trump administration. This move has sparked discussions about the potential implications of Trump’s stance on cryptocurrency and its impact on the legal landscape.
The defendant’s lawyer argued that the proposed policies could significantly impact the case and the outcome of the trial. With the rapid growth of the cryptocurrency market and the lack of clear regulations, the defense team believes that it is crucial to have a better understanding of the government’s stance on crypto before proceeding with the trial.
Trump’s views on cryptocurrency have been a topic of debate since he took office. While some believe that his administration’s policies could bring much-needed clarity and stability to the market, others fear that it could stifle innovation and hinder the growth of the industry.
The delay in Karony’s trial highlights the need for a comprehensive and well-defined regulatory framework for cryptocurrencies. As the market continues to expand and attract more investors, it is essential to have clear guidelines in place to protect both consumers and businesses.
The outcome of this case could have significant implications for the future of crypto regulations in the United States. It remains to be seen how the Trump administration will approach this issue and what impact it will have on the industry. In the meantime, Karony’s trial has been postponed, and the crypto community eagerly awaits further developments.
Tornado Cash developer Alexey Pertsev leaves prison custody
The Tornado Cash case has been making waves in the crypto community and among privacy advocates around the world. At the center of this highly publicized legal battle is Alexey Pertsev, a key figure in the development and operation of Tornado Cash, a popular decentralized privacy tool for Ethereum transactions.
For those unfamiliar with Tornado Cash, it is a decentralized mixer that allows users to make anonymous transactions on the Ethereum blockchain. This means that users can send and receive ETH and ERC-20 tokens without revealing their identities or transaction details. This has made Tornado Cash a popular choice for those seeking to maintain their privacy and anonymity in the crypto space.
However, Pertsev’s involvement with Tornado Cash has landed him in hot water with the authorities. He was recently arrested by Russian law enforcement and charged with creating and distributing a tool for money laundering. This has sparked outrage among the crypto community and privacy advocates, who see this as a blatant attack on personal freedoms and the right to privacy.
Pertsev’s legal battle has also raised questions about the legality of decentralized privacy tools and their role in the crypto ecosystem. While Tornado Cash and other similar tools are designed to protect user privacy, they can also be used for illicit activities. This has led to debates about the responsibility of developers and the potential consequences they may face for creating such tools.
Despite the ongoing legal battle, Tornado Cash continues to operate and has even seen a surge in usage since Pertsev’s arrest. This highlights the demand for privacy in the crypto space and the resilience of decentralized technologies.
The outcome of Pertsev’s case could have far-reaching implications for the future of privacy tools and the crypto industry as a whole. It is a case that is being closely watched by many, and its resolution will undoubtedly have a significant impact on the development and adoption of decentralized privacy solutions.