Moquete
@Moquete
Apasionado por la innovación, la geopolítica y la independencia financiera. Comprometido con la investigación continua y la educación sobre criptomonedas.
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Hello everyone, Happy Holidays! 🎉
Share your good wishes this season. If you are interested, you can send me a gift, and I will gladly return one to you as well. 😊
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My ID: 130052512 for CAMPAIGN, let's do this before the end of the year, I will return!! #NEW
FOR THOSE WHO DON'T KNOW HOW TO PARTICIPATE, you need to go to Binance Pay and click on Campaign
Comment your IDs below!
Share your good wishes this season. If you are interested, you can send me a gift, and I will gladly return one to you as well. 😊
—————————————————————————————
My ID: 130052512 for CAMPAIGN, let's do this before the end of the year, I will return!! #NEW
FOR THOSE WHO DON'T KNOW HOW TO PARTICIPATE, you need to go to Binance Pay and click on Campaign
Comment your IDs below!
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🔥Russia bans Bitcoin mining in 10 regions🔥
The corresponding restriction will be in force until 2031. A complete ban will affect the regions of the North Caucasus Federal District and new territories. Partial restrictions will apply in the Irkutsk region, Buryatia and the Trans-Baikal Territory. The aim of the restrictive measures is to maintain the balance of energy consumption.
This was reported to Russian Spring by the press service of State Duma deputy Anton Nemkin.
The Cabinet of Ministers approved a list of regions and territories in which a complete or partial restriction on cryptocurrency mining will be applied from January 1, 2025 to March 15, 2031. TASS reports this.
The government is introducing a "ban on digital currency mining, including participation in a mining pool (miners' association - approx.)" in the People's Republics of Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, Donetsk and Luhansk, in the Zaporozhye and Kherson regions, the resolution says.
In addition, during periods of increased energy consumption, mining will be banned in some territories of the Irkutsk region, Buryatia and the Trans-Baikal Territory. In 2025, the restriction will be in effect from January 1 to March 15, and subsequently from November 15 to March 15.
However, the list of regions and territories is not final, the Cabinet of Ministers told TASS. It may be adjusted based on the results of decisions by the government commission for the development of the electric industry. It should be noted that the task of the established restrictions is to maintain a balance in energy consumption taking into account the needs of the industry.
According to estimates by the Industrial Mining Association, in 2023 Russia will take second place in the world in cryptocurrency mining.
The corresponding restriction will be in force until 2031. A complete ban will affect the regions of the North Caucasus Federal District and new territories. Partial restrictions will apply in the Irkutsk region, Buryatia and the Trans-Baikal Territory. The aim of the restrictive measures is to maintain the balance of energy consumption.
This was reported to Russian Spring by the press service of State Duma deputy Anton Nemkin.
The Cabinet of Ministers approved a list of regions and territories in which a complete or partial restriction on cryptocurrency mining will be applied from January 1, 2025 to March 15, 2031. TASS reports this.
The government is introducing a "ban on digital currency mining, including participation in a mining pool (miners' association - approx.)" in the People's Republics of Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, Donetsk and Luhansk, in the Zaporozhye and Kherson regions, the resolution says.
In addition, during periods of increased energy consumption, mining will be banned in some territories of the Irkutsk region, Buryatia and the Trans-Baikal Territory. In 2025, the restriction will be in effect from January 1 to March 15, and subsequently from November 15 to March 15.
However, the list of regions and territories is not final, the Cabinet of Ministers told TASS. It may be adjusted based on the results of decisions by the government commission for the development of the electric industry. It should be noted that the task of the established restrictions is to maintain a balance in energy consumption taking into account the needs of the industry.
According to estimates by the Industrial Mining Association, in 2023 Russia will take second place in the world in cryptocurrency mining.
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💥OFFICIAL: Russia will start using#Bitcoinand#Cryptoas a means of payment for international trade starting next week👀‼️ $BTC
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Ethereum ‘is dying while L2 dances on its grave,’ claims investment firm CEO
In a pointed statement on X, Justin Bons, founder and chief investment officer of Cyber Capital, one of Europe’s oldest cryptocurrency funds, expressed a critical view of Ethereum’s current trajectory, stating that “Ethereum is dying while L2 dances on its grave.” Bons argues that Ethereum ($ETH) is struggling to maintain its fee revenue due to inadequate network capacity, while Layer 2 (L2) solutions are capitalizing on this limitation by keeping Ethereum’s capacity restricted.
Bons states: “ETH cannot sustain high fee revenue because it lacks capacity. At the same time, L2s are experiencing record levels in usage and fees while pushing to keep ETH capacity low.” He characterizes this dynamic as parasitic, where L2s benefit at the expense of Ethereum, particularly following the implementation of EIP-4844 (Proto-Danksharding), which Bons says has precipitated a collapse in fee revenue for Ethereum. His comment suggests that the fee burning mechanism, meant to offset inflation by making Ethereum deflationary, can no longer keep pace due to the diversion of fees to L2s.
Bons argues that this scenario has created a “parasitic relationship” between Ethereum and its L2 counterparts. He believes that L2s, while designed to scale Ethereum’s capacity by handling transactions off-chain, now operate almost independently, thus fragmenting the ecosystem. This fragmentation, according to Bons, is breaking down liquidity and composability — crucial elements that facilitate smooth operations across the#Ethereumnetwork.
In a pointed statement on X, Justin Bons, founder and chief investment officer of Cyber Capital, one of Europe’s oldest cryptocurrency funds, expressed a critical view of Ethereum’s current trajectory, stating that “Ethereum is dying while L2 dances on its grave.” Bons argues that Ethereum ($ETH) is struggling to maintain its fee revenue due to inadequate network capacity, while Layer 2 (L2) solutions are capitalizing on this limitation by keeping Ethereum’s capacity restricted.
Bons states: “ETH cannot sustain high fee revenue because it lacks capacity. At the same time, L2s are experiencing record levels in usage and fees while pushing to keep ETH capacity low.” He characterizes this dynamic as parasitic, where L2s benefit at the expense of Ethereum, particularly following the implementation of EIP-4844 (Proto-Danksharding), which Bons says has precipitated a collapse in fee revenue for Ethereum. His comment suggests that the fee burning mechanism, meant to offset inflation by making Ethereum deflationary, can no longer keep pace due to the diversion of fees to L2s.
Bons argues that this scenario has created a “parasitic relationship” between Ethereum and its L2 counterparts. He believes that L2s, while designed to scale Ethereum’s capacity by handling transactions off-chain, now operate almost independently, thus fragmenting the ecosystem. This fragmentation, according to Bons, is breaking down liquidity and composability — crucial elements that facilitate smooth operations across the#Ethereumnetwork.
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Expert Outlines Phases of Bitcoin and Altcoins’ “Biggest Fall” as “Trouble Approaches”
A cryptocurrency trading expert has warned of a worrying outlook for the next price move for Bitcoin ($BTC) and altcoins, even as investors anticipate potential new highs.
Alan Santana outlined a grim scenario set to unfold in the coming weeks, backed by detailed analysis suggesting the market is teetering on the edge of what could be the most significant drop of 2024.
According to Santana, the cryptocurrency market is on the cusp of reaching the climax of a correction that has been building up throughout the year. He ominously stated that “trouble is approaching in the market,” indicating that the Bitcoin capitulation event is inevitable and will have a cascading effect on the entire cryptocurrency market.
He noted that money is rapidly being withdrawn from altcoins, many of which had shown resilience despite Bitcoin’s fluctuations.
“Trouble is coming to the market. Many altcoins were looking good and holding strong even when Bitcoin was going up or down, but now everything is starting to slow down. This is the most telling sign of all,” the expert noted.
The first key support zone lies around the $1.65 trillion level, a critical area that could determine the market’s short-term fate. If this support fails, the market could fall to the next central support zone, around $1.2 trillion.
Turning his attention to altcoins, Santana outlined his likely reactions to the impending drop. He believes some altcoins have already bottomed out.
#Bitcoin! #altscoins #caida
A cryptocurrency trading expert has warned of a worrying outlook for the next price move for Bitcoin ($BTC) and altcoins, even as investors anticipate potential new highs.
Alan Santana outlined a grim scenario set to unfold in the coming weeks, backed by detailed analysis suggesting the market is teetering on the edge of what could be the most significant drop of 2024.
According to Santana, the cryptocurrency market is on the cusp of reaching the climax of a correction that has been building up throughout the year. He ominously stated that “trouble is approaching in the market,” indicating that the Bitcoin capitulation event is inevitable and will have a cascading effect on the entire cryptocurrency market.
He noted that money is rapidly being withdrawn from altcoins, many of which had shown resilience despite Bitcoin’s fluctuations.
“Trouble is coming to the market. Many altcoins were looking good and holding strong even when Bitcoin was going up or down, but now everything is starting to slow down. This is the most telling sign of all,” the expert noted.
The first key support zone lies around the $1.65 trillion level, a critical area that could determine the market’s short-term fate. If this support fails, the market could fall to the next central support zone, around $1.2 trillion.
Turning his attention to altcoins, Santana outlined his likely reactions to the impending drop. He believes some altcoins have already bottomed out.
#Bitcoin! #altscoins #caida
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The US fiscal outlook is more dangerous and discouraging than ever
Threatening the economy and the next generation of the country, Michael Peterson, executive director of the Peter G. Peterson Foundation, told 'Fox Business'. "This is not the future that any of us want and it is no way to govern a great nation like ours," he added.
Citing figures from the Treasury Department, Fox Business reported that the US national debt - which measures what the country owes to its creditors - reached $35 trillion on Wednesday afternoon, August 21. This is an increase of $907 billion from the previous day. "By comparison, just four decades ago, the national debt was around $907 billion," Fox Business observed.
In that context, economists say the outlook for the federal debt level is bleak and warned about the dizzying pace of public spending by Congress and the Executive.
In September 2022 alone, the media recalls, Biden approved nearly $4.8 trillion in loans, including $1.85 billion for the American Rescue Plan and $370 billion for the bipartisan infrastructure bill.
Added to this are the effects of rising interest rates over the past year and a half, which have made the cost of servicing the national debt more expensive. #EstadosUnidos #economía
Threatening the economy and the next generation of the country, Michael Peterson, executive director of the Peter G. Peterson Foundation, told 'Fox Business'. "This is not the future that any of us want and it is no way to govern a great nation like ours," he added.
Citing figures from the Treasury Department, Fox Business reported that the US national debt - which measures what the country owes to its creditors - reached $35 trillion on Wednesday afternoon, August 21. This is an increase of $907 billion from the previous day. "By comparison, just four decades ago, the national debt was around $907 billion," Fox Business observed.
In that context, economists say the outlook for the federal debt level is bleak and warned about the dizzying pace of public spending by Congress and the Executive.
In September 2022 alone, the media recalls, Biden approved nearly $4.8 trillion in loans, including $1.85 billion for the American Rescue Plan and $370 billion for the bipartisan infrastructure bill.
Added to this are the effects of rising interest rates over the past year and a half, which have made the cost of servicing the national debt more expensive. #EstadosUnidos #economía
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#Bitcoin Could Benefit from a Constructive Regulatory Approach
In addition to macroeconomic trends, the cryptocurrency industry is seeing a brighter outlook as the U.S. presidential election approaches in November. Candidates have strong incentives to publicly support the digital finance industry, regardless of their actual intentions. A Bloomberg report on August 21 indicated that Democratic presidential candidate Kamala Harris has reportedly pledged to support the continued growth of the crypto industry.
Ultimately, as long as U.S. employment and inflation data remain neutral to positive, the likelihood of looser monetary policy from the Federal Reserve will increase. This could help reduce government spending on debt repayment, but it could also weaken the domestic currency as investors look elsewhere for better fixed-income opportunities. As a result, the prospects for Bitcoin to surpass $62,000 before the end of the year remain strong.
In addition to macroeconomic trends, the cryptocurrency industry is seeing a brighter outlook as the U.S. presidential election approaches in November. Candidates have strong incentives to publicly support the digital finance industry, regardless of their actual intentions. A Bloomberg report on August 21 indicated that Democratic presidential candidate Kamala Harris has reportedly pledged to support the continued growth of the crypto industry.
Ultimately, as long as U.S. employment and inflation data remain neutral to positive, the likelihood of looser monetary policy from the Federal Reserve will increase. This could help reduce government spending on debt repayment, but it could also weaken the domestic currency as investors look elsewhere for better fixed-income opportunities. As a result, the prospects for Bitcoin to surpass $62,000 before the end of the year remain strong.
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Bitcoin Fundamentals and ETF Spot Flows Remain Strong
#Bitcoinanalyst and investor Decode believes that BTC price needs to break above the 200-day moving average, especially on the monthly close, to “resume the uptrend.”
However, Decode adds that Bitcoin “seems to have lost momentum for now, [...] so August-September will most likely be a continuation of the boring zone, but I am bullish on Q4 and ready to be surprised.”
Essentially, investors remain bullish on the medium term, but do not foresee an immediate catalyst to close the gap between Bitcoin and traditional markets.
Investors anticipate that the Federal Open Market Committee (FOMC) will cut interest rates at the next meeting scheduled to conclude on September 18. Some economists believe that there is potential for a 0.50% rate cut, which would be considered aggressive and typically risk-friendly in the markets.
Such a cut would reduce the compensation for fixed-income investments, such as US Treasury bonds, and lower the cost of capital for companies. Even a 0.25% rate cut would signal to the market that the most severe phase of monetary tightening is behind us.
Meanwhile, $BTC Bitcoin continues to struggle to establish itself as an uncorrelated asset that serves multiple purposes. For example, global gold ETFs have $246.2 billion in assets under management, according to gold.org, while Bitcoin spot instruments, including#ETFsand ETNs, total $66.6 billion, according to CoinShares. Despite Bitcoin’s intrinsic properties of censorship resistance and a fixed monetary policy, it still has a long way to go to solidify its presence in traditional financial markets.
#Bitcoinanalyst and investor Decode believes that BTC price needs to break above the 200-day moving average, especially on the monthly close, to “resume the uptrend.”
However, Decode adds that Bitcoin “seems to have lost momentum for now, [...] so August-September will most likely be a continuation of the boring zone, but I am bullish on Q4 and ready to be surprised.”
Essentially, investors remain bullish on the medium term, but do not foresee an immediate catalyst to close the gap between Bitcoin and traditional markets.
Investors anticipate that the Federal Open Market Committee (FOMC) will cut interest rates at the next meeting scheduled to conclude on September 18. Some economists believe that there is potential for a 0.50% rate cut, which would be considered aggressive and typically risk-friendly in the markets.
Such a cut would reduce the compensation for fixed-income investments, such as US Treasury bonds, and lower the cost of capital for companies. Even a 0.25% rate cut would signal to the market that the most severe phase of monetary tightening is behind us.
Meanwhile, $BTC Bitcoin continues to struggle to establish itself as an uncorrelated asset that serves multiple purposes. For example, global gold ETFs have $246.2 billion in assets under management, according to gold.org, while Bitcoin spot instruments, including#ETFsand ETNs, total $66.6 billion, according to CoinShares. Despite Bitcoin’s intrinsic properties of censorship resistance and a fixed monetary policy, it still has a long way to go to solidify its presence in traditional financial markets.
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Trump Backs Bitcoin! Is This the End of Traditional Banking?
Donald Trump has recently expanded his engagement with the cryptocurrency sector, promoting a family-owned crypto project called “The Defiant Ones.” He positions this venture as an alternative to traditional banking, advocating for what he describes as financial liberation from the control of large financial institutions.
This marks a turnaround from Trump’s previous stance on cryptocurrencies, which he once dismissed as a “scam against the dollar” in 2021. However, his recent communications show a notable shift, as he actively endorses#Bitcoinand positions it as a strategic component of America’s financial reserves should he return to the presidency.
Trump’s promotion of “The Defiant Ones” came on his social platform, Truth Social, where he linked to the project’s Telegram channel and encouraged his followers to take a stand against the financial elite.
His post quickly garnered attention, significantly increasing the Telegram channel's follower count, reflecting its substantial influence on public discourse and sentiment.
Furthermore, this engagement with the crypto world coincides with Trump's campaign, as he is currently leading Kamala Harris in prediction markets for the upcoming presidential election.
This move not only highlights his strategic pivot towards embracing digital finance, but also aims to resonate with a voter base that is increasingly skeptical of conventional financial institutions.
$BTC #Trump
Donald Trump has recently expanded his engagement with the cryptocurrency sector, promoting a family-owned crypto project called “The Defiant Ones.” He positions this venture as an alternative to traditional banking, advocating for what he describes as financial liberation from the control of large financial institutions.
This marks a turnaround from Trump’s previous stance on cryptocurrencies, which he once dismissed as a “scam against the dollar” in 2021. However, his recent communications show a notable shift, as he actively endorses#Bitcoinand positions it as a strategic component of America’s financial reserves should he return to the presidency.
Trump’s promotion of “The Defiant Ones” came on his social platform, Truth Social, where he linked to the project’s Telegram channel and encouraged his followers to take a stand against the financial elite.
His post quickly garnered attention, significantly increasing the Telegram channel's follower count, reflecting its substantial influence on public discourse and sentiment.
Furthermore, this engagement with the crypto world coincides with Trump's campaign, as he is currently leading Kamala Harris in prediction markets for the upcoming presidential election.
This move not only highlights his strategic pivot towards embracing digital finance, but also aims to resonate with a voter base that is increasingly skeptical of conventional financial institutions.
$BTC #Trump
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Currencies fall by 30%: the world is on the brink of an economic abyss
Real inflation worldwide is now around 30%. For example, in the United States, the dollar fell by 33% over the year against gold. The Chinese yen fell by 30%, the British pound also by 30%, the euro by 28%, the Israeli shekel by 29% and the Russian ruble by 24%. In addition, major cryptocurrencies such as Bitcoin, Ethereum and Solana have fallen in recent days.
That is, there is not enough money in the world and countries are simply printing it. This is a global situation.
In the United States, the European Union, China and Israel, governments say that inflation is around 2%, but this is not true. The ratio of currency to gold shows the situation more objectively.
But the main increase in inflation occurred from the beginning of 2024, when the Middle East also began to prepare for war. The whole world is intensively producing and buying weapons, valuables and everything necessary for survival.
The United States does not want a war in the Middle East, that is why they are trying to cool Israel's ardor, but Israel is beating the drums, oddly enough, it wants to fight everyone around it.
This is natural madness, no one wants it, not even Iran, which is many times larger than Israel and, unlike the latter, has strategic depth.
The whole world is trying to hold Israel back, because a major war in the Middle East will last a long time and could collapse the dollar and oil, after which the entire world economy will begin to fall like a house of cards.
But the entire world economy is now on the edge. #Bitcoin #inflación #monedas
Real inflation worldwide is now around 30%. For example, in the United States, the dollar fell by 33% over the year against gold. The Chinese yen fell by 30%, the British pound also by 30%, the euro by 28%, the Israeli shekel by 29% and the Russian ruble by 24%. In addition, major cryptocurrencies such as Bitcoin, Ethereum and Solana have fallen in recent days.
That is, there is not enough money in the world and countries are simply printing it. This is a global situation.
In the United States, the European Union, China and Israel, governments say that inflation is around 2%, but this is not true. The ratio of currency to gold shows the situation more objectively.
But the main increase in inflation occurred from the beginning of 2024, when the Middle East also began to prepare for war. The whole world is intensively producing and buying weapons, valuables and everything necessary for survival.
The United States does not want a war in the Middle East, that is why they are trying to cool Israel's ardor, but Israel is beating the drums, oddly enough, it wants to fight everyone around it.
This is natural madness, no one wants it, not even Iran, which is many times larger than Israel and, unlike the latter, has strategic depth.
The whole world is trying to hold Israel back, because a major war in the Middle East will last a long time and could collapse the dollar and oil, after which the entire world economy will begin to fall like a house of cards.
But the entire world economy is now on the edge. #Bitcoin #inflación #monedas
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11,454% Bitcoin Gain Brings Dormant Whale Back to Life
According to on-chain data, a dormant Bitcoin address has come back to life after being dormant for 10.8 years, sparking curiosity in the cryptocurrency community.
Data tracker Blockchain Whale Alert states: “A dormant address containing 142 BTC currently valued at $8,457,465 has just gone live after 10.8 years (worth $78,150 in 2013).” In 2013, the 142 BTC were worth $78,150, representing an incredible 11,454% growth in value.
Dormant addresses are wallets that have not been active for an extended period and usually belong to early Bitcoin users or miners, so their activation often spurs speculation.
While the identity of the owner is unknown, there is speculation about the motives behind this sudden activity.
The owner could have decided to cash in on the massive profit. With the value of $BTC skyrocketing over the past decade, the temptation to profit is understandable. The owner could also choose to transfer the funds to a more secure wallet, or it could be a long-lost wallet that has just been discovered.
What do you think?
According to on-chain data, a dormant Bitcoin address has come back to life after being dormant for 10.8 years, sparking curiosity in the cryptocurrency community.
Data tracker Blockchain Whale Alert states: “A dormant address containing 142 BTC currently valued at $8,457,465 has just gone live after 10.8 years (worth $78,150 in 2013).” In 2013, the 142 BTC were worth $78,150, representing an incredible 11,454% growth in value.
Dormant addresses are wallets that have not been active for an extended period and usually belong to early Bitcoin users or miners, so their activation often spurs speculation.
While the identity of the owner is unknown, there is speculation about the motives behind this sudden activity.
The owner could have decided to cash in on the massive profit. With the value of $BTC skyrocketing over the past decade, the temptation to profit is understandable. The owner could also choose to transfer the funds to a more secure wallet, or it could be a long-lost wallet that has just been discovered.
What do you think?
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CEO to Bitcoin Holders: Wait Until Q4 2024 for BTC Prices to Recover
Ki Young Ju, CEO and founder of CryptoQuant, notes that prices tend to consolidate whenever the network is in the midst of events. This sideways movement tends to last for most of the year before prices spike in the final quarter when whales step in.
In the last bull cycle, when Bitcoin halved network rewards in 2020, prices moved sideways with prices only rising a bit in the final quarter of the year.
Comparing the current state of price action to what happened then, Bitcoin is very likely to recover. Ju said this bullish outlook is because “whales will not let Q4 be boring with flat year-over-year performance.”
Analysts consider the Bitcoin Halving to be a bullish event, at least considering how prices have been trending. Every time the network halves miner rewards, the currency becomes deflationary.
The expected supply crunch following the April 20 Halving is the reason why most analysts still believe the currency will surpass its all-time highs. This confidence is due to the approval of Bitcoin spot ETFs in January. Since then, major issuers including Fidelity and BlackRock have purchased billions of dollars worth of BTC.
In addition to institutional demand for $BTC, miners have slowed their liquidation. The hash rate fell after weak miners dumped billions of coins in June. However, the hash rate has improved in recent weeks, indicating renewed confidence from miners who bought new equipment to remain competitive despite lower rewards.
#ETH🔥🔥🔥🔥 #Bitcoin
Ki Young Ju, CEO and founder of CryptoQuant, notes that prices tend to consolidate whenever the network is in the midst of events. This sideways movement tends to last for most of the year before prices spike in the final quarter when whales step in.
In the last bull cycle, when Bitcoin halved network rewards in 2020, prices moved sideways with prices only rising a bit in the final quarter of the year.
Comparing the current state of price action to what happened then, Bitcoin is very likely to recover. Ju said this bullish outlook is because “whales will not let Q4 be boring with flat year-over-year performance.”
Analysts consider the Bitcoin Halving to be a bullish event, at least considering how prices have been trending. Every time the network halves miner rewards, the currency becomes deflationary.
The expected supply crunch following the April 20 Halving is the reason why most analysts still believe the currency will surpass its all-time highs. This confidence is due to the approval of Bitcoin spot ETFs in January. Since then, major issuers including Fidelity and BlackRock have purchased billions of dollars worth of BTC.
In addition to institutional demand for $BTC, miners have slowed their liquidation. The hash rate fell after weak miners dumped billions of coins in June. However, the hash rate has improved in recent weeks, indicating renewed confidence from miners who bought new equipment to remain competitive despite lower rewards.
#ETH🔥🔥🔥🔥 #Bitcoin
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#BecomeCreator The cryptocurrency market witnessed a solid rally as Bitcoin surpassed the $61,000 mark, fueled by strong ETF inflows and renewed institutional interest.
This bullish momentum has carried over to major altcoins, with XRP (XRP), Binance Coin (BCH) and Tron (TRX) leading the charge.
This bullish momentum has carried over to major altcoins, with XRP (XRP), Binance Coin (BCH) and Tron (TRX) leading the charge.
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Dollar Falls, Bitcoin Rebounds as Fed Minutes Cement September Rate Cut
In the cryptocurrency market, Bitcoin soared 1.4% in the hour-to-minute, extending daily gains to 3%.
The minutes from the July Federal Open Market Committee (FOMC) meeting have further solidified investors’ expectations for a rate cut at the upcoming September meeting, as policymakers highlighted continued progress on disinflation.
The minutes revealed that some participants had considered the “plausible case” for lowering rates as early as the July meeting, a sentiment echoed by Federal Reserve Chair Jerome Powell during the press conference afterwards.
In addition, the moderation in the labor market is expected to continue to contribute to disinflation, particularly in core non-housing service prices.
The path appears set for a September rate cut, with Fed funds futures markets assigning a 61.5% probability to a 25 basis point cut, compared with a 38% chance of a more significant 50 basis point cut.
The likelihood of a more aggressive half-point rate cut rose during Wednesday's session, influenced by a downward revision in annual nonfarm payroll estimates through March 2024 and supported by the FOMC minutes. #fed
In the cryptocurrency market, Bitcoin soared 1.4% in the hour-to-minute, extending daily gains to 3%.
The minutes from the July Federal Open Market Committee (FOMC) meeting have further solidified investors’ expectations for a rate cut at the upcoming September meeting, as policymakers highlighted continued progress on disinflation.
The minutes revealed that some participants had considered the “plausible case” for lowering rates as early as the July meeting, a sentiment echoed by Federal Reserve Chair Jerome Powell during the press conference afterwards.
In addition, the moderation in the labor market is expected to continue to contribute to disinflation, particularly in core non-housing service prices.
The path appears set for a September rate cut, with Fed funds futures markets assigning a 61.5% probability to a 25 basis point cut, compared with a 38% chance of a more significant 50 basis point cut.
The likelihood of a more aggressive half-point rate cut rose during Wednesday's session, influenced by a downward revision in annual nonfarm payroll estimates through March 2024 and supported by the FOMC minutes. #fed
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Bitcoin can rally to $80,000
While bearish indicators are worrying, Bitcoin's price action also shows the potential for a bullish reversal.
The weekly chart highlights a bullish flag pattern, a continuation pattern that, if confirmed, could propel Bitcoin back towards its previous high of $80,000.
The flag pattern is characterized by a downward sloping channel (flag) that follows a strong upward move (flagpole).
Bitcoin's recent price action fits this description, as the cryptocurrency trades within a tight range following its March 2024 peak.
Bullish flags are resolved when the price breaks above the upper trendline and rises to the height of the flagpole. Applying the same technical rule to the current $BTC price action yields $ 80.000 as the ultimate upside target of the bull flag.
Fundamentally, the potential rate cut by the Federal Reserve in September and a persistent hold sentiment among long-term Bitcoin investors may fuel the bull flag breakout scenario.
#Bitcoin
While bearish indicators are worrying, Bitcoin's price action also shows the potential for a bullish reversal.
The weekly chart highlights a bullish flag pattern, a continuation pattern that, if confirmed, could propel Bitcoin back towards its previous high of $80,000.
The flag pattern is characterized by a downward sloping channel (flag) that follows a strong upward move (flagpole).
Bitcoin's recent price action fits this description, as the cryptocurrency trades within a tight range following its March 2024 peak.
Bullish flags are resolved when the price breaks above the upper trendline and rises to the height of the flagpole. Applying the same technical rule to the current $BTC price action yields $ 80.000 as the ultimate upside target of the bull flag.
Fundamentally, the potential rate cut by the Federal Reserve in September and a persistent hold sentiment among long-term Bitcoin investors may fuel the bull flag breakout scenario.
#Bitcoin
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Bitcoin Fractal Highs Increase Downside Risk by 38%
A closer look at Bitcoin’s weekly price chart suggests that the cryptocurrency may mirror previous market trends.
The areas highlighted in red on the chart represent local peaks where Bitcoin’s price faced significant resistance.
Notably, these areas align with overbought conditions on the Relative Strength Index (RSI), leading to sharp declines.
Currently, Bitcoin’s RSI is showing similar overbought signals, having formed lower highs even as the price reached higher levels – a classic bearish divergence.
This pattern indicates a weakening of bullish momentum, which, if it plays out as it did during previous cycles, could lead Bitcoin’s price towards the 200-week exponential moving average (EMA), a critical support level of around $ 36.750, down about 38% from the current level. price levels.
On the contrary, the price of $BTC could undergo a bullish reversal from its 50-week EMA (the red wave) if its RSI sustains above 41, its predominant support level.
#RSI #BTC☀️ #EMA
A closer look at Bitcoin’s weekly price chart suggests that the cryptocurrency may mirror previous market trends.
The areas highlighted in red on the chart represent local peaks where Bitcoin’s price faced significant resistance.
Notably, these areas align with overbought conditions on the Relative Strength Index (RSI), leading to sharp declines.
Currently, Bitcoin’s RSI is showing similar overbought signals, having formed lower highs even as the price reached higher levels – a classic bearish divergence.
This pattern indicates a weakening of bullish momentum, which, if it plays out as it did during previous cycles, could lead Bitcoin’s price towards the 200-week exponential moving average (EMA), a critical support level of around $ 36.750, down about 38% from the current level. price levels.
On the contrary, the price of $BTC could undergo a bullish reversal from its 50-week EMA (the red wave) if its RSI sustains above 41, its predominant support level.
#RSI #BTC☀️ #EMA
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🙈Is Bitcoin Price Going to Drop Further? 🙊
This is the question most of us are asking ourselves right now. So it's good to pay attention to the following key points:
💥Over 84% of Bitcoin addresses are still in profit, indicating potential for further selling pressure.
💥Bitcoin's RSI and historical patterns suggest a possible 38% drop towards the 200-week EMA.
💥Despite bearish signals, a bullish flag pattern could send Bitcoin back to $80,000.
Bitcoin $BTC has seen a significant correction since its peak in March 2024, falling from around $74,000 to below $60,000. Several factors have contributed to the cryptocurrency’s decline, including the long-awaited refunds from Mt. Gox, the US and German governments’ liquidation of their seized BTC, and the impact of the falling yen carry trade on global markets.
These elements raise concerns about whether the price of Bitcoin will continue to fall or if a recovery is on the horizon.
Despite the recent correction, over 84% of Bitcoin addresses are still in profit, according to data from Glassnode.
Historically, such high levels of profitability have coincided with local market highs, often preceding major price corrections, as seen in the bear markets of 2021 and 2022.
The chart reveals that when the percentage of profitable addresses exceeds 90%, Bitcoin often faces increased selling pressure. This selling typically comes from investors looking to lock in profits, fearing a potential market crash.
#Bitcoin #pronostico
This is the question most of us are asking ourselves right now. So it's good to pay attention to the following key points:
💥Over 84% of Bitcoin addresses are still in profit, indicating potential for further selling pressure.
💥Bitcoin's RSI and historical patterns suggest a possible 38% drop towards the 200-week EMA.
💥Despite bearish signals, a bullish flag pattern could send Bitcoin back to $80,000.
Bitcoin $BTC has seen a significant correction since its peak in March 2024, falling from around $74,000 to below $60,000. Several factors have contributed to the cryptocurrency’s decline, including the long-awaited refunds from Mt. Gox, the US and German governments’ liquidation of their seized BTC, and the impact of the falling yen carry trade on global markets.
These elements raise concerns about whether the price of Bitcoin will continue to fall or if a recovery is on the horizon.
Despite the recent correction, over 84% of Bitcoin addresses are still in profit, according to data from Glassnode.
Historically, such high levels of profitability have coincided with local market highs, often preceding major price corrections, as seen in the bear markets of 2021 and 2022.
The chart reveals that when the percentage of profitable addresses exceeds 90%, Bitcoin often faces increased selling pressure. This selling typically comes from investors looking to lock in profits, fearing a potential market crash.
#Bitcoin #pronostico
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New scheme of fraud with bank cards uncovered
VTB specialists have identified a new scheme of fraud: they now rent bank cards from so-called "drops" to withdraw stolen money, the VTB press service told RIA Novosti.
“Previously, attackers bought cards and got rid of them after completing transactions. Now they seek to shift responsibility to the original cardholders, making them accomplices in the crime,” the bank's press service said.
They explained that the fraudsters use third-party bank accounts and cards with logins and passwords in banking applications; the victim is asked to transfer money to them.
The fraudsters rent third-party credit cards to ordinary users (so-called drops), convincing them that it is safe.
“They (the fraudsters - ed.) convince potential customers that handing over a bank card and accessing banking services is safe and promise easy and legal profits.
It is much easier for them to convince a conscientious user not to sell, but to hand over his card for a while. People readily believe that such a transfer is completely safe,” Dmitry Revyakin, head of the department for the protection of corporate interests at VTB, was quoted as saying in the press service.
At the same time, he warned that such a transfer carries many risks - from being blacklisted by banks to being an accomplice to a criminal offense.
“Many people do not think about the fact that they themselves can become victims of fraudsters: having gained access to their data from their personal accounts, attackers can give them loans and leave them as debtors,” Revyakin added.
#fraudes
VTB specialists have identified a new scheme of fraud: they now rent bank cards from so-called "drops" to withdraw stolen money, the VTB press service told RIA Novosti.
“Previously, attackers bought cards and got rid of them after completing transactions. Now they seek to shift responsibility to the original cardholders, making them accomplices in the crime,” the bank's press service said.
They explained that the fraudsters use third-party bank accounts and cards with logins and passwords in banking applications; the victim is asked to transfer money to them.
The fraudsters rent third-party credit cards to ordinary users (so-called drops), convincing them that it is safe.
“They (the fraudsters - ed.) convince potential customers that handing over a bank card and accessing banking services is safe and promise easy and legal profits.
It is much easier for them to convince a conscientious user not to sell, but to hand over his card for a while. People readily believe that such a transfer is completely safe,” Dmitry Revyakin, head of the department for the protection of corporate interests at VTB, was quoted as saying in the press service.
At the same time, he warned that such a transfer carries many risks - from being blacklisted by banks to being an accomplice to a criminal offense.
“Many people do not think about the fact that they themselves can become victims of fraudsters: having gained access to their data from their personal accounts, attackers can give them loans and leave them as debtors,” Revyakin added.
#fraudes
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Bitcoin derivatives signal a BTC price reversal
There is a growing possibility of a “short squeeze” in the Bitcoin derivatives market, which could lead to a major rally to $BTC , as noted by K33 Research.
The funding rate of Bitcoin perpetual futures, which estimates how bullish or bearish speculators are, could signal a bullish BTC price reversal. Aug. 20 saw the lowest seven-day average annualized funding rate since March 2023, according to K33.
The cryptocurrency market has been cautious lately, with Bitcoin continuing to lose ground in August following its failure to stay above the $60,000 mark. Concerns that the U.S. government may be selling seized tokens have recently impacted the price of Bitcoin. Traders are also awaiting crucial comments from Federal Reserve Chairman Jerome Powell, whose indications of likely interest rate cuts could cause volatility.
#MarketDownturn
There is a growing possibility of a “short squeeze” in the Bitcoin derivatives market, which could lead to a major rally to $BTC , as noted by K33 Research.
The funding rate of Bitcoin perpetual futures, which estimates how bullish or bearish speculators are, could signal a bullish BTC price reversal. Aug. 20 saw the lowest seven-day average annualized funding rate since March 2023, according to K33.
The cryptocurrency market has been cautious lately, with Bitcoin continuing to lose ground in August following its failure to stay above the $60,000 mark. Concerns that the U.S. government may be selling seized tokens have recently impacted the price of Bitcoin. Traders are also awaiting crucial comments from Federal Reserve Chairman Jerome Powell, whose indications of likely interest rate cuts could cause volatility.
#MarketDownturn
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Kamala Harris Ignores Bitcoin in Newly Launched Party Platform
All indications are that Kamala Harris' team might not have a place for cryptocurrencies like Bitcoin $BTC if they manage to retain the presidency.
The Democratic National Committee (DNC) has released its party's ideals in preparation for the 2024 presidential election. It turned out that blockchain technology, Bitcoin, or any related topic was not on the list. Kamala Harris Ignores Crypto Sector
This latest development suggests that the vice president no longer has plans to impress the cryptocurrency community.
The convention brochure detailed agriculture, healthcare, good jobs, housing, education, and a few other topics as its focus.
Notably, the failure to include the topic of cryptocurrencies in the 91-page document has sparked various reactions from Americans.
MetaLawMan on X showed a brief comparison between the Republicans' platform and the Democrats' newly launched platform.
The comparison shows that Republicans are interested in ending the other party's crackdown on cryptocurrencies. They also plan to stop the development of a central bank digital currency (CBDC) in the region.
Fox Business reporter Eleanor Terrett shared a screenshot of a page on the Republican National Committee (GOP) platform. The said page is dedicated to promoting innovation, including cryptocurrencies, space travel, and artificial intelligence (AI).
Is a bigger, more subtle fight coming? #EstadosUnidos
All indications are that Kamala Harris' team might not have a place for cryptocurrencies like Bitcoin $BTC if they manage to retain the presidency.
The Democratic National Committee (DNC) has released its party's ideals in preparation for the 2024 presidential election. It turned out that blockchain technology, Bitcoin, or any related topic was not on the list. Kamala Harris Ignores Crypto Sector
This latest development suggests that the vice president no longer has plans to impress the cryptocurrency community.
The convention brochure detailed agriculture, healthcare, good jobs, housing, education, and a few other topics as its focus.
Notably, the failure to include the topic of cryptocurrencies in the 91-page document has sparked various reactions from Americans.
MetaLawMan on X showed a brief comparison between the Republicans' platform and the Democrats' newly launched platform.
The comparison shows that Republicans are interested in ending the other party's crackdown on cryptocurrencies. They also plan to stop the development of a central bank digital currency (CBDC) in the region.
Fox Business reporter Eleanor Terrett shared a screenshot of a page on the Republican National Committee (GOP) platform. The said page is dedicated to promoting innovation, including cryptocurrencies, space travel, and artificial intelligence (AI).
Is a bigger, more subtle fight coming? #EstadosUnidos