Price analysis 8/7: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
Bitcoin’s failure to rebound off strong support may open further downside as bears may be tempted to sell. Source link
FTX has a plan, but creditors are not impressed: Law Decoded
FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. FTX’s Official Committee of Unsecured Creditors (UCC) said despite its…
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Hong Kong securities regulator warns of ‘criminal’ activity by unlicensed exchanges
The Securities and Futures Commission (SFC) of Hong Kong issued a notice about unlicensed virtual asset trading platforms “engaging in improper practices,” warning of potential criminal charges. In an Aug. 7 notice, the SFC said certain trading firms had falsely claimed to have submitted applications for licenses in Hong Kong. The securities regulator said should…
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Buffett and Ackman take opposing sides on Treasury yields — What does it mean for Bitcoin?
Warren Buffett and Bill Ackman are two of the most successful investors in the world, but they have taken opposing views on the bond market in recent months. Only one can be right. Billionaire investor Bill Ackman says he is shorting US Treasuries. if long-term inflation is 3% not 2%, the 30y Treasury yield could…
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Bitcoin faces ‘endless spot selling’ as BTC price dips below $28.7K
Bitcoin (BTC) fell below $28,700 after the Aug. 7 Wall Street open as “endless spot selling” drove BTC price action lower. BTC/USD 1-hour chart. Source: TradingView Bitcoin traders brace for losses as $29,000 support breaks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning nearer to its August lows after a shaky weekly close.…
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Telegram crypto bots gain momentum in the market: Binance Research
Telegram bots have been increasingly emerging as a new tool to get exposure to cryptocurrency markets and a number of related services. The cumulative crypto trading volume associated with Telegram bots exceeded $190 million as of early August 2023, according to a new report by Binance’s research arm Binance Research. Crypto activity facilitated through Telegram…
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India House passes bill to ease BigTech data compliance
The lower house of India’s parliament voted in approval of a bill that will ease data compliance regulations for Big Tech companies, according to a report from Bloomberg. On Aug. 7, the legislation that was approved by the house will ease storage, processing and transfer standards for major global tech companies like Google, Meta and…
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Binance sold USDC for another stablecoin — Coinbase CEO
Coinbase CEO Brian Armstrong’s comments to a question about the USD Coin (USDC) stablecoin during the company’s second-quarter earning calls raised some eyebrows. While commenting on the market cap of USDC, Armstrong quipped that Binance moved some of its funds from USDC into another stablecoin, but despite that, the market cap of USDC has held…
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BTC price meets CPI as volatility ‘collapses’ — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts the second week of August with barely a sound as rangebound BTC price behavior continues. After one of its least volatile weekly closes, BTC/USD remains stuck to $29,000 — can the coming seven days provide what is needed to break the deadlock? Headlining the list of potential volatility catalysts is United States…
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Crypto-centered public companies record profit beating Q2 estimates
A number of crypto-centred public companies released their quarterly earnings report over the past couple of weeks, sharing increased revenue and a jump in profits across the board. The majority of these crypto firms benefited from the rise in prices of the crypto market and a constant decline in bearish momentum, moving away from the…
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