Bitcoin (BTC) price dropped below the $30,000 level on July 18, which given the developments of the last month, retail investors may not have expected, but does today’s downside move represent an upcoming shift in the trend? Data suggests that over the longer-term it does not. To get to the positives first, Bitcoin price is…
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The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause. In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June 26 petition from the…
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On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around the empowerment of human resources, support of businesses, further development of…
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New York Representative Ritchie Torres has called on United States Securities and Exchange Commission (SEC) chair Gary Gensler to reconsider the regulator’s position on crypto following a “dreadful day in court”. In a July 18 letter to Gensler, Rep. Torres requested the SEC limit its enforcement cases to “bonafide bad actors” rather than “indiscriminately” treating…
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BlackRock’s application for a Bitcoin ETF has sparked the beginning of a new crypto bull market, which will go parabolic at some point closer to the halving scheduled for April 2024, according to Mark Yusko, the CIO and Founder of Morgan Creek Capital. “Based on Metcalfe’s law model, fair value for Bitcoin is around $55K.…
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Brian Armstrong, the CEO of United States-based cryptocurrency exchange Coinbase, is reportedly planning to meet with members of Congress to discuss digital asset legislation and related issues. According to a July 17 Bloomberg report, Armstrong has a scheduled meeting with the New Democrat Coalition, a group of roughly 100 Democrats in the House of Representatives…
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Bitcoin (BTC) targeted new month-to-date lows at the July 18 Wall Street open as bulls refused to give up on $30,000 support. BTC/USD 1-hour chart. Source: TradingView BTC price: Heavy resistance risks weekly downtrend Data from Cointelegraph Markets Pro and TradingView showed BTC price action dropping after a modest rebound from $29,675 — its worst…
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The European Union has been vocal about its place in the rapidly expanding ecosystem of emerging technologies. It has been a leader in establishing clear crypto regulations with its long-awaited Markets in Crypto-Assets (MiCA) framework signed into law in late May. The EU has also been pushing forward on creating regulations for the development and deployment of…
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The United States’ Securities and Exchange Commission (SEC) has accepted Valkyrie’s Bitcoin (BTC) exchange-traded fund (ETF) proposal for official review. According to data from the SEC’s Nasdaq rulemaking list, Valkyrie’s proposal for its spot Bitcoin ETF entered the official docket on July 17. Valkyrie’s listing on the docket is the second spot Bitcoin ETF proposal…
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Bitcoin (BTC) has spent almost a month at or near $30,000, but this is no coincidence, new analysis claims. In one of its Quicktake market updates on July 17, on-chain analytics platform CryptoQuant highlighted three key factors keeping BTC price action in the same place. Bitcoin speculators in the driving seat Bitcoin has rebuffed any…
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