Author: Defx Intern

Bitcoin (BTC) is currently trading at around $97,102, after experiencing fluctuations between $96,174.83 and $99,168.61 over the past 24 hours. Despite the recent market volatility and weaker than normal trading volume, Bitcoin’s dominance in the crypto market continues to climb.

The ability of Bitcoin to maintain its price level near the $98,000 mark is a testament to its resilience in the face of market uncertainty. As the dominant cryptocurrency, Bitcoin’s performance often sets the tone for the broader crypto market.

The rising dominance of Bitcoin suggests that investors are increasingly viewing it as a safe haven asset during times of market turbulence. This trend could potentially lead to further price appreciation in the near future, as more investors allocate their funds to Bitcoin.

However, it is important to note that Bitcoin’s price is still below the psychological resistance level of $100,000. A sustained break above this level could open up the possibility for further upside potential.

Technical analysis suggests that Bitcoin is currently trading above its 50-day moving average, which is a bullish sign. However, the cryptocurrency is also approaching overbought levels on the relative strength index (RSI), which could indicate a potential pullback in the short term.

Tags: Bitcoin price, market volatility, crypto dominance, technical analysis, Bitcoin resistance levels

Source: https://news.bitcoin.com/bitcoin-hovers-near-98k-amid-market-volatility-and-rising-dominance/

Crypto exchange Bybit has successfully completed its registration with India’s Financial Intelligence Unit (FIU-IND) after agreeing to pay a hefty fine of 92.7 million rupees (approximately $1 million). The Dubai-based exchange had been operating in India without proper authorization, leading to the imposition of the penalty.

Bybit’s clearance to operate in India comes as a significant development for the crypto industry in the country. The exchange’s willingness to comply with regulatory requirements and settle the outstanding fine demonstrates its commitment to the Indian market. This move could potentially pave the way for other international crypto exchanges to enter India, provided they adhere to the necessary regulations.

The registration with FIU-IND is a crucial step for crypto businesses operating in India, as it ensures compliance with the Prevention of Money Laundering Act (PMLA) and associated regulations. Bybit’s successful registration, following the settlement of the fine, indicates that the exchange has addressed the concerns raised by the regulatory body and has put in place the required measures to prevent money laundering and other illicit activities.

The Indian crypto market has been in a state of uncertainty due to the lack of clear regulations and the hesitance of traditional financial institutions to engage with crypto businesses. However, Bybit’s entry into the market, with the necessary regulatory approvals, could boost investor confidence and attract more participants to the crypto space.

As Bybit resumes its services to Indian users, it will be interesting to observe how the exchange navigates the evolving regulatory landscape and competes with other domestic and international players in the market. The exchange’s ability to provide a secure and compliant platform for crypto trading will be a key factor in its success in India.

Tags: Bybit, India, Crypto Exchange, Regulation, PMLA

Source: https://www.coindesk.com/policy/2025/02/06/crypto-exchange-bybit-receives-india-clearance-after-settling-usd1m-fine

In a significant move, former U.S. President Donald Trump’s media company, Trump Media and Technology Group (TMTG), has announced plans to launch a series of exchange-traded funds (ETFs) under the Truth.Fi brand. The most notable among these is the Truth.Fi Bitcoin Plus ETF, which will track the price of bitcoin (BTC).

This development marks a major step towards mainstream adoption of cryptocurrencies, as it brings the world of digital assets closer to traditional financial markets. By launching a bitcoin ETF, TMTG is not only providing investors with a new avenue to gain exposure to the leading cryptocurrency but also legitimizing its position as a viable investment asset.

The launch of the Truth.Fi Bitcoin Plus ETF is expected to attract significant interest from both retail and institutional investors, given the growing demand for regulated crypto investment products. However, it remains to be seen whether the fund will be able to match the success of other recently launched bitcoin ETFs, such as BlackRock’s iShares Bitcoin Trust (IBIT), which accumulated over $52 billion in assets within its first year.

While some experts, like Bloomberg Intelligence senior ETF analyst Eric Balchunas, believe that TMTG’s bitcoin ETF may not see the same level of traction as its competitors, the mere fact that a company associated with a former U.S. President is launching such a product is a testament to the growing acceptance and mainstreaming of cryptocurrencies.

As the crypto market continues to mature and gain recognition from traditional financial institutions, the launch of ETFs like Truth.Fi Bitcoin Plus ETF could pave the way for greater inflows of capital and increased stability in the market. However, investors should remain cautious and conduct thorough research before investing in any crypto-related products, as the market remains highly volatile and subject to regulatory uncertainties.

Tags: Donald Trump, Bitcoin ETF, Crypto Adoption, Mainstream Finance, Crypto Investments

Source: https://www.coindesk.com/markets/2025/02/06/trump-s-social-media-company-takes-steps-to-launch-bitcoin-etf

In a surprising move, Trump Media and Technology Group Corp. (TMTG), majority-owned by former U.S. President Donald Trump, has announced plans to launch bitcoin ETFs. This marks a significant shift in the company’s strategy and a major push into the world of cryptocurrency investments.

The entry of a former U.S. President’s company into the bitcoin ETF race is an unprecedented event that has the potential to disrupt traditional Wall Street dynamics. As one top analyst noted, “Safe to say first-ever POTUS ETF issuer. What a country.”

This move by Trump Media is likely to attract significant attention from both crypto enthusiasts and traditional investors alike. The launch of a bitcoin ETF by a company associated with a former U.S. President could lend further legitimacy to the cryptocurrency market and potentially drive increased institutional adoption.

Moreover, the involvement of a high-profile figure like Donald Trump in the crypto space could also spur renewed interest among retail investors who may have been hesitant to enter the market previously. This increased participation could lead to greater liquidity and trading volumes in the bitcoin market.

However, it remains to be seen how regulators will respond to this development, given the ongoing regulatory uncertainty surrounding cryptocurrencies in the United States. The approval of a bitcoin ETF backed by Trump Media could face additional scrutiny and hurdles compared to other applicants.

Tags: Trump Media, Bitcoin ETF, Cryptocurrency, Donald Trump, Wall Street

Source: https://news.bitcoin.com/trump-media-joins-bitcoin-etf-race-first-ever-potus-etf-issuer-to-disrupt-wall-street/

Nobel Prize-winning economist Eugene Fama has made a bold prediction about the future of Bitcoin, stating that the world’s largest cryptocurrency by market cap is headed towards zero. In a recent interview, Fama expressed his skepticism about Bitcoin’s value and utility.

“It’s only digital gold if it has a use. If it doesn’t have a use, it’s just paper. Not paper, it’s air, not even air,” Fama said, dismissing the notion of Bitcoin as a store of value or a viable alternative to traditional currencies.

Fama’s comments come at a time when Bitcoin has been experiencing significant volatility in the market. While some proponents argue that Bitcoin’s scarcity and decentralized nature make it a valuable asset, critics like Fama point to its lack of intrinsic value and practical applications.

The Nobel Laureate’s prediction, if it were to materialize, could have far-reaching implications for the crypto market. A collapse in Bitcoin’s price could lead to a domino effect, impacting other cryptocurrencies and potentially causing a broader market downturn.

However, it is important to note that Fama’s views are not universally shared within the economic community. Many experts believe that Bitcoin and other cryptocurrencies have the potential to revolutionize financial systems and provide new opportunities for innovation and financial inclusion.

As the debate surrounding Bitcoin’s future continues, investors and market participants will be closely monitoring developments in the regulatory landscape, institutional adoption, and technological advancements that could shape the trajectory of the cryptocurrency.

Tags: Bitcoin, Cryptocurrency, Nobel Laureate, Market Prediction, Crypto Skepticism

Source: https://decrypt.co/304715/nobel-laureate-bitcoin-zero

A new crypto sensation, MIND of Pepe (MIND), is taking the market by storm, combining cutting-edge AI trading technology with the viral appeal of meme coins. The project has already secured an impressive $5 million in presale funding, demonstrating strong investor confidence in its potential to revolutionize retail trading.

The success of MIND of Pepe highlights the growing interest in AI-powered trading solutions, as well as the enduring popularity of meme-inspired cryptocurrencies. By leveraging advanced algorithms and machine learning, MIND aims to provide retail traders with more sophisticated tools to navigate the volatile crypto market.

The substantial presale funding suggests that many investors believe in the project’s ability to bridge the gap between professional trading strategies and the accessibility of meme coins. As MIND of Pepe gains traction, it could potentially attract a new wave of retail traders seeking to capitalize on the power of AI while engaging with the lighthearted nature of meme culture.

However, it remains to be seen how effectively the AI trading tech will perform in real-world market conditions. Investors should be cautious and conduct thorough research before committing funds to any new project, especially in the rapidly evolving landscape of AI-driven crypto trading.

As MIND of Pepe moves forward, it will be important to monitor its development progress, partnerships, and the performance of its AI trading algorithms. If successful, this innovative approach could set a new standard for retail trading in the crypto space, combining the best of both worlds: cutting-edge technology and the viral appeal of meme culture.

Tags: MIND of Pepe, AI trading, meme coins, crypto trading, presale

Source: https://news.bitcoin.com/mind-of-pepe-combines-ai-trading-tech-with-meme-culture-raises-5-million-in-presale/

In a significant move, President Donald Trump’s social media company, Trump Media and Technology Group (TMTG), has announced its foray into the world of Bitcoin exchange-traded funds (ETFs) and financial services. The company has applied for trademarks associated with its upcoming financial products, which will be offered under the new Truth.Fi brand.

This development marks a strategic shift for TMTG as it aims to integrate financial services with its existing social media and video streaming platforms. By investing up to $250 million in partnership with Charles Schwab, TMTG is demonstrating its commitment to establishing a robust financial infrastructure that aligns with its ‘America First’ principles.

The launch of a Bitcoin ETF by a prominent figure like Donald Trump is likely to generate significant interest among investors and could potentially accelerate the mainstream adoption of cryptocurrencies. As the regulatory landscape for Bitcoin ETFs continues to evolve, TMTG’s entry into this space may provide a compelling alternative for investors seeking exposure to the digital asset market.

However, it is crucial to consider the potential risks and volatility associated with Bitcoin and other cryptocurrencies. At the time of writing, BTC is trading at $97,360, recording losses of nearly 8% in the weekly time frame. Investors should exercise caution and conduct thorough research before making any investment decisions.

TMTG’s move into the financial services sector represents a bold and ambitious step forward for the company. As it navigates the complexities of the Bitcoin ETF landscape and seeks to attract investors who align with its vision, the success of Truth.Fi will be closely watched by both the cryptocurrency community and the broader financial market.

Tags: Trump Media, Bitcoin ETF, Truth.Fi, Financial Services, America First

Source: https://bitcoinist.com/trump-begins-journey-to-launch-a-bitcoin-etf/

With President Trump’s pro-crypto stance and key appointments to the SEC, the US is signaling a strong embrace of cryptocurrencies. Analysts suggest that the market hasn’t fully priced in this positive sentiment, setting the stage for Bitcoin to potentially surge to new heights.

The shift in regulatory attitude could spur increased institutional adoption and mainstream acceptance of cryptocurrencies. As the largest and most well-known digital asset, Bitcoin stands to benefit greatly from this newfound support. Technical analysis also points to bullish indicators, with BTC holding strong above key resistance levels.

Beyond Bitcoin, the broader crypto market is poised for growth as well. Ethereum, the second-largest cryptocurrency, continues to dominate the DeFi and NFT spaces. With the upcoming ETH 2.0 upgrade, the network is set to address scalability concerns and further cement its position as a leading blockchain platform.

Other promising projects, such as Cardano and Polkadot, are also making significant strides in terms of development and partnerships. As the overall crypto ecosystem matures and gains legitimacy, a rising tide could lift all boats.

However, investors should remain cautious and do their own research before investing in any cryptocurrency. The market remains highly volatile and speculative, with regulatory risks and technological challenges still present. Diversification and risk management remain key strategies for navigating the crypto landscape.

As the US continues to warm up to cryptocurrencies, the stage is set for a potential bull run. With Bitcoin leading the charge and a robust ecosystem of projects and innovations, the future looks bright for the crypto market.

Tags: Bitcoin, Cryptocurrency, Trump, US Regulations, Crypto Adoption

Source: https://bitcoinist.com/5-new-crypto-to-add-to-your-portfolio-as-bitcoin/

According to recent reports from Cryptoquant, Bitcoin’s network activity has hit a one-year low, marking a significant decline from previous highs. The Bitcoin Network Activity Index, which tracks transactions and user engagement, has fallen by 15% since November 2024, now standing at 3,760.

This decrease in network activity suggests a potential cooling off in the Bitcoin market, with fewer transactions being processed and lower overall user engagement. The decline in activity could be attributed to a variety of factors, such as market saturation, decreased investor interest, or a shift in focus towards other cryptocurrencies.

The implications of this drop in network activity are worth noting for investors and market analysts. A sustained decline in network activity could potentially lead to a decrease in Bitcoin’s value, as demand for the cryptocurrency may be waning. However, it is important to consider that Bitcoin has previously experienced similar periods of reduced activity before rebounding to new highs.

For those closely monitoring the Bitcoin market, this development serves as a reminder to keep a close eye on key metrics and to consider the long-term trends rather than short-term fluctuations. While the current drop in network activity may be concerning, it is essential to view it within the broader context of Bitcoin’s historical performance and the overall cryptocurrency market landscape.

As always, investors should exercise caution and conduct thorough research before making any investment decisions. The cryptocurrency market is known for its volatility, and while the current decline in Bitcoin’s network activity is noteworthy, it is just one piece of the complex puzzle that is the crypto market.

Tags: Bitcoin, network activity, Cryptoquant, market analysis, cryptocurrency

Source: https://news.bitcoin.com/bitcoin-network-activity-plunges-to-one-year-low-cryptoquant-reports/

A crypto analyst has made a bold prediction that all XRP holders could potentially become millionaires. The analyst, known as Steph, bases this assertion on a historical analysis of XRP’s price action in 2017, suggesting that the altcoin could be poised for a similar bull run in the near future.

While this optimistic outlook has provided hope for many in the XRP community, it is not without challenges. Current market dynamics, including XRP’s recent 22% weekly decline, present a contrasting perspective. Steph’s prediction is largely based on the remarkable 802% surge XRP experienced from March to May 2017, followed by a similar 570% increase from November 2024 to January 2025.

For XRP holders to become millionaires, the token’s price would need to reach staggering levels. For example, a holder of 20 XRP would require the price to hit $50,000 per token, while a holder of 500 XRP would need a price of $2,000. While these figures demonstrate the potential impact of a massive surge, the feasibility of such price levels remains uncertain.

It’s important to note that not all analysts share Steph’s optimism. Some, like analyst Dom, point to deviations in XRP’s current price action compared to the 2017 trend, suggesting that the altcoin may be following a new path decoupled from historical patterns. Despite these differing opinions, XRP’s long-term prospects remain promising, with recent price fluctuations being viewed as normal market corrections.

As XRP continues to navigate the volatile crypto landscape, investors should approach bold predictions with caution and conduct thorough research before making investment decisions. While the potential for significant gains is alluring, the market’s unpredictability demands a measured and informed approach.

Tags: XRP price prediction, XRP millionaires, XRP bull run, XRP price analysis, XRP market dynamics

Source: https://www.newsbtc.com/analysis/xrp/bold-prediction-xrp-holders-on-the-path-to-millionaire-status-analyst/