Category: News

In a move to tighten its grip on the cryptocurrency mining industry, Russia has introduced new regulations requiring miners to report their earnings to the Federal Tax Service (FNS) by the 20th of each month. The law, which came into effect on February 3, 2025, restricts mining activities to approved entities and bars those with a history of financial crimes from participating.

This development marks a significant shift in Russia’s approach to crypto mining oversight. By demanding monthly earnings reports, the government aims to increase transparency and prevent illegal activities within the industry. The move is expected to reshape the mining landscape in Russia, with only compliant entities being allowed to operate.

The market implications of this new law are notable. Legitimate mining operations in Russia may face increased compliance costs and regulatory burdens. However, the long-term impact could be positive, as the industry gains more credibility and attracts institutional investors. On the other hand, the restrictions on mining participants with a history of financial crimes could limit the pool of available miners and potentially impact the overall hash rate coming from the region.

As Russia tightens its control over the crypto mining sector, it remains to be seen how the industry will adapt and evolve. Mining companies operating in the country will need to navigate the new regulatory landscape carefully to ensure compliance and avoid penalties. The increased oversight may also prompt some miners to relocate to jurisdictions with more favorable regulations.

Tags: Russia crypto mining, crypto mining regulations, crypto earnings reports, mining oversight

Source: https://news.bitcoin.com/russia-enforces-crypto-mining-oversight-miners-must-report-earnings/

The Dogecoin price has recently experienced a notable 34% correction, settling at $0.259. Despite this downturn, many analysts remain optimistic about the market’s largest memecoin potential for recovery, suggesting that the Dogecoin price could see new highs as the bullish cycle progresses.

Crypto analyst Dima Potts believes that if the current pullback stabilizes, the market could be poised to target all-time highs ranging between $1.50 and $2.10. Potts also noted a historical correlation in the Dogecoin price cycles, with each cycle peaking 1,442 days after the previous high. If this pattern holds true, the Dogecoin price could reach its next peak around the week of April 14th.

Potts further posited that growing adoption, increasing institutional interest, and ongoing technological improvements could bolster the Dogecoin price performance, potentially allowing it to exceed previous highs. His analysis suggests that the memecoin could even reach unprecedented levels above $400 per token, translating to a massive surge of 154,400% in the coming months.

However, not all analysts share this optimistic perspective. Technical analyst Grumlin has issued a cautionary note, predicting that the Dogecoin price may dip to the $0.02 level in the near term, representing a notable 92% crash for the memecoin. Despite this short-term bearish outlook, Grumlin believes that a rebound from an ascending support line is likely, which could set the stage for a subsequent upward breakout.

As Dogecoin currently trades at $0.259, with losses of 21% and 27% on the seven-day and fourteen-day time frames, respectively, investors are closely watching to see which scenario will unfold. If Potts’ bullish predictions come to fruition, Dogecoin could be on the verge of a monumental price surge. However, if Grumlin’s cautionary outlook proves accurate, the memecoin may face further short-term losses before any potential rebound.

Tags: Dogecoin price prediction, DOGE price analysis, cryptocurrency market, memecoin trends, altcoin forecasts

Source: https://www.newsbtc.com/dogecoin-2/expert-predicts-dogecoin-price-recovery-targeting-new-heights-between-1-5-and-2/

In a recent development, Korea Financial Investment Association (Kofia) Chairman Seo Yoo-seok has urged the approval of cryptocurrency spot exchange-traded funds (ETFs) and the formal recognition of security tokens in South Korea. This move comes as the country aims to maintain its competitive position in the rapidly evolving global crypto landscape, particularly in light of the pro-crypto policies implemented by the U.S. under President Donald Trump’s administration.

The push for crypto ETFs in South Korea is driven by the desire to keep pace with other nations, such as the United States, where the Securities and Exchange Commission (SEC) has already approved Bitcoin and Ethereum spot ETFs. By following suit, South Korea hopes to enhance market transparency, attract greater institutional participation, and solidify its role as a leader in digital asset adoption.

Moreover, the approval of cryptocurrency ETFs is seen as a way to provide a testing ground for both millennials and older generations interested in investing in virtual assets. By offering a regulated and globally recognized investment vehicle, such as Bitcoin and Ethereum ETFs, investors can participate in the crypto market with greater comfort and peace of mind.

The call for cryptocurrency ETFs aligns with a broader push to institutionalize security tokens in South Korea. Kofia plans to engage with financial regulators this year, advocating for the inclusion of Bitcoin and Ethereum spot ETFs within the nation’s financial framework. This move could potentially attract greater institutional investment, enhance liquidity, and promote a more robust digital asset ecosystem.

As South Korea navigates the evolving crypto landscape, the approval of cryptocurrency ETFs and the recognition of security tokens could play a crucial role in the country’s financial future. With the potential for increased institutional participation and a more regulated investment environment, South Korea aims to solidify its position as a key player in the global crypto market.

Tags: South Korea crypto, crypto ETFs, security tokens, institutional investors, crypto regulation

Source: https://bitcoinist.com/south-koreas-approval-crypto-etfs-whats-at-stake/

XRP price has been facing challenges in sustaining its upward momentum above the crucial $2.60 resistance level. Despite starting a strong recovery wave above the $2.00 support zone, the price has struggled to keep pace with other major cryptocurrencies like Bitcoin and Ethereum.

The bulls managed to push the price above the $2.60 level, but the bears remained active near the $2.75 zone, causing the price to dip. The XRP/USD pair is now trading below the $2.60 level and the 100-hourly Simple Moving Average, with a bearish trend line forming resistance at $2.60 on the hourly chart.

If XRP fails to clear the $2.60 resistance zone, it could potentially start another decline. The initial support on the downside is near the $2.260 level, followed by the $2.150 level. A downside break and close below the $2.150 level might lead to a further decline toward the $2.050 and $2.00 support zones.

On the other hand, if the price manages to clear the $2.60 resistance, it could start a fresh increase. The next major resistance levels to watch out for are $2.70, $2.780, and potentially even $2.940. Any further gains might send the price toward the psychological $3.000 resistance or even $3.050 in the near term.

The technical indicators suggest that the MACD for XRP/USD is gaining pace in the bearish zone, while the RSI is currently below the 50 level. These indicators hint at a potential bearish momentum in the short term.

In conclusion, XRP price is at a critical juncture, and its ability to overcome the $2.60 resistance will be crucial in determining its future trajectory. Traders and investors should keep a close eye on the key support and resistance levels to navigate the market effectively.

Tags: XRP price, XRP/USD, Ripple, cryptocurrency market, technical analysis

Source: https://www.newsbtc.com/analysis/xrp/xrp-price-struggles-2-70/

Standard Chartered’s head of digital assets research, Geoffrey Kendrick, has shared a bold 5-year forecast for Bitcoin, predicting the cryptocurrency could reach a staggering $500,000 by the end of 2028. The projection is based on expectations of rising institutional inflows, declining volatility, and regulatory shifts under the Trump administration that could expand investor access to the asset class.

The potential for Bitcoin to hit such lofty heights is tied to several key factors. First, increased institutional adoption and inflows could provide a significant boost to demand and liquidity. As more large investors and financial institutions allocate funds to Bitcoin, the market could see a sustained upward trajectory. Additionally, if volatility continues to decline as the market matures, it could make Bitcoin a more attractive and stable investment option.

Perhaps most importantly, the regulatory landscape under President Trump could play a pivotal role in Bitcoin’s future. If the administration takes a more favorable stance towards cryptocurrencies and introduces policies that facilitate wider investor access, such as approving Bitcoin ETFs, it could open the floodgates for mainstream adoption. This, in turn, could drive prices to new all-time highs.

However, it’s important to note that such projections are highly speculative and subject to numerous risks and uncertainties. The cryptocurrency market remains highly volatile and sensitive to regulatory developments, and there’s no guarantee that the stars will align for Bitcoin to reach $500,000 within the next five years. Nevertheless, Standard Chartered’s forecast provides an intriguing glimpse into one potential scenario for Bitcoin’s future, and highlights the growing institutional interest and optimism surrounding the world’s largest cryptocurrency.

Tags: Bitcoin price prediction, Standard Chartered, institutional adoption, crypto regulations, Bitcoin ETFs

Source: https://news.bitcoin.com/standard-chartered-shares-5-year-bitcoin-forecast-sees-btc-at-500k-by-2028/

MicroStrategy, a prominent software company and the largest corporate holder of Bitcoin, has announced a major rebranding initiative. The company will now be known as ‘Strategy’, reflecting its concentrated focus on Bitcoin and its positioning as the world’s leading Bitcoin Treasury Company. This strategic evolution aligns with the company’s broader appeal in the rapidly evolving cryptocurrency space.

The rebranding signifies Strategy’s commitment to its Bitcoin strategy, with the new brand identity featuring a stylized ‘B’ and an orange color scheme that embodies the essence of Bitcoin. Over the past year, the company has aggressively pursued Bitcoin acquisitions, raising significant capital through convertible bond sales to fund these purchases. As a result, Strategy now holds an impressive 471,107 BTC, solidifying its position as the largest corporate holder of the asset globally.

The company’s co-founder and executive chairman, Michael Saylor, emphasized that the new name encapsulates the essence of the company’s mission and aligns with its pursuit of excellence. Saylor further articulated that Strategy is at the forefront of two transformative technologies: Bitcoin and artificial intelligence. The rebranding aims to convey the universal appeal of the company and the value it brings to its stakeholders.

This strategic shift towards Bitcoin has had a significant impact on the company’s market performance. Since the election of President Donald Trump, Bitcoin has surged nearly 40%, and Strategy’s shares have risen approximately 50%. The company’s aggressive Bitcoin accumulation has drawn comparisons to meme stocks, as it consistently buys the cryptocurrency in significant amounts, even as it reaches new all-time highs.

As Strategy embarks on this new chapter, the market will closely watch how the company’s Bitcoin-centric approach influences its financial performance and the broader cryptocurrency landscape. With Bitcoin currently trading at $97,300 and experiencing a 7% decline in the past week, Strategy’s rebranding and earnings call will provide valuable insights into the company’s future direction and its impact on the market.

Tags: MicroStrategy, Bitcoin, Cryptocurrency, Rebranding, Corporate Bitcoin Holdings

Source: https://bitcoinist.com/microstrategy-rebrands-ahead-of-q4-earnings/

Ethereum price has started a promising recovery, surging past the $2,650 resistance level and showing signs of further upside potential. The second-largest cryptocurrency by market cap has been underperforming Bitcoin recently but appears to be regaining its footing.

After bottoming out at $2,120, Ethereum has staged an impressive comeback, breaking above key resistance levels such as $2,550 and $2,650. The price action also saw a break above a short-term declining channel on the hourly chart, indicating a shift in sentiment towards the bullish side.

However, Ethereum is currently facing hurdles near the $2,840 level and the 100-hourly Simple Moving Average. If the bulls can overcome this resistance, the next target would be the $2,880 level, followed by the critical $2,920 zone, which coincides with the 61.8% Fibonacci retracement level of the recent downswing from $3,400 to $2,120.

A convincing break above $2,920 could pave the way for a retest of the psychological $3,000 barrier. If the bullish momentum persists, Ethereum might even extend its gains towards the $3,120 resistance zone or higher in the near term.

On the flip side, if Ethereum fails to clear the $2,840 resistance, it could trigger another round of selling pressure. The initial support on the downside lies near the $2,700 level, followed by the $2,640 zone. A breach below these support levels might invite further losses, potentially pushing the price towards $2,550 or even $2,500.

The hourly MACD is gaining momentum in the bullish zone, while the hourly RSI has climbed above the 50 level, supporting the bullish outlook for Ethereum in the short term. However, traders should remain cautious and watch for any signs of weakness, as the market remains volatile and prone to sudden reversals.

As Ethereum attempts to reclaim lost ground, its performance in the coming days could set the tone for the broader altcoin market. A sustained recovery in Ethereum prices might encourage investors to rotate funds into other altcoins, potentially leading to a more widespread rally. On the other hand, if Ethereum’s rally falters, it could dampen sentiment and lead to further consolidation or correction in the altcoin space.

Tags: Ethereum price, ETH recovery, bullish momentum, resistance levels, support zones

Source: https://www.newsbtc.com/analysis/eth/ethereum-price-higher-levels-3000/

Bitcoin’s price recovery appears to be losing steam as it faces resistance below the $100,500 zone. The leading cryptocurrency started a fresh decline below the key $100,000 level and is currently trading below the $98,800 mark and the 100-hour Simple Moving Average.

Technical analysis indicates a bearish trend line forming with resistance at $98,000 on the BTC/USD hourly chart. If Bitcoin fails to break through this resistance, it could lead to further losses, with immediate support levels at $96,500 and $95,400. The MACD is gaining pace in the bearish zone, while the RSI is below the 50 level, suggesting bearish momentum.

The current price action indicates that Bitcoin is struggling to maintain its recent gains and could be headed for a deeper correction. A close above the $100,000 resistance level might send the price higher, potentially testing the $102,500 and $103,500 levels. However, if the bearish trend persists, Bitcoin could dip towards the $95,000 support level in the near term.

The market implications of this price action suggest that investors and traders should exercise caution in the short term. The failure to sustain the recovery above $100,000 could lead to increased selling pressure and further downside. It is crucial to monitor key support and resistance levels closely and adapt trading strategies accordingly.

Tags: Bitcoin price, cryptocurrency market, technical analysis, market sentiment, price resistance

Source: https://www.newsbtc.com/news/bitcoin-price-recovery-loses-steam-100k/

David Sacks, appointed as the ‘Crypto Czar’ under the Trump administration, has suggested that the U.S. sovereign wealth fund could potentially stockpile bitcoin as a strategic reserve asset. This comes as officials explore the cryptocurrency’s role in the nation’s financial landscape.

The potential inclusion of bitcoin in the U.S. sovereign wealth fund could have significant implications for the crypto market. As one of the largest sovereign wealth funds globally, an allocation to bitcoin would not only provide validation for the cryptocurrency but also potentially drive substantial capital inflows.

Moreover, this move could set a precedent for other nations to consider similar allocations, further legitimizing bitcoin as a mainstream asset class. The increased institutional adoption could contribute to reduced volatility and enhanced stability in the crypto market over the long term.

However, it is essential to note that the decision to include bitcoin in the sovereign wealth fund would likely face regulatory hurdles and require a comprehensive risk assessment. Policymakers would need to weigh the potential benefits against the risks associated with the cryptocurrency’s price volatility and the need for robust custody solutions.

As the discussion surrounding bitcoin’s potential role in the U.S. sovereign wealth fund unfolds, market participants will closely monitor developments, as the implications could be far-reaching for the crypto industry.

Tags: Bitcoin, U.S. Sovereign Wealth Fund, Crypto Czar, David Sacks, Institutional Adoption

Source: https://news.bitcoin.com/us-sovereign-wealth-fund-could-stockpile-bitcoin-trumps-crypto-czar-says/

Ethereum experienced extreme volatility last Monday, plunging over 30% in under 24 hours amid escalating trade war fears before rebounding sharply. Despite the recovery, ETH remains significantly weaker than other altcoins, trading at historically low levels relative to Bitcoin.

Top analyst Carl Runefelt’s technical analysis reveals that Ethereum is holding a critical horizontal support level around 0.028 on the ETH/BTC chart. This key juncture could mark a turning point for ETH. If the support holds and bulls step in, it may trigger a massive parabolic move, potentially igniting the long-awaited alt season. However, failure to hold this level could indicate further downside ahead.

Ethereum’s underperformance has raised concerns among investors, with sentiment remaining mixed as the market awaits a clear confirmation of trend direction. The next few weeks will be crucial in determining whether ETH can start catching up to its peers or if another leg down is on the table.

On the ETH/USD chart, Ethereum is trading at $2,780 after testing the critical 200-day moving average at $2,482 and the 200-day exponential moving average at $2,288. These long-term support levels have held since July 2020, confirming that Ethereum’s macro trend remains intact despite recent volatility.

For Ethereum to reverse the short-term bearish trend and signal renewed strength, bulls must reclaim the $2,800 mark and hold it as support. A push above the psychological $3,000 resistance would further shift sentiment from bearish to bullish, potentially triggering a move into key supply zones and setting the stage for a major rally in the coming months.

Tags: Ethereum, ETH/BTC, Ethereum price, technical analysis, support levels, resistance, trend reversal

Source: https://www.newsbtc.com/news/ethereum/ethereum-is-testing-key-support-on-the-eth-btc-chart-a-parabolic-move-could-be-next/