Category: News

Bitcoin and the broader crypto market experienced a sharp decline amidst fears of a U.S. trade war, only to swiftly recover following reports of President Trump’s negotiations with Mexico and Canada to lift tariffs. While this turnaround has brought renewed optimism, volatility remains high.

Amid this turbulence, the Bitcoin Funding Rate has turned negative for the seventh time in a year, according to CryptoQuant. Historically, each of the previous six instances has signaled a strong bullish momentum for BTC, suggesting that traders have turned overly bearish—often a precursor to a sharp rebound.

Bitcoin’s resilience in the face of the recent selloff highlights its potential for a significant rally, reinforcing its long-term bullish outlook despite short-term uncertainty. The current macro environment, with key developments in the U.S. favoring crypto adoption, a pro-crypto president in office, and the final year of the halving cycle unfolding, sets the stage for potential explosive growth.

As Bitcoin consolidates below the $100K mark, traders are closely watching key support and resistance levels. Reclaiming the $100K level as strong support would be the first step toward a renewed push into price discovery, while a break below the critical $98K support could introduce further uncertainty. To fully regain bullish momentum, BTC must decisively break above the $103,600 resistance.

The coming days will be crucial in shaping Bitcoin’s short-term trend and determining whether the market continues its upward trajectory. If historical patterns hold, the current negative Funding Rate could set the stage for another significant rally, solidifying Bitcoin’s dominance as it leads the next phase of the market cycle.

Tags: Bitcoin, Crypto Market, Bitcoin Funding Rate, Market Analysis, Technical Analysis

Source: https://bitcoinist.com/bitcoin-funding-rate-turns-negative-for-the-7th-time-in-a-year-every-previous-drop-led-to-gains/

In a significant development for the digital asset industry, U.S. Senate and House lawmakers have joined forces to establish a powerful crypto working group. The aim of this bicameral initiative is to create a comprehensive regulatory framework that will drive innovation, expand financial access, and secure America’s global leadership in the crypto space.

The formation of this working group comes at a crucial time for the crypto industry, as regulatory clarity has been a long-standing challenge. By bringing together lawmakers from both chambers of Congress, this initiative demonstrates a strong commitment to developing a cohesive and forward-thinking approach to crypto regulation.

The implications of this development are significant for the crypto market. A clear and supportive regulatory environment is essential for fostering innovation and attracting institutional investors. With lawmakers actively collaborating to shape crypto policy, it sends a positive signal to the market and could potentially unlock new growth opportunities.

As the working group progresses, it will be important to strike a balance between protecting consumers and promoting innovation. Overregulation could stifle growth and drive businesses offshore, while underregulation could leave investors vulnerable to fraud and manipulation. Finding the right equilibrium will be key to ensuring the long-term success of the crypto industry in the United States.

The establishment of this crypto working group is a testament to the growing recognition of digital assets as a legitimate and important part of the financial landscape. As lawmakers work to create a comprehensive regulatory framework, it will not only benefit the crypto industry but also position the United States as a global leader in this rapidly evolving space.

Tags: Crypto Regulation, US Lawmakers, Digital Assets, Innovation, Global Leadership

Source: https://news.bitcoin.com/lawmakers-launch-powerful-crypto-working-group-to-shape-us-policy/

In the face of recent market turbulence, Bitcoin has once again demonstrated its strength and resilience compared to altcoins. Despite a sharp 9% drop on fears of a U.S. trade war, Bitcoin swiftly rebounded by over 12% following reports of ongoing negotiations to lift tariffs. This rapid recovery highlights Bitcoin’s dominance and ability to weather market uncertainty.

Top analyst Daan’s technical analysis on X underscores Bitcoin’s robust performance, noting that BTC remains significantly stronger than other assets in the market. Even amid aggressive selling pressure, Bitcoin has maintained its overall uptrend and structural integrity, supported by strong demand levels that prevent deeper corrections.

As Bitcoin trades back above key levels, investors are closely monitoring its ability to sustain momentum and potentially push towards new all-time highs. The coming days will be crucial in determining whether Bitcoin can further solidify its position as the leading cryptocurrency or face additional volatility tests.

Institutional interest continues to be a driving force behind Bitcoin’s dominance, with on-chain data revealing ongoing accumulation by whales and large holders. Unlike previous market cycles primarily fueled by retail investors, the current rally appears to be backed by institutions and long-term holders, providing a more sustainable foundation for growth.

Bitcoin is currently testing crucial support levels below the $100K mark, with key zones at $98K and $90K. Maintaining these levels is essential for confirming short-term strength and setting the stage for a potential breakout. However, to fully regain bullish momentum, Bitcoin must decisively reclaim and hold above the $103,600 resistance level, which could open the door for a significant rally towards new all-time highs.

As the market continues to evolve, Bitcoin’s resilience and ability to outperform altcoins underscore its position as the leading cryptocurrency. Investors and traders alike will be keeping a close eye on Bitcoin’s price action, as its movements have the potential to shape the broader crypto market sentiment and trajectory.

Tags: Bitcoin, market volatility, altcoins, technical analysis, institutional interest, Bitcoin dominance

Source: https://www.newsbtc.com/bitcoin-news/bitcoin-looks-stronger-compared-to-altcoins-demand-remains-strong-as-price-consolidates-in-a-range/

The XRP Ledger experienced a temporary halt in block production on Monday, as reported by Ripple CTO David Schwartz. Early analysis suggests that the issue stemmed from a consensus problem where validations were not being published as expected.

This incident highlights the importance of robust consensus mechanisms in blockchain networks. While the XRP Ledger is designed to be resilient and secure, occasional hiccups can occur due to various factors such as network congestion, software bugs, or unexpected validator behavior. It is crucial for blockchain developers and node operators to closely monitor the network health and promptly address any issues that arise.

The temporary halt in block production may have had a short-term impact on XRP transactions and liquidity. However, as the issue appears to have been resolved relatively quickly, the long-term implications are likely to be minimal. Investors and traders should keep an eye on any official updates from Ripple regarding the incident and any potential measures being taken to prevent similar occurrences in the future.

It is worth noting that despite occasional challenges, the XRP Ledger has maintained a strong track record of reliability and performance over the years. The network’s unique consensus algorithm, which relies on a set of trusted validators, has proven to be effective in ensuring the integrity and security of transactions.

As the blockchain industry continues to evolve, it is essential for projects like Ripple to remain vigilant and proactive in identifying and addressing potential vulnerabilities. By doing so, they can maintain the trust and confidence of their users and contribute to the overall stability and growth of the cryptocurrency ecosystem.

Tags: XRP Ledger, Ripple, block production, consensus, network health

Source: https://decrypt.co/304451/xrp-ledger-temporarily-halts-block-production-ripple-cto

Crypto analysts are turning bullish on Dogecoin (DOGE) as the meme coin shows signs of a potential breakout above the key $0.30 resistance level. TradingShot, a popular analyst on TradingView, has identified a ‘channel down’ formation on DOGE’s chart, suggesting that a bounce towards $0.38 could be on the horizon.

The recent downtrend in the broader crypto market hit Dogecoin particularly hard, with the coin dropping 40% to lows around $0.20. However, the sell-off pushed DOGE into oversold territory, and the coin has since recovered some ground following a pause in tariffs between the US, Mexico, and Canada.

TradingShot notes that if the current pattern is a 1-day channel down, then the recent low of $0.20 could mark a bottom, similar to the December 2024 low that saw DOGE rebound towards the 0.786 Fibonacci retracement level. With DOGE trading within a 2-month channel down that may be a bull flag on a wider scale, a breakout above $0.30 could signal the start of a new bullish leg.

Other analysts share this optimism, with Kevin Capital stating that DOGE may have just completed its second major correction of the bull cycle and could be poised to begin the next leg up. Trader Tardigrade also points to a bullish MACD crossover on the 4-hour chart as evidence that DOGE is gaining upward momentum.

A decisive break above $0.30 would be a significant milestone for Dogecoin, potentially opening the door for a retest of the coin’s previous highs. However, the meme coin’s fate remains closely tied to the broader market sentiment, particularly that of Bitcoin. If BTC can maintain its upward trajectory, DOGE may have a clear path to continue its bull run.

As always, traders and investors should exercise caution and practice proper risk management when trading volatile assets like cryptocurrencies. While the technical analysis may suggest a bullish outlook for DOGE, the market remains unpredictable, and sudden shifts in sentiment can quickly invalidate even the most promising setups.

Tags: Dogecoin, DOGE, price prediction, technical analysis, crypto market, bullish crossover, Fibonacci retracement, meme coin

Source: https://bitcoinist.com/dogecoin-bounce-above-0-3-ahead/

In a significant move, U.S. Representative William Timmons has demonstrated his support for Ethereum by creating a self-custodial wallet and showcasing it on his X (formerly Twitter) profile. This development highlights the growing interest and adoption of blockchain technology among policymakers.

Rep. Timmons stated that his motivation for creating the Ethereum wallet was to gain hands-on experience with the technology that enables financial sovereignty. By taking this step, he aims to better understand the implications and potential of decentralized finance (DeFi) and its impact on the future of money.

The congressman’s embrace of Ethereum sends a positive signal to the cryptocurrency market, indicating a growing acceptance and understanding of blockchain technology among legislators. This move could pave the way for more informed discussions and decision-making regarding cryptocurrency regulations in the United States.

As more policymakers become familiar with blockchain technology and its applications, it is likely that we will see increased efforts to create a regulatory framework that fosters innovation while protecting consumers. Rep. Timmons’ actions demonstrate a proactive approach to understanding and engaging with this emerging technology.

The creation of a self-custodial Ethereum wallet by a U.S. congressman also highlights the importance of individual control and ownership in the realm of digital assets. By taking custody of his own funds, Rep. Timmons is showcasing the core principles of decentralization and financial autonomy that underpin the cryptocurrency ecosystem.

Tags: Ethereum, US Congress, self-custody, blockchain adoption, cryptocurrency regulation

Source: https://decrypt.co/304425/meet-us-congressman-repping-ethereum-x-profile

The recent crypto market turbulence has caused Bitcoin to plummet below the crucial $100,000 level, triggering panic among short-term investors. However, data from blockchain analytics firm Glassnode reveals that long-term Bitcoin holders remain largely unaffected by the price slump.

While short-term holders experienced significant losses, with nearly 11% of their BTC supply in the red, long-term investors have shown remarkable resilience. Glassnode noted that only 0.01% of the long-term holders’ supply was in loss, highlighting their ability to weather market volatility.

The current market sentiment appears bearish, with Bitcoin briefly dipping to $91,200 before recovering to around $96,000. Market intelligence platform Santiment attributed the overall market decline to the ongoing trade war initiated by President Trump, which has impacted global stock markets.

The market reaction to Bitcoin’s price drop has been overwhelmingly negative, with many investors expressing concern about the potential onset of a bear market. However, it is crucial to note that historically, markets tend to move in the opposite direction of crowd expectations.

Technical analysis suggests that the $97,000 support level is critical for Bitcoin to maintain its bullish momentum. A failure to hold above this level could put the entire bull market at risk, potentially leading to further downside.

As the market navigates this volatile period, investors should keep a close eye on key support levels and be prepared for potential further downside. However, the resilience shown by long-term holders suggests that Bitcoin’s fundamental value proposition remains intact, and the current dip may present a buying opportunity for those with a longer investment horizon.

Tags: Bitcoin price, market volatility, long-term holders, short-term investors, trade war, technical analysis

Source: https://www.newsbtc.com/news/bitcoin/bitcoin-100k-breakdown-spells-trouble-for-short-term-investors-study/

According to a recent claim by pseudonymous onchain analyst Zachxbt, Coinbase users are losing over $300 million annually to scam artists, with many of the victims being elderly. The analyst alleges that America’s largest cryptocurrency exchange has failed to adequately protect its users from these scams.

This revelation raises serious concerns about the security measures and user protection policies in place at Coinbase. As one of the most prominent and trusted exchanges in the industry, Coinbase has a responsibility to safeguard its users’ funds and prevent fraudulent activities on its platform.

The potential market implications of this news could be significant. If users lose trust in Coinbase’s ability to protect their assets, it may lead to a decline in trading volume and a shift towards alternative exchanges perceived as more secure. Additionally, regulatory authorities may scrutinize Coinbase’s practices more closely, potentially leading to increased compliance requirements and oversight.

To address this issue, Coinbase must take swift and decisive action to enhance its security measures, educate users about potential scams, and implement robust fraud detection and prevention mechanisms. Failure to do so could result in reputational damage, loss of market share, and erosion of user confidence in the exchange.

As the cryptocurrency industry continues to mature, exchanges like Coinbase will need to prioritize user protection and security to maintain their position as trusted platforms for buying, selling, and storing digital assets. This incident serves as a reminder of the ongoing challenges in combating scams and ensuring a safe environment for all participants in the crypto ecosystem.

Tags: Coinbase, Scams, User Protection, Exchange Security, Crypto Fraud

Source: https://news.bitcoin.com/coinbase-users-are-losing-300m-annually-to-scam-artists-analyst-says/

Paul Grewal, Coinbase’s Chief Legal Officer, is set to testify at a critical Senate hearing focused on allegations of regulatory agencies deliberately limiting crypto firms’ access to banking services. The hearing, dubbed “Operation Chokepoint 2.0,” comes amidst growing concerns about unfair treatment of the cryptocurrency industry.

Grewal, known for his advocacy of transparent crypto regulations, is expected to defend the industry against what many consider to be unjust regulatory actions. Documents obtained through FOIA requests suggest that the FDIC may have instructed banks to restrict dealings with crypto-related organizations, drawing comparisons to the controversial “Operation Chokepoint” that allegedly targeted legitimate but politically unpopular businesses.

The outcome of this hearing could have significant implications for the U.S. cryptocurrency market. If lawmakers recognize that excessive regulation is stifling the sector, it could pave the way for more equitable policies. However, if the hearing results in further investigation without concrete action, crypto companies may continue to face regulatory ambiguity and banking access challenges.

Coinbase, one of the world’s largest exchanges, has consistently maintained that the U.S. risks falling behind in the global crypto landscape due to its inconsistent regulatory approach. Grewal’s testimony is expected to reinforce Coinbase’s call for fair and transparent regulatory treatment, as the company itself has faced various regulatory challenges, including litigation from the SEC.

The cryptocurrency industry eagerly awaits the outcome of this hearing, as it could shape the future of crypto regulation in the United States. A favorable outcome could provide much-needed clarity and support for the growth of the sector, while an unfavorable one may perpetuate the current challenges faced by crypto businesses.

Tags: Coinbase, Crypto Regulation, Senate Hearing, Operation Chokepoint 2.0, Banking Access

Source: https://bitcoinist.com/coinbase-legal-chief-to-defend-crypto-in-high-stakes-hearing/

Berachain, a highly anticipated blockchain project, is set to launch its novel proof-of-liquidity consensus mechanism this week. As the crypto community eagerly awaits this release, it’s crucial for enthusiasts and investors to understand what this means and how to prepare.

The proof-of-liquidity consensus introduces a new approach to blockchain security and validation, focusing on the liquidity of assets within the network. This mechanism aims to provide a more efficient and secure way of processing transactions while incentivizing participation through liquidity rewards.

The launch of Berachain’s mainnet is expected to draw significant attention from the crypto community, potentially leading to increased demand for the project’s native token. As the blockchain goes live, it will be important to observe how the market reacts and whether the proof-of-liquidity model lives up to its promises.

For those looking to participate in the Berachain ecosystem, it’s essential to research the project thoroughly, understand the tokenomics, and assess the potential risks and rewards. As with any new blockchain project, it’s crucial to exercise caution and make informed decisions based on your investment goals and risk tolerance.

The successful implementation of Berachain’s proof-of-liquidity mechanism could pave the way for more innovative approaches to blockchain consensus and open up new possibilities for decentralized finance (DeFi) applications. As the project evolves, it will be interesting to see how it competes with established blockchains and whether it can attract a strong developer community.

Tags: Berachain, Proof-of-Liquidity, Blockchain, Consensus Mechanism, Crypto

Source: https://decrypt.co/resources/how-to-prepare-for-berachain-the-novel-proof-of-liquidity-blockchain