Despite the glimmer of hope in BTC and ETH rally, analysts and investors alike, remain unconvinced about its sustainability.
Bitcoin and Ethereum have shown a strong upside over the last weekend. A strong weekly closing can result in a further price rally ahead this week.
All thanks to increasingly progressive regulations and more institutional involvement in both countries, Germany and the U.S. claim top spot in new ranking of most crypto-friendly countries.
It was observed that the funds going to mixers primarily comes from Darknet markets, hackers, North Korean Lazarus Group, Defi protocols, centralized exchanges, as well as addresses connected to illicit activities linked to sanctioned countries.
Crypto market turned volatile following the US CPI inflation data on Wednesday. Owing to four-decade high inflation the Fed is likely to initiate aggressive QT measures which can force investors to move away from risk-ON assets like crypto.
Chamath Palihapitiya spoke on Bitcoin and crypto issues, including inadequate regulation, off-chain transactions and high-risk staking.
The latest development from the regulatory body reportedly comes after the commission rejected Grayscale’s attempt to convert its Bitcoin trust into an ETF in June.
Arthur Hayes believes that because of the HODL culture 1 Bitcoin would eventually equal $1 million in about 8 years.
The SEC categorized Bitcoin Futures ETF and spot Bitcoin ETF as separate products.
Bitcoin critic Peter Schiff said that he would be accepting BTC if that were to save customers of his now embattled bank Euro Pacific.
Recently, CoinGecko data disclosed that $2 trillion has been wiped off the market value for cryptocurrencies since last year.
Additional reports from the analyst stated that this is the most recent in a string of fakeouts that will deceive many traders into thinking the bottom is in when, in fact, the trend is still downward.
It is important to note that all qualified users of the Robinhood app who have direct access to the WebWallets functionalities are eligible for this new support.
CleanSpark joins the list of Bitcoin miners to liquidate their BTC to cover costs. The company continues to use the proceeds of sale to buy more mining rigs and expand further.
The crypto industry has lost two-thirds of its market capitalization in eight months.