Cardano and Ethereum co-founder Charles Hoskinson has shared his thoughts on the assassination attempt on Donald Trump.

He believes that the long-term solution is with the principles of crypto, such as disintermediation, decentralization, resilience, and integrity.

Yesterday, Trump was targeted in an assassination attempt. The bullets narrowly missed him, grazing his right ear. If he hadn’t moved his head at that precise moment, he might have been killed.

Unfortunately, a person behind Trump was killed, and two others were injured. The shooter was also killed during the attempt to stop him.

Credits: BBC

Charles said that what happened, while shocking, is not entirely surprising given the current state of American politics.

He believes that the political discourse in the United States has gone from legitimate differences of opinion to a mentality where those who disagree are seen as enemies that must be destroyed. This radicalization of opinions leads to political violence.

Charles also discussed the role of social media in this incident. He mentioned that some of the first reactions on social media were not thoughts and prayers but comments expressing disappointment that the shooter missed. He said, 

“It’s pretty sad that people wish for the death of those that they disagree with.”

Charles believes that social media and instant communication have led to people viewing others not as human beings but as characters to either love or hate. This dehumanization makes it impossible for meaningful political change to occur. He said: 

“We must take a moment of reflection if we ever hope to get out of all of this and realize that while we can be divisive at times, we should never lose sight of our common shared humanity.”

According to Charles, the next 48 to 72 hours are gonna be very important for American history. He believes that the lack of trust in centralized institutions, including political ones, is a major problem. He added that:

“We’ve gotten to a point where no matter who leads, no matter what they do, what they accomplish, we are unable to fully trust them for a variety of reasons. Politics is no different. In fact, it’s the epicenter of all such things.”

Regardless of the election outcome, Charles predicts that there will be bitter division moving forward. He urges people to consider the benefits of decentralization, which does not rely on individual leaders who can be targeted or demonized.

He stated, “There’s no one to shoot. There’s no one to demonize. There’s no one to canonize.”

Spot Ether exchange-traded funds (ETFs) are poised for imminent regulatory approval, with industry insiders suggesting listings could commence as early as next week.

According to a knowledgeable source, who preferred anonymity due to the confidentiality of discussions, issuers anticipate receiving final feedback from the United States Securities and Exchange Commission (SEC) by early next week, possibly as soon as July 12.

Among the entities awaiting SEC approval are prominent names such as VanEck and 21Shares, which recently amended their registrations in anticipation of regulatory green lights.

In total, eight issuers are awaiting clearance to launch spot Ether ETFs.

Analysts foresee substantial market interest once these ETFs hit the exchanges, predicting potential inflows totaling billions of dollars in the months following their debut.

Crypto analyst Tom Dunleavy highlighted the unique dynamics of Ether’s market, noting that its spot price could see significant appreciation due to reduced availability on exchanges, leading to thinner order books and heightened responsiveness to ETF-driven buying pressures compared to Bitcoin.

A key driver of demand for these ETFs is expected to come from crypto-native hedge funds, which have held substantial amounts of spot ETH in self-custody for years.

READ MORE: German Government Resumes Bitcoin Sales, Sparking Market Volatility Concerns

Reports indicate these funds are now engaging with institutional market makers, such as Virtu Financial, to exchange their ETH holdings for shares in the upcoming ETFs.

According to the source, over a dozen crypto-native funds with assets under management exceeding $1 billion each have expressed interest in participating in these exchanges.

The launch of spot Ether ETFs would complement the existing array of publicly traded crypto funds, which include approximately a dozen spot Bitcoin ETFs that received regulatory clearance earlier this year, collectively holding more than $50 billion worth of BTC.

Dunleavy suggested that Ether ETFs could attract as much as $10 billion in inflows once launched, underscoring the potential market impact.

Looking ahead, similar ETFs for other cryptocurrencies like Solana may soon follow suit, with at least two expected to begin trading in the early part of next year.

This evolving landscape reflects growing investor appetite for regulated exposure to cryptocurrencies through accessible and familiar investment vehicles like ETFs.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

The crypto market's rebound picked momentum during the weekend, with its intraday gains drawing cues from the shocking assassination attempt on former president Donald Trump.

Trump's growing reelection bid boosts crypto demand

The crypto market's valuation jumped by 2.88% hours after gunfire erupted at Trump’s Pennsylvania rally, with the former president surviving the assassination attempt. Bitcoin (BTC) price also rose above $60,000 for the first time in 10 days.

Interestingly, MAGA (TRUMP), the largest Donald Trump memecoin, also surged by more than 30% after the assassination attempt. 

TOTAL crypto market capitalization hourly performance chart. Source: TradingView

This upward movement indicates that many crypto traders anticipate a Trump victory in November’s upcoming US presidential election. Such an outcome could lead to more favorable crypto regulations than the current stringent policies under Joe Biden’s administration.

"Based on Bitcoin’s reaction so far, looks like markets are going to begin pricing in a full Trump victory," noted Will Clemente, founder of crypto research firm Reflexivity Research.

Crypto derivatives market is bullish

The open interest (OI) of all top-ranking cryptocurrencies has risen in the past 24 hours, especially after the Trump news. Moreover, most of these assets show positive funding rates, suggesting long traders pay a fee to short trades to keep their bullish positions open.

Top 10 crypto assets and their derivatives data. Source: Coinglass

The rise in OI and positive funding rates suggest that most traders have a strong bullish sentiment. They are willing to pay a premium to maintain their long positions, reflecting their confidence in the market's upward movement.

Related: What’s next for Bitcoin price now that German gov't BTC balance hits zero?

Furthermore, the crypto market's gains in the past 24 hours coincide with the relatively higher liquidation of short traders than the long ones. As of July 14, the market had witnessed $65.41 million worth of short liquidations compared to $22.93 million in long liquidations.

Crypto liquidation heatmap. Source: Coinglass

When a short position is liquidated, the trader must buy back the asset to cover their position. This buying pressure increases the demand for the asset, driving up its price.

Descending channel bounce

From a technical perspective, today’s crypto market gains are part of a consolidation trend inside a prevailing descending channel pattern.

TOTAL crypto market cap. Source: TradingView

The crypto market tested the channel's lower trendline as support for the fourth time since March, a move that has lately preceded sharp rebounds. As of July, the market is visibly repeating the fractal, eyeing the 50-day exponential moving average (50-day EMA; the red wave) at around $2.23 trillion as its immediate upside target.

A decisive close above the 50-day EMA could have the market pursue a run-up toward the channel’s upper trendline, akin to its recent bounces. The upper trendline aligns with $2.42 trillion, which served as support during the May-June 2024 session.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Former U.S. president Donald Trump's probability of retaking the White House jumped to an all-time high Saturday after he was injured from a shooting at a rally in Pennsylvania, according to traders on Polymarket.

A Secret Service spokesman said the Republican presidential candidate was "safe" after the shooting, according to The New York Times. A suspected gunman was killed, and a spectator died as well, the newspaper said. Photos and video footage of a defiant Trump with blood on his face pumping his fist in the air circulated on social media, following two weeks in which the national conversation had focused on the frailty and gaffes of his opponent, incumbent President Joe Biden.

Appears he’s ok; pumping his first here. My lord, this is crazy pic.twitter.com/N5Mp8Ible1

— @jason (@Jason) July 13, 2024

"Yes" shares in Polymarket's contract on whether Trump will win the presidency climbed ten cents after the incident, to 70 cents, meaning the market now sees a 70% chance he will prevail in November. Each share pays out $1 if the prediction comes true, and zero if not. Bets are programmed into a smart contract on the Polygon blockchain and settled in USDC, a stablecoin, or cryptocurrency that trades 1:1 for dollars.

"Polifi" meme tokens named after Trump also surged. MAGA, for example, was up 34% on a 24-hour basis to $8.38, according to CoinGecko data, and the satirical TREMP had climbed 67% to $0.6471.

The CoinDesk 20 index, a proxy for the overall cryptocurrency market, is up 3.31% on a 24-hour basis. Bitcoin, the oldest and largest cryptocurrency by market cap, is up 3.26% to $59,735.17. Trump has expressed wholehearted support for crypto on the campaign trail, and the Republican platform vows to halt the Biden administration's "crackdown" on the industry.

Polymarket, founded four years ago by Shayne Coplan, has seen boffo trading volumes in 2024 amid enthusiasm for political betting ahead of the U.S. election. The U.S. presidential winner contract has a total of $252 million in bets placed, a record for the company and for crypto-based prediction markets, if not all prediction markets.

PredictIt, an older, more traditional betting site where wagers are settled in fiat, showed a similar trend, with Trump shares climbing from 59 cents before the shooting to 66 cents before leveling off at 65 cents.

Prediction markets are often called a more reliable gauge of sentiment and method of forecasting than polls because the people making predictions are putting money on the line, and are therefore incentivized to do thorough research and express honest opinions.

The price of the largest Donald Trump memecoin MAGA (TRUMP) surged more than 30% following an assassination attempt on the former President while he was speaking on stage at a rally in Butler, Pensylvannia. 

The MAGA memecoin (TRUMP) spiked rapidly from a price of $6.31 to $10.36 immediately following the assassination attempt, seeing its total market capitalization jump from $293 million to $469 million in less than 30 minutes, per DexScreener data.

The price of MAGA memecoin soared following an attempt on the life of the former President. Source: DexScreener 

Trump was speaking on stage at a rally in Butler, Pennsylvania when several shots were fired from an unknown direction in the crowd. 

Trump clutched his ear as shots sounded and dropped to the ground as his security detail rushed to protect him. 

Shooting just happened at The Trump rally pic.twitter.com/Xs1dVL1H3T

— Acyn (@Acyn) July 13, 2024

While being escorted off stage by his security detail, Trump could seen raising his fist and shouting at the crowd. 

An official spokesperson from Trump's campaign told the Associated Press the former President was "fine" following the incident and that he was undergoing medical treatment at a local facility. 

This is a developing story, and further information will be added as it becomes available.

Amid the growing market anxiety, a ray of hope emerged for cryptocurrency investors relying on Fetch.ai (FET). A renowned crypto expert predicts that after a dramatic 28% drop over the past month, the coin is set to have a huge comeback.

Fetch.ai Shows Resilience

Although unpredictability has haunted the crypto space, Fetch.ai has surprisingly survived the storm. The value of the token has plunged, but it has steadily recovered and lately climbed by almost 6%. Fetch.ai’s resilience has attracted the attention of market watchers who are now closely monitoring its development.

Given the extreme instability of modern markets, Fetch.ai’s capacity for recovery throughout this period is quite impressive.

Significant Gains Expected Soon

The analysis provided by renowned cryptocurrency expert Javon Marks makes Fetch.ai’s present situation particularly interesting. Marks said that the token is showing a bullish trend known as a “Hidden Bullish Divergence,” which usually implies a minor drop before the upward trend’s continuance.

$FET (FetchAI) maintains a Bullish Pattern here and from current areas, this can be suggesting a near 3X from here in an approximate 180% recovery climb back to the $3.48 areas and even higher can be possible… https://t.co/G36S6jVUQl pic.twitter.com/i5cePC1sfS

— JAVONMARKS (@JavonTM1) July 11, 2024

Marks expects Fetch.ai’s growth to be 180%. Based on his forecast, the price of the token might climb to $3.48, its all-time high, or even more, thus offering a remarkable return for the company. This would show an amazing 210% increase over its present trade price of $1.127683.

Beyond the short term predictions, FET still has huge potential for the future. Based on the price analysis done by CoinCheckup, it is expected that the coin will maintain its gaining trajectory over the next seven days, rising by 3.20% to get a price of $1.18. Looking further, the long-term projection is still positive; the FET price is anticipated to climb by 6.72% to $1.22 in a year.

Long-Term Growth Prospects

Long term, Fetch.ai has a very promising future. Based on the crypto prediction platform estimate and the analyst’s strong forecasts, this token has the potential to stand out in the digital currency market giving investors the possibility to profit from a significant upside prospect.

As the crypto market continues to deal with its ups and downs, the FET story tells us that tenacity, creativity, and strategic analysis can be the key elements for unlocking major advantages in this dynamic and continually changing environment.

Featured image from Vecteezy, chart from TradingView

Source: NewsBTC.com

The post 180% Upside For Fetch.ai (FET)? Analyst Makes Bold Prediction Amid Market Jitters appeared first on Crypto Breaking News.

The German government has now sold all of its Bitcoin holdings - going from nearly 50,000 BTC to zero in a very short amount of time. Bitcoin has absorbed the impact and is continuing its recovery. The $BTC price is now at $58,700.

It’s all gone!

According to Arkham Intelligence, the German government sent 49,860 BTC to exchanges ($2.9 billion) and sold them over a 3-week period. After sending off its final tranche of Bitcoin, the government wallet received the sum of 0.0000321 BTC, worth $1.87, from an unknown benefactor.

Bitcoin recovery continues

With this particular overhang on Bitcoin done with, the $BTC price is continuing to recover, putting on 9.8% since the local bottom nine days ago. That almost 50,000 BTC from just one seller could be soaked up in such a fashion bears testament to the demand for BTC that must be in the market.

Bitcoin’s journey back

Source: TradingView

In the short time frame of the 4-hourly, the $BTC price looks to be trying to break through the downward-sloping trend line. If the price can confirm the break, the first resistance at $58,500 will be next.

Bulls would be looking to break the subsequent resistances at $60,000 and $61,400, and then, all being well, the price would potentially be drawn up to the top of the range at $71,400.

Two telling indicators

Source: TradingView

Zooming right out to the macro time frame of the weekly, the importance of the resistances can be noted. Also, the relative strength index (RSI), second indicator from bottom of the chart, is showing a tick up that touches the mid-way point of this indicator. Bull markets are usually characterised by being above this 50 level, so climbing back above, and holding this level, will be very important. 

The most telling, and probably the most powerful indicator, especially on the weekly time frame, is the stochastic RSI, at the bottom of the chart. The cross up of the blue fast line, above the orange slow line, needs to continue. If the lines can both cross up above the 25 level, the resulting positive price momentum can drive $BTC back to the top of the range, and beyond.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The post Is Ripple on the Brink of Victory Against SEC: What’s Next for XRP? appeared first on Coinpedia Fintech News

As the Ripple lawsuit against the U.S. Security Exchange Commission approaches a crucial moment, the crypto community is on high alert. With Judge Analisa Torres set to deliver a final judgment, experts and XRP holders are weighing the odds of a settlement and what this could mean for the cryptocurrency’s future.

No Settlement in Sight

Legal experts suggest that a settlement is unlikely, as Ripple has already secured significant victories in court. Meanwhile, today marks a significant milestone for Ripple, as it was on July 13, 2023, that Judge Torres declared XRP not to be a security. This ruling caused XRP’s price to jump by 100% in just a few hours.

Pro-XRP attorney Bill Morgan noted that Ripple’s previous wins, including a critical ruling that deemed programmatic sales of XRP as non-securities, strengthen their position.

No settlement imminent I see. https://t.co/kqHleoGeG6

— bill morgan (@Belisarius2020) July 13, 2024

Additionally, he noted that Judge Torres’ ruling on secondary sales is likely to remain intact, especially following recent decisions in other high-profile cases.

Point Of Focus In The Case

The current focus of the case is on how much Ripple could be fined. The SEC says Ripple sold XRP to some institutions without proper registration. Ripple claims these sales were valid and offered to pay a fine of just $10 million. Meanwhile, the SEC has reduced its fine from $2 billion to $102 million.

Ripple’s Leadership Speaks Out

However, Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty shared their thoughts. Garlinghouse called it a “very good day” for Ripple and the entire crypto industry, criticizing the SEC for what he described as an unlawful campaign against the industry.

July 13, 2023 – that day was a very good day – for Ripple and the entire industry. And for me personally, a core memory!We had the conviction to fight the bully that has harassed and executed an unlawful war on our industry.  As I said when it started, I knew we were on the… https://t.co/m4W1eRsIf7

— Brad Garlinghouse (@bgarlinghouse) July 12, 2024

Meanwhile, Alderoty highlights that the summary judgment represents a crucial moment, strengthening that XRP is not a security and highlighting the SEC’s overreach. 

He further added a note of caution regarding SEC Chair Gary Gensler, suggesting that the agency’s efforts to tie Ripple in prolonged lawsuits are losing steam.

When Will the Ruling be Announce 

With the anniversary of the summary judgQment approaching, legal expert Fred Rispoli noted a slim chance about 5% that Judge Torres would deliver her decision on that very day. He further noted that if a ruling is coming today, it would typically be released late in the morning or early afternoon EST. Nonetheless, Rispoli remains hopeful for a decision by the end of this month.

XRP’s Price Surge

Looking at the XRP’s recent performance it has experienced a remarkable rally, recently reclaiming the $0.50 mark after a more than 17% increase this week. Investors seized the opportunity to buy the dip when prices dipped below $0.40, resulting in heightened trading activity. 

As of now, XRP is trading at $0.52, with significant trading volume indicating renewed interest among traders.

Worldcoin’s token unlock schedule is set to intensify starting July 24.

The project’s emission rate will surge to 6.62 million tokens daily for the next two years.

WLD’s emission for July is projected to reach a staggering $628.17 million.

Worldcoin (WLD) is set to accelerate its token unlock schedule, increasing selling pressure on the WLD market price. According to data from Token.Unlocks, 6.62 million WLD tokens valued at $12.91 million will be released into the market by July 24.

Currently, the market experiences a regular influx of 3.19 million WLD tokens, valued at $6.23 million, distributed to community members. This unlock schedule was established last year after the project’s launch, with 500 million coins allocated for community distribution.

In just the past week, 22.35 million WLD tokens, worth over $39.12 million, have been released into the market, accounting for 8.19% of the current circulating supply.

However, this pace will increase significantly starting July 24 as Worldcoin prepares to expand its WLD token distribution to additional stakeholders. From that date, the team will begin unlock distributions for the Initial Development Team, who will receive $2.62 million in WLD tokens daily for the next 730 days.

Similarly, TFH investors will receive $3.61 million in WLD tokens daily for the same duration, while the TFH Reserve will receive $451,110 in WLD tokens daily.

As a result, Worldcoin’s emission rate will surge from the current 3.19 million tokens to 6.62 million tokens per day for the next two years. The project has 10 billion tokens earmarked for distribution, with 84% still locked and awaiting release.

Karon Pangestu, Head of Growth at Aevo (formerly Ribbon Finance), recently shared a chart revealing that Worldcoin’s token emission for July is projected to reach a staggering $628.17 million, representing the largest share among projects unlocking tokens this month. This massive release is part of an estimated $3.5 billion in tokens set to be unlocked across various projects in July.

$3.5B+ Token Unlocks in July 😮Altcoin supply emission continues with more than $3.5B+ forecasted to be unlocked for the rest of July.@Token_unlocks outlines that there will be $3.5B+ in total getting unlocked in July. pic.twitter.com/YwjPrXtMGk

— Karon (@pangestu_karon) July 11, 2024

The persistent unlocking of WLD tokens has coincided with a decline in price. In the last 24 hours, the price has plummeted by 10%, and over the past month, it has fallen by a staggering 55%, currently trading at $1.75.

The post Is Worldcoin (WLD) a Buy or Sell? Analyzing the Impact of Token Unlocks appeared first on Coin Edition.

I spent 100 hours analyzing their transactions
What I saw shocked me...
Here’s how government plans to trick you 🧵👇

Before thread start...
⚹ Every day I spend 5+ hours writing Articles.
⚹ Make sure to follow me and bookmark it so you won't lose it and future contents later.
ᗒ 2/9 ⚹ Recently, the market has experienced a significant correction, with the German government being a substantial source of FUD.
⚹ They hold over $1B in $BTC and have gradually started transferring assets to CEX for sale.
⚹ Does such an event have a significant impact?
https://x.com/ArkhamIntel/status/1811064906193486264

ᗒ 3/9 ⚹ This is quite a comical moment since the German government never invested in $BTC but obtained it through other means.
⚹ These 50,000 $BTC were confiscated from the Movie2k website, dedicated to film piracy.
⚹ The funds were confiscated in January 2024.
ᗒ 4/9 ⚹ So far, more than half of their $BTC, over 25,000, has already been sold through several CEXs:
- Kraken
- Coinbase
- Bitstamp
⚹ It's likely they don't leave unsold funds overnight and send them back to their wallets.

ᗒ 5/9 ⚹ This event should not be cited as an example of competent people.
⚹ The government's paper hands simply decided not to diversify their treasury, for which they received criticism from their own deputies
⚹ This is market pressure that won't change the global picture

ᗒ 6/9 ⚹ Very often, the market's reaction to news is much more emotional than the news itself.
⚹ People's emotions don't change, and the $1B figure hits their heads, making them rush to sell, forgetting that $BTC's market cap is $1.14T.
⚹ Sooner or later, a rapid buyback would inevitably begin.

ᗒ 7/9 ⚹ Although the pressure is quite amusing to experienced crypto enthusiasts, it has caused emotional swings for others.
⚹ This is a crucial moment in any cycle before global growth.
⚹ The market simply cannot start growing without shaking out weak hands from positions

ᗒ 8/9 ⚹ Analyzing previous cycles, I can say that this could very well be manipulation by large players.
⚹ Before any global growth, there was a significant correction, knocking people out of the market.
⚹ The current market phase can be described as a Bear Trap.

ᗒ 9/9 ⚹ In the current realities, there are no more reasons for the market to dump, and we have already passed the most crucial moment.
⚹ The best option would be not to touch your assets until autumn and buy them back at current discounts.
⚹ Such patience will definitely bring you life-changing gains in 2024-2025.
ᗒ That's all for today...

HOPE YOU LIKE IT..

#CPI_BTC_Watch #BinanceTurns7 #CryptoPM_Youtube #WhaleAlert #Whale.Alert

The post Bitcoin Dominance Drops: Is Altcoin Season Approaching? appeared first on Coinpedia Fintech News

In the downtrend, many altcoins suffered a bloodbath and dropped almost 30% to 70% in price in recent months. This huge decline has many analysts doubting the altcoin season. However, recent developments in Bitcoin’s dominance provide a glimmer of hope for altcoins. 

Want to know when to dive into altcoin season? Step in. 

Understanding the Halving Dynamics

Meanwhile, Prominent crypto analyst Wise Advice provides an insightful analysis of how the Bitcoin halving cycle can predict the timing of the next altcoin season. The core idea is that after each Bitcoin halving, which happens roughly every four years, there is a significant opportunity for altcoins to surge. This pattern has been consistent throughout Bitcoin’s history.

However, analysts suggest that investors could see this as an opportunity to shift their focus towards altcoins, expecting a potential gain. Moreover, for the altcoin season, at least 75% of the top 50 altcoins must outperform Bitcoin.

Halving Impact on Altcoins

After each halving, it takes about 1 to 1.5 years for Bitcoin to reach a new all-time high (ATH), and this is the period for altcoins boom like Ethereum, Solana, and Polkadot. For example, following the third Bitcoin halving on November 9, 2021, Bitcoin achieved its ATH, and shortly after, Ethereum hit its ATH of $4,800 on November 10, 2021. Solana reached $250 just five days before this, whereas Polkadot peaked at $55 on November 4, 2021, and Avalanche hit $146 on November 21, 2021. 

Similarly, during the second halving bull cycle in December 2017, Ethereum surged to $1,400 in early January 2018. The first halving bull cycle in November 2013 saw Litecoin rise from $2 to $53.

How Money Flow Pattern Works

The analyst further explains that the key to understanding these movements lies in the pattern of money flow. Initially, investors flock to Bitcoin, and as Bitcoin’s price increases, profits are often moved into altcoins. This inflow of money to smaller altcoins with lower market caps results in significant price increases for these assets.

The historical pattern shows that after Bitcoin reaches an ATH, its market dominance declines, which has been true for previous cycles. For instance, Bitcoin’s dominance fell to around 40% after the third halving, and after the second halving, it was about 35%.

Current Market Indicators: Bearish or Bullish? 

Bitcoin’s dominance is at 54%, though still at Bitcoin season. There is a slight decrease this week from 55.04% to 54.68%. This small drop suggests that some altcoins have started to outperform Bitcoin. Wise Advice believes that we are likely at the beginning of a cycle that will eventually lead to a new altcoin season. According to historical data and market trends, after the next Bitcoin ATH, we can expect a period where altcoins will see significant gains.

Is Altcoin season finally here? Tell us what you think. 

The XRP price chart seems to be mirroring the same pattern as during its bull spike in 2017.

Analysts note the same pattern in the price charts now expecting a 60,000% price pump.

XRP analysts and holders debate how far the price of XRP will go varying from $20 to $9,761.

The crypto community waits patiently for Bitcoin (BTC) to regain its full bullish momentum as altcoins show bullish signs instead. Amongst these bullish altcoins is VeChain (VET), WadzPay (WTK), JasmyCoin (JASMY), Cardano (ADA), and Ripple’s XRP.

In particular, the  XRP Army is very bullish and is expecting a phenomenal price spike for XRP very soon. As the Ripple vs SEC cases seems to be nearing the final chapter of the battle, XRP’s price charts show a repeating pattern supporting the possibility of a parabolic price spike.

ATTENTION #XRP HOLDERSIt took 21 Days after the first apex was broken for XRP to really get going before doing Approx 60,000% (2017 chart attached) Arguably we are almost at the exact same point. LINEAR charts have us 3 days POST APEX… 18 days before EUPHORIA kicks in!! pic.twitter.com/OYdt60P9Q2

— BLOCK BULL (@TheBlockBull) July 11, 2024

According to one crypto analyst XRP has been forming a large triangle that is finally complete. This could trigger a 60,000% price spike caused by a narrow oversell of the Bollinger Band. More importantly, this user believes it will take 21 days for the parabolic leap to arrive. 

He draws an exact moment in history when XRP hit its current  ATH record in 2017 when the same event occurred. This event was the closing of the large triangle formation after which, 21 days later XRP pulled a 60,000% price pump. 

Now, the analyst observes the closing of the same triangle close pattern which shows the same potential for a 60,000% price spike. He says according to the linear charts, it has been 3 days since this close which means that the pump will arrive 18 days from now.

Strong evidence that $XRP on its way to $201. Strong support at $0.40-$0.50.2. Near lower Bollinger Band, oversold3. Moving average > current price; bullish4. Low volume during consolidation; watch for a volume surge5. Historical rallies after consolidation hint at… pic.twitter.com/PjWxb7IIGv

— Armando Pantoja (@_TallGuyTycoon) July 11, 2024

Meanwhile, another user adds that there is strong evidence for XRP to hit $20 first due to five main reasons. The first being that the asset has strong support at $0.40-$0.50. Adding to this is the Bollinger Band scenario, the moving average being higher than the current XRP price, low volume during consolidation, and historic rallies after consolidation.

One analyst even goes so far as to say that XRP will hit $9,761 on August 1, 2024. No doubt the XRP Army and the greater crypto community are both eagerly awaiting to see how this parabolic leap will take the price of XRP and if it will indeed arrive in the next 18 days.

Read Also

XRP’s Historical Upward Price Pattern Repeats, Bull Run Now?

XRP Repeats a Familiar Pattern, Sign of More Significant Price Pumps Ahead?

SHIB Inches Closer to DOGE; Memecoin War Repeat?

XRP Charts Spark Hope: Potential Parabolic Surge Ahead

Dogecoin’s Parabolic Rally Expected by April, Analyst Predicts

The post 60,000% XRP Parabolic Price Spike to $9,761 Only 18 Days Away if Historic Patterns Repeat appeared first on Crypto News Land.

The US Consumer Price Index (CPI) in June rose by 3% year-over-year, slightly below the market consensus of 3.1%. Analysts claim that this CPI release was bullish for Bitcoin (BTC), but traders are questioning why Bitcoin's price remains below $58,000. Three factors could possibly explain investors’ lack of enthusiasm.

Source: DaanCrypto

According to trader, YouTuber, and analyst DaanCrypto, Bitcoin’s weakness can be attributed to scalpers and market makers trying to liquidate leveraged longs. However, the trend favors “continuation higher,” meaning BTC should bounce back to $60,000 in the near term. Essentially, if the US central bank cuts interest rates, incentives for fixed-income investments are reduced, and some of this money will seek higher returns elsewhere.

Stocks and gold rallied while Bitcoin price stagnated

Chris Larkin, managing director of trading and investing at E-Trade, told CNBC that the Federal Reserve (Fed) is "one step closer to a September rate cut,” especially after real average hourly earnings for workers slowed 3.9% from the prior year, according to a Bureau of Labor Statistics report. Additionally, the labor force participation rate slightly increased to 62.6% in June from 62.5% in May. According to CNN, slowing wages are a strong incentive for the Fed to begin cutting interest rates.

According to the CME Group’s FedWatch tracker of interest rate futures contracts, traders are now pricing 47% odds of two interest rate cuts in 2024, up from 24% the prior week. Furthermore, Yahoo Finance stated that Fed Chair Jerome Powell is paying closer attention to the employment rate, adding that the central bank “is increasingly aware of the risks posed by a cooling labor market.”

Despite data pointing to higher odds of rate cuts, with consensus surpassing 90% odds of at least one 0.25% rate cut by September, Bitcoin’s price remains pegged below $60,000. Meanwhile, the S&P 500 stock market index is 0.5% below its all-time high, and gold, the market’s preferred store of value, is trading 1.2% below its $2,450 record high from May 2024. Even the Russell 2000 small cap index, which excludes the 1000 largest US-listed companies, rose 3% on July 11.

Given the constructive view of traditional finance, investors struggle to find explanations for Bitcoin’s lack of bullishness. This decoupling is especially worrisome given that spot Bitcoin exchange-traded funds (ETFs) captured $800 million in inflows over the past four trading days, as per Farside Investors’ data.

To make things worse, the DXY index, which measures the US dollar against a basket of foreign currencies, declined to its lowest level in five weeks at 104.4. This suggests investors are not seeking shelter in cash positions, which could partially explain Bitcoin’s bearishness.

US Dollar Index (DXY). Source: TradingView

German government BTC sale, miner’s profitability and fear of recession

Bitcoin’s underperformance can be attributed to three factors. The first is the FUD stemming from the ongoing sale by the German government. Nearly 50,000 BTC, originally seized from a 2013 pirated movie website, are being disposed of by authorities, either being sent to exchanges or known market makers. According to Arkham Intelligence, there are now fewer than 5,000 BTC left for sale.

Another source of uncertainty comes from Bitcoin miners. The 50% cut in block subsidies from April’s halving is forcing some miners to sell their holdings. According to a CryptoQuant report, “large-size miners have sold about $300M since June 20, while mid-size miners have unloaded around $500M on a cost basis.”

Lastly, traders fear that the weakness in real estate markets, especially in China, will deter global economic growth. If corporate earnings disappoint in the second half of 2024, investors will likely seek protection in cash positions, which is detrimental for risk-on assets, including Bitcoin. These combined factors explain why Bitcoin has failed to reclaim the $60,000 support level despite a favorable macroeconomic environment.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The German state of Saxony is quickly running out of bitcoin {{BTC}} to sell after moving another batch of its confiscated assets to crypto exchanges and brokers on Thursday.

Bitcoin wallets linked to the German authorities transferred a total of 10,567 BTC worth over $600 million in multiple batches during the day to crypto exchanges Bitstamp, Coinbase, Kraken and other service providers such as Flow Traders and Cumberland DRW, blockchain data by Arkham Intelligence shows.

After today's transactions, the wallets linked to the authorities held only 4,925 BTC worth $285 million at current prices, down from the 50,000 BTC worth nearly $3 billion since they started selling the assets three weeks ago.

This means that Germany's bitcoin selling spree could be over as soon as Friday or early next week at the current pace, given that the wallets unloaded roughly 35,000 BTC so far this week.

Read more: It's Not Germany Selling Bitcoin. It's One of Its States and It Has No Choice.

The tally could change in the later hours because of the wallet's odd practice of receiving a part of the transferred assets, at times in the $10 million range, back from exchanges and brokers before the end of the day. (Greg Cipolaro, the head of research at digital asset manager NYDIG , called the on-chain activity "perplexing" in a Wednesday note.)

The looming finish of Germany's $3 billion selling spree could allay crypto investors' fears, who have been fixated on the on-chain movements of large potential sellers on the market over the past few weeks, tying the recent downturn in asset prices to concerns over supply overhang.

Bitcoin's 15% correction over the past month coincided with the U.S. government, which holds over $12 billion in seized bitcoin, moving $240 million worth of Silk Road-related BTC to Coinbase and the estate of the defunct Japanese exchange Mt. Gox starting repayments of 140,000 BTC to creditors this month, who might want to cash out after ten years of waiting.

Fears about the looming sell pressure may have been overblown, NYDIG's Cipolaro said in a report, with bitcoin's decline exceeding the price impact if all the potential selling materializes.

The post Another Crypto Victory: SEC Finally Drops Paxos Investigation appeared first on Coinpedia Fintech News

Paxos has been freed from SEC investigation. Even though we are in a bull market, it feels like a bear market due to many crypto negative events. In such times, even the smallest positive news brings a lot of relief. Everyone knows how the SEC is waging a war against crypto, but this time their decision shocked everyone.

A surprising piece of news is that the SEC has ended its investigation against Paxos. A year ago, the SEC sent a Wells notice to Paxos, a stablecoin issuer, which made it seem like enforcement action would follow. The investigation was related to BUSD, a Binance-backed stablecoin issued by Paxos. The SEC claimed that BUSD was a security, which they say about most cryptocurrencies. And people are well aware of the viewpoint of Gary Gensler, the chairperson of SEC, in regards to cryptocurrencies.

Another Win for Crypto

Recently, the SEC faced a partial defeat in the Binance case. Judge Amy Berman dismissed some points from the SEC’s case against Binance. On July 9, Jorge Tenreiro, the acting chief of the crypto assets and cyber unit, told Paxos he had no intention of recommending enforcement action against them. While the current administration doesn’t seem interested in building proper regulations for crypto, the SEC’s step will create positive sentiment in the crypto world.

Comments from Paxos

Walter Hesserts, Paxos’s strategy head, said the formal termination of the investigation greatly relieved the company and was expected. He hopes this event will bring some stability to the market. The SEC hasn’t commented on this whole event.

Experts believe that some federal judges gradually ruling in favor of crypto and the SEC softening its stance are laying the foundation for the future of crypto. Right now, all crypto enthusiasts are looking forward to the upcoming US election, hoping that if a crypto-supporting administration comes to power, it will greatly support the growth of the crypto ecosystem.

Fears over the German government’s ongoing liquidation of seized Bitcoin has ignited a 25% drop from its highs.

But Jan Sell, managing director of Coinbase Germany, says not to panic.

Selling “isn’t a particularly anti-crypto move,” he said in an interview with DL News. “It’s not an investment for them. It’s like, if they impound a car or something from people, then at some point they need to get rid of it.”

In January, Germany’s central criminal investigation agency seized 50,000 Bitcoin from Movie2k.to, a film piracy website found guilty of money laundering and other illegal activities.

The German government has transferred 40,000 Bitcoin, valued at around $2.3 billion, to various crypto exchanges — including Coinbase.

Sell said that the Bitcoin Coinbase has sold on behalf of the German government is “not a huge amount,” in terms of the volume the exchange generally sees.

He revealed that Michael Saylor’s MicroStrategy — which holds about $13 billion in Bitcoin — has bought “similar kinds of volumes” over a single weekend.

Still, the selling has certainly shaken investors.

The Crypto Fear and Greed Index, a measure of market sentiment, fell to 26 out of 100 — its lowest reading since January 2023.

And Germany isn’t the only country sitting on confiscated Bitcoin.

Onchain data compiled by Arkham Intelligence shows the US government holds over $13 billion of seized Bitcoin, while authorities in the UK hold around $3.6 billion.

Governments have previously sold confiscated crypto directly to buyers at auction. But for larger amounts it’s not easy to find bidders, leaving them no alternative but to sell the crypto on the open market.

The worry among investors is that if more governments decide to cash in their confiscated crypto, it could rock the market further.

‘Other big sales’

Since the German government started selling its Bitcoin on June 19, the top cryptocurrency has struggled to recover.

Sell said he doesn’t think the German government’s selling is wholly responsible for the drop, though.

“There’s a few other big sales going on at the moment,” he said without elaborating.

One worry is the distribution of Bitcoin from Mt. Gox, the Japanese crypto exchange that was hacked in 2014.

The defunct exchange is expected to return over 140,000 Bitcoin, worth some $8 billion, to victims this month.

Many recipients are expected to cash out.

Since Mt. Gox suspended trading over 10 years ago, Bitcoin has risen over 10,000%.

Tim Craig is a DeFi Correspondent at DL News. Got a tip? Email him at tim@dlnews.com.

In an analysis shared via X and YouTube, crypto analyst Matt “The Great Mattsby” Hughes highlighted what could be a historic move for the XRP price, based on the Bollinger Bands indicator. Hughes points to an impending squeeze in XRP’s monthly Bollinger Bands, suggesting a potential spike similar to previous rallies where the cryptocurrency saw massive gains.

Hughes explained via X: “XRP has one of the tightest monthly Bollinger Band squeezes in its history and in all of crypto right now. The last time it squeezed like that, it shot up 60,000%.” In a YouTube video, the crypto analyst went into more detail, explaining how the XRP price has behaved in the past when the Bollinger Bands have been this tight.

XRP Could Skyrocket To $250

The first instance, according to Hughes, occurred between September 2016 and March 2017. During this period, the XRP price consolidated for several months, causing the Bollinger Bands to tighten dramatically. After this period of consolidation, the XRP price skyrocketed, achieving gains that Hughes estimates to be around 60,000%.

The second time was from December 2020 to April 2021. In this case, XRP rose by around 1,000%. “So it was much less than this period here and simply because it looks like it wasn’t as tight as it was right here [the first time], we can see it was much tighter during the first time,” Hughes explained.

This is the third time. Notably, “is the tightest it has ever been, even tighter than the first time, which suggests that it should explode much higher than previous cycles,” he said.

The Bollinger Bands are a technical analysis tool defined by a set of trendlines two standard deviations (positive and negative) away from a simple moving average (SMA) of a security’s price, but can be adjusted to suit the user’s preferences. A narrowing of these bands typically indicates low volatility with the potential for a major bullish or bearish price movement once the bands begin to widen again.

Hughes also examines the duration from the all-time high to the current price, noting that 2,373 days have elapsed. This long period of relative inactivity in price growth, combined with the extreme tightness of the Bollinger Bands, forms the basis of his prediction of an imminent significant move higher.

“It’s the tightest in its history as well so that just kind of proves to me that there is going to be a move sometime in the near future. I’m not sure when but sometime, we can see that this is looking more and more like it wants to break out,” Hughes remarked.

In addition to the technical perspective, he also discussed XRP’s price performance relative to its 20-month moving average. He notes that, similar to previous patterns, XRP has spent a considerable amount of time below this moving average prior to significant rallies.

In both previous instances, XRP’s breakout was preceded by a period below this moving average, followed by a breakout that began after testing the bottom of the Bollinger Band. Notably, the price of XRP hasn’t yet tested the bottom of the Bollinger band. Therefore, Hughes speculates about a potential price drop as a “final flush out”, possibly down to the $0.30 area before a potential breakout.

Such a move would be in line with previous cycles where a test of the lower Bollinger Band has led to strong rallies. “So there is a possibility that the price could come down to test it. Maybe one last flush out maybe down into the $0.30s, we don’t know but if that’s the case then that’s just more confluence of the previous cycles that price can still just break out,” he concluded.

By the way, if history were to repeat itself and XRP were to increase by 62,000%, it would reach a price of $250.

At press time, XRP traded at $0.44574.

Source: NewsBTC.com

The post XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst appeared first on Crypto Breaking News.

Many struggle to begin in crypto without funds.
Here're all steps I would follow if I had to start from $0🧵👇

➮ But, before we start...
don't forget to follow me @Crypto PM to not miss my future Content.
2/➮ If u're starting with empty pockets, here're 2 key points:
☩ Take risks.
☩ Go to places with no competition
☩ If u just wanna buy a coin and become a millionaire, it's better not to get into crypto, you'll lose money.
3/➮ Go to places with no competition
☩ Wealth lies in the unknown.
☩ To turn 3-5 figures into something significant, u have to constantly search and evolve.
☩ Biggest profits come from areas that are not currently hyped but might become so in near future.

4/➮ Take risks
☩ Once u have found niche and mastered it thoroughly, it's time to take risks.
☩ But this doesn't mean you should spend all ur money on random meme coin , hoping it will grow.
☩ Justified risk doesn't involve blind hope

5/➮ Now let's move on to specific areas where I see potential
But here're 2 things u should NOT do:
☩ Trading with leverage
☩ Buying coins with a large market cap
☩ It will take years and a lot of money before u become a profitable trader.

➮ 3 approaches to making money with minimal starting funds
1/➮ Meme coins
☩ Despite inactive market, next boom will happen very soon
☩ Memes are most hyped niche right now, where you can make 50x, 100x and even 1000x with minimal skills.
➮ PumpFun
☩ This is the niche of meme coins that I would focus on.
☩ Even though most of the coins will turn out to be scams,
☩ If u dedicate enough time and stay in the market 24/7, you have a good chance of spotting the next 100x gem.

2/➮ Airdrop Farming
☩ Judging by the recent $ZRO & $ZK, the key rule is to farm airdrops that few people are aware of.
☩ Here're some tips for discovering new airdrops that aren't widely known👇

➮ Research all project socials
☩ You won't always find airdrop info on X
☩ Check Discord and TG instead and read the chat discussions, all the info you need is there
☩ Also remember: protocols often deny airdrops due to legal consequences
3/➮ Crypto jobs in web3
☩ Best ways to earn ur first money while learning crypto is to get a web3 job.
☩ Many companies are looking for ppl to help develop their projects.

➮ It's best to choose companies that are planning to launch a token.
☩ Mostly, u work remotely & anonymously, which is a great way to start
☩ Salary is paid in crypto or tokens, depending on the project.
➮ Your primary goal is to identify your strengths and persistently knock on doors until one opens.
☩ In crypto, what truly counts is your knowledge, not degrees or other formal qualifications.

THAT'S IT FOR TODAY...
Follow me @Crypto PM
I hope you found this research helpful
Smash a Like and SAVE, so you won't lose it.

#Whale.Alert #WhaleAlert #cryptopm #BullRunAhead #100xgems

In recent weeks, German authorities have stepped up the sale of significant amounts of Bitcoin (BTC), resulting in increased selling pressure on the world’s largest cryptocurrency, which has fallen over 20% in the past month. 

Bitcoin Reserves On The Brink Of Exhaustion

The selling spree began last month when the German government initiated the sale of seized Bitcoin from a wallet operated by the country’s Federal Criminal Police Office, commonly known as the Bundeskriminalamt (BKA). 

The BKA sold 900 BTC in June valued at around $52 million at the time, which were part of a massive haul seized from a now-defunct movie piracy website. Subsequently, the government sold an additional 3,000 BTC worth approximately $172 million, followed by another sale of 2,739 BTC, equivalent to $155 million this week.

Adding to these figures, the latest data from blockchain analytics firm Arkham reveals that the German government’s wallet sold over 5,000 BTC on Wednesday, leaving just 15,552 BTC in its stash worth around $892 million, representing a sell-off of more than 80% of their entire stash of 50,000 BTC seized. 

Price Remains Steady As BlackRock Steps In

Despite the significant sell-off, Bitcoin has managed to maintain its price above the crucial 6-month support level of $50,000, signaling resilience in the face of the massive selling pressure witnessed in the market over the past 30 days. 

Furthermore, the recent pullback from all-time high levels has been viewed by many investors, including institutional asset managers, as a buying opportunity, contributing to the slight recovery in Bitcoin prices over the past few days. Akrham even stated in a social media post, “The German government is selling, but Blackrock is buying. 

Recent data shows that on Wednesday, the Bitcoin ETF market activity has seen a net addition of 4,862 BTC valued at $281 million, mitigating the impact of the daily sell-off by the German authorities. 

BlackRock for instance, one of the largest ETF issuer by assets under management,  increased its BTC holdings today by 2,095 BTC (worth $121.16 million), bringing its total holdings to 312,565 BTC worth $18.08 billion, playing a significant role in stabilizing and supporting the Bitcoin price. 

At the time of writing, the largest cryptocurrency on the market is trading at $57,430, almost unchanged from Tuesday’s price with a slight drop of 0.4% in the last 24 hours. Nevertheless, BTC still records a price drop of over 22% from its all-time high of $73,700 reached in mid-March. 

Featured image from DALL-E, chart from TradingView.com 

Source: NewsBTC.com

The post German Government Unloads 80% Of Bitcoin Holdings, Leaving Only $890M Behind appeared first on Crypto Breaking News.

TL;DR

Ripple has achieved significant partial legal victories in its ongoing battle with the SEC throughout 2023.

The potential penalty remains disputed, with the SEC proposing $102.6 million and the company arguing for a maximum of $10 million.

Filing After Filing

The legal spat between Ripple and the US Securities and Exchange Commission (SEC) continues to be among the most intriguing topics in the crypto space. It dates back to December 2020 when the regulator sued the company, accusing it of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.

The parties fired numerous shots at each other in the following years, with the advantage going from one side to the other. According to some industry participants, Ripple currently has the upper hand after securing three vital (yet partial) court wins.

In July last year, Judge Torres ruled that the firm’s programmatic sales to secondary trading platforms do not constitute offers of investment contracts. The decision was followed by a bull run for XRP, whose price shot by over 70% in the span of 24 hours.

The magistrates later dismissed the SEC’s intentions to appeal the ruling, while Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges brought by the agency.

The case entered its trial phase in April this year, but instead of a final agreement, it offered additional confrontation. Ripple recently pointed to Judge Amy Jackson’s decision to dismiss the SEC’s claims that secondary market sales of Binance’s BNB token constituted securities transactions.

The company’s defense filed a Notice of Supplemental Authority, arguing that the ruling supports its case that the alleged illegal sales of XRP do not warrant “harsh remedies.”

The Commission was quick to react, filing an official response on July 3. It maintained that the case against Binance is “wholly irrelevant” to the one against Ripple.

The Possible Penalty

Ripple’s potential fine has become another bone of contention in the lawsuit. The SEC initially sought a staggering $2 billion penalty, while the company insisted on a sum no larger than $10 million.

Ripple compared the lawsuit with the one between the watchdog and Terraform Labs, saying direct allegations of fraud were only evident in the one against the defunct crypto company. 

Shortly after, the SEC softened its tone, proposing a $102.6 million penalty:

“Ripple avoids comparing the Terraform settlement’s penalty to the gross profit of the violative conduct. That ratio ($420 million/$3.587 billion) is significantly higher: 11.7%. Applying it to the $876.3 million in gross profits, the SEC here asks the court to disgorge, which results in a much larger figure, a $102.6 million penalty, than the $10 million ceiling Ripple insists on.”

Is a Resolution Incoming?

Even though the case is in its final stage, an outcome might be prolonged indefinitely due to the complexity of the legal process and possible appeals from both sides. 

However, some optimists believe an agreement might occur in the following weeks. One example is the American attorney Fred Rispoli. He outlined July 31 as a possible date, predicting the resolution would include a penalty of no more than $25 million for Ripple and $0 disgorgement.

“Judge rules all sales she deemed illegal are permanently enjoined, and rules all the “new” contracts referenced by Ripple are not properly before her, so SEC will have to sue again if it believes these violate her ruling,” the lawyer envisioned.

The post Ripple v SEC Lawsuit Update July 11 appeared first on CryptoPotato.