In a report requested by Rep. Maxine Waters, the country’s top watchdog is carefully neutral but dissatisfied with agencies’ abilities to work together.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Judge in SBF's criminal case proposes gag order, citing attempt to 'influence public opinion'
The proposal followed a complaint filed by U.S. authorities alleging Sam Bankman-Fried had leaked Caroline Ellison’s private journals in an attempt to interfere with the trial.
Price analysis 7/24: SPX, DXY, BTC, ETH, XRP, BNB, ADA, DOGE, SOL, MATIC
Bitcoin is at the pivotal 50-day SMA support and a drop below this level could result in accelerated selling in BTC and altcoins.
Price analysis 7/24: SPX, DXY, BTC, ETH, XRP, BNB, ADA, DOGE, SOL, MATIC
Bitcoin (BTC) plunged to $29,000 on July 24, signaling that bears are trying to seize control. It looks like the failure to hold on to the higher levels may have tempted short-term bulls to book profits and aggressive bears to initiate short positions.
Although the near term looks bearish, long-term investors remain unfazed and they continue to hold on to their positions. Glassnode data shows that Bitcoin’s Long-Term Holder Supply made a new high of 14.52 million Bitcoin, “equivalent to 75% of the circulating supply.”
Daily cryptocurrency market performance. Source: Coin360While the cryptocurrency markets have turned soft in the near term, the United States equities markets remain on a strong footing. The Dow Jones Industrial Average has risen for ten straight days, its longest streak since 2017. However, things could change this week with a slew of key earnings reports and the Federal Reserve’s policy decision on July 26. The latter could also impact the U.S. dollar index (DXY), which is on a recovery path.
Could lower levels attract buyers in Bitcoin and select altcoins? Will the strength in the U.S. equities markets limit the downside in the cryptocurrency markets? Let’s analyze the charts to find out.
S&P 500 Index price analysis
The S&P 500 Index (SPX) turned down from 4,578 on July 19 but a positive sign is that the bulls have not given up much ground. This suggests that the buyers are not dumping their positions as they anticipate the uptrend to continue.
Price analysis 7/24: SPX, DXY, BTC, ETH, XRP, BNB, ADA, DOGE, SOL, MATIC
Bitcoin is at the pivotal 50-day SMA support and a drop below this level could result in accelerated selling in BTC and altcoins.
New research shows how brain-like computers could revolutionize blockchain and AI
A CMOS-compatible neuromorphic computing chip could be on the horizon thanks to breakthrough research out of Technische Universität Dresden.
Ripple ruling and crypto ETFs 'drove a lot of urgency' among lawmakers, reportedly says Coinbase CEO
Coinbase CEO Brian Armstrong reportedly said Representatives Maxine Waters and Patrick McHenry were both considering a legislative path forward on regulating digital assets.
Why is XRP price down today?
XRP (XRP) price is down today, mirroring trends elsewhere in the cryptocurrencymarket as traders await the Federal Reserve rate decision in the week.
XRP price drops amid rising dollar strength
On July 24, XRP price dropped 8% to $0.68, underperforming the crypto market's 3.5% decline on the same day. The XRP/USD pair declined amid growing expectations that the Fed would raise interest rates by 25 basis points in its July 25-26 meeting.
XRP/USD versus the crypto market's daily performance chart. Source: TradingViewA higher rate environment is considered bad for cryptocurrencies like XRP. As a result, some traders have rotated out of high-cap cryptos to seek shelter in safer assets like the U.S. dollar, selling at the peak of the Ripple-led market rally on July 13.
For instance, XRP's price climbed 75% on July 13 but was unable to extend its gains above $1. Since then, the token's price has fallen by 28%. On the other hand, the U.S. dollar index (DXY) bounced nearly 2% in the same period.
Meanwhile, the correlation coefficient between DXY and XRP was -0.79 on July 24 compared to +0.25 on July 13, showing a greater likelihood of XRP dropping further if the dollar keeps rising in the coming months.
Bitcoin whale exchange inflow share hits 1-year high — over 40%
Bitcoin whales account for the most exchange inflows volume-wise since June 2022, as short-term holders become increasingly active.
What criminal charges for Celsius ex-CEO mean for crypto industry
The former CEO of the troubled crypto lender faces multiple charges of fraud and market manipulation as U.S. regulators eye crypto market overhaul.
Worldcoin launch divides opinions - crypto community has its say
“What could go wrong?” Decentralized ID protocol Worldcoin has launched, receiving mixed takes from the cryptocurrency community.
Putin signs law on introduction of digital ruble in Russia
Russian citizens will not be forced to use the digital ruble, and use of the CBDC will be a voluntary choice for people to make, Bank of Russia governor said last week.
XRP court ruling marks milestone, but new crypto law could take years
Ripple’s partial victory against the SEC is positive, but crypto firms still face uncertainty without a regulatory framework.
XRP court ruling marks milestone, but new crypto law could take years
Ripple’s partial victory against the SEC is positive, but crypto firms still face uncertainty without a regulatory framework.
Worldcoin token launch sparks response from Vitalik Buterin
The Ethereum co-founder released a long-form response to the launch of Worldcoin’s decentralized human identity verification system.
From rugs to riches: UK carpet retailer to adopt Bitcoin Standard
With inflation running high and sluggish UK banking interest rates, small businesses in the United Kingdom are turning to novel solutions to save money.
Korean banks to research the stablecoins alternative
Hana Bank plans to conduct research on certificate of deposit tokens, while Woori Bank’s research department has already recently released a report on them.
Korean banks research stablecoin, CBDC alternative
Hana Bank plans to research certificates of deposit tokens, while Woori Bank’s research department has recently released a report on the tokens.
Biggest mining difficulty drop of 2023? 5 things to know in Bitcoin this week
Bitcoin begins to fulfil traders' downside targets as BTC price action retraces its steps in a crucial macro week.
Twitter bids adieu to Bluebird as Elon Musk rebrands platform to X
Musk said in a recent interview that if done right X has the potential to become half of the global financial system.