An Earthjustice lawyer said the hearings and discovery process would give Kentuckians a good idea what they would be paying for by subsidizing the facilities.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Kentucky to scrutinize contracts offering cheaper electricity to miners
An Earthjustice lawyer said the hearings and discovery process would give Kentuckians a good idea what they would be paying for by subsidizing the facilities.
Bitcoin price recovery possible after record realized losses and leverage flush out create a healthier market
Bitcoin (BTC) price is showing notable resilience at the $17,000 level, and according to data from Glassnode, a number of metrics that track the pace of selling and the on-chain behavior of investors are beginning to show a reduction in the factors that trigger sharp sell-offs.
The FTX bankruptcy fueled a historic sell-off resulting in $4.4 billion in realized Bitcoin losses. By analyzing realized losses with the daily weighted average metric, Glassnode analysts found that the on-chain losses are subsiding.
According to Glassnode, Bitcoin hit an all-time low in the realized profits versus losses ratio. Toward the end of the most recent bull market, realized losses were 14 times larger than profits, which historically coincided with a positive market shift.
Bitcoin realized profit and loss. Source: GlassnodeThe on-chain data also shows realized losses are declining and Bitcoin price is above the balanced price and realized cap is dropping, removing excess liquidity generated from over-leveraged entities.
BTC balanced and delta price. Source: GlassnodeRealized cap suggests excess liquidity is drained
The realized cap is the net sum of Bitcoin capital inflows and outflows since BTC’s launch.
Bitcoin price recovery possible after record realized losses and leverage flush out create a healthier market
On-chain analysis highlights a slow down in selling and improving investor sentiment which could help BTC price recover.
US House committee chair pushes back against SBF's excuse to potentially delay testimony
"It is imperative that you attend our hearing on the 13th, and we are willing to schedule continued hearings if there is more information to be shared later,” said Maxine Waters.
Bitcoin bears beware! BTC holds $17K as support while the S&P 500 drops 1.5%
BTC whales and market makers are holding their leveraged long positions, even though BTC failed to break above $17,400 on Dec. 5
Price analysis 12/5: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT
Crypto markets appear to be losing some of their recent bullish momentum, but a favorable tailwind from equities markets could catalyze a breakout in Bitcoin and select altcoins.
Price analysis 12/5: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT
It’s the final month of the year and analysts are out with their projections for the next year. In a note to investors, Standard Chartered suggested that “The financial-market surprises of 2023” will include Bitcoin (BTC) price diving to $5,000 at some point in the year. The fall will be triggered by a liquidity crunch, which could result in more bankruptcies and a fall in investor confidence in the crypto sector.
If this feels like an extreme, venture capitalist Tim Draper went in the opposite direction and predicted that Bitcoin could skyrocket to $250,000 by the middle of 2023. While speaking with CNBC, Draper said that Bitcoin’s massive rally is likely to be fuelled by increased participation from women who control a large part of retail spending.
Daily cryptocurrency market performance. Source: Coin360In the short term, analysts remain divided on the prospects of a Bitcoin rally. While some analysts expect a Christmas rally to push Bitcoin toward $19,000, others are not so optimistic.
Could the S&P 500 index (SPX) witness profit booking in the near term? Is the U.S. dollar index (DXY) ripe for a recovery? What is the effect of these two asset classes on cryptocurrencies? Let’s study the charts to find out.
SPX
The S&P 500 index rebounded off the 20-day exponential moving average (3,967) on Nov. 30, indicating that bulls continue to view the dips as a buying opportunity.
Maple Finance cuts ties with Orthogonal Trading over alleged misrepresentation of finances
Maple’s decision comes after Orthogonal Trading admitted on Dec 3 that it was unable to meet loan repayments following the collapse of FTX and its partner Alameda.
Treasury officials would have done more for national security by leaving Tornado Cash alone
Tornado Cash contributes to our national security interests more than it undermines them.
Vitalik Buterin discusses his 'excitement' for the future of Ethereum
Buterin was specifically bullish on the rise of decentralized blockchain identities to enhance user privacy.
Vitalik Buterin discusses his 'excitement' for the future of Ethereum
Buterin was specifically bullish on the rise of decentralized blockchain identities to enhance user privacy.
Malta prepares to revise regulatory treatment of NFTs
The revision seeks to remove nonfungible tokens from Malta's Virtual Financial Assets Framework.
How can UK-based businesses accept Bitcoin?
Through Bitcoin payment processors like BitPay, businesses in the UK can offer BTC as a payment method during checkout.
How can UK-based businesses accept Bitcoin?
Through Bitcoin payment processors like BitPay, businesses in the UK can offer BTC as a payment method during checkout.
USDC issuer Circle terminates SPAC merger with Concord
The deal previously valued Circle at $4.5 billion in July 2021 before an upwards revision to $9 billion in February 2022.
Brazilian crypto industry gets regulatory clarity amid global uncertainty
The recent regulatory framework from the Brazilian Congress will benefit the country’s financial institutions and bridge local liquidity with global markets.
BTC price levels to watch as Bitcoin holds $17K into the market open
BTC price strength allows cautious Bitcoin traders outline targets above $17,500.
BTC price levels to watch as Bitcoin holds $17K into the market open
Bitcoin (BTC) cooled volatility above $17,000 into the Dec. 5 Wall Street open as traders confirmed upside targets.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin traders warm to near-term upside
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it held overnight gains, having hit three-week highs.
The weekly close itself was encouraging for some, forming Bitcoin’s highest since the FTX scandal broke.
Now, traders were hoping that upside would continue toward $20,000, with various resistance zones in play.
“Slowly, but surely, Bitcoin is grinding upwards. Needs to crack $17.4-17.6K, but then we most likely continue quite fastly towards $19K,” Michaël van de Poppe, founder and CEO of trading firm Eight, wrote in an update on the day.
Litecoin eyes $100 after 'rare' LTC price breakout
Litecoin (LTC) could rise another 20% amid a rare trend reversal breakout that has already resulted in LTC outperforming most crypto assets in recent days.
LTC's not-so-bearish symmetrical triangle
LTC's price broke out of what earlier appeared to be a bearish symmetrical triangle.
Symmetrical triangles are trend continuation patterns, meaning breaking out of their range typically prompts the price to move in the direction of their previous trend.
Litecoin formed a symmetrical triangle pattern between May and November after dropping 70% to nearly $40 in the prior trading sessions. Ideally, the LTC/USD pair could have resolved the pattern by breaking below its lower trendline.
But instead, it broke above the upper trendline in early November, as shown below. According to Edwards and Magee, the authors of Technical Analysis of Stock Trend, the breakout move is rare, given only 25% of symmetrical triangle breakouts have historically resulted in trend reversals.
