The crypto market is in recovery mode on Wednesday following a cascade of selling earlier in the week that for now appears to have flushed out much of the long leverage. The move higher comes alongside a sizable rally in the U.S. stock market following this morning’s Consumer Price Index report that matched economist forecasts. … Read more
It has been a whirlwind. Bitcoin surpassing $100,000 may have been the champagne moment, but the digital asset class has had much to cheer about and digest since the Fed’s easing cycle began on September 18, and even more since the U.S. election. New incoming leadership at the SEC and other regulatory agencies, blockchain-savvy cabinet … Read more
Binance, the world’s largest cryptocurrency exchange, has formed a strategic partnership with stablecoin giant Circle to accelerate global adoption of the USDC stablecoin, the companies said on Wednesday at Abu Dhabi Finance Week. Through the partnership, Circle’s USDC will be more extensively available to over 240 million customers for trading, savings and payments. Binance will … Read more
<a href="https://www.coindesk.com/indices/" target="_blank">CoinDesk Indices</a> presents its daily market update, highlighting the performance of leaders and laggards in the <a href="https://www.coindesk.com/indices/cd20/" target="_blank">CoinDesk 20 Index</a>. The CoinDesk 20 is currently trading at 3744.31, up 5.2% (+185.86) since 4 p.m. ET on Tuesday. All 20 assets are trading higher. Leaders: RENDER (+13.5%) and ETC (+11.3%). Laggards: BTC (+2.4%) … Read more
XRP is hot and it is probably setting up for another big rally. That’s the message from the price chart and options market. The payments-focused cryptocurrency is down 10% this week. The pullback, however, has taken the shape of a bull flag. This technical analysis pattern usually slopes in the opposite direction of the preceding … Read more
By Omkar Godbole (All times ET unless indicated otherwise) If you're waiting for a spark to ignite a Santa rally in bitcoin and the wider crypto market, today's U.S. inflation release might just be it. Initially, I wasn't sure the report matters anymore. Obsessing over prices feels so 2022, when inflation was through the roof … Read more
Italy is set to trim its planned tax increase on crypto capital gains, Reuters reported on Tuesday. Two months ago, the government was intent on raising the tax to 42% from 26% by the end of December. “The tax increase will be significantly reduced during the parliamentary work,” lawmakers Giulio Centemero and Federico Freni, a … Read more
A trader turned $2,500 into $200,000 by buying XRP futures with 500x leverage on cryptocurrency exchange Rollbit on Tuesday. XRP jumped by 26% during U.S. trading hours after Ripple Labs, the company behind XRP, received “final” regulatory approval to offer the RLUSD stablecoin in the U.S. The savvy trader opened a position worth $2,560 when … Read more
XRP outperformed bitcoin and other major cryptocurrencies, with dogecoin (DOGE) leading losses in the past 24 hours before the release of U.S. inflation data later Wednesday. Bitcoin (BTC) remained steady around $98,000, while ether (ETH), BNB Chain’s bnb, and Cardano’s ADA fell by as much as 2%. Memecoin DOGE dropped 4%, even as shiba inu … Read more
For the third week, bitcoin (BTC) remains locked in a price range between $90,000 and $100,000, punctuated only by Dec. 5’s short-lived rise into six figures.This indecisive price action might have left traders feeling uninspired, with two key reasons holding back the upside. First, the influx of liquidity into the crypto market through channels like … Read more