Bitcoin Charts First Weekly Golden Cross in 3.5 Years

Bitcoin violated the falling trendline resistance on Dec. 4. So far, however, that has failed to invite buyers in numbers. A UTC close above the Nov. 29 high of $7,870 is needed to invalidate the lower-highs set up and confirm a bullish reversal. That will likely yield a quick move higher to $8,500–$8,672 (61.8 percent retracement of the drop from $10,350 to $6,511).  Source link

Bitcoin Volatility Is Up, Liquidity Stagnant

Liquidity providers are not rushing in. To measure market makers’ enthusiasm for bitcoin, we turn to network data: the aggregate balances of exchange wallets, as a percentage of bitcoin’s total supply. This measure of exchanges’ bitcoin flows shows some responsiveness to volatility. Year-to-date highs were set in late May and early July, when volatility was on the rise and peaking, respectively. Source link

Microsoft Is Using Blockchain to Help Firms Trust AI

One of Microsoft’s customers, Icertis, a cloud-based platform for contract management, tried out Blockchain Data Manager “in preview,” prior to the release at Ignite, and built use cases involving ethical supply chain contracts and the way certain subsidized pharmaceutical drugs are used. Icertis used Quorum for the Data Manager builds, but the firm has used R3’s Corda as its main blockchain previous to that. Source link

Four Insights on Crypto Liquidity From Binance US and FTX

In crypto, it’s exactly the opposite, Bankman-Fried pointed out during our conversation. Exchanges are the biggest, the deepest-pocketed and among the most influential crypto firms operating today. In part, that’s because bitcoin and ethereum aren’t firms. In part, it’s because of crypto’s immaturity: speculating on the speculative activity of others is the only use case that’s really been proven; it’s turtles, all the way down, as the old theological joke goes.  Source link