Bitcoin is on the Cusp of Printing a MACD Bull Cross as Stock Market Rallies

Bitcoin was able to post a bullish reaction to its recent dip below $9,000, with its buyers sparking a rally that sent it as high as $9,300. Although this rally has not confirmed any type of notable technical breakout, it has helped shift some of the benchmark cryptocurrency’s technical indicators into the favor of bulls. One analyst is now noting that the crypto is flirting with posting a MACD bull cross. This technical pattern – if confirmed during the imminent daily close – would be a significant development for bulls,…

This Unexpected Metric Shows That Crypto Is in a Booming Bull Market

It’s been hard for some to say that crypto is in a bull market. Despite Bitcoin rallying by over 150% from March’s $3,700 lows, it remains below crucial resistance levels at $10,500 and beyond. The same can be said about Ethereum, which has had similar trouble surmounting $250. Yet there are some early signs that the cryptocurrency market is finally entering a bull phase. And one such sign that a prominent industry executive mentioned is rather unexpected. Related Reading: Crypto Tidbits: Bitcoin Stalls at $9k, Cardano Shelley, Elon Musk &…

The Options Market Expects Bitcoin’s Consolidation to Persist; Why They’re Wrong

Bitcoin has been caught in the throes of an unrelenting bout of consolidation throughout the past several days and weeks, struggling to garner any clear trend. Although it has technically been ranging since the start of May, its trading channel has been narrowing over the past month, with it now trading between $9,000 and $9,300. It does appear that the cryptocurrency is growing weak, however, as it has flashed some bear-favoring signs over the past few days. Currently, BTC is at risk of breaking below the lower boundary of this…

Coinbase and Circle-Backed Stablecoin USD Coin Breaks $1B Market Cap

USD Coin (USDC), a stablecoin project founded by Coinbase and Circle, has hit a major milestone in market capitalization. On July 3, 2020, USDC market cap broke the $1 billion threshold for the first time since the stablecoin was launched in October 2018. According to data from Coin360, the coin has seen sharp growth since March 2020. USDC, the second-largest USD-pegged stablecoin after Tether (USDT), is ranked the 17th largest cryptocurrency by market cap as of press time. USD Coin all-time chart. Source: Coin360 Announcing the news on Thursday, the…

Institutional Market Sentiment Data is Now Available to Anyone

Estonian exchange, CoinMetro, has chosen to make their crypto sentiment analysis tool available to common users. This is the same tool that is used professionally by crypto hedge funds. Although the tool appears rather simplistic, CoinMetro CEO Kevin Murcko told Cointelegraph that the key here is that regular traders get access to exactly the same data that institutions have: “This data that we’re displaying is the same exact data viewed at the same exact time as the institutional player. So while it may like every indicator lag price, you’re getting…

Amazon CEO Bezos Now Has More Money Than Bitcoin’s Market Cap

Jeff Bezos, CEO of online shopping giant Amazon, recently tapped record wealth levels, holding more personal wealth than all the speculative capital currently invested in crypto’s largest asset — Bitcoin (BTC).  “Amazon stock shares surged 4.4% to a record $2,878.70 Wednesday, boosting the founder’s world-leading fortune to $171.6 billion,” Bloomberg said in a July 1 article. “That tops his previous high of $167.7 billion, set on Sept. 4, 2018, according to the Bloomberg Billionaires Index.” Bezos’ deep pockets compared to Bitcoin At press time, Bitcoin holds a market cap of…

Top Copy Trader and Crypto Pundit on Their Market Predictions

There’s a palpable buzz in crypto markets right now. Copy trading is gaining momentum, as it allows investors to emulate the moves of experienced traders. We spoke to Jay Smith, a popular trader on the eToro platform who is otherwise known as Jaynemesis, as well as to Kevin Stanely, the host of the podcast CRYPTO 101. Here, they tell us more about how this feature works, share their predictions for Bitcoin and reveal which altcoins they believe are being badly overlooked right now. 1. Why would an established trader want someone…

LocalBitcoins Revenue Up 10% Despite KYC Impacting Market Share

Veteran peer-to-peer (P2P) crypto marketplace LocalBitcoins has reported annual revenue of nearly $29.5 million for 2019. The revenue comprises a roughly 10% increase over 2018’s $26.9 million, however, the firm also noted a 6% drop in annual operating income to $19.8 million. LocalBitcoins’ staff also expanded significantly last year as the platform strengthened its know-your-customer (KYC) requirements in the third and fourth quarters of last year, with the firm’s headcount increasing from 26 to 43. LocalBitcoins stifles illicit activity “2019 was an invaluable learning experience for us, as we implemented…

SBI Invests $30M in B2C2, Largest Proclaimed Market Maker in XRP

SBI Financial Services, a subsidiary of Japanese financial giant SBI Holdings, has bought a $30 million minority stake in British crypto liquidity startup, B2C2. The investment marks the beginning of a strategic partnership between the firms as B2C2 is set to become SBI’s main liquidity provider. As announced on July 1, the collaboration is aimed to expand SBI’s crypto offering to millions of customers. B2C2 is intended to benefit from SBI’s distribution network as the London-based startup launches an electronic prime brokerage. A spokesperson at B2C2 told Cointelegraph that the…

Crypto “Reserve Currency,” Tether (USDT) Hits a $10 Billion Market Cap

Weeks ago, NewsBTC reported that the market capitalization of leading crypto stablecoin Tether (USDT) was on track to $10 billion. This week, after a large minting of coins, the milestone was reached. Related Reading: A Hacker Just Drained $500k in Ethereum & Altcoins From a DeFi App Crypto’s “Reserve Currency” Hits $10 Billion Market Cap According to Messari analyst Ryan Watkins, the market capitalization of USDT passed 10 billion on June 30th. It is the third cryptocurrency currently in this 10-figure range.” At the start of the year, the market…