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Bitcoin News
Altcoinbuzz
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DappRadar Report: AI dApps Experience 372% Growth in 2024
- AI dApps experience 372% growth in 2024, surpassing blockchain gaming dApps.
- AI dApps account for 28% of daily active wallets in the dApps sector.
- Some of the hottest AI dApps include Alaya AI, DIN, RIDO Protocol, and Holoworld AI.
- AI dApps offer efficiency, personalization, and smarter solutions in an interconnected and data-driven society.
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Coinpedia
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Image Credit: Coinpedia
Bitcoin Price Prediction: Are Bulls Gearing Up for a Breakout Above $68,000 or Just Fizzling Out?
- Bitcoin is approaching an important resistance level of $68,000.
- Short-term bullish movements have not led to sustained rallies in the past.
- Breaking above $64,000-$64,500 would signal a significant bullish move.
- If Bitcoin fails to break the resistance levels, a pullback is likely.
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Medium
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63
Image Credit: Medium
COFFER A SMART CONTRACT MULTI SIG ON BITCOIN
- COFFER is a decentralized smart contract multi sig on bitcoin.
- It supports the seamless transfer of assets from L1 to L2 with reduced gas fees and high speed.
- COFFER-NETWORK allows users to stake, transfer, and earn from their assets.
- Phase 1 point system is currently ongoing with opportunities to earn additional points.
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Zycrypto
1M
22
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China Remains The World’s Largest Bitcoin Mining Hub Despite Crypto Ban
- Chinese miners continue to control the majority of the world's hash rate for Bitcoin mining despite the country's ban on mining.
- Chinese mining pools currently control around 55% of the global Bitcoin mining network, while US pools manage 40%.
- China's dominance in Bitcoin mining comes despite the nationwide ban on mining in 2021, forcing many miners to relocate overseas.
- There have been rumors that China might lift its ban on Bitcoin in 2024, which could lead to a significant price surge for the cryptocurrency.
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1 Like
Coinpedia
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Is Bitcoin the New Safe Haven as Global Liquidity Falls To Level Not Seen Since 2020
- Bitcoin is emerging as a safe haven for investors as global liquidity drops to its lowest level since 2020.
- Financial analysts suggest that Bitcoin's rise reflects growing investor confidence during economic uncertainty.
- Experts predict that Bitcoin could reach $500,000 by 2025, with a potential $1 million by 2030.
- Bitcoin's recent price jump indicates its popularity as a hedge against inflation and a safeguard during economic uncertainty.
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14 Likes
TheNewsCrypto
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Bitcoin Price Slumps Back to $63K Amid Increased Volatility
- Bitcoin recorded a mild price dip of 1.01% in the last 24 hours and slid back to $63,000.
- Bitcoin has shown increased volatility along with its bullish turn this past week.
- Bitcoin is testing its 200-day SMA at $63,925, which could be a major bullish signal.
- Bitcoin has recorded an 8.33% increase in price over the past week.
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Cryptonews
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Analysts Warn of Potential Crypto Consolidation; Some Suggest Harris Could Boost Bitcoin
- Bitcoin and major cryptocurrencies saw gains this week, fueled by the US Federal Reserve's interest rate cut.
- Concerns persist about the sustainability of the rally due to its dependence on futures and perpetual markets.
- Analysts suggest the upcoming US Presidential election could influence crypto prices.
- VanEck suggests that a Harris administration might boost Bitcoin adoption.
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Coinpedia
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Fed Rate Cut Fuels Bitcoin Price: Can BTC Price Surge Above $65K This Week?
- Bitcoin's price has been recovering, climbing from $52,500 and facing resistance at $64K.
- A break above $65K would signal a confirmed uptrend.
- Analysts warn of potential volatility as the Fed hints at further rate cuts.
- Investors advised to remain cautious, follow macro trends, and watch unemployment rates.
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15 Likes
Bitcoinist
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Image Credit: Bitcoinist
Bitcoin Derivatives Positions Piling Up Again: Prepare For Chaos?
- Bitcoin Open Interest on Binance has risen to $28.3 billion, indicating increased speculative interest.
- Rise in Open Interest can lead to more volatility in Bitcoin price.
- Recent spikes in Binance Open Interest have generally been bearish for Bitcoin.
- Bitcoin Funding Rate has been positive, suggesting long-dominant market and potential for a long squeeze.
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18 Likes
Cryptonews
1M
187
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Investor Demand Ramps Up BlackRock Pressure on Coinbase for On-Chain Bitcoin Handling
- BlackRock has adjusted its agreement with Coinbase, requiring Bitcoin withdrawals for its Bitcoin ETF to be settled on a public blockchain address within 12 hours.
- The crypto community expressed doubts about Coinbase’s transparency, especially regarding their synthetic Bitcoin product, cbBTC.
- Concerns arose about cbBTC being a 'paper version' of Bitcoin, raising fears of price manipulation and lack of true Bitcoin backing.
- Coinbase CEO Brian Armstrong addressed the concerns, stating that all transactions are settled on-chain and that cbBTC involves trusting a centralized custodian.
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11 Likes
Newsbtc
1M
59
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Bitcoin Set for Major Bull Run? These 3 On-Chain Metrics Signal A Turning Point
- Bitcoin may be on the cusp of a significant recovery, supported by key on-chain metrics.
- The 7-day Simple Moving Average (SMA) of the Fund Flow Ratio is currently at a crucial support level of 0.05, indicating the end of a bear market or the start of a new bullish phase.
- The 30-day SMA of the Estimated Leverage Ratio is trending upwards, suggesting increased market confidence and potential growth in Bitcoin's price.
- The 30-day Exponential Moving Average (EMA) of Binary Coin Days Destroyed (CDD) indicates that long-term Bitcoin holders are accumulating, further boosting Bitcoin's price in the future.
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Cryptonews
1M
22
Image Credit: Cryptonews
CryptoQuant Report Shows China Still Leads in Bitcoin Mining Despite Ban
- Despite a 2021 ban, China continues to lead in Bitcoin mining hashrate distribution.
- The US, Kazakhstan, and Russia are experiencing growth in mining activities, with the US share increasing steadily.
- CryptoQuant’s CEO highlighted that US miners are mostly institutional, contrasting with China’s smaller-scale operations.
- The rivalry in crypto policies between the US and China could benefit the global industry, as other countries also vie for a share.
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1 Like
Newsbtc
1M
205
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XRP Price Defends Support: Will Bulls Take Over?
- XRP price is consolidating above the $0.5785 support.
- The price is trading below $0.590 and the 100-hourly Simple Moving Average.
- A major bearish trend line is forming with resistance at $0.5850.
- XRP price could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels.
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Bitcoinist
1M
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Image Credit: Bitcoinist
Crypto And US Stocks Near-Record Correlation Levels After Fed Rate Cut—What To Watch For
- Crypto assets and US stocks are displaying a high correlation, suggesting that macroeconomic factors impacting equity markets also influence the digital asset landscape.
- The 40-day correlation coefficient for the top 100 digital assets and the S&P 500 Index is around 0.67, indicating a significant alignment.
- This correlation has been more pronounced following the Federal Reserve's interest rate cut and the recent record highs in US stocks and Bitcoin.
- Investor sentiment has been boosted by Vice President Kamala Harris's support for AI and cryptocurrencies, as well as expectations of further stimulus measures in China.
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11 Likes
Cryptonews
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347
Image Credit: Cryptonews
US Federal Judge Grills SEC Over Refusal to Define Simple Questions About BTC, ETH
- The Securities and Exchange Commission (SEC) is facing criticism from a federal judge over its refusal to provide clear definitions and explanations about Bitcoin (BTC) and Ethereum (ETH).
- The ongoing trial between Coinbase and the SEC has revealed the SEC's lack of clarity regarding its policies and positions related to cryptocurrencies.
- One judge questioned the SEC's inability to explain how the Howey Test applies to Bitcoin and Ether, suggesting a lack of concrete guidelines for policing cryptocurrencies.
- The SEC has been accused of pursuing enforcement actions without proper rulemaking, potentially stifling innovation in the crypto industry.
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