The result of next week's expected vote on U.S. legislation to regulate the cryptocurrency industry will strongly influence the odds the U.S. Senate gets on board, said Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services Committee and a leading advocate for crypto legislation in the waning months of his career in Congress.
PRESS RELEASE. The XR Foundation in partnership with Saltwater Games is proud to announce the launch of its gaming-dedicated blockchain, XR One. After receiving grant funding from the Arbitrum Foundation, the Saltwater.Labs team has co-developed the Layer 3 Orbit chain leveraging Arbitrum’s ecosystem of technologies. XR One will be powered by its native $XR token
Bitcoin prices are firm, steady above $60,000 despite the ultra-high selling pressure that saw it dump double digits from all-time highs. Despite the current development, one analyst, @el_crypto_prof, is bullish, predicting a welcomed price surge based on the BBWP indicator’s development. Signal Flashes Blue, Time To Buy Bitcoin? Taking to X, the analyst noted that
Bitcoin's rebound triggers debate among investors as market uncertainty persists.
Glassnode data has revealed that Bitcoin long-term holders are taking advantage of the cryptocurrency’s lower price to significantly increase their holdings. This accumulation further strengthens the belief that this group of Bitcoin investors anticipate a potential upside for Bitcoin despite its recent volatility. Long-Term Holders Pay $4.3 Billion For 70,000 BTC According to Glassnode, long-term Bitcoin holders who had previously sold 1 billion BTC in the latter part of 2023 are accumulating once again. This buying activity could be interpreted as a potential bullish signal for Bitcoin. Related Reading: Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst’s Prediction Comes True? Traditionally, Bitcoin long-term holders sell their holdings during peak prices and buy new tokens during periods of correction or substantial declines. When these seasoned investors buy cryptocurrencies during market lows, it usually indicates their expectations of a potential rebound, leading to profits. On the other hand, short-term holders are known to buy cryptocurrencies during sporadic price surges, often signaling that a cryptocurrency is nearing its peak. With Bitcoin presently stabilizing above $61,000, long-term Bitcoin holders probably see the cryptocurrency’s value as a prime buying opportunity. They have recently added a staggering 70,000 BTC valued at over $4.3 billion to their holdings. This sentiment for Bitcoin’s potential rally is also shared by a few crypto analysts who have predicted that the cryptocurrency would surge to new all-time highs during the approaching bull market. Earlier in March, before Bitcoin’s halving event, the cryptocurrency skyrocketed above $73,000, marking a new historic all-time high. With the bull market still on the way, Bitcoin could see further upsides as market conditions improve and investor demand rises. This could potentially lead to profits for long term holders who had purchased the cryptocurrency earlier. Moreover, the upcoming United States inflation report, set for release on May 15, could also be another primary factor driving long-term investors’ substantial BTC accumulation. With the US Consumer Price Index (CPI) remaining historically high, and the Federal Reserve (FED) unchanged rates, Bitcoin is seen as a possible hedge against inflationary pressures, protecting investors’ wealth against decline. Bitcoin Whales Display Opposite Trend Reports from blockchain analytics platform Santiment reveal that Bitcoin whales are showing an opposite trend from long-term holders. The analytics platform noted that Bitcoin whales appear to be taking a break from accumulating BTC, as the number of large-scale transactions has been decreasing significantly. Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price? This trend coincides with the cryptocurrency’s reduced on-chain activities and its declining value over the past few weeks. Crypto analyst Ali Martinez has also shared a similar report, emphasizing that Bitcoin’s accumulation trend score is currently displaying a value closer to zero, indicating that larger investors were distributing their holdings rather than buying. Despite the downtrend, Martinez has disclosed that Bitcoin’s current TD sequential is signaling a buying opportunity and the cryptocurrency was poised for a rebound soon. At the time of writing, the cryptocurrency’s price is trading below $62,000, receiving a decrease of about 6.38% in the last month, according to CoinMarketCap. Featured image from StormGain, chart from Tradingview.com
Coinbase’s chief legal officer thinks the U.S. Securities and Exchange Commission (SEC) is “gaslighting” the US courts and the crypto sector. Coinbase CLO Paul Grewal calls attention to the SEC’s case against Digital Licensing Inc., a Utah-based company that was doing business under the name “DEBT Box.” “In a brief to avoid dismissal of its The post Coinbase Chief Legal Officer Calls Out SEC for ‘Gaslighting’ Crypto Project, Says Practice Should Not Stand appeared first on The Daily Hodl .
BlockDAG’s Dashboard Upgrade & $26M Presale Steals Spotlight From XRP-SEC Dispute & TON’s Volatility The crypto market is witnessing fluctuations such as Toncoin’s (TON) price variations and the ongoing legal tussle between XRP and the Securities and Exchange Commission (SEC). BlockDAG has solidified its position in the cryptocurrency presale arena,
Mastercard’s Multi-Token Network enabled an atomic swap of a tokenized carbon credit for cash in a bank account.
Real Vision analyst Jamie Coutts believes Bitcoin (BTC) and a certain breed of altcoins will be beneficiaries of artificial intelligence’s (AI) rise to prominence. The former Bloomberg analyst tells his 16,200 followers on the social media platform X that AI will need a money system, and that BTC may be the best available form. However, The post Ethereum, Solana and One More ETH-Rival Will Benefit From Rise of Artificial Intelligence: Real Vision Analyst appeared first on The Daily Hodl .
Bitcoin price is at $65,300 while altcoins turn green again. Spot Bitcoin ETFs had a great first quarter, outperforming Gold ETFs. Continue Reading: Investment Giant Offers Bitcoin and Ethereum Services