Risk Aversion Pulls Crypto Market Down, Bitcoin Still Below $40K
The crypto market is still reeling as a result of risk aversion triggered by Russia’s invasion of Ukraine. On Monday, Bitcoin (BTC) fell for the sixth time in six days. It has again failed to break beyond the $40,000 barrier. Bitcoin peaked at $39,536 before plummeting to a low of $37,192. It completed the day around $38,850, having found support at $37,000. The news that the White House is set to issue the long-awaited crypto executive order shook crypto proponents on Monday. Crypto EO Comin’ Up According to a source close to the matter, United States President Joe Biden is....
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Bitcoin has failed to display strength during the past week and remains at risk of revisiting previous lows. The benchmark crypto seems to be negatively reacting to the current macro-environment, and an overall weakness from the buying side. Related Reading | Risk Aversion Pulls Crypto Market Down, Bitcoin Still Below $40K At the time of writing, the price of Bitcoin trades at $38,544 with a 1.2% loss in 24 hours and a correction of 10.8% in the last week. As NewsBTC reported yesterday, Bitcoin has been in an “equilibriums” with speculator dumping their coins for a loss as bulls....
Cardano (ADA) is one of the most popular digital assets in the crypto market. The network which has been the subject of never-ending upgrades has made its mark as a force to be reckoned with, both development-wise and price-wise. However, it has been on a downtrend since it hit its all-time high of $3 last year and has not made any meaningful recovery since then. This has recently been further made worse by accusations about the network’s founder, Charles Hoskinson. Hoskinson who founded Cardano in 2017 has come under fire for some information that was published in journalist Laura Shin’s....
DappBay's Red Alarm is a contract risk scanning tool that helps users identify high-risk projects to avoid rug pulls and frauds. BNB Chain has launched a new platform, DappBay, to discover new Web3 projects with a novel feature called Red Alarm. The new alarm assesses project risk levels in real time and alerts users of potentially risky decentralized applications (DApps), according to a Thursday announcement.Red Alarm is a contract risk scanning tool offered by DappBay that helps users identify high-risk projects to protect their investments from rug pulls and scams. Users can check if a....
In the previous weeks, macroeconomic uncertainty has spurred investment interest in bitcoin, but is this likely to continue? As we covered last week in our H1 2016's market analysis, prices have pushed up 50% from 1st January, and two key drivers were, at least according to market observers, uncertainty in China (where the yuan has been devalued) and Europe (where the UK voted to leave the EU in an event known as the 'Brexit'). Looking ahead to the second half of the year, it remains unclear, however, if these events will continue to be factors impacting digital currency price movements.....
New York State Senator Kevin Thomas, has proposed a bill that seeks to criminalize illegal crypto rug pulls. The lawmakers of New York state seemed to have been rubbed off the wrong way as it has been passing stringent signals to the crypto industry. The legislative amendment in concern proposes penalties for rug pulls and […]