As of today, the price has dropped to $66,773. The Relative Strength Index (RSI) is at 47.08, slightly indicating a weakening trend, and trading volume is decreasing. The Simple Moving Average (SMA) is starting to turn downwards, preventing a recent attempt at price recovery.
But hold onto your hats, because Riot isn’t the only one jumping off the Bitcoin bandwagon. Oh no, it’s a regular exodus! Other mining bigwigs have collectively dumped more than 15,000 BTC lately. That’s right, the miners are selling like it’s going out of style, and the market’s feeling the squeeze. Guess they figured it’s better to have cash in hand than crypto in the cloud.
If the charter goes from tentative to official, Coinbase will find itself in the enviable position of offering more than just its traditional custody services. The crypto giant would be able to spread its wings into payment products and other infrastructure under the watchful eye of the federal government. How marvelous, says Paul Grewal, Coinbase’s chief legal officer, in his best CNBC interview voice.
Naoris Protocol’s main network is now fully operational, moving beyond testing and into real-world use. According to Nathaniel Szerezla, the company’s chief growth officer, the network has already processed over 100 million transactions using advanced, future-proof encryption. He emphasized this isn’t a future goal, but a current capability they’ve already achieved.
The channel has already dealt two sharp blows along a familiar road. The first fell 11.49 percent, the second 9.72 percent. A third leg now rises from the early April high, about 5 percent along its road. A hidden bearish divergence on the RSI hints that the correction may press on, while on-chain data reveals short-term participants have not yet reached the bowstring of capitulation required to strike a floor.
Drift Protocol, a decentralized exchange built on Solana, suffered a major security breach on Wednesday, resulting in the theft of hundreds of millions of dollars. The issue came to light after unusual activity was spotted on the blockchain, and Drift confirmed the attack, immediately halting all deposits and withdrawals.
Polymarket has taken a significant step beyond its prediction market roots.
But here’s the thing-market participation is picking up, like a crowded pub before closing time, and the price is compressed under a key level, preparing for what could be a monumental breakout. Or, you know, a spectacular failure. Time will tell.
In a missive dispatched upon the social media platform X (formerly known as Twitter, a name far less pretentious), Mr. McGlone expounded upon his theory. He declares $10,000 to be a point of historical significance, a price at which Bitcoin once dwelt with frequency before its grand ascent in 2020-21. He speaks of a “bursting crypto bubble,” a phrase that sends shivers down the spine of even the most hardened speculator.
