Crypto news

Metaplanet Doubles Down on Bitcoin With New Equity Strategy as the Japan-listed firm expands its funding model to grow its digital asset treasury.

This latest jaw-dropper comes just as experts are ringing alarm bells over quantum computing’s potential to rain on Bitcoin’s parade, though not quite in the dramatic fashion we might have expected. Think less “Hollywood movie disaster” and more “awkward dinner conversation.”

In a recent post on X (formerly Twitter, because why not rename everything every five minutes?), Charles Edwards, the aforementioned chart whisperer, pointed out that Google searches for “Quantum Computing Bitcoin” peaked right when Bitcoin hit its last high. Shocking, I know. It’s almost as if people start worrying about the apocalypse when they’ve got something to lose.

As the clock strikes the present hour, our dear UNI hovers precariously at $3.54, just above the fraying demand zone that had once sparked declarations of hope and sharp rebounds, only to be met with the cruel hand of reality.

Crypto investment products, once hailed as the beacon of financial liberation, now bear the weight of a thousand silent screams. BlackRock, Fidelity, and Bitwise-once titans of trust-now watch their assets bleed away like a wounded beast. The numbers, stark and unyielding, tell a tale of despair: $3.74 billion lost in four weeks, a hemorrhage that would make even the most hardened souls weep.

But lo and behold! The bearish structure threw a tantrum, followed by a cheeky retest of the 78.6% level at a rather lofty $252.9. And what happened next? A dramatic rejection that pointed its finger at $47.9 as the next destination. My, my!

Ah, the fickle nature of fortune! Bitcoin retreated from its weekend highs during a volatile session on Monday, plunging below $68,000 at its intraday low. According to Bitstamp, the leading cryptocurrency fell to $67,268-a nearly 4% drop, darling. This, mere hours after teasing us with the $70,000 threshold. How très dramatic! And all this just 24 hours after it topped $71,700, briefly erasing the previous week’s losses. One can’t help but wonder if it’s all just a game of financial charades.

As Solana (SOL) pranced into what one might have presumed was a bullish corrective phase, it turns out that the price action could not manage to maintain a foothold above those mighty resistance levels. What started as a fabulous bullish continuation has revealed itself to be nothing more than a classic case of a bull trap, snaring those latecomers before the price made a theatrical exit stage left.

Ah, Shiba Inu (SHIB), the canine-inspired jest of the cryptocurrency world, has witnessed a dramatic surge in its burn rate, a spectacle akin to a fireworks display in a deserted field. According to the chronicles of Shibburn, 3,011,445 tokens were immolated, their digital essence forever lost to the ether. This, after weeks of languishing in the doldrums, where the burn rate flirted with zero, mirroring the bearish sentiment of its faithful.

Last year, crypto regained its footing, like a tipsy guest at a society dinner. This year, according to Silicon Valley Bank (SVB), it is to be fully integrated into the financial system. How charming.