Crypto news

Own Bitcoin or serve the Silicon Overlord.

The key resistance level for $XRP is $2.38. Breaking above it could trigger a major move! 🚀

😱 But Palihapitiya isn’t fazed by the slump, arguing that the dollar has been in decline for decades, and it’s not a major concern because the gains from US assets have consistently outweighed the currency’s depreciation. 💰

Source – X (formerly known as Twitter, currently known as a source of drama)

On the glorious day of July 4, CrypFlow, a voice of authority in the crypto community, shared on X that Bitcoin is displaying a remarkable resilience and technical precision on the chart. After finding its footing at the S1 support, Bitcoin executed a sharp bounce, reclaiming the R/S flip zone around $104,400, a level that has now become a battleground for momentum. However, Bitcoin encountered a formidable resistance at around $109,000, a level that marks the previous highest weekly close. The rejection, a clean technical retest of the $104,400 R/S flip zone, is now a new support, a textbook bullish sign, much to the delight of the bulls.

Now, one might think that this sudden increase in float would be a jolly good thing, but alas, it’s raised concerns about a potential supply glut 🤦‍♂️. Unless matched by proportional demand, the imbalance could trigger further downside across spot and derivatives markets 📊.

Yet even as the world’s financiers clutched their hats, a most undisciplined phenomenon unfolded—DEX to CEX spot trade volume, that unruly upstart, sailed to a record 27.9% in June. DEXes are partying; CEXes are updating their résumés.

The legislation, which narrowly passed Congress, raises the U.S. debt ceiling by a staggering $5 trillion. Critics, including Elon Musk, warn that the move could devalue efforts to reduce public debt and flood the economy with excess liquidity. Musk pointed to Dogecoin’s symbolic savings of $160 billion and questioned its relevance in the face of such massive spending.

Moreno, who I’m pretty sure is just a guy I met at a coffee shop, says it’s probably an early miner. You know, one of those people who were mining Bitcoin back when it was just a hobby and not a way to become a billionaire. The transactions are linked to old block rewards, which means these coins are like the fossils of the crypto world. Instead of selling, it looks like they’re just consolidating their UTXOs (unspent transaction outputs) into a single, larger one. Like, who does that? 🤔

Since the early April downturn, the tech-heavy Nasdaq has soared by 31%, while the broader S&P 500 has rallied by 24%, according to data from the ever-reliable TradingView. Meanwhile, the rest of the world’s major indices, such as Germany’s DAX, France’s CAC, Japan’s Nikkei, and China’s Shanghai Composite, have been left in the dust, gasping for air. 🏃‍♂️💨