Bitcoin News Official Today TheBitTimes.com

Bitcoin is holding above $26,500 and the price stability could lead traders to take a second look at SOL, LDO, ICP and VET. The S&P 500 Index nudged higher by 0.45% to record its second positive week. While the United States equities markets were a slow mover, gold witnessed a massive run-up of more than 5% this week. Its rally of 3.11% on Oct. 13 was its best one-day performance since Dec. 1 of last year. However, the Bitcoin (BTC) bulls did not have any such luck as Bitcoin is on track to end the week down more than 3%. Bitcoin’s weakness and the regulatory overhang have kept crypto investors away from altcoins. That has kept Bitcoin’s market dominance hovering near the 50% mark for the past few days. Crypto market data daily view. Source: Coin360 Market observers are likely to keep their focus on Bitcoin for the next few days. The longer the bulls sustain the price above $25,000, the greater the possibility that the next move is likely to be higher. A bullish move in Bitcoin ...

BTC currently makes up 41% of the total crypto market cap — its smallest market share since January. Bitcoin (BTC) is facing fresh competition from altcoins this month as data shows that — technically — it is already "alt season." Figures from CoinMarketCap and TradingView show that BTC currently makes up around 41% of the overall crypto market capitalization — its lowest since the start of 2022. Bitcoin sheds market cap prowess After suffering at the hands of the Terra LUNA collapse, altcoin markets have rallied considerably in recent months.  Alongside Bitcoin's return from 18-month lows of $17,600 in June, altcoins have enjoyed their own renaissance, one which is now giving Bitcoin bulls a run for their money.  According to CoinMarketCap, Bitcoin's market cap share is now at its lowest since mid-January, with largest altcoin Ether (ETH) in particular stealing the limelight in recent weeks. From lows of 14.3% on June 19, Ethereum's market cap dominance now stan...

Given the unique positioning of the crypto mining market, Texas officials believe miners can participate in demand response programs — which involve turning off miners’ power during peak demand. The United States filled in the wide gap in Bitcoin (BTC) mining that was left open by China by the end of June 2021. Despite looming rumors of high power consumption, officials in Texas, one of the fastest growing crypto mining hubs in the US, now believe that mining operations can, in fact, garner a symbiotic relationship with the energy industry.  A newsletter from the Texas Comptroller’s office revealed the state’s pro-crypto stance with the intent to host long-term miners and operators. Clarifying the general misconception about Bitcoin’s energy usage, the fiscal note highlighted that unlike “manufacturing facilities or industrial chemical plants, which can be expected to be around for decades,” cryptocurrency mining facilities do not place big electrical demands on the grid. With greater...

The freeze comes shortly after Terra website was compromised over the weekend by hackers who attempted to scam users via phishing attacks. Layer 1 blockchain Terra has temporarily shut down its website in order to protect users from ongoing phishing scams on the platform. “The terra(dot) money domains have successfully been frozen to prevent further user phishing scams , but a full resolution is still underway,” Terra officially announced on X (formerly Twitter) on Aug. 22. Terra advised all users to avoid engaging with any sites under the aforementioned domain until the foundation posts an official “all-clear” notice from this account. “Our team has been working around the clock to rectify this issue, but we've encountered delays with some third-party responses,” Terra added. The freeze comes shortly after Terra website was compromised over the weekend by hackers who attempted to scam users via phishing attacks. This is a developing story, and further information will be adde...

On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses the launch of the Worldcoin token by OpenAI creator Sam Altman and why it's controversial. In the latest episode of "The Market Report," analyst and writer Marcel Pechman discusses the Worldcoin token launch , why it is controversial, and the differences between it and most altcoins. According to the Analysis , investors should take time to understand the project before even considering an investment. Looking at the tokenomics of the Worldcoin token, launch ed on July 24, there are two absolute outliers. Firstly, the extremely high volume overtook the market cap, as the token reportedly traded 1.6 times its entire capitalization in the first 24 hours. How’s that even possible? According to Pechman, one must understand that the project has lent 100 million tokens to market makers. Only 8 million coins were handed out to users, who may or may not have flipped their positions, but this do...

Judge Analisa Torres has sent the remaining issues in the SEC versus Ripple case to Magistrate Judge Sarah Netburn. The next phase of the ‘SEC vs Ripple’ case is set to move forward as U.S. District Judge Analisa Torres of the Southern District of New York filed paperwork on July 17 referring the case to Magistrate Judge Sarah Netburn. First reported by journalist Eleanor Terrett, the court issued an “amended order of reference to a Magistrate” transferring judiciary oversight of the case to the Magistrate’s office: NEW: District Judge Torres has referred the @Ripple case to Magistrate Judge Netburn for General Pretrial (includes scheduling, discovery, non-dispositive pre-trial motions and settlement). pic.twitter.com/EyrA3flpXC — Eleanor Terrett (@EleanorTerrett) July 17, 2023 The single-page document, which was viewed by Cointelegraph, indicates that the next step will be general pretrial. This stage usually entails discovery and a short window to raise objections. General...

According to the researchers, CryptoRLPM is the first reinforcement learning-based AI system using on-chain metrics for portfolio management. A pair of researchers from the University of Tsukuba in Japan recently built an AI-powered cryptocurrency portfolio management system that utilizes on -chain data for training, the first of its kind according to the scientists.  Called CryptoRLPM, short for “Cryptocurrency reinforcement learning portfolio manager,” the AI system utilizes a training technique called “reinforcement learning" to implement on-chain data into its model. Reinforcement learning (RL) is an optimization paradigm wherein an AI system interacts with its environment — in this case, a cryptocurrency portfolio — and updates its training based on reward signals. CryptoRLPM applies feedback from RL throughout its architecture. The system is structured into five primary units which work together to process information and manage structured portfolio s. These modules in...

ARB’s price notched a double-digit gain after a popular DeFi whale address resumed buying the governance token, but is the rally sustainable? On June 2, the price of Arbitrum jumped alongside the top-ranking cryptocurrencies after the United States Senate voted to raise the debt limit. Why is the ARB price up today? The price of Arbitrum (ARB) rose 9% to an intraday high of $1.25, beating the crypto market’s total overall gains of 1.5% in the same period. ARB/USDT vs. total daily price chart. Source: TradingView Arbitrum’s outperformance coincided with some strange buying activity associated with popular trader Andrew Kang’s crypto address es. Notably, on June 2, the Mechanism Capital co-founder deposited $1 million worth of stablecoins into Arbitrum pools and spent over 20% of it buying RDNT, the native token of decentralized finance lending platform Radiant Capital. Andrew Kang's crypto activity snapped on June 2. Source: Lookonchain Later, Kang exchanged his newly bought and...

Bitcoin’s tight-range trading suggests that traders are content to wait for a catalyst to start the next trending move. Bitcoin has been trading in a narrow range for the past few days. Generally, tight ranges are followed by a range expansion, resulting in strong trending moves. Market intelligence firm Glassnode tweeted on May 22 that Bitcoin’s (BTC) seven-day price range is “comparable to Jan 2023 and July 2020, both of which preceded large market moves.” It is not only Bitcoin — even the S&P 500 Index (SPX) is at a critical juncture. After its 1.65% rise last week, the SPX has reached near a stiff resistance. The market participants will be keenly watching the outcome of the debt ceiling negotiations before attempting to start a trending move. Daily cryptocurrency market performance. Source: Coin360 Another trigger could be the macroeconomic data, as it will provide insights on the likely action by the United States Federal Reserve in its next meeting on June 13 and 14. The Fe...

Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse news on the regional banks as seen from the sell-off in the past three days. Compared to that, Bitcoin (BTC) has held strong and is hovering near its critical overhead resistance at $31,000. Daily cryptocurrency market performance. Source: Coin360 Bitcoin is not the only outperformer. Gold had risen close to its all-time high during the week. This shows that Bitcoin is currently behaving as a safe-haven asset and investors are adding it to their portfolio along with gold. Could Bitcoin overcome the barrier at $31,000 and extend the up-move? Will the altcoins follow Bitcoin hi...

The latest Cointelegraph Report tries to make sense of the Security and Exchange Commission's ongoing crypto crackdown, its rationale, and the potential outcome. The Securities and Exchange Commission (SEC), led by Chairman Gary Gensler, has been at the forefront of the United States' cryptocurrency crackdown. In the last few months, the agency has filed several enforcement actions against major crypto companies that allegedly violated security laws. Critics say the agency has adopted a regulation-by-enforcement approach without providing a proper set of rules that fit the unique Features of crypto assets. A major source of confusion is the definition of a Security and whether it can apply to a highly diverse set of assets such as crypto currencies.  Despite being pressured in a congressional hearing last week, Gensler seems unwilling to take on the political responsibility of entering a constructive dialogue with the industry.  For many crypto companies targeted by the S...

The anonymous MEV bot operator’s best day was April 18, where he profited about $950,000. An anonymous Maximal Extractable Value (MEV) bot operator has cashed in well over $1 million this week by executing “sandwich attacks” against buyers and sellers of two new meme coins. The wallet address, linked to the Ethereum Name Service (ENS) domain “jaredfromsubway.eth” made $950,000 from the sandwich attacks on April 18 and profited about $300,000 and $400,000 on April 17 and 19 respectively according to an April 19 tweet from nonfungible token (NFT) data platform Sealaunch. After closing the day of yesterday with a profit close to $1M, jaredfromsubway.eth MEV bot is already profiting close to $400K today pic.twitter.com/VxouxAc59s — sealaunch.xyz (@SeaLaunch_) April 19, 2023 The bot's ENS domain is a likely tongue-in-cheek nod to the popular sandwich chain and its disgraced former spokesperson Jared Fogle. Over a 24-hour period between April 18 to 19, 7% of all Ethereum gas fees w...

Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins. T ether (USDT) continues to benefit from the ongoing turmoil in the U.S. dollar-backed Stablecoin industry with its market capitalization growing significantly in Q1 2023 at other stablecoin s' expense. Tether market cap reaches $80 billion On April 6, the circulating market cap of USDT surpassed $80 billion for the first time since May 2022 with a gain of $15 billion so far in 2023. USDT circulating market cap 12-month performance. Source: Messari On the other hand, the market caps of its chief rivals, namely USD Coin (USDC) and Binance USD (BUSD), fell by about $12 billion and $9.4 billion, respectively. USDC and BUSD circulating market cap year-to-date performance. Source: Messari Tether benefits from non-U.S. status Crypto traders opted for Tether given the growing concerns around USD Coin and Binance USD. Notably, USDC market capitalization...

The report included 35 pages seemingly aimed at debunking the merits of crypto assets. Crypto executives have expressed irritation over the latest White House economic report — which notably Features an entire chapter dedicated to casting doubts on the merit of digital assets. The Economic Report of the President, released March 20, marks the first time the White House has included a section on digital assets since it first began issuing the annual economic policy report in 1950. Co-founder of digital asset investment firm Paradigm, Fred Ehrsam, remarked that 15% of the Economic Report was dedicated to “crypto FUD.” 15% of the annual White House Economic Report is devoted to crypto FUDhttps://t.co/lQlAyXgfyJ pic.twitter.com/RTZacgXSUg — Fred Ehrsam (@FEhrsam) March 21, 2023 The report includes 35 pages dedicated to debunking the “Perceived Appeal of Crypto Assets” along with a short section on the FedNow payment system and central bank digital currencies (CBDCs). The report...

Record-low volatility and potentially positive macroeconomic data are providing crypto traders with a few opportunities. While 2022 ended on a grim note with macro headwinds providing little hope of a revival in 2023, the start of a new year has surprised bears with a surge in Bitcoin (BTC), Ether (ETH) and altcoin prices. The period of sparse volatility in the crypto market appears to be ending with a breakout on the upside. The increase has been particularly striking in some altcoins such as Lido (LIDO), Solana (SOL), and Cardano (ADA). The primary factors promoting the spike in these coins are the upcoming Ethereum Shanghai update (for LIDO) and the negative funding rate in the futures market, especially for SOL. The negative rates implies that most traders are holding short positions, giving an opportunity for whale buyers to run their stop losses. Funding rates for some other tokens remain exposed to a short squeeze. Moreover, the new year has also seen the re-emergence of the de...