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Guess what day it is Folks? Humpday! Yesterday, a lot of news covered Cardano. Today, the most covered news is all about Bitcoin with this most recent pop; sentiment leans bullish once again. The price of Bitcoin is currently trading at $29,765.18 and is trying to push higher. Let's dive into the news...
BITCOIN
Bitcoin (BTC) briefly broke above the $30,000 threshold within the last 24 hours, defying declining stock prices and a strengthening US dollar. Still, its stay above this pivotal mark was short-lived, as the cryptocurrency quickly retreated to approximately $29,800. But, Bitcoin traders ramp up bullish prognoses as BTC price faces down key resistance — can bulls stay the course? Bitcoin's (BTC) "taker buy-sell ratio" recently surged on several crypto exchanges, signaling a renewed bullish sentiment around $29,000.
The first spot Bitcoin exchange-traded fund (ETF) could be approved sometime before February 2024, according to Galaxy Digital CEO Mike Novogratz — citing sources at BlackRock and Invesco. Billionaire private equity titan David Rubenstein believes Bitcoin (BTC) is here to stay thanks to growing institutional interest as evidenced by BlackRock’s application for a spot bitcoin ETF, as well as general global demand for a form of money that can’t be controlled by governments.
ALTCOINS
The native token of the XRP Ledger, $XRP, has recently formed a bullish ‘golden cross’ pattern, which is formed when an asset’s short-term moving average crosses above its long-term moving average. Golden crosses are seen as a potential indicator for major price rallies. Gemini, a leading cryptocurrency exchange, has shown a renewed interest in Ripple-associated XRP. Large holders on the Cardano ($ADA) network, colloquially known as whales and shakrs, have been actively accumulating tokens, to the point that they added over $116 million worth of the smart contract’s native token since May 21.
STABLECOINS
The stablecoin market is expected to grow to $2.8 trillion of tokenized digital currency in the next five years from $125 billion today, broker Bernstein said in a research report Wednesday.
EXCHANGES
Binance, the world’s largest cryptocurrency exchange by trading volume, has secured dual licenses in El Salvador.
SCAMS
The Cardano community is reeling from shock following a significant rug pull involving a staggering 60,000 ADA. It appears that the project by blockchainmages, which had generated considerable interest and momentum within the Cardano ecosystem, turned out to be a deceptive play, leaving many investors grappling with disbelief and significant financial losses.
WATCH
LISTEN
Podcast of the Day: BTC142: Bitcoin Policy Update Q3 2023 w/ Perianne Boring | Bitcoin Fundamentals
Sources:
Bitcoin (Finbold | CryptoPotato | CoinDesk | TB | Cointelegraph)
Bitcoin ETF (Cointelegraph | CoinDesk | TB)
XRP (UToday | Cryptoglobe)
Cardano (Cryptoglobe)
Stablecoin (CoinDesk)
Binance (Cryptoglobe)
Rug Pull (UToday)
