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Happy Tuesday Folks! Yesterday, the news cycle was all about Worldcoin; from YouTube to Podcast to News article. Today, it continues as the UK is concerned about Worldcoin. Bitcoin's price continues to float barely over $29K and some believes $28.5K is next. The best performing asset in the past 24 hours continues to be $DOGE - up 2.24% and in position #7 on Coinmarketcap.com. The news cycle continues to be anemic but let's jump in...
Mike McGlone, a Senior Macro Strategist at Bloomberg Intelligence, recently reiterated his belief that Bitcoin (BTC), the flagship cryptocurrency, could reach a staggering $100,000. However, he also issued a warning that Bitcoin might face a significant dip, potentially dropping below $20,000, before achieving this milestone. That said, the next level to watch is $28,500.Market data shows consecutive inflows into crypto-backed investment funds, signaling that traditional investors are experiencing renewed interest in Bitcoin.
Regulators view Bitcoin and other proof-of-work cryptocurrencies as commodities. But mining firms can still trip over securities regulations if they’re not careful. This story is part of CoinDesk's Mining Week.
Alt season? Among the 25 largest exchanges, Bitcoin’s market dominance has dropped to levels not seen since April this year. ETH’s technical and on-chain indicators point toward further downside, but there is a silver lining.
Ripple is working its way around the globe after being approved to operate in Singapore last month.
Timothy Massad, the former CFTC chairman, highlighted the benefits of stablecoins and urged regulators not to discredit their utility when it comes to regulations.
The U.K.'s data watchdog, the Information Commissions Office (ICO), will examine Worldcoin, a project by OpenAI CEO Sam Altman.
A report circulated on Twitter on Tuesday that Kucoin plans to eliminate 30% of its workforce amid declining profit.
Up to 3,950 Coinbase and Binance users have signed up to be represented by John Deaton. Binance intends to file a motion to dismiss a CFTC lawsuit, which alleges it knowingly allowed US-based traders access to crypto derivatives.
U.S. District Judge John Koeltl granted a continuance for former Celsius CEO Alex Mashinsky’s trial start date, citing the “volume of discovery” and the “complexity of the case.”
WATCH
LISTEN
Podcast of the Day: Two VCs on Why This Is the Perfect Time to Invest in Crypto | Unchained
Sources:
Bitcoin Price Action (Cryptoglobe | UToday)
Bitcoin Analysis (CryptoPotato)
Bitcoin Mining (Coindesk | Coindesk | Coindesk)
Alt Season? (Decrypt)
Ethereum Analysis (Cointelegraph)
Ripple Global Expansion (Blockworks)
Stablecoins (Cointelegraph)
WorldCoin (Coindesk | Finbold | Cointelegraph | TB | Coindesk | NewsBTC | CryptoPotato | TDH | Cointelegraph)
Coinbase Lawsuit (UToday)
Binance Legal Woes (Blockworks)
KuCoin layoffs (Coindesk | CryptoPotato | Cointelegraph)
- CEO Response (CryptoPotato)
Outlaw CBDCs (TDH)
Alex Mashinsky (Cointelegraph | Blockworks)
