This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin’s broader outlook is constructive, but its short-term prospects remain bleak, according to technical analysis. The leading cryptocurrency by market value has bounced back to nearly $104,000 from its overnight low of $104.30, alongside positive action in U.S. equity futures….
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By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin (BTC) and the wider cryptocurrency market recovered from overnight lows, with monero (XMR), XRP and SUI leading the bounce ahead of the pivotal U.S. nonfarm payrolls report, which is expected to show a slowdown in hiring in May. “In the short term, weak data may…
The Bitcoin community is calling on Tesla CEO Elon Musk to stack Bitcoin as a way to gain the upper hand in his ongoing public feud with US President Donald Trump. “The best way for Elon to get back at Trump is by full porting Bitcoin,” crypto trader and analyst Will Clemente said in a…
Memecoin Shiba inu has chalked out a 3% recovery from overnight lows under $0.00001200, outperforming bitcoin despite reports of a massive whale transaction. On Thursday, SHIB experienced a significant 7.7% correction, dropping to 0.0000119 before finding strong support at the 0.0000120 level. Prices have since bounced to $0.00001241, according to CoinDesk data. A massive whale…
Key points: Bitcoin recovered sharply from $100,000 on June 6, but the bears are expected to pose a strong challenge at higher levels. Several altcoins held their respective support levels, signaling a possible consolidation in the near term. Bitcoin (BTC) made a brilliant comeback on June 6, rising above $105,000, indicating solid demand at lower…
President Donald Trump’s media company has registered up to $12 billion in new securities, according to a new S-3 filing. Trump Media and Technology Group (DJT), parent company of social media platform Truth Social, registered with the U.S. Securities and Exchange Commission (SEC) to issue up 84,657,181 shares of Common Stock on Thursday. STORY CONTINUES…
Eric Trump, son of the US President, announced that Trump family-backed crypto platform World Liberty Financial (WLF) plans to acquire a significant amount of the Official Trump memecoin following his endorsement of the token. Some users in the crypto community were surprised that Official Trump (TRUMP) didn’t see a stronger price reaction. “I am proud…
Modular blockchain platform IOST has raised $21 million in a strategic funding round to expand the rollout of its real-world asset (RWA) infrastructure across regulated markets, the company said in a press release on Friday. The round was led by institutional investors DWF Labs, Presto, and Rollman Management Group, the company said. The funding will…
Despite a week of price consolidation for Bitcoin (BTC), emerging digital asset legislation may provide the next significant catalyst for the world’s first cryptocurrency. Upcoming stablecoin rules, such as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, may lay the foundation for a Bitcoin cycle top of over $150,000, according to Alice…