In a remarkable turn of events, Bitcoin (BTC) has broken out of its recent trading range, recording a 7% surge in the past 24 hours alone. The cryptocurrency tests the $66,000 resistance level, setting the stage for a potential move toward higher targets. The latest momentum shift in Bitcoin’s price action has caught the attention of industry experts, particularly the co-founders of on-chain analytics firm Glassnode. According to their analysis, the trigger for a larger market structure release has been in the works since the March highs. Bitcoin Breaks Out The co-founders of Glassnode believe this breakout has been coming for a long time. They state that they have been waiting for the trigger to unleash a major bullish structure since the March highs when Bitcoin reached its current all-time high (ATH) of $73,700, and it looks like the market has finally done so. Related Reading: Analyst Predicts Shiba Inu to Soar 50% Amidst Meme Coin Market Rise They believe the trigger was the recent lower-than-expected US inflation figures and weaker retail sales data, which could prompt a more “dovish stance” from the Federal Reserve. According to the Glassnode co-founders, this opens the door to a more dovish stance from the Fed. They explain that Bitcoin and the market liked this, and now they expect the price to reach $66,000 before $69,000 and then up towards $84,000. They also believe the altcoins will follow this move strongly. However, not all analysts are as bullish in the immediate term. Crypto trader and analyst Justin Bennett suggests that Bitcoin needs to hold the $65,000 level as new support, cautioning that the $68,000 and $73,000 price levels could act as resistance and liquidity pockets. He warns that if Bitcoin loses the $65,000 support, it’s back to the “chopfest” – further consolidation and volatility. Andrew Tate Considers Dumping Fiat For BTC In a surprising move, popular internet personality and self-proclaimed “Top G” Andrew Tate has announced his intention to abandon fiat currency and invest over $100 million into Bitcoin. In a post on social media platform X, formerly known as Twitter, Tate declared, “I’m about to leave fiat completely and ape over 100M into BTC.” Tate, who has faced numerous legal issues and has been banned from several social media platforms, cited his frustrations with the traditional banking system and fiat currency as the driving force behind this potential decision. “I’m done with the banks. I’m done with their money. Done with the scams,” he wrote in the post. Related Reading: Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish In a follow-up post, Tate acknowledged that he has not finalized this decision, as he currently holds more cryptocurrency than fiat currency in his portfolio. However, he hinted that he might “leave fiat completely,” suggesting that his preference for Bitcoin and other digital assets is growing. As of press time, Bitcoin is testing the $65,900 mark, having regained its bullish momentum. It remains to be seen how far the current rally can extend and whether the bullish momentum can survive potential selling pressure at higher price levels. Featured image from Shutterstock, chart from TradingView.com
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Telegram Gaming Token Notcoin (NOT) Surges Nearly 160% This Week To Reach a New All-Time High
A new altcoin connected to a viral game on the encrypted messaging platform Telegram printed fresh all-time highs this week after surging by nearly 160%. NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin that began trading on May 16th when Binance rolled out support for the asset via its Launchpool The post Telegram Gaming Token Notcoin (NOT) Surges Nearly 160% This Week To Reach a New All-Time High appeared first on The Daily Hodl .
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BlockDAG Shines With $37M Presale Following The Dashboard Update As NEAR and Avalanche Prices Climb
In the bustling crypto market, NEAR Protocol and Avalanche are posting substantial gains, forecasting a bright future for their respective prices. Amidst these rising stars, BlockDAG distinguishes itself as the prime investment choice, boasting a successful presale that garnered over $37 million. A recent update to its dashboard has further refined the community experience, making The post BlockDAG Shines With $37M Presale Following The Dashboard Update As NEAR and Avalanche Prices Climb appeared first on Live Bitcoin News .
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UNI Price Slides 8% As Uniswap Delays Crucial Voting Proposal
In a blow to the momentum of the Uniswap native token, UNI, the decentralized exchange (DEX) has been forced to postpone a highly anticipated proposal that would have improved its token governance and fee distribution model. Meanwhile, the company is also locked in a legal battle with the US Securities and Exchange Commission (SEC) over the regulatory status of its UNI token. Postponed UNI Governance Upgrade Sparks Sell-off On Friday, the Uniswap Foundation announced that it was delaying the deployment of the first proposal to activate Uniswap Protocol Governance. The foundation cited the need for additional due diligence on “a new issue” raised by a stakeholder, underscoring the sensitivity of the proposed upgrade. The Foundation further stated: This was unexpected, and we apologize for the postponement. We will keep the community apprised of any material changes and will update you all once we feel more certain about future timeframes. Related Reading: Market Analysis: How Will Mt. Gox’s Bitcoin Distribution Affect Crypto Prices? The shelved proposal aimed to streamline Uniswap’s fee mechanisms, allowing UNI token holders who have staked and delegated their tokens to be rewarded. It would have increased the efficiency of fee adjustments and reduced the governance burden on delegates while maintaining the protocol’s “credible neutrality.” The delay has had a tangible impact on UNI’s price, as seen in the token’s daily UNI/USD chart above. The token has slid down to the key support level at $10.20—an 8.6% decline in the past 24 hours. Should the token fail to regain bullish momentum and the $10 support level, it could retrace further to $9.66 and potentially as low as $9.33. Uniswap In High-Stakes Showdown With SEC Adding to Uniswap’s challenges, the company is embroiled in a high-stakes legal battle with the SEC. The regulatory agency has issued a Wells Notice to Uniswap Labs, signaling its intent to recommend enforcement action against the firm. Uniswap Labs has pushed back, arguing that the SEC’s case is flawed and fails to recognize the distinction between tokens as stores of value and tokens as securities. The company has expressed confidence in a favorable outcome, noting that its legal team has a strong track record of victories against the SEC, stating: But we’re prepared to fight. Our lawyers are 2-0 in high-profile SEC cases. Andrew Ceresney, a former head of enforcement at the SEC, represented Ripple in their victory over the SEC. Don Verrilli, a former U.S. solicitor general, has argued more than 50 cases before the U.S. Supreme Court and represented Grayscale in its successful case against the SEC. Related Reading: Rumor Of Apple Partnership Sends Crypto Altcoin Soaring By 20% Despite these setbacks, Uniswap continues to demonstrate substantial growth, with a total value locked (TVL) of $6.1 billion and a market capitalization of $7.7 billion, according to DeFiLlama data. Moreover, CoinGecko data shows that the UNI token’s trading volume has increased by 21.5% over the past 24 hours, reaching $264 million. As the Uniswap community awaits updates on the delayed governance proposal and the outcome of the SEC battle, the platform’s long-term prospects will likely hinge on its ability to navigate these challenges and maintain its position in the market. Featured image from Shutterstock, chart from TradingView.com
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Crypto Influencer Ansem Clashes With Vitalik Buterin, Triggers ETH Community
Crypto influencer, Ansem has ignited a social media uproar in crypto spaces with a series of posts getting the attention of Ethereum’s co-founder Vitalik Buterin. The frenzy led to wider debates on the efficiency and achievements of the Ethereum blockchain compared to other networks like Solans. Ansem Takes The Heat The recent social media banter The post Crypto Influencer Ansem Clashes With Vitalik Buterin, Triggers ETH Community appeared first on CoinGape .
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New York Tightens Customer Service Regulations for Crypto Companies
The New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory review, and provide quarterly analyses. New York Regulator Requires Crypto Firms to Adopt New
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