The weekly column "Mad Crypto Alpha" provides insights into the cryptocurrency market, including a story of a trader who got liquidated again, advice on the right investment mindset, and expectations for the market in the coming weeks.
Residents in Bono, Arkansas, are experiencing noise pollution from a nearby bitcoin mining facility, resulting in a lawsuit against the plant; the issue raises concerns about the lack of regulations in the state's "right to mine" bitcoin law.
Bitcoin trader believes that the recent correction has positioned BTC for a rally to a new all-time high, citing completion of an ABC corrective wave on the four-hour chart and potential for a fresh record high of $82,228.
This week in crypto news, the criminal trial of Avraham Eisenberg began, raising questions about the legal implications of DeFi transactions, while Uniswap received a lawsuit notice from the SEC, prompting backlash from the crypto community. Additionally, the launch of novel meme coin trend Bitcoin Runes generated excitement and anticipation.
Dogecoin has reached its highest price in years, making it an attractive investment option for thrill-seeking investors, but its long-term prospects may be hindered by its unlimited supply, which could drive down its per-coin price over time.
Celestia (TIA) investors disappointed in the token's correction should take note of Solana's (SOL) price movement in 2020, as it experienced a massive dip followed by a 10,000% rally the next year, according to venture capitalist Chris Burniske.
The recent altcoin meltdown can be attributed to the high rate of new altcoin launches, which led to a depletion of demand and a shift in market momentum, according to a top crypto analyst. However, the analyst believes that the crypto bull market is still intact and expects a recovery and rally in the altcoin market.
Crypto exchange Binance is set to launch trading support for Omni Network (OMNI), an Ethereum-native interoperability protocol, on its Launchpool platform, allowing users to stake BNB and FDUSD to farm OMNI tokens.
Trading in financial instruments and/or cryptocurrencies carries high risks and may not be suitable for all investors, as prices are extremely volatile and can be influenced by external factors; trading on margin increases financial risks.
Bitcoin (BTC) and other major cryptocurrencies experienced a nearly 10% decline, attributed to factors including lower dollar liquidity and tensions between Iran and Israel, causing concerns about the stability of the DeFi sector.
Whales in the Dogecoin community have transferred large amounts of the meme coin amidst a 19.4% price decline, raising speculation about their intentions to buy the dip or store the coins, while the overall cryptocurrency market experiences a correction.
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Tensions between Iran and Israel escalated after Iran launched attacks against Israel with unmanned aircraft, raising concerns about a potential regional war and leading to a 7% drop in Bitcoin price.
The price of bitcoin and other cryptocurrencies experienced a steep decline after Iran's attack on Israel, with bitcoin falling by 7% to $62,570, while ethereum, Binance coin, and solana also saw significant drops in price.
Coinbase's high valuation may make it seem like a bad investment, but the company operates a sophisticated business and has the potential to benefit from the rise of spot Bitcoin ETFs, making it a worthwhile stock investment.
The Humane AI Pin, a $700 wearable personal assistant, has received overwhelmingly negative reviews for being expensive, limited in functionality, and difficult to use. Critics have highlighted issues such as poor connectivity, slow performance, unresponsive touchpad, and inconsistent battery consumption. The device fails to surpass the capabilities of a smartphone and does not address any unmet needs. Despite promised upgrades and a software development kit, the pin is unlikely to redeem itself in the near future.
Setting up a Bitcoin node on a Windows 11 PC can be done using Bitcoin Core software or Umbrel, both of which allow users to validate transactions and contribute to the decentralization and functioning of the Bitcoin network.
Pro-crypto advocate John Deaton has surpassed incumbent Senator Elizabeth Warren in fundraising for the first quarter, raising $1.36 million compared to Warren's $1.1 million, as he garners support from influential figures in the crypto industry.
Amid a bearish market, Shiba Inu experiences a significant liquidation event of $3.63 million worth of tokens, but remains positive with increased network activity and investor confidence.
The 2X Bitcoin Strategy ETF (BITX) has become the largest holder of bitcoin futures contracts at the Chicago Mercantile Exchange (CME) in anticipation of the upcoming bitcoin halving, with an AUM of $3.1 billion. The rise of leveraged and inverse ETFs like BITX has contributed to the increase in long bitcoin futures held by asset managers, making CME the largest crypto derivatives exchange in the world. These ETFs operate differently from spot ETFs, as they bundle cash-settled futures contracts at the CME, and their returns can be double or even larger than spot ETFs during bullish periods. However, they also carry higher risks and require careful monitoring.
Co-founder of Dogecoin, Billy Markus, sarcastically commented on the cryptocurrency's downturn, sparking supportive reactions from the community, as the market experienced losses including a 19% drop in Dogecoin's value.
Wall Street experienced a downward trend, with the S&P 500, Dow, and Nasdaq dropping, while oil prices rose on news of possible attacks by Iran. Additionally, U.S. consumer sentiment decreased, and the likelihood of a Federal Reserve rate cut in June decreased. Benzinga also highlighted bullish and bearish posts on popular stocks.
There are several mobile games available on iOS and Android that pay players in Bitcoin, including Bitcoin Miner, Sweet Bitcoin, Bitcoin Sudoku, SpaceY, Bitcoin Solitaire, and Word Breeze. These games allow players to earn satoshis (the smallest denomination of a Bitcoin) as they play and watch ads, although the payouts are relatively small.
Five prime vacant acres in Paradise Valley, Arizona, are for sale for $15 million or 230 bitcoins, potentially setting a record for buying an Arizona house using cryptocurrency.
Trader Sherpa is bullish on Dogecoin (DOGE) and recommends accumulating the meme coin at $0.15, while also predicting that Bitcoin (BTC) will range trade before making an upward move and Pepe (PEPE) will drop further to the 0.618 Fibonacci level.
Bitcoin has surged back this year, reaching new all-time highs, and legendary bitcoin billionaire Tim Draper predicts that the U.S. dollar will collapse by 2030, leading to a cataclysmic event.
Bitcoin's upcoming halving event, which will reduce mining rewards and slow down supply growth, could lead to higher prices over the next five years, supported by increasing demand and broader cryptocurrency adoption.
Bitcoin analyst Bluntz predicts further upside potential for PUPS (Ordinals) token as it enters a long position amid an ascending channel breakout, while also suggesting that Bitcoin may follow a similar pattern to gold's consolidation before reaching record highs.
Ripple's XRP price is expected to rally alongside Bitcoin, which is predicted to rise before the halving event, and XRP has the potential to benefit from favorable market conditions and chart gains in the coming days.
Coinbase has filed for an interlocutory appeal to challenge the SEC's stance on whether a digital asset transaction, not connected to the original issuer, should be regulated as an investment contract. The appeal could potentially lead to a Supreme Court ruling and have significant implications for the U.S. crypto sector.
Many altcoins experienced a decline this week as inflation rates surpassed expectations, leading to profit-taking and a potential period of correction for cryptocurrency investors.
Polygon (MATIC) price is facing potential correction as investors, including whales, reduce their holdings and network growth hits a seven-month low, indicating a decline in adoption and potential for recovery becoming invalidated.
Top altcoins like Solana, Chainlink, and SingularityNET have the potential to outperform Bitcoin in the 12-month period after the halving due to their unique features and market opportunities.
In the 12-month period after the upcoming Bitcoin halving, altcoins like Solana, Chainlink, and SingularityNET have the potential to outperform Bitcoin and see significant growth due to their unique features and market opportunities in areas such as mobile crypto, real-world asset tokenization, and artificial general intelligence.
The upcoming week will be filled with earnings reports from major companies such as JPMorgan, Goldman Sachs, Charles Schwab, Bank of America, and Netflix, as well as the highly anticipated bitcoin halving event that may impact the cryptocurrency industry.
Major cryptocurrencies experienced a drop in value due to risk-off sentiment in traditional markets and geopolitical uncertainties, resulting in over $877.8 million in liquidations in the crypto derivatives market.
Bitcoin's sharp drop led to the liquidation of speculative crypto positions and a sell-off in smaller digital assets, such as Solana, Cardano, and Polkadot.
Billions of dollars were wiped out from the crypto market as Bitcoin, Ethereum, and Dogecoin experienced significant drops in value, highlighting the volatility and uncertainties surrounding the industry.
Anime-inspired role-playing game Kaidro has become the third most-traded collection on the Mavis Market, generating $2 million in sales and selling out 9,999 Spark Suit NFTs in just 10 seconds on Ethereum scaling network Ronin, following its decision to migrate to Ronin after originally planning to launch on Immutable's gaming-centric Ethereum scaling networks.
Furrever Token (FURR) surpasses $770,000 in fundraising within a month, showcasing its success and investor confidence, while Ethereum (ETH) shows signs of potential recovery and could reach $4,000 in the coming weeks and $5,000 in the second half of the year, and Shiba Inu (SHIB) remains in a consolidation phase but could present a good buying opportunity with a further 15% drop in price.
Speculators in the options market are growing nervous ahead of a Bitcoin code adjustment that occurs every four years, as indicated by an increase in implied volatility for Bitcoin options.
Bitcoin is expected to have another breakout as it accumulates, while gold is on its way to new all-time highs, according to crypto analyst Michaël van de Poppe.
Cryptocurrencies experienced a sharp decline as geopolitical risks and a risk-off sentiment in traditional markets caused bitcoin to drop below $66,000 and other cryptocurrencies to suffer heavy losses.
Berachain, a layer-1 blockchain built with Cosmos tech, has raised $100 million in funding from prominent investors including Brevan Howard Digital and Framework Ventures, to strengthen its initiatives and expand its global presence.
Ethereum and Bitcoin ETFs could potentially be approved in Hong Kong as early as Monday, providing investors with new opportunities and potentially boosting the price of BTC.
Bitcoin and Ethereum's prices have dropped by over 3% and 5% respectively in the past 24 hours, resulting in the liquidation of $200 million in long positions, according to CoinGlass data.
Avail, a blockchain data-availability project, is considering a token airdrop for users of layer-2 rollups and ecosystem developers, following in the footsteps of rival project Celestia, which has already achieved a market capitalization of over $1 billion with its token.
Bitcoin may be giving false bullish signals and could experience a downward move, according to a prominent crypto trader, who also predicts potential dips for Solana-based memecoin dogwifhat and a possible market top for Dogecoin.
Former Amazon security engineer Shakeeb Ahmed has been sentenced to three years in prison for hacking two cryptocurrency exchanges and stealing over $12 million, becoming the first person convicted for hacking a smart contract; Ahmed used his reverse engineering and blockchain audit skills to hack the exchanges, manipulate data, and steal funds, and he also attempted to evade detection and extradition.
BlackRock's iShares Bitcoin Trust (IBIT) has surpassed $15 billion in investment, quickly catching up with Grayscale's Bitcoin Trust, due in part to lower fees and support from the world's biggest asset manager.
