CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News
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Bitcoin sees the key to success, why bulls remain in control
The price of bitcoin has remained in positive territory above the $39,000 level against the U.S. dollar. B
The bitcoin price has started a new rise from the $36,500 support zone. The price even rose above the $40,000 level and stopped above the 100-hour simple moving average. A high was formed around $40,930 and the price is now consolidating gains. It has corrected below the $40,000 support level.
There was a break below the 23.6% Fibonacci retracement level of the uptrend from a swing low of $36,397 to a high of $40,930. It is now holding the $39,000 support level. Also, a key tapering triangle with resistance near $40,200 is forming on the hourly chart of the BTC / USD pair.
Bitcoin price looks even higher
Ethereum is vulnerable to bias if it goes below $2,300
Ethereum is trying to climb above $2,300 and $2,320 against the U.S. dollar.
Ethereum has remained stable above the $2,200 support zone, similar to bitcoin around $38,000.
The bulls made a couple of attempts to strengthen above $2,320, but without success. A high was formed around $2,346, and the price is now correcting upwards. It traded below the 23.6% Fibonacci retracement level of the upward move from the swing low of $2153 to the high of $236.
XRP has jumped 20% in the last 24 hours, will the $1 price break down?
Bitwise liquidates XRP positions and reinvests in bitcoin and Ethereum
XRP has had a tumultuous last 24 hours of trading, with news that the Japan-Philippines corridor has been launched for Ripple’s ODL service, which uses XRP. This shows that XRP is being actively used as an intermediate currency for cross-border transfers. As soon as this news dropped, XRP rose nearly 20% in about an hour.
Bitcoin and Ethereum hashing rates begin to recover as Chinese miners move overseas
The hashing speeds that secure Bitcoin and Ethereum are slowly recovering.
Shenzhen-headquartered BIT Mining said it has already deployed bitcoin and Ethereum mining equipment outside of China.
The hashing power that secures the world’s two largest blockchains is slowly recovering as some Chinese miners have gradually completed their move after being ramped up.
Bipartisan U.S. Senate infrastructure deal adds $28 billion cryptocurrency tax
The U.S. Senate approved a bipartisan $550 billion infrastructure deal for transportation and energy systems.
The Senate proposal would impose stricter rules on cryptocurrency brokers and businesses, requiring them to actively report cryptocurrency transactions over $10,000. The cryptocurrency tax was added at the last minute on July 28, after weeks of wrangling between the two parties.
Ohio Senator Rob Portman, who led Republicans in the infrastructure debate, said crypto rules were among the top priorities of a Congress concerned about crypto taxation and reporting.
Robinhood sets IPO price at the lower level, planning for $2 billion growth
Stock and cryptocurrency brokerage app Robinhood set its initial public offering price at $38.
In announcing prices on July 28, Robinhood said the net proceeds from the public offering would be about $1.89 billion.
It had previously set a price range of $38 to $42. Trading of the stock is expected to begin July 29 on the Nasdaq exchange.
Polygon expands to DeFi with Harvest protocol integration
Decentralized finance veteran Harvest will use Polygon smart contracts to improve yield strategy aggregation
Harvest Finance, one of DeFi’s pioneering revenue aggregation tools, is going to deploy its tools on Polygon’s smart contracts platform.
More than 465,000 bitcoins were transferred by Anon and Coinbase wallets
A sum of about half a million bitcoins has been moved between anon wallets and moved by Coinbase in the last 24 hours.
Blockchain tracker Whale Alert detected nearly 50 consecutive transactions totaling more than 465,000 bitcoins. The transactions were between anonymous cryptocurrency wallets. Coinbase, the largest U.S. digital exchange, participated in four of them.
Profunds launches first publicly available bitcoin mutual fund in the U.S.
ProFunds offers a diverse lineup of mutual funds.
The fund will be called Bitcoin Strategy ProFund and is represented by the ticker symbol BTCFX. The mutual fund provider said its new Bitcoin fund would eliminate the need to buy Bitcoin through unregulated third-party crypto exchanges and wallets. The firm has 20 years of experience managing several innovative funds.