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Bitcoin increases losses, why $30,000 is the key to the next wave
The bitcoin price has continued its decline below the $33,000 support zone against the U.S. dollar.
Bitcoin remained in bearish territory below the $35,500 support zone and continued its decline. However, the price faces strong resistance near the $34,000 level. The 50% Fibonacci retracement level of the recent decline from a swing high of $36,820 to a low of $31,065 seems to be acting as an obstacle.
Ethereum signals recovery, how ETH can start strong growth
Ethereum continued its decline and traded around $2,300 per U.S. dollar.
Ethereum was unable to hold above the key support level of $2550 and continued its decline. ETH traded below $2,440 and $2,400 support levels.
It even broke through the $2,350 level and stopped well below the 100-hour simple moving average. A low of around $2,313 was formed and the price is now correcting upward. It has broken through the $2,400 resistance level.
Binance Coin’s recovery faces new hurdles as multiple sell signals emerge.
Binance Coin’s recovery from $320 is hitting a barrier at the 100 SMA level.
Binance Coin received a rejection last week before hitting the $440 mark. The bearish price move reversed to recovery after a crash to $210 in May.
PayPal processed nearly $2 billion in bitcoin, Ethereum, and Litecoin transactions in May.
PayPal even recorded a new record daily trading volume of $300 million in the last week of May, according to its broker-dealer itBit.
The itBit exchange has recently seen a significant increase in trading volume, indicating that the PayPal cryptocurrency platform is very popular among its users.
XRP tech levels fade, and freefall to $0.65 beckons
Ripple can’t move toward $0.9 despite support at $0.78.
Ripple has maintained a downward price movement since early June. The international money transfer token fell from $1.71 to $0.65 in May but rose to a high of about $1.1 in early June.
MicroStrategy expects to pay $1.6 billion in interest on its throwaway bond deal
MicroStrategy has reportedly raised more than $1.6 billion in orders for its latest bitcoin deal.
The firm said it would raise $400 million to buy bitcoins through a debt offering of senior secured bonds. The net proceeds of the offering will be used to buy bitcoin. The firm raised the amount to $500 million.
El Salvador approves groundbreaking bitcoin bill
The bill has already been called the most important Bitcoin document since the Satoshi White Paper.
The ruling will take effect 90 days after it is published in the Official Gazette.
Salvadoran President Nayib Buquele just tweeted about sending a draft version of his bitcoin bill to Congress.
Australian cryptocurrency exchange Bitunivex plans to go green
Bitunivex.com announced plans to offset its carbon footprint by investing in green crypto initiatives.
The company will begin the project, dubbed “green cryptocurrency,” by building solar and wind farms and connecting them to the grid, then reinvesting the proceeds back into the project.
Bitunivex.com aims not only to offset emissions for its transactions but also to continue the project to offset crypto-mining and liquidity to become a 100% clean source of cryptocurrency.
Spartan Group, backed by institutional interest, closes $110 million DeFi fund
Spartan Group has begun investing in a recently raised $110 million fund.
The new fund, originally targeting $30 million, will focus on the decentralized finance market, with a focus on the application layer. The fund’s mandate is independent of blockchain and will support projects in Ethereum, Solana, and other networks.