BitDigest June 3 · Issue #671
- Bitcoin pricing slides back to mid $9,000 levels on sales by unknown mining pools
- Iranian lawmaker tells parliament focus on crypto mining is overlooking importance of digital currencies
- Coinbase cuts reward for USDC
Technical Roundup Analysis
TechnicalRoundup believes the recent price movement above $10,000 is bullish fir bitcoin suggesting that resistance has been broken and the market is shifting positively. However, if bitcoin falls from this current mid $9,000 range, the bullish theory will quickly be invalidated.
Crypto Startup School
Two new presentations have been added to Andreessen Horowitz’s Crypto Startup School: Economic Flywheels by A16Z partner Ali Yahya and Incentive Engineering by Arweave CEO Sam Williams.
The Headlines
Iranian Lawmaker Tells Central Bank to Focus on Crypto
Hainan Development Plans Includes Blockchain
Settlement Reached in Tezos Securities Case
Initial Report Suggests DOT, TRX and CKB Could be Securities
Organization Formed to Standardize Global Token-Powered Ecosystems
New Hourly BTC Benchmark Index Introduced
Oil-Water Blockchain Platform Shows Promising Results
Market Data
$1.4 billion Stolen Through Crypto Activity in 2020
Russia Continues to Lead Global Activity on LocalBitcoins
>89% of All BTC is in the Money
Bitcoin and Gold Showing Increasing Correlation
Exchange, Custody and Product News
Coinbase Cuts USDC Yield
Fireblocks Launches Asset Transfer Network
Kraken Releases Mobile Phones and WiFi Security Guides
Reports you may have missed
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC-4.12% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC-4.12% continued its upward trend over the weekend, now trading just below $66k. ETH-3.44% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-7.62% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...
Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC-4.12% briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH-3.44% followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL-7.62% has shown remarkable resilience amid the turmoil, now...
