China News Today TheBitTimes.com

Injective and Web3 mobile firm Jambo will partner to promote DeFi in Africa, Latin America and Southeast Asia. The collaboration seeks to make it easy for millions to access dApps via the Jambophone. Injective and Web3 mobile infrastructure platform Jambo have announced a partnership that will see the two companies collaborate to bring blockchain-powered financial solutions to millions of users in emerging markets. The partnership will tap into JamboPhone, a Web3 Android 13 smartphone, to introduce users across Africa, Latin America and Southeast Asia to Injective’s DeFi ecosystem. “Combining Injective’s robust infrastructure stack with Jambo’s mature Web3 mobile technology will enable us to efficiently scale DeFi to the point where it can tangibly help billions of people overcome socioeconomic hurdles, ” Mirza Uddin, head of business at Injective Labs said in an announcement. As part of the collaboration, users in these emergin...

Bitcoin is witnessing a 16-year high in 30-year U.S. government bond yields, and money printing is all but guaranteed, says the ex-BitMEX CEO. Bitcoin (BTC) flipping full bull could come courtesy of the United States government, a new prediction says. In an X thread on Oct. 4, Arthur Hayes, former CEO of crypto exchange BitMEX, eyed ballooning yields as precursor to a new Bitcoin and crypto bull market . Hayes: Bitcoin bulls should eye U.S. "no way out" moment U.S. treasury yields are “screaming higher,” and with that, Hayes believes that a macroeconomic flashpoint is only a matter of time. The reason comes in the form of a so-called “bear steep ener” — a phenomenon that describes long-term interest rates rising more quickly than short-term ones. “Why do I love these markets right now when yields are screaming higher? Bank models have no concept of a bear steepener occurring,” he argued. Given the current steep rise in the 2s30s curve — the difference between the 30-year an...

Bitcoin preserves its snap October gains, but BTC price analysis reveals reasons for staying level-headed on the future. Bitcoin (BTC) aimed for $28,500 at the Oct. 2 Wall Street open as a bullish start to the month continued. BTC/USD 1-day chart. Source: TradingView Analyst wary of Bitcoin "upside wick" fakeout Data from Cointelegraph Markets Pro and TradingView showed BTC price action staying strong into October’s first United States trading session. The largest cryptocurrency made swift gains into the weekly close, this following a contrastingly cool monthly candle completion which saw BTC/USD finish on $26,970. For popular trader and analyst Rekt Capital, this monthly close — despite now being more than 5% below spot price — called for caution. “Bitcoin performed a September Monthly Candle Close below ~$27,100 (black),” he wrote in part of the day’s X Analysis alongside an explanatory chart. “Technically, black was solidified as resistance for September.” Rekt Capital ...

Bitcoin remains stuck in a range, but certain altcoins are showing signs of breaking down in the near term. The bulls tried to shake Bitcoin from its slumber on Sept. 7, but the rally was short-lived. This suggests a lack of clarity between the bulls and the bears about Bitcoin’s (BTC) next directional move. Analyst CryptoCon said on X (formerly Twitter) that Bitcoin could remain in a “mid cycle lull” until the start of the next bull run in November 2024. Along similar lines, ARK Invest said in a report that cryptocurrencies could continue to face headwinds in the remainder of 2023 due to several macroeconomic issues, such as interest rates, gross domestic product estimates, unemployment and inflation. Daily cryptocurrency market performance. Source: Coin360 Sept.In comparison, the bulls will be closely following the decision of the United States Securities and Exchange Commission on the various Bitcoin spot exchange-traded fund (ETF) applications. In addition to that, the race for a ...

Bitcoin price is closely linked to several financial assets but the reasons for correlation with certain precious metals and stocks can be quite different. The financial media often points out Bitcoin’s (BTC) correlation to big tech. “Bitcoin is trading like a tech stock” is a common narrative alongside BTC's often acute inverse-relationship with the United States dollar. But are these correlations set in stone, and can they be useful for predicting future price moves? Let's take a closer look at several reports analyzing the relationship between Bitcoin and various asset types.  Bitcoin's historic correlations vary across timeframes A report published in October 2022 by the Multidisciplinary Digital Publishing Institute arrived at several key conclusions regarding Bitcoin’s correlations with traditional financial assets, including: The extreme volatility of the Bitcoin market means that long-term correlations are stronger than short-term correlations; The “positive linka...

BTC traders fix their eyes on $31,000 even as $2 billion in Bitcoin options are set to expire this Friday. The upcoming $2 billion Bitcoin (BTC) monthly options expiry on July 28 could potentially establish $29,500 as a support level. Some argue that the recent U.S. Federal Reserve interest rate increase to 5.25% had a detrimental effect on risk-on assets like cryptocurrencies. However, Bitcoin bulls believe that the full impact of a tighter economic policy takes time to influence the markets. Bitcoin daily price movements during option expiries. Source: TradingView Looking back, the monthly expiry on June 30 did not cause significant volatility, given that Bitcoin had already experienced a 22.2% gain between June 15 and June 23. Conversely, the May monthly expiry triggered a 9% rally, with Bitcoin's price rising from $26,100 on May 25 to $28,450 on May 29. In contrast, the options expiry in April resulted in a 7% correction, as Bitcoin's price dropped from $29,900 on April 2...

Cardano’s DeFi footprint and network activity show an uptick in users, but will it be enough to sustain ADA’s recent bullish price action? Cardano (ADA) experienced a remarkable price surge of 23.9% on July 13, leaving investors curious about the potential for further gains. This significant rally comes on the heels of a favorable judicial decision regarding XRP, leading many to question if ADA has what it takes to break above the $0.40 mark. Cardano 1-day price in USD at Coinbase. Source: TradingView There are three reasons to support Cardano’s bullish momentum, including its potential to integrate other blockchains, increased activity in decentralized applications, and the decreased regulatory risk, although the latest XRP event requires a more cautious approach. SEC actions specifically named ADA as a potential security Cardano and its ADA token found itself in the spotlight as the Securities and Exchange Commission (SEC) referred to it as a potential security during the recent...

XRP price almost doubled after Ripple's legal win against the U.S. SEC. But can its rally continue after nearly reaching $1? The price of XRP (XRP) has skyrocketed in the aftermath of a federal court ruling saying that its sales on crypto exchanges complied with U.S. securities laws. On July 14, XRP price retreated by about 10% to $0.76, but compared to its lowest price the previous day, it was still up around 65%. Related: Why is XRP price up today? At its highest in the last 24 hours, the XRP/USD pairreached $0.93, its best level since December 2021, just shy of hitting the $1 mark. XRP/USD daily price chart. Source: TradingView A whale-backed XRP rally Certain indicators show that XRP's ongoing price pump may not be just a short-term reaction to the positive news for Ripple. For instance, the duration of XRP's massive pump coincides with its trading volumes reaching a 10-month high. Meanwhile, the number of XRP whale transactions — or wallets holding more than $100,0...

Bitcoin has the chance to set off on a "parabolic curve" as the U.S. dollar index threatens to dive below 100, a popular trader says. Bitcoin (BTC) may see a “parabolic curve” begin thanks to U.S. dollar weakness as the greenback falls to three-month lows. In a tweet on July 11, popular trader Moustache suggested that the time is right for BTC price history to repeat itself. DXY "most important chart" for Bitcoin this year Bitcoin’s formerly strong inverse correlation to dollar strength has waned this year, but its latest movements are a talking point among traders. Data from Cointelegraph Markets Pro and TradingView shows the U.S. dollar index (DXY) on the way to testing support at 100 for the first time in months. Previously above 105, the greenback has faced stiff resistance after last year’s twenty-year highs. As a result of its newfound bearish behavior — which would cement itself further should the 100 mark be lost — Bitcoin stands to win, Moustache believe...

Ethereum price looks poised for additional downside as low as the $1,560 level. Ether (ETH) price plunged 7% between June 14 and June 15, reaching its lowest level in three months and impacting investors’ view that the altcoin was en-route to turning $2,000 to support.  It is worth noting that the $1,620 bottom represents a $196 billion market capitalization for Ether, which is higher than PetroChina’s $186 billion, and not far from chipmaker AMD’s $198 billion. Being the 66th largest global tradable asset in the world is no small feat, especially considering that the cryptocurrency is merely 8 years old and does not return any kind of direct profit for the project’s maintenance. On the other hand, securities enjoy the benefits of corporate earnings and eventual government subsidies, so perhaps investors should be concerned by the recent price drop from Ether. Ether price pressured succumbs to regulation and lowered network activity Regulatory pressure helped to subdue investors’ a...

Bitcoin sentiment is overly bearish, some claim, with BTC price protecting a key moving average trend line. Bitcoin (BTC) held its most recent gains into May 27 as trader s called for a change in “bearish” market sentiment. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Trader awaits "pretty major move" for BTC price Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it entered the weekend at around $26,700. The week’s macroeconomic data from the United States had ended with a surprise, as a new Personal Consumption Expenditures (PCE) index print showed the economy weathering tighter financial conditions much better than expected. Markets then began to price in a June interest rate hike from the Federal Reserve — something which should form a headwind for risk assets but which failed to dampen a BTC price rebound. Despite the price comeback, however, the mood remained cautious — for some, overly cautious. “Retail is so extremely bearish on ...

Bitcoin “panic” is unwarranted, DecenTrader co-founder Philip Swift says, with BTC price action conforming to expectations on longer timeframes. Bitcoin (BTC) is at 10-week lows, but one longtime analyst is telling investors to ignore the “panic.” In a Twitter update on May 25, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite DecenTrader, eyed a BTC price breakout still in progress. Swift: "Bitcoin performing well and as expected" Bitcoin has not traded this low since mid-March, data from Cointelegraph Markets Pro and TradingView shows — and despite residing in a range just $4,000 wide since, cold feet are everywhere. “A lot of panic in the market today,” Swift summarized. BTC/USD is currently testing the mettle of key moving averages, as Cointelegraph reported, against a backdrop of traders’ downside targets extending to $25,000 and below. Even Swift believes that Bitcoin could still return to as low as $20,000 in the coming months, ...

BTC price action may have taken a serious hit last week, but not every class of Bitcoin investor is dashing to the exit. Bitcoin (BTC) starts a new week in a precarious position after seeing its most extensive losses since November 2022. In a major comedown from ten-month highs, BTC/USD lost around 10% before the weekly candle finally closed. At around $27,600, the culmination of a grim few days for long traders means that BTC/USD is now caught battling for last month’s support. Market participants are in two minds as to how the situation might play out — some are betting on deeper downside, while others remain confident of retesting those multi-month highs. Catalysts may come in the form of United States macroeconomic data releases later in the week, while markets are also gearing up for the next Federal Reserve interest rate decision. With the recent correction taking some of the “greed” out of crypto sentiment, can the shock give way to more sustainable upside or is the bull market...