Brace yourself for updates on global crypto.
Investing in the crypto market takes timing and skill, and here, we’ve got a fresh update on this wild week in legendary crypto. Let’s start here.
Are Miners the Big Sellers In Global Crypto?
A recent Bitcoin selloff left even top investors stuck in a limbo …
Others are profiting from the short selling stint, but the curious issue in the matter is that opportunities are still everywhere. The selloff takinging place, according to CryptoQuant, the blockchain analyst, is being led by none other than BTC miners.
It’s a plausible theory since Bitcoin has been halved. The mining rewards it once gave are far from the lucrative payouts we knew. In its analysis, CryptoQuant believes it verified that the BTC selloff ties back to “whale investors.”
The “whales” are big investors in the market who have larger accounts. These are, potentially, the miners.
The $1.2 billion, two-week sell spree is plausibly tied to “miners.”
Those looking at the developments but are cautious should take their time.
Other traders look for a strong-sell cue if BTC breaks $63,000.
Libertex
- Regulated broker by CySEC
- Crypto CFD trading with leverage
- 50k Demo account
Libertex
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The SEC Backs Off of Ethereum 2.0 …
The Security and Exchange Commission stole more limelight in the market than any token or firm in the crypto industry. What’s the news developing around them?
It deals with Consensys Software Inc., the developer of MetaMask wallet, suing the SEC in an attempt to deflect regulatory oversight of Ethereum by the U.S.
The SEC had, back in April 2024, questioned Ether’s legality in a manner that raised bad sentiment and even threatened Americans’ right to buy or sell ETH.
In response to Consensys’s lawsuit to deflect Ether’s oversight, the famed securities agency removed itself from an investigation into Ethereum 2.0. Its letter to Consensys Software read that “no enforcement recommendation” would be made against them.
Ether now sits in a $200 range around $3,450 to $3,650, and its recent uptick came as a result of the news, which boosted trader confidence and resulted in Ether’s 3% rise.
According to the controversial letters sent by the SEC,
“We have concluded the investigation in the above-referenced matter.”
– SEC
“Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against your client, Consensys Software Inc.”
– SEC
Profitability Around Its Highest
With so much turmoil in the crypto market, it’s a big surprise that investors are still largely bullish on crypto and blockchain. The shock factor is the market’s behavior. Bitcoin rose almost beyond $75,000 but fell back down to $65,000 even with Ether’s approval for ETFs.
What’s more difficult to see in the U.S. and across seas is that 87% of Bitcoin’s positions are in profit ranges! Most participants in the market are sitting on profits, which makes sense. The rally began in January with prices at $40,000 as Bitcoin ETFs were just approved.
Even with recent profit taking, the crypto market, largely, holds strong.
Some of you believe that you’re next in the profiting lineup, and we’re right behind you. For a reliable exchange and fast transactions, start with this in-depth review of Coinbase.
We think you’ll enjoy trading there as much as we do …
