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Positive signs of Bitcoin's recovery can be seen in on-chain, spot exchange and futures data. Bitcoin (BTC) had a rough year all throughout 2022. But fresh on-chain and futures market data show positive signs that the leading cryptocurrency by market capitalization has started to recover. After a bevy of short liquidations, the futures market is pointing toward renewed equilibrium. According to data from Glassnode, short position liquidations cleared out unhealthy market speculators, on-chain and exchange data now point to an improving spot market and exchange netflows. A large group of investors that were previously at a loss is now back in the category that Glassnode analysts label as “unrealized profits.” Massive short liquidations set the groundwork for new investors to thrive Futures data typically hold an equilibrium between longs and shorts. As the market moves, investors tend to update their futures to avoid liquidation. Conversely, in mid-January investors were caught of

The Bitcoin dominance index could start falling again if the price of Ethereum can pare its 5% losses versus BTC year-to-date. Bitcoin (BTC) is rapidly regaining its lost dominance in the crypto market so far into 2023. On Jan. 30, Bitcoin accounted for 44.82% of the total crypto market capitalization, the highest since June 2022. In September 2022, Bitcoin's dominance index was as low as 38.84%. The index typically rises when most crypto investors reduce their exposure to smaller tokens and seek safety in Bitcoin. The reasons include Bitcoin's better liquidity and lower volatility than alternative cryptocurrencies, or altcoins, primarily in a bear market. Bitcoin's market dominance to grow further? As of Jan. 31, Bitcoin is up 38% year-to-date (YTD) at around $23,000. In comparison, the second-largest cryptocurrency, Ether (ETH), gained 30% in the same period, showing most investors remain gravitated toward Bitcoin so far in 2023. From a technical perspective, the Bitco

Join Our Telegram channel to stay up to date on breaking news coverage The Biconomy price prediction shows that BICO heads to the upside as the coin moves to cross above the upper boundary. Biconomy Prediction Statistics Data: Biconomy price now – $0.40 Biconomy market cap – $188.3 billion Biconomy circulating supply – 456.9 million Biconomy total supply – 1 billion Biconomy Coinmarketcap ranking – #153 BICO/USD Market Key Levels: Resistance levels: $0.55, $0.60, $0.65 Support levels: $0.30, $0.25, $0.20 BICOUSD – Daily Chart At the time of writing, BICO/USD is likely to create additional gains as the bulls step into the market heavily. The Biconomy price touches a new high level of $0.47 during the European session today. Meanwhile, if there is short-term selling pressure, Biconomy could tackle it and make a comeback at the level mentioned above. Biconomy Price Prediction: Biconomy (BICO) Prepares for More Uptrends According to the daily chart, the Biconomy pric

Source: TradingView The Terra Luna Classic price has dropped by 3% in the past 24 hours, dipping to $0.00016896 as the wider cryptocurrency market suffers a 0.5% fall. Its current level marks a 7% decline in a week, yet LUNC remains up by 18% in the last 30 days, helped in part by the market's mini-recovery and by ongoing efforts to reduce the altcoin's supply. LUNC's decline today comes amid an increase in its 24-hour trading volume to just over $70 million, up from $60 million last week. However, it's likely that much of this additional volume has entered as part of today's selloff, with buyers trying to offload LUNC as the Terra Luna Classic community continues to argue how best to take things forwards. Terra Luna Classic Price Prediction as $70 Million Trading Volume Rushes In – Can LUNC Recover in 2023? LUNC's chart shows that traders may prefer to hold off a little until the altcoin has finished falling. Its relative strength index (pur

The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks’ The White House published a blog post titled “The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks” Friday under the National Economic Council (NEC), an Executive Office of the President (EOP) established to advise the president on U.S. and global economic policy. The roadmap is authored by four White House advisors: NEC Director Brian Deese, Office of Science and Technology Policy (OSTP) Director Arati Prabhakar, Council of Economic Advisers (CEA) Chair Cecilia Rouse, and National Security Advisor Jake Sullivan. The CEA is charged with providing objective econo

The 2022 crypto currency market crash did not spare anyone including the meme coins. The OG meme crypto currency, Dogecoin [DOGE] saw a major plummet despite Elon Musk’s big Twitter takeover. However, in 2023, the asset has grown by over 21%. The real question is if this trend would persist considering the consistent corrections that the market has been enduring. While the meme coin started January on a good note, it might not end the month the same way, According to the community, the asset is expected to slightly plummet on January 31, 2023. CoinMarketCap has an option where individuals can vote and predict the price of crypto currencies. A wide majority of them were seen suggesting that DOGE would most likely trade for $0.08135, during the end of the month. At press time, Elon Musk’s favorite crypto currency stands at $0.08551. Over the week, the asset bagged gains of around 5.50%, this was quite less compared to its counterparts. Source The community was slightly beari

Proponents of the fund had argued that a current surveillance sharing agreement with CME would be adequate to protect investors. The SEC has once again rejected a proposal to list the ARK 21 Shares Bitcoin ETF on equities exchange Cboe BZX, according to Jan. 26 statement from the SEC. The SEC rejected a similar proposal in April, 2022. The SEC has just now once again rejected ARK's and 21Shares spot bitcoin, $BTC ETF listing . — unusual_whales (@unusual_whales) January 26, 2023 The proposed ETF would have been managed jointly by Cathie Wood’s Ark Investment Management and 21Shares if it had been approved. The purpose of the proposed fund was to allow investors to gain exposure to Bitcoin’s price within the confines of the regulated stock market. The Cboe BZX Exchange had originally asked to list the ETF in June, 2021. After the first application was rejected in 2022, it reapplied and made new legal arguments in an attempt to get the fund approved. In its second application back

Source: AdobeStock / Rawpixel.com Attackers hacked into major US online trading platform Robinhood 's social media accounts to promote a scam token. Binance CEO Changpeng Zhao soon said that the account linked to the incident had been locked. On Wednesday, the platform's official Twitter account, RobinhoodApp, posted a "reminder" to its 1.1 million followers that it was launching the RHB token on Binance Smart Chain , offering users to purchase coins for $0.0005 apiece. It included a link to the PancakeSwap platform, where the token is listed. While Robinhood did not post anything about the hack on its own account, it did admit to it in a comment section of another person's post, saying that Twitter wasn't the only account affected, and writing: "We’re aware of the unauthorized posts from Robinhood Twitter, Instagram , and Facebook profiles, which were all removed within minutes. At this time, based on our ongoing investigation, we

Join Our Telegram channel to stay up to date on breaking news coverage Cronos (CRO) started the year on the right foot, recording higher prices every day for the first two weeks of 2023. The upward trend came with the new year hype after the Cronos price broke off from a month-long volatility characterized by many short red and green candlesticks consolidating, as shown in the chart (below). At the time of writing, CRO price was trading at $0.08, after the price lost almost 2.5% in the last 24 hours. The token was recording a 24-hour trading volume of $39.7 million and a live market cap of $2.003 billion, placing the token at #32 on the list of cryptocurrencies by market cap size. Crypto.com Becomes the First Virtual Asset Platform to Achieve ISO 27017/18 Certifications Cronos (CRO) is the native token of the Cronos Chain, a decentralized open-source blockchain developed by the famous payment, trading, and financial services company, Crypto.com. Cronos Chain stands among the

Bitcoin and Ethereum both failed to sustain the momentum they had gained and dipped past the $23,000 and $1,600 marks, respectively. This affected the overall cryptocurrency market value, as it decreased by 3.52% to reach a total of $1 trillion. Since the beginning of 2023, the cryptocurrency markets have grown, with Bitcoin values increasing by more than 40% in recent days. However, Bitcoin's rise appears to be fading as it has begun to fall below $23,000.  However, their recent downward trend could be attributed to reports indicating a surge in cryptocurrency scams last year, resulting in approximately $1 million stolen in the communities of Swift Current and Maidstone alone. Moving on, traders appear hesitant to place any strong bids ahead of this week's economic growth data from the United States. The market is now focused on fourth-quarter US GDP figures due on Thursday, which could set the tone for the Federal Reserve's policy meeting on January 31

Cryptocurrencies continued to consolidate recent gains on Jan. 24, as markets prepared for a big week of U.S. economic data. Gross domestic product (GDP) figures for Q4 2022 will be released on Thursday, followed by consumer sentiment data the day after. Ethereum also secured recent gains in today’s session, with prices nearing a move below $1,600. Bitcoin Bitcoin (BTC) consolidated for a third straight day, as traders continued to secure gains from Saturday, when prices rose to a five-month high. Despite consolidating, BTC/USD remained above $23,000 for most of today’s session, hitting a high of $23,134.01 in the process. This comes less than 24 hours after it was trading at a low of $22,654.30, which is near a short-term support at $22,500. BTC/USD – Daily Chart Looking at the chart, BTC is currently trading at $22,913.54, and this comes as the 14-day relative strength index (RSI) neared a ceiling of 86.00. At the time of writing, the index is tracking at a level of 85.09, wit

Coinbase CEO Brian Armstrong tweeted that BTC may be the “right long-term bet” for the two South American countries currently seeking a common currency. As Brazil and Argentina started preparatory work for a potential common currency, Coinbase CEO Brian Armstrong floated the idea of the two countries moving to Bitcoin (BTC), sparking various discussions over the viability of BTC as a national currency.  On Jan. 22, the two South American countries announced they starting to prepare to create a common currency that would run parallel with the Argentine peso and Brazilian real. The move could potentially create the second-largest currency bloc. As the news broke, Armstrong took to Twitter to suggest that BTC would be the “right long-term bet” and wonder if the two countries would consider it. Global Macro Investor founder and CEO Raoul Pal opposed the idea. According to Pal, having a national currency that “declines 65% in the down part of the business cycle and rises 10x in the up cycl

Bitcoin continued to hover around the $23,000 level on Jan. 23, as bullish sentiment remained high in markets. Over the weekend the world’s largest cryptocurrency rose to its strongest level since August, with bulls moving to consolidate these gains. Ethereum also traded in the green today, remaining above $1,600 in the process. Bitcoin Bitcoin (BTC) continued to trade near a five-month high to start the week, as sentiment in crypto markets remained bullish. Following a low of $22,387.90 on Sunday, BTC/USD hit an intraday peak of $23,056.73 earlier in today’s session. On Saturday, BTC rose to a high of $23,375, which was its strongest point since August 18, and it appears as though bulls are hoping to recapture this point. BTC/USD – Daily Chart In order to achieve this, the 14-day relative strength index (RSI) will likely need to move back towards a ceiling at 91.00. Currently, the index is at the 85.26 level, which is already overbought, and this could lead to some opting to se