(Rachel Sun/CoinDesk)

Umbrel, the company behind umbrelOS, has introduced a new home server solution called Umbrel Home with the intent of providing users control over their data, privacy and digital lives, according to a press release sent to Bitcoin Magazine. Priced at $699, Umbrel Home is aimed at making self-hosting accessible to everyone. By leveraging umbrelOS, users can eliminate the need for third-party cloud services by utilizing a wide range of self-hosted apps available in the Umbrel App Store including a Bitcoin/Lightning node, Nextcloud, Plex and Home Assistant.

According to the press release, Umbrel Home offers accelerated performance, featuring a 2.9GHz Quad-Core Intel CPU, 2TB NVMe SSD, 16GB dual-channel RAM, and an active cooling system while consuming just 10 watts of power. This compact home server outperforms a Raspberry Pi 4-based solution in terms of CPU performance, SSD read and write speeds, RAM and memory bandwidth the release states.

Mayank Chhabra, Umbrel's Co-founder and CEO, highlighted the company's vision for Umbrel Home, saying that "Building a plug-and-play home server that was specifically engineered for umbrelOS has been our dream since day one. With the recent challenges in Raspberry Pi pricing and supply chain, we knew it was time to bring our vision to life, set a new benchmark in self-hosting, and make it accessible to users of all skill levels."

With privacy and data ownership concerns on the rise, self-hosting presents a modern solution that allows users to take ownership of their data, storage, access and sharing. In addition, Umbrel Homes zero-configuration and one-click app installations from the Umbrel App Store make it easy to build a customized ecosystem tailored to individual needs.

Pre-orders for Umbrel Home are now available on umbrel.com, with shipping set to begin in June 2023. With its exceptional performance, user-friendly features and affordability, Umbrel Home aims to make self-hosting accessible to a global audience.

Every year countries are pressured to ramp up their climate change commitments at the COP conference and Bitcoin mining is an easy target.

(James MacDonald/Getty Images)

The key to unlocking this transformation and propelling the industry forward lies in embracing the regenerative economy.

Many firms with generative AI models are being sued for copyright infringement, and the Supreme Court may have just ruined their primary legal defense.

While adopting restrictions on transactions between exchanges, bitFlyer still supports transactions to and from self-custody wallets like MetaMask.

Shahar Madar, the head of security products at Fireblocks, says Web3 startups need to think from the attackers perspective when planning security protocols.

Cityscape Tokyo, Japan (Ryo Yoshitake/Unsplash)

After reporting the vulnerability to Tron in February, the researchers highlighted that the issue was promptly addressed and resolved within a few days.

The latest price moves in bitcoin (BTC) and crypto markets in context for May 30, 2023. First Mover is CoinDesks daily newsletter that contextualizes the latest actions in the crypto markets.

Shiba Inu (SHIB) finds itself amidst a contrasting scenario. Holders of the meme coin and newly emerging addresses are taking conflicting positions, leading to a state of uncertainty.

Some long-standing holders remain steadfast in their belief in the tokens potential, having weathered its volatile journey thus far. On the other hand, fresh addresses, intrigued by the recent buzz surrounding SHIB, bring with them a mix of skepticism and curiosity. This contrasting sentiment within the community creates a dynamic landscape, ripe with possibilities.

However, there remains a glimmer of hope as the trust of whales and the potential for wider adoption may play crucial roles in shaping the future of the token.

New Addresses Up, Signaling Growing Interest In SHIB

The Shiba Inu ecosystem recently witnessed a notable development as the number of new addresses on the SHIB network reached 2,538 on May 26, according to Glassnode. This figure represents the highest influx of new participants or investors into the SHIB ecosystem since February. 

Such a surge in new addresses indicates a growing interest in the SHIB token and potentially impacts the market dynamics. Furthermore, it serves as evidence of increased demand for the token within the crypto community.

Long-Term Shiba Inu Holders Face Challenges

While the entry of new participants is a positive sign for the SHIB ecosystem, the same cannot be said for long-term holders of the token. IntoTheBlock data reveals that approximately 78% of SHIB holders currently find themselves in a position of loss. 

...

Bitcoin Eyes Biggest Monthly Price Decline Since May

(L-R) Shaktikanta Das, Governor, Reserve Bank of India and Nirmala Sitharaman, Indian Finance Minister at the G20 Annual Meetings, in Washington DC in October 2022. (Indian Ministry of Finance)

On-chain data shows the XRP active addresses metric has spiked to historical levels recently, a sign that may turn out to be bullish for the asset.

XRP Daily Active Addresses Has Observed An Uplift Recently

According to data from the on-chain analytics firm Santiment, address activity on the network reached its second and third-highest values ever during the last couple of days.

The active addresses indicator tracks the total number of unique addresses that are participating in some kind of transaction activity on the XRP blockchain daily. This metric accounts for both senders and receivers.

As the indicator only measures the unique number of addresses, it means that even if there are some addresses making multiple transfers on the network in a single day, their contribution toward the metric remains only one unit.

Unique addresses can be thought to be the same as the unique users visiting the blockchain, so the active addresses indicator can tell us about the degree of traffic that the network is observing at the moment.

When the value of this metric is high, it means that a large number of addresses are taking part in transfers on the chain right now. Such a trend suggests that traders are active in the market currently.

On the other hand, low values imply the network isnt observing that much activity right now. This kind of trend can sometimes be a sign that there isnt much interest in the cryptocurrency among general investors.

Now, here is a chart that shows the trend in the Bitcoin daily active addresses over the last few months:

As shown in the above graph, the XRP active addresses had been at relatively low values during the past few weeks, but in the last couple of days, the indicator has suddenly burst into life.

Around two days ago, the metric saw its second-highest-ever daily spike, registering a value of around 490,000. This means that 490,000 unique addresses had been interacting on the chain during this surge.

Yesterday, the metric observed a slowdown and has since dropped down to a value of 281,000. This level, however, is still the third largest in the history of the cryptocurrency, meaning that activity still continues to be at historically high levels right now.

The only instance where a higher value than these spikes was observed (that is, the all-time high of the indicator) was back on the 18th of March. In the chart, Santiment has highlighted this partic...

The BRC-721E token standard was launched by the Ordinals market and the Bitcoin Miladys NFT collection, allowing traders to transfer their ERC-721 NFTs to Ordinals.

Daily charts of RNDR, Nasdaq and total crypto market capitalization (TradingView/CoinDesk)

On-chain analytics platform Spot on Chain reported that Wintermute sold the tokens at $1.63 per OP.

In an intriguing development for crypto traders, Binance Australia has introduced an exclusive Bitcoin discount, offering a unique opportunity for savvy investors. The platforms recent announcement comes in the midst of a countdown to a significant payment deadline, adding a sense of urgency to the offer.

While Bitcoin (BTC) currently trades above $27,000 on several exchanges, it traded at a price of AUD34,863 on (USD22,670) Binance Australia lower than its current price on exchanges. The limited period that comes with the discount has made some traders act fast so as to take advantage of the reduced price.

Bitcoin Trading At A Discount

Recent market data has revealed an intriguing trend on Binance Australia, with Bitcoin and other digital tokens trading at a discount compared to rival exchanges within the country.

CryptoCompare data shows that Bitcoin traded at A$34,863 ($22,670) on Binance Australia, significantly lower than the average price on platforms like Independent Reserve and CoinJar. Notably, discounts of around 20% were also observed for popular tokens such as Ethereum (ETH) and Solana (SOL).

The discount on Binance Australia is closely linked to impending changes in the platforms payment withdrawal options. Starting from 5 p.m. on June 1, users will no longer be able to withdraw Australian dollars to their bank accounts using the popular PayID service.

This follows the platforms earlier loss of access to certain Aussie dollar deposit services, creating a series of challenges for cryptocurrency enthusiasts. 

Industry experts have weighed in on the situation, shedding light on the motivations behind the discounted Bitcoin prices. Richard Galvin, the co-founder of fund manager Digital Asset Capital Management, explains that Australian clients are selling Bitcoin at a discount to ensure they can withdraw their Australian dollars before the payment deadline. This urgency has created a unique opportunity for investors looking to acquire Bitcoin at a reduced price.

Furthermore, to ease the withdrawal process for users, Binance Australia has devised a solution. Following the payment deadline, Australian dollar balances can be converted into the Tether stablecoin, facilitating both withdrawals and trading activities.

The platform is actively seeking alternative providers to restore AUD deposit and withdrawal services, underscoring its commitment to offering a seamless user experi...

The ECB is considering whether to issue its currency in digital form (moerschy/ Pixabay)

Qredo COO Josh Goodbody (Qredo)

Sam Bankman-Fried leaving court on February 16, 2023 (Liz Napolitano/CoinDesk)

Pepecoin (PEPE) has recently experienced a significant development as it hits a crucial bullish order block (OB), raising hopes for a potential recovery opportunity. However, the ability to reverse the prevailing downtrend momentum is contingent upon an essential factor that holds the key to the coins future trajectory. 

In a market characterized by uncertainty, investors and enthusiasts eagerly await the resolution of this pivotal element to determine whether Pepecoin can regain its lost momentum and chart a new course.

Evaluating Pepecoin Price Potential For A Reversal

Since May 24, Pepecoin (PEPE) has exhibited a positive response to the bullish OB. This encouraging price action implies a significant influx of buyers at this level, indicating that the bullish OB could serve as a crucial demand zone capable of triggering a potential price U-turn, especially if Bitcoin makes it past the key $28,000 region. 

Nevertheless, PEPEs price movement currently faces constraints from both ends. On one side, there is the trendline resistance, while on the other side, the bullish OB acts as a limiting factor.

Should the bullish sentiment persist and bulls manage to overcome the resistance posed by the trendline, PEPE could endeavor to rally towards the 50% Fibonacci level, which stands at $0.00000160. 

PEPE currently finds itself in the grips of a challenging market environment, with its CoinGecko price at a meager $0.00000136. The past 24 hours have witnessed a slight slump of 6.5%, further exacerbating the coins struggles, while the seven-day period has seen a significant decline of 13.6%.

...

Investments in top NFT projects such as Doodles, Invisible Friends, Moonbirds and Goblintown have lost up to 95% of their value in Ether.

Volumes on Minswap are rising as meme coins catch on. (Adi Goldstein/Unsplash)

Early private investors will be able to sell some of their holdings. (Unsplash, modified by CoinDesk)

One Bitcoin can be bought for the equivalent of $22,000 on Binance Australia if paid using Australian dollars. The problem is getting the funds there.

Ripples token price is rising above the $0.50 resistance against the US Dollar. XRP price might continue to rise toward the $0.525 and $0.550 resistance levels.

• Ripples token price started a fresh increase above the $0.480 resistance against the US dollar.
• The price is now trading above $0.50 and the 100 simple moving average (4 hours).
• There is a key bullish trend line forming with support near $0.4910 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
• The pair might continue to rise toward the $0.525 and $0.550 resistance levels.

Ripples Token Price Rallies 5%

In the past few days, Ripples XRP saw a decent increase from the $0.420 support against the US Dollar. It outperformed Bitcoin and Ethereum to move into a bullish zone.

There was a clear move above the $0.475 and $0.480 resistance levels. It even surpassed $0.500. A high is formed near $0.5047 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $0.4433 swing low to the $0.5047 high.

XRP price is also trading above $0.50 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support near $0.4910 on the 4-hour chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

Initial resistance is near the $0.5050 zone. The first major resistance is near the $0.525 level. A successful break above the $0.525 resistance level might send the price toward the $0.550 resistance. Any more gains might call for a test of the $0.585 resistance.

Are Dips Limited in XRP?

If ripple fails to clear the $0.505 resistance zone, it could start a downside correction. Initial support on the downside is near th...

CZ highlighted examples such as regulatory complexity and capital requirements as reasons why he isnt keen on Binance buying a bank.

The number of Ordinals has grown from one to 10 million in less than six months.

TrigonX is back from the dead after it went into receivership in December, due in part to its $13 million exposure to bankrupt crypto exchange FTX.

1.00 AUD = 0.00002 BTC
0.00010 BTC = 4.30 AUD
Converter

0.00010 BTC = 2.79 USD
1.00 USD = 0.00004 BTC
Converter

Its no secret that those who feel threatened by Bitcoin will attack it. Just a month ago, The New York Times published a malicious article on Bitcoin minings energy usage. Senator Elizabeth Warren from Massachusetts has repeatedly attacked Bitcoin from a variety of angles, going so far as to launch an anti-crypto army targeting Bitcoin as a hazard to consumers, all while misleading the public on the environmental impact of Bitcoin.

These verbal assaults are not isolated and the examples above represent only a small piece of the uphill climb Bitcoin has to mass adoption. To put it mildly, Bitcoin is disrupting countless industries, making centralized authorities fearful of losing their monopoly on money and the power that accompanies it. Bitcoin essentially calls the bluff on corrupt bureaucrats and infinitely-inflatable fiat currencies that further enrich those who own assets while eating away at the purchasing power of those living paycheck to paycheck. Because Bitcoin is location-agnostic and capable of utilizing flexible loads, it naturally increases demand for the cheapest energy sources, which are often stranded natural gas or renewables.

So, why do many elected officials and companies attempt to denigrate and work to outlaw Bitcoin mining? Likely because their egos prevent them from understanding the value proposition of Bitcoin, but the facts speak for themselves.

Alana Mediavilla is a wife, mother, entrepreneur, business owner, filmmaker and Bitcoiner. She has a hell of a resume and a passion for storytelling. Armed with her knowledge of Bitcoin and skillset, Mediavilla decided to film and produce the documentary Dirty Coin, which highlights the value of Bitcoin mining while simultaneously busting the theory that Bitcoin mining is bad for the environment.

It was a privilege to hear her story and I know you will find her passion for Bitcoin inspiring.

What is your professional background? 

I've been an artist and entrepreneur my whole life. Couldn't help it. Started my production company in Silicon Valley 11 years ago and got recruited to be a video producer at Google Cloud for almost five years while I moonlit still running my creative agency for other big tech folks. In 2021, I parted my full-time ways with Google to focus my efforts on my company and my own IP and films.

How did you first learn about Bitcoin and what categorically drew you to it? 

I learned about Bitcoin during my daughter's ballet class in Campbell, California. A friend of mine that also had his daughter in the...

Ethereum price corrected gains from the $1,920 resistance against the US Dollar. ETH is currently supported and might soon aim for a move toward $2,000.

• Ethereum is currently eyeing a fresh increase above the $1,920 resistance zone.
• The price is trading above $1,880 and the 100-hourly Simple Moving Average.
• There is a major bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could gain bullish momentum if it clears the $1,920 resistance.

Ethereum Price Remains Supported

Ethereums price started a decent increase above the $1,800 resistance. ETH even broke the $1,880 level before the bears appeared near $1,920 and pushed the price lower, similar to Bitcoin.

There was a downside correction below the $1,900 and $1,885 levels. The price spiked below the 50% Fib retracement level of the upward move from the $1,836 swing low to the $1,929 high. However, the bulls were active above the $1,870 level.

There is also a major bullish trend line forming with support near $1,880 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $1,836 swing low to the $1,929 high.

Ether is still trading above $1,880 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,910 zone. The next major resistance is near the $1,920 level. A close above the $1,920 resistance could send Ether toward $2,000.

Source: ETHUSD on TradingView.com

The next resistance sits near $2,040, above which Ethereum could gain pace toward $2,120. Any more gains above the $2,120 resistance zone might send the price toward the $2,200 resistance.

More Losses in ETH?

If Ethereum fails to c...

Bitcoin price is correcting gains from $28,400. BTC must stay above the $27,500 support to start a fresh increase in the near term.

• Bitcoin is correcting gains below the $28,000 support zone.
• The price is trading above $27,500 and the 100 hourly Simple moving average.
• There was a break below a major bullish trend line with support near $27,720 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh increase if the bulls manage to protect the $27,500 support.

Bitcoin Price Corrects Lower

Bitcoin price started a decent increase above the $28,000 resistance zone. However, BTC struggled to clear the $28,400 and $28,500 resistance levels.

A high was formed near $28,450 and the price started a downside correction. There was a move below the $28,000 support zone. The price declined below the 50% Fib retracement level of the upward move from the $27,142 swing low to the $28,450 high.

Besides, there was a break below a major bullish trend line with support near $27,720 on the hourly chart of the BTC/USD pair. Bitcoin price is still trading above $27,500 and the 100 hourly Simple moving average.

It is finding bids near the 61.8% Fib retracement level of the upward move from the $27,142 swing low to the $28,450 high. Immediate resistance on the upside is near the $27,800 level. The next major resistance is near the $28,000 level.

Source: BTCUSD on TradingView.com

An upside break above $28,000 might send the price toward the main resistance at $28,500. A close above the $28,500 resistance zone might start a strong increase toward the $29,200 resistance zone. The next key resistance is near $29,400, above which the price might rise toward the $30,000 resistance.

...

More than 386 million OP tokens are scheduled to be unlocked on May 31, more than doubling the total circulating supply.

Hong Kongs retail trading regime is days away from going live and crypto exchanges are keen to make entry into the region.

White House (Nikhilesh De/CoinDesk)

As June 1 draws closer and the Hong Kong and Chinese investors look forward to legally trading cryptocurrencies once more, the market has already turned bullish. So far, Chinese coins have led the pack when it comes to gains, so here are three of the most popular Chinese tokens likely to rally if the bullish trend continues.

Neo (NEO)

Neo (NEO) has long been a favorite of Chinese investors and is often fondly referred to as the Chinese Ethereum. The cryptocurrency is one of the leading coins from the region so it is no surprise to see that it has moved back into the spotlight as retail traders are set to begin trading cryptocurrencies in Hong Kong on June 1.

The past week has already been profitable for its investors with 13.95% gains already recorded on the weekly chart. In the past day as well, the digital asset has seen gains of 3.34%, but there is still a lot of ground to cover before trading goes live. So NEO could present as a good choice for investors looking to take advantage of the new bull rally being led by Chinese investors.

Conflux (CFX)

Conflux (CFX) is one of the top Chinese coins for investors to keep an eye on during this time. Conflux is a blockchain company based in China and its native token CFX has seen much success this year. However, the drawdown in the price of the coin in the last month has not deterred investors and as the Chinese narrative gains ground, the token has grown as well.

Just like NEO, the last week has been a good one for CFX whose price has risen 9.96% to bring its price above $0.32 once more. The coins trading volume also crossed $117 million in a 24-hour period, indicating that investors are always investing in this token ahead of the anticipated June 1 date.

VeChain (VET)

VeChain (VET) is one of the oldest blockchains in the space which was founded in 2015, the same year as Ethereum. And although VeChain hasnt grown as much as Ethereum, it hasnt been stagnant either and has become one of the foremost Chinese coins, making it a perfect candidate for those looking to take advantage of the present narrative.

Although VET hasnt performed as well as the others on this list, it is up nonetheless with 5.58% gains in the last week. It is also seeing a modest upside of 1.67% on the 24-hour chart, but the promise of more gains remains vast as the last two days leading up to June 1 could see these coins heat up very fast. If the trend continues, then VET could be l...

Bitcoin is finally seeing some green after trading at a loss over the past two weeks. The cryptocurrency continues to trade within a tight range, but activity in the options market could hint at a potential run toward new highs.

As of this writing, Bitcoin (BTC) trades at $27,900 with a 2.5% profit in the last 24 hours. Over the last week, the cryptocurrency has seen twice the profits recording a 4.4% performance. Other cryptocurrencies in the top 10 by market cap are experiencing similar momentum.

Bitcoin Options Hint At Fresh Rally?

Data from crypto options trading platform Deribit indicates a drop in Implied Volatility (IV). This metric measures the expectation of future price movements by market participants.

IV has been trading sideways over the past month, with a tendency to the downside. Deribit claims that growing uncertainty in the crypto market and the macroeconomic landscape is fueling the current dynamic on this metric, which translates into slow price action for BTC and crypto.

As the price of Bitcoin retraces, option buyers have been selling their contracts. When the opposite happens, and BTC sees an uptick, options sellers dump their contracts.

This dynamic has put constant selling pressure on the IV and contributed to suppressing the BTC spot sector. However, the upcoming U.S. debt ceiling, the date this country could default on its national financial commitments, could change the status quo.

The narrative around this event hints at a further appreciation for BTC and risk-on assets. Today, equities and crypto rallied as key political factions in the North American country...

According to Rep. Warren Davidson, legislation to address the U.S. debt ceiling blocks proposed taxes, including a 30% tax on electricity used by crypto miners.

Laotian Prime Minister Sonexay Siphandone chaired the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation.

Tether (USDT) is the largest stablecoin in the market, with a market capitalization of over $86 billion as of May 2023. Despite the concerns about the current state of the cryptocurrency market, Tether has continued to dominate the stablecoin space, with its supply growing significantly since the beginning of 2023. However, there are signs that new competitors may challenge its dominance in the future.

USDTs Reign Over?

According to the researcher and founder of DeFiance Capital, ArthurOx, one factor that may limit Tethers growth is the emergence of new stablecoins. As investors become more concerned about the risks associated with Tether, they are likely to seek alternatives that offer greater transparency and accountability. 

For example, USDC (USD Coin) is a stablecoin fully backed by US dollars held in reserve by regulated financial institutions, and its supply has been growing rapidly in recent years.

Another factor that may limit Tethers growth is the emergence of decentralized stablecoins. These stablecoins are built on blockchain platforms, offering a decentralized alternative to centralized stablecoins like Tether. 

Decentralized stablecoins eliminate the need for a central authority to manage the reserves, as the reserves are held in smart contracts on the blockchain. This offers high transparency and security and eliminates the risk of a central authority mismanaging the reserves or engaging in fraudulent activities.

One example of a decentralized stablecoin is DAI, built on the Ethereum blockchain. DAI is backed by a basket of cryptocurrencies held in smart contracts on the blockchain. This ensures that the value of DAI remains stable while offering high transparency and security.

In addition to these factors, there are also regulatory risks associated with Tether. The stablecoin has come under scrutiny from regulators in the US and other countries, with some calling for greater transparency and oversight. If regulators impose stricter regulations on Tether, this could limit its growth and open up opportunities for other stablecoins to gain market share.

According to a recent report by Kaiko, USDT and USDC have shown little volatility amid the ongoing drama surrounding the US debt ceiling. Despite concerns over a potential US default, USDT and USDC saw little to no price movement over the past two weeks. This suggests that the markets did not view default as the base case scenario and that investors remained confident in the stability of these stablecoins.

Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering measures starting June 1 to trace cryptocurrency transactions.

The news of a tentative debt ceiling deal bolstered Bitcoins price above $28,000, but higher levels continue to attract selling from the bears.

The deal was posted to both the Ethereum network and the protocols official Twitter channel.

American Express plans to extend its AI capabilities through partnerships despite having experimented internally with numerous machine learning-powered services.

State lawmakers passed a proof-of-reserves bill and legislation covering crypto firms usage of flare gas, both awaiting Texas Gov. Greg Abbott's approval or veto as of May 29.

Bitcoin price rallied amid cautious optimism over a tentative deal to lift the U.S. debt limit.

Europe is requiring crypto wallet providers to track every move you make, but companies should still consider the region for its regulatory clarity.

Russia will continue to create new crypto platforms in response to sanctions, State Duma official Anatoly Aksakov said.

With the end of the proofs-of-concept, the Bank of Japan has initiated its CBDC pilot and plans to gather more public and business feedback.

A spike above $28,000 begins to fade as the new week begins, while a U.S. holiday means no external BTC price triggers from equities.

Gavel Justice Legal (Unsplash)

In a recent podcast appearance, Arthur Hayes, the former head of BitMEX, delivered a sobering prediction about the largest cryptocurrency by market capitalization, Bitcoin (BTC).

Hayes believes that Bitcoins anticipated climb to an all-time high of $70,000 is unlikely to materialize this year, dampening the hopes of investors and traders. However, he points to a potentially bullish turn in 2024, driven by a significant event that could shape the markets trajectory.

Bitcoin Rise To $70,000 To Be Delayed

During an episode of the What Bitcoin Did podcast, Hayes shared his perspective on Bitcoins price trajectory. He indicated that breaching the $70,000 milestone is not expected to occur in 2023.

Instead, Hayes suggests that next years anticipated halving event will play a crucial role in determining the markets direction. While the delay may disappoint some, he remains optimistic about a potential breakthrough in the near future.

The former head of BitMEX believes that the upcoming 2024 halving, an event that slashes Bitcoins block reward in half, will be a pivotal moment for the market. He suggests that crossing the $70,000 barrier will likely happen during that time.

However, his long-term forecast raises concerns about an impending blow-off top in 2025 or 2026, potentially signaling a significant societal event or turmoil which he calls Armageddon. Hayes attributes this potential turmoil to factors such as excessive money printing and growing global discontent.

Hayes noted:

We have got this halving next year, 2024. I think thats gonna be a good year. I dont think we get up to $70,000 this year. Next year is when we cross that barrier and then we get the blow-off top 2025, 2026. And then its Armageddon.

BTC Latest Price Action

Meanwhile, Bitcoin has shown a possible brewing uptick in the past week. The largest crypto asset by market capitalization has surged 4.3% in the past week. Over the past 24 hours, BTC has seen a 2.8% gain.

At the time of writing, Bitcoin currently trades at $27,925 after slightly trading above $28,000 on Sunday. Bitcoins trading volume has surged from $5 billion last Monday to $12 billion in the past 24 hours indicating a possible upward momentum.  In addition,...

Yesterday, Polkadot (DOT) reached its weekly high at $5.54 but subsequently started a corrective phase. In the past 24 hours, DOT has managed to retain 1.8% of its overall gains during that period. On the weekly chart, DOT exhibited a 3% price increase.

However, the technical analysis suggests that bears currently have the upper hand, with buying strength and demand remaining low. Despite this, if Bitcoin continues its upward movement toward the $28,000 level, several altcoins, including DOT, may also experience positive price action.

On the flip side, if sellers dominate, DOT could break below its crucial support level, strengthening the bearish sentiment in the upcoming trading sessions. The decline in the DOT market capitalization further indicates the prevailing low buying strength at the present moment.

Polkadot Price Analysis: One-Day Chart

At the time of writing, DOT was trading at $5.47. Following a rejection at the $5.54 level, the altcoin has experienced a retracement on its chart.

The overhead resistance for DOT is currently positioned at $5.58. If the altcoin manages to surpass this resistance level, it could potentially reach $5.80. Despite the price correction, DOT has thus far maintained a position above the crucial support level of $5.40.

However, if sellers gain momentum, the price may drop below the vital support level of $5.40 and trade around $5.30. The trading volume of DOT in the previous session was bearish, indicating a decline in demand driven by the bears on the daily chart.

Technical Analysis

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Bitcoin on-chain data suggests a historical support line may have helped the coin once again as the asset has recovered toward $28,000 today.

Bitcoin Short-Term Holder Cost Basis May Still Be Active As Support

According to data from the on-chain analytics firm Glassnode, the BTC price approached the cost basis of the short-term holders recently. The relevant indicator here is the realized price, which is a metric derived from the realized cap.

The realized cap refers to a capitalization model for Bitcoin that says that the value of each coin in the circulating supply is not the current spot price, but the price at which it was last transacted on the blockchain.

In this way, the model accounts for the price at which each investor acquired their coins. That is, their cost basis. When the realized cap is divided by the number of coins in circulation (to find a sort of average value), the aforementioned realized price emerges.

Related Reading: Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

This realized price signifies the average value at which each holder in the market bought their coins. The metric can also be defined for only partial segments of the market, like the short-term holders (STHs), in which case, the indicator will tell us about the average cost basis among this group only.

The STHs are all those investors who bought their coins less than 155 days ago. The BTC holders outside this group are termed the long-term holders (LTHs).

Now, here is a chart that shows the trend in the Bitcoin realized price for the STHs over the past couple of years:

In the above graph, Glassnode has marked the various instances where the Bitcoin STH realized price has apparently interacted with the spot price of the asset. Back when the 2021 bull run topped out in November, the cryptocurrencys value dropped below this indicator, signaling a change of trend.

From this point on, as the bear market took over, the STH cost basis started providing...

Dogecoin (KNFind/Pixabay)

Whether youre a budding entrepreneur or looking to enhance your business skills, explore the seven books that offer a wealth of knowledge to help you thrive in the dynamic tech industry.

This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.

That was before my time Of course its true, everybody knows its true.

The quote above is from the movie The Sea Beast. And although the film never mentions Bitcoin specifically, it might just be one of the best Bitcoin movies Ive ever seen. 

It is set in a fictional world gripped by perpetual war between a sea-faring economic power and a population of monsters who appear to attack ships out of nowhere. The hunters, the heroes of the story, patrol the seas in a near-constant state of combat, fighting to keep trade routes open and safe. In exchange, they are paid after presenting proof of their monster kills to the monarchy.

It was a fairly overt critique of the military industrial complex, though the deeper theme that I saw was the toxic effects that the media propaganda complex has on a society, reducing peoples ability to exercise discernment, and obscuring objective truth.

Learn History Or Repeat It

I think the reason why The Sea Beast had such an impact on me is because at its core, it is a story of what can happen to society when truth becomes obscured by revisionist history and propaganda. In the end, it was up to individuals to exercise discernment, and break the societal trance that had been propagating violence for generations. In the end, the rulers only ever had power because the people had allowed them to.

American culture and history is rich with individualism and critical thought, such as the idea that taxation without representation is immoral. This ideal ultimately led to the Revolutionary War which founded this country. But now, people are afraid to have real and engaging conversations, especially in public, because it might be considered wrong think or offensive, ultimately leading to the cancellation of their public lives and digital exile.

Bitcoin reinvigorates many things, but the most important I think is the discernment of truth.

Bitcoin is fundamentally an exercise in regaining your power of discernment. One must sift through a slew of propaganda and fear, uncertainty and doubt...

In recent trading sessions, the price of Dogecoin has experienced an upward trend, surpassing a significant resistance level. Over the past 24 hours, DOGE recorded a 1.2% increase, and within the last week, the coin appreciated by 2%.

The technical analysis suggests the possibility of upcoming bullish momentum as buying strength attempts to recover. However, demand and accumulation indicators have not yet entered the positive zone.

To establish bullish control in subsequent sessions, DOGE must surpass a crucial resistance level. The broader markets recovery, including Bitcoins rise above $27,500, may also contribute to the DOGE upward price movement.

The upcoming trading sessions will be crucial in determining whether bulls or bears will dictate the price action. However, the decline in the Dogecoin market capitalization indicates current seller dominance over the asset.

Dogecoin Price Analysis: One-Day Chart

At the time of writing, DOGE was trading at $0.073 and has shown gradual gains since surpassing the $0.070 resistance line. However, a potential price correction could occur if it fails to breach its overhead resistance.

The immediate resistance level for DOGE is set at $0.075. Surpassing this level would likely trigger a rally toward the $0.078 mark, strengthening the position of the bulls.

Conversely, if DOGE fails to hold its current price level, it may decline to $0.071 and potentially drop below $0.070. The recent trading session indicated weak buying strength, as the amount of Dogecoin traded was in the red.

Technical Analysis

The community expressed a range of opinions, with some individuals stating that the ban is reasonable, while others went as far as reconsidering their vacation plans.

The cryptocurrency exchange received in-principle approval to operate in Kazakhstan at the Astana International Financial Centre.

Bitcoin fundamentals are blasting ahead as May comes to an end, while traders remain torn over BTC price strength.

Notable venture capital firms such as Animoca Brands and Binance Labs took part in the funding round.

Dollar flying (QuinceCreative/Pixabay)

Floki Inu (FLOKI) entered the crypto landscape with a wave of enthusiasm, riding on the coattails of the meme coin trend that gained momentum through the success of Dogecoin. Its charismatic Shiba Inu mascot and an active community on social media platforms quickly attracted a dedicated following. 

Floki Inus journey, however, has not been without its fair share of ups and downs.

As the crypto market is known for its volatility, the question arises: Can Floki Inu rally strong enough to regain its coveted spot among the top 100 cryptocurrencies?

Floki Inu Market Cap And Growth Analysis

Floki Inu (FLOKI), despite previously achieving a significant rally that propelled it into the top 100 cryptocurrencies by market capitalization, has recently lost its position among the elite. Currently, FLOKI holds the 121st spot with a market capitalization of $332,037,915.

Within the vast cryptocurrency market, Floki Inu (FLOKI) is currently priced at a modest $0.00003367, as per CoinGecko. Over the past 24 hours, the token experienced a slight 2.8% increase. However, it managed to tally a decent 8.8% over the past seven days. The coin is down 6.7% in the last two weeks.

Despite being introduced in 2021, Floki Inu has not achieved the same extraordinary level of success as renowned meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). However, it would be unjust to characterize FLOKIs growth as disappointing. Since its launch, the token has experienced an impressive surge of 656.12%, illustrating its capacity for generating substantial returns.

Potential Catalysts For Floki Inus Re-entry To Top 100

A pivotal factor in Floki Inus ques...

Ether gas fees have come down to a six-month low. (Unsplash)

Bitcoin (BTC), the pioneer of cryptocurrencies, continues to captivate the financial world with its ever-evolving landscape. In recent developments, Bitcoins active addresses have witnessed a significant surge, soaring to a three-week high. 

This surge in activity has not only breathed new life into the Bitcoin network but has also reverberated in the form of a substantial increase in the cryptos price.

The increased demand resulting from heightened network activity has propelled the alpha coins price to new heights, igniting a sense of excitement and potential within the cryptocurrency market. 

Surge in Bitcoins Active Addresses Signals Growing Utility

Bitcoins utility is on the rise as the number of active addresses for the cryptocurrency has surged to a remarkable three-week high, according to crypto intelligence portal Santiment in a Twitter update.

Mays concerningly low #Bitcoin address activity is finally starting to rebound again. Increasing utility is necessary for #crypto assets to enjoy sustained rallies. Keep an eye on whether $BTC can head into June with 1M or more daily active addresses. https://t.co/LSa2slHWgt pic.twitter.com/zqTH9KGIqc

Santiment (@santimentfeed) May 27, 2023

After a lull in activity, the latest data reveals that the number of active addresses for BTC has reached an impressive 960,000, marking the first time since May 3 that such levels have been attained.

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The court used the word bogus to describe the quotes and citations the New York attorney provided, which were sourced from ChatGPT.

Arbitrum-based Jimbos was exploited. (Clint Patterson/Unsplash)

Singapore cityscape (Shutterstock)

Floki Attracts Chinese Speculators as Valhalla Game Targets Chinese Gaming Market (Christal Yuen/Unsplash)

Cryptocurrency trading is legal in Indonesia, but the use of crypto for payments carries hefty penalties, including jail time.

Former BitMEX CEO Arthur Hayes believes it will cause significant volatility in Bitcoin as well, suggesting it won't likely reach a new all-time high this year.

The popular social platform is about to hit a big milestone in terms of collectible avatar holders after launching Reddit NFTs in July 2022.