Bitcoin (BTC)Crypto News

Bitcoin falls to 10-week lows, Binance backs Musk’s $500M Twitter deal: this week’s crypto recap

                                                            Der Preis von Bitcoin stürzte auf ein Niveau ab, das wir zuletzt an dem Tag gesehen haben, als Russland in die Ukraine einmarschierte.  Darüber hinaus verlor der gesamte Markt über 150 Milliarden Dollar seiner Kapitalisierung, da die letzten 24 Stunden nichts als Chaos in der Branche verursachten.

Bitcoin’s price is down 9% in the last seven days and it is currently trading slightly above $36,000. This time last week it was cryptocurrency just under $39,000 and the week went relatively well. The price could climb towards $40,000 but unfortunately everything took a turn for the worse yesterday.

BTC crashed from $39.5K to $36K in less than a few hours, leaving over $100M worth of liquidated positions in its wake. At the time of this writing, the price has not recovered. Interestingly, this came as the Luna Foundation Guard (LFG) announced another $1.5 billion purchase of BTC.

Of course, this has taken the entire market down, although some altcoins are doing slightly better than BTC while others have lost more. Ethereumfor example, is down less than 8% while BNB is down 6%. ADA has fallen by 7%. At the other end of the spectrum we have Solana with a loss of 16%, DOT – down 16%, AVAX – 15%, SHIB – 13% and so on. Ultimately, this led to an overall drop worth around $150 billion in total market capitalization.

Aside from the above, recent filings have revealed that Binance – the world’s leading cryptocurrency exchange – backed Elon Musk’s deal to buy and privatize Twitter by giving the initiative a whopping $500 million.

Elsewhere in the markets, the US Federal Reserve announced another rate hike within expected limits of -0.5%. The goal is the growing inflation to fight.

With this in mind, it remains very interesting to see how the markets will develop over the coming week as global geopolitical uncertainty appears to be increasing.

market data

Market Cap: $1,750 billion | 24-hour band: $125 billion | BTC dominance: 39.3%

Bitcoin: $36,150 (-9%) | ETH: $2,699 (-7.9%) | ADA: $0.78 (-6.8%)

This week’s crypto headlines you can’t miss

Luna Foundation Guard bought another $1.5 billion worth of bitcoin. The Luna Foundation Guard (LFG) bought another batch of BTC worth $1.5 billion to support their USTstablecoin– reserve to cover. The purchase came as LFG raised $1 billion in an OTC swap with Genesis and 3AC.

Of the NFTDrop Of Otherside Temporarily Flipped Ethereum Into A Deflationary Asset: DappRadar Reports. Yuga Labs has completed the highly anticipated launch of their Otherside NFT drop. Demand for it was so high that ETH gas prices skyrocketed, turning Ethereum into a deflationary asset for a short period of time.

Binance Receives First European Regulatory Authorization in France. The leading cryptocurrency exchange has managed to reach an important milestone. The company has been registered as a Digital Asset Service Provider (DASP) by the French Stock Exchange Commission.

Fed announces 0.5% rate hike to fight inflation, highest in 22 years The US Federal Reserve announced another rate hike of 0.5% to counter rising inflation. This was the highest hike in 22 years, decided during the last FOMC meeting, which took place this week.

tether has no plans to go public: CTO Paolo Ardoino (exclusive interview). In an exclusive interview with CryptoPotato, Tether CTO Paolo Ardoino revealed that the company behind the world’s largest stablecoin by market cap has no intentions of going public.

Ripple CEO believes SEC lawsuit could be settled later this year Brad Garlinghouse – Ripple’s CEO – believes the legal dispute between the company and the United States Securities and Exchange Commission could be resolved by the end of this year. He said it’s been going well so far.

charts

This week we have a chart analysis of Ethereum, RippleCardano, Tron and Shiba Inu – click here for full price analysis.

Source: Crypto News Deutsch

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