The EUR and Bitcoin are in Focus Today
Hi, and welcome to the daily newsletter by FBS. The market is active, and we have plenty to share with you!
Weekly Cryptonews
Zooko Wilcox, Zcash founder: “In ten years, nobody is going to say, ‘Oh that’s a privacy coin.’ They’re going to say, ‘Oh, that’s a normal coin that you can use for all normal business anywhere in the world.’ Just like how today we don’t say, ‘Oh HTTPS, this must be a privacy website and I must be using a privacy browser.”
On Tuesday, the oldest cryptocurrency bounced from the resistance at $5,636 and fell in the direction of the support at $5,385. The wave of shock has come to the crypto community on Friday after the reports that Bitfinex exchange utilized illegal transactions to cover up $850 million in Tether that were missing. According to the investigation of the New York Attorney General’s office, the missing funds were removed from the USDT reserves and the loss was never revealed to investors. The price for Bitcoin has fallen sharply on the news and tested the ground below the $5,245 level. At the moment of writing (12:50 MT), it is trading near the support at $5,385. On the downside, the strong bearish pressure may pull the price for the digital asset below this level to the next support at $5,245. On the upside, if bulls take over the market, they will target the resistance at $5,636. If this level is broken, the next resistance will lie at $6,184.
If we look at indicators, MACD formed lower highs, which signals a potential reversal to the downside.
New announces:
- British online banking Wirex will release 26 stablecoins backed by different fiat currencies on the Stellar blockchain.
- The subsidiary of the French financial conglomerate Societe Generale released tokenized shares with the cost of 100 million euro on the Ethereum blockchain.
- The Moon startup launched a service for buying goods on Amazon with BTC, LTC, and ETH. You need a Lightning-wallet to do this.
- 220 banks joined the blockchain payment system Interbank Information Network by JPMorgan.
- Samsung invests $2.9 million into crypto startup Ledger.
- Yelp introduced a new search tag that allows users to tag and search vendors who accept cryptocurrency for payment.
Current prices (last update 13:14 MT time)
Bitcoin $5,411
DASH $113.84
Ethereum $158.73
Litecoin: $74.31
Similar
The EUR Lost the Power but Gold Didn't
Hello, and welcome to the last week of July. The following five trading days will be filled with events and, hopefully, amazing setups for trading. Let’s jump right in!
Bulls Don't Want to Miss This Week
Hello, and welcome to the first week of July. Today’s movers: the dollar is rising ahead of the PMI release, the US500 is at a 15-month high, and more.
Latest news
The US Dollar Is Correcting
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
Bearish Signal For The USD
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
