Bitcoin price gives up key trend line as US jobs data deals 5% losses

The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. The drop to $1.65 trillion was followed by Bitcoin (BTC) reaching $35,550, its lowest price in 70 days. Total crypto market cap, USD billion. Source:…

Poolin, one of the largest Bitcoin mining pools by hash rate, has announced it has temporarily suspended Bitcoin and Ether withdrawals from its wallet service due to “liquidity problems.” In a Monday announcement, Poolin said its wallet service was “facing some liquidity problems due to recent increasing demands on withdrawals”…

On-chain data shows Bitcoin miners have deposited large amounts to derivatives exchanges recently, a sign that these network validators may be hedging against potential future falls. Bitcoin Miners Have Been Transferring To Derivatives Exchanges Recently As pointed out by an analyst in a CryptoQuant post, around 4.3k BTC has exited…

One user has filed a class-action lawsuit against crypto exchange Coinbase on behalf of account and wallet holders “who have had their accounts breached and incurred losses arising from the unauthorized transfer of assets.” In an Aug. 15 filing in the U.S. district court for the Northern District of Georgia,…

South Korean automobile manufacturer Hyundai announced today, April 18th, that it has partnered with the Meta Kongz NFT project to create a limited collection of 30 NFTs launching sometime in May 2022. Hyundai also created a new Twitter handle @Hyundai_NFT for its NFT-related communications and posted a video showing an…

Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a “bear pennant” structure. Avalanche could get buried technicals  Bear pennants are bearish continuation patterns, i.e., they resolve after the price breaks out of them to the…