Crypto Morning: Bitcoin (BTC) Rises and Tries to Save the ,000 Level;  the data suggests a price rally soon

Crypto Morning: Bitcoin (BTC) Rises and Tries to Save the $20,000 Level; the data suggests a price rally soon

After the holiday in the United States, the cryptocurrency market is increasing this Tuesday (6). Bitcoin (BTC) is up 0.8% at 19,913.55, according to CoinGecko data. Ethereum (ETH) is up 5.7% to trade at $1,652.72, as investors look to the completion of another step towards the Union, called Bellatrix.

In Brazil, Bitcoin shows a slight increase, with a gain of 0.5%, quoted at R $ 103,324.83, according to the Bitcoin Portal Index (IPB).

Many Altcoins gain strength in the last 24 hours, among them Binance Coin (+1.6%), Cardano (+2.8%), XRP (+2.6%), Solana (+4.2%), Polkadot (+1.3%), Dogecoin ( 2 %), Shiba Inu (+1.5%), Polygon (+1.3%) and Alavanche (+6.3%).

Bitcoin today

Bitcoin is trading around $20,000 for nine consecutive days, according to CoinDesk. Unlike the stock and bond markets, where sudden low price swings can be positive, BTC’s low volatility challenges traders and exchanges, who often benefit from the ups and downs of larger cryptocurrencies, it shows. analysis from Reuters.

Martin Leinweber, digital asset strategist at MarketVector, told the media outlet that “Bitcoin is not dead” but that trading fatigue is causing traders to look for alternatives like Ethereum, currently the most attractive in anticipation of an improvement. blockchain.

Bitcoin’s 30-day average volatility has fallen from more than 4% in early July to 2.7%, according to data firm Coinglass. Behind this trend, according to analysts, may be the low interest in trading cryptocurrencies after the losses caused by the collapse of the Terra system and crypto credit platforms.

Bitcoin Dormancy

However, measures of Bitcoin’s dormancy, or inactivity, could signal a price rally, they point out CoinDesk. Data from Glassnode shows that the percentage of BTC “dormant” for at least a year has reached a record 65.76%. At historical rates, a rally may be on the way after the metric peak.

Additionally, according to the Puell Multiple tool, long-term investors will be taking advantage of lower prices collect bitcoinsdespite macroeconomic constraints.

Other data collected by CryptoQuant shows that the leverage positions of Ethereum and Bitcoin are at record levels, even with price fluctuations. This may be a sign that the line of business may eventually expand, according to Bloomberg.

Ethereum Alliance

Ethereum, the second largest cryptocurrency, has overtaken the price of Bitcoin since the crisis of the Earth’s ecosystem in mid-June, it says. report from Citigroup. ETH is up 43% over the period, compared to BTC’s 1.4% drop.

The Internet connection planned for this month differs from previous updates because, for the first time, digital assets are facing a lower financial situation, explains Citi.

In Australia, for example, the central bank raised the interest rate for half a percent for the fourth time this Tuesday (sixth) to fight inflation.

Other cryptocurrency attractions

Research by research firm Comparitech exposed and Valor Investe planned what it was possible to buy with one, 10 and 100 bitcoins on different dates.: if in March 2021 100 bitcoins were worth enough to buy Trump Island (an island off the coast of Washington), today, with BTC around 20,000 US dollars, that amount is not enough to buy a three-room apartment in Brooklyn. New York.

Binance will remove USD currency (USDC), dollar coin coin issued by Circle, the second communiqué. In this way, the largest crypto exchange in the world closes the doors of its platform to the direct competitor of Binance USD (BUSD), a stablecoin pegged to the company’s American currency. The delisting process begins on September 26.

Starting on the 29th, Binance will replace existing balances with new deposits of USDC, Pax Dollar (USDP) and True USD (TUSD) in its currency. The decision, which Binance says is aimed at increasing liquidity, is “bold and unprecedented.” say Bloomberg Hagen Rooke, partner at Singaporean law firm Reed Smith.

Poland, one of the largest cryptocurrency mining companies in the world, halted Bitcoin and Ethereum withdrawals on its wallet service due to “liquidity issues,” reported The Block. In communiquéthe company told clients that the net worth of the company is positive and that it intends to evaluate BTC and ETH positions this Tuesday (6). has launched a contest to distribute pairs of World Cup tickets for 25 users of the cryptocurrency platform, according to information of E. Investor In the text is open until September 25 on the “World Cup Experience with” campaign page.

Regulation and CBDCs

The CVM published on Monday (5) an alert of unusual activities in the Brazilian market by ByBit Fintech Limited, Cryptocurrency exchange based in Singapore. Second communiqué of the authorities, the company is not authorized to act as a securities broker or to solicit clients in Brazil. ByBit said in a statement that it is taking steps to ensure it understands “the regulator’s requirements on our derivatives trading offerings (…)”.

Henrique Meirelles, who will join the advisory board of Binancesaid in interview told UOL on Monday (5) that the cryptocurrency market “represents the future”, with benefits from an economic point of view and quality of service, but also brings regulatory challenges, which include central bank digital currencies , or CBDC.

Liz Truss, the new British Prime Minister who took office on Monday (5), has in the past posted comments for Bitcoin and other cryptocurrencies, as a January 2018 tweet shows. “We must embrace cryptocurrencies in a way that does not limit their potential. Liberate free trade zones by removing regulations that hinder prosperity. he wrote Truss at that time.

Also in the UK, the Office for the Enforcement of Financial Sanctions (OFSI) The Treasury updated its guidelines to include cryptocurrency exchanges, which must now report violations, information A restriction.

After the use of cryptocurrencies in payments was banned in Russia, the country’s central bank and the Ministry of Finance seem to be reversing their decision.. According to the Russian news agency TASSDeputy Finance Minister Alexei Moiseev said it was necessary to legalize, soon, cross-border contracts made using crypto.

The subscription plans with ads to be served by Netflix should exclude advertising from cryptocurrency companies, the pharmaceutical industry and gambling, according to information from the Australian newspaper The Sydney Morning Herald. published for the Test.

Internet security

Judge Vitor Barbosa Valpuesta, of the 3rd Federal Criminal Court of Rio de Janeiro, has decided that the Ministry of Justice and Public Security is asking the US government to extradite to Venezuela Mirelis Yoseline Dias Zerpa, the wife of Glaidson Acácio dos Santos, the “Pharaoh of Bitcoins”, according to O Globo newspaper.

Entrepreneurs Roberto Cardassi and William Batista, partners in BlueBenx, had the equivalent of R$ 1.4 million in luxury cars., which is now banned from distribution by decision of the Court of Justice of São Paulo. BlueBenx, which claims to be the victim of a scam, has stopped paying customers after promising returns of up to 66% per year on cryptocurrency investments. Document found by Bitcoin Portal shows that the blocked cars include brands such as Porsche, Land Rover, Mercedes Benz and BMW.

Binary stock broker Quotex reached a score of 1,538 complaints in Reclame Aqui and exceed the “opponent’s” IQ Option, the report shows Bitcoin Portal. binary options are financial activities that seek short-term profit by betting on the rise or fall of the prices of financial assets. Complaints from Quotex customers include accounts closed without notice and funds deposited, unpaid deposits, refunds that never happen, and suspected stolen games. Quotex has not yet responded to requests for comment.

In Australia, the Federal Police created a cryptocurrency unit focused on money laundering amid the increase in the use of symbols in criminal activities, according to Australian Financial Review.

Metaverse, Games and NFTs

In the middle of winter, experts specialized in the creation of persuasive avatars, games that pay hidden money and the so-called Web3. required starting salaries around R$10,000, shows information from Forbes.

Asset manager Hashdex announced on Monday (5) rebalancing in three of six index funds (ETFs) of cryptocurrencies of its platform, according to InfoMoneyas well as changes in the structure of ETFs META11, focused on dynamic projects, DEFI11, which invests in decentralized financing, and WEB311, on smart contracts.