Bitcoin News Official TheBitTimes.com

ETH price finally polevaulted the $2,000 resistance, but will retail demand and network use support the current bullish momentum? Ether (ETH) experienced a surprising 8% rally on Nov. 9, breaking the $2,000 barrier and achieving its highest price level in six months. This surge, triggered by news of BlackRock registering the iShares Ethereum Trust in Delaware, resulted in $48 million worth of liquidations in ETH short futures. The initial announcement was made by @SummersThings on a social network, later confirmed by Bloomberg ETF analysts. The iShares Ethereum Trust has just been registered in Delaware. For context, BlackRock's iShares Bitcoin Trust was registered in a similar manner 7 days before they filed the ETF application with the SEC. Details below. [announcement: I’m moving to @SynopticCom soon] pic.twitter.com/IYafIaxMzA — Summers (@SummersThings) November 9, 2023 The news fueled optimistic expectations regarding a potential Ether spot ETF filing by BlackRock, a $9 t...

The plaintiff, Mr. Ming, will have no judicial relief to recoup his 80,000 Tether loan after its borrower defaulted. A second Chinese court has ruled that crypto lending is an activity outside the protection of the country’s legal system. According to an Oct. 10 press release by the Nanchang People’s Court, in April 2021, an individual known as Mr. Ming lent a total of 80,000 Tether (USDT) to an individual known as Mr. Gang for stablecoin trading. The loan was to be repaid within six months. However, Mr. Gang defaulted on the loan, leading Mr. Ming to sue his counterparty in court .  In its landmark decision this week, the Nanchang People’s Court stated Mr. Ming was required to prove that Tether is a legally issued fiat currency to bring a necessary cause of action for judicial relief, citing a series of legislation forming China’s crypto ban. Since Mr. Ming could not do so, the court ruled that the lawsuit did not fall within the appropriate scope of civil litigation. Mr. Ming sub...

Shanghai has unveiled a comprehensive action plan designed to accelerate blockchain’s technical development within the city by 2025. This initiative is part of Shanghai’s broader push to advance web3 technologies and aligns with China’s ongoing support for domestic blockchain solutions, despite the crypto ban implemented last year. According to a Sep. 27 statement from the Shanghai municipal government, the plan focuses on achieving significant progress in several facets of blockchain technology. These areas encompass system security, cryptographic algorithms, blockchain-specific processors, smart contracts, cross-chain functionalities, storage solutions, privacy computing, and regulatory frameworks. The city aims to leverage these technological advancements to bolster various key sectors, including government affairs, cross-border trade, supply chain management, finance, the metaverse, and data element circulation. You might also like: US regulatory stan...

Bitcoin whales are guiding BTC price around $25,000 and caution is needed, analysis warns. Bitcoin (BTC) spent another day tackling $25,000 on Feb. 20 as analysts continued to warn over market manipulation. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin buoyed by "Notorious B.I.D." Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making up losses from around the weekly close to approach the $25,000 mark again at the time of writing. Bulls remained unable to spark a resistance-support flip, however, and whale activity on exchanges kept suspicions high. In its latest update, monitoring resource Material Indicators revealed that large-volume traders were artificially “thinning” resistance overhead, making it more likely that BTC/USD would move higher. Co-founder Keith Alan referenced a wall of bid liquidity buoying spot price , something he called the “Notorious B.I.D.” “Multiple rejections from $25k correlates perfectly with BTC macro TA ...

BTC price action is all but guaranteed to benefit from extra central bank liquidity, but the journey higher is fraught with difficulty, says QCP Capital. Bitcoin (BTC) hodlers need to watch the central banks of China and Japan as well as the United States as BTC/USD battles “huge” resistance. That was the opinion of trading firm QCP Capital, which in its latest crypto market research piece, “The Crypto Circular,” warned that Bitcoin faces risks far beyond the Federal Reserve. Bitcoin "most direct global liquidity proxy" Having survived the latest flood of macroeconomic data from the U.S., Bitcoin is nonetheless flagging right below $25,000 as bulls run out of momentum. For QCP Capital, there is now reason to believe that risk factors for price performance will come not just from the Fed but China and Japan. Market participants must now contend with such issues as China’s Consumer Price Index (CPI) as well as the U.S. equivalent, along with Japanese central bank policy change...

ETH derivatives data shows bullish traders becoming more comfortable with the $1,700 price level, creating an opportunity for further rallies. The price of Ether (ETH) rallied 18% between Feb. 13 and Feb. 16 but has since been range trading near the $1,700 level . Despite the recent price improvement, Ether Derivatives metrics remain neutral-to-bullish ponder the investors the tighter regulatory environment and the potential impact of Ethereum’s  Shanghai upgrade. Investors' biggest concern right now is regulation, especially after the United Kingdom’s Financial Stability Board (FSB) recently stated that most stablecoins fail to meet international standards. The entity was created by the G20 and is affiliated with the Bank of International Settlements (BIS). FSB chair Klaas Knot stated that the appropriate regulation of crypto-assets should be "based on the principle of same activity, same risk, same regulation." In more positive news, there has been some improvement i...