, a daily signal communicating the direction and strength of bitcoin's price trends, flipped to neutral from bullish, signaling a weakening of upside momentum. According to LMAX Digital, as long as bitcoin holds above $59,000, the outlook remains highly constructive “with fresh record highs on the horizon." Some altcoins slumped, with dogwifhat sliding 18%, Ethena Labs’ ENA down 14% and Immutable X losing 16% over the past 24 hours.
joining other major crypto companies in starting its own distributed network. X Layer, previously known as X1, makes use of Polygon's Chain Development Kit , a customizable toolkit that lets developers build their own chains by making use of zero-knowledge technology. The firm joins other major cryptocurrency exchanges that have pursued their own layer-2 networks over the past year. In August, Coinbase launched its “Base” blockchain, which is built with Optimism’s OP Stack.
. The underperformance has been caused by strong moves in spot bitcoin and exchange-traded funds , which have sucked"retail liquidity" from mining stocks, and by concerns about the impact of the halving on miner revenues, analysts Gautam Chhugani and Mahika Sapra wrote. The quadrennial halving is when miner rewards are reduced, slowing the rate of growth in bitcoin supply. The next halving is due around April 19-20.The chart shows the U.S.
The USD/CNY pair rose to a five-month high Tuesday as the slide in the Japanese yen weighed on Asian currencies, including the Chinese yuan. The Yuan's depreciation means China is incentivized to keep bitcoin under pressure to discourage Chinese investors from using the cryptocurrency to move capital overseas, according to the founders of the newsletter service LondonCryptoClub.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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