Bitcoin found its footing after bulls took steps to reclaim the $60,000 level, but data casts doubt on whether it will flip back to support. Bitcoin (BTC) traded as high as $60,200 on Wednesday, up about 2.7% over the past 24 hours after falling to a 21-month low of $57,737 earlier in the session. Ether (ETH) and Solana (SOL) also gained, up 3% and 4.85%, respectively. The bounce took place amid deep investor caution, with sentiment trackers gauging the balance of fear and greed in crypto markets currently reading around 11 out of 100, in “Extreme Fear” territory. Despite the rebound from the yearly low, Bitcoin remains down roughly a third since the start of the year. Read more
Colorado’s Democratic and Republican primaries finished on Tuesday, with at least one candidate supported by $1 million from a crypto-aligned PAC going to the November general election. Manny Rutinel, a Democratic candidate running to represent Colorado’s 8th congressional district, has won his party’s primary and will head to the November election after being supported by a crypto-aligned political action committee (PAC). Early on Wednesday, Rutinel reported that he would be the Democratic nominee for Colorado’s 8th district, having won with 61.7% of the vote against Shannon Bird’s 33.6%. Before the primary, the You Can Push Back Super PAC, backed by $3.5 million from Ripple Labs co-founder Chris Larsen, reportedly spent $1 million on media to support Rutinel’s run. The Colorado Democrat has a “strongly supports crypto” rating from the Coinbase-affiliated Stand With Crypto organization, based on his answers to questions about stablecoins, market structure and regulatory clarity. Coinbase is also a major con...
Bitcoin bear-market bottom signs appear as the TD9 indicator mirrors the final stages of the 2022 BTC price downtrend. Bitcoin (BTC) has delivered a key trend change setup in the latest sign that the macro downtrend could soon reverse. Key points: Read more