This week’s Crypto Biz looks at Binance’s ongoing efforts to curb declining profits, Ripple’s expectation that U.S. banks may soon adopt XRP and the first signs of venture capital returning to crypto.
The decision reverses a prior ruling, allowing Craig Wright to appeal a lawsuit claiming copyright to the Bitcoin white paper and database.
Several Bitcoin price indicators suggest that BTC’s narrow trading range could end soon, resulting in a volatile price move in BTC and altcoins.
BTC price fails to protect the $30,000 mark after a brief resurgence, and Bitcoin traders are not confident of new highs.
After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash.
Bitcoin’s failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins.
BTC price dropped below $30,000 again on July 18, but the recent crab market price action is also backed by compelling investor activity on-chain.
As investors’ euphoria over Bitcoin subsides, regulatory and macroeconomic headwinds resurface to negatively impact the BTC price.
BTC price is back in its range, potentially given opportunities for UNI, ARB, AAVE and MKR to move higher.
Bitcoin on-chain data confirms the significance of $30,000 as a point of interest for BTC accumlation.
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