Classic Chart Pattern Signals ETH Could Slip Below $2K

The price of Ethereum’s native token, Ether (ETH), risks sliding below $2,000 in February as a classic bearish setup plays out. Key takeaways: ETH breakdown keeps $1,665 downside target in focus. MVRV bands also point to price sliding toward $1,725 or lower before a potential bottom. ETH/USD daily chart. Source: TradingView ETH risks declining 25%…

CFTC Pulls Proposal Banning Sports Prediction Markets

The US Commodity Futures Trading Commission has withdrawn a Biden administration-era proposal that would have banned sports and political prediction markets, some of the most popular event contracts today. The recently confirmed CFTC chair, Mike Selig, said on Wednesday that the agency has withdrawn a 2024 notice of proposed rulemaking that sought to ban event…

$2.9B Bitcoin ETF Outflow, Bearish Futures Data Project More BTC Downside

Key takeaways: Heavy outflows from Bitcoin exchange-traded funds and massive liquidations show that the market is purging highly leveraged buyers. Bitcoin options metrics reveal that pro traders are hedging for further price drops amid a tech stock sell-off. Bitcoin (BTC) slid below $73,000 on Wednesday after briefly retesting the $79,500 level on Tuesday. This downturn…

Kyle Samani steps away from Multicoin Capital

Kyle Samani, co-founder of crypto investment firm Multicoin Capital, is stepping down from his role as managing director, he announced Wednesday in a post on X. “It’s a bittersweet moment for me because my time at Multicoin has been some of the most meaningful and rewarding of my life,” Samani wrote. “After nearly a decade…

Bitnomial Lists First US-regulated Tezos Futures

The Chicago-based cryptocurrency exchange Bitnomial has launched futures tied to Tezos’s XTZ token, marking the first time the asset has a futures market on a US Commodity Futures Trading Commission-regulated exchange. According to Wednesday’s announcement, the futures contracts are live and allow institutional and retail traders to gain exposure to XTZ (XTZ) price movements using…

$2.9B Bitcoin ETF Outflow, Bearish Futures Data Project More BTC Downside

Key takeaways: Heavy outflows from Bitcoin exchange-traded funds and massive liquidations show that the market is purging highly leveraged buyers. Bitcoin options metrics reveal that pro traders are hedging for further price drops amid a tech stock sell-off. Bitcoin (BTC) slid below $73,000 on Wednesday after briefly retesting the $79,500 level on Tuesday. This downturn…

CME Group Weighs Issuing Proprietary Token for Collateral and Margin

Chicago-based derivatives exchange CME Group is weighing the launch of its own digital token as it explores how tokenized assets could be used as collateral across financial markets, according to comments from CEO Terry Duffy. Speaking on a company earnings call, Duffy said CME is reviewing different forms of margin, including tokenized cash and a…

Base Fixes Transaction Delays After Config Error, Maintains L2 Lead

Coinbase’s Ethereum layer-2 network Base said recent slow or missing transactions were caused by a configuration error that has been fixed. Over the weekend, Base users experienced elevated transaction drops and delays in getting transactions included onchain. Despite the slowdown, blocks continued to be produced and the network remained operational, suggesting that the incident didn’t…

What Dubai’s Ban on Monero and Zcash Signals for Regulated Crypto

Key takeaways Dubai does not criminalize privacy coins yet has ordered them to be removed from regulated financial channels. This means licensed firms in the DIFC can no longer trade, promote or package them into investment products. From a compliance perspective, privacy-by-default features conflict with AML and sanctions frameworks that require transaction visibility, making certain…

$55B in BTC Futures Positions Unwound In 30 Days: Will Bitcoin Recover?

Bitcoin’s (BTC) struggle to hold above $70,000 carried on into Wednesday, raising concerns that the a drop into the $60,000 range could be the next stop. The sell-off was accompanied by futures market liquidations, a $55 billion drop in BTC open interest (OI) over the past 30 days, and rising Bitcoin inflows to exchanges. The…