Tom Lee Says Oil Prices Are Ethereum’s Biggest Headwind

Rising oil prices since the US-Israeli war have been a consistent weight on the price of Ether for the last three months, according to Fundstrat co-founder Tom Lee.  “If one is wondering why Ethereum has been under selling pressure … to me, rising oil prices is the biggest headwind,” Lee said on X on Monday….

Ex-OpenAI's Leopold Aschenbrenner bets big on crypto miners for his $13.6B AI play

Aschenbrenner is shorting Nvidia and AMD in favor of bitcoin miners that own the electricity and data centers needed to fuel the next phase of the AI boom. Source link

South Korea FSC Reportedly Reviews Hana Bank Dunamu Stake

South Korea’s financial regulator is reportedly reviewing Hana Bank’s planned $668 million purchase of a 6.55% stake in Dunamu, the operator of the largest domestic cryptocurrency exchange, Upbit. Local outlet iNews24 cited an unnamed Financial Services Commission official to report that regulators are examining whether Hana Bank’s share purchase from Kakao Investment, rather than directly…

XRP Price May Grow 15x Amid ‘Quiet Accumulation:’ Analyst

XRP (XRP) may go on a 10x–15x rally from its “quiet accumulation” zone, according to analyst Crypto Patel, who says the muted price action resembles the calm before its major breakout in late 2024. Key takeaways: XRP’s lack of retail hype may lead to a rally toward $5, $10 and $15 targets. XRP’s current $1.00–$0.70…

Bitcoin Drops to $76K as Fresh US-Iran Tensions Resurface

Bitcoin (BTC) dropped to $76,000 during the early Asian trading hours on Monday as US-Iran tensions resurfaced.  Key takeaways Bitcoin falls to $76,500 as bearish momentum becomes increasingly tied to geopolitical developments. Over $607 million in long positions have been liquidated in the last 24 hours. Bitcoin traders say support at $76,000 should hold to…

Verus Ethereum Bridge Reportedly Exploited for $11.58 Million

Verus Protocol’s Ethereum bridge was reportedly exploited on Monday through a fake cross-chain transfer message that allowed a hacker to fraudulently transfer out at least $11.58 million in cryptocurrency. Onchain security platform Blockaid said in an X post on Monday that its detection system identified an ongoing exploit on the Verus-Ethereum bridge and shared a…

Senate Crypto Bill Might Pass as Late as August: NYDIG

The US Senate’s crypto market structure bill could take until August to pass and risks not advancing at all if lawmakers cannot pass it before the midterms, said Greg Cipolaro, head of research at financial services firm NYDIG. Patrick Witt, a senior White House crypto adviser, said earlier this month that he was targeting July…

Crypto traders betting on a rally lose $563 million in liquidations. Ether and bitcoin suffer the most

Ether and bitcoin led liquidations, as their prices dropped on macroeconomic concerns. Source link

Grayscale, VanEck Amend BNB ETF Applications

Asset managers Grayscale and VanEck filed amended S-1 registration statements for their respective spot BNB exchange-traded funds on Friday, bringing the cryptocurrency one step closer to becoming an approved US crypto ETF.  Grayscale filed its second amendment, while VanEck submitted its fifth on Friday. S-1s are one of the main filings that ETF issuers must…

Bitcoin Analysts Debate ‘Sell in May’ Pattern

Crypto analysts are divided over whether markets will see a major Bitcoin sell-off in May, a pattern that has emerged in the last two bear markets during US mid-term election years.  In May 2018, Bitcoin crashed from nearly $10,000 to about $7,000 by the end of the month. It happened again in May 2022, when…