Bitcoin Hits New $112K High As Bears See $200M Liquidation

Bitcoin soared to another record high, driven by growing global investor demand for risk assets and a $200 million liquidation of BTC shorts near a critical overhead resistance level. Bitcoin’s (BTC) price surpassed the $112,000 all-time high for the first time on Wednesday, after rising 5.95% during the past week. BTC/USD, 1-month chart. Source: Velo…

LetsBonk’s Soaring Userbase Could Start A Rally In Bonk

Key point: Solana memecoin launchpad LetsBonk’s 24-hour revenue surged to $1.04 million on Monday, nearly double the revenue of Pump.fun at $533,412, according to data aggregated by decentralized finance platform DefiLlama.  Bonk’s (BONK) price has rallied sharply since the launch of LetsBonk on April 25. Could the rally continue? Let’s analyze the charts to find…

Bitcoin Hits New $112K High As Bears See $200M Liquidation

Bitcoin soared to another record high, driven by growing global investor demand for risk assets and a $200 million liquidation of BTC shorts near a critical overhead resistance level. Bitcoin’s (BTC) price surpassed the $112,000 all-time high for the first time on Wednesday, after rising 5.95% during the past week. BTC/USD, 1-month chart. Source: Velo…

GMX V1 attacked by hackers for $40 million

The GMX protocol halted trading on GMX V1 after a liquidity pool suffered an exploit on Wednesday, leading to $40 million in funds being stolen and sent to an unknown wallet. GMX V1 is the first version of the GMX perpetual exchange deployed on the Arbitrum network. The attacked pool provides the liquidity provider of…

Is Ethereum pushing too hard with 6-second blocks? Here’s the truth

What is Ethereum’s 6-second blocks EIP-7782 proposal? Ethereum core developer Barnabé Mannot has proposed EIP-7782, which seeks to halve Ethereum block times from 12 to six seconds.  If accepted, it would become one of the most significant upgrades since The Merge, which introduced the new proof-of-stake (PoS) consensus layer. The EIP-7782 proposal put forward the…

Circle Has USDC Revenue Sharing Deal With Second-Largest Crypto Exchange ByBit: Sources

Circle, the U.S.-listed stablecoin issuer, has quietly arranged a revenue sharing agreement with Bybit, the world’s second-largest cryptocurrency exchange, according to two people with knowledge of the arrangement. Circle, which is sandwiched in competition between larger rival Tether and a growing crop of new stablecoins, shares 50% of the yield from reserves backing its U.S….

XRP Rallies 12% Following Ripple’s Custody Deal With BNY Mellon

Key takeaways: XRP price jumped around 12% after Ripple named BNY Mellon as custodian for its RLUSD stablecoin. Traders are betting on increased XRP utility as RLUSD adoption potentially shifts from Ethereum to XRPL. Bullish chart patterns suggest XRP could rally toward $2.87 or even $3.72, barring a breakdown below $2. XRP (XRP) has surged…

CLARITY Bill Could Allow Tesla And Meta To Evade SEC Rules

Massachusetts Senator Elizabeth Warren is sounding the alarm about how publicly traded companies could essentially bypass US securities laws if a bill to regulate cryptocurrency markets becomes law. In a Wednesday hearing of the Senate Banking Committee to address crypto market structure legislation, ranking member Warren said she would be in favor of digital asset…

Bitcoin’s Ability to Mount Another Parabolic Rally May be Fading: Analyst

Key takeaways: Bitcoin’s long-term uptrend remains strong, but an analyst warns that the four-year cycle may limit another leg up. Analysts believe Bitcoin could move higher past the current all-time highs, with targets between $130,000-$168,000. Bitcoin (BTC) might not have time to mount another parabolic rally this cycle, based on its four-year cycle model, a…

Bitcoin Tries and Fails to Puncture $110,000 Liquidity

Key points: Bitcoin tries and fails to crack $110,000 as overhead liquidity thickens. Traders say that more signs of strength are needed to reignite bull market momentum. Macro cues include next week’s CPI print as a potential volatility date. Bitcoin (BTC) attempted a run on $110,000 around the July 9 Wall Street open as sellers…