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Crypto analyst Justin Bennett has warned Bitcoin investors about what could cause the flagship crypto to decline further. The analyst also stated that things weren’t looking good for Bitcoin at the moment and suggested that a bullish reversal might not happen anytime soon.  How Bitcoin Could Get “Hammered” Bennett mentioned in an X (formerly Twitter) post that the recent “relative weakness” suggests that the crypto market, including Bitcoin, will get “hammered” if the stock market rolls over. The analyst made this statement based on the correlation between the stock and the crypto market. He had also noted that things weren’t…

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BaseStake, a transparent platform for staking ETH on the Base network, is now live. This innovative platform offers six staking pools with daily interest rates of 8% and higher. Overall, the team promises to give users an excellent opportunity to earn passive income. The launch of BaseStake coincides with Base’s “Onchain Summer,” a celebration of the network’s rapid growth and increasing activity. BaseStake’s Staking System BaseStake offers six unique staking plans divided into two categories: Plan A and Plan B. Plan A includes three options: Plan 1: 8% daily profit, 112% total return, withdraw anytime, 14 days duration. Plan 2:…

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In an interesting turn of events, the Bitcoin open interest has remained high even at a time when the price has been dropping. This suggests that despite the price crash, investors are still looking favorably at the pioneer cryptocurrency. Bitcoin Open Interest Stays Close To All-Time High The Bitcoin price has seen a decline over the last week, pushing it from over $70,000 to below $66,000 in the process. Usually, a decline such as this would be greatly reflected in the open interest of the cryptocurrency. However, that has not been the case, as Coinglass data shows. Rather than see…

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Thanks to the summer heatwaves in North America, Bitcoin miners may begin to record a considerable increase in their revenue. This extreme weather condition is also expected to significantly impact Bitcoin’s hash rate.  Bitcoin Miners To See Increase In Profit Thanks To Lower Competition Bitcoin miners are expected to see an increase in profit because many may have to shut down or cool off their operations due to the extreme heat that usually occurs in North America during the summer. The United States (US) is known to be home to most Bitcoin miners, with data from the University of Cambridge…

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Brazil-based cryptocurrency asset management platform, Hashdex has applied for the approval of a dual ETF, consisting of both Bitcoin and TH, the world’s largest cryptocurrencies. This development comes as the Spot Ethereum ETF race heats up in anticipation of an official debut before the end of the year.  Hashdex Files Combined Bitcoin And Ethereum ETFs In a June 18 X (formerly Twitter) post, Bloomberg analyst James Seyffart unveiled Hashdex’s recent 19b-4 filing for a combined Bitcoin and Ethereum ETF. Earlier on May 24, the crypto asset management company pulled back its Spot Ethereum ETF application, posting its notice of withdrawal…

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Nummus Casino, the popular web and Telegram-based casino and sportsbook, is excited to announce the launch of its highly anticipated $Nummus Token presale on June 17th, 2024. Set to revolutionize the $80 billion global online gambling industry, this new digital currency will seamlessly integrate into the Nummus ecosystem, offering an unparalleled experience for all users. The casino, which already features sports betting, casino games, and crypto favorites like Spaceman and Aviator, will offer 50 million $NUMMUS Tokens through Nummus Casino. A Presale with Unmatched Rewards and Benefits During the presale, buyers will enjoy a range of exclusive bonuses and benefits…

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Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations in the past day after the crash the altcoins have seen. Altcoin Longs Witness Squeeze, Ethereum Leads In Liquidations The past day has been a volatile time for the cryptocurrency market, with the majority of the altcoins suffering from drops of more than 5%. As is generally the case, this sector-wide volatility has resulted in chaos over at the derivatives side. According to data from CoinGlass, the derivatives market has observed contracts worth almost $429 million finding liquidation over the last 24 hours. The data for the…

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Binance Chief Executive Officer (CEO), Richard Teng has made a bullish prediction for Bitcoin, the world’s largest cryptocurrency. Despite BTC’s recent downward trend, Teng foresees the cryptocurrency hitting $80,000 in this market cycle, citing the influence of Spot Bitcoin ETFs and Spot Ethereum ETFs as potential drivers. Bitcoin Predicted To Hit $80,000 In 2024 In a recent interview on the YouTube channel, Bankless, Teng shared his 2024 prediction for Bitcoin, foreseeing major gains ahead for the pioneer cryptocurrency.  The Binance CEO disclosed that in 2023, he had initially predicted BTC would hit an all-time high of $80,000. However, with the…

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Despite recent stumbles that saw Bitcoin fall below $70,000, popular cryptocurrency channel Altcoin Daily remains firmly in the “bull camp,” predicting a continuation of the current market cycle that could mint a new wave of crypto millionaires. Crypto Whales Accumulating, Institutions Diving In Altcoin Daily’s hosts point to a confluence of factors that suggest a bullish future for Bitcoin and altcoins. Firstly, they highlight the increasing presence of “whales,” large investors who are accumulating billions of dollars worth of Bitcoin. This “whale activity” contradicts the narrative of a bearish market, according to the channel. Additionally, they cite predictions from financial…

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The ever-growing popularity of crypto has come under fire once again, this time for its environmental cost. A new report by Greenpeace casts a critical eye on the energy consumption of Bitcoin mining, pointing a finger directly at Wall Street financiers who back the industry. Wall Street’s Dirty Little Secret? The report argues that traditional financial institutions are deeply intertwined with the environmental impact of Bitcoin mining. While Bitcoin itself operates on a decentralized network, the massive mining facilities required to secure the currency are funded and supported by Wall Street giants. Despite the myth of Bitcoin being independent from…

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