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Today’s downside breach below the current low point of Bollinger Band bears watching for even weaker prices in the near future.
Thursday's rally to a new 13-month high of $31,800 has now more than been fully nullified.
The latest price moves in crypto markets in context for July 18, 2023.
Reddit changed its Terms of Service recently where it now explicitly allows for trading Reddit's tokenized Community Points, one observer said while explaining the price rally.
VIPLeading projects on Optimism
The sale comes a day after ARK sold $50.5 million of the crypto exchange’s stock.
PLUS: A day in the life of Binance’s head of law enforcement training – petty crooks, fake subpoenas, and dodging politically sensitive requests.
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Ripple's XRP, Solana's SOL and Lido Finance's LDO lost more than 4% in the last 24 hours.
Wall Street banks including J.P. Morgan also saw the ruling as a positive outcome for the crypto exchange.
- 22:43Market leverage surges, Ethereum shorts reach historic highThe open contracts of Ethereum futures have exceeded 20 billion US dollars, setting a new record and highlighting the intensification of speculative activities. The rise in short positions indicates that more and more traders are betting on the price drop of Ethereum. At the same time, it is estimated that the leverage ratio (ELR) has reached its peak, reflecting a higher dependence on borrowed funds - this method amplifies the possibility of rapid liquidation.
- 22:43Tether has minted an additional 2 billion USDT on EthereumAccording to Whale Alert monitoring, Tether Treasury minted an additional 2 billion USDT on Ethereum around 6:08 Singapore time. Tether CEO Paolo Ardoino commented that this is an authorized but unissued transaction, meaning it will be used as inventory for the next issuance request and on-chain exchange.
- 22:42Musk: Insane government spending is driving the United States into bankruptcyMusk tweeted on X, "Crazy government spending is driving the United States into bankruptcy."
