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Bitcoin Rebounds Above $104,300 as Tariff Chaos Triggers Nearly $1B in Liquidations
Global economic tensions and trade policy uncertainties continue to influence cryptocurrency markets as Bitcoin recovers from a recent correction. Despite the pullback, institutional interest remains strong with firms like Strategy (formerly MicroStrategy) and GameStop adding BTC to their corporate treasuries. Technical Analysis HighlightsThe 24-hour period shows a clear bottoming pattern with strong volume support emerging around the $103,200-$103,400 zone, where buyers consistently stepped in, according to CoinDesk Research's technical analysis data model.The subsequent recovery phase gained momentum after breaking above the $104,000 resistance level, with increasing volume confirming buyer conviction.This technical structure suggests the correction has likely completed, with the price now establishing a new support base for potential continuation of the broader uptrend.In the last hour, Bitcoin demonstrated a...
Bitcoin Cash Rebounds 6.4% as Bulls Defend Key Support Zone
The cryptocurrency market is navigating choppy waters amid escalating geopolitical tensions, with Bitcoin Cash (BCH) showing resilience despite broader market pressure. BCH recently demonstrated strong technical performance, forming a V-shaped recovery after testing critical support at $391.656, with substantial buying volume establishing a high-volume support level. This comes as the global cryptocurrency market faces headwinds from the ongoing US-China trade disputes, which continue to introduce uncertainty across financial markets worldwide. Meanwhile, traditional financial indicators like rising US Treasury yields signal systemic stress that historically creates mixed environments for risk assets like cryptocurrencies.Technical Analysis HighlightsBCH tested critical support at $391.656, triggering substantial buying volume particularly during the 01:00-04:00 timeframe.A powerful breakout occurred during the 13:00 hour, with BCH surging to $416.958...
Brazilian Fintech Firm Méliuz Plans $78M Equity Offering to Buy Bitcoin, Shares Plunge
Brazilian fintech Méliuz (CASH3), which serves over 30 million users in the country, is launching a public share offering to raise up to R$450 million ($78 million), with plans to allocate all proceeds to purchasing bitcoin BTC.The offering, announced Friday in a securities filing, consists of an initial issuance of 17 million common shares, with the possibility of expanding to 51 million depending on demand. Shares will be sold exclusively to professional investors in Brazil and abroad under automatic registration rules.Each share purchased will come with a package of free subscription warrants divided into 10 series, allowing investors to buy additional stock at set prices in the future.At current share prices, Méliuz expects to raise around $26 million, but that...
NYC Comptroller Slams Mayor Eric Adams’ Bitcoin Bond Plan as ‘Fiscally Irresponsible’
New York City’s Comptroller has dismissed a plan by Mayor Eric Adams to back municipal bonds with bitcoin BTC, calling it “legally dubious and fiscally irresponsible.”Comptroller Brad Lander, who co-manages the city’s debt issuance, rejected the proposal just days after Adams pitched the so-called “BitBond” to a crowd at a bitcoin conference in Las Vegas.“Cryptocurrencies are not sufficiently stable to finance our city’s infrastructure, affordable housing, or schools,” Lander said in a press release. He added that such a move could shake investor confidence and run afoul of federal tax law.The idea is part of Adams’ broader push to position New York as a global crypto hub. Since taking office, he has converted paychecks into crypto and launched a digital...
State of Crypto: Someone Tried to Scam Me (Probably)
Coinbase won't call customers to warn them that their accounts may have been compromised. It's a common scam vector. Still, someone tried it on me.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.Account compromiseThe narrativeLast weekend, an unknown California number called me. A helpful gentleman informed me that my Coinbase account had been compromised during its recent data breach and he was there to assist me in not losing my assets.Oh no, the horror!Why it mattersAll right, so obviously this is a scam. Right after hanging up with this supposed help desk agent, I texted a Coinbase spokesperson to verify that at no point would...