Coindesk

Bitcoin (BTC) is currently moving within a descending channel a persistent bearish structure that began on May 22, when it hit a high of $112,000. After reaching this level, the price fell about 10% to around $100,000. It then made a lower high at $110,000 on June 10, which was followed by a roughly 10% correction, taking it slightly below $100,000 during market reactions tied to the U.S.-Iran conflict. As of June 30, bitcoin reached around $109,000 before pulling back about 3%, but has since recovered to nearly $108,000. The recent dips appear to be getting shallower.During the latest dip, there was a CME futures gap around $106,000, which was “filled” as bitcoin dropped to around $105,000. A CME gap...

Ivy, a German startup focused on instant payments, said it added access to Circle's (CIRCL) USDC and EURC stablecoins to its always on-transaction rails.The Berlin-based fintech’s platform allows crypto firms, payment service providers (PSPs) and e-commerce merchants to instantly make bank payments, settle funds to local collection accounts across Europe in multiple currencies, and seamlessly convert them into stablecoins, according to a Wednesday press release.The deal makes Ivy one of the first platforms offering instant bank payments to enable seamless settlement in USDC, the second-largest dollar stablecoin, and EURC, the largest euro stablecoin, the release said.Stablecoins, which became a convenient cornerstone of crypto trading partly thanks to the blockchain industry’s tricky relationship with the banking world, are becoming a prominent...

Crypto lender Nexo signed a three-year sponsorship with DP World Tour, Europe's foremost golf competition, for more than $10 million in a deal that see will the company become the tour's official digital asset and wealth partner through 2027.A spokesperson for the company declined to give a specific value to the deal, saying only that it was an eight-figure sum.One of the tour's events, the Scottish Championship will be renamed the Nexo Championship. It will take place at President Trump's course, Trump International Golf Links in Aberdeen, on Aug. 7-10.The deal caps a fruitful few months for the crypto lender, which said in April that it was reentering the U.S. market. It left the country in 2022, saying its negotiations...

Dogecoin (DOGE), the world's largest meme cryptocurrency by market value, has regained some poise, having formed a bullish double bottom pattern during the overnight trade.DOGE has gained over 2% to over 16 cents since early Asian hours, reversing part of Monday's slide from 16.63 cents to 15.67 cents, according to data source CoinDesk.Per CoinDesk's AI research, the cryptocurrency formed a "double bottom pattern" around the 15.7-15.8 cents zone with above-average volume. The bounce is consistent with the recovery in market leader bitcoin (BTC), which has bounced to $107,000 from the overnight low of around $105,200.The double bottom forms after a notable sell-off and is characterized by two bottoms at approximately the same level, separated by a brief recovery. An eventual...

The premium in bitcoin (BTC) futures listed on the global derivatives giant Chicago Mercantile Exchange (CME) has narrowed sharply, a sign of reduced institutional appetite.The annualized premium in rolling three-month futures has dropped to 4.3%, the lowest since October 2023, according to data tracked by 10x Research. That's down significantly from highs above 10% seen early this year.The decline in the so-called basis, despite BTC's price holding steady above $100,000, indicates fading optimism or uncertainty about future price prospects.The drop is consistent with the slide in the funding rates in perpetual futures listed on major offshore exchanges. According to 10x, funding rates recently flipped negative, suggesting a discount in perpetual futures relative to the spot price, which is also a...