Coindesk

Payments-focused cryptocurrency XRP is down but not out, whereas the outlook for dogecoin (DOGE) appears grim, based on an analysis of Fibonacci retracement levels.XRP reached a peak of $3.40 in mid-January and has since entered a downtrend, with the price dropping 25% this month to $2.28, according to data from TradingView and CoinDesk.While the sell-off has been steep, it corresponds to only a 38.2% Fibonacci retracement of the rally that started at Nov. 4's low of 49.5 cents through the Jan. 16 high of $3.40. A retracement is a drop from the principal trend.That's positive news for XRP bulls, as that level, along with the 50% and 61.8% ratios, indicates potential areas for the price to resume its previous trend,...

Cathie Wood's investment management company ARK Invest snapped up $8.7 million of Coinbase (COIN) shares on Tuesday as the rout in the cryptocurrency saw crypto equities slide.ARK added 41,032 COIN shares to its Next Generation Internet ETF (ARKW), as the crypto exchange's stock fell nearly 6.5% on the day to $212.49.Meanwhile, ARK sold 98,060 shares of its own spot bitcoin ETF (ARKB), worth around $8.6 million.The rout in the cryptocurrency market on Tuesday, saw bitcoin (BTC) fall to a three-month low below $87,000, brought about record outflows from spot bitcoin ETFs in the U.S. The funds registered net outflows of nearly $940 million, the largest single-day sale since they began trading in January 2024, according to data tracked by SoSoValue.The...

The GitHub code you use to build a trendy application or patch existing bugs might just be used to steal your bitcoin (BTC) or other crypto holdings, according to a Kaspersky report.GitHub is popular tool among developers of all types, but even more so among crypto-focused projects, where a simple application may generate millions of dollars in revenue.The report warned users of a “GitVenom” campaign that’s been active for at least two years but is steadily on the rise, involving planting malicious code in fake projects on the popular code repository platform.The attack starts with seemingly legitimate GitHub projects — like making Telegram bots for managing bitcoin wallets or tools for computer games.Each comes with a polished README file, often...

Tuesday was a rough day for the crypto market, as bitcoin (BTC) fell to three-month lows below $87,000, dragging the broader market down. More importantly, investors withdrew funds from U.S.-listed spot bitcoin exchange-traded funds (ETF) at an unprecedented rate.The 11 spot ETFs registered a cumulative net outflow of $937.78 million, the most significant single-day redemption since the funds began trading in January 2024, according to data tracked by SoSoValue.Fidelity's FBTC saw the most outflow, totaling $344.65 million, followed by $164.37 million in redemptions from BlackRock's IBIT. The remaining funds registered outflows of less than $100 million each.The weakening appetite for these ETFs could be attributed to the decline in the premium in the CME-listed bitcoin futures, which has dented the...

Bitcoin (BTC) neared $89,000 in Asian morning hours after a 24-hour low of $86,200, slightly improving market sentiment with major tokens showing signs of a recovery.XRP and BNB Chain’s BNB led a gradual majors rebound Wednesday as traders continue to reel from Tuesday’s carnage — one that saw overall capitalization drop as much as 10% and at least $1.2 billion in losses on bullish bets.XRP rose 3%, while BNB and Solana’s SOL added 5%. Dogecoin (DOGE) and Cardano’s ADA showed a slight 1.2% gain, while Tron’s TRX was down 5% in the past 24 hours. The broad-based CoinDesk 20 (CD20) was down 2%.The move higher was in line with a CoinDesk analysis on Tuesday, as a five-month low in a...