Coindesk

Bitcoin's (BTC) post-Fed price drop to $96,000 has activated a crucial contrary indicator that has historically marked the end of price pullbacks.On Wednesday, the Fed cut the benchmark borrowing cost as expected but penciled in only two rate cuts for 2025, down from four projected in September. The central bank stressed that it's not interested in participating in a potential government plan to build a strategic BTC reserve.Since then, BTC has dropped over 8%, hitting lows near $96,000 at one point. As of writing, the cryptocurrency changed hands near $97,500, down nearly 10% from the record high of $108,266 reached early this week, CoinDesk data show.The losses have caused the 50-hour simple moving average (SMA) to dip below the 200-hour...

Mo Shaikh, co-founder of Aptos Labs, announced that he's stepping down as CEO of the company.Aptos is a layer-1 blockchain that claims to offer enhanced scalability, security and transaction speeds. The platform leverages a unique blockchain programming language called Move, which was originally created for Facebook’s shuttered "Diem" project.In a lengthy post on X, Shaikh, who co-founded Aptos with Avery Ching three years ago, expressed pride in the progress made by the company, which included raising a mammoth $400 million in venture capital funding and building "one of the most robust ecosystems, trusted by over a thousand builders and innovators around the globe."Ching, Shaikh said, will assume the role of CEO and lead the company into its next phase of...

Over the last few months, AI agents running on crypto rails have captivated the crypto community. Natural memeticists, these agents are becoming social media stars calibrated to thrill, and sometimes enrich, an “audience” of speculators betting on their meme tokens.The original and most famous of them, Truth Terminal, was created by putting instances of the large foundation model, Claude Opus, in conversation with itself and prioritizing content drawn from the back alleys of the internet including Reddit and 4Chan. What emerged was a bawdy prophet with a magnetic personality and a fanatical bent for spreading the Gospel of Goetse, a neo-religion inspired by a grotesque 90s internet meme.The rest, as they say, is crypto lore. Shortly after it debuted on...

Crypto asset prices slid on Thursday, building on Wednesday's market-wide selloff spurred by Federal Reserve Chair Jerome Powell disappointing investors with his comments on U.S. interest rate cut expectations for next year.Bitcoin's (BTC) attempt to bounce back above $100,000 quickly faded earlier during the day and slid to the low-$97,000s during the U.S. day. Recently, it modestly recovered to around $98,000, but was still down 4.8% over the past 24 hours.Altcoins fared much worse, with the broad-market CoinDesk 20 Index diving more than 10% during the same period. Ethereum's ether (ETH) dipped 10.8% to below $3,500, while Cardano's ADA, Chainlink's LINK, Aptos' APT, Avalanche's AVAX and Dogecoin's DOGE all suffered 15%-20% losses. Notably, SOL sank to its weakest price since...

As nations explore the implications of digital currencies, Bitcoin is becoming part of national strategies. El Salvador made headlines as the first country to adopt Bitcoin as legal tender, while the United States is considering a national Bitcoin reserve. Even China, despite its cautious stance on cryptocurrency, has embraced blockchain technology to support its digital yuan. Amid these changes, Bhutan stands out — not by following global trends, but by charting its own path.Nestled in the Himalayas between China and India, Bhutan has long defied conventional economic models. Instead of prioritizing Gross Domestic Product (GDP), the country measures success using Gross National Happiness (GNH), focusing on the well-being of its citizens. Under the leadership of King Jigme Khesar Namgyel Wangchuck,...