Crypto News
Shiba Inu Bulls Defend Dual Support With 1T Volume. What Next?
Shiba Inu (SHIB) has gained over 2% in the past 24 hours, with bulls defending key support levels on the back of strong volumes.The meme cryptocurrency fell early Wednesday as BTC and the broader market witnessed de-risking ahead of Fed Chair Jerome Powell's impending speech.Buyers, however, stepped in closer to the $0.00001200 level, ensuring that the psychological support was maintained. The subsequent recovery also lifted prices back above the ascending trendline connecting June 22 and Aug. 2 lows, and the key level of $0.00001231, which is the 61.8% Fibonacci retracement of the June-July rally.Bulls fuel SHIB comebackSHIB shakes off volatility, powers from $0.000012295 to $0.000012574 close on heavy bullish flow. Token holds critical support, smashes through resistance barriers. Next target:...
Are You a Commodity Trading Advisor? Crypto KOLs at Risk
Law and Ledger is a news segment focusing on crypto legal news, brought to you by Kelman Law – A law firm focused on digital asset commerce. The following opinion editorial was written by Alex Forehand and Michael Handelsman for Kelman.Law. The Hidden Risk for Crypto KOLs: Running Afoul of CTA Rules As digital assetSource link
Key Bitcoin Indicators Hint at Bearish Regime Shift as Jackson Hole Nears
Key bitcoin (BTC) indicators are signaling a potential shift to a bearish market regime as traders await Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium.The first one is the 180-day call-put skew derived from options trading on Deribit, the largest crypto options exchange by volume and open interest.As of writing, the 180-day skew was negative 0.42, the lowest since June 2023, according to data source Amberdata. A negative call-put skew suggests that traders are pricing in greater demand for put options (which offer protection against price declines) relative to call options. The data can be interpreted as rising market caution or bearish sentiment over the medium term."BTC longer dated skew flipping into put premium could be a...
China Eyes Yuan-Backed Stablecoins to Challenge Dollar Dominance
China is considering yuan-backed stablecoins as part of a new international strategy, signaling a major policy shift on digital assets. The move could reshape cross-border finance but faces hurdles from capital controls. State Council of China to Review Stablecoin Roadmap Amid Dollar Pressure China is weighing the launch of yuan-backed stablecoins in a bid toSource link
Whale Accumulation Drives Dogecoin’s V-Shaped Recovery From $0.21 Lows
Dogecoin rebounded sharply from $0.21 lows, closing at $0.22 after a late-session surge in volume and aggressive whale accumulation, even as security risks from Qubic’s attack threat linger.News BackgroundDOGE has faced pressure this month after reports tied to Qubic’s potential 51% attack spooked retail traders and drove selling.Despite those risks, on-chain data shows whale cohorts accumulated more than 680 million DOGE in August, offsetting retail outflows.Broader market sentiment has been mixed, with Bitcoin and Ethereum consolidating near highs, leaving memecoins trading with outsized volatility.Price Action SummaryDOGE advanced 5% in the 24 hours ending Aug. 21, 04:00, recovering from an intraday bottom of $0.21 to close at $0.22.The token hit its session low around 13:00 UTC on Aug. 20 before reversing...