Helium (HNT), Avalanche (AVAX) and Pickle rally on partnership announcements

Bitcoin (BTC) price continues to defy gravity and its strong bullish breakouts frequently result in short sellers needing to cover their positions in a hurry. A repeat of this happened on Feb. 9 when Bitcoin soared on the news of Tesla’s $1.5 billion Bitcoin purchase. Bybt data shows that about $1.34 billion worth of Bitcoin futures positions were liquidated due to the sharp rally. Crypto market data daily view. Source: Coin360 Another notable event was the launch of CME Ether (ETH) futures on Feb. 8. Several traders feared that the…

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Altcoins move higher as Bitcoin bull flag points toward $50K BTC price

Growing institutional interest in Bitcoin (BTC) helped elevate the top cryptocurrency to a new record high on Feb. 9 and led to a total market cap value higher than the market cap of the Russian ruble.  Data from Cointelegraph Markets and TradingView shows Bitcoin established a new all-time high of $48,220 in the early hours on Tuesday and has since pulled back to $47,092, marking a 9.24% increase over the past 24-hours. BTC/USDT 4-hour chart. Source: TradingView According to Decentrader founder, filbfilb, today’s market action showed strong activity from the…

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FTX CEO claims competitor responsible for racist messages delivered to Blockfolio users

On February 9, Blockfolio’s Signal feed was briefly compromised, resulting in some users receiving racist messages within the company’s app. Users said that the culprits went so far as to threaten loss of funds if deposits were not removed from the crypto portfolio platform. While the derogatory messages were reportedly scrubbed by Blockfolio’s security team within about 30 minutes, the incident left many wondering how such an attack could have occurred. Tweeting on Tuesday, SBF offered updates about the incident, alleging that a competing exchange was to blame. 1) We’re really sorry…

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TORN soars 200% as Tornado.Cash’s governance token becomes tradable

The decentralized finance (DeFi) “stimulus checks” keep coming as Tornado.Cash joins Uniswap, Badger DAO, StakeDAO, and others in “airdropping” a now-tradable TORN governance token to early protocol participants. Tornado Cash, which is an Ethereum “tumbling” service that obscures transactional history in order to preserve user privacy (as well as allow scammers and hackers a method to launder their funds), first announced the launch of a governance token in December. A snapshot for the airdrop was taken for Ethereum block 11400000, which was mined on December 6th, and addresses which had…

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ECB leader floats 3K threshold for digital euro holdings

In an interview today, Fabio Panetta, executive member of the European Central Bank said the ECB may only allow digital euro holdings “up to a certain threshold” but added that the rollout of the central bank digital currency was unlikely to cause banks to lose deposits. Specifically, Panetta said that this threshold “could be around €3,000” — worth roughly $3,600 — which he said would still meet most people’s cash needs. He added that these figures were ”still under discussion” and that the ECB had also not yet decided on a…

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Former British MP says central banks should ban Bitcoin

Nick Boles, a former Member of Parliament for Grantham and Stamford from 2010 to 2019, took to Twitter Tuesday to criticize Bitcoin over its negative environmental impact. He retweeted a post from BBC correspondent Rory Cellan-Jones showing that Bitcoin has overtaken Argentina in annual energy consumption. The data was compiled by the University of Cambridge and presented in the Cambridge Bitcoin Electricity Consumption Index.  Boles commented: “Central banks should ban the trading of it, and force anyone who holds Bitcoin and wants to use it in any transaction, to exchange…

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Current Bitcoin Consolidation Zone Could Act As The Next Bear Market Bottom

With only a 30% pullback on the books, it is hard to consider the most recent consolidation phase in Bitcoin much of a correction. But whatever base is currently being built within this range, could act as the next bear market botton after the leading cryptocurrency by market cap tops out and the cycle restarts over again. Here’s why the zone is a likely target for the next major downtrend when it eventually arrives. When Bitcoin Eventually Tops, Where Will It Drop To? Bitcoin’s uptrend has only just started, and…

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Record $584M Litecoin futures open interest signals institutional inflow

Litecoin (LTC) might be 60% below its December 2017 all-time high at $420, but that hasn’t stopped its futures contracts open interest from reaching a record $584 million. This makes LTC the seventh-largest cryptocurrency by market capitalization and it ranks third in derivatives, behind Bitcoin (BTC) and Ether (ETH). Litecoin futures aggregate open interest. Source: Bybt.com As shown above, LTC futures aggregate open interest increased by 285% over the past three months. One should keep in mind that such an event is not necessarily positive since futures contracts require both…

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Press and internet freedom advocates join crypto users in support of Wikileaks’ Assange

A coalition of 24 press freedom, civil rights and internet defense groups have signed a letter asking Biden to leave Wikileaks founder Julian Assange alone. A Monday letter signed by the ACLU, Electronic Frontier Foundation, Freedom of the Press Foundation, among others, asked the Biden administration to forego the extradition proceedings currently happening in the United Kingdom.  The authors implore Acting Attorney General Monty Wilkinson to abandon the Trump-era pursuit of Assange. “The Trump administration positioned itself as an antagonist to the institution of a free and unfettered press in…

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Bitcoin flippens Russian ruble after Tesla purchase

After hitting a new all-time high of more than $48,000 earlier today, the market capitalization of Bitcoin has surpassed the total market cap of the Russian ruble.  According to data from AssetDash, Bitcoin’s market cap is $871 billion at the time of publication. This exceeds the money supply of the Russian ruble, which as of January was estimated to be 58.6 trillion RUB, currently valued at roughly $791.1 billion. The crypto asset has also overtaken Tesla Motors in market capitalization after a brief retreat yesterday — the car manufacturer’s market cap…

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