Crypto News

The SEC has the cryptocurrency market in its crosshairs once again. Crypto.com received a Wells Notice from the US regulator then hit back with a lawsuit in order to defend itself. The SEC intends to sue the digital-asset exchange for allegedly operating as an unregistered broker-dealer and securities clearing agency.“The SEC’s unauthorized overreach and unlawful rulemaking regarding crypto must stop,” Crypto.com Chief Executive Officer Kris Marszalek wrote on twitter.The SEC also charged Cumberland DRW with acting as an unregistered dealer for more than $2 billion in crypto assets.Bitcoin broke $60,000 today for the first time since September 18 when it rallied with other assets following the Fed's 50 basis point rate cut. It was unable to press that rally though and slumped into month and before slumping further this week.Zooming out to the monthly chart highlights how stable bitcoin has been. That relative calm won't last and when the $50-72K range finally breaks, it will be a powerful move.Another interesting development today is that Japanese courts have extended the deadline for repayment in Mt. Gox liquidation. While much of the money has already been paid out, "many rehabilitation creditors still have not received their Repayments because they have not completed the necessary procedures for receiving Repayments," the filing said.The deadline has been extended to Oct 31, 2025. This article was written by Adam Button at www.forexlive.com.

JPMorgan analysts see gold and Bitcoin as beneficiaries of uncertainty in regular financial markets, citing rising geopolitical tensions, and the upcoming U.S. election.JPMorgan say gold and BTC will benefit from this "debasement trade".On gold, JPM says the price move has already "gone well beyond the moves implied by dollar and real bond yield shift," suggesting that geopolitical concerns are now a more dominant factor. BTC should benefit too. This article was written by Eamonn Sheridan at www.forexlive.com.

Standard Chartered say that gold is a hedge against geopolitical risk, whereas Bitcoin is is a hedge against TradFi issues such as bank collapses or de-dollarisation/U.S. Treasury issues.Analysts at the bank like buying BTC/USD on a dip under USD60K This article was written by Eamonn Sheridan at www.forexlive.com.

More on the big reveal is here:Bitcoin creator Satoshi Nakamoto has been identified - will be revealed in a TV show!Checking out BTC/USD, not a lot changed: This article was written by Eamonn Sheridan at www.forexlive.com.

A TV documentary maker has said he has found Satoshi Nakamoto's identity, which is the fake name used by the creator of Bitcoin.The name will be revealed in a new HBO documentary, set to air Wednesday October 9 at 9 p.m. US Eastern time Politico with the heads up, adding:Intriguingly, as the date for the airing of the documentary has drawn near, a number of high-value wallets from the “Satoshi era” have become active for the first time since 2009. According to Bitcoin Magazine, around 250 bitcoins — worth approximately $15 million at Thursday's bitcoin rate of $60,754 to the dollar — were drained from wallets in the past two weeks. While the coins are not officially linked to wallets used by Satoshi Nakamoto, they have been dormant since the earliest days of Bitcoin, when the cryptocurrency was worth almost nothing. The wallets’ creators would certainly have been Satoshi’s earliest collaborators. This article was written by Eamonn Sheridan at www.forexlive.com.

Caroline Ellison is Sam Bankman-Fried’s ex-girlfriend.She's copped the jail time for helping Sam steal $8 billion in customer fundsEllison ran the hedge fund tied to the digital currency trading platform FTXShe pleaded guilty to seven counts of fraud and conspiracy.She testified against Bankman-Fried, which appears to have lightened her sentence. SBF has been locked up for 25 years. This article was written by Eamonn Sheridan at www.forexlive.com.

Vice President Kamala Harris spoke in New York City on Sunday, raising funds. She did make a pledge on crypto though. “We will encourage innovative technologies like AI and digital assets, while protecting our consumers and investors.” Bloomberg (gated) carried the report, noting that Harris’ comments mark the first time she has commented on cryptocurrencies as the Democratic presidential nominee.---Bitcoin update: This article was written by Eamonn Sheridan at www.forexlive.com.

Bitcoin has climbed above the September high in a strong turnaround from yesterday's selloff. It's up 5.3% or $3000 in the best gain in a week.Bitcoin has struggled to keep pace with the improving risk appetite in September and is well-below the summer highs as US stocks flirt with records. Bitcoin has had a good correlation with stocks and particularly chip stocks this year but that's weakened recently.Technically, this looks like something of an inverted head-and-shoulders pattern, which is bullish and would target $70,000. It also found a bottom above the August spike low, which is somewhat supportive. This article was written by Adam Button at www.forexlive.com.

Bitcoin was looking ugly on Friday as it broke down to $52,500 but the dip buyers stepped up on the weekend and are continuing to buy today as the risk trade improves.The rally to $56,700 is nearly back to Friday's high of $56,995 and that's going to offer some resistance here.Zooming out, the recent problem for bitcoin is that its gains on 'risk positive' days aren't enough to offset the losses on the 'risk negative' days, leading to persistent pressure.If we can get some late strength and follow-through in tomorrow's trade, that would go some ways towards reversing that. This article was written by Adam Button at www.forexlive.com.

There aren't many charts more technical than bitcoin and with today's 4.5% decline, it's sending all the wrong signals.It's only been below these levels for a few hours over the past six months and the last time it was here it was flushed down to $50,000 in something of a flash crash.At the same time, the series of lower highs from $72K down to 65K over the past six months sends the wrong signal.Moreover, there is a strong correlation between bitcoin and tech stocks, particularly semiconductors. That space is suddenly struggling as the market cools on its enthusiasm for AI. Broadcom reported results yesterday and is down nearly 10% today while Nvidia is down 4.5%. This article was written by Adam Button at www.forexlive.com.

Bitcoin made some headway last week as it broke out of a consolidation patter and looked well on its way to recouping the July-August losses. But the mood changed early this week and it's been steady selling, culminating in a 5% loss today.The drop in bitcoin is something of a red flag for tech stocks ahead of Nvidia earnings. There has been a tight correlation for most of the year between the Nasdaq and BTC, though it's disconnected this week. Some of that might be related to selling around the Mt. Gox bitcoin but I also worry that it's been notably quiet around crypto lately as bitcoin has spent six months in a range.Another worry for crypto is that alt coins have struggled. Ethereum has barely recovered from the early-August rout and is down 3.4% today. This article was written by Adam Button at www.forexlive.com.

The price of bitcoin is trading to a new low and in the process has moved below the $61,000 level.It is also moving further away from the near converged 100 and 200-day moving averages (blue and green lines on the chart above) which come in at $63,478 and $63,712. The current price is trading down to $60,100 just above the natural support at $60,000.Technically, the buyers and their shot on the break of both those daily moving averages last week and into this week. The inability to extend higher - and the failure on a break - has turned the buyers into sellers. In addition to the natural support at $60,000, a break below that level would have traders targeting the 38.2% retracement of the move up from the September 2023 low to the high price reached in March 2024. That retracement level comes in at $55,124, and represents a key longer-term target on further momentum to the downside. This article was written by Greg Michalowski at www.forexlive.com.

Bitcoin has been lagging in the recovery from the broad market rout in the start of August, in part because of worries about the sale of Mt. Gox bitcoin. But it's making up for lost time today, rallying nearly 5% and trading at a session high.The daily chart has a nice look as it breaks out of two weeks of consolidation to the upside with not much standing in the way of $68,000. This article was written by Adam Button at www.forexlive.com.

Mt. Gox fund liquidation weighed heavily on bitcoin yesterday in what was an otherwise-strong environment for risk assets. It's been a tricky run for bitcoin as it disconnects from the tight correlation to the Nasdaq.I think that connection is ultimately restored and it climbs back into the $64,000 range but I also think the market is partly trading off politics and the falling odds for Republicans would seemingly hurt crypto. This article was written by Adam Button at www.forexlive.com.

Bitcoin has fallen nearly $2000 in the last 30 minutes, dropping to $57,600.The low so far matches the one from earlier in the week and that should provide some support.A break lower could complete the round trip to $55,000 and wouldn't bode well for the broader risk trade.As for the catalyst, it may be Mt Gox money moving sending a trial transaction. The $2.1 billion worth of bitcoin could be sold and bitcoin bulls don't want to get swept away by that momentum. This article was written by Adam Button at www.forexlive.com.