Category: Breaking

Bitcoin suffered a steep decline four years ago around Thanksgiving after being turned away at the $20,000 level.The action this year after failing at $100,000 is similar, though less severe so far.Those who bought the dip in 2020 didn’t have to wait long to be rewarded.

The U.S. Treasury Department’s researchers were watching out for crypto risks, but they found digital assets enthusiasts with otherwise low incomes were buying homes in recent years at a high rate.The high-crypto, poor areas have apparently used crypto gains to obtain mortgages and car loans, the Office of Financial Research found, but the delinquency rates on the debt have been low. This cohort of the population is still worth watching for emerging risks if the markets take a turn, the paper noted.

A bitcoin-led crypto market correction continued into its third day as the asset lost a further 3.5% in the past 24 hours.However, bitcoin tends to bounce back when short-term holders sell at a loss. And some say this creates a buying opportunity for traders at current levels.It’s a ride that some expect to be packed with market volatility.

Archax has provided access to Abrdn’s U.S. dollar Liquidity Fund (Lux) in tokenized form on XRPL.Ripple will allocate $5 million into tokens on Abrdn’s Lux fund, part of a larger allocation to real-world assets (RWAs) on the XRPL.XRP price jumped 6%, touching a high of $1.49 in the hours following the release, before paring gains in a market-wide drop.

Ethereum has seen a surge in blob usage, averaging over 21,000 blobs this month, matching March’s record activity.The Dencun upgrade allows Layer 2 solutions to efficiently bundle transactions and post them to Ethereum.Blob fees spiked, leading to the burning of over 166 ETH worth $560,000 in the past week.

Long-term investors have sold almost 550,000 BTC, almost 4% of their holdings.Last week, one-day profit-taking touched a record high in dollar terms, more than $10.5 billion. The percentage drop from long-term holders continues to fall each cycle.

Bitcoin has fallen over 6% in the last 24 hours.Indicators suggest BTC could drop to as low as $90,000.Ether outperforms the broader market.

Early 2000s-style internet shock videos are making the rounds on Solana-based popular crypto platform Pump.fun, with such content including extreme acts like individuals engaging in self-harm, animal cruelty, and explicit sexual content to attract attention and potentially increase token value.The crypto community, particularly on X, has largely criticized the use of shock content to promote tokens. Most tokens associated with such dark themes struggle to achieve significant market capitalization, indicating poor reception by investors.In response, Pump.fun has paused the ability to live stream.

MicroStrategy bought 55,500 more bitcoin over the past week for $5.4B, bringing its total holding to 386,700 BTC. MicroStrategy recently entered the top 100 U.S. publicly traded companies by market cap, briefly surpassing $100 billion valuation. The Nasdaq 100 Index begins its annual reranking this week, with results set to be announced on Dec. 13.

Bitcoin returns to $98,000.Crypto futures saw $500 million in liquidations amid volatility.Brokers raise price targets for MicroStrategy.