Ether (ETH) is down 38% in three weeks and the current $2,000 level is 59% below the $4,870 all-time high that was reached in November 2021. Additional newsflow that added to the current marketwide volatility were the bankruptcy fears that emerged after Coinbase, the largest United States exchange, reported a $430 million first-quarter 2022 loss. In the most recent 10-Q filing Coinbase included the following disclosure: “In the event of a bankruptcy, the crypto assets we hold on behalf of our customers may be subject to bankruptcy proceedings.” Regulatory uncertainty was also partially responsible for Ether’s sharp correction. On May …

Macro investor Raoul Pal is convinced that the current crypto bear market will end only once the Fed eases its hawkish monetary policy by halting interest rate hikes. That could happen in the next couple of months, according to Pal's predictions. “The Fed are unlikely to raise rates as far and as fast as people expect. My guess is they probably stop raising rates sometime in the summer and that will be it,” he said in an exclusive interview with Cointelegraph. Pal sees the combination of high interest rates and fear of an upcoming recession as the main macro factors …

Bitcoin (BTC) bulls demanded a rematch of $30,000 later on May 12 as the market recovered from its lowest levels since late 2020. DXY looms large as BTC recovers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $29,500, holding higher after the Wall Street open. The pair was volatile but showing few signs of fresh capitulation, with a sea of long positions on major exchange Bitfinex exhibiting what analysts believed was conviction over lower levels not returning. Bitfinex longs even managed to set a new all-time high in leverage on the day. In the meantime BTCUSD longs …

Validators for the Terra blockchain have decided to officially halt network activity on Thursday in a move designed to prevent governance attacks following the severe devaluation of the network’s LUNA token. Terraform Labs' official Twitter handle confirmed that the blockchain network was halted at a block height of 7,603,700. The move follows a series of dramatic events that triggered an unprecedented decline in the price of LUNA and its associated TerraUSD (UST) stablecoin. The stablecoin, which was designed to maintain algorithmic parity with the United States dollar, lost its peg earlier this week before plunging below $0.30. The Terra blockchain …

Dogecoin (DOGE) shows the prospect of undergoing a strong price rebound after reaching a technical support confluence on May 12. DOGE price 25% bounce incoming? DOGE's 45% price drop to $0.065 this week, or a 90% decline from its record high of $0.76 a year ago, was met with decent buying sentiment. As a result, the token underwent a modest price rebound on May 12, rising over 10% to $0.078. Interestingly, Dogecoin's upside retracement move started near a confluence of two support levels: a multi-month downward sloping trendline and a horizontal line that preceded a 335% price rally in the …

ApeCoin (APE) has undergone a sharp recovery after falling to its lowest level in two months. But its strong correlation with Bitcoin (BTC) and U.S. equities amid macro risks suggests more losses could be in store. APE rebounds after 80% losses in two weeks APE rebounded by nearly 45% to $7.30 on May 12. The upside retracement move came after APE dropped circa 81% to $5 on May 11, from its record high near $27.50, established on April 28. The seesaw price action mirrored similar volatile moves elsewhere in the crypto market, led by the chaos around TerraUSD (UST) — …

Amid the collapsing Terra network’s cryptocurrencies Luna (LUNA) and TerraUSD (UST), crypto exchange Binance continues deactivating related trading services. Binance’s derivatives arm Binance Futures has delisted coin-margined LUNA perpetual contracts, the firm officially announced on Thursday. “Users are advised to close any open positions prior to the delisting time to avoid automatic settlement,” the statement by the platform reads. Binance Futures has also started conducting automatic settlements on the contracts, reducing the leverage tiers and updating margin tiers for coin-margined LUNA perpetual contracts. As such, the 8x leverage tier is now the max leverage tier available on Binance for LUNA …

Bitcoin (BTC) bounced past $28,000 on May 12 after repeating a chart structure not seen since March 2020. BTC seller losses spiral Data from Cointelegraph Markets Pro and TradingView continued to track BTC/USD as it briefly fell to just under $24,000 on Bitstamp. A strong reversal then sent the pair several thousand dollars higher in minutes, with consolidation then taking hold to see it trade at around $27,000. The bounce zone was significant, constituting Bitcoin’s so-called realized price — the sum total of all unspent transaction outputs (UTXOs). The last time that BTC/USD tested realized price was during the COVID-19 …

Cryptocurrencies markets continue to suffer major losses following the depegging of Terra ecosystem’s stablecoin TerraUSD (UST), causing discrepancies between stablecoin pegs and the value of Bitcoin (BTC). Stablecoin Tether (USDT) showed signs of stress, as USDT/USD traded under $0.99 on major exchanges. Tether and Bitfinex chief technology officer Paulo Ardoino took to Twitter to assure USDT holders that over 300 million UDST tokens had been redeemed at their $1 peg over the past 24 hours. GM Reminder that tether is honouring USDt redemptions at 1$ via https://t.co/fB12xESSvB . >300M redeemed in last 24h without a sweat drop. — Paolo Ardoino …

The Terra rescue story continues to unravel. In a tweet thread, the Terra Money Twitter account went into greater detail regarding the CEO of Terraform Labs, Do Kwon’s, rescue plan for UST. The thread sheds light on Proposal 1164, Do Kwon’s initial strategy for Terra from May 11. The proposal would better balance the algorithmic stablecoin Terra USD (UST) by expanding the base pool for the currency. The proposal has received 220,000 votes, at over 50%. The tweet thread also explains that there is a “supply overhang” of UST which explains Terra’s (LUNA) “dilution,” or price depreciation. As a result, …

Bitcoin (BTC) fell out of its long-term trading range on May 12 as ongoing sell pressure reduced markets to 2020 levels. Tether wobbles as UST stays under $0.60 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it exited the range in which it had traded since the start of 2021. At the time of writing, the pair circled $26,700 on Bitstamp, marking its lowest since Dec. 28, 2020. The weakness came as fallout from the Terra meltdown continued to ricochet around crypto and beyond, with rumors claiming that even professional funds were experiencing solvency issues due to losses …

Ether (ETH) has taken out the top spot on Twitter as the most hated of five cryptocurrencies studied, while the meme-token Dogecoin (DOGE) is the most liked. The findings emerged from a new report by TRG Datacenters that analyzed a year’s worth of tweets between January 2021 and January 2022 concerning five of the most popular cryptocurrencies to figure out which digital assets were the most emotionally stirring on Twitter. According to the analysis — which looked at Bitcoin (BTC), Cardano (ADA), Dogecoin, Ether and Litecoin (LTC) — Ether was firmly the most negatively associated, with 29% of all tweets …