Bitcoin (BTC) faces a “cycle bottom” this year in which it could drop over 50% from current levels, research claims. In a Twitter thread on June 1, Venturefounder, a contributor at on-chain analytics platform CryptoQuant, forecasted 2022 as Bitcoin’s year to “capitulate.” Bitcoin now has “best 3-year ROI ever” Based on historical patterns involving Bitcoin’s halving cycles, this year should be the bearish black sheep of the current four-year cycle, Venturefounder wrote. Just like 2018 and its bear market, BTC/USD should find itself a macro floor at some point in 2022, and when calculating previous dips from all-time highs, this …

Axie Infinity (AXS) price dropped sharply on June 1, suggesting that its supersonic gains in the last two days might have been a part of a bear market rally. The AXS/USD pair soared 54% week-to-date to over $28 on May 31, its highest level in three weeks. But Axie Infinity price failed to hold the gains, correcting by more than 21% to $22 while raising the possibility of more downside to come. Trading behavior witnessed in the last 24 hours supported the downside outlook, with AXS/USD trading volume spiking during the selloff on May 31. AXS price bear trend Axie …

The United States Federal Reserve is starting the process of paring back its $9 trillion balance sheet that ballooned in recent years in a move called quantitative tightening (QT). Analysts from a crypto exchange and financial investment firm have conflicting opinions about whether QT, starting on Wednesday, will put an end to a decade of unprecedented growth across crypto markets. The worst part about this is that I would imagine ~80% of Americans have no idea what QUANTITIVE TIGHTENING is Why would we, this wasn’t taught in public school The SEC should worry about educating Americans on these terms as …

Australian consumer advocacy group CHOICE has called on the federal government to provide better protection for crypto investors while submitting a proposed regulatory framework for cryptocurrency exchanges operating in the country. The regulatory framework was submitted in response to the federal Treasury’s consultation paper for crypto asset secondary service providers, or CASSPs, defined as firms providing custodial crypto wallets and exchange services. CHOICE commented: “As it stands, enforceable protections in the unregulated cryptocurrency market are somewhere between negligible and non-existent.” Outlining four main areas in its framework, the group called for a single definition of crypto for better regulation, a …

Ethereum's native token Ether (ETH) rose by more than 5% to reach its intraday high above $1,930 on May 30. Nonetheless, the ETH/USD pair risks facing another sell-off round due to concerns about a massive ETH inflow into an exchange. 58.7K Ether transferred to FTX in May On May 30, the Ether address allegedly associated with Three Arrow Capital — a Singapore-based crypto hedge fund, sent 32,000 ETH worth $60 million to the FTX crypto exchange within a span of an hour, on-chain data shows. The bulk transfer, which follows the fund's 26,700 ETH deposit to the same exchange earlier …

These can be anxious times for holders of cryptocurrencies, especially those who entered the market in late 2021 when prices were cresting. Bitcoin (BTC), Ether (ETH) and especially altcoins now appear to be undergoing a major reset, down 50% or more from November highs. Some worry that a whole generation of crypto adopters could be lost if things crumble further. “If the market decline continues, it will become too painful and retail investors will bail,” Eben Burr, president of Toews Asset Management, told Reuters earlier this month. “Everyone has a breaking point.” But, all the gloom and doom could be …

Crypto markets are undeniably bearish, but some industry insiders believe these conditions will shake out the bad actors and create greater opportunities for future participants. Traders tend to lament the negative price action and relative difficulty in executing profitable trades in bearish market conditions. However, several leading analysts and builders agree that this is the time to make moves that will lead to the greatest gains when bullish sentiments return. Polygon co-founder Mihailo Bjelic told CNBC on Friday that the current downturn and recent major sell-off earlier this month were just what the market needed. Bjelic believes that the market …

Crypto volatility is nerve-wracking, and it may not be over yet. The turmoil may make crypto investors and crypto-related businesses less enthusiastic than when prices seemed ever to be climbing. With the market falling off a cliff, there will be big losses to claim on your taxes, right? Not necessarily. As your United States dollars shake out in the digital world, it is worth asking whether there is any lemonade you can make by claiming losses on your taxes. First, ask what happened from a tax viewpoint. If you’ve been trading and triggering big taxable gains, but then the floor …

Crypto has taken over the world, and Formula 1 was no exception to the disruption. From nonfungible tokens (NFTs) and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways. Monaco Grand Prix 2022 saw F1’s fastest pit crew, Oracle Red Bull Racing (ORBR), partner with crypto exchange Bybit to launch ORBR’s 2022 NFT collection — minted on the Tezos blockchain. The limited-edition NFT collection is made available via an auction, wherein bidders get to collect digital collectibles representing various aspects of Red Bull’s past, present and future. Speaking to Cointelegraph editor-in-chief Kristina …

A massive downtrend in the STEPN (GMT) prices witnessed in the last 30 days appears to be nearing exhaustion. GMT’s price has rebounded by nearly 35% — from $0.80 on May 27 to $0.99 on May 28. Interestingly, the upside retracement started after the price fell in the same range, which had acted as support before GMT’s 500% and 120% price rallies in March and early May, respectively. Additionally, the rebound further preceded an 80% drop from its record high of $4.50, established on April 27, which left GMT oversold, according to its daily relative strength index reading that slipped …

Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology. WEMIX, a gaming protocol that operates on the Klaytn network, aims to get in on the GameFi revolution and this week, the project's native token (WEMIX) rallied even as the wider market continued to sell-off. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $1.27 on May 12, WEMIX price climbed 269% to hit a daily high at $4.70 on May 25 as its 24-hour trading volume increased …

Bill Miller the billionaire founder and chief investment officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) an “insurance policy against financial catastrophe.” Appearing on an episode of the “Richer, Wiser, Happier” podcast on May 24, Miller backed the cryptocurrency as a means for those caught in conflict to still access financial products. He used the collapse of financial infrastructure in Afghanistan after the United States withdrawal in August 2021 as an example. “When the U.S. pulled out of Afghanistan, Western Union stopped sending remittances there or taking them from Afghanistan, but if you had Bitcoin, …