Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
The Hong Kong Monetary Authority announced a 4.00% interest rate for the fourth payment of the Silver Bond Series due 2025. (Read More)
Riot Platforms has intensified its efforts to acquire rival Bitcoin miner Bitfarms by issuing an open letter to the firm’s shareholders on Sept. 3. In the letter, Riot announced that it had lowered its request for board seats at Bitfarms to two independent directors following recent removals while also criticizing several of the company’s recent decisions. […]
The post Riot Platforms targets remaining 2 Bitfarms board members’ replacement appeared first on CryptoSlate.
Bitcoin has shown bullish momentum during the past day, but an analyst has pointed out how the asset may be in a high-risk zone now due to the Open Interest trend. Bitcoin Open Interest Has Seen A Rapid Increase Recently As explained by CryptoQuant community manager Maartunn in a new post on X, the Bitcoin Open Interest has just surged to high levels. The “Open Interest” is an indicator that keeps track of the total amount of BTC-related positions currently open on all derivatives exchanges. Related Reading: Shiba Inu Rallies 34%, But Will FOMO End The Rally? When the value of this metric rises, it means the investors are opening up fresh positions on the derivatives market right now. As the overall leverage in the sector increases when this trend occurs, it can lead to higher asset price volatility. On the other hand, the indicator heading down suggests the derivatives contract holders are either closing up positions of their own volition or getting forcibly liquidated by their platform. This kind of trend can lead to more stability for BTC. Now, here is a chart that shows the trend in the Bitcoin Open Interest over the past year: As displayed in the above graph, the Bitcoin Open Interest had cooled off to relatively low levels earlier in the month as the asset’s price crashed. With the recovery in the coin, however, the indicator has been noting growth again. The indicator is now high, potentially implying the market has become overleveraged. As mentioned earlier, a high metric value can lead to more volatility for BTC. The reason behind this is that mass liquidation events can become more probable to occur at these levels, making the price act more volatile. On paper, the volatility emerging from an Open Interest increase can take the coin in either direction, but BTC has shown a consistent pattern in the past year. As the analyst has highlighted in the chart, the indicator entering into the same zone as now has generally turned out to be bearish for Bitcoin in this window. Related Reading: Render (RENDER) Shows 23% Surge As Sharks & Whales Continue To Buy In these instances, the Open Interest surge had occurred alongside price surges, indicating that long positions had been piling up. The latest growth in the indicator has also naturally come similarly. “We’re in a high-risk zone, and in my opinion, it’s not the best time for fresh long positions,” notes Maartunn. It remains to be seen how Bitcoin develops in the coming days and if it will hit the top, just like it did during those other instances. BTC Price Following the rally in the past day, Bitcoin has managed to find a break above the $66,000 level for the first time in almost two months Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The Hong Kong Monetary Authority has set the interest rate for the second interest payment on retail green bonds due 2026 at 4.75% per annum. (Read More)
HKMA and NDRC held a seminar to enhance Mainland enterprises' cross-border financing in Hong Kong, aiming to strengthen offshore debt issuance. (Read More)
An analyst has explained how the next Bitcoin top could be situated around $400,000, if this model for the asset’s price continues to hold. Bitcoin Long-Term Power Law Could Reveal Possible Location Of Next Top In a new post on X, analyst Ali Martinez has talked about what the Long-Term Power Law could say about the next potential Bitcoin top. The “Long-Term Power Law” here refers to a BTC price model created by Bitbo. The model involves three lines, the main one being the “power law,” which is derived by taking a linear regression of the historical BTC price. “This power law is just a straight line to represent the correlation between Bitcoins price and time,” notes Bitbo in the model’s description. Related Reading: Bitcoin MVRV Ratio Is At A Critical Retest: Can Bulls Triumph? The other two lines of the model are just replicas of the power law, with the only difference being how they are arranged on the chart. One of these lines is placed under the power law just enough that BTC’s historical price either stays above it or touches it. This level of the model is called the support line. Similarly, the other line sets an upper boundary on the cryptocurrency’s price and is known as the resistance level. Now, here is a chart that shows the trend in the Bitcoin Long-Term Power Law over the history of the asset: As is visible in the graph, Bitcoin’s spot price is currently being traded under the power law. The asset retested the line earlier in the year when it set its new all-time high (ATH) but couldn’t find a break. Despite the recent bearish action, though, BTC still has some distance over the support line of the model. The graph shows that Bitcoin set three of its major tops around the resistance line. However, the 2021 bull run top occurred before the asset could reach the level. Thus, it’s unknown whether or not the current BTC cycle will follow the lead of the earlier three. Related Reading: Is Altcoin Season Coming? These Two Signals Could Suggest So “If the Bitcoin Long-Term Power Law holds, the next market top might hit around $400,000!” notes Martinez, based on the fact that the resistance level would assume a value around that mark next year. As for when exactly BTC could hit its next cyclical top, the analyst has also discussed it in another X post, sharing the chart below for the asset’s performance during the last couple of cycles. “If this Bitcoin cycle follows the last two, we could see a market top in about a year, around October 2025!” says Martinez. BTC Price Bitcoin has been moving sideways over the last few days as its price still floats around the $63,200 mark. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
In a pivotal week for both Congress and the cryptocurrency sector, Ron Hammond, Director of Government Relations at the Blockchain Association, highlighted that SEC Chair Gary Gensler and fellow commissioners are set to testify before two key congressional committees. This year’s hearings had an unusual intensity, given the looming election and escalating scrutiny from Gensler’s […]
The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective.
The Hong Kong Monetary Authority (HKMA) has announced the launch of the second phase of its central bank digital currency (CBDC) pilot program, known as e-HKD, according to a Sept. 23 statement. The second phase will delve into advanced use cases for digital money, emphasizing e-HKD and tokenized deposits for individuals and businesses. The first […]
The post Hong Kong monetary regulator launches second phase of CBDC project appeared first on CryptoSlate.
Hong Kong emerged as the fastest-growing Eastern Asian country in terms of global crypto adoption, with 40% of the regions value received in stablecoins.
The People's Bank of China is set to issue Renminbi Bills through the Central Moneymarkets Unit of the Hong Kong Monetary Authority. (Read More)
Coinbase CEO Brian Armstrong, Congressman Wiley Nickel (D-NC) emphasized the need for the United States to decisively lead on crypto policy in a bipartisan manner.
The final event of the America Loves Crypto tour took place yesterday in Washington, D.C. as the country counts down to the 2024 election. Speakers including Coinbase CEO Brian Armstrong, ConSensys CEO Joseph Lubin, and Congressman Wiley Nickel (D-NC) addressed the maximum capacity crowd at the Black Cat music venue. The speakers largely agreed on [...]
The post Bi-Partisan Consensus Emerges on Final Day of America Loves Crypto Tour appeared first on Crypto Breaking News.
According to The Longevity Foundation, nascent technologies such as artificial intelligence can also help solve the aging problem.
House of Representatives members brought up FTX, Donald Trumps token launch, and SEC Chair Gary Gensler at the Dazed and Confused digital assets hearing.
Hong Kongs government plans to regulate AI in finance by issuing policies at the upcoming FinTech Week.
Crypto advocates urged Americans to help the industry flourish without "misapplied" securities regulations.
The market now broadly expects a 0.5% cut, but Senator Warren thinks the Fed needs to act faster to save the labor market.
Hong Kong risks falling behind in crypto as the city is urged to speed up regulation to keep pace with the rapidly evolving industry.
According to Bitfarms, the mining hardware was originally scheduled to be deployed in Yguazu, Paraguay sometime in December 2024.
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
