Category: Bitcoin News

Grok’s Praise of Elon Musk Athleticism Shows AI Needs Decentralization

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Elon Musk is more handsome than Brad Pitt, fitter than LeBron James and could easily outclass former heavyweight champion Mike Tyson in a boxing ring — at least that’s according to his AI chatbot Grok, after the latest 4.1 update that was released this week.  On Thursday, X users began finding that Grok was a little too enthusiastic about its creator. One response even suggested Musk could have resurrected faster than Jesus Christ. Many of Grok’s responses on X have since been deleted.  While Musk has since blamed “adversarial prompting”…

Bitcoin Will Not Tap $200K Until Q3 2029: Peter Brandt

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Veteran trader Peter Brandt said he doesn’t see Bitcoin reaching $200,000 before the end of the year as some crypto executives have predicted. In fact, he argues it may take nearly four more years to get there. “The next bull market in Bitcoin should take us to $200,000 or so. That should be in around Q3 2029,” Brandt said in an X post on Thursday, while emphasizing that he is a “long-term bull on Bitcoin.”  Brandt’s forecast stands out for several reasons. Many prominent Bitcoin (BTC) advocates, such as BitMEX…

Bitcoin Sentiment Mixed as Traders Debate Prices From 70K to 130K

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Crypto trader sentiment on social media is currently split right down the middle, with one side predicting a Bitcoin drop below $70,000 and the other expecting a rally to $130,000.  Bitcoin (BTC) dipped below $87,000 on Thursday for the first time since April; however,  “Social volume still shows a mixed bag of dip buy optimism and doom & gloom, with very little in between,” market intelligence platform Santiment said in an X post.  Data from Santiment’s research platform, Sanbase, found that social media mentions on Thursday were roughly evenly split…

Ex-prosecutor Denies Promising Not to Charge FTX Exec’s Partner

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Danielle Sassoon, one of the US attorneys behind the prosecution of former FTX CEO Sam “SBF” Bankman-Fried, took the stand in an evidentiary hearing involving a deal with one of the company’s executives.  In a Thursday hearing in the US District Court for the Southern District of New York, Sassoon testified about the guilty plea of Ryan Salame, the former co-CEO of FTX Digital Markets, which resulted in his sentencing to more than seven years in prison.  According to reporting from Inner City Press, Sassoon said that her team would…

Ethereum Treasury Companies Slip Underwater As ETH Price Trades Below $3K

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Key takeaways: Ethereum treasury companies are sitting on millions of dollars of unrealized losses, raising concerns about their sustainability. Ethereum treasury companies trading below NAVs signal eroding confidence, potentially pressuring ETH price further. An ETH price fractal hints at $2,500 as the 200-week moving average becomes the last line of defense. Ether (ETH) fell 30% over the past 30 days, dropping below $3,000 to a four-month low of $2,806 on Thursday. Technical indicators and institutional demand are leaning bearish, increasing the odds of a further correction below $2,500. Ether price…

Coinbase Launches ETH-backed Loans as Onchain Lending Grows

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Coinbase has launched Ether-backed loans for US users, allowing customers to borrow USDC against their ETH holdings without selling, in a new offering powered by Morpho and running on Base. The exchange said the product is available across most US states, except New York, with variable rates and liquidation risk tied to market conditions. Users can borrow up to $1 million in USDC (USDC) stablecoin. Source: Coinbase Coinbase plans to expand the program to other assets, including loans backed by its staked Ether (ETH) token, cbETH. The new product is being…

Spot ETF Inflows Rise as SOL Price Faces Key Test

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Spot Solana exchange-traded funds (ETFs) have continued to attract capital despite SOL’s (SOL) steep price drawdown. Since launch, the products have accumulated $476 million in total net inflows, with the streak extending 17 consecutive days, even as Solana’s (SOL) price plunged nearly 30% from $186 to $130. Key takeaways: Spot SOL ETFs posted 17 straight days of inflows, with Bitwise’s BSOL representing 89% of the total value. Futures data underscored the building of selling pressure near the $140 resistance zone, which could send SOL to a retest of $120.  Spot…

Congressman Warren Davidson Introduces the ‘Bitcoin for America’ Act

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A US lawmaker introduced a bill in the House of Representatives on Thursday that would allow Americans to pay their federal taxes in Bitcoin, which would then be funneled into the US strategic Bitcoin reserve. Under the Bitcoin for America Act proposed by Representative Warren Davidson, a Republican from Ohio, BTC (BTC) transferred to the US government for tax payments would not be subject to capital gains taxes and not be recorded as a loss or gain for the taxpayer. In a press release, Davidson said: “By allowing taxpayers to…

Can Bitcoin Price Reclaim $100K After Nvidia’s Strong Earnings?

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Key takeaways: A Q1 2025 fractal and oversold market conditions suggest BTC could consolidate before retesting the $98,000 to $100,000 zone. One analyst made a bold price prediction, suggesting that a rising wedge breakdown could open the door to a deeper correction, potentially reaching $30,000. Bitcoin (BTC) jumped after Nvidia Corp.’s stronger-than-expected revenue outlook helped calm fears of an overheating AI bubble, but the gains quickly reversed as the Dow gave up a 700-point rally to turn negative and US stocks sold off. WHY are markets crashing? Our logical explanation:…

Analysts Warn of Max Pain Levels

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Key takeaways: A Bitwise analyst outlined the $84,000 to $73,000 region as the likely “max pain” capitulation range for Bitcoin. Cost-basis levels of BlackRock’s IBIT and Strategy’s BTC treasury could heavily influence liquidity flows. The worst-case scenario for BTC is a “fire-sale” level  Bitwise European head of research, André Dragosch, said that Bitcoin’s “max pain” zone resides between two critical cost-basis levels: BlackRock’s IBIT at $84,000 and MicroStrategy’s near $73,000. Dragosch argued a final cycle bottom is most likely to form somewhere between these levels, describing them as “fire-sale” prices…