Cryptonews

The art of short-side losses crafted another $269 million, bringing the grand total of liquidations to $675.8 million—an epic saga since April’s melodrama.

News Background
The selloff came amid rising anxiety over delays in potential crypto ETF approvals and a sudden resurgence in U.S. enforcement chatter around centralized exchanges. It was as if the market had decided to hold its breath, waiting for the next regulatory shoe to drop. 🙄

In a newly released statement titled “Crypto-Asset Safekeeping by Banking Organizations,” the regulators clarified that custody can be offered in both fiduciary and non-fiduciary roles. Banks must adhere to existing risk management frameworks and comply with applicable laws, but the statement does not introduce any new supervisory requirements. Instead, it serves as a guideline for how crypto safekeeping aligns with current banking laws.

The updated Criminal Code is a real treat. Those who dare to use an “unauthorized crypto-asset exchange service” can face penalties that increase based on the value traded. It’s like a game of financial roulette, where the stakes are your freedom 🎲.

Bitcoin, in a splendid display of determination, sought to break free from the shackles of $116,500, donning its finest attire as it danced above the prestigious realms of $118,000 and beyond, soon topping the scales at the impressive $120,000.

The same wallet that previously moved 80,000 BTC in a matter of hours has now transferred a whopping 20,000 BTC on July 14, just as Bitcoin was hitting a new all-time high of $123,000. Talk about timing! 🕒

The 30-minute UNI/USDT chart shared by analyst Crypto Joe (@CryptoJoeReal) highlights a textbook Inverted Head and Shoulders formation, a classic bullish reversal pattern. The neckline breakout occurred near the $8.50 level, supported by a noticeable uptick in volume and confirmation through a 1.02% gain to $8.598. Price currently holds above the 50-period moving average, reinforcing bullish momentum and validating support.

After a brief moment of triumph, reclaiming key levels and showing signs of strength, DOGE is now staring down the barrel of a high-volume resistance region. This is the same region that has historically been the kiss of death for price advances. But fear not, dear bulls! A temporary correction from current levels would be a healthy dose of reality, and might just provide the momentum needed for a renewed move higher, perhaps even targeting the $0.23 region in the short term 🚀.

Newsflash: on July 14, BitMine dropped the bombshell that they scored all this crypto goodness right after closing a $250 million private placement. Apparently, they decided that chasing electric rates was so last season, and opted for Ethereum like it was the latest trend on a Paris runway.

Fedwire, the U.S. central bank’s real-time gross settlement system, is joining the 21st century by adopting this standard to enhance cross-border payments 🌎. It’s about time, don’t you think? I mean, who doesn’t love faster, more secure, and interoperable payments? 💸