Crypto Currency

Ten Things You Need to Know Today: Wednesday 18 Nov 2020

Brexit trade deal ‘days away’ as hurdles fall An agreement between the UK and EU about post-Brexit trade could be “just days away,” says The Daily Telegraph, after the latest talks in Brussels. Hopes have risen after the Irish prime minister said “landing zones” for an agreement are now in sight. France is believed to have…

Brexit trade deal ‘days away’ as hurdles fall
An agreement between the UK and EU about post-Brexit trade could be “just days away,” says The Daily Telegraph, after the latest talks in Brussels. Hopes have risen after the Irish prime minister said “landing zones” for an agreement are now in sight. France is believed to have accepted that its fishing rights in UK waters will be reduced after the transition period ends on 31 December, removing one of the most significant obstacles.

Trump fires official who rejected election fraud claim
Donald Trump has fired Chris Krebs, the director of the Cybersecurity and Infrastructure Security Agency, who had denied the president’s allegations of widespread voter fraud. On Twitter, Trump said he was firing Krebs because of his “highly inaccurate” statement that there “is no evidence that any voting system deleted or lost votes, changed votes, or was in any way compromised”.

PPE suppliers with political ties ‘more likely to succeed’
Companies bidding to supply personal protection equipment, such as masks and gloves, were ten times more likely to be successful if they had political connections, according to the parliamentary spending watchdog. It emerged yesterday that a Spanish businessman who acted as a go-between on contracts to provide gowns, masks and other equipment for NHS workers was paid £21m of taxpayers’ money.

Corbyn’s return to Labour Party provokes mixed response
Sir Keir Starmer has faced both criticism and praise after Labour decided to readmit former leader Jeremy Corbyn just three weeks after he was suspended for his reaction to the report on anti-Semitism in the party. The Board of Deputies of British Jews said Labour had taken a “retrograde step” in its efforts to rebuild relations. However, Len McCluskey, head of the Unite union, tweeted: “Jeremy Corbyn’s readmission is the correct, fair and unifying decision.”

Household mixing ban proposed to save Christmas
People from separate households will be barred from mixing when the national lockdown ends under government plans to keep the infection rate low in the run-up to Christmas, according to The Daily Telegraph. In recent days, government scientific advisers have suggested that a return to the regional tiered system will have to be accompanied by tighter rules within each tier. However, the plans also reportedly include a loosening of restrictions for a few days over the festive season.

Ban on new petrol and diesel cars in UK from 2030
The government has announced that new cars and vans powered wholly by petrol and diesel will not be sold in the UK from 2030, ten years earlier than previously expected. Boris Johnson says the move is part of a “green industrial revolution” to tackle climate change and create jobs. The plan also aims to make cycling and walking more attractive ways to travel and to invest in zero-emission public transport for the future.

Self-isolating Boris Johnson to hold PMQs remotely
The prime minister will make history today by holding his weekly question-and-answer session with MPs via video link. Boris Johnson is self-isolating in 10 Downing Street after coming into contact with fellow Conservative MP Lee Anderson, who later tested positive for coronavirus. He decided to take questions remotely rather than ask deputy Dominic Raab to stand in for him.

Anxiety grows over Trump’s military plans
Senior Republicans have expressed concerned about Donald Trump’s “bucket list” of actions for his final weeks in office,  The Times reports. The outgoing president has ordered a withdrawal of US troops in Afghanistan and Iraq, and options for a strike on Iran’s main nuclear processing facility were reportedly discussed at the Oval Office last Thursday. Trump was talked out of an attack.

Investors flock to Bitcoin during the coronavirus pandemic
Anxiety over the Covid-19 pandemic has helped Bitcoin, the world’s best-known cryptocurrency, to pass $17,000 (£12,800) and hit a three-year high. Amid volatility on global stock markets, investors have been piling money into cryptocurrencies, which they see as a “safe haven”. However, one investor said: “I have far more confidence in the $50 note in my wallet retaining its value over time than Bitcoin.”

Weinstein monitored amid Covid-19 rumours
The disgraced Hollywood boss Harvey Weinstein is sick and being “closely monitored” in prison, where he is serving a 23-year sentence for rape. A spokesperson for Weinstein said he has a fever but would not “confirm nor deny” that the 68-year-old had tested positive for Covid-19. He is considered vulnerable to the virus because of age, weight and other medical issues.

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Crypto Currency

Meme coins remain under pressure as Dogecoin extends losses

Key takeaways Dogecoin extends its correction on Monday as memecoins record huge losses. DOGE could drop below $0.10 if the bearish trend persists.  Memecoins record huge losses The cryptocurrency market opened the new weekly candle bearish, with Bitcoin (BTC) slipping below the $77,000 level on Monday and risk appetite deteriorating across digital assets. Meme coins


Dogecoin risks dropping below $src.1srcsrc

Key takeaways

  • Dogecoin extends its correction on Monday as memecoins record huge losses.
  • DOGE could drop below $0.10 if the bearish trend persists. 

Memecoins record huge losses

The cryptocurrency market opened the new weekly candle bearish, with Bitcoin (BTC) slipping below the $77,000 level on Monday and risk appetite deteriorating across digital assets.

Meme coins started the week on a weak footing as the broader cryptocurrency market continued to struggle. Dogecoin, Shiba Inu, and Pepe all remain vulnerable to further downside after heavy selling pressure emerged following last week’s market correction.

DOGE is down by 5%, making it the worst performer among the top 10 cryptocurrencies by market cap. 

Dogecoin briefly rallied last week and retested the important weekly resistance zone near $0.119 on Thursday before sellers regained control.

The rejection triggered a fresh wave of downside pressure, with DOGE falling nearly 6% through Sunday and extending losses further on Monday as the token traded below the $0.106 level.

Technical outlook: DOGE risks a deeper correction below key EMAs

The DOGE/USD 4-hour chart is bearish as the leading memecoin has dropped below major support levels. 

If DOGE closes the daily candle below the 100-day Exponential Moving Average (EMA) near $0.106, selling pressure could intensify toward the 50-day EMA around $0.103.

A decisive breakdown below that support area may expose the previous trendline breakout region near $0.090, which now acts as the next major downside target.

Momentum indicators continue to reinforce the bearish outlook for Dogecoin. The Relative Strength Index (RSI) on the 4-hour chart currently sits near 41, slipping below the neutral 50 threshold and signaling that bearish momentum is beginning to strengthen.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator confirmed a bearish crossover on Saturday, a signal that remains active and continues to support downside risk in the near term.

Despite the bearish setup, Dogecoin could still attempt a short-term rebound if buyers successfully defend the 100-day EMA support near $0.106.

DOGE/USD 4H Chart

A sustained hold above that level may allow DOGE to recover toward the key weekly resistance zone around $0.119.

However, broader market sentiment, particularly Bitcoin’s direction, is likely to remain the dominant driver for meme coin price action in the near term.

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Crypto Currency

Bitcoin slides below $76,800 as ETF outflows and inflation fears pressure crypto markets

Key takeaways BTC dips lower for a fourth straight day on Monday after losing nearly 6% the previous week. US-listed BTC spot ETFs record a weekly outflow of $1 billion, the highest in three months. Bitcoin (BTC) remained under pressure on Monday, trading below $77,000 after declining nearly 6% last week, as persistent spot ETF


Bitcoin drops below $77k

Key takeaways

  • BTC dips lower for a fourth straight day on Monday after losing nearly 6% the previous week.
  • US-listed BTC spot ETFs record a weekly outflow of $1 billion, the highest in three months.

Bitcoin (BTC) remained under pressure on Monday, trading below $77,000 after declining nearly 6% last week, as persistent spot ETF outflows and stronger-than-expected US inflation data dampened investor appetite for risk assets.

The latest decline marks Bitcoin’s fourth consecutive day of losses, with the cryptocurrency continuing to retreat after failing to sustain momentum above the key $82,000 resistance zone.

Hot US inflation data boosts hawkish Fed expectations

Bitcoin’s recent weakness accelerated following hotter-than-expected US inflation data released last week, alongside stronger US retail sales figures that reinforced expectations for a more hawkish Federal Reserve.

The renewed inflation concerns strengthened the US dollar and pushed Treasury yields higher, creating additional pressure on risk-sensitive assets such as cryptocurrencies.

Higher interest rate expectations typically reduce market liquidity and shift investor capital toward safer, yield-generating assets, limiting demand for speculative markets like Bitcoin.

The rejection near the $82,000 level also triggered additional profit-taking from short-term holders, intensifying the correction.

Institutional demand for Bitcoin also weakened notably last week. According to data from CoinGlass, US spot Bitcoin exchange-traded funds recorded net outflows of approximately $1 billion last week, marking the largest weekly withdrawal since late January.

The sharp reversal in ETF flows signals a cooling of institutional sentiment after several weeks of strong inflows that had previously supported Bitcoin’s rally.

If ETF outflows continue in the coming sessions, analysts warn that Bitcoin could face additional downside pressure.

Bitcoin price outlook: Bulls failed to take out a key resistance level

The BTC/USD 4-hour chart is bearish after Bitcoin’s price was rejected near the 100-week Exponential Moving Average (EMA) around $82,289.

BTC also closed last week below the 61.8% Fibonacci retracement level near $78,490, measured from the October all-time high of $126,199 to the February low around $60,000.

The breakdown below those key technical levels has shifted momentum firmly lower. If selling pressure persists, Bitcoin could extend losses toward the major psychological support level at $75,000.

On the weekly chart, momentum indicators remain mixed but increasingly cautious. The Relative Strength Index (RSI) slipped below the neutral 50 level and currently sits near 35, signaling a strong bearish momentum.

Meanwhile, the Moving Average Convergence Divergence (MACD) histogram is also in the negative region, suggesting that the bears are in control. 

If the bearish trend persists, immediate support sits near the clustered 50-day and 100-day EMAs below current

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Crypto Currency

Bitcoin Depot Files for Bankruptcy as Regulatory Pressure and Revenue Collapse Force Shutdown of 9,000 ATMs

Bitcoin Depot North America’s biggest Bitcoin ATM firm has reached an important point in its journey by submitting for Chapter 11 bankruptcy. This news represents a sharp decline for a firm that was once at the forefront of retail crypto access, but is now gearing up to methodically turn off more than 9,000 devices globally…

Bitcoin Depot North America’s biggest Bitcoin ATM firm has reached an important point in its journey by submitting for Chapter 11 bankruptcy. This news represents a sharp decline for a firm that was once at the forefront of retail crypto access, but is now gearing up to methodically turn off more than 9,000 devices globally…
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Crypto Currency

Japan Brokerages Build Crypto Funds as 2028 Reform Nears

Japan’s SBI Securities and Rakuten Securities are preparing in-house crypto investment trusts as regulators move toward allowing bitcoin and ether funds for retail brokerage accounts. The post Japan Brokerages Build Crypto Funds as 2028 Reform Nears appeared first on Crypto News Australia…

Japan’s SBI Securities and Rakuten Securities are preparing in-house crypto investment trusts as regulators move toward allowing bitcoin and ether funds for retail brokerage accounts.
The post Japan Brokerages Build Crypto Funds as 2028 Reform Nears appeared first on Crypto News Australia…
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