Interest rates increased today, and Powell delivered a significant speech.

26.07.2023

Dear traders,

The big increase in interest rates could potentially push prices down further.

Jake
TOP Trader

BTC is still holding above the 50MA and the $29,100 support level. The next significant support lies at $28,000, and a failure to hold above this level could lead to an even bigger drop. It remains in danger until the next bearish market news.

ETH is currently trading at a critical breakpoint of $1830. A break below this level may push the price lower, with bearish momentum potentially driving it further down.

The short signal for XRP is in effect, and it is now approaching the support line at $0.67. If the price holds at this level, it could present a great long entry point, potentially leading to a substantial push upward. It remains in danger before any bearish market news.

LINK pumped from the $7 support and is now trying to break out for a bullish continuation. This presents a great entry point for long positions and offers an attractive long-term buying opportunity.

SOL is showing resistance and attempting to break the $24.2 resistance before the next significant push upward.

EOS received a possible bounce signal, which is bullish, and there is a big possibility of a strong push upward. It remains a good option for long-term buying, but a significant push is required to break the resistance.

LTC is still fighting to hold the support level at $88, which provides an attractive entry point for long-term buying. Additionally, in 10 days, LTC will undergo a halving event, which is expected to result in a notable price increase due to a reduction in mining supply. This presents an excellent long-term investment opportunity!

The DXY is undergoing a pullback to the 101 support level before the next push up.

Crypto/stock daily news:

MIT RESEARCH: BTC MINING BENEFITS THE ENVIRONMENT

“Bitcoin mining is bad for the environment.”

We’ve all heard something like this before.

And that’s because Bitcoin mining uses a bunch of energy. (Fun fact: the only thing that uses more energy than a miner is a kid who just discovered how to flick the light switches on and off.)

Well, MIT researchers released a new study on Bitcoin mining last week.

The results? Bitcoin mining actually has a few environmental benefits.

Here are the four benefits the researchers found:

Bitcoin mining can help stabilize energy grids. It provides grid operators with a resource that can quickly adjust its power usage to offer stability during periods of high demand or grid stress.
Bitcoin mining can mitigate methane emissions. It can combust waste flare gas in electrical generators and reduce methane emissions burned into the atmosphere.
Bitcoin mining can be a solution to unplugged oil and gas wells. By operating near orphaned wells, miners can convert wasted energy into electricity, generate revenue, and fund well-sealing efforts to mitigate the climate impact.
Bitcoin mining can facilitate the expansion of renewable energy resources.

This is big.

It doesn’t necessarily put Bitcoin mining in the “Great for Environment” bucket, but it also takes it out of the “Destroying the World” bucket.

And it will only open up the conversation between researchers, scientists, and miners on how to make Bitcoin mining better and more eco-friendly.

FAST NEWS:

Backers dropped the Little Legends charitable NFT project today. Partnered with Shoes That Fit, holders benefit from unique NFTs, private events and rewards and get to help provide sneakers to those in need.*

Bitcoin’s volatility level has dipped to 0.74% – a new yearly low. It’s the lowest reading since Jan. 16.

Alphapo got hacked for over $31M. It’s suspected the crypto payment platform was exploited due to a leak of private keys.

Kraken launched a new web interface. The crypto exchange simplified fiat & crypto deposits/withdrawals and redesigned its user interface to make crypto as easy as possible.

Bitcoin “long-term holders” now control 75% of the circulating supply. Long-term holders = addresses that have held Bitcoin for at least 155 days.