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Price Updates: BTC, ETH, BNB & ADA

Bitcoin has surged above the overhead resistance and that has pushed certain altcoins higher. Bitcoin shot above the $1 trillion market capitalization today, pulling the total crypto market capitalization close to $2.3 trillion. This marks a complete 100% recovery from the June 22 lows.

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Bitcoin has surged above the overhead resistance and that has pushed certain altcoins higher. Bitcoin shot above the $1 trillion market capitalization today, pulling the total crypto market capitalization close to $2.3 trillion. This marks a complete 100% recovery from the June 22 lows.

BTC

Bitcoin broke above $48,843.20 which was the first sign that the correction may be over. This may have attracted bears, resulting in a rally. The bulls have pushed the price above $52,920, which invalidates the H&S pattern. The 20-day exponential moving average of $46,947 has turned up and the relative strength index (RSI) is close to the overbought zone, this show that the bulls are running the show.

ETH

Ether bounced off the 50-day simple moving average 0f $3,3174  and the bulls extended the recovery. However, the bears tried to delay the rally today and they pulled the price to the 50-day SMA. The candlestick shows aggressive buying near the 50-day SMA. The rising 20-day EMA of $3,262.50 and the RSI in the green zone indicate that bulls are in dominating.

BNB/USDT

Binance Coin broke and closed above the overhead resistance of $433 but the bulls have not been able to gain momentum. The bears pulled the price back below $433 today but the positive sign is that bulls aggressively bought the dip. The 20-day EMA of $404 is sloping up and the RSI is in the positive territory, indicating that buyers have the upper hand. If bulls push and hold the price above $444, BNB could rally to $518.90.

ADA

The bulls have not been able to clear the overhead hurdle at the 20-day EMA at $2.25 in the past few days, indicating selling at higher levels. The candlestick suggests that bulls are accumulating ADA at lower levels. The 20-day EMA is flattening out and the RSI is just below the midpoint, suggesting a balance between supply and demand. If bulls drive the price above the 20-day EMA, ADA could rally to $2.47.

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GameStop hints at future Bitcoin purchases following board approval

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GameStop is exploring the possibility of adding Bitcoin to its balance sheet, but any future purchases will require approval from the company’s board of directors. The move signals the gaming retailer’s continued interest in digital assets as it seeks to diversify its financial strategy.

The potential Bitcoin investment aligns with GameStop’s previous forays into the crypto space, including its NFT marketplace and blockchain gaming initiatives. However, the company has not yet committed to a specific timeline or amount for Bitcoin purchases.

Industry analysts suggest that if GameStop proceeds with Bitcoin acquisitions, it could follow in the footsteps of other publicly traded companies, such as MicroStrategy, that have adopted Bitcoin as a reserve asset. The decision could also serve as a signal to retail and institutional investors about GameStop’s long-term outlook on digital assets.

As the company awaits board approval, the broader market will be watching closely to see if GameStop makes a decisive move into Bitcoin, potentially influencing other corporations to consider similar strategies.

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SEC nominee Atkins discloses at least $327M in assets ahead of confirmation hearing

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Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission (SEC), is under scrutiny over financial disclosures related to his wife. The concerns emerged during a recent hearing, raising questions about transparency and potential conflicts of interest.

Atkins, who served at the SEC from 2002 to 2008, has been a vocal advocate for regulatory clarity in financial markets, including the cryptocurrency sector. However, lawmakers and regulators are now examining whether proper disclosures were made regarding financial assets linked to his wife.

The inquiry reflects broader concerns about ethics and accountability among financial regulators and policymakers. While Atkins has not been formally accused of wrongdoing, the situation highlights ongoing debates over financial transparency in government and regulatory agencies.

As the hearing unfolds, industry observers are closely watching for potential implications on SEC policies and oversight practices. The outcome could influence future regulatory discussions, particularly in areas where financial disclosures intersect with policymaking in traditional and digital asset markets.

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Brazil’s data watchdog upholds ban on World crypto payments

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Brazil’s data protection authority is ramping up its oversight of cryptocurrency payment platforms, reflecting growing concerns over data privacy and regulatory compliance in the digital asset sector. The move aligns with a broader global trend of increased scrutiny on crypto transactions.

The regulatory focus comes as crypto payments gain mainstream adoption in Brazil, with businesses and consumers increasingly using digital assets for everyday transactions. Authorities aim to ensure that companies handling crypto payments comply with data protection laws, safeguarding user information against misuse and security breaches.

This initiative follows global regulatory efforts to address concerns over illicit financial activities and privacy risks associated with digital currencies. While Brazil has been a leader in Latin America’s crypto adoption, regulators are working to balance innovation with consumer protection.

Industry experts believe that stricter oversight could enhance trust in the crypto sector, attracting institutional players while ensuring compliance with international standards. As regulations evolve, businesses operating in the crypto payments space will need to adapt to the changing legal landscape to maintain seamless operations.

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