From a technical perspective, the current daily chart shows a continuous price decline, forming a series of bearish candlesticks, indicating an overall weak trend. On the hourly chart, the price has been consolidating after a pullback from its highs, with the current candlestick pattern within a relatively narrow trading range and no clear reversal signal. The hourly MACD indicator shows both the DIF and DEA lines are negative and trending downwards, with the MACD histogram showing expanding green bars, indicating that bearish forces are dominant. The hourly EMA (7, 30, and 120 moving averages) are in a bearish alignment, with the price trading below the EMA7, suggesting a downward trend. The daily EMA also shows a bearish alignment, further confirming the overall weakness. Therefore, the recommended strategy remains to sell on rallies.
Major mining stocks dropped 20%–50% this week, erasing billions in value as the sector continued to lag Bitcoin’s latest pullback.
Publicly traded Bitcoin mining companies had a tough week, with nearly every major miner posting double-digit declines as the sector sharply underperformed Bitcoin itself.
A sharp liquidity crunch sent bitcoin and altcoins plunging, triggering over a billion dollars in derivatives liquidations as traders brace for a potential trend reversal.
Roughly half the liquidations came from bitcoin positions, with the rest spread across altcoins as selling pressure built up.
ETH dropped more than 9% over 24 hours while AAVE, JUP and SUI posted double-digit losses. Many tokens slumped to lows not seen for months.
Zcash and Monero rallied, with ZEC now up more than 1,000% since August in a striking divergence from the broader market.
U.S. authorities secured several criminal convictions and gathered another $15 million in proceeds from North Korean crypto heists, the Justice Department said.
Prosecutors and investigators in the U.S. Department of Justice rounded up another batch of convictions and crypto seizures in its ongoing pursuit of bad actors from North Korea.
The latest seizure of $15 million in USDT adds to other recent digital asset confiscations from U.S. authorities, raising questions about how the funds may relate to the U.S. plans to establish crypto reserves.
Daily Chart: The price has fallen for three consecutive days, with all Bollinger Bands trending downwards. The KDJ indicator has formed a death cross and continues to diverge downwards. The MACD indicator has confirmed a second death cross, indicating a strong downtrend. As mentioned yesterday, a further pullback to lower levels was expected, and last night’s price action confirmed this prediction.
4-Hour Chart: The market has also fallen for three consecutive days, with concentrated downward momentum. The Bollinger Bands are widening, and the current downtrend remains firm. Notably, the price did not break below the lower band after touching it, instead showing signs of stabilization. Intraday short-term trading is recommended, buying on dips
Technology executives and analysts expect artificial intelligence to generate hundreds of billions of dollars in value, yet forecasts for the market diverge significantly based on the underlying assumptions and metrics employed.
Thursday’s market has seen swings in various stocks based on news and other factors. Today, stocks like Disney (DIS) and Tesla (TSLA) are experiencing significant declines. Below are highlights of some of the biggest stock movers, from mega-caps to small caps.
Bitcoin is currently priced around $98,400, having broken below the $100,000 mark. The MACD histogram shows a renewed increase in red bars, and the DIF and DEA lines failed to converge intraday, forming a downward divergence again. This marks the second unsuccessful convergence after a death cross, indicating relatively strong bearish momentum. The KDJ lines are converging and diverging downwards, approaching oversold territory. The RSI lines are above 30 and continuing downwards. I believe the downside potential is not yet exhausted, and the strategy remains to sell on rallies.
The Bitcoin crash has caused significant losses for those investing in spot trading, but it has no impact on our futures trading. This is because we can short Bitcoin when the market is bearish, which is one of the advantages of futures trading. So far, all the Bitcoin signals I’ve shared have been correct.
U.S. federal agencies are establishing a Scam Center Strike Force to counter the industrial-scale efforts to swindle money via crypto transactions.
As U.S. authorities announced the latest large-scale action to target Southeast Asia scam operations draining billions in crypto from Americans, they said they’re standing up a new strike force to coordinate such efforts.
The development came as the Department of the Treasury issued wide-ranging sanctions against groups and individuals said to be involved in Burmese scam centers.
U.S. government agencies are cranking up the response to overseas scams that seek to trick people into sending crypto, with the Department of the Treasury announcing a Scam Center Strike Force on Wednesday even as it flagged its latest effort to target a Burmese operation that pursued Americans with fake investment schemes.
U.S. authorities, also including the Department of Justice, are standing up the strike force to go after so-called “pig butchering” often coordinated by massive organized-crime operations in places such as Burma, Cambodia, Laos and the Philippines. The newest case involved Treasury’s Office of Foreign Assets Control sanctioning armed groups, companies and individuals in Burma associated with the Democratic Karen Benevolent Army and scam centers said to be backed by Chinese criminal organizations.
The strike force, led by the U.S. Attorney for the District of Columbia, aims to take apart the transnational criminal enterprises in Southeast Asia that have stolen tens of billions from Americans — much of it going unreported. The practice sees teams of operatives — often forced into it via human trafficking — working at a factory scale to trick people into fraudulent investing or into sending funds to fake romantic partners.
“The Administration will keep using every tool we have to go after these cybercriminals — wherever they operate — and to protect American families from their exploitation,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence John Hurley, in a statement.
The strike force envisions tapping various parts of the federal government with oversight duties related to this area, including DOJ, the Treasury Department, the State Department and domestic law enforcement agencies.
“The scale is staggering,” said Ari Redbord, global head of policy and government affairs for TRM labs, of the global criminal enterprises involved in pig butchering. “The DOJ’s Scam Center Strike Force reflects a hard truth: no single agency can tackle this alone.”
In a similar vein, the DOJ has previously established a health care strike force and a trade-fraud task force.
Last month, U.S. authorities went after Prince Group, which was alleged to have run a Cambodia operation, with the DOJ taking what it said was its largest-ever seizure of 127,271 bitcoin. The action was coordinated between the DOJ and the Treasury.
In Burma, the development of the scam centers was tied by the U.S. authorities to others among the sanctioned entities, including Trans Asia International Holding Group Thailand Company Ltd. (Trans Asia), Troth Star Co. Ltd. (Troth Star) and Thai national Chamu Sawang. The sanctions accused them of being linked to Chinese organized crime, and authorities said the proceeds are going toward funding Burma’s civil war.
