Category: News

Ethereum keeps its slow crawl away from the $1,500 pits it touched not long ago but now the asset tests a serious resistance zone blocking its recovery path. 🖤 Breaking past this spot could unlock a surge toward $2,000 or higher yet right now that goal feels distant.

Will Ethereum Shatter The $1,800 Wall? 🌑

With ETH hovering near $1,800 analyst Ali Martinez flagged it as the crucial bullish key that must break clean. In a post on X he noted how the 0.8 MVRV Pricing Band lines up there as resistance. He called for a daily close above this level then a hold as support to strengthen the bullish case and open a path toward Ethereum’s Realized Price at $2,245. The altcoin has not crossed $2,000 in a month and its last visit to the Realized Price happened back in mid-May.
Martinez doubled down on the $1,800 importance since the TD Sequential resistance trendline also sits right there. “A break above both $1,796 and $1,816 could trigger a bullish breakout. From a technical perspective such a move would also increase the probability that ETH breaks through the top of the channel at $1,844 and begins marching toward the $2,245 Realized Price.”
Fellow analyst Ted Pillows echoed the view after ETH recently tested the $1,820-$1,850 resistance only to get pushed back. The bright side is it still trades above $1,750 and Pillows expects a push to $2,000 once that zone gets reclaimed. Check the call.

The Odd Business Cycle Whisper 🕷️

Michaël van de Poppe highlighted an unexpected correlation hinting at a stronger Ethereum rally ahead. He pointed out how the business cycle often shows through the copper/gold chart a pattern clear in the 2017 and 2021 cycles yet absent in 2024 so far. He sees that precious metals chart as a strong market momentum signal after its recent massive upward break and flip of a 4-year downtrend into an uptrend. ✨
“Usually ETH follows through although with some lag as there needs to be more confidence in the markets. A matter of time until the crypto markets are finally picking up momentum.”

Just another echo from the void by iconofsin.eth 💖

Strategy just dumped 3588 BTC for roughly $216 million 🖤 The price dipped under $61500 for a moment before snapping back fast.

Why Dumping BTC Could Strengthen The Setup 🌑

Grayscale research head Zach Pandl sees this as a smart move that might give Bitcoin a sturdier floor after the initial shock in their update. Strategy still sits with about $52 billion in BTC against only $7 billion in debt and keeps annual dividends under $2 billion so the balance feels solid overall. Late May saw dollar reserves fall to $870 million which covered dividends for around six months and sparked some worry about the next steps.

Bitcoin Holds Firm Despite The Noise 🕯️

By late June the firm rolled out a fresh framework to issue shares or sell BTC when needed to protect reserves. July 6 confirmed another sale yet reserves climbed to $2.55 billion for 17 months of coverage and STRC price action shows investors are warming up to these calls. Market chatter stayed heavy on the sale fears but Bitcoin already defended the $60000 zone in a quick relief bounce after that overly bearish close to June.

Unexpected relief rally after $BTC defended $60K once again

— Santiment (@SantimentData) July 2024

Just another echo from the void by iconofsin.eth 💖

ZachXBT pointed out how copycats launched several meme coins using his name and image on different chains over the past week to ride the recent buzz. He made it clear he had zero part in any of those tokens and stuck to his rule of never backing or creating meme coins himself.

Impostor Tokens Rising 🕸️

In his latest update ZachXBT shared that every token hitting his donation wallet got sold off right away with all money going to good causes instead of staying personal. Around 41000 USDT went through The Giving Block for Venezuela earthquake help like 25000 USDT to GiveDirectly on July 6 and 5000 USDT to Direct Relief the same day plus 153 SOL worth about 11000 to Direct Relief on June 28. Check the details here 🖤 He built his rep by calling out scams in DeFi and beyond while always staying away from meme plays. Back in April he noted he never hyped deployed or shared any meme coin addresses.

Latest Probes and Exposés ⚰️

ZachXBT took aim at MemeCore lately questioning its huge valuation and why over 90 percent of the supply sat with insiders while exchanges still listed it despite warnings. He raised similar flags on SIREN and LAB tokens earlier this year too. 💀 Recent X posts from community voices like Ovie Faruq praised how ZachXBT protects retail from bad actors in the space. ✨ View the full tweet embed here See this one too

Just another echo from the void by iconofsin.eth 💖

Coinbase CEO Brian Armstrong revealed the exchange probes an AI glitch that fired off eerie breaking news alerts claiming Norway snatched a 3-2 victory over Brazil in the FIFA World Cup well before kickoff.
The alert even credited Manchester City forward Erling Haaland with a brace that propelled the Vikings forward.
Yet the prediction platform page noted weather delays while Norway later prevailed with a fresh scoreline and Haaland netting twice anyway.

AI Glitch Sparks Alarm In Prediction Markets 🕷️

Relay Digital managing partner Jay Drain Jr first flagged the chaos by sharing a post on X noting how the Coinbase AI was hallucinating results for a World Cup game that has not even been played yet.
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Some time later Coinbase chief Brian Armstrong replied insisting a full review had launched.
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The firm head of consumer and business products Max Branzburg then confirmed the incorrect story got fixed with added safeguards ahead.
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It is awesome to see the power of AI-enabled 24/7 insights for trading but obviously still need to tune it to address these types of issues.
And hey it turns out Norway did win and Haaland did score 2 goals so maybe the AI knew something we did not.

Trader Bleeds Millions On World Cup Wagers 🦇

World Cup fever pushed trading volumes on leading prediction markets from around $65 million in early June to a high of $5.6 billion toward the end of that month.
One Polymarket user highlighted on June 6 by blockchain analytics platform Lookonchain reportedly lost $11.63 million during a 10-day betting spree on World Cup markets.
According to Polymarket records Coldsway placed bets on 15 soccer markets and traded a total of $48.19 million.
They counted wins on only 4 positions while 11 closed at a complete loss putting their win rate at 26.7 percent.
The trader biggest winning position generated $1.12 million after placing a $689318 bet that Australia and Egypt would finish in a draw.
They also made $962940 from a $1.48 million position predicting Egypt would not win the July 3 fixture.
However several unsuccessful million-dollar wagers outweighed all profits Coldsway made with the largest single loss reaching $4.95 million as a result of Morocco 3-0 win against Canada on July 4.
They also lost $3.10 million on a prediction that Canada would not beat South Africa on June 28.

Just another echo from the void by iconofsin.eth 💖