Bitcoin has crashed toward $50,000 per bitcoin, diving after Federal Reserve chair Jerome Powell warned of a "critical period." This sharp decline has seen the bitcoin price lose around 25% over the last month. The combined market capitalization of bitcoin, ethereum, XRP, solana, and other cryptocurrencies has approached $2 trillion for the first time since early February, down from nearly $3 trillion in March.
This comes on the heels of a legendary tech billionaire speculating that bitcoin could replace the U.S. dollar. Additionally, the collapsed bitcoin exchange Mt. Gox has begun moving what could be a tidal wave of bitcoin. "On July 5, 2024, the [Mt. Gox] rehabilitation trustee made repayments in bitcoin and bitcoin cash to some of the rehabilitation creditors through a part of the designated cryptocurrency exchanges etc. in accordance with the rehabilitation plan," read a letter posted on the Mt. Gox website. However, the text was quickly removed, sparking further questions and uncertainty.
Despite the bitcoin price crash finding a floor, with the broader crypto market rebounding slightly after its steep sell-off this week, traders and analysts remain fearful. The widely-followed Crypto Fear & Greed Index, created by data site Alternative.me, has dropped to its lowest level since January 2023. This drop came just after the bitcoin price had crashed to $17,000 following the FTX crypto exchange implosion, and it is now teetering on the verge of "extreme fear."
"The crypto market cap has fallen back below $2 trillion, accelerating its decline and losing over 8%, while many altcoins have suffered double-digit losses within the last 24 hours," Alex Kuptsikevich, FxPro senior market analyst, said in emailed comments, calling the bitcoin price crash "terrifying." He added, "Bitcoin's 200-day moving average failed to act as support, and we saw an acceleration in the sell-off after a break below this line," predicting that the ethereum price situation "looks like a pause before a new downward impulse that could take the price back to $2,300."
Rachel Lin, the chief executive of decentralized exchange SynFutures, commented, "The direction of bitcoin in the coming days will be determined by the selling pressure from Mt. Gox users." She explained, "The market expects most Mt. Gox users to dump their tokens, but we might see a bounce back if the selling is lower than anticipated. On the other hand, if there is enough selling to push the price lower, we might be looking at the $50,000 level soon."
Lin warned that the "crucial levels" for bitcoin and ethereum were $60,000 and $3,350, respectively—both of which have now been "decisively" broken. "As expected, the fall in bitcoin has dragged down all the other assets," Lin said. "Ethereum is down nearly 9% over the week, and most memecoins are down 10% to 20%."

#bitcoincrash #Bitcoin❗ #News
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In an era marked by a global housing crisis, Owners Unity emerges with a mission to revolutionize the real estate market through innovative, decentralized finance solutions. Our aim is to tackle one of the most pressing issues facing millions worldwide: the unaffordability of housing.

The Housing Crisis: A Global Challenge

Across continents, house prices are skyrocketing, far outpacing wage growth and rendering homeownership a distant dream for many. The numbers speak volumes:

- In the UK, the Office of National Statistics revealed that as of 2021, the average house price is 65 times higher than in 1970, while the average wage has only increased 36 times. House prices soared by 10.2% in 2021 alone, the highest annual growth rate since 2007.
- In the USA, the average price of real estate is now 132.5% of the average household salary . A report by Bank Rate highlighted that the monthly mortgage rate for a $400,000 home increased by $580 between January 2022 and July 2023 due to rising interest rates.

This unsustainable trend is pushing countless families towards financial distress and homelessness.

Owners Unity: A Solution for All

Owners Unity is not just a project; it’s a movement aimed at ensuring that everyone has the right to a decent standard of living and a decent home. By merging decentralized finance with real estate, we aspire to provide affordable housing solutions on a global scale.

Core Innovations

Owners Unity Payment Program: This program replaces traditional mortgage systems with a more equitable affordability check, ensuring that people who can afford rent are not denied the opportunity to buy a home.

Lower Entry Deposits: By reducing the required deposit amounts, we enable buyers to purchase homes without years of savings, facilitating quicker access to homeownership.

Reduced Payment Terms: Through our rewards system and unique tokenomics, we aim to cut down the standard 30-year mortgage payment period significantly.

The OU Umbrella: A Collaborative Ecosystem

The Owners Unity Umbrella brings blockchain technology into the mainstream through a family of products united by shared values. By leveraging the power of blockchain and cryptocurrency in novel ways, we aim to transform business practices, returning power to the end user and fostering a fairer distribution of wealth.

Under the OU Umbrella, partner projects can collaborate, share best practices, and gain compliance assistance across legislative regions. This synergy enhances product innovation and adoption, driving us closer to our goal of greater housing accessibility.

A Call to Action

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Join us in breaking the mould and creating generational wealth for our early adopters. It’s time to get OUT and be part of a transformative journey towards a more equitable and transparent future in real estate.

Owners Unity: Revolutionizing Housing, One Home at a Time.

Note: This is an sponsored Article. No financial advice.
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Bitcoin is currently poised for a potential 1-hour (1h) correction in the short term. After reaching a high of 66,998, it has now fallen below 65,800. This movement indicates the possibility of a short-term correction, with critical support around 65,000.

Ethereum has seen a rebound above 3,600 but failed to break through 3,700. A 1h level pullback appears likely, with key support levels at 3,450 or 3,400.

Bitcoin (BTC) Analysis

Current Situation:
- Bitcoin is undergoing a new 1h level pullback, starting from 66,998.
- The main support level to monitor is 65,000.

Short-term Outlook:
- If Bitcoin bounces off 65,000, a quick recovery could ensue.
- A 4h closing line falling below 65,000 without immediate recovery might signal a new daily pullback, potentially bringing Bitcoin down to the 56,000–59,000 range.

4-Hour and Daily Projections:
- Holding at 65,000 could allow Bitcoin to build a 4h level base, facilitating upward movement.
- Should 65,000 hold, the next 4h rebound might break through 73,777.
- If 65,000 fails to hold, rebounds might be limited to 71,500.

15-Minute Analysis:
- Initial support to watch is at 65,300.
- A 15-minute level rebound may face resistance around 66,200.
- A subsequent 15-minute pullback could test 65,000 again.

Ethereum (ETH) Analysis

Current Situation:
- Ethereum's upward daily structure suggests it should surpass 4,000.
- A new 4h rise is likely, aiming to break through 4,000.

Short-term Projections:
- The anticipated 1h pullback has support levels at 3,450 and 3,400.
- Ethereum is expected to perform well this week.

Scenarios to Watch:

1. Synchronized Movement:
- Bitcoin remains above 65,000, forming a 4h base, and continues its daily rise.
- Ethereum follows with a 4h rise to test 4,100.

2. Divergent Movement:
- Bitcoin drops below 65,000, leading to a new daily decline.
- Ethereum continues its daily rise independently, targeting higher levels while Bitcoin experiences a 4h rebound within its daily pullback.

Trend Directions:

- Weekly Level: Upward, targeting $180,000.
- Daily Level: Upward, with a revised target around $80,000.
- 4-Hour Level: Downward, nearing 65,000 support; holding this could lead to a rebound.
- 1-Hour Level: Downward, focusing on the 65,000 support.
- 15-Minute Level: Downward, with an expected short-term rebound followed by another pullback.

Conclusion:

Bitcoin's short-term trajectory is contingent on the 65,000 support level. A rebound from this point could trigger significant upward movement, while failing to hold might result in a deeper correction. Ethereum's outlook remains strong, with potential for continued gains. Traders should closely monitor these critical support and resistance levels for informed decision-making.
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#analysis #TrendingPredictions #bullrun2024📈📈

In a seismic shift within global finance, Saudi Arabia has opted not to renew its longstanding petrodollar agreement with the United States, setting the stage for significant changes in international trade and financial markets. For over 50 years, the petrodollar system has mandated that oil be sold exclusively in US dollars, providing substantial support to the dollar's global dominance. However, this era appears to be drawing to a close.
Saudi Arabia's decision marks a strategic move to diversify its payment methods, embracing cryptocurrencies and other major global currencies such as the euro, yen, and yuan. This shift aligns with the kingdom's broader economic vision of reducing its dependence on the US dollar, reflecting a pivotal transformation in the global financial landscape.
The End of the Petrodollar Era
The petrodollar system has been a cornerstone of international trade since the 1970s, ensuring the dominance of the US dollar in global markets. By requiring that oil transactions be conducted in dollars, the system has created a consistent demand for the currency, bolstering its value and facilitating the United States' ability to finance its deficits and maintain economic influence.
Cryptocurrencies and the Future of Global Trade
Arabia's decision to move away from this model is not merely a political maneuver but a calculated economic strategy. This move is part of the kingdom's broader efforts to modernize its economy, reduce reliance on oil revenues, and embrace new technologies. The introduction of alternative payment methods, particularly cryptocurrencies, is a significant step in this direction Cryptocurrencies and the Future of Global Trade
Saudi Arabia's inclusion in Project mBridge, a China-led cross-border central bank digital currency (CBDC) trial, underscores its commitment to exploring digital currencies for international trade. This initiative aims to facilitate more efficient and secure cross-border payments, positioning cryptocurrencies and CBDCs as viable alternatives to traditional fiat currencies.
As Saudi Arabia and other nations adopt cryptocurrencies for trade, Bitcoin stands to gain immensely. Bitcoin's decentralized nature and limited supply make it an attractive asset in times of economic uncertainty, such as periods of high inflation and currency depreciation. With the potential for increased dollar printing and subsequent inflation following the end of the petrodollar agreement, Bitcoin's appeal as a hedge against inflation is likely to grow.
Impact on the US Dollar
The termination of the petrodollar agreement could accelerate the "de-dollarization" trend already underway globally. Countries are increasingly seeking to reduce their reliance on the US dollar, driven by geopolitical tensions and the desire for greater economic autonomy. Saudi Arabia's move could inspire other nations to explore similar strategies, further eroding the dollar's dominance.
Conclusion
Crypto analysts highlight that an increase in dollar printing, a probable consequence of diminished global demand for the dollar, could lead to higher inflation rates. In such a scenario, Bitcoin, with its capped supply of 21 million coins, offers a hedge against inflation and currency depreciation. Investors seeking to protect their wealth might turn to Bitcoin, driving its value higher. Conclusion
Saudi Arabia's decision to end the petrodollar agreement with the United States represents a watershed moment in global finance. By diversifying payment methods and embracing cryptocurrencies, Saudi Arabia is leading the charge towards a more multipolar financial system. This shift not only diminishes the US dollar's dominance but also sets the stage for Bitcoin and other cryptocurrencies to play a more significant role in international trade and investment.
As the world moves towards a new financial order, the implications for Bitcoin and the broader cryptocurrency market are profound. Investors and policymakers alike will be closely watching how these developments unfold, as the end of the petrodollar era could mark the beginning of a new chapter for global finance.

#bitcoin #BreakingCryptoNews #ETF
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In the ever-evolving world of cryptocurrency trading, recent developments have rocked the Indian market. Binance, a prominent player in the global crypto exchange arena, has announced the cessation of cash payment options for peer-to-peer (P2P) trades conducted in rupees within India. This move comes amidst a turbulent regulatory landscape, with the Indian government clamping down on offshore crypto platforms due to concerns over money laundering and tax evasion.
Until recently, Binance provided an "escrow service" to Indian crypto traders, facilitating transactions in local currency, thereby enabling them to bypass heavy government taxes on crypto trades. However, with the discontinuation of the cash payment service, traders are left to navigate a new terrain.
The decision by Binance reflects the broader regulatory challenges faced by crypto exchanges operating in India. The government's crackdown on offshore platforms, including Binance, Kucoin, and OKX, highlights concerns regarding compliance with anti-money laundering norms and tax regulations. Notably, the Ministry of Electronics and Information Technology directed Apple to remove these platforms from the iOS Store, signaling a concerted effort to regulate the crypto space.
In response to these regulatory pressures, domestic exchanges in India are witnessing a resurgence. The crackdown on offshore platforms has inadvertently bolstered the position of homegrown exchanges, with traders flocking to these platforms in search of stability and regulatory compliance. CoinDCX, for instance, has reported a staggering 2,000% week-on-week surge in registrations, indicative of a shifting tide in the Indian crypto landscape.
Moreover, CoinSwitch has emerged as the largest crypto exchange in India, surpassing WazirX in user numbers. This surge in activity underscores the growing interest and participation in crypto trading within the country. Notably, India ranks among the top five countries in P2P crypto trading, with a significant portion of traders aged under 35, highlighting the demographic shift driving this trend.
While Binance plans its comeback to India after paying a hefty penalty, the regulatory environment remains uncertain. As the government seeks to enforce stricter regulations and oversight, the crypto community must adapt to a new era of compliance and accountability. In navigating these challenges, both traders and exchanges alike must remain vigilant and proactive in adhering to regulatory requirements, ensuring a sustainable and secure ecosystem for cryptocurrency trading in India.

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