Looking at the winners and losers of the past week clearly shows that traders endured some serious heat as the total crypto market capitalization dropped by 12.7% when Bitcoin fell to $41,000. This sharp downside move knocked the figure from $2.37 trillion to $1.92 trillion on Dec. 3 and a total of $2 billion long future contracts were liquidated. Bitcoin (BTC) price retraced 14.6% over the past week, effectively underperforming the broader altcoin market. Part of this unusual movement can be explained by the performance seen in decentralized applications which held up better than most of the market. Data shows …

Do you remember the time when a fleeting mention of Bitcoin, stablecoins, or even central bank digital currencies by a top-ranking government official was considered major news all over the cryptoverse? Feels like It’s been forever. As we find ourselves in the midst of digital assets’ global mainstreaming, such statements come in droves every day and are expected. Randal Quarles, an outgoing member of the U.S. Fed’s board of governors, warned against overregulating stablecoins and even rebuked some of the conclusions that the President’s Working Group on Financial Markets had articulated in its November report. Treasury Secretary Janet Yellen admitted …

Kotak, India’s leading private bank, has reportedly become the first to open its gates to the crypto community, as per a report published in Economic Times. The banking giant announced it has partnered with the leading crypto exchange WazirX, which would allow traders to use the banking services to liquidate their funds. The partnership between the two parties is being seen as a major breakthrough for the crypto community given Indian banks have frozen crypto payments and withdrawals for the past eight months. "WazirX has opened an account with Kotak which can be used to receive and pay money to …

Bahamian-based cryptocurrency exchange FTX released a list of principles and proposals to help policymakers build the regulatory framework. The policy recommends the market-structure choices made by several leading crypto exchanges and suggests its implementation across all jurisdictions. FTX shared the “FTX’ s Key Principles for Market Regulation” blog after Maxine Waters, the chair of the House Committee on Financial Services, invited several CEOs of major crypto firms to testify on the topic of digital assets and the future of finance. Out of the 10 key principles, one of the recommendations calls for an alternative regulatory approach that proposes a unified …

Back in August, there were some dire warnings about what the Biden Administration’s proposed infrastructure bill might do to the cryptocurrency and blockchain sector by driving crypto miners out of the United States, crippling America's leadership role, etc. In response, the crypto industry mobilized a full-court-lobbying press on lawmakers. However, it was too late to excise the troubling digital-asset language, and, in November, the infrastructure bill was signed into law. The good news is that the infrastructure law won’t take effect until January 2024, which allows lots of time to patch up its shortcomings. The downside is that its worrisome …

According to reports from local media, the Indian government will not move for an outright ban on crypto and will instead regulate the sector. On Nov. 23, Cointelegraph reported that the Indian government was considering a bill proposing the creation of an official digital currency while imposing a ban on all “private” cryptocurrencies. The news sparked panic selling on local crypto exchange WazirX the following day, and the vague wording on the bill and lack of clarification from the government have since left many onlookers divided on the prospects for crypto in India. But Indian news outlet NDTV reported on …

Bitcoin (BTC) price is down this week, and naturally, bears will always find some reversal signal whenever the price shows strength, such as the 8% gain on Nov. 28. Of course, technical analysis is not an exact science, so there is a margin for interpretation and most traders look at multiple timeframes to find a narrative that suits their bias. Currently, BTC price is in a descending channel that started on Oct. 31, and if this pattern plays out, Bitcoin could drop to $50,000 in the short term. Cryptocurrency markets crashed on Nov. 26 after concern over a new COVID-19 …

Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown: Bitcoin (BTC) has had the shallowest correction of the year so far, having fallen just 17% from its all-time high. Does this mean we may be on track for a Santa Claus rally in December? PlanB’s popular floor model failed to hit its November closing target. This is the first miss for the model in its 10-year history. The creator isn’t giving …

The creator of India’s crypto bill, former Finance Minister Subhash Garg, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation while highlighting the enormous potential of cryptocurrencies and blockchain technology. The Parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban's scope. As Cointelegraph reported, an episode of panic selling among Indian investors followed the announcement. In an interview with local news channel News 18, Garg clarified: “[The description of the crypto bill] was perhaps a mistake. It is misleading to say that private cryptocurrencies will be banned …

Are big emerging economies more likely to gravitate toward blanket crypto bans? China has set a precedent, and now it appears as if India could be weighing a similar policy direction: A bill containing a proposed ban on all “private cryptocurrencies” will go in front of the nation’s parliament sometime this winter. The measure is designed to clear the way for India’s central bank to advance its digital currency agenda. Whether a sovereign central bank digital currency can coexist with a thriving market of “private” cryptos will be one of the central questions of the looming CBDC age, and it …

Deribit exchange is the absolute leader in the Bitcoin (BTC) options markets and on Nov. 24 the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.” We've seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive. In the short term, this expiry has a Max pain of $58k. https://t.co/jhpT1riX3g — Deribit (@DeribitExchange) November 24, 2021 Bitcoin price appears to following a descending channel since Nov. 9, so a “bearish” signal …

Bitcoin’s (BTC) price action hasn’t been bullish despite the $69,000 all-time high on Nov. 10. Some argue that that descending channel formed 40 days ago is the dominant trend, and $56,000 marks its current resistance. Such bearishness follows scrutiny from United States regulators, after a Nov. 1 report from the President’s Working Group on Financial Markets suggested that stablecoin issuers in the U.S. should be subject to “appropriate federal oversight,” similar to banks and savings associations. On Nov. 12, the Bitcoin-backed exchange-traded fund (ETF) request was rejected by the U.S. Securities and Exchange Commission. To justify the denial, the regulator …