The United States equity markets are attempting a recovery after weeks of relentless selling. Along similar lines, on-chain monitoring resource Material Indicators expects the crypto market to recover, but they anticipate Bitcoin (BTC) to spend some time in a range before “a real breakout.” The seven-day moving average of the on-chain transaction volume tracked by Glassnode hit a nine-month low on May 23. This suggests that Bitcoin’s lackluster price action in 2022 has led to reduced participation from traders. While signs of a short-term recovery are visible, a sustained recovery could be difficult because the macro conditions remain challenging. International …

Brad Garlinghouse, the CEO of cross-border payments company Ripple (XRP), spoke during a panel discussion Monday at the World Economic Forum in Davos, Switzerland. Garlinghouse, who also occupies a role as a member of the company’s board of directors, commented on a wide range of topics, most notably the current status of regulation in the United States versus G20 nations. Emphasising the prudent necessity for regulatory frameworks that serve integral principles of “clarity and certainty," Garlinghouse stated his belief that: “The overwhelming majority of people working within the crypto industry are good actors that want to do right by regulators. …

Bitcoin’s (BTC) tight correlation with the legacy markets continues to be a drag, especially as the United States equity markets remain in a firm bear trend. The Dow Jones Industrial Average is on track for its eighth consecutive negative week and the S&P 500 is close to plunging into the bear market territory. Celsius (CEL) CEO Alex Mashinsky believes that the short sellers on Wall Street are looking for any weakness in crypto companies to “short and destroy.” Mashinsky blamed “the Sharks of Wall Street” for bringing down Terra (LUNA) and trying to destabilize Tether (USDT) and Maker (MKR) and …

The United States Securities and Exchange Commission (SEC) is unable to confirm or deny if a video predominately featuring Bill Hinman actually features Bill Hinman. Bill Hinman, also known as William Hinman, is the former director of the SEC’s Division of Corporation Finance, and he has become a key factor in the long-running legal dispute between SEC vs Ripple Labs over alleged unregistered securities offerings via Ripple (XRP) tokens. Speaking at the 2018 Fintech Week Conference — while serving at the SEC — Hinman stated that the sale of Ether (ETH) did not constitute “securities transactions.” But, it seems as …

On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets. On-chain market intelligence firm Glassnode said that historically, Bitcoin (BTC) has bottomed out when the price breaks below the realized price. However, barring the 2019 to 2020 bear market, during previous bear cycles, Bitcoin’s price stayed below the realized price for anywhere between 114 to 299 days. This …

The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that the momentum remains strongly in favor of the bears. While the short-term sentiment remains bearish, institutional traders seem to be taking a longer-term approach on cryptocurrencies. Goldman Sachs and Barclays joined several other institutional investors in a $70 million Series A funding round by institutional trading platform Elwood Technologies. After the mayhem and volatility of the last week, crypto prices may attempt a relief rally in the next few days. It is unlikely …

Bitcoin (BTC) rebounded sharply after dropping near its realized price of $24,000 on May 12, suggesting some bulls went against the herd and bought the dip. According to on-chain analytics platform CryptoQuant, the exchange balances declined by more than 24,335 Bitcoin on May 11 and 12, indicating that bulls may have started bottom fishing. However, macro investor Raoul Pal is not confident that a bottom has been made. In an exclusive interview with Cointelegraph, Pal said that if equity markets witness a capitulation phase, crypto markets are also likely to plunge before forming a bottom. He anticipates the current bear …

The crisis with Terra’s stablecoin TerraUSD (UST) and the freefall in Terra’s LUNA token has dented crypto sentiment further. Although Terraform Labs CEO Do Kwon announced a relief plan, the community does not seem too hopeful about the revival. Another hindrance to a quick improvement in sentiment is that the United States Consumer Price Index soared 8.3% from a year ago, outpacing estimates by 0.2%. Although the numbers are a tad bit lower than March’s 8.5% print, the slow deceleration suggests no respite from more tightening by the U.S. Federal Reserve. Although the screen looks scary during capitulation, it also …

Global equity markets extended their decline on May 9 and the S&P 500 fell to a new 52-week low. Bitcoin (BTC) dropped to a new year-to-date low and most major altcoins extended their decline as they tracked the weakness in the stock markets. Data from blockchain analytics firm Glassnode shows that Bitcoin inflows to centralized exchanges have risen to more than 1.7 million coins, the highest since February. This suggests that whales may be dumping their holdings as they anticipate an extended downtrend. Several analysts expect the crypto markets to enter a capitulation phase which generally marks a bottom. Analyst …

SBI Motor Japan, a subsidiary of SBI Africa Co. Ltd., has announced that its customers can now make payments for used cars using Bitcoin (BTC) and Ripple (XRP). According to the announcement by SBI on Monday, the development marks the first time XRP cryptocurrency will be deployed on a cross-border e-commerce website in Japan. The BTC and XRP transactions will be settled on the SBI VC Trade Co. Ltd, a cryptocurrency exchange owned by the SBI Group. The platform, according to SBI, will use appropriate security methods in order to prevent money laundering and terrorist financing through crypto transactions. Furthermore, …

Investors across the world are waiting for the outcome of the Federal Open Market Committee meeting on May 4. Although markets expect a 50 basis point rate hike and an announcement by the Fed to start shrinking its balance sheet from June, it is difficult to predict how the markets will react to this trigger. Billionaire investor Paul Tudor Jones, in an interview with CNBC, said that the United States was entering “uncharted territory” as rates were being raised when the Financial Conditions Index was tightening. Tudor Jones warned investors that it was “going to be a very, very negative …

The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss what they believe are the top three most bullish coins one should take a closer look at. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the most bullish cryptocurrency right now. …