On May 23’s episode of The Market Report, analyst and writer Marcel Pechman discusses why Bitcoin (BTC) is stuck near $27,000 and how the macroeconomic scenario has become more critical than ever for an eventual breakout. Plus, the show dissects what United States President Joe Biden has been saying about crypto traders being wealthy tax cheaters. The first news article […]

A new feature on nonfungible token marketplace NFTrade allows collectors to purchase items on one network while paying on a separate one. The feature was created through an integration with cross-chain messaging protocol Rarimo, according to a May 23 announcement. The cross-chain purchases with NFTrade work on Ethereum, Polygon, Avalanche and BNB Chain. For example, if users want to buy […]

A major global securities watchdog, the International Organization of Securities Commissions (IOSCO), is working to help policymakers regulate cryptocurrency more effectively. IOSCO on May 23 released a set of crypto-related regulatory recommendations as part of a consultation report developed by the IOSCO Board’s Fintech Task Force. The report includes 18 policy recommendations to help global securities regulators address market integrity […]

A new bill mandating South Korean lawmakers and high-ranking government officials to declare their cryptocurrency holdings is expected to take effect within the next two months, said the floor leader of the country’s ruling party. On May 23, the Korean publication Yonhap News reported that People Power Party’s Representative Yun Jae-ok said the scheduled date for introducing the new crypto […]

Bitcoin price is struggling to clear the $27,500 resistance. BTC could attempt another increase if it stays above the $27,000 support. Bitcoin is still struggling to gain pace above the $27,400 and $27,500 levels. The price is trading above $27,000 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance near […]

Joe Biden takes a swipe at cryptocurrency traders and “wealthy tax cheats”, insisting they remain undeserving of tax cuts and similar benefits. The comments have drawn speculations among industry executives on the stance of the White House as budget negotiations resumed on May 22. Joe Biden reiterated his commitment to ensuring the country does not default on its debt to […]

Despite the prevailing bearish sentiment in the market last week, Ripple (XRP) bulls showcased their resilience by securing gains. XRP stood out among the top 20 cryptocurrency assets, recording impressive weekly gains of over 8%. Although the daily chart displayed a relatively modest increase of more than 1%, it was enough to maintain the bullish momentum. The technical outlook for […]

Binance has responded to a recent report from Reuters that accused the exchange of mismanaging customer funds.  Reuters’ report alleged that the crypto exchange commingled customer funds between 2020 and 2021.  The report accused Binance of breaching U.S. banking laws by mixing users’ funds with the company’s revenue.  The exchange has discarded the report as the work of a “desperate […]

Litecoin (LTC) price resumed its uptrend as it surpassed the moving average lines. Long-term forecast for the Litecoin price: bullish The cryptocurrency asset was previously trapped within the moving average lines, but it has now broken above them. The current price of LTC at the time of writing is $91. On a positive note, the current uptrend is rejected at […]