Cryptonews

The Blockchain Recovery Investment Consortium (BRIC), an outfit whose very name suggests both ambition and, let’s be frank, a rather unfortunate acronym, secured this paltry sum-a band-aid on the gaping wound left by Celsius’s spectacular implosion. The lawsuit, filed in August of last year (2024, for those keeping track of the relentless march of digital time), concerned those wonderfully obscure matters of “collateral transfers” and “liquidations.” Such clinical terms for such chaotic events! 🕵️

Bitcoin, ever the optimist, clawed its way back from the depths of $112,000, scaling past $112,500 and $113,200 like a prisoner tunneling toward daylight-only to find another wall.

According to our mischievous friend COINDREAM, it appears the erstwhile sparkle in the traders’ eyes has dimmed markedly post last week’s scandalous market plummet. This affair, I confess, felt as theatrical as one of my own tragedies.

Not presently, dear reader, though one supposes they might deign to consider it later-should the risk not offend their delicate sensibilities too grievously.

But wait, fear not, dear traders, for Binance, the heroic knight in shining armor (at least, that’s what it wants us to believe), has come to the rescue. On October 14, the exchange unveiled what it called “The $400 Million Together Initiative” in a valiant attempt to restore order to the chaotic, freefalling world of crypto. This masterstroke of a plan involves distributing $300 million in token vouchers-yes, you heard it right, vouchers!-ranging from $4 to $6,000, to the very same traders who saw their fortunes vaporized.

The project has somehow scraped together $902,686 so far, which is just enough to buy a decent-sized doghouse-or maybe a few extra zeros on a spreadsheet. 📊 Fundraising is still chugging along, even though the rest of the crypto market is currently whimpering in a corner. 🐻

Crypto markets posted big declines on Tuesday, but signs of relief from the Federal Reserve helped prices bounce off their worst levels. A late day Truth Social post from President Trump reminded bulls that he has the power to reverse rising asset prices at any time. 🧠💸

As institutional investors reduce participation, spot market participants have also trimmed their holdings. This could result in continued consolidation or a definitive breakdown of the critical $4,000 resistance level around which the coin currently trades. 🧠📉

Poor Ethereum, the second-hottest date in the crypto ball, took a nosedive so dramatic it made your last breakup look like a polite handshake. 💸✨ Prices plummeted, technical support levels were shattered, and the derivatives market? Well, it went colder than your ex’s texts. ❄️

Veteran chartist Peter Brandt, whose trading experience spans five decades (yes, he’s been around long enough to remember the dinosaurs), has pointed to XRP’s multi-year logarithmic chart and dubbed it a “textbook breakout” from a descending channel that dates back to 2014. Brandt, who likely has more chart patterns in his sleep than most of us see in a lifetime, compared this structure to the explosive commodity bull runs of the past. This is no regular breakout; it’s a breakout with a capital B!