US government backing of Bitcoin could accelerate institutional adoption, but 
Strategy&#8217;s evolving approach highlights potential financial risks.
The post Strategy CEO Phong Le highlights US government support for Bitcoin 
appeared first on Crypto Briefing.

US government backing of Bitcoin could accelerate institutional adoption, but Strategy&#8217;s evolving approach highlights potential financial risks. The post Strategy CEO Phong Le highlights US government support for Bitcoin appeared first on Crypto Briefing.

Strategy CEO Phong Le highlights US government support for Bitcoin

Japan&#8217;s yen weakness could destabilize global markets, impacting digital 
assets and forcing policy shifts amid economic and political pressures.
The post Japan&#8217;s yen weakness raises concerns for policymakers despite record 
intervention spending appeared first on Crypto Briefing.

Japan&#8217;s yen weakness could destabilize global markets, impacting digital assets and forcing policy shifts amid economic and political pressures. The post Japan&#8217;s yen weakness raises concerns for policymakers despite record intervention spending appeared first on Crypto Briefing.

Japan’s yen weakness raises concerns for policymakers despite record intervention spending

A cryptocurrency analyst has pointed out how Dogecoin has returned to the 
support level of a Parallel Channel following the latest market decline. 
Dogecoin Is Potentially Following A Parallel Channel In a new post on X, 
analyst Ali Martinez has talked about how Dogecoin is currently trading with 
respect to a Parallel Channel. This type of technical analysis (TA) pattern 
forms whenever an asset moves between two parallel trendlines. Related 
Reading: Bitcoin Price Back At $63,000 Despite 1.2 Million BTC Absorption The 
upper level of the channel can act as a source of resistance, while the lower 
can provide support. Together, the trendlines keep the price locked between 
them. If either of these levels fails, then the price may see a continuation 
of the trend in the direction of the break. That is, a surge above the pattern 
can be a bullish signal, while a fall under it is a bearish one. Parallel 
Channels can be divided into a few different categories based on how the 
channel is oriented with respect to the graph axes. The &#8220;Ascending Channel&#8221; 
forms when the trendlines point up, while the &#8220;Descending Channel&#8221; involves a 
negative slope. In the context of the current topic, the third and simplest 
type is of interest: a Parallel Channel that&#8217;s parallel to the time-axis. This 
pattern corresponds to a phase of true sideways consolidation in the asset. 
Now, here is the chart shared by Martinez that shows the Parallel Channel that 
the daily Dogecoin price has been trading inside over the past few months: As 
displayed in the above graph, Dogecoin retested the upper level of the 
Parallel Channel in May, but ended up finding rejection. Since then, the 
memecoin has sharply moved down the width of the channel, reaching the bottom 
level. During this descent, the asset not only broke under the support of the 
midway level, but it also lost the 50-day moving average (MA). With DOGE now 
retesting the lowest trendline of the channel, it remains to be seen how the 
asset will develop in the coming days. &#8220;As long as this support holds, I think 
a recovery toward $0.1019 and $0.1156 remains likely,&#8221; noted the analyst. &#8220;A 
breakdown, however, could expose the next major supply zone near $0.067.&#8221; 
Related Reading: Bitcoin Traders Turn Most Fearful In 2 Months Following Crash 
While Dogecoin has still not broken out of its Parallel Channel, another 
altcoin, Cardano, has seen a different outcome. As Martinez has highlighted in 
another X post, the weekly ADA price has fallen under the support level of a 
long-term channel recently. Parallel Channel breakouts are often assumed to be 
of the same length as the width of the channel. Based on this, the analyst 
explained, &#8220;For Cardano $ADA, my targets are $0.11 and $0.051.&#8221; DOGE Price 
Following the latest continuation of the drawdown, Dogecoin has reached the 
$0.843 level. Featured image from Dall-E, chart from TradingView.com

A cryptocurrency analyst has pointed out how Dogecoin has returned to the support level of a Parallel Channel following the latest market decline. Dogecoin Is Potentially Following A Parallel Channel In a new post on X, analyst Ali Martinez has talked about how Dogecoin is currently trading with respect to a Parallel Channel. This type &#8230;

Dogecoin Tests Channel Floor Again: Breakdown Or Rebound?

The inflows suggest a potential shift in investor sentiment, indicating 
renewed interest and confidence in cryptocurrency ETFs.
The post Ethereum and Bitcoin spot ETFs snap lengthy outflow streaks with 
fresh inflows appeared first on Crypto Briefing.

The inflows suggest a potential shift in investor sentiment, indicating renewed interest and confidence in cryptocurrency ETFs. The post Ethereum and Bitcoin spot ETFs snap lengthy outflow streaks with fresh inflows appeared first on Crypto Briefing.

Ethereum and Bitcoin spot ETFs snap lengthy outflow streaks with fresh inflows

The investigation highlights the tension between emerging crypto platforms and 
traditional legal frameworks, potentially influencing global regulatory 
trends.
The post South Korean police investigate Polymarket users for illegal gambling 
appeared first on Crypto Briefing.

The investigation highlights the tension between emerging crypto platforms and traditional legal frameworks, potentially influencing global regulatory trends. The post South Korean police investigate Polymarket users for illegal gambling appeared first on Crypto Briefing.

South Korean police investigate Polymarket users for illegal gambling

Japan&#8217;s nuclear reactor rebuild plan highlights a strategic shift towards 
energy security and sustainability amid rising tech-driven power demands.
The post Japan proposes rebuilding nuclear reactors to meet rising power 
demand appeared first on Crypto Briefing.

Japan&#8217;s nuclear reactor rebuild plan highlights a strategic shift towards energy security and sustainability amid rising tech-driven power demands. The post Japan proposes rebuilding nuclear reactors to meet rising power demand appeared first on Crypto Briefing.

Strategy CEO Phong Le highlights US government support for Bitcoin

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