The advancement of these crypto measures could significantly influence the regulatory landscape and future innovation in the digital currency sector. The post US House officially passes rule to advance GENIUS, Clarity, and Anti- CBDC acts after longest vote in chamber history appeared first on Crypto Briefing.

US House officially passes rule to advance GENIUS, Clarity, and Anti-CBDC acts after longest vote in chamber history

Memecoin market cap hits $72B in July, driven by the Bonk memecoin’s 72% surge 
and LetsBonk launchpad’s rise.

Memecoin market cap grows 29% in July

After rising rapidly over the weekend to hit new all-time highs, the Bitcoin 
price seems to have hit a brick wall above $120,000, sparking a correction. 
While this is expected to be a short correction, a notable development 
involving an 8-year trendline that has marked the top of previous cycles has 
emerged. If this trendline resistance holds and Bitcoin fails to break it, 
then it could mean that the top is in, and what usually follows is a drawn-out 
bear market. 8-Year Trendline Suggests Bitcoin Top Is In Crypto analyst 
MartyBoots, in an analysis on TradingView, caught a test of a an 8-year 
trendline which began back in the 2017-2018 cycle, marking the top of multiple 
bull markets. This trendline continued into the next major bull market and in 
the 2020-2021 bull market, the trendline once again marked the cycle top, with 
Bitcoin peaking at $69,000. Related Reading: This Analyst Predicted Bitcoin’s 
Rally To $120,000 Months Ago, Here’s The Rest Of The Forecast Presently, the 
Bitcoin price has once again come in contact with this trendline, and the 
rejection from here does suggest that this trendline could be the real deal. 
After hitting above $123,000, Bitcoin was promptly pushed back downward from 
this level as sell-offs and profit-taking became the order of the day. For 
this trend to be complete, though, there are a number of things that would 
need to happen first. For example, the analyst explains that investors should 
watch for the weakly RSI divergence turning bullish. Additionally, a decline 
in volume and more rejection wicks for Bitcoin would be confirmation that the 
price has topped. Marty also explained that the price touching this trendline 
for a third time increases the odds of it actually playing out the same way it 
has in the past. If this trendline does mark the top once again, then it could 
signal the start of another bear market. As the analyst explains, a top marked 
by this trendline has in the past “triggered multi-month correction and Bear 
Markets.” Still A Chance For Bullish Continuation The test of this trendline 
does not necessarily mean that the Bitcoin price has to top at this level, 
because there is still a chance of bullish continuation. As the analyst 
explains, a decisive break above the trendline would turn this level into 
support and trigger further upside. Related Reading: Ethereum Forms ‘Pure Cup 
And Handle’ Pattern After Hitting $3,000, Analysts Set New Targets In addition 
to this, there is also a lot of buying pressure on the Bitcoin price despite 
the profit-taking. More importantly is the fact that very large orders await 
at the $114,000 level. This shows a lot of demand for BTC, something that 
could drive the price upward as the cost basis for investors remains on the 
rise. Nevertheless, the analyst advises caution at this level until there is a 
confirmation either way. “Risk-management alert: consider tightening stops, 
reducing leverage, or hedging until trendline fate is resolved,” Marty said in 
closing. Featured image from Dall.E, chart from TradingView.com

Bitcoin Touches 8-Year Trendline That Marked Previous Cycle Tops

Polkadot co-founder Gavin Wood unveils plans for the ecosystem&#8217;s native 
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on July 17, Wood discussed…

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Ripple has teamed up with UAE-based Ctrl Alt to support Dubai’s push to 
digitize real estate. The partnership will see Ctrl Alt — the first VASP in 
Dubai authorized to provide issuer-related virtual asset services under VARA — 
leverage Ripple’s…

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A giant Bitcoin whale with a decade-old stash has started moving its holdings, 
fueling speculation about a potential sell-off. According to blockchain 
tracker Lookonchain, the whale, which resurfaced earlier this month after 14 
years of dormancy, has shifted nearly half…