Is Bitcoin Heading For A Dip Ahead Of FOMC? Analyst Predicts Potential ‘Cascade Towards $55-58K’ Before Rebound

As the cryptocurrency market braces for the upcoming Federal Open Market Committee (FOMC) meeting, a prominent crypto analyst has made a bold prediction about Bitcoin‘s BTC/USD immediate future.

What Happened: Micahël van de Poppe, a well-known crypto analyst, took to social media platform X to share his forecast for Bitcoin’s immediate future. Van de Poppe anticipates a potential dip in the price of Bitcoin, with a possible range of $55,000 to $58,000 before a rebound.

Van de Poppe’s post read, “Monthly close approaching for #Bitcoin and FOMC day tomorrow. I think we’ll see that sweep beneath $60K and potentially cascade towards $55-58K from which we’re finding the low and…

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NEW: Tron Founder Justin Sun Predicts Major Growth in Ethereum Staking Sector

Justin Sun, the influential founder of the Tron blockchain, recently shed light on his significant involvement in the Ethereum ecosystem through a series of tweets. As a notable figure in cryptocurrency, Sun’s transactions have always attracted public attention. He clarified the flurry of large-scale transactions linked to him, attributing them to the burgeoning sector of crypto staking and restaking services. Sun emphasized the substantial growth and promising results in this niche, suggesting that specialized firms will soon emerge as independent entities, poised to revolutionize blockchain support worldwide.

Furthermore, Sun explained his role as merely an advisor in the staking domain, distancing himself from rumors of personal enrichment through Ethereum acquisitions. He envisions these restaking and staking ventures attracting major global investment firms, leading to significant support for blockchain users, developers, and the community at large. His optimistic outlook indicates a transformative phase where staking services could become crucial in empowering all blockchain protocols, marking a pivotal evolution in the cryptocurrency landscape.

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A look into Runes, a new Bitcoin token standard for issuing fungible tokens

The Runes protocol has gained a lot of interest in the Bitcoin community over the past few months. 

Runes is a fungible token standard designed by Casey Rodarmor, the creator of Ordinals. The protocol is designed to be an alternative to BRC-20, an experiment token standard for fungible tokens on Bitcoin.

The BRC-20 standard is built on ordinals, which means it stores information in a Bitcoin transaction’s witness data, in a similar way, runes data is stored in a data storage function called OP_RETURN, Bob Bodily, the founder of Bioniq, told Blockworks.

Read more: Motoko Sentinels gain traction despite ordinal volume decrease post-halving 

“Runes is a very elegant byte-efficient…

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Former Binance CEO Changpeng Zhao Sentenced To Four Months In Prison

Former Binance CEO Changpeng Zhao was sentenced Tuesday to four months in prison for his role in failing to establish an effective anti-money laundering (AML) program at the cryptocurrency exchange.

Judge Richard Jones of the U.S. District Court for the Western District of Washington delivered the sentence.

The prosecution had initially sought a three-year prison term for Zhao, citing serious lapses in regulatory compliance during his tenure at Binance.

Zhao’s defense argued for probation, emphasizing his lack of direct knowledge of the illicit activities allegedly conducted through the platform.

In the courtroom, Judge Jones acknowledged the absence of evidence directly linking Zhao to…

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