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The U.S. Securities and Exchange Commission has approved the accelerated conversion of the ten Bitwise crypto index fund into an exchange-traded fund (ETF). Despite the approval, a regulatory stay has delayed the ETF’s launch, drawing criticism from market analysts. SEC Approval Granted for Bitwise Crypto Index ETF But Still Faces Hold According to the SEC
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The post IRS vs. Coinbase: Supreme Court Asked to Reject Crypto Privacy Challenge appeared first on Coinpedia Fintech News
The U.S. government is urging the Supreme Court to dismiss a legal challenge from James Harper, a Coinbase user who claims the IRS violated his constitutional rights by accessing his crypto transaction data. The case touches on a broader debate: do Americans have a right to privacy when it comes to their crypto activity?
This dispute traces back to a 2016 investigation, where the IRS suspected widespread underreporting of crypto-related income. As part of its probe, the agency issued a court-approved summons to Coinbase, requesting information on high-volume users—including Harper.
The IRS has since argued that such records are crucial in enforcing tax compliance and identifying unreported gains in the fast-evolving crypto space.
Harper contends that the IRS violated his Fourth Amendment rights, which protect U.S. citizens from unreasonable searches and seizures. His legal team argues that obtaining detailed financial data without individual suspicion constitutes government overreach into personal digital finance.
Legal analysts note that this case could become a landmark in defining digital financial privacy. “The Fourth Amendment was written before the internet, but its spirit is very much alive in cases like this,” one privacy attorney told [news source].
In a recent filing, Solicitor General D. John Sauer responded that Harper voluntarily provided his data to Coinbase, and therefore waived any reasonable expectation of privacy.
The government pointed to legal precedents like U.S. v. Miller, which held that financial data held by third parties—such as banks—do not receive the same constitutional protections. Coinbase’s user agreement, the filing argues, also clearly states that the company may cooperate with law enforcement when required.
So far, lower courts have sided with the IRS, viewing Coinbase’s records as business data rather than private papers. If the Supreme Court agrees, it could effectively give the green light for broader government access to user data stored on crypto platforms.
Legal takeaway: A ruling in favor of the IRS could set a precedent that weakens digital privacy protections for millions of crypto users in the U.S., not just those suspected of wrongdoing.
While this case may seem narrow, its implications could be broad and long-lasting. At its heart is a fundamental question: does the U.S. Constitution protect crypto financial records the same way it does your personal files and papers?
With the Supreme Court yet to weigh in, the future of digital privacy in crypto hangs in the balance.
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post IRS vs. Coinbase: Supreme Court Asked to Reject Crypto Privacy Challenge appeared first on Coinpedia Fintech News
Story Highlights IRS demands Coinbase data to combat crypto tax evasion; user claims Fourth Amendment violation. Supreme Court decision could reshape privacy rights for millions of crypto users nationwide. The U.S. government is urging the Supreme Court to dismiss a legal challenge from James Harper, a Coinbase user who claims the IRS violated his constitutional …
Cryptocurrencies could be poised for a massive price recovery as President Donald Trump prepares to speak with Russian President Vladimir Putin about a potential Ukraine peace deal. With geopolitical tensions influencing investor sentiment, crypto price movements could see significant volatility. Will a breakthrough in negotiations spark a bullish surge, or will uncertainty keep prices fluctuating?
According to Bloomberg, President Trump is scheduled to speak with Putin on Tuesday and has expressed optimism about a possible resolution to the Russia-Ukraine war. He stated there is a “very good chance” of reaching a positive outcome.
However, White House officials, including National Security Adviser Mike Waltz, have acknowledged major hurdles in achieving a ceasefire.
Geopolitical uncertainty often weakens the price of risk assets like cryptocurrencies and stocks. Therefore, if there is a breakthrough in the matter, it could be bullish for Bitcoin and altcoins.
At press time, traders appear skeptical of a peaceful resolution to the war. The Nasdaq and S&P 500 futures have declined as analysts flip bearish on the US stock market. Bitcoin price has also dropped slightly by 1.3% to around $83,600.
The end of the Russia-Ukraine war may be bad for the US dollar, which is already underperforming against other major currencies due to Trump’s tariff war. However, a weaker US dollar will be good for cryptocurrencies price as traders seek out other safe havens.
Trump’s tariff war has stirred economic uncertainty and reduced reliance on the dollar. Meanwhile, the possibility of the end of the Russia-Ukraine war has boosted the price of European currencies, leading to the US dollar index falling to a five-month low.
If investors anticipate a short-term weakening of the US dollar, it may lead to capital rotation into cryptocurrencies as traders hedge against currency devaluation, leading to higher price moves.
Bitcoin price trades at $83,065 today with a marginal 0.5% increase in 24 hours. BTC is at a pivotal point where a breakout from a symmetrical triangle pattern on the four-hour price chart will determine the next move.
Crypto analyst Carl Moon notes that if BTC breaks above the upper trendline of this triangle, it could trigger a bullish Bitcoin price prediction and a 12% rally toward $94,000. This rally could be supported by a successful outcome from Tuesday’s meeting, leading to price gains across the cryptocurrencies market.
Conversely, if this uptrend fails and BTC price drops, it will result in another downtrend, possibly to the $72,000 price level.
Besides the bullish technical outlook, whales also seem to be accumulating BTC. This follows the recent purchase of $10M Bitcoin by MicroStrategy. This suggests whale positioning ahead of the Trump-Putin meeting.
The post Cryptocurrencies Price Prediction as Trump Set to Broker Ukraine Peace Deal With Putin appeared first on CoinGape.
Bitcoin (BTC) and most of the top altcoins have made significant gains this week as global financial markets show signs of a recovery despite the ongoing fears of the US and China not reaching a trade deal. Most importantly, the S&P500 index is repeating a 1998 pattern where a V-shaped recovery ensued after a sharp market decline. As risk assets rebound, here is what traders should expect from BTC, ETH, XRP and SOL price.
Analyst Julien Bittel on X noted that the S&P500 index underwent a correction that mirrors what happened in 1998 when financial markets crashed after Russia defaulted on debt. This crash caused the market sentiment to become overly bearish before a rally ensued to form a V-shaped recovery.
Bittel noted that this pattern appears to be in play again as the stock and crypto markets record price gains. After hitting lows in April following fear around the US-China trade war, the S&P500 has bounced by 12%, the Nasdaq 100 is up 15%, while the BTC price has surged by 26%.
If this pattern plays out like it did nearly three decades ago, it would mean that a parabolic rally for risk assets. However, the US dollar continues to struggle after the recent DXY decline to a four-year low, indicating that tariffs remain a major risk to US economic growth. This may cause investors to adopt a risk-off stance, which will impact Bitcoin and altcoins.
The risk of the US economy falling into a recession this year also remains high, with data from Polymarket showing that 63% of traders anticipate this event to happen in 2025. At the same time, the lack of any breakthrough in the ongoing China-US trade war suggests that investor confidence remains low, and this may have an effect on the S&P500 and how crypto prices perform in the short term.
The Bitcoin daily price chart shows that the bullish momentum is strong after the RSI broke out from a falling wedge pattern, and eyes a 21% surge to $115,000. The RSI further supports the bullish Bitcoin price prediction after soaring to 70, marking its highest level in 2025.
As BTC rallies, it first needs to overcome resistance at $99,689. Doing so will confirm the momentum and the breakout from the falling wedge, and if it crosses the psychological level of $100,000, a new all-time high will be in sight.
Ethereum’s weekly price chart shows that the largest altcoin remains under bearish pressure despite its bounce from the recent lows below $1,400 after the S&P500 fueled financial market recovery. If it can sustain the upward momentum, it may surge past $2,120 before aiming for the next resistance of $2,800.
However, the RSI and the MACD show a grim outlook. The RSI has plunged to 38, suggesting that ETH is under a bearish momentum, while the MACD is also negative, confirming this bearish thesis. To confirm a bullish Ethereum price prediction, both the RSI and MACD need to cross into bull territory.
The daily XRP price chart also shows that an upward trend may be what’s next for this top altcoin after breaking out of a symmetrical triangle pattern. This breakout hints towards an 11% rally to resistance at $2.50. If Ripple flips this resistance level, it may form the next bullish break past $2.93 to potentially create new highs, with this formation supporting a bullish XRP price forecast.
Solana price also eyes massive gains alongside the S&P500, with the monthly chart indicating that a parabolic 2,440% rally is looming that may push SOL past $400. This upswing is seen in the rounding bottom pattern, where a breakout to these highs will be confirmed if SOL overcomes resistance at the neckline of $208.
The S&P500 is mirroring the 1998 cycle, where the index rebounded with a V-shaped recovery after experiencing a sharp decline. If history rhymes, this index may be on the verge of an upswing that may bode well for other risk assets, including BTC, ETH, XRP, and SOL, as these altcoins anticipate gains.
The post Here’s What to Expect From BTC, ETH, XRP & SOL as S&P500 Secretly Mirrors 1998 Cycle appeared first on CoinGape.