Ripple CEO Brad Garlinghouse has raised concerns over a canceled meeting with U.S. Senator Cynthia Lummis, a known supporter of Bitcoin. The canceled engagement and refusal to reschedule have drawn attention as Garlinghouse visits Washington, D.C., to advocate for a balanced and inclusive approach to digital asset regulation. Brad Garlinghouse Criticizes Lummis for Meeting Cancellation Ripple CEO Brad Garlinghouse, while on a trip to Washington, D.C., shared that Senator Cynthia Lummis cancelled a scheduled meeting and has not agreed to reschedule it. In a post on X, Garlinghouse expressed disappointment in the decision. “I hope you will reconsider and be a leader for ALL of crypto,” Brad Garlinghouse wrote in his statement. He also extended an invitation to the Senator to join him for a public discussion on X Spaces or a live event. Brad Garlinghouse emphasized the need for leaders to support all blockchain networks, not just Bitcoin pointing… Read More at Coingape.com
Semler Scientific, a publicly traded healthcare technology company, has announced an ambitious plan to significantly expand its Bitcoin holdings. The company aims to increase its Bitcoin treasury to 105,000 BTC by the end of 2027. Semler Scientific New Director of Bitcoin Strategy On June 19, Semler Scientific appointed Joe Burnett as the director of Bitcoin
Dogecoin (DOGE) has seen a modest recovery in price recently, posting a 36% rise this week. However, this rally faces potential obstacles, as long-term holders (LTHs) have started selling their holdings in significant volumes.
This selling trend could create volatility, hindering Dogecoin’s ability to maintain its recent gains.
Dogecoin Key Investors Take Profit
The Age Consumed metric for Dogecoin has shown a sharp spike, signaling that LTHs are selling their holdings at a pace not seen since June 2023. This increase in selling activity marks the heaviest selling in almost two years, highlighting a shift in investor behavior.
LTHs are often viewed as the backbone of a cryptocurrency, and their decision to sell could introduce heightened volatility in the market.
As LTHs begin to liquidate their positions, this selling pressure could undermine the current rally. The reduction in holdings from long-term investors may also raise concerns among shorter-term traders, creating uncertainty.
The overall macro momentum for Dogecoin is showing mixed signals. According to the Ichimoku Cloud indicator, Dogecoin continues to show bearish momentum. While the candlesticks are above the cloud, indicating a potential uptrend, the pressure from LTH selling could reverse this momentum.
While the Ichimoku Cloud’s position suggests some positive movement, the sustained selling by LTHs could quickly dampen any optimism. If this selling pressure continues, it could lead to a reversal in price momentum, keeping Dogecoin from maintaining its recent gains.
Although Dogecoin’s price has risen by 36% this week, it remains vulnerable to a decline below $0.200. The recent rally, while impressive, is still susceptible to the ongoing selling pressure from long-term holders. As such, Dogecoin could face challenges in maintaining its price above the current levels.
Trading at $0.234, Dogecoin is approaching a critical support level at $0.220. If the price fails to hold this level, it could fall to $0.198, erasing a significant portion of the recent gains.
This would indicate that the selling pressure is overpowering the bullish momentum, potentially triggering a further decline.
However, if Dogecoin manages to secure $0.220 as support and rebounds off this level, it could attempt to flip $0.245 into a support level.
A successful move above $0.245 would pave the way for a rise to $0.268, allowing Dogecoin to invalidate the bearish outlook and maintain its upward trajectory.
Crypto regulations are coming to the US House of Representatives in two weeks. The goal is to finally provide legal clarity for digital assets and blockchain-based payments in the United States. Congressman Says Key Crypto Regulations Will Clarify Digital Assets and Stablecoin Oversight While speaking during a recent Fox News interview, shared on X, Congressman
