Bitcoin's recent rally might hit a snag. The culprit? Stablecoin liquidity. CryptoQuant, a market intelligence firm, points to a potential roadblock. They reckon Bitcoin's price surge could stall without more stablecoin action. Bitcoin ETFs are still raking in cash. But that might not be enough. CryptoQuant told Decrypt that "stablecoin liquidity [has] yet to fully pick up." They're particularly eyeing Tether's USDT. It's the big fish in the stablecoin pond. Its market cap growth is "still near zero," says CryptoQuant. Stablecoins are crypto's workhorses. They're pegged to stable assets, usually the US dollar. Traders use them to hop in and out of positions. Without enough stablecoin flow, Bitcoin trading could slow down. That's CryptoQuant's take. It could put a damper on Bitcoin's price, they reckon. Right now, Bitcoin's trading at $64,360. That's according to CoinGecko. It's below its March all-time high of $73,737. It's even under its 2021 peak of $69,044. Bitcoin had been on a tear. The SEC gave the nod to spot Bitcoin ETFs in January. Money poured in. The price shot up. Then things cooled off. Investors got spooked by geopolitics and Fed worries. The Mt. Gox payout also raised eyebrows. But now, appetite for Bitcoin is back. Tuesday saw $422 million flow into ETFs. That's the biggest single-day inflow since early June. The million-dollar question remains. Can Bitcoin keep climbing without more stablecoin juice? CryptoQuant's got us all scratching our heads on that one.

The hunt for Bitcoin's creator continues. Craig Wright, the Aussie tech whiz who claimed to be Satoshi Nakamoto, has come clean. He's not the guy. Wright admitted his lies on his website. It's a big deal. For years, he insisted he was Nakamoto. Now, he's eating humble pie. On May 20, 2024, the High Court of England and Wales dropped the hammer. They found Wright guilty of dishonesty. He'd been fibbing about being Nakamoto. The court didn't mince words. They said Wright lied "extensively and repeatedly". He cooked up false stories to back his claims. It's not a good look. But wait, there's more. Wright forged documents. He presented these fakes as evidence. The court called it "a most serious abuse". It's a slap in the face to courts in the UK, Norway, and the US. The High Court laid down the law. Wright didn't write the Bitcoin white paper. He doesn't own its copyright. He didn't create the initial Bitcoin software. They went further. Wright wasn't "Satoshi Nakamoto" from 2008 to 2011. That's when Bitcoin was born. The court shot down all of Wright's claims. He's not the Bitcoin mastermind. The court's not messing around. They've slapped Wright with strict conditions. He can't start legal proceedings based on his debunked claims. He can't get others to do it either. Threats are off the table too. Wright can't threaten legal action over his fake Bitcoin creator status. He can't get others to make threats either. The court's drawn a line in the sand. This ruling is a big deal. It's the end of Wright's long-running Bitcoin creator charade. It's also a warning to others in the crypto world. Don't mess with the truth, or you'll get burned.

Bitcoin might be gearing up for its third parabolic run this cycle. That's the word on the street from crypto strategist Kevin Svenson. Svenson, with his 78,700 YouTube followers, reckons BTC is mimicking its 2017 moves. Back then, Bitcoin saw three parabolic phases before the bull market fizzled out. "In 2017, there were multiple phases of the parabolic trend," Svenson explains. "You had a shorter-term parabolic trend that would break down into a larger one, and then it would do it again." He adds, "Right now in 2024, we're sitting in the same position. There's no reason why this couldn't happen." What's needed? Svenson says it's simple: renewed optimism and regained momentum. Technical indicators are hinting at a shift towards the bulls. The relative strength index (RSI) is looking perky. Svenson points out, "If you look at the beginning of 2023, we found support right around the 45 level on the weekly RSI, and we just bounced off that level again." He reckons this could be a zone of trend expansion. Fancy that. The moving average convergence divergence (MACD) is another tool in Svenson's kit. It's suggesting the bulls are taking back control. "The weekly MACD right now is starting to show that bearish momentum is decreasing, that bullish momentum is starting to pick up," Svenson notes. He adds, "When we have these weekly MACD histogram turnarounds, that's normally where the price is getting tremendous speed." As of writing, Bitcoin's trading at $65,469. It's up about 15% in the last week. Not too shabby. Will Svenson's prediction come true? Only time will tell. But one thing's for sure – the crypto world's never dull.

Paraguay's Bitcoin mining crackdown has reached a new milestone. The country has seized over 10,000 ASIC miners this year. This puts it on par with Venezuela's recent enforcement efforts. The National Electricity Administration (ANDE) has conducted more than 70 raids. These targeted suspected Bitcoin mining farms across Paraguay. Venezuela's crackdown is part of a broader anti-corruption drive. Paraguay's focus is different. It aims to stabilize power grids at risk of overload. The latest raid in Ciudad del Este nabbed 450 ASIC rigs. They weren't plugged in. The machines were stashed in a warehouse in Hernandarias, Alto Paraná. ANDE called it a "storage site for crypto farm equipment." Prosecutors think the gear might be from a nearby facility in Santa Mónica. This case may be linked to a previous "failed" raid. Miners allegedly cleared out an illegal farm before investigators arrived. Hernandarias is becoming a hotspot for illicit mining. Authorities have filed 20 criminal cases there this year alone. Bitcoin mining is a hot-button issue in Paraguay. The country is known for its hydroelectric power surplus. Some reckon mining could boost Paraguay's economy. Currently, the nation offloads excess power to neighbors on the cheap. A new industry group is pushing back against higher energy rates for miners. They claim it could "kill off" the sector and cost Paraguay $1.5 billion and hundreds of jobs.

Bitcoin (BTC) is set to catch up with the surging stock market, according to a prominent crypto analyst. Leading digital currency has lagged behind equities but may soon close the gap. That might also mean we get to see a so called 'God Candle' phenomenon. Pseudonymous trader Bluntz, known for rather accurate crypto predictions, shared his outlook with 265,000 followers on X. He believes Bitcoin is ready for a significant upward move, maybe, even for a one of those unbelievable surges, that each time make some people become obsessed with Bitcoin, while other go broke, of course. "Crypto wasn't leading, it was lagging. The great catch-up begins," Bluntz stated. Bitcoin traded at $64,774 at press time, having broken above the $60,000 mark. Bluntz sees this as a bullish signal. The analyst expects a "god candle" – crypto slang for a massive price spike. This would result in a large green candlestick on price charts. Bluntz suggests Bitcoin may have bottomed out earlier this month. The price dipped below $55,000, but buyers stepped in, and what analysts call a 'resistance' was as strong as any crypto bull would be dreaming about. A hammer candlestick pattern on the monthly chart caught the analyst's eye. "I know there are still [15] days to go but damn that monthly BTC candle is straight fire," he commented. This pattern often indicates a potential trend reversal after a downward move. Crypto analytics firm Santiment noted increased market activity over the weekend. They linked it to former President Trump surviving an assassination attempt at a Pennsylvania rally, but some analysts thinks it might have started even earlier than that. The incident seemingly jolted Bitcoin and other cryptocurrencies out of their slumber. With stocks on a tear, all eyes are now on Bitcoin. Traders are watching to see if it can match or surpass the equities rally.