Here are some things that will (and won’t) change after the Merge. An under-the-radar rendezvous of core Ethereum developers took place in Greece last week, with major progress being made toward the Merge. According to ConsenSys’ Ben Edgington, a Beacon Chain developer, the teams accomplished the transition of a multi-client devnet from proof-of-work to proof-of-stake. Eth1 execution clients and Eth2 consensus clients successfully merged to create a network capable of processing transactions.

This news comes shortly after the announcement of Altair’s coming upgrade on Oct. 27. The Altair upgrade is a significant step in the transition to proof-of-stake, giving developers a “low stakes warm-up” and further functionality on the Beacon Chain. While the puzzle that is the Merge seemingly moved slowly at first, it is beginning to fall into place all at once.

As we approach the eventual transition to proof-of-stake, it is important to note what the upgrade will change and what will stay the same. Source Link

Bitcoin (BTC) buyers are exiting positions as overbought signals appear on the charts. Resistance is seen at around $58,000-$60,000, the level that preceded a price drop in May. This time, however, pullbacks could be limited toward the $50,00-$52,000 support zone.

BTC was trading at around $55,600 at press time and is down 3% over the past 24 hours. Source Link

The cryptocurrency is down for a second straight day. Bitcoin pulled back again early Wednesday on the heels of a recent bull run.

The cryptocurrency was trading near its 200-hour moving average (MA) and close to its support at $54,500 earlier today, representing a 2.6% drop on the day. That follows a 2.58% decline on Tuesday. Source Link

Comments from J.P. Morgan CEO Jamie Dimon contributed to a sour mood across crypto markets. Bitcoin’s price dipped below $57,000 on Tuesday as analysts said the extreme buying in the market could mean the rally may soon be running out of steam.

They pointed to the bitcoin Fear & Greed Index, which entered “extreme greed” territory last week and is at the highest level since early September, which preceded a sharp sell-off in bitcoin. Source Link

Bitcoin is still up 25% despite the overnight price pullback.
Bitcoin remains on the offer following Tuesday’s 2.58% drop.
The cryptocurrency is currently trading near the 200-hour moving average (MA) support at $54,500 earlier today, representing a 2.6% drop on the day.
The average acted as strong support during the U.S. trading hours on Tuesday. Source Link

There’s a downside to SEC Chair Gary Gensler’s preference for an exchange-traded fund focused on bitcoin futures. But it’s unlikely to deter investors. Improved prospects of the U.S. approving a futures-based bitcoin (BTC) exchange-traded fund (ETF) has brought cheer to the crypto market.

However, the fund may fail to match bitcoin’s price performance thanks to a scary-sounding market dynamic known as “contango bleed.” This refers to fund underperformance that could theoretically occur because longer-dated futures contracts are trading at higher prices than shorter-dated contracts. Source Link

The Kiss star has veered heavily into crypto in recent years. It may have paid off handsomely. Kiss bassist Gene Simmons tweeted in February that he had bought $300,000 of the Cardano blockchain’s ADA currency, writing it was “one I believe in.” The conviction has paid off for the rocker, with ADA’s price more than doubling since then. Based on back-of-the-envelope math, the token hoard would be worth more than $700,000 now.

ADA is one of 14 cryptocurrencies Simmons owns, he said Sunday in an interview on the Altcoin Daily YouTube channel.

“I like [c]ardano, although it’s an idiot name,” Simmons said. “Get rid of that thing. Just call it ADA. Call it by the trading name.” Source Link