On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Bitcoin price action sees its lowest levels since the second week of October after a hefty $5,000 red daily candle.
Bitcoin (BTC) shed almost $5,000 in a single day on Nov. 26 as bulls faced fresh disappointment.
Bitcoin targets $54,000
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it headed toward $54,000 at the time of writing amid intense volatility.
Holders saw major selling pressure after coming within inches of $60,000 late Thursday, the latest attempt to beat resistance nonetheless ending in retreat.
Hours later, Bitcoin was back at its lowest since mid-October, and firmly vindicating those who assumed that the current break from bullish upside was not yet over.
“Not quite there but hopefully soon,” analyst Willy Woo said about one indicator hinting at an incoming — but not immediate — return to form.
Anyone too enthusiastically betting on corrective moves being over was feeling the pain Friday, however, as 24-hour cross-crypto liquidations passed $630 million.
Yet not everyone was surprised or even fazed by the events. Cointelegraph contributor Michaël van de Poppe called current price action “beautiful.”
Beautiful price action #Bitcoin. I like it.
— Michaël van de Poppe (@CryptoMichNL) November 26, 2021
“Many pumps on markets are getting retraced fully,” he added in Twitter comments ahead of a fresh market update.
U.S. dollar reverses rally
Altcoins did not respond well to Bitcoin’s fall, with many major tokens outperforming BTC against the United States dollar in terms of losses.
Related: Bitcoin bulls have a lot to be thankful for despite BTC ‘probably’ not hitting $98K in 5 days
Ether (ETH) shed 5.8% compared to Bitcoin’s 4.8%, with others seeing closer to 10% erased from spot price on the day.
Van de Poppe advised traders not to “chase the pump” on altcoins, as markets showed that repeating volatility remains a key characteristic in the short term.
In the background, the U.S. dollar finally began to flag, ending a winning streak that had seen the U.S. dollar currency index (DXY) hit its highest since June 2020.
While traditionally inversely correlated, Bitcoin looked like more of a copycat as DXY targeted 96 for support.
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