Tag: crypto liquidations

  • China Debuts First Homegrown 3D AI Chip; CuspAI Raises $450M with Jeff Bezos Backing

    China Debuts First Homegrown 3D AI Chip; CuspAI Raises $450M with Jeff Bezos Backing

    Good morning, tech enthusiasts. Here are the top tech stories making headlines today, from groundbreaking semiconductor advancements to major funding rounds and regulatory actions.

    China Launches Its First Homegrown 3D AI Chip

    China has officially launched its first domestically developed 3D AI chip, the DF1000, in Shanghai. Built by startup Dongfang Suanxin, the chip is engineered to enhance AI computing capabilities and reduce China’s reliance on foreign semiconductor technology. This milestone marks a significant step forward for the country’s AI and semiconductor industries, signaling growing self-sufficiency in critical tech sectors.

    Jeff Bezos Backs CuspAI in $450 Million Funding Round

    CuspAI, a UK-based AI startup, has secured $450 million in fresh funding, with support from Jeff Bezos and Sovereign AI investors. The company leverages artificial intelligence to accelerate the discovery of new materials for clean energy, computer chips, and other industrial applications. The capital will be used to expand research, refine its technology, and scale its business operations globally.

    MIT Expert Warns Against Replacing Entry-Level Jobs with AI

    MIT researcher Andrew McAfee has cautioned companies against using AI to replace entry-level positions. He argues that these roles are essential for young workers to develop skills and prepare for advanced responsibilities. Removing them could lead to a shortage of skilled talent and hinder long-term organizational growth.

    San Francisco Demands Apple and Google Remove AI Nudify Apps

    San Francisco City Attorney David Chiu has formally requested that Apple and Google remove AI-powered “nudify” apps from their app stores. These apps generate fake nude images without consent, causing significant harm. Google has already removed many such apps, while Apple has yet to respond. Legal action may follow if the companies do not comply.

    Crypto Futures Market Sees $226 Million in Liquidations

    The cryptocurrency futures market experienced $226 million in liquidations over the past 24 hours due to sharp price fluctuations. The majority of losses came from traders betting on price increases. Bitcoin and Ethereum accounted for the largest liquidations, underscoring the ongoing volatility and risk in leveraged crypto trading.

  • Bitcoin Tumbles Below $63K After Brief Surge Past $64,250 Amid US-Iran Tensions

    Bitcoin Tumbles Below $63K After Brief Surge Past $64,250 Amid US-Iran Tensions

    Bitcoin briefly surged above $64,250 on Sunday before retreating to $62,839, a 0.65% decline, as renewed US-Iran tensions triggered a broad risk-off shift across global markets. The cryptocurrency’s volatile session underscores how tightly digital assets are now tied to geopolitical headlines far beyond the crypto ecosystem.

    Bitcoin Price Today: A Quick Snapshot

    The session split into two distinct halves. Early buyers pushed Bitcoin to fresh multi-week highs, only to watch those gains evaporate once news of tanker attacks near the Strait of Hormuz hit the wires. Volume rose noticeably during the retreat, indicating real selling pressure rather than a quiet weekend market.

    • Current price: $62,839 (down 0.65% on the day)
    • Weekly change: -1.94%
    • Intraday high: $64,250+
    • 24-hour crypto liquidations: $254 million (mostly long positions)

    Key Bitcoin Price Levels to Watch

    Technically, Bitcoin remains below its 50-day, 100-day, and 200-day exponential moving averages — a bearish stacking that often caps rallies. Key levels are:

    • Resistance: $64,000–$64,072, with a stronger barrier at the 50-day EMA near $65,577
    • Support: $61,748–$62,360; a break below $61,700 could expose a move toward $58,000

    The Relative Strength Index (RSI) sits in neutral territory (47–52), suggesting the market is neither overbought nor oversold.

    Why US-Iran Tensions Matter to Crypto Markets

    Geopolitical conflicts rarely stay confined to energy markets. Despite Bitcoin’s reputation as “digital gold,” it still behaves like a risk asset during military escalation. Key ripple effects include:

    • Rising oil prices fuel inflation worries, pressuring risk assets broadly.
    • Investors rotate into gold or the dollar, pulling liquidity away from crypto.
    • Leveraged Bitcoin positions get wiped out quickly as volatility spikes.

    Broader Market Reaction

    Bitcoin was not alone in the sell-off. Ethereum slipped to $1,789, while Solana held up better near $76.80. The Altcoin Season Index sat near 59, indicating altcoins have not meaningfully outpaced Bitcoin. The Fear and Greed Index dropped to 28, reflecting heightened fear.

    Analyst Outlook on Bitcoin Price Prediction

    Technical readings are mixed but not outright bearish. The daily MACD histogram has started to stabilize, and institutional buying offers a floor. Strategy (formerly MicroStrategy) added to its Bitcoin reserves, and ETF flows are showing early signs of steadying after a rough June.

    A confirmed daily close above $64,000 could open the door toward $65,500 and $67,000. Conversely, a break below $61,700 would likely trigger selling pressure toward $58,000.

    Factors That Could Shape Bitcoin’s Next Move

    • Further escalation near the Strait of Hormuz could spark a sharper retreat from risk assets.
    • A credible ceasefire announcement could quickly restore risk appetite.
    • Federal Reserve commentary on interest rates will shape broader liquidity conditions.
    • Sustained institutional buying could cushion Bitcoin against deeper downside.

    Final Words

    Bitcoin’s brief run to $64,250 shows that demand for higher prices has not disappeared. The pullback says less about crypto fundamentals and more about how tightly digital assets are now tied to geopolitical events. Two storylines to watch: the technical tug-of-war around $64,000 resistance and the geopolitical standoff thousands of miles away. The resolution of either will likely decide Bitcoin’s next direction.