Connect with us

Published

on

BTC price upside is likely limited, market participants argue, with Bitcoin pinned below $27,500. 2376 Total views 17 Total shares Listen to article 0:00 Market Update Join us on social networksBitcoin (BTC) bounced near multiple support trend lines into June 2 as market indecision remained in force.BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewTraders bet on $27,500 BTC price ceiling

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,519 on Bitstamp after the daily close.

The pair showed little signs of a trend change as a stalemate between bulls and bears continued to produce little volatility.

The collection of moving averages (MAs)and the short-term holder (STH)realized pricenear $26,000, thus staying untested on intraday timeframes.

Analyzing the current setup, popular trader Crypto Ed considered the potential for upside topping out at $27,500.

I do think we go down, but as long as we do not break that $26,000, there is a chance for a bullish surprise, he said in a YouTube update on the day.

To break the current impasse, Crypto Ed continued, Bitcoin would nonetheless need to tackle the area above $27,600.

Now I think we bounce back toward $27,500 resistance of the previous range high and from there I will be looking for, possibly, shorts toward $25,000, he confirmed.

$BTC / $USD – Update

I remain short while we are below $27,500 legends. No change in my play here, as only ETH is taking the stage right now pic.twitter.com/UQlP7heLxP Crypto Tony (@CryptoTony__) June 2, 2023

Fellow trader Crypto Tony likewise urged caution until $27,500 returned. His focus was on the largest altcoin Ether (ETH), which rebounded from lows of $1,840 at the May monthly close to hit $1,897 on the day.

“Now i have gone over the structure and we really are not bullish unless we flip $2,000 into support,” part of Twitter commentarywarned.

An accompanying chart presented a target of $1,700 or lower should the $2,000 mark fail to flip.ETH/USD annotated chart. Source: Crypto Tony/ TwitterBitcoin move should be here

Elsewhere, others argued that time was ticking for Bitcoin price to break out, with financial commentator Tedtalksmacro flagging favorable macro conditions.

Related:Bitcoin hodlers exited capitulation above $20K, new metric hints

Treasury yields + USD lower, gold + equities higher, he summarized about a comparative performance chart on June 1. If Bitcoin is going to move, it should be here imo… TradFi shifting risk-on again.Bitcoin vs. macro assets comparison. Source: Tedtalksmacro/ Twitter

Popular trader Moustache was equally upbeat about a Bitcoin copycat move based on bullish signals from the S&P 500.

If the S&P 500 looks bullish, so does Bitcoin, he concluded in part of his latest market analysis.

$BTC

If the S&P 500 looks bullish, so does #Bitcoin.

5 months later and everything is going according to plan (see next tweet).

-Breakout from a >1-Year Descending BW
-Successful retest?
-Inverse Head & Shoulder
-First (W)-Candle is about to close ABOVE the SMA 100 pic.twitter.com/p36vZZgCoE ? (@el_crypto_prof) June 1, 2023

Moustache built on existing findings from January, in which he predicted similar moves on Bitcoin should the S&P 500 stage a comeback.

Magazine: AI Eye: 25K traders bet on ChatGPTs stock picks, AI sucks at dice throws, and more

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. # Bitcoin # Altcoin # Ethereum # Bitcoin Price # Markets # Predictions # Ether Price

Add reaction

Add reaction Related News What are fan tokens, and how do they work? Increasing number of divorce proceedings involve crypto Europes right-wing political groups find cause in crypto Price analysis 5/19: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC Price analysis 5/22: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC Price analysis 5/24: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Continue Reading

US

Donald Trump confirms he will sue the BBC over Panorama edit – despite broadcaster’s apology

Published

on

By

Donald Trump confirms he will sue the BBC over Panorama edit - despite broadcaster's apology

Donald Trump has said he will sue the BBC for between $1bn and $5bn over the editing of his speech on Panorama.

The US president confirmed he would be taking legal action against the broadcaster while on Air Force One overnight on Saturday.

“We’ll sue them. We’ll sue them for anywhere between a billion (£792m) and five billion dollars (£3.79bn), probably sometime next week,” he told reporters.

“We have to do it, they’ve even admitted that they cheated. Not that they couldn’t have not done that. They cheated. They changed the words coming out of my mouth.”

Mr Trump then told reporters he would discuss the matter with Prime Minister Sir Keir Starmer over the weekend, and claimed “the people of the UK are very angry about what happened… because it shows the BBC is fake news”.

Separately, Mr Trump told GB News: “I’m not looking to get into lawsuits, but I think I have an obligation to do it.

“This was so egregious. If you don’t do it, you don’t stop it from happening again with other people.”

More on Bbc

Please use Chrome browser for a more accessible video player

BBC crisis: How did it happen?

The Daily Telegraph reported earlier this month that an internal memo raised concerns about the BBC’s editing of a speech made by Mr Trump on 6 January 2021, just before a mob rioted at the US Capitol building, on the news programme.

The concerns regard clips spliced together from sections of the president’s speech to make it appear he told supporters he was going to walk to the US Capitol with them to “fight like hell” in the documentary Trump: A Second Chance?, which was broadcast by the BBC the week before last year’s US election.

Following a backlash, both BBC director-general Tim Davie and BBC News chief executive Deborah Turness resigned from their roles.

‘No basis for defamation claim’

On Thursday, the broadcaster officially apologised to the president and added that it was an “error of judgement” and the programme will “not be broadcast again in this form on any BBC platforms”.

A spokesperson said that “the BBC sincerely regrets the manner in which the video clip was edited,” but they also added that “we strongly disagree there is a basis for a defamation claim”.

Earlier this week, Mr Trump’s lawyers threatened to sue the BBC for $1bn unless it apologised, retracted the clip, and compensated him.

The US president said he would sue the broadcaster for between $1bn and $5bn. File pic: PA
Image:
The US president said he would sue the broadcaster for between $1bn and $5bn. File pic: PA

Legal challenges

But legal experts have said that Mr Trump would face challenges taking the case to court in the UK or the US.

The deadline to bring the case to UK courts, where defamation damages rarely exceed £100,000 ($132,000), has already expired because the documentary aired in October 2024, which is more than one year.

Also because the documentary was not shown in the US, it would be hard to show that Americans thought less of the president because of a programme they could not watch.

Read more from Sky News:
Key findings in 20,000 pages of documents in the Epstein files

Banksy art theft lands burglar with 13-month prison sentence

Please use Chrome browser for a more accessible video player

Sky’s Katie Spencer on what BBC bosses told staff on call over Trump row

Newsnight allegations

The BBC has said it was looking into fresh allegations, published in The Telegraph, that its Newsnight show also selectively edited footage of the same speech in a report broadcast in June 2022.

A BBC spokesperson said: “The BBC holds itself to the highest editorial standards. This matter has been brought to our attention and we are now looking into it.”

Continue Reading

UK

Rail worker who protected passengers during mass stabbing on Huntingdon train discharged from hospital

Published

on

By

Rail worker who protected passengers during mass stabbing on Huntingdon train discharged from hospital

The train crew member who was seriously injured while trying to protect passengers during a mass stabbing has been discharged from hospital.

Samir Zitouni, 48, known as Sam, was working on board the London North Eastern Railway (LNER) train from Doncaster to London when the attack began in Cambridgeshire on Saturday 1 November.

LNER said Mr Zitouni, who has worked for the firm for more than 20 years, was credited with helping to save multiple lives.

Mr Zitouni had been in a critical condition, having suffered multiple injuries in the incident, but was discharged on Saturday.

Please use Chrome browser for a more accessible video player

Mahmood praises rail worker

His family said: “We are so grateful for the outpouring of support from the public, and very touched by all the kind words about Sam’s brave actions on the night of the attack.

“While we are really happy to have him home, he still has a significant recovery ahead and we would now like to be left in privacy to care for him as a family.”

Earlier this month, LNER said he has been a “valued member” of staff for over 20 years, working on board as a customer experience host.

More from UK

Please use Chrome browser for a more accessible video player

Train mass stabbing: A timeline of events

David Horne, managing director at LNER, said: “In a moment of crisis, Sam did not hesitate as he stepped forward to protect those around him.

“His actions were incredibly brave, and we are so proud of him, and of all our colleagues who acted with such courage that evening. Our thoughts and prayers remain with Sam and his family. We will continue to support them and wish him a full and speedy recovery.”

The attack is understood to have started shortly after the train left Peterborough, with passengers pulling the emergency alarms on the LNER service.

Please use Chrome browser for a more accessible video player

Police believe train attacker filmed waving knife

Train driver Andrew Johnson, who served in the Royal Navy for 17 years, contacted a signaller and requested an unscheduled stop at Huntingdon station.

11 people were treated in hospital after the mass stabbing – nine were initially reported as having life-threatening injuries.

Anthony Williams, 32, was remanded into custody at Peterborough Magistrates’ Court on November 3, charged with 10 counts of attempted murder over the incident.

He will appear at Cambridge Crown Court on 1 December.

Continue Reading

US

Trump to push ahead with BBC lawsuit: Three experts on why he might struggle to win

Published

on

By

Trump to push ahead with BBC lawsuit: Three experts on why he might struggle to win

Donald Trump has confirmed he plans to sue the BBC for between $1bn and $5bn over the editing of his speech in a Panorama news programme.

The corporation said it was an “error of judgement” to splice two sections of his speech together, and the programme will “not be broadcast again in this form on any BBC platforms”.

“We have to do it, they’ve even admitted that they cheated,” the US president told reporters overnight on Saturday.

“Not that they couldn’t have not done that. They cheated. They changed the words coming out of my mouth.”

However, the lawsuit will not be easy, according to three experts who have spoken to Sky News.

“Filing a lawsuit is easy,” said Mark Stevens, media law solicitor at Howard Kennedy, to Sky presenter Samantha Washington.

“Winning one is, in this case, like trying to lasso a tornado: technically possible, but you’re going to need more than a cowboy hat.”

So why would this case be so hard to win?

Where did the damage occur?

The Panorama episode was not aired in the US, which may make Mr Trump’s case harder.

“For a libel claim to succeed, harm must occur where the case is brought,” said Mr Stevens.

“It’s hard to argue [for] that reputational damage in a jurisdiction where the content wasn’t aired.”

Please use Chrome browser for a more accessible video player

BBC crisis: How did it happen?

The president will also have to show that his reputation suffered actual harm.

“But his reputation was pretty damaged on this issue before,” said Mr Stevens.

“There have been judicial findings, congressional hearings, global media coverage around 6 January. Laying that responsibility for any further harm at the door of the BBC seems pretty tenuous.”

Was the mistake malicious?

In order to sue someone for libel in the US, you have to prove they did it on purpose – or with ‘malicious intent’.

That might be hard to prove, according to Alan Rusbridger, editor of Prospect magazine and former editor-in-chief of the Guardian.

Please use Chrome browser for a more accessible video player

‘Trump suing BBC is just noise and bluster’

“I just don’t think that he can do that,” he said.

Since 1964, US public officials have had to prove that what was said against them was made with “knowledge that it was false or with reckless disregard for the truth”.

“The reason for that, when the Supreme Court passed this in 1964, is the chilling effect on journalism,” said Mr Rusbridger.

“If a journalist makes a mistake, [and] this clearly was a mistake, if that ends up with their employers having to pay $1bn, $2bn, $3bn, that would be a dreadful chill on journalism.

“Unless Trump can prove that whoever this was who was editing this film did it with malice, the case is open and shut.”

Read more US news:
‘Earthquake in Team MAGA’ as Trump ally turns enemy
Prison staff fired after leaking Maxwell’s emails, says lawyer

Is he suing for too much money?

Mr Trump says he’s going to sue for between $1bn and $5bn, figures former BBC legal correspondent Clive Coleman described as “very fanciful”.

“That, I think, is very fanciful because he will have to show that he has suffered billions of dollars worth of reputational damage.

“We know that this was back in 2020 when the speech was made. He went on to be successful in business and, of course, to be re-elected as US president.”

Please use Chrome browser for a more accessible video player

‘Trump faces some really big hurdles’ in suing BBC

However, Mr Coleman did suggest the BBC should try to “bring this to an end as speedily as possible”.

“Litigation is always a commercial decision and it’s a reputational decision,” he said.

“The legal processes towards a court case are long and arduous and this is going to blow up in the news pretty regularly between now and then.”

Other news organisations facing litigation by Mr Trump have settled out of court for “sums like $15m, $16m”, according to Mr Coleman.

Continue Reading

Trending