• ADA is losing grip on the $0.38 level and coming under selling pressure in tandem with broader cryptocurrency markets. • The latest US inflation report has triggered fears that the Fed might have to raise interest rates higher for longer, hence the risk-off reaction in crypto and traditional asset classes. • Cardano is currently testing an uptrend line and its 50DMA at $0.37, but if it breaks above its 200DMA at $0.3815 then a retest of recent highs in the $0.42 area would become more likely. ADA Price Forecast ADAs price is under pressure after a hotter-than-expected US inflation report was released earlier on Friday which revealed a larger-than-expected…

• Bitcoin short-sellers have been taking a beating in the past two days, with liquidations of around $100 million worth of short future positions across major exchanges. • On Thursday, Bitcoin surged to a new high since June 2022 at $25,270. This was partly due to news that two of the largest Mt Gox creditors will receive most of their payout in BTC, rather than fiat. • Despite now pulling back around 5% from earlier session highs, Bitcoin is still up around 45% this year and bulls remain in the driving seat. Bitcoin Short Sellers Take a Beating Bitcoin short-sellers have taken a battering in the past two days. That’s…

• Court documents have revealed that FTX has spent over $19.6 million on legal and financial advisors for its bankruptcy case in just 51 days. • On the defense team, there are 151 staff members including attorneys, accountants, and strategic advisors. • This includes an invoice of $40,000 for one day’s representation at the first FTX bankruptcy hearing, as well as a $2.56bn bill from Lehman Brothers‘ bankruptcy saga. FTX Incurs Staggering Legal Fees Court documents have revealed that FTX has racked up over $19.6 million in legal and financial advisor fees in just 51 days since filing for bankruptcy protection. The defense team consists of 151 staff members including…