One such is the Bitcoin proponent and Blockstream CEO Adam Back, who said CBDCs are worse than bank accounts. In the latest tweet, Back vouched for Bitcoin as an “apolitical, bearer, unseizable money” and argued that CBDCs, on the other hand, are “systems of control.” Bitcoin as Money Back went on to add that the...Read More
Finnish customs have reportedly 1,889.1 BTC with the help of two brokers, gaining over 46.5 million euros (over $47 million). Selling Seized Bitcoins According to the official announcement, the customs seized the funds during drug busts and had been legally forfeited to the state following court rulings. The bulk of the digital assets in various...Read More
Though the overall cryptocurrency market has entered the recovery phase, the global market capitalization has plunged by 1.73% in the last 24hrs. The leading cryptocurrency, Bitcoin, is striving to get back to its $23,000 price levels. This bear pull movement has made the traders and investors anxious about the future price action of Bitcoin. A...Read More
Around the Block sheds light on key trends in crypto. Written by Connor Dempsey, sourced from the work and insights from the entire team at Coinbase Ventures & Corp Dev TLDR: Coinbase Ventures deal activity reflected the overall pace of the venture landscape, down 34% QoQ. Activity remained up 68% YoY, reflecting the steady growth...Read More
Today, the global cryptocurrency market has opened on a bearish note as major cryptocurrencies signaled red. The lead cryptocurrency, Bitcoin, had claimed the $24,000 price area in the early hours yesterday before declining and losing its $23,000 range, while Ethereum has lost the $15,000 level once again. The recent gains were witnessed after a short...Read More
The electric vehicle giant Tesla sold $936 million of its bitcoin holdings in Q2 this year. However, the move was prompted not because the company does not believe in the asset anymore, but because of the record production costs in China due to the last COVID-19 lockdown, CEO Elon Musk explained. Earlier this week, the...Read More
Third-largest Bitcoin whale has finally emptied its BTC holdings after demonstrating a long-term accumulation trend. As per BitInfoCharts, the whale bought a total of more than 207k BTC since 2019 before transferring all of it. The move coincided with Bitcoin posting gains for three straight days before topping $24,000, the highest level since mid-June. Over...Read More
According to Tesla’s Q2 2022 earnings report released on Tuesday, the car manufacturer has sold almost all of its Bitcoin into fiat currency. The selloff netted the company an additional $936 million in cash for its balance sheet. As reads the report, Tesla “converted approximately 75% of [its] Bitcoin purchases into fiat currency,” as of...Read More
The Thailand-based cryptocurrency platform – Zipmex – froze clients’ withdrawals citing volatile market conditions. It remains unknown when the company will restore the service. The latest firm in the cryptocurrency field to reveal issues on its platform is the Thai exchange Zipmex. In a recent tweet, it disclosed that users are not allowed to make...Read More
As Bitcoin spiked through the resistant level of $23,000 after dipping below $19,000 recently, many expected that the breakout signaled a short-term relief rally. Glassnode’s weekly report predicts that the primary cryptocurrency is forming a “genuine bottom” as its current realized value is around $22,000. In the meantime, on-chain data has shown that the unrealized...Read More
Terra Classic (LUNC) Price Analysis Terra Classic after a long time has displayed a significant bullish divergence while the bears attempt very hard to restrict the price lower. Despite the market sentiments thriving, no growth in the volume is recorded in recent times. Therefore, this is compelling the price to remain consolidated within the narrow...Read More
Edward Dowd – former Managing Director at BlackRock – thinks that bitcoin will be a much more stable asset once the bear market is over. He described it as “the Amazon of the crypto era,” predicting it will hold a spot in everyone’s portfolio in the future. The Crypto Winter Will Not Defeat Bitcoin The...Read More
Bitcoin price ever since the beginning of July has displayed immense strength that uplifted the price beyond $22,000 for the second consecutive time in the past fortnight. While the asset was expected to hit $23,000 to secure the mandatory resistance, the bears intensify their activity to keep the price restricted below $22,100. On the other...Read More
In its latest Insight report, the world’s largest digital asset manager, Grayscale Investments, compared the current bear market with other market cycles in crypto history to predict when the next bull run could arrive. The Crypto Market Cycles Grayscale noted that, like traditional markets, the cryptocurrency space is cyclical, and the industry is currently experiencing...Read More
Bitcoin is garnering interest from the oil and gas industry and is spiking concern for using renewable energy for operations. Sad State Of BTC Mining The “cost to mine Bitcoin” in the United States has recently caused a movement in the BTC price that has attracted interest from the crypto world, particularly because BTC miners...Read More
Long-term bitcoin holders have not disposed of their holdings into the market weakness as short-term speculators are mainly responsible for the heavy selling that exacerbates the asset’s nosedive, according to Coinbase’s latest monthly report. Miners and crypto firms that are forced to liquidate their positions to stay solvent amid a liquidity exodus have shown that...Read More
The crypto space appears to be preparing for a bearish weekend as most of the assets are on the verge to experience a significant drop. The Bitcoin price is currently swinging around $20,500 and the global crypto market capitalization also has witnessed a slight growth that may keep up a bullish momentum alive. Therefore, some...Read More
Bitcoin (BTC) Price Analysis Bitcoin price is currently hovering within an uncharted area where-in both the possibilities of a rebound and a drastic plunge is making their way out. On the other hand, the volume also appears to have been equally distributed among the bulls and the bears. Therefore in case, anyone gets exhausted, the...Read More
BitMEX Research recently published a report detailing why Ethereum has dwarfed Bitcoin as the center of Dapp and developer activity within crypto. While there are technical reasons for the discrepancy, the team claims that Bitcoin developer culture prior to Ethereum’s launch drove alternative use cases away from its ecosystem. The OP_Return Controversy The report explores...Read More
Renowned baseball team, New York Yankees, is set to let its employees convert a portion of their paychecks to BTC holdings after striking a deal with Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG). According to the official press release, the multi-year partnership will allow the Yankees’ employees to access NYDIG’s Bitcoin Savings...Read More
Bitcoin has slowly begun to decouple from equities, now nearing its lowest correlation with the stock market in 2022. A 40-day correlation coefficient between Bitcoin and the Nasdaq 100 index has fallen below 0.5 – levels not seen since January, according to Bloomberg. By comparison, the correlation was about 0.6 at the end of last...Read More
Strategists at the American multinational investment bank JP Morgan Chase & Co recently revealed that bitcoin’s cost of production has dropped by nearly 50% over the last month. BTC Production Cost Plunges to $13k According to a note published Wednesday by the bank’s strategists led by Nikolaos Panigirtzoglou, the Bitcoin production cost is currently sitting...Read More
The number of liquidated traders and the value of liquidations skyrocketed to over $200 million on a daily scale as BTC, and the entire crypto market experienced enhanced volatility following the record-breaking US inflation data. The past several days didn’t go all that well for the primary cryptocurrency, which lost the coveted $20,000 mark yesterday...Read More
The world’s largest cryptocurrency recorded one of the worst monthly price performances in history in June. This month, too, has been kind to it. The current market structure has many hallmarks of the later stage of a bear market. And while many bottom formation signals have formed, Bitcoin is yet to establish a “resilient” one...Read More
The bloodbath will probably worsen, at least, until the end of the year as inflation will remain above 5%, and regulatory crackdowns against the industry deepen, according to the annual report published by crypto research firm Messari. Examining the industry through a long-term perspective, however, the firm said institutional investments have grown steadily YoY despite...Read More
A recent study conducted by MLIV Pulse revealed that 60% of the surveyed Wall Street investors believe bitcoin dropping to $10,000 is a more possible scenario than the asset rising to $30,000. The poll further estimated that professional investors are more supportive of the cryptocurrency industry than retail investors. Pessimism Reigns Among Wall Street Investors...Read More
The hopes of miners of a recovery might have increased due to the increase in the price of the largest cryptocurrency by market capitalization. With BTC hovering around the $22,000 mark, the crypto market is trading in green with a change in sentiment. Bitcoin’s price increased from $367 billion on July 1 to $414 billion...Read More
The United States Office of Government Ethics (OGE) outlined that cryptocurrencies and stablecoins do not qualify as “publicly traded securities” according to the agency’s regulations. As such, it banned individuals who privately own digital assets from participating in Federal policies that could affect the valuation of such tokens. The OGE’s Recommendation In its latest legal...Read More
British multinational jeweler Graff Diamonds Corp. has filed a lawsuit against its insurer, The Travelers Companies, Inc. (Travelers), for failing to provide indemnity after it paid $7.5 million in Bitcoin to ransomware hackers. Graff Sues Insurer Over $7.5M BTC Ransom Loss According to a Bloomberg report on Wednesday, Graff’s security systems were exploited by the...Read More
A renowned Bitcoin trader is of the opinion that Bitcoin’s (BTC) 200-week moving average (200WMA) and relative strength index (RSI) is signaling a bullish trend. An analyst who is pseudonymously known as Plan B informs his 1.9 million Twitter fan base that though Bitcoin’s 200-Week Moving Average (WMA) is suggesting a decline, he awaits for...Read More
