Bitcoin price since the past couple of days has gained huge bullish momentum as it flipped from the lows just below $20,000, the second consecutive time. On the contrary, the asset also witnessed extreme bearish pressure during the last trading day but the bearish pressure failed to drag the price below $21,000. Therefore, displaying a...Read More
Marathon Digital Holdings – a leading bitcoin mining company – mined 707 BTC during Q2, 2022, which is an 8% Year-Over-Year increase. More importantly, though, the firm did not sell any of its crypto stash and currently owns 10,055 BTC. Despite the Bear Market, Marathon Kept Pushing The latest cryptocurrency mining company to announce its...Read More
After weeks of treading in the red, the market briefly climbed to the $1 trillion mark. The world’s largest cryptocurrency – Bitcoin – as well as some major altcoins, raked in notable gains. Additionally, Coinbase’s Bitcoin price premium also seems to be recovering after surging near 0.075. Possible Whale Accumulation According to the data from...Read More
After paying back an additional $41.2 million in Dai to decentralized lending platform Maker, Celsius Network now can reclaim approximately $450 million worth of BTC locked up as collateral on the protocol. Celsius has been actively paying back its loans to Maker in the past few days in a bid to drastically lower the liquidation...Read More
Galaxy Digital CEO Mike Novogratz shared his latest insight on the state of the crypto market in an interview with CNBC, predicting that it is close to the bottom after massive leveraged positions were liquidated. However, choppiness may persist in the short term until a bullish narrative reverses the overall sentiment. “$13K BTC?” When asked...Read More
Failed cryptocurrency exchange Mt. Gox has provided an update on its repayment procedures under its creditor rehabilitation plan. The exchange states that the “Rehabilitation Trustee” – Nobuaki Kobayashi – is preparing to make his repayments in line with the exchange’s approved rehabilitation plan. Kobayashi published an accompanying report related to both repayment procedures and his...Read More
The UK-based cryptocurrency mining firm – Argo Blockchain – mined 179 BTC last month. However, due to the current market conditions and its loan agreement with Galaxy Digital, the company had to sell 637 BTC at an average price of around $24,500. More Sellings Than Production In September 2021, Argo Blockchain secured a $25 million...Read More
Two retirement systems in Fairfax County, Virginia, distributed $35 million into VanEck’s cryptocurrency lending fund. The administrative region has experience in the digital asset industry since years ago its Police Department pension fund invested in blockchain technology and later displayed intentions to add crypto investment managers. VanEck’s Lending Fund Attracted New Investors As presented on...Read More
Celsius Network has repaid yet another $34.43 million of its debt to MakerDAO as the former blue-chip company tries to avert a total collapse. This marks the second such repayment in less than 24 hours. Vault 25977, reportedly owned by Celsius, showed a series of payments starting June 14. Its liquidation has dropped to $2,722. Earlier...Read More
Exposure to shorting Bitcoin’s price saw record inflows of $51 million last week as the asset crumbled below $20,000, a new report showed. Shorting Dominates in the US According to the latest CoinShares’ weekly ‘Digital Asset Fund Flows’ report, a total of $64 million in inflows in the digital asset investment products was observed between...Read More
The publicly traded Bitcoin miner Core Scientific confirmed on Tuesday that it sold $167 million worth of Bitcoin in June alone. This selloff leaves the miner with just 1,959 Bitcoin remaining on its balance sheet, alongside $132 million in cash. A Closer Look at the Miner Selloff As revealed in the company’s monthly operational update,...Read More
June proved to be a brutal month for the cryptocurrency market. The price of the two largest assets – Bitcoin and Ethereum – posted a large decline as uncertainties surrounding the possible insolvency of crypto lending companies, including the crypto native fund, Three Arrows Capital, seeped in. The latest data suggest that macro sentiment around...Read More
For the first time in almost a year, revenues for Bitcoin (BTC) miners surpassed those of Ethereum (ETH) in June. But even then, both digital assets have shown dwindling profit margins owing to the prevailing crypto winter. According to a July 5 report by Binance, last month, Bitcoin miners generated $656.47 million. Meanwhile, Ethereum miners...Read More
Bitcoin (BTC) surpassed $20,000 for the first time in five days. Last week, the king coin briefly fell below $19,000 before rebounding ground during a rally on Friday. As per coincodex, BTC is currently up by more than five percent in the last 24 hours and is trading at $20,373.55. The past six months have...Read More
Twitter and YouTube accounts of the British Army were simultaneously hacked on Sunday and used for promoting two different crypto scams. However, by Sunday evening, the compromised accounts had been restored to normal, media reports said. Cyber Attack The unknown hackers changed the account details to make them look in sync with the crypto scams they...Read More
Multichain, previously known as Anyswap, has announced integration with RSK blockchain, a Bitcoin merge-mined smart contracts platform. According to the press release shared with CryptoPotato, the integration aims to facilitate the transfer of ETH, USDC, BUSD, and other assets between RSK, Ethereum, and BNB Chain. The broader focus of the decentralized cross-chain router protocol will...Read More
The second quarter of 2022 saw the cryptocurrency market’s downward trend continue. Bitcoin’s price has decreased from over $69,000 in November 2021 to about $19,000 as a result of the ongoing crypto market crash. The cryptocurrency had a roughly 40% decline in June, according to Coin Metrics data, making it its lowest month since 2010....Read More
This year, June was simultaneously bullish and bearish as the Fed raised rates to combat rising prices and cryptocurrencies dropped. Additionally, according to industry experts, cryptocurrencies have shown impressive ties to stocks, frequently moving in tandem during trade, imitating Bitcoin, which is expected to keep expanding through the rest of 2022 and beyond. Amidst the...Read More
Cryptocurrency markets continue to trade sideways this Saturday as the global crypto market capitalization remains above $868 billion while Bitcoin trades above $19k and Ethereum manages to stay above $1k. Major stocks rallied during the first day of the year’s second half, ahead of a long July 4th weekend, spelling some good news for global...Read More
Bitcoin prices have been trading below $20,000 for the second day in a row and displaying huge possibilities of dropping hard. The current descending trend is expected to get accelerated soon which may drag the price much lower. However, amid the bearish trend, a minor possibility of a short-term bounce emerges, which may lay the...Read More
After a bearish week, the global cryptocurrency market continues to trade sideways today, sending Bitcoin below the $20k level and Ethereum below $1.1k. Stocks are having one of their worst years, with Tech Stocks showing significant bearish momentum in 2022. The good news is that the selloff has subsided this Friday as BTC remains above...Read More
The government of El Salvador purchased 80 BTC amid the cryptocurrency market crash. The country spent over $1.5 million to acquire the assets. El Salvador made the headlines last year, becoming the first nation to make bitcoin legal tender inside its borders. Apart from its entrance into the ecosystem, the Central American country has also...Read More
Lightning Labs has announced the release of the beta version of the Lightning Network Daemon (lnd). The firm has revealed incorporating several improvements in the new – v0.15-beta. The main idea is to offer developers and users access to the “latest and greatest” Bitcoin protocol upgrades that include Taproot and Musig2. Taproot and Experimental Musig2...Read More
The past months have been long and bumpy for Bitcoin, which took yet another plunge below the psychological level of $20k. But that isn’t stopping the retail investors from buying the dip. Investors, both big and small, have lost significant money on their Bitcoin bets. But latest data from IntoTheBlock suggest that retail is stacking...Read More
As Bitcoin’s price tanks below 2017’s highs, the latest Bitcoin ETF to hit the US market has been thriving. ProShares short Bitcoin ETF (BITI) is already the second-largest Bitcoin ETF in the country. Bullish on the Bear Market Since BITI launched on June 21st, its accumulated net short exposure equivalent to 939 BTC within a...Read More
With bitcoin continuing to experience adverse price movements and dumping below $20,000 for the second time in June, the asset is on the brink of registering its worst-performing quarter in about a decade. Bitcoin’s 60% Q2 Drop Data from Coinglass shows that the primary cryptocurrency is down by almost 60% in Q2, which will end...Read More
After a sharp rebound last week, Bitcoin and Ethereum again suffer significant bearish momentum as BTC and ETH prices dip to yearly lows at $19k and $1k, respectively. The bear market is in full effect for crypto and traditional markets. Tech stocks are having their worst year yet, with major stocks like Apple Inc (AAPL)...Read More
Bitcoin has fallen roughly 70% from its spike of $68,000, and it may fall even more. Meanwhile, while many investors predict a Bitcoin bottom, others seem to have exited the market due to the fear of declining prices. Nevertheless, as per the data, the actual situation is not what it appears to be with the...Read More
Nearly $2 trillion in crypto market value has evaporated in months since the sky-rocketing prices in November last year. But, according to JPMorgan Chase & Co.’s Nikolaos Panigirtzoglou, the deleveraging that prompted the rout is at an advanced stage and may not have much further to run. A Bottom May Be Near With markets sliding...Read More
Mark Newton – technical strategist at the investment insights firm Fundstrat – is not convinced that Bitcoin has reached its bottom. He claims there is a significant chance of a “final washout” style event that could take the top cryptocurrency as low as $12,500. One Last Crash? As Newton explained in a note to Bloomberg...Read More
