Bitcoin (BTC)

Bitcoin’s price actions have calmed during the weekend, as it has happened quite frequently lately, and the asset remains still at just over $66,000. The weekly scale is quite painful for most crypto assets, as BNB and NEAR have dumped by double digits. UNI and TON are among the few exceptions. Bitcoin’s Volatile Week As mentioned above, the last several weekends have been quite dull in terms of price movements and so was the previous one, in which BTC stood at around...

Just a day after announcing a $500 million convertible senior note offering to purchase more BTC, among other goals, Michael Saylor’s brainchild increased its target to $700 million. The company’s shares have been on a wild ride in 2024, perhaps due to the developments around the Bitcoin landscape, but have soared by triple digits since the start of the year. $500M Not Enough Ever since August 2020, when it announced its first BTC purchase, the NASDAQ-listed business...

Blockchain intelligence firm TRM Labs has revealed that cryptocurrency deposits into crypto addresses linked to Chinese drug precursor manufacturers more than doubled in the first four months of 2024 compared to the same period in 2023. In 2023, Chinese precursor networks received over $26 million in cryptocurrency, with 97% of the over 120 manufacturers studied offering payment options in digital currencies. Bitcoin Dominates Transactions According to TRM Labs, the overall...

El Salvadoran president Nayib Bukele is advancing a proposal that will create ‘Banks for Private Investment’ (BPI) offering increased financial services with fewer restrictions to Bitcoin and Dollar investors. Bukele has been a proponent of Bitcoin adoption in the country, making it BTC legal tender in 2021. In fact, El Salvador was the first nation to do so. As his second presidential term rolls on, he is pushing for the introduction of BPIs working differently than the country’s traditional...

Bitcoin’s price has failed to make a new all-time high and is currently going through a correction. Yet, the bull market might still be far from over. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has failed to hold above the $66K level and is currently going through a correction. This is not a good sign, as the cryptocurrency recently broke above a large descending channel but has struggled to continue higher, making it a fake breakout. The...

Canadian singer, rapper, and songwriter Drake has placed two bets of $500,000 each on the NHL’s Edmonton Oilers and the NBA’s Dallas Mavericks to win the Stanley Cup and NBA finals, respectively. However, these teams winning their leagues looks highly unlikely as they have registered three losses and zero wins so far. Drake placed the bets using BTC on Stake, a popular online crypto casino he is often known to frequent and livestream his gambling activities. He posted on Instagram, “Dallas...

Ever since mid-January, when the 11 spot Bitcoin ETFs saw the light of day, Grayscale’s converted GBTC has been at the forefront of outflows. This eventually resulted in losing its crown as the world’s largest exchange-traded fund tracking the performance of BTC. In the last two trading days of this week, though, the tides changed, and this negative award went to Fidelity’s FBTC. Data from FarSide shows the overall outflows for the week, in which four out of the five trading...

Despite news this week of inflation rates lower than expected, top cryptos failed to capitalize for longer periods, leaving many disappointed and causing a wave of liquidations. BTC dropped from over $70,000 last week to below $67,000 early this week. With the inflation report released on Wednesday, it sharply rose back to about $70,000, only to fall again. It hit concerning lows of around $65,100 in a single hour on Thursday, dropping 2% from $67,000, leaving many holders and traders worried...

Bitcoin may have struggled to reclaim its position above the recently established all-time high of over $73,000, but prominent brokerage firm Bernstein remains optimistic about the asset’s future trajectory. In its latest report, Bernstein analysts even upped their long-term price forecast for BTC to $200,000 by the end of 2025. The firm had previously predicted the cryptocurrency to hit $150,000 that year. Bernstein’s Bold Predictions for Bitcoin The analysts attributed this...

June 11 saw Bitcoin Whales purchase over $1.30 billion worth of the asset, or 20,600 BTC, to be precise. The massive interest was driven by falling BTC prices, pushing whales to bag more of it to profit later. Increased whale activity is a good sign and often associated with asset prices rising soon. This accumulation marks the most BTCs bought since February 28 as BTC rallied tremendously, rapidly moving toward the $60,000 mark. Another pointer toward BTC’s price rise in the coming months...