Bitcoin (BTC)

U.S.-based Bitcoin mining behemoth Marathon Digital has published its quarterly earnings report and has beaten analyst predictions by a good margin. Paradoxically, Marathon’s stock price dipped shortly after the announcement. This is, however, likely a temporary blip. Stunning Financial Results Although Marathon Digital was not necessarily in trouble last year, the crypto winter definitely put a bit of a damper on its plans, as did the SEC, who targeted the firm among a slew...

CSOP Asset Management, a capital market firm in Hong Kong, disclosed in an interview with Reuters that its exchange-traded product, the CSOP Bitcoin Futures ETF (3066.HK), has witnessed a surge in assets under management (AUM) over the past five months. The ETF’s Assets Under Management (AUM) has soared five-fold to over $100 million. Rising Trading Volumes and AUM Regarding trading volumes, the CSOP Bitcoin Futures ETF has increased in average daily turnover, reaching $2.8...

Bitcoin’s price has been on an almost vertical rise in the last few days, approaching its all-time high of $69K. Yet, the cryptocurrency might not make a new record right away, as some warning signals are pointing to a short-term correction. Technical Analysis By TradingRage The Daily Chart On the daily timeframe, it is evident that the price has been rallying aggressively during the last month, breaking past several significant resistance levels. The market is currently one...

Worrying developments at New York Community Bancorp (NYCB) have several Bitcoin investors anticipating a renewed U.S. banking crisis – which could bring money crashing back into the digital currency. The bank’s stock is down 41% over the past month, including a 28% plunge on Friday. Trading for $3.55 at writing time, it has now reached its lowest share price since 1996. What’s Happening at NYCB? NYCB had already suffered major losses in early February after disclosing that...

Analysts at crypto intelligence platform Santiment said Bitcoin’s remarkable performance in the 29 days of last month gave leap year a new definition, but the market may be in for a different ride in March. According to the Santiment’s monthly report, several on-chain indicators suggest the market is in a bit of a danger zone and faces an increased risk of a correction in the short term. A Bit of a Danger Zone Bitcoin recorded a 45% surge in February, blasting past $45,000,...

Bitcoin’s price has calmed at around the $62,000 level after a noteworthy week in which the asset soared by over ten grand. However, the altcoins have resumed their bull run with massive gains from the likes of DOGE, SHIB, BCH, UNI, ADA, and others Altseason Incoming? Numerous reports emerged in the past week or so suggesting that the altcoins, which were outperformed by Bitcoin lately, could be on the verge of a price explosion, thus triggering the next altseason. This...

As Bitcoin surges toward its previous all-time high, industry experts are anticipating a correction before the digital asset can continue its upward trajectory. Mike Novogratz, founder of Galaxy Digital, shared his insights with Bloomberg TV, suggesting that while Bitcoin has soared past the $60,000 mark this week, a correction is likely imminent. Bitcoin Enters “Price Discovery” Phase “I wouldn’t be surprised to see some correction and some consolidation, but I’m very loath...

Coinbase has had a great run recently, topped off with a great Q4 2023 roundup in which the platform announced that it had beaten analyst predictions and was well on track to recovery from crypto winter. However, a technical glitch – which was reportedly caused by high traffic – recently struck the exchange, causing the site to display some users’ balances as zero. Speedy Recovery The platform has since recovered from the glitch, and Coinbase CEO Brian Armstrong hopped on X...

Bitcoin (BTC) is beginning a parabolic bull run of epic proportions that will last throughout the rest of the year, according to popular price analyst PlanB. In a post to X on Friday, the pseudonymous Bitcoin bull published a graph plotting Bitcoin’s “market cycle,” noting that the price has now emerged from this cycle’s “accumulation phase.” Bitcoin Bull Market Has Begun “No more easy buying opportunities in orderly and slowly increasing markets,” wrote PlanB. “If history is...

What a week! Better yet, what a month! Did you know that Bitcoin has never had a month as good as February 2024? That’s right, the cryptocurrency closed its best-yet candle, and we haven’t even gone through the halving yet. The pre-halving anticipation of higher prices is palpable as spot Bitcoin ETFs continue to see outrageous inflows. The total cryptocurrency market capitalization exploded to $2.4 trillion (per CoinGecko) as BTC charted a 21.3% increase in the past seven...