Markets

BTC dominance has been on a steady climb in the last few weeks. Bitcoin (BTC) price has surpassed the $28,000 level, marking an increase of 5.70% over the past 24 hours. Interestingly,  this comes as most other altcoins appear to be trading flat in the same period. For what it’s worth, the surge in price may be directly linked to new reports that Silicon Valley Bank (SVB) will resume operations today. That is after news that the recently-troubled bank has been acquired by North...

As the tech space digests the Alibaba news, attention also shifts to what becomes of Ant Group’s 2020 suspended IPO.  The decision by Alibaba Group (NYSE: BABA) to split its business into 6 places has renewed focus on the suspended Ant Group IPO. At the beginning of the week, Alibaba announced plans to split into 6 independent business groups. According to the Chinese e-commerce giant, this decision is strategic and would allow each business unit to operate unrestrained. Alibaba further...

Bitcoin’s price has been consolidating following the recent recovery. While the market structure has shifted bullish in the short term, there is still a key level for the price to take out to begin a new bull market. Technical Analysis By: Edris The Daily Chart: On the daily chart, it can be seen that the price has been ranging below the $30K level over the last 10 days. Yet, today’s candle is showing promising momentum to the upside, and the price could finally test the key...

The Alibaba growth sentiment has spread to the entire Chinese sector with the shares of other competing firms soaring following the news. The shares of Chinese multinational e-commerce and tech giant Alibaba Group Holding Ltd (HKG: 9988) is trading at a very high growth rate today as the company said it is restructuring its business into 6 different independent divisions. Hong Kong-listed shares jumped by 12.23% to HKD94.55. According to the company, the 6 subdivisions will help unleash...

It is said that the new CEO is equipped as the “best pilot” to navigate the current business challenges. Investment banking company UBS has named former UBS Group CEO Sergio Ermotti as the new CEO to oversee the Credit Suisse takeover. UBS bought Credit Suisse for $3.2 billion last week as regulators seek to ramp up the global banking system. The Swiss National Bank referred to the acquisition as the solution to secure financial stability and the protection of the nation’s economy....

Tron price started a fresh increase from the $0.057 level against the US Dollar. TRX price is now trading above $0.062 and the 55 simple moving average (4-hours). There was a break above a key declining channel with resistance near $0.064 on the 4-hours chart (data feed via Kraken). The pair could continue to move up if it breaks the $0.0685 resistance zone. TRON price started a fresh increase above $0.062 against the US Dollar, similar bitcoin. TRX price could rise...

Bitcoin price started a fresh increase above the $26,000 zone against the US Dollar. The price is now trading below $28,000 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $27,800 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if there is a clear move above $28,000 level. Bitcoin price is showing positive signs above $27,000 against the US Dollar. BTC might...

There’s been a lot of talk about Bitcoin’s potential to one day reach $1 million per coin – possibly within the next few years.  But is that a reasonable assumption? Here are the data points to consider when assessing Bitcoin’s likelihood of reaching seven figures.  The Halving Cycle Bitcoin’s monetary issuance schedule is designed to cut the rate of newly issued coins every 210,000 blocks – roughly once every 4 years. These “halvings” are known to be a major catalyst for...

Bitcoin and other forms of digital currency may have been hit hard pricewise over the last 13 months, but Block – the payment company formerly known as Square and started by ex-Twitter head Jack Dorsey – has posted strong growth revenue and profits for the fourth quarter of 2022 primarily thanks to its Cash App digital wallet protocol. Block and Bitcoin… A Perfect Match? Bitcoin suffered its worst year on record in 2022. The world’s number one digital currency by market...

The crypto analytics provider – Santiment – revealed that almost 90% of Ethereum’s supply is currently stored in self-custody addresses. The last time the figure was so high was in 2015, shortly after the protocol’s native token saw the light of day.  The new data comes at a time when investors seem to have lost some of their faith in centralized exchanges. Withdrawals from Binance soared in the past 24 hours, prompted by the recent clash between the platform and the CFTC. ...