Tag Archives: Bitcoin (BTC) Price

After a decade of waiting, July might finally bring restitution to the users of the now-defunct Mt. Gox exchange. However, it appears that market players are on edge regarding the distributions and fear further sell-offs. It is important to understand that Bitcoin has already been on a decline since the beginning of June and has failed to build a meaningful upward momentum despite modest ETF inflows. On July 3rd, the price fell under $60,000 briefly followed by a slight...

Over the past few days, crypto markets have tanked 15% with more than $350 million exiting the space. Monthly support levels have been broken sending crypto assets to their lowest levels since late February as bearish sentiment returns. However, the 28% market correction is nothing new and has happened several times during every market cycle. Crypto Corrections Are Normal Cryptographer and Bitcoin pioneer Adam Back said that prior bull runs had around half a dozen 30%...

It’s safe to say that the cryptocurrency market went through a lot during the past couple of days, with prices tumbling to levels not seen since February. It appears that the bulls are now attempting a comeback or, at the very least – a slight recovery. Bitcoin Price Increases Above $56K At the time of this writing, BTC is trading above $56K, charting an increase of around 4% in the past 24 hours. The cryptocurrency had previously crashed to a 5-month low to $53,550, but the...

On July 5th, Bitcoin fell below $54,000, experiencing a decline of over 6% in the past 24 hours due to increasing bearish pressure. The market downturn intensified after Mt. Gox, an early cryptocurrency exchange that went bankrupt over a decade ago, started to repay its customers following a lengthy bankruptcy process. The latest downturn has rendered several Bitcoin mining machines unprofitable. According to the latest data from f2pool, only six mining machines remain...

TL;DR Bitcoin’s price briefly dropped below $54,000, triggering a market-wide correction, but increased interest in buying BTC suggests some view this as a “buy the dip” opportunity. Metrics like the Relative Strength Index (RSI) and the Fear and Greed Index indicate the asset is oversold and in fear territory, which might be interpreted as a potential signal for a rebound. A Buying Opportunity? Bitcoin (BTC) saw its price plunge by over 5% on July 5, sinking below the...

What a week it’s been… The cryptocurrency markets ultimately took a turn for the worse, but they haven’t been without their moments. The bottom line is that the total capitalization lost a whopping $200 billion, which is more or less 10% in the past seven days alone. This came on the back of considerable losses from Bitcoin, but especially from the altcoins. In fact, the BTC dominance – a metric that gauges its share relative to that of the rest of the market – is up by about...

The defunct cryptocurrency exchange Mt Gox has finally commenced creditor repayments ten years after filing for bankruptcy. According to an announcement from the Mt Gox Rehabilitation Trustee, the defunct estate distributed bitcoin (BTC) and Bitcoin Cash (BCH) payments to some creditors on July 5 through designated crypto exchanges linked with the repayment plan. Mt Gox Begins Repayments The Mt Gox trustee will continue repaying other creditors when certain conditions are...

The Bitcoin network is showing some signs of miner capitulation. This stage is marked by miners ceasing operations or selling part of Bitcoin reserves. Interestingly, this process has been historically linked to a bottoming of Bitcoin prices, following which the asset is expected to resume a much-needed uptrend. Signs of Bitcoin Miner Capitulation Since the recent halving, the network hash rate has dropped by 7.7% from its peak on April 27. According to the latest report...

TL;DR Binance will terminate trading for six pairs, including BTC/AEUR and ETH/AEUR, effective July 5, possibly due to poor liquidity or other factors. Despite delisting some pairs, the company has added new ones like WIF/BRL and ZK/USDC, though these are not available to users in certain restricted regions. Binance’s Latest Move The world’s largest cryptocurrency exchange – Binance – will terminate trading services for the following six pairs: BTC/AEUR, ETH/AEUR,AI/TUSD,...

Investors are eagerly awaiting the launch of spot Ethereum ETFs this month. But reports of delays appear to have vexed investors. But once spot Ethereum ETFs hit the floor, these new products are estimated to attract net inflows of $3-$5 billion within the first six months of trading, according to a recent report published by crypto exchange Gemini. Ethereum ETFs Poised For Massive Influx Gemini’s analysis suggests that the introduction of spot Ethereum ETFs in the US could...