Tag Archives: BTCGBP

Bitcoin’s rally to nearly $28,000 this week was short-lived. On Thursday, the top crypto asset fell back to $26,300, which was roughly its level before the pump. According to Coinglass, the price dump has triggered $103.58 million in liquidations over the past 24 hours, including $3.12 million liquidation on Bybit.In total, over 34,700 traders were liquidated by the price drop. The collapse comes shortly after a brief rally for Bitcoin on Tuesday, when Grayscale confirmed a...

Bloomberg Intelligence analyst Mike McGlone believes Bitcoin spot ETF approval is “inevitable” – but one bearish influence still remains: the Federal Reserve. Given the ongoing hawkishness of most central banks worldwide, the analyst believes further downside pressure for both Bitcoin and stocks could lie ahead. The Fed’s Looming Influence As tweeted by McGlone, while the “inevitable approval” of the first Bitcoin spot ETF in the United States is “moving closer,” the Federal...

Miami’s mayor – Francis Suarez – announced his withdrawal from the US Presidential race without providing an exact reason for his decision. He is known as an outspoken proponent of bitcoin who has invested some of his wealth in the primary digital asset. Suarez also became the first American politician to receive his salary in BTC instead of fiat currency. One of the Pro-Crypto Republicans Calls it Quits Suarez disclosed on X (Twitter) that he will no longer pursue the goal...

Bitcoin’s price surged yesterday, bouncing from a critical support level. The surge came following the Grayscale news. However, a bearish continuation is still possible if the price remains below the 200-day moving average. Technical Analysis By Edris The Daily Chart On the daily chart, the price has finally demonstrated some bullish price action after finding support at the $25K level. The 200-day moving average, located around the $27,500 mark, is currently being tested. A...

According to Bloomberg Intelligence, the highly-anticipated launch of a spot Bitcoin exchange-traded fund (ETF) in the United States could occur right before Labor Day (September 4). The entity said that the US Securities and Exchange Commission (SEC) is expected to respond to several applications from BlackRock, Bitwise, WisdomTree, VanEck, and Invesco in the following days. The agency has the option to approve, reject, or delay the filings. More Clarity Before the Week’s...

While Bitcoin network fundamentals such as hash rate and difficulty have reached peaks, the same cannot be said for its hash price. The world’s largest crypto’s price has failed to recover, and miners are facing the brunt of it yet again. Bitcoin hash price – which can be described as the revenue generated by miners on a per tera-hash basis – has declined to levels not seen since the dramatic implosion of FTX in November 2022. Bitcoin Miner Revenue Declines Data from...

Bitcoin’s price shows a very low intent to recover following the recent drop last week. Things are not looking positive in the short term. Technical Analysis By Edris The Daily Chart On the daily chart, the price has been consolidating inside a tight range over the last few days, following a massive drop from the $30K critical resistance zone. The 200-day moving average has also been broken to the downside, which is a clear bearish trend signal. Yet, considering the oversold...

The US Federal Bureau of Investigation (FBI) discovered that the North Korean hacking collective – the Lazarus Group – has drained cryptocurrencies worth millions of dollars through several attacks in the past few years. The security agency believes the wrongdoers could soon cash out 1,580 BTC (worth almost $41 million at current prices). Stay Focused on the Lazarus’ Actions The FBI released a statement to notify cryptocurrency companies about a potential move that the...

Bitcoin continues to be shaky at around $26,000 after a violent crash last Thursday. However, the flagship crypto asset is not likely to see prominent gains before the much-anticipated halving that is expected to occur on April 20, 2024. According to Pantera Capital’s recent projection, the next halving would see Bitcoin surging to $35k before it and $148k after the fact, citing historical patterns. Bitcoin Halving Observations by Pantera Pantera Capital asserts that the...

Fed chairperson Jerome Powell has been at the receiving end of significant backlash for his stance on implementing the same approach that helped the US get rid of inflation several decades ago. This strategy has been strongly contended by BitMEX founder Arthur Hayes while pointing out the difference in economic and monetary conditions in the US today from what they were in 1980. Hayes said the Fed is doomed to fail if it continues to run the same playbook, particularly given...