Tag Archives: btcusd

It was a relatively slow and quiet uneventful week for the cryptocurrency markets but Friday turned the tables around with some big news. But before we dive into the major developments that took place earlier today, let’s focus on the price movements over the past week. Recall that the largest digital asset spiked to $99,000 last Friday where it was met by the bears and was not allowed to progress toward the coveted six-digit territory. The weekend was quite sluggish as BTC...

Several reports emerged in the past minutes that one of the world’s leading crypto exchanges, Bybit, was compromised for roughly $1.5 billion in digital assets. Although the news is yet to be officially confirmed, the panic spread rapidly, causing an immediate price crash for BTC and most altcoins. Seems that @Bybit_Official hot wallet just got hacked. Though, it’s a multi-sign $1.5B worth of $ETH was withdrawn to the new address and is currently being sold More info below...

In a very genial nod to Bitcoin, Cramer asked about the new administration’s plans for crypto and, in his question, drew a comparison to the U.S. strategic petroleum reserve. Will the White House push for something like that? “Yeah, I think so,” Trump answered. But the rest of his answer really showed an understanding of the cryptocurrency sector’s importance to the global economy in terms of first principles. That may be the influence of tech engineer and government...

After a 9.8% drop in Bitcoin’s value over the past week, investors are showing signs of caution, worried about the potential for further declines. Despite this, Japan-based Metaplanet has reaffirmed its confidence by buying nearly 620 BTC. Interestingly, the latest acquisition marks its largest Bitcoin purchase to date. Metaplanet’s Largest Single BTC Acquisition According to the company’s official press release, the acquisition, executed as part of its Bitcoin Treasury...

After heading toward $100,000 yesterday, bitcoin’s price has taken another wrong turn as the asset has lost over three grand since then. The altcoins are also deep in the red, with massive daily price declines from the likes of SOL, DOGE, ADA, AVAX, LINK, SHIB, and many others. BTC’s Short-Term Recovery Although the business week started quite spectacularly for BTC, whose price skyrocketed from $101,000 to a new all-time high of over $108,000 by Tuesday, it actually turned...

Shanghai-based car dealership Cango Inc. has pivoted to Bitcoin (BTC) mining, announcing a $256 million acquisition of 32 exahashes per second (EH/s) in hashrate from Bitmain Technologies. In November, the company extracted 363 BTC, worth about $36 million, without liquidating any assets, positioning it as one of the top players in the global Bitcoin mining industry. Cango Joins BTC Mining Bigwigs According to The MinerMag, the move makes Cango the fifth-largest public...

Bitcoin’s price shows some worrying signs suggesting that a deeper correction is bound to occur, as the price has failed to hold the $100K level. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the price has been gradually rising over the last few weeks, creating a new record high above the $100K mark. However, in the past few days, the market has failed to continue its bullish momentum, falling below $100K and even dropping to as low...

A federal judge in California has denied BiT Global Digital Ltd.’s request for a temporary restraining order (TRO) to prevent crypto exchange Coinbase from delisting wrapped Bitcoin (wBTC) from its platform. US District Judge Araceli Martínez-Olguín ruled Wednesday that BiT Global failed to present sufficient evidence to demonstrate “imminent irreparable harm” if the delisting proceeds. Coinbase Cleared to Delist wBTC The judge also criticized the speculative nature of BiT...

The adverse price developments that started after the controversial statements by the Chair of the US Federal Reserve continue today as well, with BTC dumping to under $98,000. The altcoins have been hit even more severely, with massive double-digit losses from the likes of ETH, DOGE, ADA, AVAX, LINK, and many others. Cryptocurrency Market Overview. Source: QuantifyCryptoCryptoPotato reported yesterday’s price movements, which came just minutes after the latest FOMC meeting,...

Ohio State Representative Derek Merrin has introduced House Bill 703, known as the Ohio Bitcoin Reserve Act, in a bid to authorize the state treasurer to invest public funds in BTC. The latest initiative is announced as part of Merrin’s broader vision to leverage innovative financial solutions. The legislation provides the framework for Ohio to incorporate Bitcoin into its state treasury portfolio. Ohio Bitcoin Reserve Act Merrin highlighted concerns about the ongoing...