Tag Archives: btcusd

Bitcoin continues to show weakness as the BTC price can move towards $24,000-25,000 as it goes to test the 200-week EMA once again.  On Thursday, August 31, the world’s largest cryptocurrency Bitcoin plummeted by more than 4.5% with its price slipping under $26,000, losing all the early week gains after the Grayscale court ruling. The selling pressure on BTC and its price comes as the US Securities and Exchange Commission (SEC) announced its decision to delay the approval of seven spot...

The American entrepreneur Vivek Ramaswamy, who is one of the US Presidential nominees of the Republican Party, thinks Grayscale’s court victory against the SEC is positive news that could keep Bitcoin and blockchain innovation within the States rather than see it relocate abroad. The 38-year-old businessman has presented himself as a proponent of the primary cryptocurrency and a critic of the possible launch of a central bank digital currency (CBDC) in America.  Praising...

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...