Tag Archives: btcusd

Bitcoin’s price movement has remained stagnant after being rejected from the critical resistance zone at $30,000. However, it is currently consolidating near a pivotal support area, which includes both the 100-day moving average and the lower boundary of a multi-month ascending channel. Technical Analysis By Shayan The Daily Chart The daily chart analysis shows that the price entered a slight corrective phase at the beginning of July, marked by diminished volatility and...

The numbers for July’s Consumer Price Index are here. The market has failed to react as Bitcoin’s price recorded an ever-so-slight uptick in volatility before calming back down almost immediately. The Bureau of Labor Statistics of the United States has just revealed the rate of July’s Consumer Price Index. To those unaware, it’s the metric that many people use to gauge the rate of inflation in the country. Per the announcement, the Consumer Price Index for All Urban Consumers...

Cathie Wood – CEO of ARK Investment Management – believes the United States Securities and Exchange Commission (SEC) could greenlight more than one spot BTC ETF simultaneously. ARK Invest’s analyst Yassine Elmandjra had quite a different opinion at the end of June, forecasting that the organization (which has also applied with the securities regulator to introduce such a financial product) is the first in line to receive approval. It’s Either None or Many of Them at Once Ark...

Binance became the first fully licensed cryptocurrency exchange in El Salvador after receiving Bitcoin Services Provider license (BSP) and Digital Assets Services Provider license (DASP) from the domestic regulators. The firm’s impressive expansion over the years includes nations like Italy, France, Sweden, Australia, the United Arab Emirates (UAE), Japan, and many more. The world’s largest cryptocurrency exchange – Binance – announced that the obtained authorization from El...

A prolonged struggle has been ongoing between buyers and sellers centered around the 100-day moving average. The price has been exhibiting remarkably low volatility, which suggests a state of indecision in the market. The price action within this pivotal price range could potentially indicate Bitcoin’s future price movement. Technical Analysis By Shayan The Daily Chart The daily chart depicts a corrective movement following the rejection at $30K. This movement is...

Zachary Kirkhorn, who served as chief financial officer at Tesla, stepped down after staying in the position for the last four and a half years. He will remain part of the company until the end of 2023 to help transition the new CFO. Kirkhorn earned the nickname “Master of Coin” in 2021, shortly after the electric vehicle giant splashed the waters with its whopping $1.5 billion bitcoin purchase.  Changes in Tesla’s Management Team Kirkhorn (who joined Tesla in 2010) will be...

Esther Freeman – a 70-year-old Israeli resident who turned a $3,000 BTC investment into over $320,000 in 2021 – has terminated the legal battle with Bank Hapoalim. The latter was unwilling to accept her crypto profits, casting doubts on the source of the funds she used to hop on the Bitcoin bandwagon. Her investment is currently worth approximately $160,000 due to the price decrease of the leading digital asset over the following years. Dismissal of the Case Less Than Two...

According to data from Switzerland-based investment adviser 21e6 Capital AG, around 13% of crypto hedge funds have shut down so far this year. The reasons for the closures were weak performance and difficulties in accessing banking services. Furthermore, crypto funds generated, on average, around 15% returns in the first half of 2023. They have been underperforming Bitcoin, which gained 77% over the same period. Crypto hedge funds suffer from lagging performance to Bitcoin...

The payment technology firm Block (formerly known as Square) revealed that its bitcoin revenue for the second quarter was approximately 34% more than the figure reported in Q2, 2022.  The company, spearheaded by Twitter’s former CEO Jack Dorsey, is a main player on the crypto scene, owning over 8,000 BTC.  Q2’s Solid Numbers Block revealed that its mobile application that enables monetary transfers – Cash App – generated a bitcoin revenue of $2.39 billion in Q2, 2023. The sum...

Bitcoin miners have had a rocky start in 2023 after being battered by a severe market downturn the previous year. But as prices recovered over the last several months, they have been at significant capacity, according to Bernstein. The brokerage firm’s latest report weighs in on how large miners are poised to reap substantial benefits from such a growing trend. Where do Miners Stand Ahead of Bitcoin Halving? The report suggests that the 16 largest publicly listed mining firms...