Tag Archives: btcusdt

This week brings both good and bad news, depending on where you look it from. For Metaverse aficionados, the week was quite great, but for the rest of the market – it was downright bleak. So, let’s start with the broader market. Bitcoin is down over 10% in the past seven days, and there’s no other way of looking at it – it wasn’t pleasant. The cryptocurrency tumbled below $56K for the first time since late October and liquidated millions worth of both long and short positions...

Bitcoin’s price dipped to an intraday low of $55,640 (on Bitstamp) and is currently down around 3.5% on the day and 11.8% on the week. The entire market seems to be struggling, with an exception of cryptocurrencies associated with Play-to-Earn games and metaverse-related projects. Bitcoin managed to recover to about $57K, where it’s currently trading as the market is looking for the next direction. Chart by TradingViewThe overall trend in fundamentals and on-chain remains...

The cryptocurrency market continues to decline as Bitcoin’s price dipped below $57K, while Ethereum reached as low as $3,950 on Binance. This left around $120 million liquidated in just an hour. The bitcoin price is now down 5% in the past 24 hours and 12% in the past week as it dipped below $57K moments ago. This is the lowest BTC has been trading at since October 28th. Chart by TradingViewIn the meantime, Ethereum’s price also took a beating as it dipped below $4K and...

Narendra Modi – the Prime Minister of India – urged democratic countries to work together and design a comprehensive regulatory framework for cryptocurrencies. Without it, the asset class can be employed unlawfully and can even spoil the younger generations, he added. Regulations Are Necessary In a recent appearance at the Sydney Dialogue, India’s leader highlighted the importance of implementing regulatory policies in the digital asset industry. He opined that the process...

According to Wally Adeyemo – US Deputy Treasury Secretary – the American national currency will continue to be the world’s most dominant one despite the surging interest in bitcoin and the altcoins. Crypto Cannot Prevail Against The Dollar In an interview with CNBC, Adewale “Wally” Adeyemo – described the cryptocurrency industry as a controversial one, as it might be full of opportunities, but at the same time, it poses a lot of potential hurdles: “One of the things that we...

The professional Baseball League club – Perth Heat – will reportedly pay all its players and staff in bitcoin. In addition, the Australian team might accept BTC as a payment method for merchandise, sponsorships, and ballpark concessions on game days. ‘The Heat’ to Fully Embrace Bitcoin A report by The Guardian reads that the cryptocurrency option will be available from Friday (November 19th) after a partnership with a digital asset payment company. The BTC settlements will...

Changpeng Zhao (CZ), the CEO of the world’s biggest cryptocurrency exchange, Binance, has revealed that he has a personal stash of bitcoin in his investment portfolio. CZ Bought Bitcoin in 2014 Speaking in a recent interview with the Associated Press, CZ noted that although a significant percentage of his net worth is made up of his Binance Coin (BNB) holdings, he still has some BTC that he purchased a few years after Bitcoin’s launch. The Binance boss admitted that he had...

After a good run over the past several weeks, bitcoin’s rally came to a screeching halt, at least for now. Here’s where the whales come in. In fact, one particular whale is actually keen on raking in more and more coins as price takes another breather. Following the cryptocurrency’s fall below the psychological support level of $60,000, the third-largest Bitcoin whale fetched another 1,647 BTC on November 17th. The amount rounds up to approximately $98.8 million. In the last...

Mohamed El-Erian – Chief Economic Advisor at Allianz – classified bitcoin investors into three different categories – “fundamentalists, professional investors, and speculators.” He said he would become a BTC holder once again only if the third type disappears from the space. Will El-Erian Buy BTC Again? The President of Queens College and CEA at Allianz – Mohamed El-Erian – revealed in a recent interview when he would potentially buy bitcoin again. It’s worth noting that he...

The futures market experienced a moderate reset in the funding rate. The recent price volatility in the range between $58 and $69K has caused it to decline. However, similar to the price rally from the COVID crash in 2020, a rising macro trend in the funding rate becomes obvious. At the same time, the momentum of the open interest has also dropped through the last two weeks of volatile price movements. Chart by CryptoQuantThe market has the same structure that we saw in...