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After Grayscale presented its first oral arguments in its lawsuit with the Securities and Exchange Commission (SEC) on Tuesday, CEO Michael Sonnenshein walked away feeling “very encouraged.” The executive spoke on Wednesday about the crux of Grayscale’s argument and why the SEC’s refusal to approve a Bitcoin spot ETF is “arbitrary and capricious.” The Relationship Between Bitcoin Futures and Spot During an interview with CNBC on Wednesday, Grayscale’s CEO echoed his company’s...

The cryptocurrency market has stalled in the past few days in a rather untypical fashion, but all that can change this week as there’re multiple major events and announcements coming from the world’s largest economy. It starts with US Fed Chair’s testimony to Congress and spreads to jobless claims as well as the unemployment rate. Powell to Testify The US central bank reversed its monetary policy after the COVID-19 pandemic began to fade away and started rising the interest...

Since being embroiled in a regulatory tussle, BUSD’s market cap went on a steep downward spiral. Since hitting an all-time high of $23.04 billion in November 2022, the market cap of the once-major stablecoin declined by more than 60% to $9.17 billion at the time of writing. The Paxos situation is indicative of the larger picture of crypto exchanges under assault from the United States Securities and Exchange Commission (SEC). Uncertainty is looming over the stablecoin...

Bitcoin tried to recover some of its recently lost value in the past 24 hours but was stopped in its tracks and is back down to $22,300. The altcoins are quite stagnant on a daily scale, with EOS losing all of its yesterday’s gains. Bitcoin Maintains $22K The low trading volumes of last weekend helped bitcoin remain around $23,000 for most of it. The start of the working week saw the asset pushing toward $24,000. In fact, BTC managed to tap that level once on Wednesday, but...

Bitcoin’s massive crash on Friday drove it south to just under $22,000 to mark its lowest price tag since February 14. The altcoins experienced similar enhanced volatility, but most have calmed since then. Ripple’s XRP and EOS are among the few alts with notable gains. Bitcoin Slipped Below $22K Despite the rising volatility at the end of February, bitcoin managed to close the month with a slight increase and stood at around $23,000. The first few days of March saw a price...

This week was a complete rollercoaster in terms of price action as the majority of cryptocurrencies found themselves stuck in a chopping range before the ultimate leg down. Bitcoin was trading at around $23,300 this time last week, and a couple of days later, it attempted the first push toward $24K. it was unsuccessful, and at around the end of the week, BTC found itself below $23K. However, this dip was immediately bought up, and the price tapped $24K on Wednesday. The bulls...

The bankrupt cryptocurrency lending firm Celsius announced the reopening of Distributable Assets in certain Custody Accounts. Following the update, some customers took to social media to reveal being able to withdraw funds for the first time since the lender halted its services last June. The development comes a month after the United States Bankruptcy Court for the Southern District of New York authorized Celsius to reopen withdrawals for certain customers with assets held...

After falling by roughly $1,000 and marking a multi-week low beneath $23,000, bitcoin has calmed and sits at just over that line amid low trading volumes. The altcoins are also quiet today, given the trading volumes, aside from the likes of Stacks and Lido Dao, both of which are up by impressive percentages. Bitcoin Flat at $23K Bitcoin tried its hand at taking down $25,000 three times in the past 10 days or so, with the most notable surge coming in the middle of last week as...

Bitcoin didn’t react well to the latest PCE data coming from the US and dropped by almost a grand to a ten-day low. The altcoins also sit deep in the red, with the most substantial losses coming from MATIC, DOT, UNI, and others. Bitcoin Fell to $23K The end of last week went a lot better than this one as BTC skyrocketed by double-digits to chart a six-month high above $25,000. It failed to decisively overcome that line at first but kept trying. However, all three attempts saw...

Bitcoin’s price has been on a rollercoaster throughout the past seven days, and it has failed to chart any significant increase (or decrease) throughout the period. However, it was particularly volatile. Last week at this time, the price was hovering around similar levels, around $24K, but it quickly took for the skies and touched $25K on Sunday. What followed was the first correction back to $24K, after which BTC bounced again and reached $25K once more. It remained there...