Fears of sell pressure from Mt. Gox repayments and possible miner sales led to bitcoin dropping below $59,000, with major tokens like ether and Solana’s SOL also declining. Trading firm QCP Capital anticipates a subdued market in the next quarter due to uncertainty around the Mt. Gox bitcoin supply release. Fears of looming selling pressure […]
Bitcoin Below $59K: What’s Going On? And Bitcoin keeps going down. The world’s biggest crypto dropped below $59,000 on Thursday, July 4, 2024, hitting lows we haven’t seen since late April. At one point, Bitcoin touched $57,874 on Coinbase before bouncing back a bit to $58,764. That’s still a 3.4% drop over the past week. […]
(Bloomberg) — A third-straight daily slide in Bitcoin took the digital asset close to levels last seen in February amid challenges including US political drama and the potential for disposals by creditors of the failed Mt. Gox exchange. Most Read from Bloomberg The largest cryptocurrency fell as much as 2.7% on Thursday before paring some […]
Bitcoin miner capitulation metrics are approaching the same level as the market bottom following the FTX crash in late 2022. Daily miner revenue has dropped to $29 million from $79 million following the bitcoin halving earlier this year. The hashrate has slumped by 7.7% since the halving as inefficient miners turn off their equipment. Bitcoin […]
Bitcoin Price Drops Amid Concerns Over Market Cycle Peak, According to Analyst Bitcoin‘s price has declined by 1.35% in the last 24 hours, now standing 16% below its all-time high of $73,835, which it reached on March 14. Over the past 30 days, Bitcoin has fallen by 9.2%. This downward trend in June has left […]
U.S. and German Government’s Bitcoin Movements Raise Market Concerns The German government has made significant Bitcoin transactions again, moving large amounts of the cryptocurrency after similar actions last week contributed to a dip in Bitcoin’s price. On Monday morning, wallets known to be linked to the German government transferred 1,500 BTC (approximately $94.94 million) across […]
Bitcoin Bottom Could Be In, According to Discount on Coinbase Premium Index Bitcoin (BTC) is currently trading at a discount on Coinbase, a trend that some experts believe could indicate a price bottom for the largest cryptocurrency. According to a post on X, David Lawant, head of research at FalconX, noted that the last time […]
Bitcoin Volatility Surges as Traders Brace for Potential Price Swings Bitcoin experienced increased volatility on June 30, with traders anticipating notable price movements for BTC as the cryptocurrency approached significant weekly, monthly, and quarterly candle closes. Bitcoin (BTC) reached highs of $63,712 over the past 24 hours, according to CoinMarketCap data. This came after BTC […]
(Bloomberg) — As the second-quarter draws to a close, crypto investors are left wondering what’s next for Bitcoin after it retreated from the all-time highs registered during the height of the mania over exchange-traded funds. Most Read from Bloomberg The original cryptocurrency is down about 13% since March, a sharp contrast from the 67% and […]
(Bloomberg) — The proportion of Bitcoin traded over weekends has declined to an all-time low of 16% this year, according to cryptocurrency research firm Kaiko. Most Read from Bloomberg The drop comes in the wake of the launch of spot Bitcoin exchange-traded-funds, which appears to have shifted the periods when Bitcoin is traded to be […]
A powerful start to 2024 had the bulls predicting $100,000 bitcoin {{BTC}} at some point this year, but relentless selling pressure during April and June (interrupted by a May bounce) has the price struggling not to drop below $60,000 as the quarter draws to a close. Entering the second quarter, bitcoin was trading just shy […]
(Bloomberg) — Bitcoin’s performance is starting to be overshadowed by the Ether and Solana tokens as hype around US cryptocurrency exchange-traded funds shifts to the two smaller digital assets. Most Read from Bloomberg Solana surged the most in over a month on Thursday after fund manager VanEck filed an application to start an ETF for […]