Bitcoin has recovered back above the $29,000 level, rising above its 21 and 50-Day Moving Averages in doing so, in wake of another rate hike from the US Federal Reserve. The US central bank lifted the federal funds target range by 25 bps on Wednesday to 5.0-5.25%, marking 500 bps worth of rate hikes in…
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According to a recent Forbes report, DHL, the commercial arm of Bhutan’s Royal Government, entered the Bitcoin mining industry by purchasing BTC when it was priced at $5,000. Druk Holding and Investments (DHI), which had not previously disclosed its early involvement in Bitcoin mining, has been revealed by DHL’s CEO Ujjwal Deep Dahal. Dahal explained…
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Since 2011, Bitcoin (BTC) has posted an average return of 18.3% in May, according to data presented by bitcoinmonthlyreturn.com. However, two of the worst three Mays in Bitcoin’s history have come in the last two years. In May 2021, Bitcoin shed a stunning 35.38% of its value. In May 2022, Bitcoin dropped a more modest,…
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An El Salvador government-linked organization has rubbished claims that the nation’s ambitious plans to build a haven for Bitcoiners have been shelved. Late last month, a number of Twitter-based individuals claimed that they had come across documentary evidence that the Ministry of Public Works had confirmed that the Bitcoin City project “does not exist.”… Read…
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Bitcoin infrastructure firm Lightning Labs has released an update to Litd, its node management tool, in order to make it easier for people to use the Lightning Network. The new update adds automated fee management, custodial accounts, finer-grained LNC permissions, and the Pool Order Board to Litd, Lightning Labs head of product growth Michael Levan said in…
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Bitcoin wallet addresses controlled by Russian security services have been revealed by an unknown person or group, according to blockchain intelligence firm Chainalysis. In a now-deleted tweet originally posted on Thursday, Chainalysis said that close to 1,000 Bitcoin addresses claimed to belong to Russia’s Foreign Military Intelligence Agency (GRU), Foreign Intelligence Service (SVR), and Federal…
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The Bitcoin (BTC) price is largely unchanged in the mid-$29,000s on Friday. The cryptocurrency found decent support earlier in the session when it briefly fell to test the $29,000 level and 21-Day Moving Average just above it. But the Bitcoin bulls seem to be taking a breather ahead of the psychologically important $30,000 level, as…
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A judge has ordered a record-breaking $3.4 billion penalty in a fraud case involving Bitcoin brought by the US Commodity Futures Trading Commission. In a Thursday press release, the CFTC revealed that Cornelius Johannes Steynberg, a South African national and CEO of Mirror Trading International Proprietary Limited (MTI), has been ordered to pay the penalty for…
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A measure of leverage in the Bitcoin market just fell to its lowest since late 2021, a sign that volatility inducing speculators are increasingly being washed out of the market, meaning that the world’s largest cryptocurrency by market capitalization may be in for calmer waters ahead. Crypto analytics firm CryptoQuant’s “Estimated Leverage Ratio” (ELR) just…
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At current levels in the mid-$29,000s, the Bitcoin (BTC) price is up over 6.0% in the last 24 hours according to CoinGecko. Indeed, while still down around 4.5% versus the 10-month highs it hit earlier this month above $31,000, Bitcoin has now rebounded close to 10% since testing its 50-Day Moving Average in the $27,000…
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