Bitcoin (BTC) mining firm Riot Platforms achieved impressive results in 2023, with total revenues reaching an all-time high of $281 million. In a Thursday press release, the company’s CEO Jason Les expressed satisfaction with Riot’s performance last year, highlighting several significant achievements. The company said it produced 6,626 Bitcoins during the year, a 19% increase…
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Block, a payment platform led by ex-Twitter boss Jack Dorsey, has made enormous Bitcoin gross profits in Q4 2023. Block earned $66 million from selling Bitcoin through Cash App, the firm’s recent Q4 2023 earnings report noted. The fintech firm’s gross profit is a 90% increase year over year, it said. Released Thursday, Block’s earnings…
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Bitcoin ETFs had their first day of net negative outflows for the month of February on Wednesday– a possible sign that hype around the investment vehicles is starting to die down. According to data compiled from BitMEX Research, the Grayscale Bitcoin Trust (GBTC) suffered $199.3 million of outflows on Wednesday, marking its largest daily outflow…
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While Bitcoin treads water around $50,000, with some predicting a slump, one analyst on X is swimming against the current, claiming the coin has “never been this bullish.” The coin is bullish despite cooling off from 2024 highs above $54,000. Analyst: Bitcoin Is Bullish, Here’s Why The analyst Mags argues that Bitcoin is, at spot…
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Bitcoin (BTC) has recorded massive growth in price amid institutional inflows this year following spot ETF approval by the United States Securities and Exchange Commission (SEC). New data by on-chain analytics firm CryptoQuant shows bullish sentiment toward the market leader in recent weeks resulting in a price uptick. According to the data, there is an…
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The Bitcoin price has had a rocky start to the new week after losing its footing above $52,000 on Tuesday. However, all hope is not lost, as indicators still point to a continuation of this trend. Crypto analyst Tony The Bull has identified an important trend in the Bitcoin chart which could trigger a continuation…
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Fundstrat analyst Tom Lee believes Bitcoin (BTC)’s price could reach $150,000 by the end of the year, rising 3X from its current value. His bullish prediction is based on two simple factors: rising demand due to Bitcoin ETFs, and falling supply due to the upcoming Bitcoin halving. Tom Lee’s Bitcoin Forecast “You’ve got demand improving…
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Bitcoin (BTC) exchange-traded funds (ETFs) in the United States have witnessed a remarkable surge in trading volume, reaching the highest levels since their debut last month. According to Bloomberg Intelligence senior ETF analyst Eric Balchunas, the volume amounted to nearly $2 billion, the highest level since the first day of trading on January 11. VanEck’s HODL…
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MicroStrategy executive chairman and co-founder Michael Saylor says there is no reason to sell any of his Bitcoin anytime soon, in an interview with Bloomberg’s Katie Greifeld on Tuesday. Saylor said the approval of a spot Bitcoin ETFs is a rising tide that is going to lift all boats – this phrase is metaphorically associated…
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Bitcoin traders are exhibiting cautious optimism as they refrain from “substantial short positions,” expecting continued price surges, according to analysts from Bitfinex this week’s Alpha report. Despite Bitcoin’s notable surge that brought the asset to trade as high as above $52,000 for the first time since 2021, analysts note a decrease in the short-squeeze ratio…
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