Bitcoin started the weekend in consolidation, as traders seemingly found a new price floor at $26,500. The price uncertainty comes as markets settled following a volatile week, which was headlined by the Federal Reserve rate decision. Ethereum remains below $1,600. Bitcoin Bitcoin consolidated for a second straight session, with the cryptocurrency hovering around a floor…
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Bitcoin (BTC) is consolidating in the $26,600s on Friday, roughly in line with where it started the week as traders digest recent macro developments, like a further push higher in US yields to new multi-year/decade highs in wake of this week’s hawkish leaning Fed policy announcement…. Read More: Biggest Crypto Gainers Today on DEXTools –…
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Ethereum continued to slip lower on Friday, as the cryptocurrency fell below the $1,600 level in today’s session. Crypto markets have mostly consolidated since the Federal Reserve opted to keep rates unchanged earlier this week, with the global market cap down nearly 1%, as of writing. Bitcoin continued to trend lower.
Bitcoin
After falling…
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Bitcoin is known to be a very volatile digital asset as its price is often wont to rise and fall unexpectedly, and sometimes without a clear reason. One of these instances of the digital asset flash-crashing was back in 2021 when the price of Bitcoin had fallen 87% on some exchanges in a matter of…
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In an environment of soaring interest rates and economic unpredictability, Bitcoin and the broader crypto market face increased headwinds. The shift in the financial landscape was recently underscored by the Benchmark 10-year US Treasury yield, which hit a 16-year high this Thursday. Longest Yield Curve Inversion Ever Historically, an inverted yield curve, where short-term yields…
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The decade-old “NSA created Bitcoin” theory has again made the rounds on social media, with one Bitcoin advocate adding more weight to his ongoing theory. Bitcoin advocate Nic Carter has come out to reiterate his support for the theory that the United States National Security Agency (NSA) had something to do with the creation of…
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Since its inception, Bitcoin, the preeminent cryptocurrency, has witnessed several market cycles, each with its highs and lows. Its volatile nature has recently tested investors’ mettle, especially those who ventured into Bitcoin in the past three months. Bitcoin Short-Term Holders’ Cost Basis Troubles New findings from analytics firm Glassnode have painted a detailed picture of…
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Blue chip cryptocurrency markets are under pressure on Thursday, with Bitcoin (BTC) having dropped more than 2% to the mid-$26,000s and Ether (ETH) down 2.5% under $1,600. Reports that long-defunct cryptocurrency exchange MtGox will delay repayments for another year to 2024 have failed to boost sentiment, likely given that macro has been acting as a…
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Bitcoin fell below the $27,000 level on Thursday, as markets reacted to the latest Federal Reserve interest rate decision. As expected, the Fed opted to keep rates unchanged at 5.5%, whilst hinting at one additional raise in the current cycle. The dollar strengthened across the board following the decision. Ethereum is on the cusp of…
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The Bitcoin mining industry has risen steadily in the past few years thanks to the widespread adoption and increasing interest in the Bitcoin blockchain. This growth has led to a vast increase in Bitcoin’s hash rate, causing concerns regarding the carbon footprint left behind by mining activities. A recent Bloomberg study has shown, however, that…
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