Cryptocurrency

Bitcoin’s price increased by 5.5% on Aug. 6 yet struggled to maintain levels above $57,000 despite positive momentum in traditional financial markets. On Aug. 7, the Euronext 100 index rose by 2.2% and oil prices surged by 2.8%. This suggests that Bitcoin’s price correction is less about global economic conditions and more about market-specific factors, […]

Economist and gold advocate Peter Schiff argues that bitcoin exchange-traded funds (ETFs) contradict the core principles of the cryptocurrency by undermining decentralization and peer-to-peer transactions. He criticizes recent buyers of bitcoin for focusing solely on profit, suggesting this behavior indicates an impending collapse. Schiff also slammed Senator Cynthia Lummis’ bill proposing a U.S. bitcoin reserve, […]

The Bitcoin bull-bear market cycle indicator, a metric that tracks phases of investor sentiment in the Bitcoin market, recently signaled a bear phase following the macroeconomic downturn resulting from rising Japanese interest rates and a strengthening yen. According to Julio Moreno, head of research at CryptoQuant, the indicator has not flashed a bear signal since […]

The Bitcoin price has recovered 13% since dropping to $49,050, but the commencement of 2024’s so-called “ghost month” is expected to keep investors cautious, especially in the Asian market. BTC/USD on 1-day chart. Source: Trading View What is a ghost month? This year, the ghost month is from Aug. 4 to Sept. 2. According to the […]

The city of Chico in California anticipates the combined support from state-level legislation and local ordinances to better regulate the Bitcoin teller machines or ATMs. During a local government committee discussion held on Aug. 7, Andy Pickett, the chief administrative officer at the County of Butte, spoke about the ongoing efforts toward regulating Bitcoin ATMs. […]

The United States Bitcoin and Ether ETFs recorded nearly $6 billion in trading volume amid market turmoil on Aug. 5. According to data from CoinGlass, spot Bitcoin ETFs registered a total daily volume of $5.24 billion on the day, with more than half coming from BlackRock’s iShares Bitcoin Trust (IBIT). Spot Ether ETFs recorded $715.3 million […]

In a recent interview with streamer and influencer Adin Ross, former president Donald Trump cautioned the current administration against selling the United States’ Bitcoin holdings. The 2024 presidential candidate reiterated his stance that if the United States does not innovate on the digital asset front, other countries will, noting that China, the United States’ most […]

Nothing says retirement like a nice beach, a little golf and some bitcoin. Wait, what? Investors overseeing some of Michigan’s massive public pension system are dipping their toes in the water when it comes to cryptocurrency. While the current amount of money devoted to bitcoin and another popular currency is relatively small, it’s still a […]

Bitcoin (BTC) extended its slump during Asian trading hours on Monday, plunging below $50,000 before recovering to nearly $53,000, still the lowest level since mid-February, as rising tensions in the Middle East and concerns about the strength of the global economy ate into investor confidence. The world’s largest cryptocurrency fell for a fourth straight day, dropping to […]

Bitcoin is down over 4% in the past 24 hours, falling below $60K. However, a retest of $74,000 in the coming weeks is possible, at least based on a maturing Wyckoff reaccumulation pattern and increasing odds of three rate cuts by 2024’s end. Bitcoin is testing key spring support The Wyckoff reaccumulation pattern is a technical setup […]