Browsing:Bitcoin

Bitcoin Plummets Below $30k Amidst Reports of SEC's Spot Bitcoin ETF Blockage
11 months ago 1 min read

Bitcoin Dips Below $30k as SEC Reportedly Rejects Spot Bitcoin ETFs, WSJ Reveals

Bitcoin’s value experienced a decline below the $30,000 threshold as the Securities and Exchange Commission (SEC) reportedly signals its intention to block spot Bitcoin exchange-traded funds (ETFs). According to a recent report by the Wall Street Journal, the SEC has deemed the applications for spot Bitcoin ETFs as inadequate due to insufficient clarity and comprehensiveness. T his development follows a surge in applications from various asset managers aiming to gain wider market access to cryptocurrency. The SEC has expressed concerns about the lack of clarity and comprehensiveness in recent applications for spot Bitcoin ETFs filed by Nasdaq and Cboe Global

Bitcoin Cash (BCH)
11 months ago 2 mins read

Bitcoin Cash Price Soars By Over 35% on Debut of EDX Markets

Bitcoin Cash (BCH) has experienced a rapid surge in value following the recent debut of EDX Markets, a cryptocurrency exchange backed by prominent institutions like Fidelity, Charles Schwab, and Citadel. The cryptocurrency has gained over 35% in the past 24 hours, reaching a 14-month high of $320. The rally has been fueled by increased trading activity on South Korea’s leading digital assets exchange, Upbit. The enthusiasm generated by BCH’s availability on an exchange backed by well-known institutions has extended to the Asian market as well. EDX Markets Debut Drives BCH Rally Data shows that Bitcoin Cash has seen a cumulative

Riot Blockchain
11 months ago 2 mins read

Leading Bitcoin Mining Firm Acquires 33,280 Mining Rigs Ahead of Halving

Riot Blockchain, one of the world’s largest Bitcoin mining firms, has announced a significant expansion of its mining capacity. The company has entered into a long-term purchase agreement with China-based Bitcoin miner manufacturer MicroBT, securing an initial order of 33,280 next-generation Bitcoin miners. The installation of these new miners is scheduled for the first quarter of 2024 and will boost Riot’s self-mining capacity to an impressive 20.1 EH/s. The new miners are specifically designed for immersion cooling systems, like the ones utilized at Riot’s Texas facility. This will enhance the company’s fleet efficiency and prepare it for the upcoming Bitcoin

MicroStrategy announced the acquisition of an additional 12,333 Bitcoins (BTC) at an average price of $28,136.
11 months ago 1 min read

MicroStrategy Makes Another Massive Bitcoin Purchase: Acquires 12,000 BTC for $347 Million

MicroStrategy has made headlines again with its latest move in the digital asset realm. On July 28, the company announced the acquisition of an additional 12,333 Bitcoins (BTC) at an average price of $28,136. This significant investment of $347 million further solidifies MicroStrategy’s position as a key player in the Bitcoin market. With this recent purchase, MicroStrategy’s total Bitcoin holdings now stand at an impressive 152,333, obtained at an average purchase price of $29,668. The cumulative cost of these holdings amounts to approximately $4.52 billion as of June 27. Michael Saylor’s visionary leadership and unwavering belief in the transformative power

Bitcoin miners have transferred more than $1 billion worth of bitcoin to cryptocurrency exchanges in the past two weeks
11 months ago 2 mins read

Bitcoin Miners Transfer $1 Billion to Exchanges Following BlackRock ETF Filing

Bitcoin miners have transferred more than $1 billion worth of bitcoin to cryptocurrency exchanges in the past two weeks, according to on-chain data analytics provider CryptoQuant. These significant outflows coincide with BlackRock’s recent filing for a bitcoin exchange-traded fund (ETF) on June 15. While the transfers indicate increased trading activities and potential hedging strategies, experts suggest that miners are utilizing their freshly minted coins as collateral in derivatives trading, rather than directly selling their holdings. The timing of the significant currency outflows from miners aligns closely with the announcement of BlackRock’s bitcoin ETF filing. On-chain data analytics provider CryptoQuant reported

Asset management giant Fidelity
11 months ago 2 mins read

Fidelity to Submit Bitcoin ETF Filing

Asset management giant Fidelity is on the verge of submitting its own filing for a spot bitcoin exchange-traded fund (ETF), joining a growing list of issuers vying to bring this highly anticipated product to the market. Following in the footsteps of BlackRock, a source familiar with Fidelity’s plans revealed that the filing could be submitted as early as Tuesday. This marks Fidelity’s second attempt at a bitcoin ETF, after facing a setback when its previous filing was denied by the U.S. Securities and Exchange Commission (SEC) in early 2022. The Significance of a Bitcoin ETF A spot bitcoin ETF holds

Bitcoin Maintains Ground Above $30,000 Amid SEC's Historic Approval of Leveraged Bitcoin Futures ETF
11 months ago 1 min read

Bitcoin Maintains Stability above $30,000 Amid SEC’s Historic Approval of Leveraged Bitcoin Futures ETF

Bitcoin managed to stay above the crucial $30,000 threshold while other leading cryptocurrencies saw gains, following the approval of the first leveraged Bitcoin futures ETFs by the U.S. securities regulator. This development comes as traditional financial institutions increasingly express interest in entering the crypto market, with JPMorgan launching euro-denominated transactions on its blockchain-based payment system. Bitcoin experienced a slight dip of 0.35% to $30,444 over the past 24 hours, but still showcased a strong weekly gain of 15.44%. Ether, the second-largest cryptocurrency, recorded a 1.18% increase to $1,898, with a weekly gain of 10.32%. Among the top 10 non-stablecoin cryptocurrencies,

what happens if the government decides to confiscate your bitcoins (BTC)
11 months ago 2 mins read

Is Your Bitcoin Really Safe If the Government Can Confiscate Them from You?

Bitcoin is often touted as a safe and secure way to store your money, but what happens if the government decides to confiscate your bitcoins? In theory, bitcoin is very difficult for governments to seize. The blockchain is a decentralized ledger that is not controlled by any single entity, so it would be very difficult for governments to shut down or seize the entire network. However, governments can still confiscate bitcoins if they can identify the owners of the wallets containing the bitcoins. This can be done through a variety of methods, such as tracking down IP addresses or financial

Bitcoin's Rally to Two-Month Highs Ignites Options Market Surge with $3.3B Volume
11 months ago 1 min read

Bitcoin Trading Surges to $3.3 Billion with Price Rallying to Two-Month High

The recent rally in Bitcoin has ignited a surge in demand for calls and spurred increased activity in the options market. On Wednesday, the options market witnessed a significant surge as bitcoin options contract worth $3.3 billion were traded across major exchanges, including Deribit. This single-day notional volume represents the highest in three months, with Deribit accounting for over 80% of the global tally. Traders have shown considerable interest in buying call options, contributing to the increased options trading volume. Call options give the buyer the right, but not the obligation, to buy an asset at a specified price on

Kraken crypto exchange saw a net outflow of 225,000 Bitcoin (BTC)
11 months ago 1 min read

$225 Million Worth of Bitcoin Withdrawn from Kraken, Marking Second-Largest Outflow

Kraken, one of the world’s largest cryptocurrency exchanges, saw a massive outflow of Bitcoin on June 22, 2023. According to data from the on-chain analytics platform Glassnode, the exchange saw a net outflow worth an estimated $225 million. This is the second-largest Bitcoin outflow in Kraken’s history, only surpassed by an outflow of 240,000 BTC in December 2017. The outflow comes at a time when the cryptocurrency market is facing increased volatility, with Bitcoin prices falling below $30,000. It is unclear why investors are withdrawing Bitcoin from Kraken. Some analysts believe that the outflow could be due to concerns about

Bitcoin (BTC) crossed the $30,000 threshold on June 21
11 months ago 1 min read

Bitcoin Surges Over 20% in the Last 7 Days, Soaring to $30,000

Bitcoin (BTC) has received a significant boost from institutional investors, revitalizing the cryptocurrency and instilling renewed confidence within the crypto community. In a remarkable turn of events, BTC crossed the $30,000 threshold on June 21, driven by the entry of major traditional finance (TradFi) players into the crypto market. BlackRock, the world’s largest asset management firm, revealed its intention to launch a spot Bitcoin exchange-traded fund (ETF), signaling its growing interest in the digital asset. This move was followed by Invesco and WisdomTree, two other prominent TradFi firms, announcing their plans for Bitcoin ETFs. Further fueling the momentum, EDX, a

Bitcoin Price Breaks $28k, Signals Bullish Sentiment Amidst Whale Accumulation
11 months ago 1 min read

Bitcoin Price Surges 11% in 7 Days

Bitcoin (BTC) has experienced a significant breakthrough, surpassing the $28,000 level for the first time in three weeks. Following a recent drop below $25,000, the cryptocurrency’s resurgence has gained momentum, leading to substantial gains and a notable short squeeze in the market. BTC/USD rallied over 5% within 24 hours, reaching a high of $28,150 on Tuesday afternoon. The surge in Bitcoin’s price marked the largest short squeeze witnessed in June, amplifying positive sentiment. Additionally, Bitcoin’s dominance index climbed above 50%, a level not seen in over two years, indicating the cryptocurrency’s growing influence within the market. Crypto analytics platform Santiment

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