Browsing:Bitcoin

Bitcoin has dropped 2% in the last 24 hours, trading below $41,000.
4 months ago 1 min read

Bitcoin (BTC) trading below $41,000 poses a challenge for bulls

Bitcoin (BTC), which has risen from $26,866 to $44,543 in eight weeks, is showing signs of a possible downturn. According to CoinMarketCap, the largest crypto has dropped 2% in the last 24 hours, trading below $41,000. Despite multiple attempts to break through the $45,000 resistance level, Bitcoin has struggled to maintain its upward momentum. Following a peak on December 9, BTC was unable to break through the $44,600 resistance, forming a rejection pattern. This triggered a new decline, with the price falling below $40,800 and now trading below $41,000, accompanied by a breach of the 100-hourly simple moving average. On

Bitwise Asset Management has listed its Bitcoin (BTC) exchange-traded fund (ETF)
5 months ago 2 mins read

Bitwise Asset Management has listed its Bitcoin (BTC) exchange-traded fund (ETF)

Bitwise Asset Management, a prominent crypto player, has listed its Bitcoin (BTC) exchange-traded fund (ETF) with the symbol $BITB on the Depository Trust & Clearing Corporation (DTCC). This development is significant because it increases the likelihood of the United States approving a spot BTC ETF. Bitwise’s initiative follows in the footsteps of Fidelity, indicating that cryptocurrencies are gaining acceptance in mainstream finance. A key figure at Bitwise, Matt Hougan, shared insights into the active efforts behind this strategic launch. To expedite the approval process, the company proactively engages in marketing initiatives, media outreach, and consistent dialogues with the U.S. Securities

Insomniac Games has fallen victim to a cyberattack. Hacker demands a ransom of 50 Bitcoin, equivalent to over $2 million, CyberDaily revealed
5 months ago 1 min read

Insomniac Games Faces Cyberattack: Ransom Demands Over $2 Million in Bitcoin

Insomniac Games, the renowned studio behind titles like Spider-Man 2 and the Ratchet & Clank series, has reportedly fallen victim to a cyberattack orchestrated by the Rhysida hacker group, demanding a ransom of 50 Bitcoin, equivalent to over $2 million, CyberDaily revealed. Sony, the parent company of Insomniac Games, is actively investigating the security breach. According to reports, the hackers, part of the Rhysida group, claim to have accessed sensitive data, including U.S. passport scans, personal information from W9 tax forms, and game screenshots from Insomniac’s upcoming Wolverine game based on the Marvel superhero. The compromised personal data is believed

Crypto Analyst Altcoin Sherpa Warns of Short-Term Bitcoin Drops Amid Long-Term Optimism
5 months ago 1 min read

A Crypto Analyst Warns of Short-Term Bitcoin Drops Amid Long-Term Optimism

Altcoin Sherpa, a popular crypto analyst, has issued a warning to Bitcoin investors about the possibility of further price drops. Sherpa took to social media to share insights into current market conditions, predicting that Bitcoin’s price could drop seven more times after the recent drop. The significant drop saw Bitcoin’s price fall below $40,500 on major exchanges, triggering a significant sell-off estimated at $409.8 million. Altcoin Sherpa acknowledged the significance of the drop but remained bullish on Bitcoin’s long-term prospects. While advising investors to brace themselves for further declines in Bitcoin’s price, Altcoin Sherpa emphasized that the current drop is

BlackRock has issued a warning to the US Securities and Exchange Commission (SEC) about Bitcoin's potential classification as a security.
5 months ago 1 min read

BlackRock warns the US SEC about Bitcoin’s potential classification as a security

BlackRock, the world’s largest asset manager, has issued a warning to the US Securities and Exchange Commission (SEC) about Bitcoin’s potential classification as a security. The asset manager emphasized the potential consequences, stating that such a classification could make trading and handling Bitcoin in the United States difficult. BlackRock is concerned about the potential negative impact on Bitcoin’s trading value if it is classified as a security by the SEC. Drawing parallels to the SEC’s legal actions against Ripple, BlackRock stated that the market value of XRP dropped from $100 billion to $10 billion as a result of regulatory scrutiny

BTC dropped by more than 5%
5 months ago 1 min read

Bitcoin plunges by over 5%, dropping below $42,000

The crypto market had a rocky start to the week, with major players such as Bitcoin (BTC) and Ethereum (ETH) dealing with a bearish trend in intraday trading. According to CoinMarketCap, BTC dropped by more than 5%, falling to $41,649 before recovering to $42,510 within a 24-hour period. Over the last day, CoinGlass data revealed a total of $411 million in liquidations, with $357 million linked to long positions in the broader crypto market. The heatmap of liquidations revealed significant liquidations, including over $104 million in Bitcoin and $82 million in Ethereum. Small-cap altcoins were also impacted by market volatility,

A team led by Block founder Jack Dorsey has launched a new Bitcoin wallet called Bitkey
5 months ago 2 mins read

Jack Dorsey’s Block Unveils Bitkey: A Self-Custody Bitcoin Wallet for Global Users

A team led by Block founder Jack Dorsey has launched a new self-custody Bitcoin wallet called ‘Bitkey.’ This innovative wallet will be available in over 95 countries, providing users with a safe and simple way to manage their Bitcoin holdings. Bitkey can be accessed via a smartphone app or hardware storage, providing crypto enthusiasts with a flexible and accessible experience. The highlight of Bitkey is its two-of-three multi-signature wallet, which includes a secure hardware device and recovery tools. A server key, a mobile key, and the user’s fingerprint are all included in the wallet. Users will need to use both

JPMorgan CEO Calls for Crypto Ban Amid Senate Hearing as RCMP Targets Drug Traffickers Laundering Proceeds with Cryptocurrency
5 months ago 2 mins read

JPMorgan CEO Calls For Government Shutdown Crypto

Jamie Dimon, CEO of JPMorgan Chase, has reiterated his strong opposition to crypto, specifically advocating for a ban on digital assets such as Bitcoin (BTC). His comments came during a Senate Banking Committee hearing, in response to Senator Elizabeth Warren’s questions. Dimon’s remarks echo his long-held disdain for crypto, emphasizing his concerns about their alleged facilitation of criminal activity. Dimon’s criticism focuses on the primary use case of crypto, which he believes facilitates criminal activity. During the Senate hearing, he went so far as to say that if he had the authority, he would shut down the entire crypto industry,

Bitcoin is on an incredible rise breaking through the $44k barrier
5 months ago 2 mins read

Bitcoin surges past $44,000 in the last 24 hours

Bitcoin (BTC) is on an incredible rise, breaking through the $44,000 barrier and reaching its highest level since April 2022. Analysts are paying attention to the crypto’s impressive rise, which has increased by more than 160% this year. Meanwhile, JPMorgan CEO Jamie Dimon issued a warning, highlighting potential economic challenges for the United States soon. The dominance of Bitcoin in the current market rally can be attributed to its status as a global macro asset. North Rock Digital’s Hal Press emphasizes the appeal of Bitcoin as an alternative store of value, emphasizing the potential for increased regulatory clarity with the

Tether Rides Bitcoin Surge
5 months ago 1 min read

Tether gains over $1.1B from Bitcoin investments

Tether, the issuer of the widely used USDT stablecoin, has made impressive gains of over $1.1 billion from its Bitcoin investments. This lucrative venture has significantly bolstered Tether’s Bitcoin holdings, reaching 57,576 BTC, thanks to the recent surge in Bitcoin prices, which soared past $41,000. According to reports from Chinese journalist Colin, Tether strategically acquired these Bitcoins at an average price of $22,480 each. Notably, a significant portion of these acquisitions occurred before March 2023, allowing Tether to capitalize on the remarkable upswing in Bitcoin’s value. Initiating a proactive investment strategy, Tether commenced allocating 15% of its net profits into

Adam Back Envisions $700,000 Target, Surpassing Gold
5 months ago 1 min read

This well-known crypto analyst suggests Bitcoin could hit $700K

Adam Back, a well-known cryptographer and supporter of Bitcoin, has made a bold prediction that suggests a rise in the price of the crypto to an astounding $700,000. Back’s optimism isn’t just wishful thinking; it’s also influenced by the state of the cryptocurrency market, specifically the impending halving of Bitcoin and the growing scarcity of this virtual currency. Back provided his prediction on the social media platform X, drawing a link between the recent surge in Bitcoin and the upcoming April halving event. These roughly four-year-old halving events have been shown in the past to be major catalysts for increases

The approval of spot Bitcoin ETFs is a hot topic this week
5 months ago 1 min read

Excitement Builds as BlackRock and Bitwise Pursue Spot Bitcoin ETF Approval

The approval of spot Bitcoin ETFs is a hot topic this week, especially in light of the recent filing of updated S1 prospectuses by Bitwise and BlackRock. As the price of Bitcoin surged above $42,000 on Monday night, the excitement reached its peak. James Seyffart, a strategist for Bloomberg ETFs, has been diligently updating his readers on the development of a spot Bitcoin ETF. Notably, BlackRock, a financial behemoth, entered the race by filing an S-1 amendment. Several issuers are receiving directives that seem to be part of a coordinated effort by the U.S. Securities and Exchange Commission (SEC). Another

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