Bitcoin (BTC) mining companies are employing derisking strategies by offloading BTC to exchanges, according to a market report from Bitfinex. The cryptocurrency trading platform’s latest newsletter addresses the Bitcoin mining sector at length, highlighting a recent surge in miners selling large volumes of BTC to exchanges. This has led to a corresponding increase in the
Bitcoin
Bitcoin (BTC) has spent almost a month at or near $30,000, but this is no coincidence, new analysis claims. In one of its Quicktake market updates on July 17, on-chain analytics platform CryptoQuant highlighted three key factors keeping BTC price action in the same place. Bitcoin speculators in the driving seat Bitcoin has rebuffed any
Bitcoin (BTC) starts a new week above $30,000 but heading nowhere as the multi-month trading range refuses to shift. BTC price action is giving traders little more than a frustrating sense of deja vu — and they are now wondering what it could take to change the trend. It may in fact be more accurate
Top Stories This Week Judge rules XRP is not a security in SEC’s case against Ripple Ripple Labs scored a victory in a district court in New York on July 13, with Judge Analisa Torres ruling partially in favor of the company in a case brought forth by the U.S. Securities and Exchange Commission (SEC)
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. This week, Finance Redefined looks at the growing popularity of zero-knowledge proof-based scalable solutions. Zero-knowledge rollups (ZK-rollups) technology has gained a lot of traction over the past
This July 14 Bitcoin weekly options expiry holds the potential to be a significant turning point for market sentiment, potentially leading to a breach below the crucial $30,000 support level. Despite the initial bullish surge triggered by the spot Bitcoin exchange-traded fund (ETF) requests, the recent macroeconomic data has not been favorable for risk-on assets. Analyzing
Crypto mining firm Hive Blockchain is now calling itself Hive Digital Technologies — after enacting a branding pivot that seeks to highlight its foray into artificial intelligence. The Vancour-based mining company said in a July 12 statement it has dropped “blockchain” from its name to better represent the company’s “evolving focus” on revenue opportunities in
A third straight week of positive digital asset inflows has fully corrected nine previous weeks of outflows for the market, according to a report from CoinShares published on July 10. This week’s inflows registered $136 million. Bitcoin (BTC) funds continued their trend of holding the anchor position, with 98% of the inflows coming from BTC. The
The upcoming Bitcoin (BTC) halving is set to blow fresh wind in the sails of Bitcoin-focused stocks such as Michael Saylor founded tech firm MicroStrategy. In a research note shared with Cointelegraph, New York-based investment firm Berenberg Capital Markets explained its reasons for a bullish outlook on MicroStrategy (MSTR), which Berenberg has given a $430
Bitcoin (BTC) is selling for a nearly $3,000 discount on Binance.US, providing a significantly better rate than global spot prices — but there’s just one catch. On July 9, a swathe of crypto users began noticing a widening price discrepancy between cryptocurrencies listed on the United States crypto exchange and their global spot prices, with
Bitcoin mining companies outperformed BTC price by a huge margin amid the recent bullish price action in the top cryptocurrency. The average year-to-date gains in 2023 across the stocks of top nine public Bitcoin mining firms by market capitalization stood at 257.14%. The figure is almost three times higher than BTC’s gain in the same
Bitcoin (BTC) miners made a lofty $184 million from transaction fees in the second quarter, far more than what they pocketed over the entire 2022 — as Bitcoin’s price surged and BRC-20 tokens flourished. The $184 million payout is more than a 270% increase from the first quarter of 2023 and it is the first quarter
Recent weeks have seen a surge in interest from traditional finance for crypto-based exchange-traded funds (ETFs). After the Securities and Exchange Commission took issue with its initial filing, BlackRock submitted a fresh application for a Bitcoin ETF on July 3. A week earlier, Fidelity led a crop of investment firms in lodging applications with the
Bitcoin (BTC) has been the “primary focus” for institutional investors over the last two weeks, according to Coinshares, as the cryptocurrency continues to hit new prihighs for 2023. In a July 3 report from CoinShares’ Head of Research James Butterfill, the analyst noted that Bitcoin-related products saw $310.6 million of inflows over the last two
Social media platform Twitter is temporarily limiting the number of posts that users will be allowed to read per day, after seeing “extreme levels of data scraping and system manipulation,” according to executive chairman Elon Musk. In a July 1 post, Musk said the temporary limits will see verified accounts capped at 10,000 posts per
Bitcoin (BTC) gained 12% in June, but one forecast sees the good times soon fading for bulls. In a tweet on July 1, popular trader CryptoBullet admitted that July might not offer much more BTC price upside. Trader: BTC price rally “likely” ending this month Despite a last-minute dive, thanks to a macro news event,
Bitcoin (BTC) fell below $30,000 after the June 30 Wall Street open as markets panicked over the fate of its first spot exchange-traded funds (ETFs). Bureaucratic error may explain Bitcoin ETF filing hiccup Data from Cointelegraph Markets Pro and TradingView showed BTC price action hurtling downward, briefly reaching $29,500. The volatility accompanied a report that United
While many investors in the West may look to crypto to speculate the next biggest trend, blockchain technology is actually solving “real-world problems” in Africa such as hyperinflation and “corruption,” executives told Cointelegraph. Speaking to Cointelegraph, Chris Maurice, founder and CEO of Yellow Card — Africa’s largest cryptocurrency exchange — said crypto in Africa “is
In the latest episode of The Market Report, analyst and writer Marcel Pechman analyzes some data to conclude whether Bitcoin (BTC) will ever trade at $27,000. Some analysts attribute Bitcoin’s recent 21.5% gains to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing, but other events might have also fueled the cryptocurrency gains. Pechman asserts that, following
While an approved BlackRock spot Bitcoin (BTC) exchange-traded fund (ETF) will funnel new institutional money to Bitcoin, it’s going to be the retail investors that ultimately drive any significant price surges, according to Michael Shaulov, the CEO and co-founder of institutional custody platform Fireblocks. On June 15, investment colossus BlackRock filed for a spot Bitcoin ETF,
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