Bitcoin’s price recently experienced a significant drop after breaking down the $64K support level. This has put the cryptocurrency in a crucial area that could determine its mid-term fate. The daily chart indicates a downward trend since forming a double top pattern at the $68K resistance level. The breakdown of the $64K level has led
Crypto
The recent economic uncertainty in the United States has had a significant impact on the price of Bitcoin and altcoins. In the past day, Bitcoin’s price plummeted to $60,500, marking its lowest point in almost three weeks. Altcoins such as SOL, TON, and UNI have also experienced sharp declines, with losses exceeding 5%. Additionally, Ethereum
Toronto-based Bitcoin mining company Bitfarms has been making significant strides in increasing its operational hash rate. By the end of July, the company’s hash rate had reached an impressive 11.1 EH/s, representing a remarkable 109% year-over-year increase. This growth is even more striking when considering the 7% rise in hash rate on a month-over-month basis.
MicroStrategy, known for being the largest public Bitcoin holder, recently announced plans to raise up to $2 billion through the sale of its class A shares. This significant move demonstrates the company’s commitment to using stock sales as a means to finance its ongoing Bitcoin acquisitions. With a focus on “general corporate purposes, including the
Futu Securities International, the largest online broker in Hong Kong, has recently ventured into retail cryptocurrency trading in the city-state. This move aims to attract investors by offering shares of popular companies like Alibaba Group Holding and Nvidia. This development allows residents of Hong Kong to easily trade bitcoin and ether using either Hong Kong
Recently, the price of XRP has experienced a significant drop from $0.66 to around $0.56. This decline has raised concerns within the cryptocurrency community, with many speculating about the potential for further downtrend. The bearish pattern observed on the XRP/BTC pair has added to the pessimism, indicating a possible continuation of the negative trend. Veteran
The recent performance of Ethereum has not been particularly impressive, with a 3% loss in the past week. The inability to maintain support at $3,300 has shifted the current support level to $2,800. This downward trend has been exacerbated by a bearish market sentiment, as indicated by the MACD and RSI indicators. Sellers are currently
The decentralized finance (DeFi) sector has been experiencing a resurgence, with notable growth in key metrics such as active loans and total value locked (TVL) from their lows in 2023. DeFi lending, a crucial aspect that allows investors to lend their crypto assets in exchange for interest, serves as an important indicator of DeFi participation
The recent Bitcoin2024 conference, according to Bitwise CIO Matt Hougan, has sparked a new perspective on the potential upside of Bitcoin. In a bold call to crypto investors, Hougan stated that the market is “not bullish enough” about the flagship cryptocurrency. This statement comes in the midst of ongoing volatility and regulatory uncertainty in the
Recent data on Ethereum exchange-traded funds (ETFs) in the US reveals a concerning trend of net outflows. On one particular day, the nine spot Ethereum ETFs experienced a total outflow of $77.21 million, marking a significant reversal from the previous day’s positive activity. This comes at a time when the price of Ether has struggled