At the time this article was published, Bitcoin’s price had fallen to around $30,500 USD. The country made history in October of last year when it became the first country to accept Bitcoin as legal tender. However, El Salvador had prior investments in the crypto, bringing its total holdings to 2,301 Bitcoin. However, due to […]
Bitcoin’s current 20% drop over the past four days has put the price at its lowest level in nine months and while these movements might seem extraordinary, quite a number of large listed companies and commodities faced a similar correction. Federal Reserve reverted its expansionary incentives and now aims to reduce its balance sheet by […]
Treasury Undersecretary for Domestic Finance Nellie Liang in mid-February dived deeper into the risks and benefits of stablecoins, highlighting that they are not really backed dollar-for-dollar. In other crypto-related news, Argentina’s central bank had prohibited banks from offering digital assets services, according to a statement dated May 5. …Read the full story
Further, they have been maintaining low benchmark interest rates for years, a policy that they have started to reverse. Between rate hikes and asset sales, these financial institutions could have a significant impact on the global asset markets, which many believe have become inflated as a result of unprecedented stimulus. “Rising rates, a historic pace […]
The last time bitcoin traded below $30,000 was in July 2021, when the digital asset traded as low as $29,839.80. The crypto market, which trades 24-hours a day, is down nearly 10% in the last 24 hours, according to CoinMarketCap data. …Read the full story
The bitcoin price hasn’t had a good performance in the past few weeks, dropping as much as 20% in just 36 days since the end of its latest relief rally in late March. The red candle on the BTC/USD chart led MicroStrategy underwater as the Nasdaq-traded company saw the price dip below $30,700 – the […]
At time of writing, Bitcoin had fallen almost 20% in seven days, taking it to around $31,400, according to CoinGecko data. There are a few factors pushing Bitcoin’s price down, but they can be summed up in one word: uncertainty. So, what’s behind the uncertainty? First, sky-high inflation and the measures central banks are using […]
On Monday, Japan’s Nikkei index dropped 2.5%, while London’s FTSE 100 closed down more than 2%. …Read the full story
Are you interested in virtual currency, now trading at half the price it had last fall? Shop around. There are pros and cons to every means of getting cryptocurrency exposure, including the little outfit in Fairfield. This quasi-fund , created a little over a year ago, is a knock-off of the much better-known Grayscale Bitcoin […]
Risk-averse investors are shedding their volatile assets, such as crypto tokens and tech stocks, as the Federal Reserve moves forward with its plan to raise interest rates to fight inflation. The tech sector’s recent poor performance reflects a declining investor appetite for riskier holdings. Bitcoin’s 40-day performance correlation with the S&P 500 has hit a […]
This year, much of the policy debate has centered on the idea of spot Bitcoin ETFs. Elizabeth Warren, D-Mass., and Tina Smith, D-Minn., to send Fidelity a letter challenging the decision, pointing to Department of Labor guidance that warns of the risks such a move, and questioning whether Fidelity’s other activities — it has dabbled […]
There are two main factors driving pressure on bitcoin prices right now, Caleb Franzen, senior market analyst at Cubic Analytics, said to TechCrunch. The rising rate environment, paired with weakening economic activity, is creating a risk-off environment, Franzen added. Terraform Labs — emptied its treasury wallet of all of its bitcoin, about 42,530 bitcoin, or […]
The world’s largest digital token dropped as much as 2.7% on Monday and was trading at $33,741 as of 12:40 p.m. Tightening monetary policy and ebbing liquidity are turning investors away from speculative assets across global markets. The token would hit its lowest level since July 2021 if it weakens below $32,970. Follow HT Tech […]
Bitcoin’s price has suffered quite a bit since the end of March, losing over $15,000 in this period. However, it all changed when the asset initiated two massive weekly leg ups that resulted in nearing $50,000. Yet, what comes up must go down, as the saying goes. And it has closed with red weekly candles […]
Bitcoin and ethereum have dropped more than 10% over the last 24 hours, with bitcoin approaching $31,000 and ethereum trading near $2,300. It’s been a shaky start to the week for Bitcoin and other cryptocurrencies, largely driven by ongoing macroeconomic uncertainty. The crypto markets have been increasingly tracking the stock market, which has been trading […]
At a price of just below $31,000, bitcoin is more than 50% below its record high of near $69,000 from late last year and at its lowest point since July 2021. Other cryptocurrencies, sometimes referred to as altcoins, have been hit hard too. The surge in yields has also helped lift the value of the […]
In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world’s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower. Analysts from Glassnode also noted an influx of “urgent transactions” amid this latest sell-off, in which investors paid higher fees, indicating they were willing to […]
Since first breaking above $30,000 at the start of last year, this level has proved a firm platform from which bitcoin has bounced back from. A move of less than 5 per cent would take bitcoin back to this level, which is relatively minor by bitcoin’s notoriously volatile standards – it is down 8 per […]
