Bitcoin is back up again—and as a result, traders betting on a dip in the asset's price have had their positions liquidated.
TL;DR Bitcoin transaction fees are back on track after a brief spike caused by the launch of Runes. Runes on-chain activity and BTC transaction fees fell more than 97% in two weeks. The initial surge in activity on Runes created network congestion and significantly increased transaction fees.
BitMEX's Arthur Hayes said that the recent bitcoin slump was a "well-needed market cleansing."
Bitcoin's price surged toward $62,000 shortly after the U.S. government released its Nonfarm Payrolls report. The report, issued earlier today, indicated an unemployment rate for April of 3.9%, slightly above the anticipated 3.8%.
Heavily followed crypto trader Cold Blooded Shiller shared his thoughts on Bitcoin's (CRYPTO: BTC) short-term prospects, expressing skepticism about reclaiming the $62,000 mark. What Happened: In his latest tweet, Shiller expressed his belief that despite the positive momentum, the $62,000 mark still represents a bearish retest for the world's largest cryptocurrency.
Marathon Digital reported a significant year-on-year surge in its Bitcoin production last month, defying expectations surrounding the halving event. Bitcoin production increase In its April operational report, Marathon revealed that it produced 850 BTC, marking a notable 21% increase on the year-on-year metrics.
Logos, a decentralized and privacy-centric technology platform, recently inscribed its manifesto on the largest-ever Bitcoin block, measuring 3.99 MB.
This year marked a significant shift in the investment landscape, as the Securities and Exchange Commission (SEC) approved nine spot Bitcoin exchange-traded funds (ETFs) in January. This development has opened a pathway for investors to gain exposure to Bitcoin (BTC) through familiar investment vehicles, integrating cryptocurrency into the mainstream financial market.
Bitcoin whales have added over $2.9 billion worth of BTC, which helped it recover above the $60,000 mark, but can Bitcoin price close the week above $60,000?
Bitcoin is back above the $61,000 mark following a weaker-than-expected U.S. jobs report, which weakened the dollar.
13F filings continue to pour in and are a good gauge of institutional interest in bitcoin ETFs.
Following the recent cryptocurrency market crash, Bitcoin price is trying to recover, after dropping below $60,000. However, optimism exists among financial giants such as Robert Kiyosaki and Standard Chartered Bank who foresee BTC price reaching $100,000 by the end of 2024.
MilkyBull, a well-known personality in the world of cryptocurrency analysis, has drawn attention lately for his analysis of Bitcoin's price trajectory and his prediction of a situation that might cause more fear in the market. MilkyBull's analysis delves into the subtleties of Bitcoin's movement, identifying patterns and trends that could have a big impact on investor mood.
According to a recent survey by Fidelity Digital Assets, institutional investors, including US pension plans, are increasingly inclined to invest in crypto assets, including Bitcoin. The survey covered various institutional investor segments, including financial advisors, family offices, hedge funds, endowments, foundations, and pension funds.
Bitcoin's metrics revealed that it was undervalued, and historical trends hinted at the possibility of BTC touching $100K.
TL;DR Jack Dorsey reveals that Block is systematically buying Bitcoin every month. Block has adopted an investment strategy based on Dollar Cost Averaging (DCA). The strategy seeks to minimize risks and maximize long-term investment in Bitcoin.
The SEC said it will take more time to decide next steps on a proposed exchange-traded fund focused on carbon credit futures contracts and bitcoin.
The bitcoin market has shown itself to be very well supported, as the $60,000 level has been crucial. The market showing signs of hanging onto the level for support is a very good sign to say the least.
This downturn marks a critical juncture for Bitcoin, as its losses on the weekly chart have reached double digits, leaving many investors bracing for further declines, potentially toward the $50,000 mark. The month of April itself dealt Bitcoin its worst blow since the collapse of FTX in November 2022, registering a stark 16% decline in price.
After reaching a low of $56,500 on April 30, bitcoin climbed to a peak of $62,109 by Friday, May 3, in response to the previous downturn. This uptick resulted in the liquidation of $26.65 million in bitcoin short positions within just four hours, and approximately 48,962 traders found their positions liquidated over the last day.
Bitcoin, often hailed as the king of cryptocurrencies, holds hidden treasures beyond its monetary value. David Tse shed light on these underrated properties, particularly emphasizing Bitcoin's role as a global timestamping server.
Hong Kong firms invested $112m in US Bitcoin ETFs.
In comments that have stirred the cryptocurrency community, whistleblower Edward Snowden has once again voiced his concerns over Bitcoin‘s (CRYPTO: BTC) privacy protocols. What Happened: This reaction comes in the wake of zkSNACKs' announcement to discontinue its CoinJoin coordination service on Wasabi Wallet, which has been instrumental in enhancing transaction anonymity on the Bitcoin network.
Bitcoin bulls welcome some BTC price relief while whales get busy accumulating nearly 50,000 BTC at the local lows.
Leading international cross border bank, Standard Chartered has predicted steep price declines for Bitcoin, foreseeing a pessimistic future outlook for the pioneer cryptocurrency amidst broader market downturn. Bitcoin Could Plummet To $50,000 As of writing the price of Bitcoin is trading above $59,000, according to CoinMarketCap.
Edward Snowden, the well-known whistleblower, reiterated his long standing concerns about Bitcoin's privacy features, or the lack thereof in a recent post on X.
Bitcoin's price has surged past $62,000. The upswing was catalyzed by the recent US job market report.
In a dramatic turn of events following a tumultuous week for the cryptocurrency market, Bitcoin (BTC) has managed to claw its way back above the $60,000 threshold after briefly plunging near $57,000. This resurgence comes amid cautious optimism as a key metric suggests a potential rebound in the near term.
Bitcoin, crypto's top token, outperformed equities from tech giants like Amazon, Google, and Netflix over the last decade.
Both equities and gold have been trading lower since reaching highs in mid-April, the report said.
After a government employment report was published, showing unemployment is higher than expected, Bitcoin leaped over $61k.
A cryptocurrency analyst and trader is saying Bitcoin (BTC) may have reached a market bottom after correcting down into the high $50,000 range. The analyst pseudonymously known as Rekt Capital tells his 74,900 YouTube subscribers that Bitcoin's latest correction is the cycle's deepest, suggesting a further decline is unlikely.
Bitcoin, the first and largest cryptocurrency by market capitalization fell to lows of $56,500 earlier in the week as investors became jittery about the Fed interest rate decision.
Bitcoin hit a local low at $58,600, signaling potential market shifts.
Bitcoin jumped from $59,000 to $61,800 as unemployment slightly rose last months with less jobs added than expected.
TL;DR Bitcoin's value has dropped significantly after hitting an all-time high in late March, largely due to the influence of the “Fear and Greed Index” and a significant withdrawal from a principal investment vehicle. The Crypto Fear and Greed Index, which measures the collective emotional state of the cryptocurrency market, has fallen to 43, indicating “Fear”.
Yesterday at Microstrategy World: Bitcoin for corporations, Michael Saylor had multiple strong positive remarks on Bitcoin and its network. Saylor, categorically said Bitcoin is the best Cryptocurrency Network and not just the best crypto asset.
Hong Kong-based Yong Rong HK Asset Management Ltd has become the largest holder in BlackRock iShares Bitcoin ETF (IBIT), as per new data revealed by Bloomberg Intelligence analyst on Friday. Yong Rong Asset Management Bought $38M BlackRock Bitcoin ETF Bloomberg senior analyst Eric Balchunas revealed Yong Rong Asset Management based in Hong Kong purchased $38
Logos, a decentralized technology stack that has positioned itself for building self-sovereign virtual territories, inscribed the largest ever Bitcoin block on May 2nd, at 8:34 AM GMT+1. In a press release shared with CryptoDaily, Logos confirmed that the inscription will be followed by an Ordinals collection released later this year.
Logos has spread its cyberpunk manifesto through an Ordinals inscription in block 841,886 of the Bitcoin blockchain.
Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $59,000 level on Friday. Ethereum (CRYPTO: ETH) also edged higher, but remained below the key $3,000 mark this morning.
BTC price forecast: Bitcoin has made significant strides since dropping to test support at $56,500 this week. The sell-off which erased all post-halving gains, affected altcoins in the same way, with Ethereum sliding to seek support at $2,800.
Fidelity reveals pension funds exploring Bitcoin and crypto, managing massive $4.8 trillion in assets.
Bitcoin has hit its bottom, BTC billionaire Arthur Hayes argued. And now, he predicts markets will see "a slow grind higher.
On May 3, the Bitcoin network validated its largest block to date at block height 841,886, which included an inscription showcasing the technology stack dubbed Logos' manifesto. This block, similar to the one that previously held the record as the largest, was mined by Marathon.
The Bitcoin market rallied a bit during the early hours of Friday, as we continue to see a lot of questions are asked of the central banks around the world.
Pseudonymous researcher Alex Wacy predicts that Bitcoin (CRYPTO: BTC) has reached its bottom at $52,000, sparking discussions on the cryptocurrency's future. What Happened: In a recent analysis shared on May 2, Wacy observed the crypto community's focus on the $52,000 level for Bitcoin.
This time the founder of Ark Invest has made a very optimistic prediction.