Bitcoin

Bitcoin Layer-2 (L2) solutions are attracting significant investment and gaining user attention. This growing traction suggests that the markets could be on the brink of a new narrative. With ongoing development and investment in Bitcoin L2 technologies, a new chapter in the Bitcoin story may unfold. Bitcoin Layer-2s Keep Gaining Traction According to recent report by Michael Novogratz’s Galaxy, Bitcoin Layer-2 projects collectively raised an impressive $94.6 million in the second quarter of 2024. This represents a substantial 174% increase…

Matt Hougan, Chief Investment Officer (CIO) of Bitwise, claims in a new memo to investors following the 2024 Bitcoin Conference that the market may not be bullish enough about the future of BTC. The conference was a watershed moment that attracted massive political attention and could influence the future trajectory of Bitcoin heavily. Why You Are Not Bullish Enough On Bitcoin The conference featured a number of groundbreaking statements from high-profile political figures. First and foremost, GOP’s presidential candidate Donald…

In the wake of the highly anticipated address by Federal Reserve Chair Jerome Powell, Bitcoin (BTC) maintained a steady course on Wednesday as the Fed opted to keep interest rates unchanged at 5.25%-5.50%.  Crypto Market Awaits Fed’s Next Move Powell, speaking at a press conference in Washington DC, hinted at the possibility of rate reductions in September, contingent upon the economic performance in the weeks leading up to that month. “We’ve made no decisions about future meetings and that includes…

The Bitcoin price fell to $63,500 as the Federal Reserve announced that interest rates would stay the same. However, future rate cuts are being signalled, and the stock market surged on this news. Are the signs there that Bitcoin is about to follow suit? Noise is obscuring the obvious Noise, noise, and more noise is enveloping the markets. Will the Fed signal a future rate cut (it did)? How much of the Mt. Gox $BTC will be sold? Will the…

Bitcoin (BTC) held above $66,000 after the Federal Open Market Committee’s (FOMC) decision on Wednesday. The Federal Reserve (Fed) decided to keep interest rates unchanged at 5.25%—5.50% for the eighth consecutive meeting. The Fed’s decision comes amid cautious optimism after indicating no rush to lower rates until it has gained greater confidence inflation is moving sustainably toward its 2% target.  Fed Leaves Interest Rates Unchanged The FOMC voted unanimously to keep its benchmark overnight borrowing rate between 5.25% and 5.50%.…

Senator Cynthia Lummis (R-WY) has introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act. This bill seeks to establish a Bitcoin reserve, reflecting strategies typically used for commodities like oil and gold. The BITCOIN Act proposes a decentralized network of secure Bitcoin vaults under the US Department of Treasury’s oversight. It aims to ensure top-tier physical and cybersecurity for the nation’s Bitcoin assets. Bitcoin Price Drops Despite Lummis’ Proposal The legislation calls for a program to…

Mt. Gox exchange has made repayments in Bitcoin (BTC) and Bitcoin Cash (BCH) to more than 17,000 eligible rehabilitation creditors. Some have already confirmed receipt through designated cryptocurrency exchanges, such as Kraken. After a long wait, Mt. Gox and its creditors steadily approach the end of a decade-long ordeal, with markets bracing for impact. Mt. Gox Still Has Over 32,000 Bitcoin After making over 17,000 repayments, Mt. Gox still holds 32,899 Bitcoin, worth approximately $2.099 billion at current rates, Arkham…

Grayscale Investments has launched a new Bitcoin exchange-traded fund (ETF) with the lowest fee structure in the United States. The Grayscale Bitcoin Mini Trust, known by the ticker “BTC,” started trading on Wednesday on NYSE Arca. It has a competitive fee of 0.15%, the lowest amongst all spot Bitcoin ETFs. Grayscale Bitcoin Mini Trust Debuts on NYSE Arca This strategic launch of the mini-trust format provides a fresh investment avenue for Bitcoin ETF investors. This new trust aims to distribute…

The post Bitcoin Faces Strong Selling Pressure, Liquidations Surge to $56 Million After Fed Meeting appeared first on Coinpedia Fintech News On Wednesday, Fed Chair Jerome Powell decided to keep rates unchanged at 5.25-5.5% while hinting at the likelihood of a 25 bps rate cut in September if inflation data for July comes on the expected lines. This development turned out to be a sell-the-news event as along with BTC, altcoins have also been facing strong selling pressure leading to…