Bitcoin

The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level. This downward move has raised concerns among bullish investors, suggesting a potential continuation of the downtrend toward the $44,000 support level.  Bitcoin’s failure to consolidate above and retest its all-time high (ATH) of $73,700, reached in March, has resulted in a retracement of over 20% on the monthly time frame. Bitcoin Price At Risk Crypto analyst “Blockchaineddbb” has provided a noteworthy assessment of the…

The post Bitcoin Spot ETFs See Significant Inflows Amid Market Rebound appeared first on Coinpedia Fintech News On July 5, 2024, Bitcoin spot ETFs experienced a substantial net inflow of $143 million, highlighting renewed investor interest amid recent market volatility. Bitcoin made a strong comeback from a low of $53,550, currently trading at $56,380 and sustaining above the critical $56,000 support level. Grayscale ETF (GBTC): Recorded a net outflow of $28.5713 million in a single day. Fidelity ETF (FBTC): Achieved…

The post Trump’s Return To Whitehouse To Trigger Bitcoin Surge appeared first on Coinpedia Fintech News Donald Trump’s potential return to the White House is expected to trigger a significant surge in Bitcoin’s value. The concept of a ‘Trump trade’ is increasingly gaining traction among crypto traders due to the former President’s perceived pro-crypto stance and policies. Bitcoin’s recent performance has been hindered by sales from miners and regulatory movements by US and German authorities, and the anticipated repayments from…

As Bitcoin faces strong headwinds, breaching two critical support levels at $60,000 and $56,500 in quick succession, it may, on the surface, appear that fear is gripping the market. There are reasons to be afraid, especially for coin holders leveraging BTC in decentralized finance (DeFi) protocols, looking to take out loans using the asset as their collateral. Fear Is Yet To Grip The Bitcoin Market Even as prices plunge, one on-chain analyst, taking to X, argues that the market is…

Bitcoin has recently exhibited resilience that has surprised many market spectators. Following a dismal drop to a 24-hour low of $53,898, Bitcoin clawed its way back above the $56,000 mark, up 1.6% in the past hour. This rebound has been catalyzed by the latest US NFP report revealing a surge in the unemployment rate, which has sparked a surge in buying activity, momentarily easing the bearish pressure. However, this recovery may not signal a sustained upward trend, as experts hint at…

In a significant development for the cryptocurrency industry, FTX, the exchange that collapsed in November 2022 under the leadership of convicted Sam Bankman-Fried, is preparing to distribute a staggering $16 billion in cash to its customers, which could lead to significant gains for Bitcoin (BTC) and Solana (SOL) prices.  Crypto researcher Xremlin has predicted that a considerable portion of this cash will flow back into the crypto market, serving as a catalyst for growth towards the end of the year. …

The cryptocurrency market experienced a substantial downturn on Friday, compounding the selling pressure witnessed over the past two weeks. The leading cryptocurrency, Bitcoin (BTC), retraced over 20% from its highs in June and May, dropping as low as $53,500.  The market decline was largely attributed to the long-awaited trustee overseeing the Mt. Gox bankruptcy, who announced the commencement of Bitcoin and Bitcoin Cash repayments to creditors affected by the infamous hack that resulted in billions in losses.  As a result,…

Argentina becomes attractive for Bitcoin mining due to lower energy costs and favorable tax conditions in Zapala. Joint venture between Brazilian and Argentine companies launches a sustainable mining project in Neuquén province in October. Recent increases in electricity tariffs in Paraguay have prompted Bitcoin miners and data centers to seek more cost-effective alternatives, with Argentina emerging as a new favorable location for their operations. This shift is driven by Argentina’s comparative advantages in energy and tax incentives, particularly in the…

Data shows users on social media platforms have been calling to sell Bitcoin after its latest crash, a signal that contrarian traders may be waiting for. Bitcoin Sentiment On Social Media Has Turned Quite Bearish According to data from the analytics firm Santiment, social media is showing historic levels of FUD amid the market drawdown. The indicator of interest here is the “Social Volume,” which basically tells us about the degree of discussion around a given topic or term that…