Bitcoin

The Federal Reserve holds its FOMC meeting Tuesday and Wednesday, when inflation data will be released. Interest rates are expected to stay as is, but market uncertainty as to the Fed’s future predictions and actions is causing risk assets such as Bitcoin to fall in anticipation. Confusing jobs data Mixed, and some say confusing recent jobs data, did nothing to clear the muddy economic waters for the US. Supposedly, 270k non-farm payroll jobs were created for the month of May,…

Bitcoin mining firm Bitfarms has implemented a shareholder rights plan to protect its shareholders’ interests amidst an unsolicited takeover bid from another Bitcoin miner—Riot Platforms. This move follows Riot Platforms’ increased stake in Bitfarms and their offer to acquire all outstanding shares. Bitfarms’ Strategic Defense Amid Hostile Takeover Attempts Bitfarms’ strategy, known as a “poison pill,” aims to prevent hostile takeovers by making such deals prohibitively expensive for the acquirer. This tactic ensures Bitfarms can continue its strategic review process…

Bitcoin is predicted to reach over $100,000 in the next 7-10 days. The current market correction is viewed as largely complete, with significant growth on the horizon. Following recent predictions and market movements, significant shifts are occurring within the Bitcoin ecosystem. Notably, on-chain data shows movements from long-dormant Bitcoin wallets, sparking speculation and potential market shifts. According to a CNF post, predictions now point to a potential peak of $350,000 post-halving, underscoring the optimistic sentiment pervading the market. According to…

Bitcoin price failed to stay above the $68,500 support zone. BTC extended losses and now showing bearish signs below the $68,800 level. Bitcoin started another decline from the $70,150 resistance zone. The price is trading below $68,800 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $69,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could further if there is a clear move below the…

On early Tuesday, Bitcoin’s value dropped sharply to $67,900. This marked a decline of over 3.3% from its Monday peak of approximately $71,200.  This downturn coincided with significant changes in the flow of funds within Bitcoin exchange-traded funds (ETFs), which switched to negative flows after 19 consecutive days of positive inflows. Bitcoin’s Price Drops Causes Over $100 Million in Liquidations According to data from Farside Investors, Fidelity Wise Origin Bitcoin Fund (FBTC) reported an outflow of $3 million. Similarly, the…

DeFi Technologies Inc., a leading Canadian financial technology (fintech) company, has embraced Bitcoin (BTC) as its primary treasury reserve asset. This strategic move involves an initial purchase of 110 BTC, which signifies the company’s integration of traditional capital markets with decentralized finance (DeFi). The decision aligns with the broader trend of companies seeking portfolio diversification and alternative revenue streams amid changing economic conditions. DeFi Technologies Invests in Bitcoin as a Hedge Against Inflation Recognizing Bitcoin as a major asset class…

According to this on-chain indicator, an analyst explained how the next potential local top for Bitcoin could be $89,200. Bitcoin CVDD “Assessing Tops” Metric Could Suggest Next Potential Top In a new post on X, analyst Ali Martinez has talked about where the next top for BTC could be based on the Cumulative Value Days Destroyed (CVDD). The CVDD is an on-chain metric derived from the “Coin Days Destroyed” (CDD). A “coin day” is the quantity that 1 BTC accumulates…

Javier Milei’s administration does not plan to adopt bitcoin as Argentina’s currency, focusing instead on dollarization. Discussions with El Salvador focused on regulatory frameworks for crypto, not adopting bitcoin as legal tender in Argentina. In the wake of Javier Milei’s election, various reports have surfaced, inaccurately portraying his administration’s stance toward bitcoin in Argentina. Contrary to these claims, Milei is not steering Argentina towards adopting bitcoin as its standard currency. Misinterpretations of Milei’s Bitcoin Policy Recent headlines have sparked confusion…

The post Ethereum ETF Poised to Steal 20% Of Bitcoin ETF’s Money Flow, Here’s Why appeared first on Coinpedia Fintech News Last week, U.S. Bitcoin ETFs saw a record $1.8 billion in inflows, marking their 19th consecutive day of increased demand. Many people in the crypto community think that once Spot Ethereum ETFs go live, Ethereum could attract 10% to 20% of the money currently flowing into spot Bitcoin ETFs.  As, the agency is reviewing S-1 registration statements, which are…