Bitcoin

The post Bitcoin Dominance May Soon Hit 60%: Here’s How the Altcoins May React! appeared first on Coinpedia Fintech News In an interesting move, the Bitcoin price dropped and formed bottoms close to $60,500 in the early trading hours. This has slashed the other altcoins, including Ethereum, which fell below $3000 and is trying hard to reclaim the levels. While the recovery can be expected to prevail for a long time, it also displays the possibility of a bull trap…

The post Bitcoin Strategic Reserve Bill Receives Huge Support; 2200 Letters Sent To Senators To Support The Bill appeared first on Coinpedia Fintech News On July 31, Senator Cynthia Lummis introduced a groundbreaking bill aimed at creating a Bitcoin Strategic Reserve. This proposal seeks to establish a government fund dedicated to the decentralized digital asset, Bitcoin. Widespread Support for the Bill In just 48 hours, over 2,200 letters were sent to U.S. senators urging them to support Lummis’s bill. In…

According to data from CoinMarketCap, the price of Bitcoin (BTC) has taken a nosedive this week falling by 9.03% to trade below the $62,000 price mark. This negative price action brings the asset’s net gain over the last month to a mere 0.20%, indicating a period equally influenced by both buyers and sellers. As Bitcoin now attempts to find a support level, blockchain analytics platform CryptoQuant has revealed certain elating developments in the token mining space. Bitcoin Miners Hashrate 2% Away…

The post Bitcoin Price Crashes 10%—Experts Predict Further Decline to $57K appeared first on Coinpedia Fintech News With the top three US indices falling by 1.5-2.5% on Friday, Bitcoin’s price has also dropped by 4.5%, currently trading at $61,873 with a market cap of $1.21 trillion. This downturn reflects a cautious sentiment among investors, who are opting to wait and watch rather than buy the dip. On the weekly chart, Bitcoin has experienced a 10% decline, with most of the…

The post Attention Traders! Bitcoin May Soon Be Oversold; Bulls Remain Passive—Will August Be a Bullish Month? appeared first on Coinpedia Fintech News The crypto markets are plunging as the Bitcoin price dropped and marked lows close to $60,500 in the early trading hours. This appears to have caused havoc within the markets as the global market capitalisation has dropped below $2.2 trillion. The bears have taken over the rally to a large extent, which exhibits the possibility of a…

Data shows the sentiment around XRP and Bitcoin is quite bullish currently, something that can actually be to the detriment of their prices. XRP & Bitcoin Among Coins Observing Positive Sentiment Right Now According to data from the analytics firm Santiment, the top cap cryptocurrencies are mainly observing the investors hold a bullish outlook. The indicator of interest here is the “Weighted Sentiment,” which basically tells us about the net sentiment around an asset that’s currently present on social media…

In a recent interview with Fox News, former President Donald Trump voiced support for using Bitcoin as a tool to help pay down the United States’ $35 trillion national debt as he positions himself for a potential 2024 presidential re-election, while also signaling a notable shift in the Republican party’s stance on digital assets. Trump’s Strategy To Tackle $35 Trillion Debt With Bitcoin “Crypto is a very interesting thing, very high level in certain ways, intellectually very high level,” Trump…

Bitcoin’s (BTC) attempt at a modest rally during US trading hours on Friday was swiftly quashed. The largest cryptocurrency experienced a sharp drop, falling from $65,000 to below $62,000. This sudden decline triggered a wave of liquidations, erasing $290 million in both long and short positions over the past 24 hours. Bitcoin Sinks Below $62,000 The recovery rally ahead of the FOMC meeting and positive July CPI data fostered a bullish sentiment. However, the long-anticipated rate cut was delayed, with…

In the Bitcoin and the overall crypto market, August has long been observed as a quieter month, with historical data showing a consistent downturn in both activity and asset value during this time of the year. Coinbase’s analysis further highlights this pattern in its latest weekly report. According to Coinbase analysts David Duong and David Han, there is a noticeable reduction in trading volumes and a decrease in the market’s dynamism that characterizes the month. An Impending Major Dip For…