BTC

Bitcoin (BTC) fell below the $60,000 price level once again as bearish pressure pushed the price below $59,000. This indicates that bears are very active at higher levels, leading to buyers losing momentum.  BTC retreated after the Consumer Price Data was published. According to statistics from the US Bureau of Labor, the CPI Index rose by 0.2% in July, up from a decline of 0.1% in June. Another factor contributing to BTC’s price drop was the withdrawal of $1 billion…

Fear is running through the crypto market as the $BTC price continues to fall. Large $BTC transfers from the U.S. government and Mt.Gox wallets are causing consternation. Bitcoin is on the brink once again at $58,000. Is another crash lower about to take place? Large-scale selling about to happen? According to Arkham Intel, 10,000 $BTC, originating from the notorious Silk Road operation, and belonging to the U.S. Government, were sent to a Coinbase Prime deposit wallet on Wednesday. This could…

The post Is Bitcoin (BTC) Price Heading for $70K Breakout or $40K Crash? appeared first on Coinpedia Fintech News Bitcoin (BTC) price slipped 4 percent in the past 24 hours to trade about $58,413 on Thursday, during the early Asian session. Therefore, the flagship coin is currently retesting the support level around $58k after being rejected severally at the resistance range between $61k and $62k.  Following the recent daily death-cross between the 50 and 200 Moving Averages (MAs), the fear…

On Wednesday, the crypto market experienced a wave of volatility as news broke that the US government had transferred a significant amount of Bitcoin seized from the infamous Silk Road marketplace to the Coinbase exchange. Massive Silk Road Bitcoin Influx To Coinbase According to on-chain data tracker Arkham, the US government recently moved 10,000 Bitcoin worth around $590 million from a known government wallet to a Coinbase Prime deposit address.  Notably, this transfer sparked a 3.3% dip in the Bitcoin…

The Consumer Price Index for July came below expectations, giving the Federal Reserve the green light to cut interest rates in September.  The headline CPI inflation came in at 2.9%, below the expected 3.0%. Meanwhile, core CPI came in at 3.2%, in line with the market expectations.    ? Just In: July US CPI annual inflation rises 2.9%, below expectations for 3.0%.Core CPI inflation increased 3.2% Y/Y, matching forecasts for a gain of 3.2%.The Fed has a green light to…

I In the evolving blockchain landscape, Babylon and bitSmiley are set to onboard Bitcoin into the Proof-of-Stake world and other blockchain economies. As Native BTC staked on Babylon increases, the potential of BTC LST assets is enormous yet underutilized. Enter bitSmiley, the key to unlocking this potential. Introducing first BTC-backed stablecoin with yield When a user deposits BTC into the bitSmiley protocol, the deposit details are sent to our MultiSig Wallet via an inscription. Concurrently, we stake the user’s BTC…

The post Will Bitcoin Crash? Whales Dump $600 Million of BTC appeared first on Coinpedia Fintech News Bitcoin (BTC), the world’s biggest cryptocurrency by market capitalization looks bearish and may crash once again. Today, on August 13, 2024, a prominent trader made a post on X (previously Twitter) that Bitcoin Whales have offloaded a significant Bitcoin as its price fell below $60,000. Why Bitcoin Can Crash? According to the post on X, these whales have offloaded a significant over 10,000…

The post Mt. Gox’s Last $34,822 BTC Payment: Will a Massive $2 Billion Bitcoin Dump Crash the Market? appeared first on Coinpedia Fintech News Mt. Gox repayment is in its final stage now. The insolvent exchange has tied up with 5 crypto exchanges to process the repayments for creditors since the 2011 hack. These exchanges include Bitbank, BitGo, Bistamp, Kraken and SBI VC trade, a Japanese exchange. Out of these 4 have already received and paid to most of the…

The post Bitcoin (BTC) Price At Risk of Dropping Below $50K Again : Here’s Why appeared first on Coinpedia Fintech News In the past 24 hours, the cryptocurrency market has grown by 1.6%, reaching a total value of $2.08 trillion. However, this gain is tempered by a recent sell-off from a peak of $2.15 trillion—just around the midpoint of the last 30 days. Although prices have risen since yesterday, there’s a noticeable selling trend as prices go up. The market…