The price of Bitcoin is facing significant downside risk as over $1.4 billion worth of options contracts are set to expire on August 16, potentially pushing the cryptocurrency below a critical support level of $56,000. With Bitcoin currently trading around $58,101, down 3.6% in the past 24 hours, the market is bracing for heightened volatility...
Mox, a virtual bank based in Hong Kong and a subsidiary of Standard Chartered, has become the first bank of its kind to offer direct trading of spot Bitcoin and Ether exchange-traded funds (ETFs) to its customers. Announced on August 7, Mox’s new service includes spot crypto ETF trading, with plans to expand its offerings...
Ethereum and Bitcoin are witnessing a significant drop in transaction fees, hitting multi-month lows despite sustained high network activity. This comes during one of the most challenging weeks for the broader crypto market in 2024, with Bitcoin falling below $63,000 and many altcoins suffering double-digit losses. Ethereum’s gas prices, the fees required for transactions on...
Germany has caused a significant stir in the cryptocurrency community by unloading over $54 million worth of Bitcoin in a single day. On June 25, the German Government’s (BKA) cryptocurrency wallet sold 900 BTC through three transactions, potentially putting downward pressure on Bitcoin’s price, which could drop below $60,000. The initial two transactions involved 200...
Bitcoin miners are increasingly turning to artificial intelligence (AI) for additional revenue streams. On Monday, Core Scientific signed a 12-year deal with cloud AI firm CoreWeave to host the company’s high-performance computing (HPC) operations. This partnership builds on a previous agreement from 2019 between Core Scientific and the Nvidia-backed AI company. Under this arrangement, the...
The recent approval of Spot Bitcoin ETFs has been described by Goldman Sachs as a significant psychological milestone for the digital asset market. According to Matthew McDermott, Goldman Sachs’ global head of crypto, this approval has revitalized the market, drawing considerable interest from institutional investors. The U.S. Securities and Exchange Commission’s (SEC) unexpected approval of...
Argentina’s National Securities Commission (CNV) is turning to El Salvador for insights on Bitcoin adoption. Over the weekend, CNV confirmed discussions with Salvadoran regulators, exploring how to integrate Bitcoin into Argentina’s financial system. In 2021, El Salvador made headlines by adopting Bitcoin as legal tender alongside the U.S. dollar. This move has positioned the nation...
US spot Bitcoin ETFs attracted a combined $303 million in net inflows on May 15, signaling growing institutional interest in Bitcoin. Leading this surge was Fidelity’s ETF, which secured $131 million in net inflows, according to SoSo Value data. Bitwise and Grayscale followed with $86.26 million and $27.05 million, respectively. Surprisingly, the iShares Bitcoin Trust...
Bitcoin (BTC) has surged over 6%, surpassing $66,000 following the release of the US Consumer Price Index (CPI) data on May 15. Currently, BTC is trading at $65,780 with a market cap of $1.295 trillion. This price increase is seen as a significant breakout above the $64,000 resistance level, potentially setting the stage for further...
In a significant turn of events, Bitcoin transaction fees have plummeted from a staggering $146 to just over $10 for medium-priority transactions, following the recent halving event that typically influences both transaction costs and miner earnings. Just last week, Bitcoin users experienced a sharp increase in transaction fees, with medium-priority transactions costing upwards of $146...
