Bitcoin’s price action has often been compared to that of other assets, particularly gold and tech stocks. The narrative of “Bitcoin trades in tandem with tech stocks” was prevalent in 2022 and early 2023 when a correlation existed between the two. However, since that correlation has broken down, there hasn’t been much news coverage. Now,
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Bitcoin’s sudden 15% surge towards $30,300 between June 19 and June 21 caused $125 million in liquidations of leveraged short futures contracts, taking traders by surprise. While pinpointing the exact cause of the rally is complicated, some analysts suggest that an inflow of institutional investors could be a potential trigger if BlackRock’s exchange-traded fund (ETF)
Iris Energy, a Nasdaq-listed Bitcoin mining company, has revealed its plans to expand its operations to meet the growing demand for data centers for Artificial Intelligence (AI) applications. Expansion Plans In a press release, the company announced that it will expand to 9.1 EH/s (exahashes per second) and revamp its high-performance computing (HPC) data center
During an interview with Yahoo Finance on June 22, US Senator Cynthia Lummis criticized the Securities and Exchange Commission’s (SEC) recent enforcement action against cryptocurrency exchange Coinbase, despite the company’s attempts to comply with regulators. She was perplexed as to why the SEC would take such action against Coinbase when the company had publicly shown
Bitcoin (BTC) saw a sudden surge in price to $138,000 on Binance.US during the early hours of June 21. However, the spike was very brief and lasted only seconds before returning to its normal level. The flash-pump was specific to the exchange’s BTC/USDT trading pair, while other assets continued trading at their usual levels. SEC
According to experts, Russia is reportedly becoming a crypto mining hotspot. The nation claims its crypto mining hashrate is second only to that of the USA. Nikita Zuborev, a Senior Analyst at the domestic crypto platform BestChange, said that there are many advantages of mining crypto in Russia. One of which is relatively low electricity
According to Martin El-Khouri, a senior director at venture capital firm Bertelsmann Investments, Web3 investments are being touted as the perfect hedge against disruption in the tech industry. Despite the regulatory challenges and market downturn, investors are continuing to back new ventures in the Web3 space, with decentralized finance (DeFi) startups seeing a surge in
Pepecoin, a frog-themed token on Ethereum, rose to prominence in May 2023, leading the memecoin hype on Ethereum. While many copycats of dog-themed tokens, such as Shiba Inu and Floki, have challenged Dogecoin’s position over the years but eventually faded, Pepecoin could be the newest contender to Dogecoin in the memecoin sector. Pepecoin’s Performance Compared
The crypto market has recently experienced a positive macro event, resulting in a scaled-back market valuation of $1.19 trillion. Bitcoin is leading the way in this major uptrend, making a strong comeback to the $30,000 price tag. However, it is not the only main beneficiary of this bullish sentiment. Ethereum Classic, a popular proof-of-work (PoW)
Bitcoin (BTC) has continued to maintain its price action around $30,000 as traders await the cryptocurrency’s next move. The market has experienced a second day of sideways trading following the prior upside that stalled close to the yearly high at $31,000. Traders are trying to predict the cryptocurrency’s next targets, but there has been no