Furthermore, the upward trendline support above the $54,450 level underscores the buying trend’s strength. This is complemented by the 50-day Exponential Moving Average (EMA) at $47,818, which provides additional technical support, enhancing the bullish outlook. Resistance around the $61,500 mark represents a critical threshold. A breach above this level could signify a continuation of the...
The popular cryptocurrency exchange Coinbase experienced a major outage today, causing a brief dip in Bitcoin’s price. Interestingly, this crash has fueled fresh speculation about a potential Bitcoin bull run. The market appears to be drawing parallels with previous Coinbase crashes, which preceded major surges in Bitcoin’s price. Between 12:15 PM ET and 12:30 PM...
Bitcoin surged to an all-time high against the Chinese Yuan (CNY) today, propelled by a recent rally and growing anticipation surrounding the Bitcoin halving event. Bitcoin’s Value Fluctuates Across Global Markets In a recent post on X (formerly Twitter), Lex—a Bitcoin supporter—highlighted that Bitcoin’s recent all-time high reflects the failure of various central banks’ monetary...
US spot Bitcoin ETFs saw another all-time high in daily trading volume on Wednesday with $7.7 billion. BlackRock’s IBIT doubled its personal record on the third consecutive day with $3.3 billion in trading volume. Fidelity’s spot Bitcoin ETF also doubled its previous record with $1.4 billion trading volume on the same day, Bloomberg analyst James...
Morgan Stanley is considering adding spot Bitcoin exchange-traded funds (ETFs) to its brokerage platform and is currently in the process of conducting due diligence, according to a CoinDesk report citing two sources familiar with the matter. There has been increased interest in spot Bitcoin ETFs after the U.S. Securities and Exchange Commission approved almost a...
Bitcoin (BTC/USD) surged to $61,400, marking an impressive 8% increase on Thursday. This uptick coincides with Marathon Digital’s introduction of the Anduro Layer-2 network, aimed at amplifying Bitcoin’s scalability and fostering innovation within the digital currency sphere. As Bitcoin anticipates climbing to its highest monthly level since 2020, potentially surpassing the $69,000 mark, investors are...
Marathon Digital, a prominent Bitcoin (BTC) mining company based in the United States, has seen a remarkable surge in revenue in 2023, leading the company to achieve substantial profitability. On Wednesday, Marathon Digital unveiled its fourth-quarter and annual earnings report, revealing a record-breaking revenue of $387.5 million in 2023, a staggering 229% increase compared to the previous year. “2023...
El Salvador does not have plans to sell its Bitcoin (BTC) reserves at present, the pro-crypto nation’s President Nayib Bukele confirmed Wednesday. His remarks come after El Salvador’s Bitcoin holdings hit massive profit following Bitcoin’s notable increase in price recently. The crypto was trading around the $57,200 on Wednesday. In a post on X (Twitter),...
The Bitcoin (BTC) spot trading volume on centralized exchanges (CEXes) has reached the highest level of activity since the collapse of FTX. According to data provided by Kaiko, Bitcoin spot trading volume across all major CEXes hit an impressive $34.05 billion on February 28. Leading the charge, Binance accounted for $17.09 billion, solidifying its position as the dominant...
Bitcoin (BTC) miners are offloading part of their assets as they look towards the upcoming halving amid increased market activity and the rising Bitcoin price. New data from on-chain analytics firm Glassnode shows a drop in the amount of assets held by Bitcoin miners this year. The amount of Bitcoin in miner wallets has plunged by...