Bitcoin
Ether and Solana see $230M in Combined 24-Hr Liquidations as Bitcoin Clears $47,500
A late Sunday upward momentum has pushed the majority of cryptocurrencies in the market above previously challenging resistance zones. Bitcoin records a close above $47,200 The price of Bitcoin, the market leader, has increased by 6.29% in the last 24 hours as per market data at the time of writing. The flagship cryptocurrency cleared resistance at $47,000, breaking into the range of January highs late on Sunday. It maintained its uptrend into Monday, setting a new year-to-date high of $47,656 only a few hours ago as per CoinMarketCap data. The market swell appears to be a result of several bullish factors across the cryptocurrency sector. Most notable is the recent revelation of a $1o billion worth of Bitcoin ‘reserve’ plan by Terra blockchain founder Do Kwon. Another factor c...
Bitcoin retreats below $47k after closing in on its yearly high
Bitcoin climbed above $47,200 late on Sunday and continued hovering around this range in the morning Asian trading hours Analysts expect the Satoshi coin to maintain the uptrend in the short term The majority of cryptocurrencies in the market are trading in the green, having recorded decent profits on Sunday. Bitcoin, the market leader, surged from around $44,720 on 11:00pm (UTC +3 hours) Sunday to a multi-week high of $47,290 on 3:40am (UTC +3 hours) Monday as per CoinMarketCap data. Markedly, the ascent past $47,200 represents the first time Bitcoin hit breakeven since the turn of the year. After starting the year at $46,700, Bitcoin consistently posted gains in the first three days, peaking above $47,730. It has, however, failed to reclaim this level with every attempt – except ye...
Bitcoin on track to see its highest weekly close of 2022
Bitcoin (BTC) saw a fresh spike to near $45,000 overnight into March 27 as the weekend looked set to deliver a decisively bullish close. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Weekly close of key importance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD grinding back to higher levels seen days previously after a rejection at just above the $45,000 mark. While still within its extended trading range with $46,000 as its ceiling, the pair was still firmly on the radar of long-term traders as the weekly close drew near, this being apt to be Bitcoin’s highest of the year so far. BTC/USD 1-week candle chart (Bitstamp). Source: TradingView Popular trader and analyst Rekt Capital added that Bitcoin’s 21-week exponential moving average...
Top 5 cryptocurrencies to watch this week: BTC, ADA, AXS, LINK, FTT
Bitcoin (BTC) is attempting to notch its second successive weekly gains and end at the highest weekly closing price year-to-date. According to on-chain data from Glassnode, the recovery in Bitcoin’s price was driven by demand in the spot markets. This is likely to cheer the bulls because history suggests that spot market demand leads to sustained upside. Another positive sign is the strong demand for the ProShares Bitcoin Strategy exchange-traded fund (BITO) in the past two weeks, which pushed its exposure to a record high. Arcane Research said the strong inflows “suggest that Bitcoin appetite through traditional investment vehicles is increasing.” Crypto market data daily view. Source: Coin360 Along with Bitcoin, the broader crypto space is also attracting investors. According to re...
Dogecoin signals bottoming out as DOGE rebounds 30% in two weeks — What’s next?
A brutal correction witnessed in the Dogecoin (DOGE) market between May 2021 and February 2022, which saw the price dropping by almost 85%, appears to have come to a halt this month. DOGE/USD rebounds 30% in two weeks DOGE experienced strong dip-buying when its price crashed to levels around $0.10 two weeks ago, resulting in a 30% rebound move to $0.14 as of March 27. Meanwhile, the coin’s upside retracement originated at a support level that constitutes a “falling wedge” setup, signaling an extended bullish reversal in the weekly sessions ahead. In detail, a falling wedge pattern occurs when the price trends lower while fluctuating between two downward sloping, converging trendlines. In a perfect scenario, the setup results into the price breaking out of the descending r...
Bitcoin sellers keep BTC price action in check amid $45K ‘fakeout’ warning
Bitcoin (BTC) took a breather from its latest upside on March 26 after predicted resistance kicked in just under the yearly open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin fakeouts: Third time’s the charm? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering around $44,500 Saturday, preserving the lion’s share of the week’s progress. Traders had sounded the alarm on a possible retracement after a large sell wall appeared on major exchange Bitfinex. In the event, sell-side pressure prevailed, halting bulls’ advance at just above $45,000. “Still waiting to see how price trades around yearly open. The prev times I targeted it we came up short but got very close although this time looks better for BTC. Almost ...
Rapper Drake donates $1 Million in Bitcoin to the Lebron James Family Foundation
Drake revealed he recently won a bet while playing roulette on Stake, promising to donate the winnings Earlier this month, the Canadian rapper announced a live betting event in partnership with Stake.com, intending to give his winnings to fans I PROMISE School (IPS), under the Lebron James Family Foundation (LJFF), is set to receive a crypto donation from Hollywood phenomenon and Canadian rapper Drake. In an announcement posted on his Instagram page, Drake disclosed that the donation was part of winnings he collected playing roulette on Canadian cryptocurrency betting platform Stake.com. The music celebrity termed it his biggest hit ever. “Speaking of memorable nights, I had an incredible night last night playing roulette on Stake.com. It was my biggest hit ever,” he said, addi...
Did rapper YG just flex a $30M BTC stack in his new music video?
Keenon Dequan Ray Jackson, the rapper who goes by the name YG, appears to show off a fat $30 million stack of Bitcoin (BTC) in his latest music video. The reveal appears to either be an eye-watering — but possibly fake — flex, or a crafty bit of product placement, as a cold storage device from crypto wallet provider Ledger is featured prominently in the video. The social team from Ledger was on it immediately too: We see you! @YG knows how to secure those bags of #bitcoin … not your keys, no your coins. — Ledger (@Ledger) February 11, 2022 In one of the scenes of the music video for the song titled “Scared Money” featuring J. Cole and Moneybagg Yo, YG is seen holding a Ledger wallet close to a smartphone which has a screen bearing a wallet application with more than $30.6 million of BTC in...
Russia is looking towards Bitcoin as a payment form for energy exports
Energy official Pavel Zavalny says Russia has lost all interest in the Euro and dollar On Wednesday, President Putin demanded that all unfriendlies must pay for Russian energy exports in the ruble Recent reports suggest that Moscow is exploring ways to save its economy and get it back on track amidst heavy sanctions from the west. The country is now leveraging one of its most valuable exports – gas. Russia already made it a requirement that all non-friendly nations seeking to buy gas from it must pay in the Russian ruble, while friendlies like China and Turkey can pay in their fiat currencies or the ruble. Bitcoin as an option for the ‘allies’ According to a top government official, the nation is open to accepting Bitcoin as payment for oil and gas exports. Chairman of the Stat...
Exxon Mobil is using excess natural gas to power crypto mining: Report
United States-based energy producer Exxon Mobil has reportedly been running a pilot program aimed at using the energy from excess gas to power crypto mining rigs — and it may be expanding its operations to four other countries. In a Thursday report, Bloomberg said Exxon Mobil had inked a deal with Crusoe Energy to use excess gas from oil wells in North Dakota to run Bitcoin (BTC) miners. The project reportedly uses 18 million cubic feet of natural gas per month — roughly 0.4% of the oil giant’s reported operations in the state, producing 158 million cubic feet of natural gas each day. The company launched the pilot program in January 2021 and is now reportedly considering expanding to Nigeria, Argentina, Guyana, and Germany in addition to launching a similar project in Alaska. Cointelegrap...
SEC could approve spot Bitcoin ETFs as early as 2023 — Bloomberg analysts
Eric Balchunas and James Seyffart, exchange-traded fund (EFT) analysts for Bloomberg, said that a proposed rule change with the United States Securities and Exchange Commission (SEC) could be the catalyst for the regulatory body approving a spot Bitcoin ETF in mid-2023. In a Thursday tweet, Balchunas said crypto platforms could fall under the SEC’s regulatory framework if the commission were to approve the amendment to change the definition of “exchange” proposed in January. The rule change would amend the Exchange Act to include platforms “that make available for trading any type of security” — seemingly including cryptocurrencies, making their investment vehicles more palatable for the regulator. “Once crypto exchanges are compliant, the SEC’s primary reason for denying spot Bitcoi...
Ledger CEO claims that with increasing relevance Bitcoin could offer good exchange value
The Ledger chief says that Bitcoin has shown utility in situations of war beyond just Ukraine He insists the crypto utility that the Ukraine situation has shown is nothing new Ledger CEO Pascal Gauthier recently appeared on CNBC’s Squawk on the Street in an exchange that dwelt on several matters crypto and where the industry is headed. The impact of geopolitics The ongoing war resulting from the Kremlin’s incursion of Ukraine has been sort of a revelation for crypto in terms of sanction evasion and the cross-border utility of the assets. Perhaps the best illustration of this is the massive crypto donations that have been either made or pledged so far. The Ledger boss noted that even beyond Ukraine, places like Lebanon have often seen the rising utility of crypto since war often...
