Nayib Bukele, the President of El Salvador, began his second term with a pledge to tackle the nation’s economic challenges with the same determination he displayed in combating gang violence during his first term. Despite controversy surrounding his re-election, Bukele, who won with over 80% of the vote, aims to heal the country’s economic “ailments”. … Read more
According to crypto trader Peter Brandt, Bitcoin (BTC) is currently experiencing a downturn, with its price at $68,589. Brandt suggests that based on the trajectory of previous post-halving bull markets, Bitcoin could potentially peak between $130,000 to $150,000 in late August to early September. The Bitcoin halving, which occurs approximately every four years, is a … Read more
Recently, there has been a noticeable increase in investor confidence within the cryptocurrency market, benefiting Bitcoin significantly. Despite some ups and downs in its price, large-scale investors have been consistently accumulating BTC. Although Bitcoin’s price in May didn’t sustain above the psychological barrier of $70,000, it approached this level multiple times in the final weeks … Read more
Bitcoin (BTC) saw a downturn, dropping to $67,500 by June 1, missing a chance for a breakthrough at a crucial resistance level due to last-minute price volatility. Despite positive U.S. macroeconomic data, particularly the Personal Consumption Expenditures (PCE) index showing a slowdown in inflation, investor sentiment wasn’t significantly buoyed. Popular trader Skew noted that the … Read more
In a notable move, Tether, the issuer of the popular stablecoin USDT, has invested $100 million in Bitdeer Technologies Group, a US-listed Bitcoin miner owned by Chinese billionaire Jihan Wu. The deal also includes the option for Tether to acquire an extra $50 million worth of shares within the next year, further solidifying its foothold … Read more
The debut of spot Bitcoin ETFs in January 2024 marked a significant turning point for the cryptocurrency market, according to experts like Lynn Martin, president of the New York Stock Exchange Group. These exchange-traded funds are being hailed for their role in boosting liquidity and driving wider acceptance of cryptocurrencies among the general public. During … Read more
Unlike previous Bitcoin halving events, the fourth halving saw a distinct change. While miners now receive reduced block subsidy rewards from 6.25 BTC to 3.125 BTC, they still earn additional rewards from transaction fees per block. Historically, Bitcoin’s hash rate dropped after halving due to insufficient transaction fee rewards. However, this time, the hash rate … Read more
Gabor Gurbacs, a strategic advisor at Tether, which issues USDT, highlighted Bitcoin’s capacity to transform the way central banks manage and safeguard national reserves. He cited India’s logistical difficulties with gold as a notable illustration of this potential. An Electronic Alternative To Conventional Gold Transportation The decision by India to return a sizable amount of … Read more
On Friday, Japanese Bitcoin exchange DMM experienced a significant hack resulting in the loss of 4,502.9 Bitcoin, valued at approximately $305 million USD. The exchange confirmed the unauthorized breach in a public statement, stating that they are still investigating the extent of the damage and have implemented measures to enhance security, including restrictions on certain … Read more
In the last 24 hours, a Bitcoin whale transferred 1,519 BTC, valued at over $104 million, to the centralized exchange Kraken, following a series of other whale transactions. Concurrently, BlackRock’s spot Bitcoin ETF is nearing all-time highs in assets under management (AUM). Prior to the 1,519 BTC transfer, Kraken’s wallets initiated several significant transfers ranging … Read more