Bitcoin (BTC), and the broader crypto market, suffered a horrendous meltdown on Monday, shedding over 10% off its value amid expectations of an even more aggressive Federal Reserve rate hike prospect as inflation rages. The benchmark cryptocurrency slumped to the $20,800 low in the Asian session on Tuesday but pared back some of its losses […]
One of the “Big Four” accounting firms, PWC published some notable forecasts for Bitcoin and the cryptocurrency market in its “4th Annual Global Crypto Hedge Fund Report” last week. This report had shared input from the Alternative Investment Management Association (AIMA) and Elwood Asset Management. The report was the result of a survey carried out […]
On-chain reports show that Bitcoin (BTC) investors continue accumulating more coins despite the persistent downtrend. The benchmark cryptocurrency currently trades over 50% lower from its all-time high of $69,000. Many analysts argue that the recent increased BTC accumulation could be an early pointer to an imminent bull run. The latest report from on-chain analytics provider […]
New reports show that Bitcoin (BTC) suffered most of its selling volume since April in the US session. Active traders in the US session are majorly responsible for the selling pressure seen in the market, while Asian traders are responsible for the opposite. According to the report, Asian session traders mostly pump the digital currency […]
A retirement company has sued the US Department of Labor (DOL) and Secretary of Labor Martin Walsh over the agency’s Compliance Assistance Release No. 2022-01 guidance. This guidance, titled “401(k) Plan Investments in ‘Cryptocurrencies,” was introduced to prevent retirement investment providers from offering crypto plans on March 10. The lawsuit by Forusall Inc. argues that […]
MicroStrategy CEO Michael Saylor recently argued that the long-term prospects of Bitcoin (BTC) remain intact, regardless of whatever occurs in the near term. Saylor noted that Bitcoin’s near-term volatility is irrelevant considering the fundamentals backing the leading cryptocurrency. Speaking at an interview with The Block last week, the MicroStrategy boss noted: “Bitcoin is the most […]
Bitcoin (BTC) suffered a 5.5% 24-hour slump on Thursday, erasing every gain accrued since Monday. This slump came as investors braced for additional monetary tightening by the US Federal Reserve. The benchmark cryptocurrency tapped the $29,300 low from the $32,000 top yesterday but has since rebounded towards the $30,000 mark. As mentioned earlier, the slump […]
Bitcoin (BTC) continues to battle with an aggressive bearish sentiment, as the benchmark cryptocurrency refreshed its $29,000 low in the Asian session yesterday. On-chain analytics provider Glassnode recently published a report that shows that BTC has traded lower for eight consecutive weeks so far, labeling it the longest “continuous string of red weekly candles in […]
The cryptocurrency market suffered another bearish blow in the last 24 hours, as Bitcoin (BTC) dropped below the $29,000 low again and Ethereum below the $2,000 mark. The renewed bearish sentiment comes amid a sharp decline in the stock market, as stock indexes fall to yearly lows. Wall Street suffered a negative trading session yesterday, […]
