In the latest crypto market update, Bitcoin has surged past $65,000 following signals from Federal Reserve Chairman Jerome Powell that rate cuts may be on the horizon. Powell’s comments on cooling inflation and concerns about labor market weakness have fueled optimism among investors, pushing Bitcoin’s price up by over 6.79%
In a court filing, Robert F. Kennedy (RFK) Jr., a politician who has been vocal in his support for Bitcoin and who ran for president before, confirmed that he would back Donald Trump. The court filing officially confirmed what many political analysts had suspected all along, and they had been
A recent research from JPMorgan states that Bitcoin miners are finding it difficult to maintain profit due to the April halving of the Bitcoin network and increasing power prices. According to a report written by analysts Reginald Smith and Charles Pearce, the Q2 of 2023 was a historic quarter for
The most powerful indication of Fed rate reduction came from US Federal Reserve Chair Jerome Powell during his Friday address in Jackson Hole. Following the recent publication of the FOMC Minutes, the stock and cryptocurrency markets were already in a bullish mood. But Powell’s statement that “The time has come
U.S. spot bitcoin ETFs have now had six consecutive days of positive inflows, with Thursday’s data showing net inflows of $64.91 million. SoSoValue data shows that on Thursday, the biggest inflow among the funds was $75.49 million into BlackRock’s IBIT, the biggest spot bitcoin ETF by net assets. A total
The crypto market has briefly recovered from the recent dip, and the global crypto market cap has spiked by 0.75% to $2.15 trillion over the last day. Leading cryptocurrencies have recovered moderately from their support levels. Among them, Bitcoin (BTC) has soared 0.39% within the last 24 hours. Bitcoin’s price
Bitcoin exchange inflows, defined as the total amount of Bitcoin delivered to exchanges, have declined sharply since early August, notwithstanding transfers from the Mt. Gox bankruptcy estate and concerns of a US government sell-off. Almost 94,000 Bitcoin were delivered to exchanges on August 4, followed by about 49,000 Bitcoin on
Some have taken the release of the US Federal Reserve’s meeting minutes from July as more confirmation of a rate decrease in September. However in the hours after the release, Bitcoin futures traders added over a billion dollars to Bitcoin Open Interest (OI). With a gain of $1.26 billion in
The cryptocurrency industry has emerged as a significant player in US political financing, with firms spending over $119 million on federal elections. This substantial investment underscores the sector’s growing influence and its keen interest in shaping regulatory policies that could impact its future. Furthermore, the $119 million figure encompasses direct
Bitcoin (BTC) has displayed a surge of approximately 5% within the past 24 hours, climbing from a low of $58,893 to a high of $61,834. This rise follows a period of consolidation, with Bitcoin briefly nearing the $62,000 zone before experiencing a slight dip. At the time of writing, Bitcoin
