The rapid increase in Bitcoin short positions met with a resounding rejection of Sunday’s effort by the price of Bitcoin to break out over $60,000 levels. Bitcoin shorts were active across many exchanges as soon as the price rose above $60,000. 24-hour short volumes surged 118% to over $18.30 billion.
A small but steady $30 million poured into digital asset investment products during the last week. This small number, however, masks a large variation between assets and geographies. Looking at the flows by geography reveals a lot of variation; the United States, Canada, and Brazil all had inflows of $62
Global investment giant Goldman Sachs Group, Inc. has lowered the probability of the U.S. entering a recession next year to 20% from its previous estimate of 25%. The firm has expressed increased confidence that the U.S. Federal Reserve will reduce interest rates by 25 basis points at its September policy
The results of TeraWulf’s second quarter, which were announced in August, were not entirely satisfactory. Revenue was up somewhat from the projected statistics. Even though the company’s Bitcoin production was down from the same time in 2023. In comparison to the same time last year, TeraWulf’s mining output decreased by
Prominent Bitcoin miner in North America, Hut 8 Corp. (HUT), released its Q2 financial results for the period ending June 30, 2024. A net loss of $71.9 million was recorded by the corporation, even though revenue increased by 72% year-over-year to $35.2 million. Revenue during the quarter ending June 30,
Bitcoin, the leading cryptocurrency, is currently navigating a period of uncertainty after recovering from a significant dip on August 5, triggered by a downturn in Japan’s stock market. Despite this recovery, Bitcoin has faced challenges in sustaining an upward trajectory, hovering between $60,000 and $62,000 and struggling to break past
Bitcoin naysayer Peter Schiff recently voiced his disapproval of the US’s present high inflation rates. Saying that policies put in place before Biden was president are to blame. Since the consequences of Biden’s actions will not be realized for at least a few more months. Schiff pointed out that there
This coming week, the crypto market will be watching for important events like the July FOMC Minutes and the Jackson Hole Retreat address by Fed Chair Jerome Powell. Given its potential influence on investor sentiment, the FOMC Minutes will certainly affect the mood of the market. The wider community also
Despite withdrawals in early August, demand in spot Bitcoin exchange-traded funds (ETFs) based in the US has persisted. Despite outflows in prior weeks, spot Bitcoin ETFs had a total weekly net inflow of $32.58 million on Aug. 16, according to data from SoSoValue. Net outflow of spot Bitcoin ETFs hit
Despite recent recovery efforts, the largest cryptocurrency, Bitcoin (BTC), seemingly extends losses in the market. Over the past 24 hours, the asset has struggled to clear the $60K level, and a low has formed near $57.5K. After a brief rebound, BTC is up by 1.42%, currently trading at $59,269, marking
