With Bitcoin still below $80,000 and other altcoins suffering steep losses, Thursday’s crypto market was muted. After falling as low as $78,720 on Wednesday, the biggest cryptocurrency was lately trading around $79,800. Most importantly, it is still trading below the weekly open price of $82,500. Rising Inflation Concerns and Global Political
It seems like a major momentum that was intended to propel bitcoin’s spectacular surge above $80,000 is starting to fade. After collecting $3.29 billion from investors in March and April, eleven U.S.-listed spot bitcoin ETFs have begun to bleed capital. The most significant single-day net outflow since January 29 occurred
Nakamoto, a Bitcoin firm, completed two significant strategic acquisitions in February to broaden its reach throughout the Bitcoin ecosystem. As a result, the company’s Q1 revenue increased by 500% compared to the previous quarter. Despite posting a net loss of $238.8 million, Nakamoto CEO David Bailey said on Wednesday that
The 200-day Simple Moving Average (SMA) at $82,455 and the 200-day Exponential Moving Average (EMA) at $82,027 are two prominent long-term trend indicators that Bitcoin is trading narrowly below, as seen by Glassnode data. This indicates that Bitcoin is engaged in a crucial technical struggle. At the time of writing,
As a result of global events, Bitcoin saw traditional end-of-week volatility, with a price that momentarily surpassed $82,000. Unfortunately, the increase was short-lived, according to CMC data, as BTC/USD swiftly dropped back around the $80,000 level. As a consequence, liquidity grabs occurred, which balanced out the long and short positions in
After suggesting on Tuesday’s earnings call that the Bitcoin treasury firm would sell off some of its holdings occasionally, Strategy co-founder Michael Saylor hinted that the firm may start buying Bitcoin again this week. Saylor used the phrase “back to work, BTC” in a Sunday X post, which has been
As Bitcoin fell below $80,000, US-listed spot Bitcoin (BTC) ETFs ended a five-day influx of roughly $1.7 billion. According to SoSoValue statistics, Bitcoin funds had their first daily outflow in May of $277.5 million on Thursday. According to Farside, the top two funds in terms of outflows were the Fidelity Wise
There was a brief period of volatility in the cryptocurrency market on Tuesday night when Strategy (MSTR) chairman Michael Saylor said that his business would sell bitcoin to pay dividends from the STRC instrument. This announcement caused the market to be turbulent. But on Wednesday morning in Europe, after rising by
Raising $2.2 billion for its sixth crypto-focused fund, the crypto-focused branch of venture capital company Andreessen Horowitz is now funding crypto startups. The fifth Crypto Fund, according to a Tuesday blog post by a16z Crypto, will support entrepreneurs that are “turning new infrastructure into products people use every day.” This
In a departure from its long-standing “never sell” Bitcoin policy, Michael Saylor, chairman of Strategy, said that the firm may sell Bitcoin in order to “inoculate” the market against unexpected panic or to strengthen trust in the business. When asked about the strategy’s plans for the first quarter, Saylor said,
