Bitcoin bulls made a comeback this week, surprising many investors after facing downward movements since the start of the month. Yesterday, BTC hit a five-week high of $67,700. In the past week, it surged 10.33%, and on a monthly timeline, it increased by 4%. The trading volume is up by
The Venezuelan government has stated its intention to detach cryptocurrency mining farms from the power grid in order to control the country’s excessive energy consumption and guarantee a steady supply of electricity to its residents. In an effort to combat corruption, the government recently confiscated 2,000 crypto mining devices, prompting
Despite Bitcoin’s recent surge to new all-time highs, renowned financial analyst Peter Schiff has once again shook up the cryptocurrency market by claiming the cryptocurrency is ‘dead’. In his most recent comments, Schiff, who is typically pessimistic about cryptocurrency, focused on the recent performance of bitcoin relative to silver, drawing
Fundraising in the cryptocurrency market reached $2.4 billion in the first quarter of 2024, thanks to a shift in market mood and fresh inflows. According to a recent PitchBook analysis, the cryptocurrency sector saw a huge increase in investment numbers quarter-on-quarter. The bull market in Q1, during which cryptocurrency values
Bloomberg’s senior ETF analyst Eric Balchunas claims that the withdrawals from spot bitcoin ETFs last month were compensated for by the inflows in May. Balchunas stated: “The bitcoin ETFs have put together a solid two weeks with $1.3 billion in inflows, which offsets the entirety of the negative flows in
On May 16, the governing party of Turkey sent a crypto bill draft to parliament. The bill is in line with global norms and focuses on crypto service provider registration and licensing. The goal of the proposed bill is to make the Capital Markets Board (CMB) in Turkey the go-to
Nearly 1,000 U.S. corporations have purchased Bitcoin exchange-traded funds (ETFs), contributing to Bitcoin’s surge in volumes among its new institutional investment products. Daily spot Bitcoin volumes surpassed $5 billion, according to data published to X on May 16 by research company Santiment. Since Bitcoin reached a record high of $73,800,
Bitcoin (BTC) price is experiencing pressure to maintain the key support level at $65,390. It is crucial for the price to remain above this support level to sustain the bullish trend, which targets the $70,000 level. It is essential to maintain this support level for the continuation of the upward
In response to a change in the bitcoin mining hashrate, JPMorgan has raised its primary estimate of the cost to produce one bitcoin from $42,000 to $45,000. After the halving, the crypto community expected the hashrate to fall sharply as miners who couldn’t make a profit would leave the network.
U.S. investing behemoth Vanguard’s new CEO has said that the firm would not be launching a spot Bitcoin (BTC) exchange-traded fund. An interview with Salim Ramji, the new CEO of Vanguard and a former head of BlackRock’s global ETF division, was published in Barron’s on May 15. Ramji said that
