Bitcoin (BTC) price remains pinned below $22,000 as the lingering impact of the Aug. 19 sell-off at $25,200 continues to be felt across the market. According to analysts from on-chain monitoring resource Glassnode, BTC’s tap at the $25,000 level was followed by “distribution” as profit-takers and short-term holders sold as price encountered a trendline resistance
Month: August 2022
Bitcoin (BTC) headed for multi-day highs after the Aug. 23 Wall Street open as United States economic data tripped up the dollar. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar suffers as data shows incomes “squeezed” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it eyed $21,700 at the time of writing, near
On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally. To kick things off, we broke down the latest news in the markets this week Bitcoin (BTC) to lose $21K despite miners’ capitulation exit? Five things to know in
United States Congressman Tom Emmer sent a four-page letter to Treasury Secretary Janet Yellen on Tuesday regarding the Treasury Department’s sanctioning of cryptocurrency mixer Tornado Cash on Aug. 8. In his letter, Emmer posed a series of questions that seek to clarify the position of the Treasury Department’s Office of Foreign Assets Control (OFAC). Emmer
In 23 days the Ethereum network will transition to a proof-of-stake (PoS) consensus algorithm after operating as a proof-of-work (PoW) blockchain since July 30, 2015. While the change may not mean much to ethereum users and traders, what’s changing under the hood is a very big deal. You’ve Heard About The Merge, Why Is It
Prague is the birthplace of the world’s first hardware wallet, the first Bitcoin mining pool, and, reportedly, even the first Bitcoin cafe. It is among the most affluent cities in Central Europe, visited by millions of tourists each year. Ranked as one of Europe’s most charming and beautiful cities, Prague is a burgeoning tech hub
On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it was revealed that the project had just as little as 15 wrapped Ether (wETH) worth $23,715 to pay back lenders. Approximately 15,000 ETH was lent using
Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips
India is now home to an estimated 115 million cryptocurrency investors despite a historically negative attitude toward the sector from the government, according to new data. The latest gauge on the number of users in India comes from cryptocurrency exchange KuCoin, which released the findings of its ‘Into The Cryptoverse India Report’ survey on Tuesday.
2022 has been an exceptionally rough year for the crypto market, and the last few months of Bitcoin’s (BTC) price action could be a sign that bears aren’t even close to being ready to let up. Crumbling crypto prices also equate to diminishing profits for Bitcoin miners and this week’s regulatory action by the United
The Ethereum ecosystem continues to witness a flurry of activity that has individuals and organizations deploying token contracts, adding liquidity to pools and deploying smart contracts to support a wide range of business models. While notable, this growth has also been riddled with security exploits, leaving decentralized finance (DeFi) protocols vulnerable to hacks and scams.
Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying
A survey by NYSE-listed Stifel Financial shows that most executives are bracing for a recession in the U.S. In addition, “53% of respondents believe that inflation will be an issue for the next two quarters to a year.” Most Executives Surveyed Say Recession Cannot Be Avoided Stifel Financial Corp. (NYSE: SF) announced the results of
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. Total crypto market cap, USD billion. Source: TradingView The worsening conditions are not exclusive to crypto
Bitcoin (BTC) drifted near $21,000 on the Aug. 22 Wall Street open as the new week began without a rebound. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView European commodity surge hammers euro Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to summon a comeback after last week’s 11.6% losses. The pair put in
The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming Jackson Hole economic symposium, which is scheduled to begin on Aug. 25. Investors are
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