The cryptocurrency market has been experiencing a surge recently, particularly following the release of the latest US Consumer Price Index (CPI) data. The surge has been reflected in the prices of Bitcoin and Ethereum, both of which posted gains in the past 24 hours. Bitcoin saw a 3.4% increase, while Ethereum saw a 2.43% increase.
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With risk assets in the financial sector currently appearing vulnerable, experts warn that economic factors could push bitcoin into a “slow bleed environment.” Last week, U.S. authorities released stronger-than-expected jobs data, causing a dent in assets like bitcoin. However, BTC remained resilient, with the help of continued inflows into the U.S. spot Bitcoin exchange-traded funds
The US spot Bitcoin ETFs, including GBTC, started June with a bang, collectively purchasing 25,729 BTC in the first week. This was a significant increase compared to the previous months, with data showing that in January, these ETFs acquired 33,456 BTC, followed by 116,561 BTC in February and 65,456 in March. However, April saw an
Bitcoin has recently seen a period of dull price action, with minor fluctuations over the weekend. A brief uptick toward $70,000 was observed before the asset returned to familiar levels. Despite this, Bitcoin had a strong week in terms of ETF inflows, with impressive streaks of 19 days of consecutive positive flows. These inflows resulted
In the past market cycle, altcoin and Bitcoin pairs experienced a capitulation in June 2019, right before the United States Federal Reserve made the decision to cut interest rates. Interestingly, the pattern on the charts for this cycle appears to be quite similar. It is possible that we may witness a final flush out of
10x Research CEO Markus Thielen has expressed optimism about Bitcoin’s future, predicting a new all-time high. According to Thielen, a “head and shoulders” chart pattern is on the verge of completion, potentially leading to a rally towards $83,000 in the near future. Despite a retreat to just over $69,000 on June 7, Thielen remains bullish
Core Scientific, a key player in North America’s digital infrastructure industry, recently announced a strategic partnership with CoreWeave, an AI Hyperscaler. This partnership involves a series of long-term contracts extending over 12 years, with Core Scientific set to supply approximately 200 MW of infrastructure to support CoreWeave’s high-performance computing (HPC) operations. This move marks a
The recent indictment of Bill Guan, chief financial officer of Epoch Times, by the US Department of Justice has sent shockwaves through the media industry. The allegations suggest that Guan was at the center of a sophisticated international money laundering scheme, involving the transfer of $67 million in illicit funds using cryptocurrency. This revelation has
In June, Coinbase CEO Brian Armstrong proudly announced that over one million individuals have joined the ‘Stand With Crypto’ movement as advocates for the industry. This incredible number of supporters has not gone unnoticed, with Armstrong emphasizing, “That’s a lot of voters!” It is reported that a significant 600,000 advocates joined the movement following a
The recent drop in bitcoin price has left many investors puzzled, especially considering the continuous inflows into US-based ETFs. The approval of Bitcoin ETFs by the US Securities and Exchange Commission earlier this year marked a significant milestone in the cryptocurrency industry. Financial giants like BlackRock and Fidelity becoming issuers of exchange-traded funds with cryptocurrency
