Bitcoin’s price recently experienced a significant drop following the breakdown of the $64K support level. This drop has positioned the cryptocurrency in a key area that could potentially determine the mid-term fate of the crypto market. The daily chart indicates a continuous drop in price since the creation of a double top pattern at the
Crypto
Recent economic uncertainty in the United States has had a significant impact on the price of Bitcoin and altcoins. In the span of a few days, Bitcoin’s price plummeted to $60,500, marking its lowest point in almost three weeks. The altcoin market fared even worse, with assets like SOL, TON, and UNI experiencing drops of
Toronto-based Bitcoin mining company, Bitfarms, recently announced that its operational hash rate reached an impressive 11.1 EH/s by the end of July. This marked a significant 109% year-over-year increase and a 7% rise month-over-month. The company reported that the average operational hash rate for the month stood at 10.3 EH/s, representing a 36% increase from
MicroStrategy, known for being the world’s largest public Bitcoin holder, recently revealed its plans to raise up to $2 billion through the sale of its class A shares. This move was outlined in a regulatory filing with the U.S. Securities and Exchange Commission on August 1st. The company did not provide a specific timeline for
In recent news, Futu Securities International has taken a significant step by offering retail cryptocurrency trading services in Hong Kong. This move aims to attract investors by providing opportunities to trade bitcoin and ether on their brokerage platform with both Hong Kong and US Dollars. Futu Securities International has collaborated with HashKey Exchange, one of
The latest market analysis reveals that Ethereum experienced a 3% loss this week, showcasing its inability to stop the downtrend. The price of ETH lost its previous support at $3,300, now acting as a key resistance level. With current support at $2,800, there is a possibility of ETH testing this level if the markets continue
Recently, XRP experienced a significant drop in price from $0.66 to around $0.56. This decline was accompanied by a bearish pattern indicating a potential further downtrend. The decrease in value was around 7% on a daily scale and 14% since its local high. Analysts have pointed out that the XRP/BTC pair has been heading south,
The decentralized finance (DeFi) sector is currently experiencing a significant resurgence, showing growth in key metrics such as active loans and total value locked (TVL) from their lows in 2023. DeFi lending plays a crucial role in enabling investors to lend their crypto assets in exchange for interest, serving as an important indicator of DeFi
In the aftermath of the Bitcoin2024 conference, Bitwise CIO Matt Hougan has made a compelling argument for crypto investors to reassess their views on Bitcoin’s potential for growth. While the market has historically been fixated on the downside risks associated with the flagship cryptocurrency, recent developments at the conference have signaled a significant shift that
The nine spot Ethereum ETFs in the US experienced a significant net outflow of $77.21 million on Wednesday, marking a reversal from the previous day’s positive trend. This outflow coincided with Ether’s price falling below $3,200, indicating a lack of investor confidence in the cryptocurrency. The Grayscale Ethereum Trust (ETHE) reported a staggering $133.33 million
