Xapo Bank enters the UK market and becomes the first in the country to launch interest-bearing Bitcoin and fiat banking accounts. Source: https://cointelegraph.com/news/xapo-bank-interest-bearing-bitcoin-accounts-uk?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Month: August 2024
Bitcoin Institutional Adoption ‘Remains on Track’ Despite Market Turbulence: Bernstein
Amid the battering the crypto market has received on Monday, Bernstein said Q3 for Bitcoin will be heavily influenced by macroeconomic factors and political developments. “Overall, the Bitcoin and crypto market will likely trade off macro and election cues for most of Q3, 2024,” the Bernstein analysts wrote in a note Monday morning, highlighting the interconnectedness of digital assets with…
Crypto market crash triggered by 'aggressive' selling by Jump Trading – report
Jump Trading significantly contributed to the crypto market sell-off and it could be looking to sell another $104 million worth of wstETH. Source: https://cointelegraph.com/news/crypto-market-crash-jump-trading-selling-qcp?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Crypto products shed $528M amid recession fears — CoinShares
As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000. Source: https://cointelegraph.com/news/crypto-528-million-lost-recession-coinshares?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Over $1B wiped out in crypto liquidations as global markets suffer
Crypto traders faced significant losses as major cryptocurrencies, including Bitcoin and Ether, experienced a sharp decline, resulting in over $1 billion in liquidations. Source: https://cointelegraph.com/news/crypto-market-crash-1b-liquidations-2024?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Whales prepare for next altcoin rally, DeFi is ‘waking up’ — Finance Redefined
Crypto whales are positioning themselves for the next “altcoin season,” while DeFi loans are seeing a resurgence back to 2022 highs. Source: https://cointelegraph.com/news/whales-prepare-next-altcoin-rally-finance-redefined?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Bitcoin Technical Analysis: $50,000 Support Under Siege as Bearish Trends Persist
Bitcoin’s price reached a five-month low, dipping to $49,647 at 2:25 a.m. EDT on Monday, Aug. 5. This decline is fueled by growing concerns about an impending recession, with Japan’s Nikkei experiencing its steepest daily drop since ‘Black Monday’ in 1987. Futures for the Dow, Nasdaq, and S&P 500 have also shown signs of correction, […] Source: https://news.bitcoin.com/bitcoin-technical-analysis-50000-support-under-siege-as-bearish-trends-persist/
Analysts warn of further Bitcoin downside – could BTC revisit $42k?
Despite the gloomy outlook, Bitcoin could prevent more downside pressure if it manages to remain above the $51,000 mark. Source: https://cointelegraph.com/news/analysts-warn-bitcoin-downside-btc-revisit-42k?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Crypto Liquidations Top $1 Billion After Bitcoin Dives Below $50K
The cryptocurrency market experienced a seismic shock in the past 24 hours, with total liquidations surpassing $1.06 billion and affecting 278,480 traders. This market meltdown, characterized by a stark imbalance between long and short positions, saw long liquidations reaching a staggering $902 million, while short liquidations stood at $160 million, according to CoinGlass data. The single largest liquidation in the…
Bitcoin Miner Argo Blockchain Reports Steady Performance in July 2024
Argo Blockchain PLC has today released its July 2024 operational update, reporting the mining of 48 BTC, maintaining an average of 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining margin in the mid-20% range, slightly lower than the previous month due to a lower […] Source: https://news.bitcoin.com/bitcoin-miner-argo-blockchain-reports-steady-performance-in-july-2024/