The shares of the miner fell more than 7% in the post-market trading, after outperforming its peers on Wednesday during the normal trading session. Bitcoin’s price whipsawed today, erasing some of the earlier gains, still 6% higher, at around $60,530. The broader CoinDesk 20 Index added 3.6%, by comparison. Original
In a post on X, one analyst observes that the altcoin market capitalization has broken from the Wyckoff accumulation phase. With this upswing, the trader expects altcoin prices to move higher. This refreshing breakout coincides with Bitcoin’s (BTC) stellar performance when writing on February 28. At spot rates, the coin is trading above $60,000, a psychological round number- now supported- and is closely approaching $70,000. The Altcoin Breakout From Accumulation The “Wyckoff accumulation pattern” is a concept developed by technical analysts to pick out potential buying opportunities, in this case, altcoins.…
As Bitcoin’s price grazed the $64,000 milestone on Feb. 28, market indicators indicate an imminent rally to new all-time highs above $70,000. Bitcoin (BTC) grabbed headlines again on Feb. 28, as prices surged to a daily timeframe peak of $64,000, its highest in 830 days. With whale investment metrics still flashing green signals, a new all-time high could be on the cards for the pioneer cryptocurrency. Bitcoin whales in firm control: Holding 60% of the total supply The Bitcoin ETF approval was undoubtedly a real watershed moment for the crypto…
“In addition to Gemini’s failures related to Earn, the Department’s investigation revealed that Gemini engaged in unsafe and unsound practices that ultimately threatened the financial health of the company,” the press release said. “Gemini Liquidity LLC, an unregulated affiliate, collected hundreds of millions of dollars in fees from Gemini customers that otherwise could have gone to Gemini, substantially weakening Gemini’s financial condition.” Source
Nigerian authorities have reportedly detained two senior executives from Binance who had recently arrived in the country. The Central Bank of Nigeria’s governor stated that in 2023 alone, $26 billion flowed through the cryptocurrency exchange from sources and users that the bank could not adequately identify. Passports of Binance Executives Seized Authorities in Nigeria have […] Source
The entire cryptocurrency space is fueled with excitement as the price of Bitcoin rallied today, demonstrating immense resilience, reaching the $59,000 threshold and even further in the past 26 months. Bitcoin Rally Kicks Off The Strongest Pre-Bull Cycle So Far Bitcoin is currently in the limelight as the crypto asset continues to rally, leading to several analysts identifying the surge as the start of the “biggest bull cycle ever.” Analyst and trader Crypto Jelle has labeled the recent uptick as the “strongest start to a new cycle” as his analysis…
Eventually, the Supreme Court is likely to weigh questions that are central to the nature and survival of crypto in the U.S. – namely, what makes a digital asset a security or a commodity, and what are the government’s powers to oversee the markets where such assets change hands. But those cases are still winding through lower courts and may not rise to the high court’s consideration for many months or even years. Source
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TERRA-FI-ING? If it seems too good to be true, it sometimes is. But hope springs eternal that the crypto project Ethena’s new USDe token might prove sustainable despite yields that typically might signify high risk. Described as a “synthetic dollar” rather than a stablecoin, USDe is backed by Ethereum liquid staking tokens such as Lido’s stETH, but paired with short ETH perpetual futures positions on derivatives exchanges. As of Monday, the annualized yield was calculated at 24%, and according to DeFiLlama, the project has already pulled in nearly $500 million…
The bitcoin moved during a volatile day of trading in the cryptocurrency, with its price hitting $60,000 for the first time since November 2021, then climbing further above $64,000 beforea bruptly plunging to just above $59,000. As of press time it was changing hands just above $60,000. The all-time high price, set in late 2021, was around $69,000. Original