Month: April 2024

Bitcoin plummets more than 8% on heels of Iran drone attack

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After Iran’s April 13 drone attack on Israel, the crypto market reacted; Bitcoin (BTC) dropped more than 8% from its value to trade at $61,514. The latest correction marked the continuation of a trend that started on April 12 and worsened the next day. Analysts estimate the crypto market liquidated more than $860 million in assets over two days; the price of Bitcoin initially fell from $71,000 to $65,000 and then dropped even more to the $61,000 level.  Bitcoin price chart April 10-13 | Source: CoinGecko Market watchers have suggested…

Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

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Bitcoin, the pioneer and flagbearer of the digital currency realm, has once again captured the attention of investors. Recent market dynamics have prompted discussions among analysts and enthusiasts alike, with the spotlight firmly fixed on the possibility of a significant retracement in Bitcoin’s price. Renowned crypto analyst Rekt Capital has examined the current state of the Bitcoin market, drawing parallels with historical cycles to offer insights into potential future movements. As the market experiences a period of relative calmness compared to previous weeks, speculation abounds regarding the likelihood of a…

US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

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Data shows that U.S. spot bitcoin exchange-traded funds (ETFs) experienced negative outflows on Friday, totaling $55.1 million, with Grayscale’s Bitcoin Trust (GBTC) seeing another notable decrease. Metrics from Thursday reveal GBTC held 316,193.43 bitcoins, but after a decline of 2,048.23 bitcoins, the fund’s holdings reduced to 314,145.2 bitcoins. Blackrock and Fidelity Absorb Bitcoin Despite GBTC’s […] Original

USDE and FDUSD Experience Brief Depegs Amid Saturday’s Crypto Market Shake-Up

The fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines. Data reveals that the token, designed to mirror the U.S. dollar’s value, declined to $0.965 each. Similarly, the market witnessed the fourth largest stablecoin, FDUSD, fall to a low of $0.9557 per coin. […] Source CryptoX Portal

Bitcoin ETF Issuers Push Holdings To 4.27% Of BTC Supply Amid Crash To $61,000

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There’s no denying the launch of Spot Bitcoin ETFs has done wonders for the price of Bitcoin and other cryptocurrencies in general. These ETFs have now unlocked institutional demand into the world’s largest crypto asset to change the dynamics ahead of the next halving. On the other hand, recent tensions between Iran and Israel have seen Bitcoin falling to as low as $61,000 in the past 24 hours to undo weeks of price increases.  Bitcoin ETF Wallets Now Whale Addresses The institutional demand for Bitcoin has been ramping up since…

Crypto Advocates Weigh in on Bitcoin’s Sudden Drop Amid Middle East Tensions

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On April 13, Iran initiated a drone strike on Israel followed by reports that unmanned aerial vehicles (UAVs) were intercepted by Israeli, U.S., and other Western allied forces. Concurrently, bitcoin and the broader crypto economy experienced a significant downturn, with many analyzing the fundamentals in the context of a potentially intensifying military conflict. Community Reacts […] Original

Bitcoin Drops As Iran Launches Missile Attack On Israel

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The price of Bitcoin took a nose dive on Saturday following reports of Iran launching missile and drone attacks on Israel. Alongside the market leader, many other prominent cryptocurrencies also experienced a significant selloff as news of a brewing international conflict in the Middle East circulated on the internet. Bitcoin Suffers Major Decline For Second Consecutive Day According to multiple reports on April 13, Iran commenced a drone attack against Israel in retaliation to an attack on an Iranian diplomatic building in Syria on April 1 which claimed the lives…

Kiyosaki Reacts to $200 BTC Crash Prediction, Miners Offload BTC Ahead of Halving, and More — Week in Review

Robert Kiyosaki expressed his stance on potentially investing more in Bitcoin if its price plummets to $200, as economist Harry Dent has forecasted. Cryptoquant data reveals that Bitcoin miners are selling off their holdings in anticipation of the network’s upcoming halving event, which is expected to impact their rewards. JPMorgan has speculated that the SEC […] Source CryptoX Portal

The Only Path Forward to Web3 Adoption: Unlocking Tech Synergy Through Collaboration

History has shown that collaboration is a powerful driver of digital innovation, propelled by the exchange of knowledge between scientists and engineers. Indeed, instrumental to the birth of the Internet was the collaboration between Bob Kahn and Vint Cerf in the 1970s, which enabled communication between computers and networks and unlocked the new digital era […] Source CryptoX Portal