Day: June 7, 2024

Bitcoin Price (BTC) Tumbles to $69K, Leads to $450M in Liquidations

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In the meantime, bitcoin bulls might be left scratching their heads at what might be needed for a true upside breakout. The spot ETFs on Thursday completed an 18th-consecutive day of inflows, a steak not even accomplished during the frenzied price increases of February and March. Over that 18-day streak, the ETFs accumulated more than 56K bitcoins, according to HODL Capital, or nearly 7x the amount of bitcoin mined during that period. Original

Russian State Duma Official: International CBDC Settlements to Become ‘Common Practice’ in 5 Years

Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this will be addressed soon. Russian State Duma Official Bets on National […] Source CryptoX Portal

Bitcoin ETFs Witness 18 Straight Days Of Inflows, Options Traders Eye $100,000

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US spot Bitcoin ETFs have experienced a noteworthy streak of net inflows for 18 consecutive days, contributing to the upward momentum of the leading cryptocurrency as it inches closer to its all-time high levels set in March.  According to Bloomberg data, these ETFs, managed by some of the world’s largest financial institutions, have attracted net subscriptions of $15.6 billion since their launch on January 11, bringing total assets under management to a substantial $62.3 billion. Record-Breaking Demand For Bitcoin ETFs According to Bloomberg, the success of Bitcoin ETFs introduced by…

OKX admits testing ‘collection program’ as Bitcoin fees skyrocket

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OKX has acknowledged testing a new program on Bitcoin’s network, leading to the average transaction fee soaring to more than $50 per transfer. ,According to data from mempool.space, the average transasction fee on the Bitcoin network surged to as much as $52 on Friday, requiring over 5.4 BTC (around $400,000) in fees to be paid to miners to generate a single block in the Bitcoin network. Crypto exchange OKX appears to be responsible for the abnormal spike in transactional fees on the Bitcoin network After questions were raised, OKX’s Chinese…

Crypto Exchange Bybit Announces Trading Support for Overseas Chinese

Cryptocurrency exchange Bybit has opened its platform to overseas Chinese residents for trading. The Dubai-based company’s decision is part of a strategy to draw new users while navigating the complexities of global regulatory scrutiny. “This move is in response to the growing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expatriates and […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin On The Verge As Global Liquidity Nears New $100 Million ATH

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Philip Swift, the founder of the on-chain analytics platform LookIntoBitcoin, recently highlighted the significant increase in global liquidity, which just hit a new all-time high (ATH). Swift suggested this was a crucial indicator of how Bitcoin can rise in this bull run.  The Most Important Indicator For Bitcoin Swift claimed that the global liquidity was the “most important” chart in this bull run while revealing that it had just hit a new ATH. The chart he shared showed that the global liquidity was now at $94 trillion and approaching the…

San Francisco-Based Crypto Exchange Kraken Mulls $100,000,000+ Pre-IPO Funding Round: Report

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One of the world’s largest and oldest crypto exchanges is reportedly contemplating a final funding round before possibly going public. Citing people familiar with the matter, Bloomberg reports that San Francisco-based Kraken is mulling conducting a pre-initial public offering (IPO) round after receiving inquiries from potential investors. The fundraising, which will likely aim to raise more than $100 million, may be completed by the year-end, according to the sources. Bloomberg says the exchange is looking for a “marquee” company to join its board and help it kick off a successful…

Coingecko Data Breach Affects Nearly 2 Million Users

Coingecko experienced a data breach on June 5, compromising the personal information of nearly 2 million users. The breach occurred through its third-party email platform, Getresponse. Third-Party Email Platform Breach Hits Coingecko On June 5, 2024, Coingecko detected unusual activity on its third-party email marketing platform, Getresponse. An attacker had compromised a Getresponse employee’s account, […] Source CryptoX Portal