Day: February 28, 2025

Crypto miner Bitdeer invests $4m in Bitcoin amid price decline

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Bitdeer’s shares rose 0.6% after hours as the crypto miner invested $4 million in Bitcoin despite falling prices. Cryptocurrency mining firm Bitdeer has acquired millions in Bitcoin (BTC) as the cryptocurrency keeps trading lower from its all-time high which was set in late January. In an X post on Feb. 28, the Singapore-based firm said it has acquired 50 BTC at an average price of $81,475. With the latest purchase, Bitdeer appears to be holding over 640 BTC, representing 0.003% of Bitcoin’s total supply, data from BiTBO shows. Meanwhile, Bitcoin…

Arizona advances Strategic Bitcoin Reserve Act to House

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Arizona lawmakers have pushed forward the Arizona Strategic Bitcoin Reserve Act, bringing the state a step closer to making Bitcoin a part of its financial strategy. On Feb. 27, the Arizona Senate voted 17-11 to pass the Strategic Bitcoin Reserve Act (SB 1025) in its third reading, moving it to the House for further debate. If it clears the House, it will land on the governor’s desk for final approval before becoming law. Introduced by State Senator Wendy Rogers and Representative Jeff Weninger, the bill proposes allowing the state treasurer…

Potential BTC Demand Zone Around $75K as Price Slide Looks to be a Textbook ‘Breakout and Retest’ Play

Remember the last time you went on vacation? After locking the door and heading toward your car, you likely turned back abruptly to ensure the lock was secure before continuing your journey. Financial markets, led by a range of human emotions, exhibit similar behaviors. After a convincing move beyond a long-held resistance, assets typically return to confirm the validity of the breakout. That serves as a test of the strength of the former resistance-turned-support, following which bigger rallies unfold. The “breakout and retest play” phenomenon is well-known across asset classes.…

When will Bitcoin price bottom?

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Bitcoin (BTC) is in danger of violating its old all-time highs from March 2024 as BTC price losses erase the entire “Trump pump.” Where could BTC/USD finally bottom? Cointelegraph takes a look at the most popular targets for crypto traders and analysts. BTC price fills key CME futures gap A key area on the radar for traders is the “gap” in CME Group’s Bitcoin futures markets that price created during its ascent to $100,000 and beyond. This lies at $78,000, and as of Feb. 28, BTC/USD has almost entirely “filled”…

Bitcoin Hits Its Most Oversold Level Since August 2024

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Este artículo también está disponible en español. Bitcoin (BTC) has declined by more than 10% in the last two weeks, falling from approximately $98,000 to around $86,000 at the time of writing. The high selling pressure has pushed the flagship cryptocurrency to oversold levels it had not seen since August 2024. Bitcoin Is Oversold, Time To Buy? According to an X post by seasoned crypto analyst Ali Martinez, BTC has entered oversold conditions it hadn’t seen since August 2024. Specifically, the Relative Strength Index (RSI) for Bitcoin has dropped to…

Alibaba Announces $53 Billion AI and Cloud Computing Push

Chinese e-commerce giant Alibaba reported that it was ready to invest $53 billion in artificial intelligence (AI) and cloud computing initiatives in the next three years. The commitment is part of a gradual push of the company to these technologies, allowing it to increase its growth. According to Alibaba CEO Eddie Wu, AI has the […] Source CryptoX Portal

Bitcoin ETFs continue to face outflows as BTC dips below $80k

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Spot Bitcoin exchange-traded funds in the United States continued their outflow streak on Feb. 27 as Bitcoin tumbled under $80k, driving a risk-off sentiment across the broader crypto market. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $275.83 million in net outflows on Tuesday, extending their negative flow streak to eight consecutive days, during which over $3.2 billion exited the funds. Within this period, BlackRock’s IBIT experienced its highest outflow day on Feb. 26, with $418.06 million in net redemptions. This came just a day after the…

Bitcoin needs ‘to find real organic buyers’ to resume uptrend — VC

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Bitcoin’s price will continue to experience volatility until genuine buyers start entering the market, rather than traders seeking arbitrage opportunities, according to a crypto venture capitalist. “This is a classic case of liquidity games. ETFs didn’t just bring in long-term holders — they brought in hedge funds running short-term arbitrage,” Master Ventures founder Kyle Chasse said in a Feb. 27 X post.  Hedge funds were pursuing “low-risk yields” on Bitcoin “For months, hedge funds were exploiting a low-risk yield trade using BTC spot ETFs & CME futures,” Chasse added.  He…

Bitcoin Miners Are Hoarding Their Crypto Despite Plunge—Here’s What It Means

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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more…

Bitcoin falls below $80K amid Trump tariff concerns

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Bitcoin has fallen below $80,000 for the first time since November, erasing gains made since Donald Trump’s election amid growing concerns over proposed tariffs.  According to crypto.news price tracker, Bitcoin (BTC) has dropped to the $79,800 range on Feb. 28, marking a 6% decline in the past 24 hours. The drop has raised concerns of further corrections, as many traders had previously targeted $82,000 as a possible support level. Expectations are now shifting toward a potential slump to the $70,000 range. The drop has caused the total amount of Bitcoin…