Day: March 4, 2025

ETH Tests $2K, Lowest Since November 2023

Ether (ETH) is testing levels not seen since November 2023, as the market continues to be hit by volatility resulting from U.S. President Donald Trump’s trade war threat. ETH is down 15% in the last 24 hours, according to CryptoX Indices data, dragging down the CryptoX 20, a measure of the largest digital assets, which is down 16%. (CryptoX Indices) Ether’s decline over the past three months has been driven by bearish investor sentiment, reflected in its underperformance relative to BTC and weak institutional demand, alongside macro headwinds like trade…

Bitcoin Price Retreats—Key Support Levels in Focus After Reversal

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Bitcoin price started a fresh decline from the $95,000 resistance zone. BTC is back below $90,000 and might continue to move down. Bitcoin started a fresh decline from the $95,000 resistance zone. The price is trading below $92,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $88,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if it fails to stay above the $82,250 zone. Bitcoin Price Dips Over…

Atlanta Fed model predicts GDP to shrink 2.8% in Q1: Trumpcession

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The US economy could be shrinking at its fastest rate since the COVID-19 lockdown, according to the Federal Reserve Bank of Atlanta’s GDPNow model, which is now forecasting America’s gross domestic product to fall 2.8% in the first quarter. The new forecast differs immensely from just a month ago, which estimated America’s GDP was tracking close to a 4% growth for Q1.  While GDP trackers like the Federal Reserve Bank of Atlanta can be volatile, several economic indicators also support the downward trend, which could also spell trouble for the…

Will Bitcoin Rise Or Fall Again? QCP Questions Trump-Fueled Rally

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Este artículo también está disponible en español. Bitcoin surged past $95,000 during low-liquidity trading hours on Sunday after US President Donald Trump made a major announcement. The formation of a US Crypto Strategic Reserve, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), set the market ablaze with speculation. Many traders viewed this as a defining moment, one that could solidify crypto’s place in the U.S. financial system, while others remained wary, questioning whether the rally could sustain itself beyond the immediate reaction. Among those skeptical is QCP…

Hut 8 Reports $331M Net Income in 2024 While Expanding AI Infrastructure

Bitcoin mining firm Hut 8 took $331 million in net income in 2024, according to the company’s latest financial report. The firm benefited significantly from the rise in bitcoin’s price over the year. Hut 8 finished the year with a reserve of 10,171 bitcoin (BTC), worth approximately $905 million at the time of writing. The vast majority of this reserve has been pledged as collateral to purchase more ASIC mining machines. The miner saw a sharp reduction in energy costs, with fourth-quarter costs per megawatt-hour dropping by 30% from the…

Coinbase files FOIA to see how much the SEC’s ‘war on crypto’ cost

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Crypto exchange Coinbase is seeking to discover how much the US Securities and Exchange Commission (SEC) spent on enforcement action against crypto firms.   Coinbase chief legal officer Paul Grewal said in a March 3 statement to X that the request under the Freedom of Information Act (FOIA) was submitted to the SEC to find out how many investigations and enforcement actions were brought against crypto firms between April 17, 2021, through Jan. 20, 2025. The crypto exchange also seeks information on how many employees worked on the enforcement actions, how…

Coinbase CEO Advocates Bitcoin-Only US Reserve, Suggests Crypto Index as Backup Plan

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Coinbase CEO Brian Armstrong advocates for a bitcoin-only U.S. reserve, calling it the simplest option, but suggests a crypto index as an alternative for diversification. Coinbase CEO Calls for Bitcoin-Only US Reserve but Proposes Crypto Index as Plan B Brian Armstrong, CEO of crypto exchange Coinbase (Nasdaq: COIN), shared his thoughts on social media platform […] Original

Bitcoin’s Exchange Flows Indicate Changing Investor Behavior—What’s Next?

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Bitcoin’s price has recently experienced notable volatility, driven by significant market developments and investor activity. Following an initial decline in recent days, BTC surged above $94,000 on Sunday. This increase was fueled by reports of an upcoming US strategic crypto reserve that includes BTC and other major digital assets. However, as of today, BTC is trading just below $93,000, signaling an unstable upward momentum in the crypto market. Amid this price movement, a recent analysis by CryptoQuant analyst KriptoBaykusV2 highlights an evolving pattern in Bitcoin’s net exchange flow, offering insight into…

XRP ‘distribution’ hits record level as the altcoin trades below $3

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On March 2, XRP registered a massive rally of 34.15%. The price pump came after US President Donald Trump’s announcement that XRP (XRP) would be included in a US strategic crypto reserve alongside Solana (SOL) and Cardano (ADA). XRP 1-day chart. Source: Cointelegraph/TradingView However, the altcoin retraced 50% of its rally on March 3, and one analyst highlighted that XRP whales are potentially making a move behind the scenes. XRP whales sell at record levels With XRP currently 30% below its all-time high, CryptoQuant founder Ki-Young Ju implied that large…