Tag: Bitcoin

Block Inc. shifts focus to Bitcoin mining amid plans to sunset Web5-focused TBD

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Jack Dorsey founded payments firm Block Inc. is pivoting its focus towards the cryptocurrency mining sector. In a Nov. 7 shareholder letter, Block, formerly Square Inc., said it would dial down resources towards its music streaming service TIDAL, and sunset TBD, a venture focusing on decentralizing the internet, to focus on expanding its presence in the Bitcoin mining sector. Block acquired TIDAL in a 2021 acquisition for roughly $300 million, as the streaming service was facing stiff competition and failing to gain traction. The platform has continued to struggle, with…

Bitcoin ETFs break record with $1.38b inflows led by BlackRock’s IBIT

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On Nov. 7, U.S. spot Bitcoin ETFs recorded a historic $1.38 billion in net inflows, marking the highest single-day inflow since their inception, driven primarily by BlackRock’s IBIT. According to data from SoSoValue, BlackRock’s spot Bitcoin ETF alone accounted for $1.12 billion of the total net inflows on the day, a historic high that reversed the previous two days of outflows totaling $113.3 million. IBIT’s inflows accounted for over 81% of the total $1.38 billion in net inflows recorded across the 11 U.S.-listed spot Bitcoin ETFs on that day. Following…

Fed Cuts Rates by 25 Basis Points, Bitcoin Price at Record as Powell Says Trump Win Has ‘No Effect’ on Policy

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Bitcoin Price Advances Again: Can Bulls Push It Even Higher?

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Bitcoin price is gaining pace above $75,000. BTC is rising and might aim for a move above the $77,000 resistance zone in the near term. Bitcoin started a fresh surge above the $74,500 zone. The price is trading above $74,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $76,200 resistance zone. Bitcoin Price Sets Another ATH Bitcoin price started…

JPMorgan Stays Bullish: ‘We Are Positive on Bitcoin Into 2025’

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JPMorgan forecasts a bullish outlook for bitcoin through 2025, citing Trump’s economic policies and intensified “debasement trade” strategies favoring bitcoin and gold as hedges against currency devaluation. Bullish Outlook: JPMorgan Sees Bitcoin Poised for Gains Through 2025 Global investment bank JPMorgan released a report on Thursday, detailing how Donald Trump’s recent victory in the U.S. […] Original

Analyst Puts Bitcoin Price Ceiling At $137,000, But Is This The Highest BTC Can Go?

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Este artículo también está disponible en español. Analyst Tony Severino has revealed that the Bitcoin price currently has a ceiling of $137,000. This has raised questions about whether this is the highest point that the flagship crypto can reach in this market cycle, and the analyst also provided some answers.  Bitcoin Price Ceiling Is At $137,000 Tony Severino mentioned in an X post that the current ceiling for the Bitcoin price is $137,000, while its floor is around $39,000. He noted that investors could double their investments from Bitcoin’s current…

Bitcoin Hits $76,000 All-Time High As Market Reacts To Fed’s Interest Rate Cuts

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Bitcoin (BTC), the leading cryptocurrency by market capitalization, surged to a new all-time high of $76,800 buoyed by the recent US presidential election which saw Donald Trump secure another term in the White House and a more favorable monetary policy from the US Federal Reserve (Fed).  Fed’s Second Consecutive Rate Cut On Thursday, the Federal Reserve announced its decision to cut its benchmark overnight lending rate by 25 basis points to a target range of 4.50%-4.75%, adding to the bullish sentiment surrounding crypto prices.  This marks the second consecutive rate…