Tag: Bitcoins

Stats Show Over 53,000 Wrapped Bitcoins Were Removed From Circulation in the Last 3 Months – Market Updates Bitcoin News

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Three months ago, there were 441,546 wrapped or synthetic bitcoins on the Ethereum and Binance Smart Chain worth $17.45 billion using exchange rates on April 24, 2022. Since then, that number has dropped by 53,582 synthetic bitcoins and today the number of wrapped or bonded bitcoins is approximately 387,964 worth $8.81 billion in value. Number of Wrapped or Synthetic Bitcoins Held on Ethereum Declines In the last few years the use of wrapped, bonded or synthetic bitcoins has increased a great deal and earlier this year there were close to…

Finland Sells 1,889 Seized Bitcoins for $47 Million — Proceeds Going to Ukraine – Regulation Bitcoin News

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Finland has sold 1,889 bitcoins seized in narcotic cases for 46.5 million euros ($47.4 million). The country’s finance minister previously said that the bitcoin sale proceeds will go to Ukraine for humanitarian aid and reconstruction as its war with Russia continues. Finland Sells Bitcoin Seized From Narcotic Offenses Finnish Customs (aka Tulli), the customs service of the government of Finland, announced Thursday that it has sold “legally forfeited” bitcoins. “During the summer, Finnish Customs has realized its cryptocurrencies that had been legally forfeited to the state,” the announcement details, elaborating:…

Bitcoin’s $18k Level Probably Constitutes a Bottom and Will be Retested, says Bitmex’s Hayes

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Summary: Arthur Hayes has forecasted that Bitcoin’s most recent low, around $18k, could constitute a bottom. According to his analysis, a classic bottom is usually tested before a bull market begins, and $18k is no different. He sees the rally from $18k levels to $24k as a potential ‘short covering.’ He anticipates a proper Bitcoin bottom before the US Fed or Treasury announces a policy change. Bitmex’s founder and former CEO, Arthur Hayes, has forecasted that Bitcoin’s most recent lows around the $18k price area probably constitute a bottom. According…

Bitcoin’s Mining Difficulty Slides 5% Dropping to Levels Not Seen Since March – Mining Bitcoin News

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On July 21, 2022, at 2:14 p.m. (ET) at block height 745,920, Bitcoin’s mining difficulty dropped by 5.01% outpacing the last two epoch changes. The latest downward shift makes it 5% easier to find blocks than it was during the past two weeks, and roughly 8.77% easier since June 22. It’s Now 11.39% Easier to Find a Bitcoin Block Since the Difficulty’s All-Time High on May 10 Bitcoin miners caught a break this week as the difficulty adjustment algorithm (DAA) adjusted downward for the third week in a row. The…

Bitcoin’s longest ‘extreme fear’ streak finally breaks

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Bitcoin (BTC) on Tuesday finally escaped the “extreme fear” zone after a whopping 73 days, coinciding with a 19% weekly increase in Bitcoin (BTC) as bulls make their way back to the market.  The Crypto Fear and Greed Index increased from “extreme fear” to merely “fearful” on July 19, reaching a score of 30 out of 100. It has gained slightly since then to the current index score of 31. The Index analyzes the current sentiment of the overall crypto market, scoring between 0 to 100. The index is based…

How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000

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The Bitcoin (BTC) price chart from the past couple of months reflects nothing more than a bearish outlook and it’s no secret that the cryptocurrency has consistently made lower lows since breaching $48,000 in late March. Bitcoin price in USD. Source: TradingView Curiously, the difference in support levels has been getting wider as the correction continues to drain investor confidence and risk appetite. For example, the latest $19,000 baseline is almost $10,000 away from the previous support. So if the same movement is bound to happen, the next logical price…

Bitcoin’s Inverse Correlation With Inflation-Adjusted Bond Yield Hits Record High

On Wednesday, the U.S. Labor Department is scheduled to release June’s consumer price index figure. The data is likely to show the cost of living rose 1.1% month-on-month, bringing the annualized figure to a new four-decade high of 8.8%. The CPI stood at 8.6% in May. The core inflation, which strips out the volatile food and energy component, is seen rising 0.6% month-on-month, amounting to an annualized growth of 5.8%. Source

Investors Expect Bitcoin’s Price to Fall to $10,000 – Markets and Prices Bitcoin News

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A new survey shows that the majority of nearly 1,000 investors who responded expect bitcoin’s price to drop to $10K. In addition, 28% of respondents expressed strong confidence that cryptocurrencies are the future of finance while 20% said they are worthless. Investors Believe Bitcoin Could Fall to $10K The latest Bloomberg MLIV Pulse survey, conducted from July 5-8, asked 950 investors who responded where they see bitcoin’s price heading. Respondents were asked, “Which level will bitcoin trade at first? $10K or $30K.” According to the results published Monday, 60% of…