“Bitcoin has cleared resistance defined by the daily cloud, and it is likely to confirm its breakout upon today’s close,” Katie Stockton, founder and managing partner of Fairlead Strategies, told CoinDesk in an email on Wednesday. While bitcoin traded slightly weak on Wednesday, it managed to print a UTC close above the cloud, confirming a bullish trend change. Source
Investor sentiment across the cryptocurrency ecosystem has seen a significant shift in the positive direction over the past week, despite events in the wider world. Currently, Bitcoin (BTC) is back above $43,500 and many altcoins are also witnessing double-digit gains. Crypto Fear & Greed index. Source: Alternative The ongoing conflict in Ukraine and recent actions taken by governments to limit access to banking services may have helped to shine a light on the value of holding cryptocurrencies, which offers some protection against uncontrollable events and what some might perceive as…
Bitcoinโs price spike, which briefly exceeded $44,500 Tuesday afternoon, is now easing. BTC has retreated to roughly $43,912 on Wednesday, but is still up nearly $10,000 in the last five days and is on the verge of reclaiming January levels. Bitcoin price rose more than 5% Monday as markets processed new developments in Russiaโs invasion of Ukraine, despite risk aversion pushing down blue-chip and technology sectors, which cryptocurrencies have been linked to for weeks. Markets may be underestimating the economic repercussions of Russiaโs financial isolation. Sanctions against Russia were placed…
The โrealโ daily Bitcoin (BTC) volume spiked to levels not seen for three months amid the Russian invasion of Ukraine. According to the latest weekly update report from blockchain analytics firm Arcane Research, real daily BTC trading volume surged above the $10 billion last Thursday (Feb. 24, the first day of the invasion), marking the highest daily volume recorded since Dec. 4. The firm cited โnew crypto narrativesโ that have risen to the forefront amongst the ongoing crisis, such as crypto fundraising in Ukraine, along with demand increasing in relation…
Bitcoin (BTC) hit $44,000 overnight on Mar. 1 as a rally that began Monday sparked unexpected results.ย BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders warns of “massive variables” for BTC price Data from Cointelegraph Markets Pro and TradingViewย showed BTC/USD reaching $44,250 on Bitstamp before consolidating, still above $43,000 at the time of writing. The move had come in two main bursts, beginning just prior to the Wall Street open. Against a highly uncertain macro backdrop, analysts had been hard-pressed to forecast what Bitcoin price action would do next, a…
The processing power behind the Bitcoin network has dropped 30% since the hashrateโs all-time high (ATH) on February 15, sliding from 249 exahash per second (EH/s) to 169 EH/s. Furthermore, four days from now, the networkโs mining difficulty is expected to increase following the 4.78% epoch change on February 17. Bitcoin Hashrate Drops From 249 Exahash per Second to 169 EH/S in 12 Days From January 13 to February 15, Bitcoinโs hashrate was coasting along at record highs for roughly 33 consecutive days. This weekend, on Sunday, February 27, 2022,…
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Contrary to some expectations, Beijingโs crackdown on the crypto mining industry has increased Bitcoinโs carbon emissions, researchers have alleged. Leaving China, miners also left behind its eco-friendly hydropower and are increasingly relying on energy generated by fossil fuels, they claim. Bitcoin Mining Allegedly Less Green Since Minersโ Exodus From China Cryptocurrency mining has become a dirtier process after the Chinese government effectively prohibited bitcoin extraction in the Peopleโs Republic, according to research published in the Joule journal. The share of renewable energy used to power mining operations has fallen from…
Rising alongside Bitcoin are equity markets, with the Nasdaq higher by 4% from its worst levels on Thursday morning. Source
Amid the barrage of last weekโs regulatory news, from rumors of Joe Bidenโs upcoming executive order on digital assets to another round of the Russian governmentโs crypto tug of war, the storyline that was arguably the most consequential for the mainstream narrative on the social effects of crypto has been the one around the Canadian governmentโs standoff with the Freedom Convoy. The governmentโs invocation of emergency powers to put down a protest movement โ combined with the movementโs financial infrastructure being one of the main attack vectors โ has led…