Tag: High

Bitcoin Hits 3-Week High on ‘Relief’ Rally

Bitcoin continued to rally early Tuesday, building on Monday’s gain, with an 18% increase over the past 24 hours. The world’s largest cryptocurrency broke the $25,000 mark following the release of U.S. inflation data. The cryptocurrency has since reached around $26,200, a nine month high. Over $100 million worth of bitcoin shorts, or bets against a rise in prices, were liquidated on Monday. Ether also gained on Tuesday, up 10%, and crypto exchange OKEx’s OKB token rose 25%. Source

Bitcoin price sees new 2023 high as CPI sends BTC price above $26K

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Bitcoin (BTC) spiked above $26,000 on March 14 as United States Consumer Price Index (CPI) data showed mixed inflation signals. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI fuels 9-month BTC price highs Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as sudden volatility kicked in on the release of February’s CPI numbers. Inflation climbed 6% year-on-year, while the month-on-month figure was 0.4% — both in line with expectations. Items less food and energy increased by 0.5%, slightly higher than forecast. US #inflation data more or less in line. Feb…

USDC Volatility Lifts Bitcoin’s Coinbase Premium to 3-Year High

“When news broke that Circle’s funds were stuck in Silicon Valley Bank, users rushed to redeem their USDC for USD,” Ignas said. “On Coinbase, users could redeem 1 USDC for $1.00, but Coinbase suspended conversions over the weekend when banks are closed, which worsened the situation, leaving traders with no option but to liquidate holdings in the spot market.” Source

Curve Finance trading volume reaches $7B historic high after USDC depeg

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Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin (USDC) from the U.S. dollar.  Looks like we have the biggest daily trading volume in history — Curve Finance (@CurveFinance) March 11, 2023 Curve supports liquidity pools for major stablecoins, such as USDC, Tether (USDT), Frax (FRAX), Dai (DAI) and TrueUSD (TUSD). Fear, doubt, and uncertainty have spread…

Bitcoin price spikes to ‘$26K’ in USDC terms — How high can the BTC short squeeze go?

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Bitcoin (BTC) refused to let $20,000 support die for good on March 11 as the weekend opened to a battle for lost ground. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin shakes off USDC depeg Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $20,200 at the time of writing. A brief dip below the $20,000 mark overnight was short lived, and the mood appeared more stable on the day as the initial wave of panic over United States bank stability subsided. The collapse of SVB Financial, which followed Silvergate…

XRP Hits 2-Week High, SHIB Marginally Higher – Market Updates Bitcoin News

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Xrp rose higher for a third straight session on Wednesday, as prices moved to a two-week high. The rise comes despite market sentiment remaining largely bearish, with the global market cap trading 1.29% lower as of writing. Shiba inu also climbed higher in today’s session. XRP, formerly ripple, was once again a notable mover, as prices rose for a third straight session on Wednesday. XRP/USD raced to an intraday high at $0.3952 earlier today, which comes less than 24 hours after trading at a low of $0.3729. Following the rally,…

Argo Blockchain Records High Bitcoin Production and Revenue in February 2023

World-leading cryptocurrency miner Argo Blockchain recorded increased Bitcoin production despite the rise in network difficulty. On March 7, the company released its operations update for February 2023, which disclosed the remarkable monthly performance. In addition to high Bitcoin production last month, Argo Blockchain (NASDAQ: ARBK) also saw its revenue surge during the same period. Argo Blockchain Sees High Bitcoin Production Despite Network Difficulty According to the press release, the crypto mining company mined 5.7 BTC daily, 162 Bitcoin or Bitcoin Equivalents in February. Last month’s Bitcoin production represented a 7%…

Volatility in BTC, ETH Remains High to Start the Week – Market Updates Bitcoin News

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Bitcoin consolidated for a third straight session, as markets prepared for a big week of U.S. economic data. Later this week, nonfarm payrolls will be posted, with Federal Reserve chair Jerome Powell also speaking in the coming days. Ethereum also fell marginally lower to start the week. Bitcoin Bitcoin (BTC) started the week in consolidation, ahead of a key week of economic data from the United States. Following a high of $22,497.00 on Sunday, BTC/USD slipped to an intraday low of $22,331.31 earlier in the session. As a result of…

Bitcoin leverage ramps up as BTC’s margin long-to-shorts ratio hits a record $2.5B high

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Crypto traders’ urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it’s impossible to know if these traders are extreme risk-takers or savvy market makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral deposit and the bulk of their position on cold wallets. Not all leverage is reckless Regardless of the reason for traders’ use of leverage, currently there is a highly unusual imbalance in margin lending markets…

2-year Treasury Yield Attains 17-year High amid Sustained Fed Rate Hikes

The 2-year and 10-year Treasury yields rose following the recent 25-basis-points hike. The 2-year yield hit a high not seen since 2006. On Thursday, the 2-year Treasury yield rose to levels not seen in almost seventeen years as investors pondered further Fed rate hikes. The 10-year Treasury yield also surged today amid expectations for fresh economic data. 2-Year Treasury Yield Rises as High as 4.937% Although the yield on the 2-year Treasury last traded at 4.9017% following a marginal basis-point increase, it earlier rose by 4.937%. According to reports, the…