Bitcoin ($BTC) stayed wedged at $64,000 on Wednesday’s Wall Street open as gold hit six-week highs. Key points: Gold analysis eyes Chinese demand as the precious metal hits its highest levels in six weeks. Bitcoin sees a second day of lackluster performance against US stocks as the S&P 500 builds on all-time highs. China in
Strategy’s (MSTR) perpetual preferred stock, Stretch (STRC), has risen more than 30% from its June low. It is currently trading around $94, after gaining another 1% on Wednesday. STRC bottomed in late June around $71 as bitcoin fell below $60,000. Since then, Strategy has sold 5,226 $BTC for $321 million across three separate transactions, reducing
Bitcoin price-metric basket sees longest capitulation since FTX blow-up: Glassnode Bitcoin ($BTC) is seeing its longest capitulation since the end of the 2022 bear market, onchain analytics platform Glassnode reported on Monday. Key points: 45 Bitcoin price metrics tracked by Glassnode are in their longest “capitulation” phase since the collapse of FTX in late 2022.
As the Bitcoin network debates the fate of BIP-110, a proposal aimed at curbing non-monetary data on the blockchain, developer Chris Guida has taken proactive steps to prepare a contingency plan. Guida has reworked the 2017 proof-of-work (PoW) change code to be compatible with the latest version of Bitcoin Knots, a full-node implementation, according to
There’s an old saying that “every coin has two sides.” It applies perfectly to the multimillion-dollar hack of the hardware wallet Coldcard that began on July 30 and is still in progress. On one hand, the hack raised questions about the safety of taking direct custody of coins in hardware wallets as a long-term holding
A historically profitable bitcoin BTC$64,196.50 trading rule, built around the cryptocurrency’s four-year halving cycle, is pointing toward another potential buying opportunity. But this time around, the pattern might not work as well as before, as spot bitcoin ETFs and institutional investors influence the market more than ever before. The “500-Day Rule,” popularized by Pantera Capital
For years, bitcoin $BTC$64,196.50 trounced stocks and most other assets, and supporters pointed to that outperformance as proof it was the best store of value around. Now, one chart suggests that edge may be fading. That chart is the S&P 500-to-bitcoin ratio. It measures how much bitcoin it takes to buy the index. Today it
Bitcoin’s price recovery from the dip to $62,200 continues, as the asset has added two grand and now sits confidently above $64,000. It appears that the market is pricing in the latest positive development on the Middle East uncertainty. A report from Axios from earlier this morning indicated that the US, Iran, and Oman are
U.S. spot Bitcoin exchange-traded funds recorded net inflows of approximately $211.5 million on Aug. 4, marking a second consecutive trading day of positive flows, according to data from Farside Investors. The latest figures suggest a rebound in investor appetite for regulated crypto exposure after a period of mixed activity. BlackRock and Fidelity Lead the Inflows
Bitcoin and other majors were little changed on Wednesday even as global equities pushed to fresh records on renewed enthusiasm for the AI trade, leaving crypto out of a rally it would normally follow. BTC traded just above $64,000, up under 1% on the day and roughly flat over seven days. Ether slipped to $1,864