Crypto just closed one of the ugliest earnings weeks in its short public-market history. Strategy, the largest corporate holder of Bitcoin on the planet, reported an $8.22 billion net loss for the second quarter. Coinbase followed with a $359 million loss and its third consecutive revenue miss. And Bitcoin, the asset underneath both stories, spent
Strategy Founder and Executive Chairman Michael Saylor believes Bitcoin is at a key inflection point right now, one that could mark its bottoming phase. During Strategy’s Q2 earnings call on Thursday, Saylor claimed that $BTC had dropped to its 200-week Moving Average (MA). In saying so, he urged investors to take advantage of the signal
Bitcoin is currently hovering at around $62.9K. The $BTC chart is forming a bearish engulfing pattern. The dominant digital asset, Bitcoin ($BTC), is currently trading at $62,984 with a session range between $62,410 and $64,432. Meanwhile, its trading volume is sitting at $27.84 billion, with the $BTC market having seen $97.62 million in liquidations over
Bitcoin price hovered near $63,000 on Aug. 1 as US ETF outflows, weakening momentum and regulatory uncertainty kept buyers on the sidelines. Bitcoin price struggles to hold $63,000 According to data from crypto.news, Bitcoin (BTC) price traded at approximately $63,082 at the time of writing after briefly falling below $63,000 during the latest selloff. The
Bloomberg Intelligence estimates the average net cost basis of US spot Bitcoin ETF capital at roughly $82,249, leaving the position about 22% underwater and sitting on $16.33 billion in unrealized losses. On Aug. 14, large investment managers must disclose their June 30 Bitcoin ETF positions, and those filings offer the clearest look yet at whether
Bitcoin has entered a bottoming phase that could last one to three months, according to prominent crypto analyst PlanB, known for his stock-to-flow price models. In a post on X, PlanB noted that Bitcoin closed July at $62,818, while its 200-week moving average stood at approximately $63,000. Understanding the Bottoming Process PlanB, whose real name
The negative premium period on the US-based cryptocurrency exchange Coinbase, caused by the Bitcoin price falling below Binance’s, has reached its longest period to date. According to CoinGlass data, the Coinbase Bitcoin Premium Index remained in negative territory for 75 consecutive days between May 19 and August 1. The index’s final value was recorded at
U.S. spot Bitcoin exchange-traded funds recorded net outflows of approximately $265.4 million on July 31, according to data from Farside Investors. The reversal ends a two-day streak of net inflows, signaling a shift in investor sentiment amid broader market uncertainty. Fund-Level Breakdown Leading the outflows was BlackRock’s IBIT, which saw $122.7 million leave the fund,
Bitcoin tried but failed at $65,000 on several occasions in the past week, and there are now multiple and different signals suggesting that another leg down is on the cards. From war escalation to ETF withdrawals, let’s dive in. Macro Factors Let’s start with the Wednesday developments on US soil when the central bank decided
Strategy is exploring a capital management framework that may permit the sale of up to $5 billion in Bitcoin. This initiative aims to support $1.25 billion in USD reserves, alongside funding for dividends and buybacks. The implications of this strategy could significantly influence Bitcoin’s market dynamics as it may affect supply and overall investor sentiment,