Bitfinex provided critical insights into the recent dynamics surrounding Bitcoin’s price movement, specifically noting that Bitcoin broke its 24-day range, closing at $75,702, down 3.2%. On the same day, ETFs sold $450.4 million worth of Bitcoin. This commentary underscores the growing institutional interest and could signal future market behavior. Read more here. The Story So
The Federal Reserve unanimously voted to raise its benchmark interest rate by 25 basis points, bringing the new target range to 3.75% to 4.00%. Bitcoin dropped to an intraday low of $75,242 earlier today on the Bitstamp exchange. BTC/USD via TradingView According to the central bank, this move is specifically designed to support a timelier
Morgan Creek Capital CEO Mark Yusko has said that bitcoin’s fair value is $105,000 based on Metcalfe’s Law. Speaking on Bitcoin Magazine TV on Wednesday, the investment management firm said that now was the best time to buy the leading cryptocurrency as it is “on sale.” Metcalfe’s Law, an observation by Internet entrepreneur Robert Metcalfe,
Jiang Zhuoer, founder of the B.TOP mining pool, suggested that the cryptocurrency market could experience a decline followed by a rise after the Fed’s interest rate decision. According to Zhuoer, Bitcoin ($BTC) could test below $75,000 before recovering to the $83,000-$84,000 region. Jiang Zhuoer stated that the Fed will announce its interest rate decision today
Bitcoin has fallen to around $75,600 over the past 24 hours as the failed US Senate vote on the CLARITY Act, rising Treasury yields and leveraged liquidations hit the market hours before the Federal Reserve’s interest rate decision. Per CoinGecko data at press time, $BTC was trading at $75,601 down 1.3% over 24 hours and
Bitcoin returned to the $75,000 support zone after the U.S. Senate failed to advance the CLARITY Act, while risk-off pressure hit crypto markets. The Senate rejected cloture on H.R. 3633 by 49-50, falling short of the three-fifths threshold required to advance the bill. As the vote appeared headed for failure, Bitcoin fell more than 5%,
Bitcoin is gaining market share as $BTC dominance holds near 59.46%, while TOTAL2 has fallen toward $1.04 trillion. This divergence confirms stronger relative performance for Bitcoin, although it does not prove that fresh capital is flowing directly into $BTC. TradingView calculates $BTC dominance by dividing Bitcoin’s market capitalization by the total value of its top
Bitcoin has failed to activate every proposed soft fork since Taproot went live in 2021, leading Drivechain creator Paul Sztorc to argue that the network cannot approve any such upgrade for the foreseeable future. Paul Sztorc, CEO of LayerTwo Labs and creator of the Drivechain proposal, told crypto.news that BIP-110’s failed activation points to a
Bitcoin bears have built a large pool of short positions above the current price after the U.S. Senate blocked further progress on the Clarity Act. CoinGlass data shows $4.79 billion in short liquidation leverage above $75,982, nearly 2.5x the $2.05 billion in long-side exposure below that level. This could increase the risk of a short
Michael Saylor, the chairman of [company name missing], has joined the buzzing discussion on the recent failure of the CLARITY Act after the Senate failed to pass the bill, driving negative momentum across the crypto market ecosystem. In his post, Michael Saylor has sent assuring words, stating that the setback does not necessarily mean the