A large on-chain Bitcoin ($BTC) movement involving crypto exchange BitMEX has drawn attention across the cryptocurrency market. The transaction saw a wallet linked to BitMEX activate a UTXO containing 13,280 $BTC. At the current price of $70,000 per coin, the on-chain activity represents nearly $930 million in value moving across the blockchain. Key Points A
The U.S. labor market delivered a major surprise on Friday, after new data showed the economy lost 92,000 jobs. It marks one of the rare monthly employment declines since the pandemic era. The weak report raises concerns about the strength of the economic recovery. Bitcoin fell below $70,000 as financial markets remain skeptical that policymakers
Bitcoin surrendered its $70,000 support level, triggering a broader crypto market retreat that wiped out $329 million in leveraged positions. This downturn was fueled by a perfect storm of geopolitical and macroeconomic pressures. Wiping out the ‘War Gains’ Bitcoin’s midweek resilience crumbled Friday, March 6, as the cryptocurrency surrendered the psychological $70,000 stronghold. After a
The Bureau of Labor Statistics reported that nonfarm payrolls fell by 92,000 jobs in February. The market had expected a gain of about 58,000 jobs, while unemployment rose to 4.4%, above forecasts of 4.3%. The miss immediately pushed Fed rate cut expectations higher as investors reacted to clear weakness in the labor market.
At a certain point, Strategy investors might start asking themselves what the difference is between STRC and just buying bitcoin ($BTC) on a credit card. Michael Saylor has called STRC his company’s “greatest feat of financial engineering to date,” but its costs keep getting worse. Indeed, its dividend obligations have increased 27% since July,worsening every
AI is infiltrating every layer of society, finance included. What began as asking ChatGPT about your deepest money worries has rapidly evolved into agents capable of reasoning, executing and coordinating across markets with minimal human intervention. The pace of change at the intersection of AI and finance is daily, not weekly. Goldman Sachs has warned
Renowned macro investors Anthony Scaramucci and Galaxy Digital CEO Mike Novogratz discussed the current state of the cryptocurrency market, allegations of manipulation, and future expectations in their latest broadcast. Amidst geopolitical tensions in the Middle East, markets are giving signals that “the worst may be over” for Bitcoin. Mike Novogratz displayed cautious optimism when evaluating
Federal Reserve Board member Stephen Miran, in his statements regarding monetary policy, argued that the current policy is too tight and called for interest rate cuts. Miran stated that the Fed’s current approach is too tight for the economy and that the policy interest rate should be lowered to a neutral level. Miran stated that
Bitcoin dropped from above $70,000 to about $68,700 on Friday on disappointing US labour market data. Nonfarm payrolls fell by 92,000 in February, markedly undershooting economists’ expectations for roughly 50,000 new jobs, according to the Bureau of Labor Statistics. The decline erased much of January’s 126,000 job gain and pushed the unemployment rate up to