By Vildana Hajric and Lu Wang Bitcoin is facing a make-or-break moment following a recent bout of selling, according to technical analysis. Though the cryptocurrency has rebounded above its average price over the past 100 days, it’s still trading below its 50-day moving average. Such a dynamic typically indicates an asset is nearing an inflection … Read more
By Vildana Hajric and Katie Greifeld It keeps getting worse for holders of the Grayscale Bitcoin Trust, which is now trading at a record discount to the value of the digital assets it holds. The $35 billion fund (ticker GBTC) has lost roughly a fifth of its value since last Friday while Bitcoin tumbled from … Read more
LONDON: Bitcoin hit a record of $62,575 on Tuesday, extending its 2021 rally to new heights. The world’s biggest cryptocurrency has more than doubled in price this year amid growing mainstream acceptance as an investment and a means of payment, and as investors seek high-yielding assets amid low interest rates. Major firms including BNY Mellon, … Read more
At midday, the market cap was at $2.02 trillion. Bitcoin was last up 1.4% at $59,025, with a market cap of $1.1 trillion. Source link
By Olivia Raimonde Ether, the world’s second-largest cryptocurrency rose to $2,000 for the first time, as the rally in digital assets continues to broaden beyond Bitcoin. The digital token for the Ethereum network gained as much as 2.3% to $2,014 on Friday. It has surged about 170% this year. The Bloomberg Galaxy Crypto Index gained … Read more
Twitter Inc boss Jack Dorsey said on Tuesday he will convert proceeds from the digital auction of the first ever tweet on the platform to bitcoin for charity. “just setting up my twttr” – the first ever tweet went live for sale after Dorsey listed it as a unique digital signature on a website for … Read more
Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold. “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere,” Musk said in a tweet. “Bitcoin is almost as … Read more
By Joanna Ossinger and Eric Lam Bitcoin reached another record, coming ever closer to $50,000, as the world’s largest cryptocurrency extends its breathtaking rally. The token climbed as much as 3.6 per cent to $49,913 in Asian trading Tuesday, according to a composite of prices compiled by Bloomberg. Bitcoin’s volatile, fivefold advance over the past … Read more
Federal Reserve Chair Jerome Powell is expected to maintain the central bank’s aggressive support of the US economy, despite having spied “light at the end of the tunnel” from the Covid-19 pandemic. The Federal Open Market Committee is all but certain to hold interest rates near zero at the conclusion of its two-day policy meeting … Read more
Mumbai: Bullish bets on bitcoin has emerged as the most crowded trade for the first time since October 2019, according to a survey of fund managers by Bank of America Securities. About 36 per cent of the respondents identified ‘long bitcoin’ as the most crowded trade. A total of 217 fund managers with $596 billion … Read more