On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally. To kick things off, we broke down the latest news in the markets this week Bitcoin (BTC) to lose $21K despite miners’ capitulation exit? Five things to know in
Bitcoin News
Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips
After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo must trim the size of
2022 has been an exceptionally rough year for the crypto market, and the last few months of Bitcoin’s (BTC) price action could be a sign that bears aren’t even close to being ready to let up. Crumbling crypto prices also equate to diminishing profits for Bitcoin miners and this week’s regulatory action by the United
press release SINGAPORE — 8 July 2022 — TOKEN2049, Asia’s premier crypto conference, has announced a new batch of title sponsors and speakers for its upcoming Singapore edition which will be running from 28 to 29 September. This year marks the conference’s Singapore debut, making for a thrilling week of activities as some of the
Bitcoin (BTC) drifted near $21,000 on the Aug. 22 Wall Street open as the new week began without a rebound. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView European commodity surge hammers euro Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to summon a comeback after last week’s 11.6% losses. The pair put in
Bitcoin (BTC) starts a new week fresh from a new multi-week low amid a return of highly nervous sentiment. After dipping below $21,000 over the weekend, the largest cryptocurrency is consolidating around 10% lower than a week ago, and the fear across crypto markets is clearly visible. As some call for new lows and others
On Sunday, August 21, 2022, the floor value of the Cryptopunks non-fungible token (NFT) collection briefly surpassed the Bored Ape Yacht Club (BAYC) NFT collection’s floor value. While it’s not by a huge amount, at the time, Cryptopunks floor was 66.45 ether, while BAYC’s least expensive NFT was 64.99 ether. Cryptopunks Fleetingly Reclaims the Throne
Bitcoin ATM manufacturer General Bytes had its servers compromised via a zero-day attack on Aug. 18, which enabled the hackers to make themselves the default admins and modify settings so that all funds would be transferred to their wallet address. The amount of funds stolen and number of ATMs compromised has not been disclosed but
The crypto market registered a major slump on Friday, resulting in major cryptocurrencies losing key support and falling to new monthly lows after a prolonged bullish surge over the past month. Bitcoin (BTC), which was looking to break through the $25,000 resistance level last week, fell below $22,000 to register a new two-week low of
One of the most substantial value propositions of Bitcoin (BTC) is that no one can create more of it apart from its fixed supply. However, an executive from a crypto exchange made a bold claim that some exchanges can create and sell BTC that’s only in their system, not on the blockchain, to manipulate the
Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital tokens. Russia’s Top Exchange to Facilitate Trading of Financial
Bitcoin (BTC) recovered modestly on Aug. 20 but remained on course to log its worst weekly performance in the last two months. Bitcoin hash ribbons flash bottom signal On the daily chart, BTC’s price climbed 2.58% to $21,372 per token but was still down by nearly 14.5% week-to-date, its worst weekly returns since mid August.
Japanese financial giant SBI Holdings has partly terminated cryptocurrency mining in Russia due to geopolitical uncertainty and the crypto winter. SBI Holdings suspended mining operations in Russia’s crypto mining-rich region of Siberia, citing reasons like the Russia-Ukraine conflict and the ongoing bear market, Bloomberg reported on Thursday. The Japanese online brokerage shut down the Siberian
According to a recently published report, the decentralized exchange (dex) Uniswap has blocked roughly 253 cryptocurrency addresses allegedly tied to crimes or government sanctions. The information was discovered by the software developer Banteg who analyzed and saved the shared logs from Uniswap’s server. 30 out of the 253 Blocked Addresses Are ENS Domain Names, Uniswap
The Bitcoin Standard has many formations. For some, selling all possessions and living off magic internet money is key; for others, it’s about sweeping every spare penny into Satoshis. For popular podcaster Peter McCormack–an avid football fan–it meant buying his local club and signing Bitcoin (BTC) onto the team sheet. Bitcoin advocate McCormack acquired his