An anonymous whale has acquired $792 million worth of Bitcoin following a brutal liquidation event that wiped out $1.05 billion in leveraged positions after unexpectedly high US inflation data triggered widespread market selloffs. The massive purchase occurred as Bitcoin retreated from its new all-time high of $124,457 to current levels around $119,000. The acquisition also…
A morning soundbite from Treasury Secretary Scott Bessent briefly rattled Bitcoin and crypto markets on Thursday before a late-day clarification restored the policy baseline: the United States won’t be sellers, and “budget-neutral” options to grow the country’s bitcoin stockpile remain on the table. Senator Cynthia Lummis swiftly framed the endpoint. “America needs the BITCOIN Act,”…
As the market rally continues, Bitwise’s CIO has outlined some of the bullish catalysts that he believes the market is overlooking and could send the crypto market prices substantially higher in the coming months and years. Governments, Central Banks To Push Crypto Prices Higher In a Wednesday memo to clients, Bitwise CIO Matt Hougan outlined…
The cryptocurrency market has been delivered a shock after US Treasury Secretary Scott Bessent said the government doesn’t plan to buy Bitcoin. US Government Doesn’t Plan To Buy More Bitcoin For Strategic Reserve In an interview with Fox Business, Bessant has touched on the topic of the Strategic Bitcoin Reserve and has confirmed that the…
The crypto market saw broad declines over the past 24 hours after US July PPI data came in hotter than expected, dampening hopes for a September rate cut. Meme tokens led the sell-off with an 8.62% drop, as PEPE, SPX6900, and Fartcoin plunged over 10% each. Ethereum fell 2.43%, briefly slipping under $4,500 before rebounding,…
Treasury Secretary Scott Bessent has walked back earlier remarks that the US would not acquire BTC for its Strategic Bitcoin Reserve, a shift that has left the policy direction murky. Speaking on Fox News on Thursday, Bessent told anchor Maria Bartiromo that while Washington intends to develop a reserve “to get into the 21st century,”…
Bitcoin briefly set a new all-time high above $124,000 earlier today before experiencing a sharp retracement that brought the asset back below the $120,000 level. As of press time, BTC is trading at $118,336, representing a weekly loss of 1.9% and a 4.5% decline from its peak. The price shift comes amid notable on-chain developments…
SpaceX’s remaining Bitcoin holding climbed above $1 billion when Bitcoin hit fresh highs, but the rally cooled after a statement from the US Treasury. According to Arkham Intelligence data reported by multiple outlets, the aerospace firm holds 8,285 BTC, worth about $1 billion at recent price levels. SpaceX Moves And Holdings According to on-chain trackers,…
Bitcoin price is trimming gains from the $124,000 zone. BTC is now consolidating below $120,000 and might aim for a recovery wave. Bitcoin started a downside correction from the $124,000 zone. The price is trading below $122,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with…
The Bitcoin Realized Price has surged above the asset’s 200-week moving average (MA). Here’s what could happen next, according to history. Bitcoin Realized Price Has Overtaken 200-WMA For First Time This Cycle As pointed out by analyst James Van Straten in a new post on X, the Bitcoin Realized Price and 200-week MA have seen…