US Treasury Secretary Scott Bessent walked back a line that rattled Bitcoin markets on Thursday, saying the Treasury is still looking at ways to add to a Strategic Bitcoin Reserve without raising taxpayer costs. He had earlier told Fox Business that “we’re not going to be buying that,” but later posted on social media that…
The crypto market is down today, with more than 90 of the top 100 coins turning red over the past 24 hours. In this time, the cryptocurrency market capitalization has decreased by 2.4% to $4.12 trillion. At the same time, the total crypto trading volume is at $267 billion, the highest it’s been in days….
Bitcoin is trading at $119,040, staging a modest rebound after slipping from the $123,236 resistance earlier this week. On the 4-hour chart, price remains within a broad ascending channel that has guided its uptrend since early August. The 50-SMA at $118,753 is acting as dynamic support, repeatedly halting intraday pullbacks, while the 0.236 Fibonacci retracement…
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…