This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day. Latest Prices CoinDesk 20 Index: 1,838.51 +0.82% Bitcoin (BTC): $59,071.10 +0.46% Ether (ETH): $2,310.05 +0.23% S&P 500: 5,633.09 +0.13% Gold: $2,575.42 -0.32%…
Michael Saylor, the co-founder and current chairman of MicroStrategy, announced the latest massive BTC purchase his company made. With it, the business intelligence software giant’s total Bitcoin stash skyrocketed to 244,800 BTC, worth more than $14 billion at current prices. MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408…
Bitcoin has proven itself as a solid store of value, but it hasn’t been great for big returns. After a big drop from $68,000 to $55,385, losing almost 20%, Bitcoin has been stuck in a tight range between $55,500 and $58,000 since September started. But hope is on the horizon…
Bitcoin’s price fell below $60,000 on Tuesday and Wednesday after posting big gains over the weekend following the Fed’s pivot to lower interest rates. The spot price briefly peeked over $65,000 before coming back down. But Bloomberg’s McGlone is bearish despite the market’s moves. He thinks BTC’s apparent lack of…
This article originally appeared in First Mover, CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day. Latest Prices CoinDesk 20 Index: 2,004 −3.5% Bitcoin (BTC): $62,471 −2.4% Ether (ETH): $2,632 −4.1% S&P 500: 5,616.84 −0.3% Gold: $2,547 +1.2%…
BTC bulls failed to penetrate critical resistance after positive U.S. inflation data, leaving the doors open for more losses. Downside may be limited as recent supply overhang from Germany’s Saxony state has exhausted. Fed rate cut bets, FTX repayments may offer support, according to a prime broker. Thursday was a…
Thursday’s U.S. CPI updated is expected to offer evidence of continued progress on the inflation front, boosting the Fed rate cut probability. Increased prospects of Fed rate cuts could bode well for BTC’s recovery. BTC bulls should watch out for a potential “steepening” of the Treasury yield curve. With the…
Mt. Gox’s bankruptcy redemptions are bearish for BCH, not BTC, writes Presto Labs’ Peter Chung. Mt. Gox will send back to its former customers $73 million worth of BCH, worth over 20% of the token’s daily trading volume. Fears that selling pressure from bankruptcy redemptions from the estate of Mt.…
The bounce was broad-based, with nearly all cryptocurrencies of the Coindesk Market Index up in the past 24 hours. Funding rates for some altcoins and memecoins turned deeply negative, potentially leading to a swift move higher in a short squeeze, QCP Capital noted. Crypto markets climbed higher Monday with bitcoin…
Bitcoin dropped below $41,000 in the last 24 hours before making a recovery to rise above that level once again. This has become the current reality of the flagship crypto token’s price, which has continued to decline since the Spot Bitcoin ETFs were approved. This is surprising considering that these…