Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll
Key Takeaways Our Head of Research, Dan Ashmore, digs into Bitcoin’s relationship with stocks Correlation between Bitcoin and the Nasdaq is at its lowest point since 2018 The Nasdaq is up 10% in the last month as stocks have surged off softer forecasts around interest rates and the macro climate Bitcoin is down 9% in […]
Bitcoin price dips below $25k after Fed decision- what next?
Bitcoin price fell below $25,000 after the Fed rate pause news. An analyst points out that the decline saw bulls lose a 7-month trendline support and $20k-$22k could be next. The main resistance zone is between $26k and $28.3k, which can be touched if BTC bounces back. Bitcoin price broke below the $25,000 level overnight […]
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Crypto industry ‘destined’ to be BTC-focused due to regulators, says Michael Saylor
Key takeaways Crypto industry will be BTC-focused MicroStrategy co-founder Michael Saylor believes that the cryptocurrency industry is destined to become BTC-focused. He made this statement during an interview with Bloomberg. According to Saylor, Bitcoin is the only major cryptocurrency that has been excluded as a security by the US Securities and Exchange Commission (SEC). He pointed […]
Here’s why the Nasdaq 100 and Bitcoin correlation has faded
Bitcoin price has crashed by about $6,000 from its highest point this year. Nasdaq has moved into a strong bull market because of AI. The Federal Reserve will conclude its two-day meeting on Wednesday. Nasdaq 100 and Bitcoin prices have moved in the opposite direction in the past few weeks. The tech-heavy Nasdaq 100 index […]
Ordinals and enterprise adoption drove network revenues for Bitcoin and Ethereum in May: Report
Bitcoin revenue jumped 249% YoY in May, while Ethereum network fees rose 53.7% in May, according to a research report by the ETC Group. Ordinals and enterprise adoption drove network revenues for Bitcoin and Ethereum respectively. Regulation and macroeconomics remain key factors even as benefits of tokenisation attracts major banks. The current market outlook for […]
Solo Bitcoin miner wins 6.25 BTC block reward
A solo Bitcoin miner earned the 6.25 BTC block reward after beating the odds to solve block 793607. The miner reportedly used an Antminer S9 with about 17 TH. At today’s Bitcoin mining difficulty and with 17 TH, a solo miner would need an average of 450 years to land a block. With Bitcoin price […]
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Binance.US delists 40 trading pairs, pauses OTC trading
Binance.US is delisting advanced trading pairs for coins such as AAVE, BCH and MKR on June 8. The 40 coins being delisted are for advanced trading pairs of USDT, BTC and BUSD. Binance.US has also paused its OTC trading, but says withdrawals and deposits remain open. Binance.US, the US-based subsidiary of the world’s largest cryptocurrency […]
Bitcoin mining difficulty hits all-time high, above 50 trillion hashes
Key Takeaways Bitcoin mining difficulty has surpassed 50 trillion hashes for the first time ever Higher difficulty means more competition and less profit for miners, but also more security for the Bitcoin network Higher mining difficulty means greater energy input required to mine Bitcoin, meaning greater cost for miners Mining stocks have underperformed Bitcoin significantly […]