Bitcoin (BTC) liquidated $200 million of long positions on Nov. 8 as BTC price briefly tumbled to two-year lows. BTC price sets new two-year low Data from Cointelegraph Markets Pro and TradingView revealed carnage across crypto price charts as exchange FTX kept the mood low. After initially rebounding over $20,000 on news that the embattled FTX might be bought out by competitor Binance, panic returned after the Wall Street open. BTC/USD lost $2,000 in under two hours, seeing a sudden plunge which set a low of $17,120 on Bitstamp. The last time the pair traded at that level was in …

After topping the $21,500 mark on Nov. 4, Bitcoin (BTC) price is down by 14% on Nov. 8, reaching a new yearly low at $17,166 and most altcoins are following suit. While the Binance and FTX news initially caused an uptick in the market, the day turned south as various unconfirmed sources speculate that FTX’s losses could show a $6 billion deficit. This price decline breaks Bitcoin’s short-term correlation to the stock market, with the tech-heavy Nasdaq down only 0.32%, while the Dow Jones gained 0.48% on the back of investors’ optimism about the Nov. 8 U.S. Midterm elections. In …

Bitcoin BTC saw major volatility after the Nov. 8 Wall Street open as turmoil over exchange FTX punished markets further. Binance hints at plan to buy FTX Showed BTC/USD hitting $19,244 on Bitstamp, marking the pair’s lowest levels in two weeks and 24-hour losses of nearly 7%. FTX remained the main topic in the industry, despite the United States midterm elections getting underway and Nov. 10 due to deliver fresh inflation data. “Event of the week was supposed to be US CPI on Thursday, not two billionaires with acronyms for names nuking the market,” popular commentator Tedtalksmacro summarized. Worries over …

Chainlink (LINK) returned to mimic the broader crypto market downtrend as its price fell alongside top coins Bitcoin (BTC) and Ether (ETH) on Nov. 8. LINK plunged by as much as 10% into the day to reach $8. While BTC and ETH slipped by approximately 6.5% and 9%. That contrasts with the trend witnessed on Nov. 7, wherein LINK rallied 14% to $9.25, its three-month high, while BTC and ETH dropped 1.5% and 0.5%, respectively. Overall, on a week-to-date timeframe, Chainlink has outperformed both Bitcoin and Ethereum. What's making Chainlink stronger LINK's price has rebounded by nearly 75% after bottoming …

Bitcoin (BTC) and crypto markets fell heavily into Nov. 8 as contagion from the FTX debacle spilled over. Analysts dismiss FTX insolvency fears Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to $19,351 on Bitstamp — its lowest levels since Oct. 25. The pair, along with altcoins large and small, had already begun to show weakness as moves by Binance to cancel exposure to FTX’s in-house (FTT) token were confirmed by CEO Changpeng Zhao. In a Twitter thread later on Nov. 7, Zhao defended the decision, while FTX CEO Sam Bankman-Fried attempted to reassure markets that his trading …

147 days have passed since Bitcoin (BTC) closed above $25,000, and the result is that investors are less sure that the $20,000 support will hold. Backing these concerns are persistent global financial and macroeconomic tensions, which escalated on Nov. 7 after European Union officials expressed concerns over the $369 billion U.S. Inflation Reduction Act. The extended tax, health and climate bill was approved in August and it also includes subsidies for electric cars and battery supply chains that are made in North America. According to CNBC, this is not the first time that Europe has expressed its concerns, citing international …

Bitcoin BTC stayed lower at the Nov. 7 Wall Street open as the day before U.S. midterm elections opened to flat equities performance. Crypto wobbles on FTX woes Data from Cointelegraph Markets Pro and TradingView showed BTC/ USD nearing $20,600 at the time of writing — a three-day low. Volatility was expected around the midterms and the Consumer Price Index (CPI) print for October later in the week. An additional hurdle in the form of controversy over trading platform FTX added to the market’s cold feet, with commentators wary of unnecessary damage to growth. “This whole thing is incredibly bad …

Bitcoin (BTC) starts the second week of November battling some familiar FUD — how will BTC price action react? The largest cryptocurrency managed a weekly close just below $21,000 on Nov. 6 — an impressive multi-week high — but remains fixed in a sticky trading range. Despite seeing highs of nearly $21,500 over the past week, there has yet to be a catalyst capable of breaking the market status quo, but the coming week has as good a chance as any of doing so. Nov. 10 will see key United States inflation data for October released, while jobless claims and …

Bitcoin (BTC) holders looking to avoid Central Bank Digital Currencies (CBDCs) may have gained a surprise ally — banks. In his latest blog post, “Pure Evil,” Arthur Hayes, ex-CEO of crypto derivatives platform BitMEX, argued that banks may limit the impact of the CBDC “horror story.” Hayes: Bitcoiners and banks stand against CBDC "dystopia" CBDCs are currently in various stages of development worldwide. Fans of financial sovereignty naturally fear and even despise them, as they imply total government control over everyone’s money and purchasing power — “a full-frontal assault on our ability to have sovereignty over honest transactions between ourselves,” …

Bitcoin (BTC) held gains above $21,000 into Nov. 5 as the U.S. dollar posted a rare major daily decline. Dollar dives 2% as risk assets recover Data from Cointelegraph Markets Pro and TradingView showed BTC/USD building on prior strength to hit highs of $21,473 on Bitstamp — a new seven-week high. The pair had benefited from the latest United States economic data, while the dollar conversely suffered. The U.S. dollar index (DXY) lost 2% in a day for the first time in years, helping fuel a risk asset rally. “And, just like that, Bitcoin took out all the highs, volume …

Since March 2022, traders and so-called analysts have been forecasting a policy change or pivot from the United States Federal Reserve. Apparently, such a move would prove that the Fed’s only available option is to print into oblivion, further diminishing the value of the dollar and enshrining Bitcoin (BTC) as the world’s future reserve asset and ultimate store of value. Apparently. Well, this week (Nov. 2) theFed raised interest rates by the expected 0.75%, and equities and crypto rallied like they usually do. But this time, there was a twist. Prior to the FOMC gathering, there were a few unconfirmed …

Institutions' investment in crypto has increased in 2022 despite the bear market, according to a recent survey by Fidelity Digital Assets. In particular, the amount of large investors betting on Ethereum have doubled in the last two years, as revelead by Chris Kuiper, the Head of Research at Fidelity Digital Assets in a recent interview with Cointelegraph. “The percentage of respondents saying they were invested in Ethereum doubled from two years ago”, pointed out Kuiper. Kuiper pointed out that Ethereum’s appeal in the eyes of institutions is likely to increase even more now that after the Merge, Ether has become …