Bitcoin (BTC) shed $1,000 in minutes on Monday as fresh news from China succeeded in routing bulls yet again. Third-biggest Chinese bank warns on crypto Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local lows beneath $32,500 on Monday. The cause, which disturbed a day of recovery from another dip, appeared to once again come from China via a major bank statement that confirmed it would not allow the use of its services for transactions related to Bitcoin or cryptocurrency. Involved was China’s third-largest bank, the Agricultural Bank of China. “The statement emphasized that once relevant behaviors are …

Bitcoin (BTC) and the wider financial markets faced a new wave of selling on June 18 following comments from James Bullard, the president of the United States Federal Reserve Bank of St. Louis, indicating that he expects the first interest rate increase to happen in late 2022. Bullard's comments were even more hawkish than Wednesday’s comments from Fed Chair Jerome Powell, who indicated that the rate hikes would come in 2023. Powell's comments triggered a sell-off across financial markets as the U.S. dollar gained strength. Data from Cointelegraph Markets Pro and TradingView shows that as the dollar was strengthening, Bitcoin …

If one looks at Dogecoin (DOGE) charts from the point of view of a financial chartist, he/she will notice an alarming presence of a classic bearish structure. For instance, pseudonymous analyst Tyler Durden highlighted what appears to be a "Head and Shoulder" pattern. The trading structure forms when an asset forms three peaks atop the same support level. In doing so, its middle peak comes out to be higher than the other two. Durden flashed the Head and Shoulder-like pattern to predict a 67% price crash in the Dogecoin market. Calling it "programmed," the analyst hinted at the pattern's tendency …

Bitcoin (BTC) suffered as investors moved a record amount of cash in Federal Reserve's overnight facility after the central bank started paying interest on the money. The U.S. central bank received $756 billion via its reverse repurchase program from nearly 70 market participants on Thursday. The stash is about $172B higher than the one deposited last week and roughly $235B more than on Wednesday, wherein only 53 investors tapped the facility. A reverse repo facility takes in cash majorly from money-market funds and government-sponsored banks. Until Wednesday, the service offered eligible users a return interest of zero percent. But after …

Bitcoin (BTC) price dropped another notch to $37,365 today after a failed attempt by bulls to retake the $40,000 level. The renewed slump comes as the stock market and commodities also pulled back as a result of Federal Reserve Chair Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation which led to pdeclines for both Bitcoin and gold. Data from Cointelegraph Markets Pro and TradingView shows that the price of BTC climbed from $38,200 in the early trading hours on Thursday to a high above $39,500 by midday before being pummeled down to a low …

In an exclusive interview with Cointelegraph during Bitcoin 2021 in Miami, Greenspan criticized a segment of Bitcoin (BTC) maximalists for being “small-minded and insecure,” pointing out that they don't have control over the main cryptocurrency. “They cannot stop any kind of innovation from happening. So let them yap, it doesn't bother me,” said Mati Greenspan, founder and CEO of Quantum Economics, about Bitcoin maximalists. Greenspan‘s statements came a few days after a number of Bitcoin hardliners attacked him on Twitter for calling the Bitcoin conference in Miami “a crypto conference.” Greenspan’s inclusive view on crypto is also reflected in his …

Mirror Protocol (MIR) emerged as one of the best performing tokens in the cryptocurrency market on May 17, even as its top trading rivals Bitcoin (BTC) and Ether (ETH) struggled to find direction after a depressive previous daily session. The MIR/USD exchange rate surged by up to 26.71% to reclaim its two-week high of $4.974. The pair's move uphill came as a part of a broader upside correction that started on Wednesday after the Federal Reserve revealed its intention to hike benchmark interest rates by the end of 2023. Bids for MIR/USD were as low as $3.971 ahead of the …

In terms of price potential, Bitcoin (BTC) is staring at the possibility of outperforming Ether (ETH) in the short term. So believes David Lifchitz, chief investment officer at ExoAlpha — a Paris-based investment management service — who noted that Bitcoin’s upside potential in the near term is higher than that of Ether’s. He said so after spotting a recent shift in the BTC/ETH ratio. In detail, BTC/ETH compares the trend momentum of Bitcoin and Ether. A lower reading suggests that Bitcoin’s price is rising slower than Ether’s. Conversely, a higher BTC/ETH ratio indicates that the Bitcoin price momentum is gaining …

Bitcoin dropped closer to a key support level and the Dow and the S&P 500 pulled back after the Federal Reserve moved forward its plan for 2 interest rate hikes in 2023. Bitcoin (BTC) price extended its losses shortly after Federal Reserve Chair Jerome Powell announced that the Fed would move forward its timeline and schedule two interest rate hikes in 2023. Bitcoin price was already seeing weakness in the early trading hours after losing the $40,000 level to mark an intra-day low at $38,300. The Dow and S&P 500 also pulled back 0.77% and 0.54% respectively. The decision comes …

The cryptocurrency market is in the midst of another lackluster day on June 16, with the price of Bitcoin (BTC) dipping below $40,000 ahead of the Federal Open Market Committee meeting, where United States officials intend to discuss whether interest rates should be raised or kept near zero. While many investors anticipate that BTC will soon resume its bull run and rally above $40,000, technical analysts are sounding the alarm about a looming death cross that could send Bitcoin's price to $30,000 and below. Data from Cointelegraph Markets Pro and TradingView shows that after losing the $40,000 support level, Bitcoin …

Bitcoin (BTC) price has retreated by more than 40% after topping out near $65,000 in mid-April. But that is not enough to derail the flagship cryptocurrency's long-term bull trend, especially as global markets grapple with declining national currencies and the prospect of a commodity market crash. So believes Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, who said Wednesday that diversifying into store-of-value assets is a wise strategy against gloomy currency and commodity market outlooks. "There's little risk of the dollar dropping in value vs. similarly depreciating currencies, which means that diversification into store-of-value assets like gold and Bitcoin …

Traditional hedge funds are willing to increase their exposure in Bitcoin and other cryptocurrency markets over the next five years, a new survey has found. Intertrust Global, an international trust and corporate management company, polled the chief financial officers of 100 hedge funds globally about their intention to purchase crypto assets. About 98% of them responded that they expect their hedge funds to have invested 7.2% of their assets in cryptocurrencies by 2026. The survey found that a 7.2% investment into the cryptocurrency sector would equal about $312 billion if replicated across the sector. Meanwhile, about 17% of the polled …