Bitcoin (BTC) is showing signs of challenging range highs as fresh macroeconomic data boosts the confidence of risk asset bulls. The cryptocurrency’s price focus has shifted above $30,500, indicating a potential upward momentum. The release of the United States Producer Price Index (PPI) numbers, which came in below expectations, has aided in lowering inflation forecasts.
South Korea is taking significant steps towards enhancing transparency in its crypto market. The Financial Services Commission (FSC) has recently announced that domestic companies involved in cryptocurrencies will be required to disclose comprehensive information about their transactions to the financial regulator. These new accounting rules are set to take effect starting January 2024. Under the
Today, July 12, onchain data reveals that 9,825 Bitcoin (BTC) worth $302 million, which were seized by the U.S. Department of Justice (DOJ) in connection to the shuttered darknet marketplace Silk Road, have been transferred to new addresses. According to the OKLink dashboard, the BTC was sent in two transactions, with one still pending at
Bitcoin (BTC) has experienced slight upward movement leading up to July 12, coinciding with a major macroeconomic event scheduled for later in the day. Analysts have been closely monitoring BTC’s price momentum as it gradually approaches the $31,000 mark. Despite starting the week with relatively low volatility and clearly defined range highs and lows, market
The recent data from Cathiesark reveals that Ark Invest Management sold 135,152 Coinbase shares for $12 million on July 11. This transaction took place at a time when Coinbase stock was experiencing a rally, reaching a one-year high of $90. This surge continued the positive performance trend that Coinbase had been displaying recently. Notably, over
The Russian government has been sending mixed messages regarding its stance on cryptocurrencies. While the Central Bank favors a China-style ban on all forms of crypto-related activity, government ministries, such as finance, trade, and energy, are expressing a desire to legalize and regulate crypto. This conflicting stance has created an impasse between the different bodies,
Bitcoin’s energy efficiency has long been a topic of concern within the cryptocurrency community. As mining activities continue to grow, so does the amount of electricity consumed, raising questions about the environmental impact of Bitcoin mining. Primarily, the energy consumption is attributed to the mining machines used by miners, which are notorious for their high
A recent article from Fortune has raised speculations about the true intentions of the billionaire twins, Cameron and Tyler Winklevoss, in their lawsuit against Barry Silbert’s Digital Currency Group (DCG). According to the article, there is a possibility that the lawsuit filed by the Winklevoss twins’ crypto exchange, Gemini, may not even reach the courtroom.
Cardano’s native token, ADA, experienced a significant setback in early June when it was categorized as a security by the United States Securities and Exchange Commission (SEC) in their lawsuits against Binance and Coinbase. This led to a sharp decline in ADA’s price, dropping by 42.5% from $0.37 to a two-year low of $0.21 within
Bitcoin has been trading within a narrow range of $29,900 to $31,160 for the past 18 days, leaving investors wondering about the absence of a clear trend. Despite experiencing a significant rally in June, which led to its highest price level in over a year, Bitcoin has struggled to maintain prices above $31,000. Additionally, both