Bitcoin BTC$65,690.17 has a unique pattern, and it has held across every major bullish cycle since the cryptocurrency began trading near zero 16 years ago. This pattern suggests that prices could crash to at least $48,000. The pattern works like this. Draw Fibonacci retracements from near zero – BTC began trading at $0.003 in February […]
For Elon Musk’s company, it’s a rounding error against a valuation of over $1.8 trillion: small enough that the stock will never trade on it, yet large enough to normalize the asset in a way no dedicated vehicle can. For years, onchain analysts estimated SpaceX held about 8,300 bitcoin. The S-1 then revealed the real […]
The cryptocurrency market reached its definitive bottom for the currency cycle, Standard Chartered Analyst Geoffrey Kendrick said in a note on Friday. The cycle low is now locked in at $59,000 for bitcoin, a 53% drop from its Oct. 6 all-time high of $126,000, according to Kendrick. “Winter is over. Welcome back to crypto Spring, […]
The months of waiting have ended, and SpaceX is set to begin trading on Nasdaq today after investors pumped $75 billion into the largest IPO in history. What happens next could ripple across financial markets, including crypto. One theory making the rounds is that recent outflows of over $5 billion from bitcoin BTC$63,553.89 ETFs, which […]
Bitcoin layer-2 network Botanix is being wound down a year after its mainnet went live. The project cited market conditions and broader indifference within the cryptocurrency industry towards establishing greater utility on the Bitcoin network, in a post on X on Tuesday. “It did not work,” Botanix summed up. “At least not in this market […]
Crypto investors endured one of their toughest week in years as a wave of selling wiped out hundreds of billions of dollars from digital asset markets. Bitcoin BTC$60,794.61 fell 17.3% this week while ether (ETH) dropped 22%, putting both assets on track for their largest weekly declines since November 2022, when the collapse of Sam […]
Some online chatter seems to speculate that retail investors may be selling crypto to chase the biggest IPO ever. The Elon Musk-owned rockets, satellite and AI company SpaceX is selling up to 30% of its record $75 billion offering straight to retail investors through Robinhood, Fidelity and Charles Schwab, more than three times the slice […]
Hardcore bitcoin purists haven’t lost faith in the world’s largest digital currency, despite it losing nearly 17% of its value, marking the worst weekly performance since July 2024 and wiping out about $200 billion in market cap in the last seven days. The prominent bitcoin advocates or maximalists (short for maxis) — a group that […]
SpaceX is planning to set the price of its initial public offering at $135 per share in a deal that would raise a record $75 billion and value the company at $1.75 trillion, the company said in a filing with the U.S. Securities and Exchange Commission. The aerospace company plans to sell 555.6 million shares […]
Bitcoin BTC$69,395.02 slipped below $70,000 for the first time in two months, leaving cryptocurrency markets vulnerable ahead of a week of important U.S. economic data that could determine the direction of the next move for risk assets. The largest cryptocurrency has lost more than 4.45% in the past 24 hours, and was recently trading near […]
The S&P 500’s longest weekly winning streak since 2023 and Brent crude settling near $92 on U.S.-Iran ceasefire hopes have failed to pull bitcoin BTC$73,466.17 and ether (ETH) higher, with the two largest cryptocurrencies finishing the week down nearly 3% as cooling spot bitcoin ETF inflows reinforced the pullback. The S&P 500 posted its ninth […]
U.S. spot bitcoin ETFs have now recorded nine consecutive trading days of net outflows, marking the longest withdrawal streak since the products listed in January 2024. SoSoValue data Over the nine-session run, investors pulled roughly $2.8 billion from the funds, surpassing any previous period of sustained selling pressure. U.S. spot bitcoin ETFs have shed approximately […]