Bitcoin

For bulls, Bitcoin’s (BTC) daily price action leaves a lot to be desired, and at the moment, there are few signs of an imminent turnaround.  Following the trend of the past six or more months, the current factors continue to place pressure on BTC price: Persistent concerns of potential stringent crypto regulation. United States Federal Reserve policy, interest rate hikes and quantitative tightening. Geopolitical concerns related to Russia, Ukraine and the weaponization of high-demand… Source link

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Bitcoin (BTC) returned to intraday resistance on Sept. 30 as analysis predicted that $20,000 could break before a new comedown. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Crunch time for $20,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $19,600 at the time of writing. The pair had seen a bout of more volatile behavior the day prior, briefly losing $19,000 before bid support took the market higher. The day looked to be an important one for… Source link

One hundred and eleven days have passed since Bitcoin (BTC) posted a close above $25,000 and this led some investors to feel less sure that the asset had found a confirmed bottom. At the moment, global financial markets remain uneasy due to the increased tension in Ukraine after this week’s Nord Stream gas pipeline incident.  The Bank of England’s emergency intervention in government bond markets on Sept. 28 also shed some light on how extremely fragile fund managers and financial… Source link

Bitcoin’s global electricity usage Using network hash rate data from January 2016 through December 2021 and data on mining equipment power consumption and efficiency5,30, Fig. 1 presents global electricity usage of mining BTC and prices per coin. On the basis of these estimates, in 2020 BTC mining used 75.4 TWh yr−1 of electricity, which is more energy than used by Austria (69.9 TWh yr−1 in 2020) or Portugal (48.4 TWh yr−1 in 2020)31. There is a general upward time trend in BTC… Source link

The bitcoin-British pound (BTC/GBP) pair listed on major cryptocurrency exchanges, including Bitstamp and Bitfinex, is more active than ever. Analysts, however, are divided on whether the surge stems from investors switching to the largest cryptocurrency to protect against the sterling slide or from traders looking to profit from the volatility. Source link

Bitcoin (BTC) traders lay in wait for fresh volatility on Sept. 29 as BTC/USD cooled near $19,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Volatility absent a day before the monthly close Data from Cointelegraph Markets Pro and TradingView charted a calm overnight phase for the largest cryptocurrency, which hit intraday highs above $19,600 the day prior. Those 6% gains were a welcome relief after heavy losses earlier in the week, but it no clear direction, market… Source link

Three weeks ago, before the U.S. central bank raised interest rates a hawkish 75 basis points, before bond yields rose to 15-year highs and the British pound tanked, before the Dow Jones Industrial Average sank into bear market territory, Russia escalated its unprovoked invasion of Ukraine and the prospects of a severe global recession increased exponentially, the largest cryptocurrency by market capitalization was trading above $19,000. Source link

“If the stock market rally is able to overcome hard landing fears, that should provide a nice backdrop for cryptos,” Edward Moya, senior market analyst at OANDA, wrote in a Wednesday note. “This broad risk-on rally doesn’t seem like it has legs to stand on, but this bounce could last a little longer.” Source link

LONDON, Sept 28 (Reuters) – Trading volumes between the British pound and the cryptocurrency bitcoin spiked to a record high after sterling dropped on Monday, according to market data firm Kaiko Research, in what analysts said was likely a rush by investors to dump their sterling for the digital asset or profit from arbitrage. The pound fell to a record low against the dollar on Monday, having plunged the previous Friday after the UK government announced unfunded tax cuts . read more The… Source link