Bitcoin

Tesla has revealed that it is still holding bitcoin worth $222 million in market value after selling 75% of its crypto holdings. The company recorded realized gains of $64 million on its recent bitcoin conversion into fiat currency. Tesla Realizes Gains of $64 Million From Bitcoin Sale Tesla Inc. filed its second-quarter report with the U.S. Securities and Exchange Commission (SEC) Monday. The company explained that it converted about 75% of its bitcoin holdings into fiat currency, as… Source link

However, it should be noted that in July, daily trading volume for BTC has surpassed its average 20-period volume on just nine days out of 25. In our view, there does not appear to be significant conviction among long or short traders at the moment. We expect that BTC prices will continue to be range-bound in the short term, with short-term support at $20,500 and resistance at approximately $23K. Source link

Bitcoin (BTC) could be in the process of bottoming after gaining 25%, based on several market signals.  BTC’s price has rallied roughly 25% after dropping to around $17,500 on June 18. The upside retrace came after a 75% correction when measured from its November 2021 high of $69,000. BTC/USD daily price chart. Source: TradingView The recovery seems modest, however, and carries bearish continuation risks due to prevailing macroeconomic headwinds (rate hike, inflation, etc.) and the collapse of… Source link

Bitcoin [BTC] mining emerged as a controversial yet profitable industry. The mining rewards that came with the process lured an array of individuals and entities into the market. However, the immense backlash toward the mining community has driven away several members of the industry. Chinese miners however remain unfazed by the ban on crypto and continued underground mining. The hype around mining is real. But have you ever wondered how long it takes to mine one Bitcoin? Mining… Source link

Bitcoin fell below $22,000 to start the new trading week, as sentiment in crypto markets seems to have turned bearish. The world’s largest token saw recent price declines extended on Monday, with ethereum also experiencing similar downwards momentum. The global market cap is down over 3% as of writing. Bitcoin Bitcoin (BTC) prices were once again in the red during today’s session, as prices fell below $22,000 to start the week. The world’s largest cryptocurrency fell to an… Source link

“With the VIX at 23, it is currently at its lowest level this year, heading into an FOMC (Federal Open Market Committee) meeting, which I find bizarre,” Michael Kramer, founder of Mott Capital Management, wrote in a market update published Sunday, adding that the positioning makes assets vulnerable to a potential Fed shock. Source link

A new Bitcoin whale emerged in the crypto market by amassing a large fortune of $3 billion BTCs. The unidentified whale first came to light on July 15, 2022, and mostly remained on the sidelines for three days. However, the mysterious wallet picked up its first lot by purchasing 15,499 Bitcoins worth $345.9 million on July 19th. The whale ramped up the purchases by adding another bag of 45,499 Bitcoin worth $1.06 billion to its wallet on July 20th. On July 21, the whale received 71,879 BTC… Source link

Bitcoin traded in the green last week, sending signals of a market recovery. Even JP Morgan, which previously predicted that the bear market was here to stay, reported that the downturn might end. However, Bitcoin and the cryptocurrency market generally have their way of defying sentiments by moving in the opposite direction when least expected. BTC is being rejected at $23,000, sliding back to $21,000, and is yet to break out in the indices. Crypto analyst Kevin Svenson revealed that the… Source link

Bitcoin (BTC) enters a new week with a question mark over the fate of the market ahead of another key United States monetary policy decision. After sealing a successful weekly close — its highest since mid-June — BTC/USD is much more cautious as the Federal Reserve prepares to hike benchmark interest rates to fight inflation. While many hoped that the pair could exit its recent trading range and continue higher, the weight of the Fed is clearly visible as the week gets underway, adding… Source link

Bitcoin started a fresh decline from the $23,000 resistance against the US Dollar. BTC is declining and remains at a risk of a sharp decline below $21,800. Bitcoin started a downside correction and traded below the $22,200 level. The price is now trading below the $22,500 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $22,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might decline heavily if… Source link