Bitcoin

Several technical analysts have commented on bitcoin’s recent moves. (Photo Illustration by … [+] Chesnot/Getty Images) Getty Images Bitcoin prices have been encountering some difficulty lately, falling more than 15% between yesterday and today amid a broader market sell-off. The world’s most prominent digital currency declined to as little as $31,035.49 this morning, CoinDesk data shows. At this point, the cryptocurrency was down roughly 15.6% from yesterday’s… Source link

Topline After regulatory concerns in China crashed the market last month, cryptocurrencies plummeted again Tuesday morning after the Department of Justice said it seized $2.3 million in bitcoin as part of its investigation into a ransomware attack that shut down the nation’s largest gas pipeline, fueling concerns U.S. officials could ramp up their crypto oversight—something that’s helped spark a years-long bear market before. The market plunged more than 11% Tuesday morning. … Source link

Bitcoin was under fresh selling pressure Tuesday, dragging the world’s No. 1 crypto to lows not seen since late May. However, at least one technical analyst, says that the slump in bitcoin prices doesn’t represent a decisive breakdown of its uptrend until the asset registers weaker closes today and tomorrow. “Short-term momentum has deteriorated, but not to the degree with which we have a ‘sell’ signal (in the daily MACD),” Katie Stockton, technical analyst and… Source link

The cryptocurrency has fallen roughly 8% over the past 24 hours, according to Coindesk, and was trading near $33,200 at 4:45 a.m. ET on Tuesday. Other digital currencies, including ethereum and dogecoin, also fell around 8% or more. The value of bitcoin has tanked more than 40% over the last month during a torrent of bad news, including a move by one prominent former backer, Tesla (TSLA) CEO Elon Musk, to stop accepting the cryptocurrency as payment for cars. There’s also increasing… Source link

The Justice Department has assembled a new task force to confront ransomware after what officials say was the most costly year on record for the crippling cyberattacks. It managed to recover $2.3 million of the ransom paid by Colonial Pipeline in an attack earlier this year, the department announced Monday. Andrew Harnik/AP … Source link

Follow us @crypto for our full coverage. Bitcoin slumped to a two-week low, with some analysts pointing to the recovery of Colonial Pipeline Co.’s ransom as evidence that crypto isn’t beyond government control. The largest token tumbled almost 7% at one point on Tuesday and was around $33,100 as of 9:13 a.m. in London. The wider Bloomberg Galaxy Crypto Index fell as much as 10%. The fact that investigators “could trace the untraceable and seize it… Source link

El Salvador’s proposed embrace of bitcoin would not end dollarization in the Central American economy, top government officials said, addressing concerns raised by citizens confused about the plan. “The dollar will continue to be the legal tender in El Salvador. Operations can be done with bitcoin – obviously related to its value in dollars.” Miguel Kattán, El Salvador’s secretary of Commerce and Investment, said in remarks covered by local newspaper El Mundo on Monday.  Providing… Source link

Crypto investing pioneer and former hedge fund manager Mike Novogratz has stacked up billions of dollars by making bold bets on digital assets. He’s built up his crypto ecosystem company Galaxy Digital (BRPHF) into something akin to a crypto Berkshire Hathaway (if there were such an equivalent in crypto) through investments in promising blockchain projects and his recent record setting $1.2 billion acquisition of custody giant BitGo. And similar to the way equity investors turn to… Source link

A push by El Salvador’s president to embrace bitcoin as the country’s legal tender is not seen as having much of an impact on the $663 billion bitcoin market, even if it does inspire other countries to do the same. Investors, analysts and economists were assessing the potential price ramifications Monday after President Nayib Bukele said Saturday he will submit a bill this week to recognize bitcoin as the Central American nation’s legal tender. So far, the market isn’t giving much… Source link

Investors are parking bitcoin in places like decentralized finance (DeFi) while excitement in trading ether continues to be elevated. Bitcoin (BTC) trading around $35,679 as of 21:00 UTC (4 p.m. ET). Losing 0.25% over the previous 24 hours. Bitcoin’s 24-hour range: $35,335-$36,742 (CoinDesk 20) Ether (ETH) trading around $2,736 as of 21:00 UTC (4 p.m. ET). In the green 2% over the previous 24 hours. Ether’s 24-hour range: $2,677-$2,840 (CoinDesk 20) Remember when bitcoin was at $59,506?