Bitcoin

Bitcoin (BTC) ranged around $16,500 on Nov. 17 as markets digested the latest events surrounding exchange FTX. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView FTX CEO tells of “complete failure of corporate controls” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD seeing only mild volatility at the Wall Street open. The pair showed acclimatization to events around the FTX insolvency, the latest including revelations that Alameda Research had been immune from… Source link

The “Bitcoin-is-dead” gang is back and at it again. The fall of the FTX cryptocurrency exchange has resurrected these infamous critics that are once again blaming a robbery on the money that was stolen, and not the robber. “We need regulation! Why did the government allow this to happen?” they scream.   For instance, Chetan Bhagat, a renowned author from India, wrote a detailed “crypto” obituary, comparing the cryptocurrency sector to communism that promised decentralization but ended up… Source link

Bitcoin (BTC 1.63%) has lost 75% of its value over the last year. The crypto market may have raced too high, too fast in the fall of 2021, setting pretty much every digital coin up for a sharp correction. Raging inflation and the painful government measures designed to fight that problem have also weighed on high-risk investments this year, and Bitcoin belongs in that category. And if these high-level market concerns weren’t bad enough, crypto investors recently lost some of their faith in… Source link

Bitcoin (BTC) has flooded out of exchanges in the past week as users become wary of security and regulatory scrutiny. Data from on-chain monitoring resource Coinglass shows United States exchanges in particular seeing heavy BTC balance reductions. U.S. exchanges lead BTC exodus In the wake of the FTX scandal, efforts to draw attention to the risk involved in custodial BTC storage stepped up on social media. Users appeared to heed the warning, withdrawing over $3 billion in cryptocurrency in the… Source link

As the world’s first nation to adopt Bitcoin (BTC) as a legal tender in September 2021, El Salvador is going back to its BTC buying days after a pause for months amid bearish market conditions. El Salvador President Nayib Bukele announced on Nov.16 that the Central American nation will start purchasing BTC on a daily basis starting from Nov.17. The announcement comes nearly three months after the nation made its last BTC purchase in July 2022. We are buying one #Bitcoin every day starting… Source link

Genesis Interim CEO Derar Islim told customers on a call that Genesis is exploring solutions for the lending unit, including finding a source of fresh liquidity. He said Genesis intends to detail its plan to clients next week. Genesis Global Capital serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022, according to the company’s website. Genesis owner Digital Currency Group (DCG) is also the parent company of… Source link

Genesis Interim CEO Derar Islim told customers on a call that Genesis is exploring solutions for the lending unit, including finding a source of fresh liquidity. He said Genesis intends to detail its plan to clients next week. Genesis Global Capital serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022, according to the company’s website. Genesis owner Digital Currency Group (DCG) is also the parent company of… Source link

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Bitcoin (BTC) fell to intraday lows after the Nov. 16 Wall Street open as the FTX scandal appeared to claim another victim. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Genesis Trading liquidity “exceeded” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading around $16,400 at the time of writing. Downside had entered again for the pair amid news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity… Source link

Crypto fund Pantera Capital says that the next Bitcoin (BTC) halving event will spark a bull rally beginning in early 2024. Pantera Capital CEO Dan Morehead and other executives are telling investors that the price of Bitcoin is likely to bottom throughout November and pick up steam ahead of the next halving. A Bitcoin halving event is when miners’ block rewards are cut in half and, as a result, the supply is crunched. In the past, Bitcoin’s price has rallied before and after… Source link