207,000 Bitcoins Have Exited Exchanges From Late July Till Present
Despite the market’s current bearish trend, Bitcoin balances on leading exchanges continue to be a source of bullish expectations. According to Glassnode’s latest on-chain analysis, there have been large outflows of Bitcoin from the market, with the exception of a few exchanges. The Bitcoin exchange balances are edging closer to relative equilibrium. The market appeared to be […]
Bitcoin (BTC) Drops Below $40k Ahead Of Red-Hot Inflation In The United States
Bitcoin (BTC) paused its recent climb, sliding 5% to $39,600, as traders remained cautious ahead of U.S. inflation data on Thursday, which is expected to reveal a massive spike in consumer prices through March. The token was also adopted by the majority of popular altcoins. Consumer prices in the United States rose 7.9% last month, […]
Janet Yellen Applauds Joe Biden’s Leaked Executive Order for Getting the Crypto Market Moving
Joe Biden’s executive order on cryptocurrency has been leaked just a day before it is set to be signed on March 9th. In reality, crypto aficionados have obtained access to the remark from Treasury Secretary Janet Yellen. According to the information provided, Yellen hails the crypto executive order as “historic” and one that achieves a balance between responsible innovation and consumer safety. In terms of specifics, Yellen says: President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses. It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats […]
Bitcoin (BTC) reclaims $41,000, with Terra’s LUNA leading the altcoin rally
Today, the larger cryptocurrency market is up 5%. Bitcoin (BTC) has rebounded 7% to $41,500 levels, which is a surprising move. Following a period of high volatility in the market, the market has recently rebounded. The anticipated executive order from the Biden administration appears to be getting a thumbs up from the market. Given the current geopolitical circumstances resulting from the ongoing Russia-Ukraine military crisis, Bitcoin and the crypto market as a whole can play a significant role. Commodity prices have been rising recently, with gold taking center stage. Risk assets, such as Bitcoin and stock, have, on the other hand, experienced significant losses. However, according to Santiment, an on-chain data provider, crypto debates are picking more steam. DBS Holdings Group Ltd. Chief Executive Officer Piyush Gupta stated in his recent report on March 9 that private cryptocurrencies such as Bitcoin will continue to emerge as a substantial store of wealth. He continued, “ Regulators and politicians “will be loath to give up control of monetary policy and economic management tools, and will therefore be very circumspect about letting private money grow. Having said this, I do think that private money (crypto) will continue to grow as a meaningful store of value, […]
Bitcoin remains around $38,000 while Asian stocks drop
Even as global markets in Asia and Europe fell substantially on the threat of Western measures to punish Russian oil, Bitcoin halted recent losses on Monday, holding about $38,000. On the potential of a Russian blacklist, oil prices soared to their greatest level since the 2008 financial crisis, raising fears of another inflation spike. The […]