Features Crypto News by Thebittimes.Com

Coinbase stock surges 9% to $280.79. Bitcoin has soared by 8.60% in 24 hours to trade at $70,555.18 at press time. Decreasing Bitcoin supply and bullish projections, like $150k by 2024, fuel investor optimism. Coinbase Global Inc (NASDAQ: COIN) experienced a significant surge in its stock price, climbing by over 9% to reach $280.79 per share. This rally in Coinbase shares correlates with Bitcoin’s resurgence, which briefly surpassed the $70,000 mark, after a substantial gain of 8.60% over the past 24 hours. The uptick in Coinbase ’s stock price demonstrates investors’ confidence in the cryptocurrency exchange platform, particularly as Bitcoin, the leading digital asset, continues to exhibit resilience and upward momentum. The positive sentiment also reflects broader optimism in the cryptocurrency sector and its potential for further growth and adoption. Bitcoin price soars above $70k again  March has been such a great month for B...

BitPay expands crypto support, adding UNI, BNB, LINK, CRO, VERSE, BAT to its roster. CEO Stephen Pair underscores commitment to user-friendly crypto payments. Users to enjoy versatile options, from luxury purchases to practical expenses. BitPay, initially established as a Bitcoin-focused payment startup, has broadened its horizon beyond Bitcoin (BTC) by adding support for “dozens” of additional cryptocurrencies. Notable tokens like Uniswap (UNI), Binance Coin (BNB), Chainlink (LINK), Cronos (CRO), VERSE, and Basic Attention Token (BAT) are now included in the platform’s extensive list of supported digital assets. CEO Stephen Pair emphasized the company’s dedication to simplifying crypto payments, aiming to make them accessible to a broader audience. This strategic move aligns with the evolving demands of the digital currency market, showcasing BitPay’s commitment to user diversity and the need for greater accessibility in the cry...

A Glassnode on-chain indicator of Bitcoin HODLer conviction called “Reserve Risk” recently fell to its lowest-ever level, indicating that HODLer conviction is at record highs. In wake of the collapse of FTX, formerly one of the largest centralized cryptocurrency exchanges in the world, the Bitcoin Reserve Risk indicator fell to a new record low of 0.000729. It has since recovered to around to just above 0.0010. According to Glassnode, Reserve Risk is “used to assess the confidence of long-term holders relative to the price of the native coin at any given point in time”. Reserve Risk is “a long-term cyclical oscillator that models the ratio between the current price (incentive to sell) and the conviction of long-term investors (opportunity cost of not selling)”. The conviction of long-term investors is encapsulated in Glassnode’s “HODL Bank” index, which represents an accumulation of unspent “opportunity cost...

Scott Minerd, CIO of Guggenheim Partners. Source: A video screenshot, Youtube/ Bloomberg Markets and Finance The major investment firm Guggenheim Partners says the crypto industry will see more companies collapse as central banks decisively end the era of “easy money.” Speaking with Bloomberg ahead of the Federal Reserve’s interest rate announcement on Wednesday, Guggenheim Partners Chief Investment Officer (CIO) Scott Minerd called the crypto industry a “crazy” thing that came out of the period of easy money. But now that the period has ended, the industry will face an uphill battle, he said. “There’s another shoe to drop - I can’t tell you where it is. The reason is this is just like any number of periods where we had easy money and a lot of speculation; the weakest players fall first. Crypto was obviously something that is crazy,” Minerd said in the interview. This week’s comments from Minerd follows comm...

Bitcoin price prediction has turned bullish, with BTC surging more than 5% to the $18,000 level following the release of lower-than-expected US CPI figures. Inflation in the United States slowed to 0.1% from 0.4% in October, a positive development for the Federal Reserve's efforts to rein in the economy's runaway cost of living.  The report boosted cryptocurrency prices in hopes that the Federal Reserve will slow the pace of interest rate hikes in light of the less-than-scary consumer price increases it revealed.  The US analysts had predicted an annual increase of 7.3% for the CPI, but Tuesday's report from the Labor Department showed an increase of 7.1%. Given the weaker-than-expected CPI figures, Bitcoin has risen on speculation that the Fed may reconsider raising interest rates tomorrow.   Retailers are Buying Bitcoin The number of users holding between 10 and 1000 Bitcoin has recently increased significantly. BTC also experienced significant volat...

Bitcoin, the leading cryptocurrency, finally found support near the $16,900 level on December 7, which is being extended by an upward trend line. The second-most valuable cryptocurrency, Ethereum, is also supported above $1,240, a level that is extended by a double-bottom pattern visible in the 2-hour timeframe. Major cryptocurrencies traded in a mixed bag early on December 7, with the global crypto market capitalization falling 0.02% to $855.67 billion on the previous day.  We will go over the technical outlook in detail later in this article, but for now, let's look at the fundamentals of the market. Let's take a look at the top 24-hour altcoin gainers and losers. Top Altcoin Gainers and Losers Trust Wallet Token (TWT), MultiversX (EGLD), and Holo (HOT) are three of the top 100 coins that have gained value in the last 24 hours. TWT's price has risen nearly 5% to $2.40; EGLD's price has risen more than 4.5% to $45.28; HOT's price has risen nearl...

Bitcoin is maintaining a bullish outlook during the UK session, as it has once again crossed above the $17,000 mark. Ulrich Bindseil, director general of the European Central Bank (ECB), and analyst Jürgen Schaff published a blog article titled "Bitcoin's Last Stand" on November 30. The European Central Bank (ECB) took a hard stance against Bitcoin.  According to Ulrich Bindseil, the ECB's director general of market infrastructure and payments, Bitcoin was created about 15 years ago to supplement or replace the current monetary system. Bitcoin, according to Bindseil and Schaff, was neither an appropriate investment nor a payment method. They claim that Bitcoin's market capitalization, which surpassed $1 trillion last year, is based on "pure speculation." Furthermore, central bank officials stated that bitcoin has "repeatedly benefited from waves of new investors" as well as "manipulations by individual exchanges or stab...

Source: a video screenshot, Youtube, Bloomberg Markets and Finance The veteran investor Mark Mobius has said bitcoin (BTC) could fall to the $10,000 level, but he is still amazed by how well bitcoin prices “have held up” in the currently bearish environment. Speaking in an interview with Bloomberg on Monday this week, Mobius, who is known as one of the world’s leading experts on emerging market investments, made it clear that although he is impressed by bitcoin’s performance, he wouldn’t invest in it himself. And that goes both for his own and his clients’ money, he said. “It’s too dangerous,” Mobius said. The legendary investor added that he believes bitcoin and crypto more broadly “is here to stay” given how many investors still have faith in it. “It’s amazing how Bitcoin prices have held up” despite the collapse of crypto exchange FTX, he said. Since FTX filed for bankruptcy on Nov...

On November 25, Bitcoin, the leading cryptocurrency, failed to break above the $16,800 level and began to fall toward the 38.2% Fibonacci retracement level. Similarly, Ethereum, the second most valuable cryptocurrency, has followed Bitcoin's lead and is currently trading bearishly toward $1,160. The reason for the market's risk-off sentiment could be related to recent Hodlnaut updates. According to Bloomberg news, the Commercial Affairs Department, the Singapore police's white-collar crime unit, is investigating Hodlnaut, a Singapore-based crypto lender that is currently under interim judicial management. Crypto Market Cap Update Major cryptocurrencies were trading unevenly early on November 25th, as the global crypto market cap fell 1% to $828.27 billion on the previous day. In contrast, the total crypto market volume fell 47% in the last 24 hours to $48.87 billion. The overall volume in DeFi was $3.21 billion, accounting for 6% of the total 24-hour vol...

Elizabeth Warren. Source: a video screenshot, Bloomberg Politics / YouTube Three US senators asked the major financial services firm Fidelity Investments to reconsider exposing workplace retirement plans to bitcoin (BTC). Democratic senators Richard Durbin, Elizabeth Warren, and Tina Smith penned a letter to "strongly urge" the company's CEO Abigail Johnson to reconsider a decision to allow 401(k) plan sponsors to expose participants to bitcoin. 401(k) plans are employer-sponsored defined-contribution pension accounts, and Fidelity Investments is the United States’ biggest provider of these pension plans. The trio argued that, since their previous letter, sent in July this year, "The digital asset industry has only grown more volatile, tumultuous, and chaotic—all Features of an asset class no plan sponsor or person saving for retirement should want to go anywhere near." The senators used the fall of the crypto exchange FTX as an event that...

Bitcoin (BTC) was trading near a recent price floor as the weekend began on a bearish note. Bitcoin is trading slightly lower on Saturday, below the 23.6% Fibonacci retracement level, with resistance at $17,250. Stock-to-Flow Sets a New Low An already negative trend has been reinforced by the continuous drop in BTC's price in the wake of the FTX controversy. This affects not only miners but also some of Bitcoin's most well-known metrics, and it has repercussions for many other essential parts of the Bitcoin network. One of these is stock-to-flow (S2F), whose price predictions are under greater scrutiny and criticism. The model, which used block subsidy halving occurrences as a central ingredient in plotting exponential price growth through the years, was very popular until Bitcoin's last all-time high in November 2021. While S2F is not "up only," it does allow for large price swings; yet, even with those factors taken into consideration, curren...

Bitcoin is mostly un changed on November 16 as it continues to consolidate below the 23.6% Fibonacci retracement level of $17,200, which is now acting as resistance. Ethereum, the second-most valuable cryptocurrency, is also trading sideways, with a price range of $1,200 to $1,285. Major cryptocurrencies were trading in the green early on November 16, as the global crypto market cap gained over 0.50% on the previous day to $847 billion. In the last 24 hours, the crypto market volume has increased by 25% to $62.50 billion. DeFi's total volume is currently $3.86 billion, accounting for over 6% of the overall crypto market 24-hour volume. The overall volume of all stablecoins is now $58 billion, accounting for 93% of the total 24-hour volume of the crypto market. Let's take a look at the top altcoin gainers and losers over the last 24 hours. Top Altcoin Gainers and Losers Chiliz (CHZ), Stacks (STX), and Algorand (ALGO) are three of the top 100 coins that have ...