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Bitcoin’s rally this year has caught a lot of attention. Yet the coin has seemingly stopped its advance at $28,000, a key trading point around which it’s been meandering in recent days. The largest cryptocurrency has hit a proverbial wall at that level, moving slightly above or below it in what analysts are calling range-bound trading. For the last three weeks of trading, Bitcoin has been trading within 15% of a key trendline — its average price over the past 30 days. Bitcoin was little changed at around $28,280 as of 4:25 p.m. in New York. “It’s chopping around that level right now,” Alex Coffey, TD Ameritrade senior trading strategist, said in an interview. “It’s sort of just drifting.” Bitcoin, in the wake of the fallout of a handful of US lenders last month, staged a rally that brought it from around $20,000 to $28,000 in a matter of days. As reasons for its surge, investors resurfaced longtime narratives — that the coin is a hedge against inflation and can be a safe haven amid turmoil at traditional banking institutions. The uptick — along with a broader year-to-date surge — helped it score the top spot among major assets in terms of performance in the first quarter.

Bitcoin reaching levels not seen in about nine months. The largest digital asset topped $28,000 for the first time since June 2022, trading for as much as $28,258 on Sunday. Since the start of the year, Bitcoin’s price has risen almost 70%. Other digital assets rallied as well — with Ethereum up about 17% since the start of last week and so-called altcoins like Solana and Cardano advancing, too. Traders waded high levels of uncertainty last week in markets. US two-year yields fluctuated wildly, and the Cboe Volatility Index, the so-called fear gauge also known as the VIX, spiked above 30. But Bitcoin kept steadfast — and straight up. “Bitcoin is correlated with liquidity conditions and real rates. Real rates have declined, liquidity conditions have expanded, and it looks as if we’re entering a new regime,” said Ilan Solot, co-head of digital assets at Marex.

Bitcoin, the largest token, rose as much as 4.9% and was trading at about $25,610 as of 10:45 a.m. in Singapore on Friday. Second-ranked Ether added roughly 3%, while smaller tokens like Solana and Polkadot also jumped. “Any sign of interest-rate cuts should push funds to riskier assets, which is likely to be enough to bring more institutional funds into the crypto market, regardless of whether macro traders understand or believe in the longer-term Bitcoin investment thesis,” wrote Noelle Acheson, author of the “Crypto Is Macro Now” newsletter. Bitcoin has climbed about 55% so far this year and is in touching distance of the highest level since June 2022. But the token remains a long way off its record of almost $69,000 from November 2021.

Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday. The moves came as authorities took possession of New York-based Signature Bank, the second bank failure in a matter of days.Stablecoin USD Coin (USDC), which had lost its 1:1 dollar peg and hit an all-time low on Saturday on concerns over the exposures of Circle, the firm behind USDC, to Silicon Valley Bank, recovered. It was at $0.9917, closer to par and up from last week's lows around $0.88.

Bitcoin is having its worst week since November as an equity selloff, fear over higher interest rates and an escalating US regulatory crackdown on crypto combine to hurt investor sentiment. The largest token fell as much 2.1% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Ether added to losses and smaller coins like Solana and Cardano struggled for traction. A rout in US bank stocks on Thursday stoked concerns that rising borrowing costs are creating a treacherous economic and investing outlook. In New York, the state regulator sued KuCoin, a popular crypto exchange, and in the process claimed in court that second-largest token Ether is a security. The US Securities & Exchange Commission also contends that many cryptocoins are securities, a designation that would potentially make them harder to trade. “The selloff in cryptocurrencies appears to be largely equity-market led,” said John Toro, head of trading at digital-asset exchange Independent Reserve. He added that the wind-down of crypto-friendly bank Silvergate Capital Corp. and President Joe Biden’s proposal for a series of tax increases on investors and top-earning Americans contributed to the downdraft.

bitcoin is starting to look a little old-fashioned. Hooked on high growth, some are turning away from the original cryptocurrency — designed as an alternative to regular cash — in favor of its descendants created as native tokens of blockchain platforms that host smart contracts and apps.MarketVector's Smart Contract Leaders Index, which tracks major tokens of this kind — including ether, dot and solana — is up 36% in 2023, outpacing even bitcoin's 33% rise. Solana's token is up 76% this year. Bundeep Rangar, CEO of crypto-focused asset manager Fineqia, said he expected the biggest crypto returns to come from smart contract tokens on platforms that support decentralized finance (DeFi) apps.

Bitcoin fell the most in about a week as hawkish rhetoric from Federal Reserve officials and further signs of an aggressive US regulatory clampdown spread caution. The largest digital token slid as much as 4.2% and was trading below $24,000 as of 7:55 a.m.

Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing. The largest token is up 40% since the turn of the year, a first-month gain bettered only twice before when crypto was in its infancy. Smaller coins like Solana, Axie Infinity and Decentraland have doubled in value, part of a $280 billion January climb in digital assets overall, CoinGecko figures show. Bitcoin retreated 2.5% to $23,200 as of 11:37 a.m. in London on Monday amid broad declines in risk assets. The rebound from last year's deep rout is part of a wider revival in risk appetite on expectations that central banks will slow interest-rate hikes and perhaps even cut borrowing costs later this year as high inflation moderates. The rally in virtual coins has weathered ongoing fallout from the collapse of Sam Bankman-Fried's FTX exchange — such as the bankruptcy of crypto lender Genesis Global Holdco LLC and a spate of layoffs across the industry.

Bitcoin has resumed one of its old habits: it’s back to posting big moves on weekends, a phenomenon that’s become an intriguing characteristic of the cryptocurrency market. Take last Sunday, when it gained 3.4%, a similar amount to what it notched the Saturday on the weekend prior. And the Saturday before that, the coin advanced 5.5%. That Bitcoin posts large moves is nothing new. But the token, like all other cryptocurrencies, trades around the clock, every day of the week, counter to most other assets, which tend to trade Monday through Friday on regulated exchanges. And it’s been seen in crypto markets in the past, with Bitcoin shooting higher — or posting big down days — while other assets are taking a rest from work. The most compelling theory on the strong weekend moves might be that liquidity is thinner, meaning that price swings on large orders can be more pronounced, says Noelle Acheson, author of the “Crypto Is Macro Now” newsletter. Liquidity has been thinner for Bitcoin recently, with traders and investors staying on the sidelines and hodlers hodling, she says. “Since the beginning of the year, volatility has picked up — still not at ‘normal’ levels, but getting there,” Acheson said. “This should herald the return of the weekend phenomenon, with lower weekend liquidity leading to stronger moves as traders and investors tentatively come back into the market.”

The collapse of Sam Bankman-Fried's FTX exchange hammered a long nail into the market.

Bitcoin miners have been forced to tap into their cryptocurrency stashes as a plunge in prices, rising energy costs and increased competition bite into profitability. The number of coins miners are sending to crypto exchanges has been steadily climbing since June 7, researchers at MacroHive noted, in a sign that «miners have been increasingly liquidating their coins on exchanges.» Several publicly listed bitcoin miners collectively sold more than 100% of their entire output in May as the value of bitcoin tumbled 45%, an analysis by Arcane Research https://tmsnrt.rs/3nhYdHA found.

cryptocurrency markets on edge. MictroStrategy, an aggressive investor in bitcoin, said it borrowed $205 million from crypto bank Silvergate Capital in March, with the three-year loan mostly secured against some 19,466 bitcoins. If the bitcoin price dropped below about $21,000 that would trigger a «margin call» or a demand for extra capital, MicroStrategy President Phong Le said in webcast in May.

Bitcoin tumbles to an 18-month low as US inflation impact spreads

bitcoin blockchain, the immutable public ledger that has recorded all transactions since the cryptocurrency’s launch in January 2009. Bitcoin represents a techno-utopian dream. Satoshi Nakamoto, its pseudonymous inventor, proposed that the world run not on centralized financial institutions but on an egalitarian, math-based electronic money system distributed through a computer network. And the system would be “trustless” — that is, it would not rely on a trusted party, such as a bank or government, to arbitrate transactions. Rather, as Satoshi Nakamoto wrote in a 2008 white paper, the system would be anchored in “cryptographic proof instead of trust.” Or, as T-shirts proclaim: “In Code We Trust.” The practicalities have proved complicated. Price turbulence is enough to induce the bitcoin bends, and the system is environmentally destructive, since the computational network uses exorbitant amounts of electricity.

Bitcoin might be registering tepid moves as of late but that doesn't mean investors have become less anxious about the largest cryptocurrency's prospect for further declines. The put-to-call ratio on the coin hit a 12-month high at 0.72, meaning that many traders are loading up on hedges in the event it embarks on another leg lower and its losses deepen. The ratio hit a high of 0.96 April last year before prices plunged roughly 50% the following month, according to option Skew data compiled by Babel Finance. It «signals cynicism in the markets with rising bearish sentiment,» said Josh Olszewicz, head of research at Valkyrie Investments. «Given the macro situation globally, and the near uniform risk-off trade currently dominating most asset classes, traders have followed suit with their Bitcoin strategies.»

Bitcoin fell to its lowest in 16 months on Thursday, leading a rush out of risk assets such as tech stocks, while the collapse of TerraUSD, a so-called stablecoin, underscored the strain on cryptocurrency markets. The world's largest cryptocurrency dropped as low as $26,970, to stand at its lowest since Dec. 28, 2020. In the last eight sessions, it has lost a third of its value, or $13,000. Bitcoin surged in 2021 to reach its all-time high of $69,000 that November.

Bitcoin breached the $30,000 mark in the last 24 hours. It is the lowest level of the largest digital token since July 2021. It hit an intraday low of $29,944.80. According to data from Coinmarketcap, Bitcoin has tumbled about 25 per cent in the last six days. The crypto behemoth has tanked about 60 per cent from its peak scaled in November 2021. Market experts said rising inflationary worries, aggressive monetary tightening, looming recession fears, war crisis and geopolitical worries are denting sentiments for riskier assets such as cryptos.

Cryptoverse: Buying the dip? Bitcoin's a rates rookie

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation. The world's largest cryptocurrency by market value fell as low as $29,764 in Tuesday trade, before recovering above $30,000, extending a recent collapse in price as investors desert assets viewed as risky. Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000.

Bitcoin crossed a major milestone in September 2021, when it became a legal tender for El Salvador. Although this move was condemned by financial regulators, the country’s GDP grew. This was a major development for Bitcoin as many countries considered El Salvador as an experiment and it seems like the Central African Republic has seen enough to follow the trend setter. It might be a matter of time until the next country makes the announcement.Flipkart jumps into Web 3Flipkart surprisingly tweeted on the 28th of April that it is now exploring Web 3.0. The timing of the announcement is interesting as it comes during an extreme uncertainty in the Indian crypto ecosystem. The second reason why it is surprising is that last April they mentioned that they would accept Bitcoin as a method of payment on their platform on April Fool's Day.

digital assets from being used to pay for goods and services from April 1, the market regulator said on Wednesday. The move was in line with earlier discussions between the Securities and Exchange Commission (SEC) and the Bank of Thailand (BOT) on a need to regulate such activity by digital asset business operators as it could impact the country's financial stability and overall economy, the SEC said in a statement. Digital asset business operators that provide such services must comply with the new rules within 30 days from the effective date, it said.