Bitcoin Financial News

, often dubbed the ‘digital gold,’ is currently on a rollercoaster ride. Having recently climbed beyond the $34,000 threshold, BTC’s ascendancy led to the liquidation of over $220 million in short positions in a mere 24-hour span, a testament to its volatile nature. This surge isn’t exclusive to Bitcoin alone; the entire cryptoverse felt ripples, with liquidations across the board exceeding $400 million. Amidst this tumult, Bitcoin stands tall, trading at a commendable $34,750.   Bitcoin’s value has risen by over 13% in the last day, with the global cryptocurrency market cap seeing a 9.8% increase. André Dragosch from Deutsche Digital Assets attributes the price surge to a combination of a short squeeze and significant on-chain developments, including increased transfer volumes and large investor accumulation. However, Dragosch also warns of a potential price correction in the near term. A combination of institutional interest, potential ETF approvals, and global economic scenarios paints a complex picture of BTC’s trajectory. Let’s dive deeper.

Blockchain forensic firm Elliptic says there’s “no evidence” that Hamas is receiving a significant volume of cryptocurrency donations to fund its attacks against Israel.

By Ankur Banerjee

iFinex, the parent company of Bitfinex, has proposed to repurchase $150 million worth of its shares distributed to customers as compensation for a 2016 security breach on the Bitfinex cryptocurrency exchange, according to a Bloomberg report. The breach, which occurred in 2016, resulted in a loss of $71 million, with around 36% of Bitfinex's total user balance, entirely denominated in Bitcoin, being stolen. Due to insufficient cash reserves at the time, Bitfinex could not refund the affected customers.

Identifying assets with enduring value remains a pivotal concern for investors. Recently, Fidelity Digital Assets shed light on the distinct stature Bitcoin holds among digital assets, endorsing it as a primary consideration for investors. This narrative was further propagated by MicroStrategy's Founder and Chairman, Michael Saylor, who shared Fidelity's insights on Twitter on October 10, 2023, garnering over 300K views.

Dr. Craig S Wright, the Chief Scientist at nChain and a self-proclaimed creator of Bitcoin, elucidated his perspective on the cypherpunk movement's misinterpretation of Bitcoin through a tweet on October 12, 2023, referencing a blog post he authored on October 11, 2023.

Asset manager Hashdex recently held a meeting with the U.S. Securities and Exchange Commission to address the regulator's concerns about its application to allow the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin, a source familiar with the matter told Cointelegraph. 

A company is petitioning former Ripple chief technology officer Stefan Thomas for a hard drive containing more than 7,000 Bitcoin (BTC) that he has been unable to access for years.

Grayscale Investments, a major US digital asset management firm, has joined forces with FTSE Russell, the index division of the London Stock Exchange-owner LSE Group.

Crypto industry powerhouse Digital Currency Group (DCG) has provided a response to its latest fraud lawsuit from the New York Attorney General (NYAG) last week, alongside updated Q3 financial figures.

Bitcoin's price briefly surged past the $35,000 mark this week and some analysts think that growing small-investor participation may bode well in the coming weeks, but the rise in the cryptocurrency hasn't helped the rest of the market.

Bitcoin’s (BTC) price action is the talk of the town this week and based on the current sentiment expressed by market participants on social media, one could almost assume that the long-awaited bull market has started. 

The impact of digital asset scams has been a major talking point around policies, regulations, and developer’s direction this year with millions lost across chains to bad actors.

Bitcoin (BTC) easily soared above the $31,000 to $32,400 resistance zone on Oct. 23, which came as a suprise to many market participants. Usually, the price tends to consolidate or hesitate near stiff overhead resistance levels but that was not the case this time around.

The Bitcoin (BTC) bulls are back in the ascendency, with the world’s first and largest cryptocurrency by market capitalization recently pushing back to the north of the $35,000 once again amid gains of more than 3% in the past 24 hours.

Matrixport, a cryptocurrency trading firm founded by Bitmain co-founder Wu Jihan, has doubled down on its prediction that Bitcoin (BTC) will hit $45,000 by the end of 2023.

The price of Shiba Inu (SHIB) has dropped by 2% today, falling to $0.00000742 as the wider market slips by 1% in the past 24 hours.

The XRP price has gained by 0.5% in the past 24 hours, with its move to $0.552306 also representing a 12% increase in the past week, as the market rides a wave of Bitcoin ETF-related positivity.

Cryptocurrency firm, Galaxy Digital views the approval of a spot Bitcoin (BTC) ETF as “the most impactful catalysts” towards the growth and adoption of the top digital asset. 

An El Salvador town has grown tired of waiting for President Nayib Bukele to build Bitcoin City – and will instead build its own “Bitcoin City” project “a few kilometers away.”

The price of Litecoin (LTC) has dropped by 2% in the past 24 hours, with its fall to $68.57 erasing some of the gains it made during yesterday's market-wide rally.