Bitcoin Financial News

Bitcoin (BTC) gained about 40% in January, its best finish in the first month of the year since 2013. The sharp rally caused a change in sentiment and the futures markets which saw backwardation in November and December started trading at a healthy contango in January, according to Glassnode.

In a defensive interview CEO Cathie Wood has stood by her thesis that Bitcoin will hit $500k by 2030.

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If you ask 10 people what Bitcoin’s original purpose is, at least one person will say it’s meant to cut out the middleman, reduce the cost of transacting and empower those who might not have access to modern financial infrastructure. 

Bitcoin (BTC) preserved its active trading range into the Feb. 1 Wall Street open as markets looked to the day’s key macroeconomic data.

Total assets under management (AUM) for digital asset investment products surged a whopping 36.8% to $19.7 billion in January, its highest level since May 2022, CryptoCompare said in its latest monthly Digital Asset Management review report. According to the crypto intelligence firm, “bullish sentiment was driven by liquidated short positions and a favorable macro environment, reflected in the most recent CPI announcement, which saw Bitcoin's price reach $23,000; its highest level since August 2022”.

A nine-year-old boy's efforts show that Bitcoin (BTC) is for everyone and Bitcoin education is for all ages.

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After a period of challenging downwards price action, there are signs of life in Terra Classic (LUNC). Our analysts have identified clues that a major breakout rally could be inbound.

The US Securities and Exchange Commission (SEC) has been going after several crypto projects and companies for claiming that they are selling unregistered securities. In November last year, the SEC won a case against LBRY Credits, with the judge ruling that the LBC token was an investment contract. However, in a recent win for the LBRY community, the judge clarified that the ruling did not include secondary market sales.

Bitcoin (BTC) hovered around $23,000 on Feb. 1 after sealing its best January performance in ten years.

Bitcoin (BTC) and Ethereum (ETH) have been cruising along the market, with their prices staying above $23,000 and $1,500 respectively. This has contributed to an overall growth of the global crypto market cap which currently stands at $1.05 trillion, showing a 0.91% increase in the last 24 hours. 

Bankrupt cryptocurrency lending firm Celsius had come up with a withdrawal process for users who had their crypto in its custody when it stopped withdrawals in June 2022.

Damus, a so-called “Twitter killer” built on a decentralized network has been approved on the Apple App Store.

Bitcoin has seen a significant pullback in its price over the past few days, leaving investors wondering if now is the time to buy the dip. Bitcoin is trading within a narrow range of $22,700 to $23,850, and a breakout will determine the future price action in the market.

[content][quote]Market Story[/quote][title]Dogecoin outperforms top 10 coins, experiences significant 8.1% increase[/title][body]On Tuesday, the cryptocurrency market experienced little change with the exception of Dogecoin which saw a notable 8.1% increase.> TradingView reported that Bitcoin dipped 0.3% to $23,117 while Ether also saw a 0.3% decrease, settling at around $1,583. Binance Coin saw a small 1.1% rise, while Cardano's ADA declined by 0.7%.> Meanwhile, Polygon's MATIC experienced a 1.7% increase following a decrease the previous day.> Both Dogecoin and Shiba Inu, two memecoins with a dog theme, saw growth with Dogecoin rising by 8.1% and Shiba Inu by 0.5%.> In the stock market, Silvergate shares climbed 4.5% to around $13 by 10:00 AM, as reported by Nasdaq data.> Other crypto stocks, including Block led by Jack Dorsey, saw a 2.2% rise to trade at around $82, while MicroStrategy rose 2.5%. Coinbase also saw growth with a 1% increase.[/body][/content]

Bitcoin (BTC) had a rough year all throughout 2022.

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.

The rally in cryptocurrency markets started in early January with a spike in heavily-shorted altcoins and Ethereum (ETH) liquid staking derivative (LSD) tokens due to the upcoming network upgrade in March. Soon gains started to show across the board as buyers started to play catch up. 

This week on The Market Report, the resident experts at Cointelegraph discuss Bitcoin’s (BTC) impressive January rally and whether there are any indicators that suggest it could continue in February.

Following a challenging 2022, Gala has been on a meteoric comeback for 3 weeks as it continues to push an impressive 222% rally.