Bitcoin Financial News

Bitcoin and other crypto tokens extended their losses on Monday. Crypto assets continue to remain under pressure over the global macroeconomic environment. Barring the USD Coin, XRP and Polkadot, all top crypto tokens were trading in the red on Monday. Solana and Shiba Inu plunged 3 per cent each. Cardano, Polkadot, Polygon and Avalanche shed 2 per cent each. The global cryptocurrency market cap was trading marginally lower at $926.12 billion, dropping about a per cent in the last 24 hours. However, the total trading volume jumped almost 3 per cent, close to $54.33 billion.Global UpdatesBitcoin miner Iris Energy signed a deal to sell up to $100 million in equity to investment bank B Riley over the next two years, marking the bank's second big investment in the industry that is facing serious market headwinds.

The price of bitcoin has hit $20,270 today, marking a 7.5% rise over the cryptocurrency's 24-hour-low of $18,858. Surprisingly, the jump comes amid continued negative sentiment in global markets, with the Dow Jones entering a technical bear market following a 1.1% decline yesterday, which completed a 20% fall compared to peaks witnessed in January.

Bitcoin (BTC) delivered long-anticipated volatility on Sep. 27 as a squeeze higher resulted in a push beyond $20,000.

The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data.

Bitcoin, dropped by over 4 per cent during the week while Ether shed over 8 per cent.XRP witnessed a mega rally due to the positive news around the ripple lawsuit and jumped by 30 per cent during the week. The third consecutive rate hike announced by the US Federal Reserve will have a significant impact on the crypto market in the coming weeks. Here are some important crypto developments of the week:Iran’s tryst with CBDCIran’s central bank has started CBDC trials to turn banknotes into programmable currency. The crypto rial will be a digital version of the country’s fiat currency, which could be a game changer for the country’s digital economy.

To curb the inflationary pressure, central banks are raising interest rates, affecting the returns on many asset classes globally. Several assets are undergoing market volatility, including the S&P 500 Index, which recently fell into bear territory as it dropped by over 20% from its recent high. Bonds have suffered, too, and with the looming signs of global recession, crypto markets have also witnessed a downfall. Investors are worried across all asset classes as ROIs have significantly dropped, but the impact is higher on crypto due to the volatile nature of the market. Investors’ confidence has taken a back seat as Bitcoin’s price has plummeted substantially since the beginning of the year, and investors are worried about their future returns. However, it should be noted that such high volatility is not foreign to this asset class, as similar cycles of bull and bear in the market have been witnessed historically. Still, crypto has eventually emerged to outperform any other asset class.

Bitcoin broke above $20,000 as the dollar eased after soaring to fresh heights

On 26 September, as per Glassnode, a crypto analytics company, the Coin Days Destroyed(CCD) metric of BTC was at an all-time low.

Michael J. Burry, the financial wizard who was portrayed in the movie "The Big Short", is known for predicting crises. For instance, his investment fund made billions from the 2008 housing crash, and Burry liquidated almost all his entire portfolio during the 2Q of 2022.

The United Kingdom is in focus following the British pound’s fall to a new all-time low against the United States dollar. The sell-off was triggered by the aggressive tax cuts announced by Prime Minister Liz Truss’s government. The 10-year gilt yields have soared by 131 basis points in September, on track for its biggest monthly increase since 1957, according to Reuters.

On Sept. 26 the British Pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increase to curb the impact of a possible economic recession. The volatility simply reflects investors' doubts about the government's capacity to withstand the growing costs of living across the region.

Since graphics cards can no longer be used to mine a cryptocurrency, Ethereum’s long-awaited switch to proof-of-stake has had an even greater impact on the industry.

Holders of the largest cryptocurrency, Bitcoin [BTC], might have a cause to be joyous in the coming days, blockchain analytics platform, Santiment, recently found.

The US dollar experienced a substantial increase over the weekend. Since the dollar usually trades inversely proportional to Bitcoin, analysts predicted that the Bitcoin price should have declined over the weekend. However, Bitcoin appears to be holding steady.

The crypto market's downward spiral has made investors despondent. But hope is not lost if certain key factors play out.

Bitcoin (BTC) volatility edged higher during Sept. 26 as the Wall Street open avoided significant losses.

Being long on the bitcoin price is a sounder strategy today than being long on the British Pound as the currency touches historic lows against the US dollar.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

 

With this latest initiative, the service is now available to up to 100,000 salf-directed investors in the DBS Treasures segment.Sim S. Lim,group executive, consumer banking and wealth management, DBS Bank says: “Broadening access to DDEx is yet another step in our efforts to provide sophisticated investors looking to dip their toes in cryptocurrencies with a seamless and secure way to do so.”According to Capgemini’s World Wealth Report 2022, 71% of high net-worth individuals globally - and 91% of those below 40 years of age - have invested in digital assets.Starting from a minimum investment sum of $500, DBS wealth clients can now trade bitcoin, bitcoin cash, ethereum and XRP on DDEx.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.