Bitcoin Financial News

Bitcoin (BTC) starts a new week staring down a wild macro environment after sealing its lowest weekly close in nearly two years.

The acceptance rate for cryptocurrencies is at an all-time high and the markets are expanding globally. This brings both opportunity and vulnerability. El Salvador and other nations have begun to accept Bitcoin as legal tender and other nations are seeking to regulate virtual currencies. There is a lot of speculation over regulation of cryptocurrency because its future vis-a-vis governments is uncertain.

Heading into October expert traders speculate the best crypto to buy right now could be a new coin listing set to launch on a tier one exchange.

The major United States stock market indices continued their decline last week as worsening macroeconomic conditions increased concerns of a global recession. The Dow Jones Industrial Average closed at its lowest level in 2022 and major indices recorded their fifth weekly close in the past six weeks.

Bitcoin’s (BTC) performance over the past month hasn’t made anyone happy, with BTC not recording many upticks on the charts. Even so, opinions are diverse. While some think a price surge could be incoming, others think the cryptocurrency might fall further down the charts.

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

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

While Ethereum (ETH) fans are enthusiastic about the successful Merge, Swan Bitcoin CEO Cory Klippsten believes the upgrade will lead Ethereum into a “slow slide to irrelevance and eventual death.” 

Bitcoin (BTC) headed for its lowest weekly close since 2020 on Sep. 25 as a week of macro turmoil took its toll.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

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

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.

Data from blockchain analytics platform, Santiment revealed that Bitcoin [BTC]‘s Market-Value-to-Realized-Value (MVRV) stood at -43. This was close to the lowest position the metric has clinched before a rebound. Historically, the king coin’s lowest was a negative value of -53 in December 2018.

In the early days of Bitcoin (BTC), crypto enthusiasts only required a basic personal computer with an internet connection to generate new BTC tokens through a distributed computing process known as mining. 

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Ethereum (ETH), the second most-valued crypto after Bitcoin, also was up 7% at $1352, while Ripple (XRP) gained by a whopping 30% to $0.536. The US-dollar pegged stablecoin Tether (USDT) traded with a mild cut, while meme-coins, including Dogecoin and Shiba Inu also rose in trade by up to 8%. Bitcoin (BTC) was largely holding on to $19,000 levels even as central banks globally have resorted to aggressive interest rate hikes following the US Fed’s ultra-hawkish outcome on Wednesday. After the Fed outcome, Bitcoin tumbled to below $18,400, its lowest level since early June, but later re-gained momentum in Thursday’s session after investors started to take positions again in the crypto market. Following sharp gains in digital tokens, the global market cap over the last 24 hours ascended by 5% to $953.18 billion, while volumes in the crypto universe tanked by over 16 per cent.

Coming up with a good name is often one of the most challenging decisions one needs to make when launching a new service or business. Historical data of domain name purchases suggest that Satoshi Nakamoto, the creator of Bitcoin (BTC), had an alternate naming option in mind that did not make it to the whitepaper.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

For the third consecutive time, Federal Reserve, on 21 September, raised interest rates by 75 basis points (0.75 percentage points). 

Toronto-based Valour Inc. (formerly known as DeFi Technologies Inc.) is set to debut its Bitcoin Carbon Neutral Bitcoin Exchange Traded Product (ETP) on Börse Frankfurt, Germany’s largest stock exchange.

The S&P 500 index has declined about 5% this week while the Nasdaq Composite is down more than 5.5%. Investors fear that the Federal Reserve’s aggressive rate hikes could cause an economic downturn. The yield curve between the two-year and 10-year Treasury notes, which is watched closely by analysts for predicting a recession, has inverted the most since the year 2000.