Bitcoin Financial News

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

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

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Bitcoin (BTC) played wait-and-see with traders on June 28 as Wall Street opened to flat performance.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler discussed his opinions on cryptocurrencies, including Bitcoin, in an interview with Mad Money host Jim Cramer on CNBC recently. According to Gensler, Bitcoin is a commodity. The SEC, the Commodity Futures Trading Commission (CFTC), and banking regulators would also collaborate to oversee the cryptocurrency market, he emphasized. 

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

A report published by investing firm Alto surveyed adults based in the United States to find out their preferences in investing. The results showed that more millennials from ages 25 to 40 are investing in crypto compared to those of the same age who are investing in mutual funds. 

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic.

Ethereum (ETH) advocates have reacted after the United States Securities and Exchange Commission (SEC) Chairman Gary Gensler refrained from labeling the coin a commodity – and instead chose to name bitcoin (BTC) among the tokens the SEC chiefs before him deemed a non-security. He, however, contrary to many reports, did not single out bitcoin as 'the only' commodity. 

Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000.

Bitcoin comfortably held above the $20,00 mark. The crypto winter feel is haunting traders across the globe. This, coupled with recession fears and inflationary pressures further cemented risk-off sentiments. All crypto tokens were trading with cuts on Tuesday. Dogecoin plunged 7 per cent, whereas Solana and XRP dropped 6 per cent each. Shiba Inu and Polkadot declined 5 per cent each, whereas Cardano tanked 4 per cent.

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.

crypto's all-for-one ethos was its biggest draw. Now panic is spreading across this universe — and that same ethos is posing what may be the biggest threat yet to its survival. What started this year in crypto markets as a “risk-off” bout of selling fueled by a Federal Reserve suddenly determined to rein in excesses has exposed a web of interconnectedness that looks a little like the tangle of derivatives that brought down the global financial system in 2008. As Bitcoin slipped almost 70% from its record high, a panoply of altcoins also plummeted. The collapse of the Terra ecosystem — a much-hyped experiment in decentralized finance — began with its algorithmic stablecoin losing its peg to the US dollar, and ended with a bank run that made $40 billion of tokens virtually worthless. Crypto collateral that seemed valuable enough to support loans one day became deeply discounted or illiquid, putting the fates of a previously invincible hedge fund and several high-profile lenders in doubt. The seeds that spawned the meltdown — greed, overuse of leverage, a dogmatic belief in “number go up” — aren’t anything new. They’ve been present when virtually every other asset bubble popped. In crypto, though, and particularly at this exact moment, they are landing in a new and still largely unregulated industry all at once, with boundaries blurred and failsafes weakened by a conviction that everyone involved could get rich together.

At the time of writing, Litecoin (LTC) is the 20th biggest cryptoasset by market capitalization. Back in 2013, it used to be the second-biggest, but the following nine years have seen thousands of new altcoins appear on the scene, with many of these making its modest update on Bitcoin (BTC) seem less-than interesting by comparison.

As Bitcoin slipped almost 70% from its record high, a panoply of altcoins also plummeted.

advertisements violated advertising and promotion guidelines of virtual digital assets (VDAs), and guidelines for influencer advertising in the first five months of this year, the Advertising Standards Council of India (ASCI) has said. Of the 453 complaints that ASCI took up between January and May 2022, 419 required modifications, with most complaints against influencers. “Some influencers talk so confidently about crypto without fully understanding it. It does create an impression that it is safe, it's fine and a cool thing,” said Manisha Kapoor, chief executive of ASCI.

Securities and Exchange Commission Chairman Gary Gensler riled up Crypto Twitter on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on Grayscales’ proposed Bitcoin ETF and why Ethereum wasn’t mentioned.

Digital asset investment products saw record outflows totaling $423 million last week, with institutional investors from Canada representing nearly all of the carnage.