Bitcoin Financial News

Major cryptocurrencies traded in the green early on June 15 as the global crypto market cap increased 4.3 percent to $936.39 billion over the last day. On the other hand, the total crypto market volume dropped to $103.41 billion.

Some of the highest-profile investors in crypto believe that a crypto market bottom is fast approaching and the timing is right to buy — although one still warns of catastrophic outcomes should prices fall below established support levels. 

Even though there are many cryptocurrencies recovering today, Bitcoin is continuing to stack up more losses. Interestingly, institutions seem to have identified it beforehand, making their exit as soon as the first signs emerged.

The cryptocurrency market continues to suffer market-wide liquidations amounting to millions. Bitcoin [BTC], the largest crypto by market cap, was changing wallets at the $22k mark as it suffered a 6.44% correction over the last day. But the situation might be getting worse. A majority of macro indicators suggest the market is entering the deepest phase of this bear cycle.

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

Binance CEO, Changpeng Zhao, commonly known as “CZ,” said in a recent interview that a potential crypto winter is good for business.

This year has undeniably been horrible for bitcoin (BTC) investors. But if it’s any comfort, some in the stock market have suffered even more.

Coinbase had already put in place a hiring freeze and rescinded a host of accepted job offers.In a blog, CEO Brian Armstrong says: "We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period."Armstrong also says that Coinbase has grown "too quickly" from its headcount of 1250 at the beginning of 2021 and the firm now neds to manage expenses and increase efficiency.

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The cryptoasset market crash continued on Tuesday, with bitcoin (BTC) falling to as low as USD 20,800 before trimming some of its losses. The significant selloff came as the market braces for the possibility of an unusual 75 basis point rate hike from the US Federal Reserve (Fed) this Wednesday.

Bitcoin (BTC) crept higher after the June 14 Wall Street open as analysts hoped that long-term support  had been preserved.

Bitcoin, along with other major crypto tokens nosedived in the last 24 hours, hurting investors' portfolios badly. Bitcoin, akin to other peers, has wiped off about 70 per cent of its value from peak. It plunged to the lowest in about 18 months after the freezing of withdrawals by the Celsius lending platform added to concern that systemic risk in the crypto ecosystem will accelerate the digital-asset market meltdown. Apart from this, recession and inflation fears also haunted investors.

Hardware cryptocurrency wallets are known for granting users full control of their crypto and providing more security, but such wallets are prone to risks such as theft, destruction or loss.

El Salvador’s Minister of Finance Alejandro Zelaya says he is “laughing off” international media reports that claim the nation’s bitcoin (BTC) adoption plans could scupper the economy and that they have left a USD 40 million hole in national finances.

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Bitcoin (BTC) megahodler MicroStrategy can ride out further BTC price declines, even if it falls to just $3,500, its CEO confirms.

Bitcoin plunged to the lowest in about 18 months after the freezing of withdrawals by the Celsius lending platform added to concern that systemic risk in the crypto ecosystem will accelerate the digital-asset market meltdown. The world's largest digital token tumbled as much as 15% to $23,336 — its lowest since December 2020. Other cryptocurrencies also declined as a broader sell-off continued. The MVIS CryptoCompare Digital Assets 100 Index, which measures 100 of the top tokens, dropped as much as 15%. And the total market value, which topped $3 trillion in November, was $1.02 trillion as of 9:48 a.m. New York time on Monday, according to CoinGecko. «The fundamentals to support stabilization and recovery just aren't there,» said Steven McClurg, co-founder and CIO at crypto fund manager Valkyrie Investments. «Things can and likely will get worse before they get better.»

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

Ghana national Daniel Karikari worked as a part-time office assistant at a crypto startup, cleaning the office and serving coffee to its managers. While performing his tasks, he encountered the words “blockchain” and “cryptocurrency” on the office wall, sparking his interest that eventually led to a new career. 

“Everything is bigger in Texas” proved to be true during Consensus 2022. The crypto conference took place June 9–12 in Austin, Texas, this year, attracting 17,000 people from across the globe, despite the 100-degree plus weather. According to the event sponsors, Consensus 2018, which was held at the Hilton Hotel in New York, had previously drawn in almost 9,000 attendees. 

Alejandro Zelaya, the minister of finance of El Salvador, reacted to the recent media attacks on the nation’s strategy of investing in Bitcoin (BTC) by calling the allegations of fiscal risks “extremely superficial.”