Bitcoin Financial News

On ‘Friday the 13th’, the crypto market was slowly recovering from its scare the previous day, when Bitcoin slipped below $27,000. At press time, though, most of the top 100 coins and tokens were still in the red. One of the few assets which was still green was Maker [MKR] – the 43rd biggest crypto at the time of writing, though this could change at any second.

Bitcoin was conceived more than a decade ago as «digital gold,» a long-term store of value that would resist broader economic trends and provide a hedge against inflation. But bitcoin's crashing price over the past month shows that vision is a long way from reality. Instead, traders are increasingly treating the cryptocurrency like just another speculative tech investment. Since the start of this year, bitcoin's price movement has closely mirrored that of the Nasdaq, a bench mark that's heavily weighted toward technology stocks, according to an analysis by the data firm Arcane Research. That means that as bitcoin's price dropped more than 25% over the past month, to under $30,000 on Wednesday — less than half its November peak — the plunge came in near lock step with a broader collapse of tech stocks as investors grappled with higher interest rates and the war in Ukraine.

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

A week ago, Terra [LUNA] was just above $80 as investors bemoaned its faith. But at press time, the ex-top ten crypto was changing bloodstained hands at $0.00005687. Naturally, the shock of this fall has many new and confused investors looking at their favorite altcoin projects, wondering if there’s a chance of them heading in the same direction.

Altcoins saw a relief bounce on May 13 as the initial panic sparked by Bitcoin's sell-off Terra's UST collapse and multiple stablecoins losing their dollar peg begins to decrease and risk loving traders look to scoop up assets trading at yearly lows.

The cryptocurrency market has witnessed a significant crash in the last few days. Bitcoin along with altcoins suffered a major crash that saw coins reaching levels never seen below. Needless to say, the unexpected fall sent shockwaves across the market.

Bitcoin's value fell by more than half its value since its November 2021 peak, which caused the entire cryptocurrency market to collapse. Terra (LUNA) and TerraUSD (UST) both experienced such steep declines that investors may be spooked. When both cryptocurrencies were enjoying their honeymoon period a month ago, who would have thought they would face such a steep fall? The weak sentiment spread across the crypto market resulted in investors withdrawing their money, causing Tether (USDT) to lose its peg to the dollar. 

This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% tax on crypto gains.

It has been a rough week for the cryptocurrency market, primarily because of the Terra ecosystem collapse and its knock-on effect on Bitcoin (BTC), Ethereum (ETH) and altcoin prices, plus the panic selling that took place after stablecoins lost their peg to the U.S. dollar.

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

Bitcoin (BTC) rebounded sharply after dropping near its realized price of $24,000 on May 12, suggesting some bulls went against the herd and bought the dip. According to on-chain analytics platform CryptoQuant, the exchange balances declined by more than 24,335 Bitcoin on May 11 and 12, indicating that bulls may have started bottom fishing.

CryptoWendyO heard about Bitcoin (BTC) on the radio and decided to take a risk. Little did she know, the risk she would take would change her life in ways she never thought possible. The influencer shared her Bitcoin journey in this episode of Crypto Stories.

This year's Eurovision Song Contest in Italy is bringing joy and music to living rooms across the continent just when it's needed the most -- amid a devastating war in Ukraine and a cost of living crisis. 

It’s time for some self-reflection in the crypto community after the spectacular collapse of the terraUSD (UST) stablecoin and the entire Terra (LUNA) ecosystem.

Bitcoin (BTC) failed to clinch $31,000 by the Wall Street open on May 13 as new warnings forecast continuation of downside.

It might be Friday the 13th, but the real scare for many bulls probably came a day earlier, when Bitcoin dropped below $27,000. However, as Bitcoin hit $30k again and the top ten cryptos by market cap fell into formation, here’s how the seventh biggest asset was doing.

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Bitcoin fell to its lowest in 16 months on Thursday, leading a rush out of risk assets such as tech stocks, while the collapse of TerraUSD, a so-called stablecoin, underscored the strain on cryptocurrency markets. The world's largest cryptocurrency dropped as low as $26,970, to stand at its lowest since Dec. 28, 2020. In the last eight sessions, it has lost a third of its value, or $13,000. Bitcoin surged in 2021 to reach its all-time high of $69,000 that November.

Bitcoin moved past the $30k mark in recent hours after finding some support at $28.5k, and this move upward prompted many altcoins to rally. Decentraland saw a 45% rally in recent hours, and EOS flipped its bias toward bullish after a week of intense selling. PancakeSwap could see a quick move above the $5 area in the next few hours, provided Bitcoin can hold above the $30k mark.

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Concerns are being voiced that El Salvador could default on bond payments, with international critics claiming that President Nayib Bukele’s “experiment” to grant bitcoin (BTC) legal currency status “has hit a wall.”