Bitcoin Financial News

On Saturday morning, Bitcoin continued to command attention, with a recent price uptick to $63,375. This week, the foremost digital currency has shown resilience, registering a modest 0.22% rise. Currently positioned above a critical pivot point of $61,650, Bitcoin’s trajectory seems poised for further exploration towards $70,000.

«Coin of the Week» is a featured series highlighting the week's top-performing cryptocurrency. This article offers a comprehensive 360-degree analysis encompassing fundamental, technical, sentimental, and on-chain perspectives. Join us as we explore the intricacies of this standout coin and explore its multifaceted performance. Let's dive in.

As crypto markets rebound thanks to a softer-than-expected US labor market report, with Bitcoin (BTC) last up nearly 5% on the day in the upper $61,000s, traders are weighing up opportunities in the altcoin market as they hunt for the best crypto to buy today.

With blue-chip cryptocurrency markets recovering on Friday as macro traders price back in multiple rate cuts for 2024 following the latest US jobs report, traders looking for top crypto gainers today continue to turn to the highly illiquid and volatile on-chain markets for opportunities.

While many market segments panic-sold their Bitcoin (BTC) this week, the digital currency’s largest whales seem to have bought the dip with size.

The Bitcoin (BTC) price has powered back into the mid-$61,000s in wake of a softer-than-expected US labor market report which has boosted hopes that the Fed cuts interest rates more than once before the end of 2024.

The CEO of CF Benchmarks, a subsidiary of cryptocurrency exchange Kraken, predicts that crypto exchange-traded funds (ETFs) in Hong Kong will overcome their lackluster start and accumulate over $1  billion in assets under management (AUM) by the end of 2024.

Enforcement Directorate (ED) has recovered 268 bitcoins coins worth ₹138 crore from a Haldwani resident whose premises were raided last week on the instance of US authorities investigating his alleged involvement in an international drug trafficking group. ET arrested Parvinder Singh last week after it raided his residence in Haldwani, Uttarakhand. ET had reported on April 27 that in a rare instance, ED, while teaming up with the US authorities, carried out a search in Haldwani to assist the US sleuths unravel Singh's involvement in an international drug racket. After Singh's arrest, Parvinder was remanded to ED's custody till May 4. His interrogation led to the recovery of 268 bitcoins worth ₹138 crore, said a senior official on the condition of anonymity.

As the market shows tentative signs of revival ahead of US nonfarm payroll, the Bitcoin price recently halted its downward trend and surged past the $59,000 mark, reaching an intraday high of nearly $59,992. This movement comes amidst a broader uptick in the cryptocurrency market, where peers like Ethereum , Dogecoin , Ripple , Solana , and Litecoin also experienced gains.

Coinbase  has reported a remarkable revenue of $1.6 billion in the first quarter of the year, representing a substantial 72% increase compared to the previous quarter. 

cryptocurrency market cap surged 3.1% to approximately $2.22 trillion over the last 24 hours. As of 12:13 pm IST, Bitcoin was trading 3.2% higher at $59,383. Meanwhile, Ethereum (2.5%), Solana (6.8%), XRP (2.7%), Dogecoin (5.3%), Toncoin (11.5%), Shiba Inu (5.2%), and Polkadot (4.8%) were also trading higher.

Bitcoin’s tumble is piquing the interest of investors who view pronounced swings in the digital token as a possible precursor for broader changes in risk appetite in global markets. The cryptocurrency has shed about 4% in the past two days following a near 16% plunge in April, the worst monthly drop since Sam Bankman-Fried’s FTX digital-asset empire imploded in November 2022. The token changed hands at $57,359 as of 11:17 a.m. Thursday in Singapore, around a two-month low.

Jack Dorsey-led Block announced plans to allocate 10% of profits from its Bitcoin products toward buying more of the cryptocurrency each month, its quarterly report published Thursday showed.

As blue-chip cryptos stabilize following a tumble earlier this week, with Bitcoin (BTC) consolidating below $60,000, traders are turning to the on-chain markets as they hunt for top crypto gainers today.

As the meme coin market shows signs of revival, Bitcoin also displayed robust market activity, trading at approximately $59,140 with a 24-hour trading volume of about $35 billion.  The cryptocurrency has increased by around 3.25% in the last day, mirroring the gains seen in the recovering meme coin market.

Analysts at cryptocurrency exchange Bitfinex predict the price of Bitcoin could consolidate for up to two months post-halving.

Investors pulled out a record net $563.7 million from spot bitcoin exchange-traded funds (ETFs) Wednesday amid big price swings for bitcoin (BTC). But analysts say investors have may not have a reason to worry just yet.

high-risk investor, it promptly asks you to put your money in cryptocurrencies, among other options. Not only does it suggest investing in cryptos, but it also shares with the inquisitive user the key reason for doing so. It says that the cryptocurrency market is highly speculative and volatile, and therefore it is suitable only for the high-risk investors who are seeking substantial returns.

While that type of dislocation is typically a troubling sign for an ETF, the chief investment officer of one issuer called it “more an accounting quirk than a real issue” due to the unusual way in which the funds track the value of their assets.

Alun Cairns, a Conservative UK Member of Parliament, called on the Financial Conduct Authority (FCA) to reconsider its ban on crypto exchange-traded products (ETPs) for retail investors. In a Politics.co.uk op-ed published Thursday, he raised concerns that the country is falling behind.

Yaroslav Vasinskyi, a Ukrainian national known as  “ Rabotnik, ”  has been handed a prison sentence of 13 years and  seven months for his role in ransomware attacks.