Bitcoin

Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in ...

Nasdaq futures were down a further 2.3% on Monday. MKTS-GLOB read more Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

Cryptocurrency losses steepened over the weekend. Crypto trades 24 hours a day, including weekends. “Bitcoin has followed the lead of the equity market, ...

"But other inflation metrics are starting to slow down and the April CPI could follow suit, which in turn will likely alleviate the market's concern and help recover its risk sentiment." Bitcoin needs to maintain the key psychological level of $33,000 to prevent further deterioration of technical sentiment, Hasegawa added. Losses steepened over the weekend. Key U.S. inflation data for the month of April, due to be released Wednesday, could be a temporary "turning point" for bitcoin, according to Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank. Crypto trades 24 hours a day, including weekends. "Bitcoin has followed the lead of the equity market, extending lower after a weak April," said Katie Stockton, founder of Fairlead Strategies. "Short-term momentum has deteriorated … and bitcoin is no longer oversold from a short-term perspective."

Bitcoin (BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street opening. BTC/USD 1-hour candle chart ...

“In Europe, equities are sharply lower, following the Nasdaq experiencing its sharpest one-day fall since June 2020. The largest weekly losses in the top ten belonged to Terra ( LUNA), which shed 27% on the back of controversy over its TerraUSD (UST) stablecoin. “We’ve seen renewed selling in Bitcoin and the wider digital token market as the prospect of increasing interest rates and a deteriorating economic environment continues to weigh on risk assets,” analysts at major exchange Bitfinex, meanwhile, told Cointelegraph in private comments. With the latest installment of a string of losses in May, the pair continued to trade under $33,000 at the time of writing, with weekly losses now at 15%. “A bitcoin dip down to it's realized price (average on-chain cost basis) is entirely possible and has been consistent with previous market bottoms in bear market cycles,” he began a Twitter thread by stating on May 9: Bitcoin ( BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street opening.

Other cryptocurrencies, sometimes referred to as altcoins, have been hit hard too. Ethereum, binance, solana and cardano are all down about 15% in the past week ...

The Federal Reserve is starting to pull back on monthly bond purchases and other stimulus which could be bad news for all sorts of speculative assets. The CNN Business Fear & Greed Index That's bad news for bitcoin too, as many crypto backers point to dollar weakness as a bullish sign for digital currencies. , which tends tor rise in tandem with interest rates. The massive pullback in these and other momentum tech stocks is yet another sign of the rapid shift in the market's mood this year. and susceptible to the same concerns that are dragging down the Dow

Cryptos slumped across the board all weekend, and added to declines Monday morning as global equity markets swooned.

Shares in companies that have significant crypto holdings or operate in the digital asset space are under intense pressure Monday.

Stock in the cryptocurrency exchange Coinbase Global (ticker: COIN) fell 13% by midday. - Print Article - Order Reprints

The price of bitcoin plunged below $33000 on Monday – a downturn that has coincided with a sustained losing streak for US stocks as the market brace for the ...

The tech sector’s recent poor performance reflects a declining investor appetite for riskier holdings. The central bank is tightening monetary policy after taking a lenient approach during the COVID-19 pandemic. The price fell to its lowest level since July 2021.

Bitcoin just hit its lowest point since July 2021. Here's how low one expert thinks it could go, and what investors should know.

Increased institutional adoption of crypto has made its market more intertwined with the stock market, which in turn, has been largely impacted by the war in Ukraine, surging inflation, and the Fed’s tightening monetary policy, experts say. Bitcoin’s big drop Monday is just the latest reminder for investors that crypto assets come with extra risk and volatility, especially in times of economic and political uncertainty like we’re in now. Bitcoin’s high point of the year so far remains in the earliest days of January, when it nearly hit $48,000. It’s been a shaky start to the week for Bitcoin and other cryptocurrencies, largely driven by ongoing macroeconomic uncertainty. A correlation of one means that they move equally one to the other.” And one expert warns bitcoin could drop even further, below $30,000 for the first time since July 2021.

The dramatic drops follow the Fed's move last week to hike interest rates by half a point to combat inflation. The largest interest rate increase in 20 years ...

The dramatic drops follow the Fed’s move last week to hike interest rates by half a point to combat inflation. Ethereum, the second-largest cryptocurrency, also fell by 5% since Friday. As of Monday morning, Bitcoin is down to $32,940, a drop that marks a steep fall of more than 50% since its all-time high of $68,990 in November — and Bitcoin isn’t the only digital currency taking a dive.

It puts the largest crypto at its lowest level since January, and a move well below $33,000 would mark a new yearly bottom and the lowest level since July 2021.

The price of Bitcoin has fallen 4% over the past 24 hours to below $33,300, deepening losses from over the weekend after changing hands around $36,000 on Friday. It puts the largest crypto at its lowest level since January, and a move well below $33,000 would mark a new yearly bottom and the lowest level since July 2021.... Cryptocurrency prices tumbled over the weekend and into Monday, with Bitcoin nearing a yearly low as investors continued to dump risky assets amid a tough stock market and challenging macroeconomic backdrop.

Bitcoin is the gold standard of cryptocurrencies. At just under $36000 it's also the priciest. But that doesn't preclude you from being able to purchase the ...

If you want to sell, simply tap "Sell," choose the amount and it will show up as cash in your Cash App account. Many of you want to learn how to purchase Bitcoin and hold it in a hot wallet. Once you sign up for Cash App on the iOS or Android platform, you can easily purchase Bitcoin. Cash App is also a hot wallet so you can purchase and hold your crypto assets online without moving them, and to buy and sell them as you see fit. The information presented by the Crypto Coach and ZDNet is not intended to be individual investment advice and is not tailored to your personal financial situation. Because Cash App provides you with a hot wallet, you can simply store your Bitcoin online securely. In this example, I am going to send it to my Arculus Cold Wallet. Bitcoin is the only cryptocurrency Cash App supports, but once you own Bitcoin, you can hold it or exchange it for any other cryptocurrency available. For example, you can buy as little as $5 worth of Bitcoin weekly and build up your holding over time. A year later, it was up to $30 and by 2017, it vaulted to $20,000 a coin. The creator of Bitcoin is allegedly a computer programmer named Satoshi Nakamoto, whose true identity has yet to be revealed. In the simplest definition, Bitcoin is a virtual, digital currency that runs on a peer-to-peer network that has no central authority; no oversight from banks or government entities such as the Federal Reserve of the European Central Bank. Instead of a regulated bank, a decentralized ledger system known as a blockchain records all Bitcoin transactions, and copies of that ledger are held on computer servers in the Bitcoin blockchain network studded throughout the world. And notwithstanding declining market values, Bitcoin remains the most reliable blockchain cryptocurrency, providing stability and security.

World's largest cryptocurrency falls below $32,000 ... With more professional investors trading bitcoin, the market has increasingly moved in tandem with ...

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Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.

In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world's most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower. - In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world's most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower. - Bitcoin's close correlation to the Nasdaq challenges the argument that the cryptocurrency functions as an inflation hedge.

Bitcoin extended losses, dropping below $31000 for the first time since July 2021, putting its decline from a November record high to more than 50% amid a ...

Here's a scorecard on eight ways to own crypto. The most intriguing: a low-cost coin trust available at a nice discount.

Contango reflects both the cost of financing a stockpile of a commodity and the cost of securing it. Trading volume, almost all of it in the nearest month, typically runs to $1 billion a day. On bitcoins the contango is a volatile number usually falling between 3% and 6% annualized. At Coinbase Global, where the minimum account size for this service is $500,000, the fee is 0.5% a year. It’s far more likely that bitcoin will crash another 50% than that the discount will make a comparable move from 26% to 63% (meaning: Your trust collapses from 74 cents on the dollar to 37 cents). “Between now and then the discount is likely to deepen as the number of competitive ways to hold bitcoin also deepens.” Osprey has but $100 million of coins in its vault, and its average daily share volume over the past year would be worth $400,000 at today’s share price. The ETF structure allows market makers to cash in unwanted fund shares (or buy new shares when shares are sought after) via a swap for underlying assets. Among the many ways to get a piece of the action, there are wide differences in ownership costs. What might widen the discounts: a continued fall in crypto prices. Bear markets have a way of doing double damage to closed-ends, depressing their share prices even faster than prices decline on the assets they hold. There are pros and cons to every means of getting cryptocurrency exposure, including the little outfit in Fairfield. This survey covers eight bitcoin bets in descending order of my views on their desirability.

A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, ...

The plan is to eventually allow UST holders to redeem their tokens in exchange for bitcoin. The world's largest digital coin dropped below $33,000 on Monday, slumping to its lowest level since July 2021. LFG bought another $1.5 billion in bitcoin last week, taking its total reserves to about $3.5 billion. "BTC will likely go lower before it bounces back when short-sellers take profit." The latest challenge arrived over the weekend. Terra's protocols also feature an arbitrage mechanism, where investors can exploit deviating prices in each of the tokens. But that's done little to assuage investors' concerns about the implications for bitcoin. That includes lending $750 million worth of bitcoin to trading firms to "protect the UST peg" and a further 750 million in UST being lent out to buy more bitcoin "as market conditions normalize." The idea is that bitcoin would act as the "reserve currency" for the Terra ecosystem. The model is designed to even out supply and demand for UST. When the price of UST is too high, users are incentivized to burn luna and create new UST, increasing the stablecoin's supply while also decreasing the amount of luna in circulation. A multibillion-dollar bet that bitcoin can act as a "reserve currency" for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg. UST dropped close to 99 cents over the weekend, fueling fears of a potential "bank run" that could force Terra, the project behind it, to dip into a $3.5 billion pile of bitcoin to support the token.

The loss of an influential stablecoin's peg with the U.S. dollar over the weekend has prompted fear in the digital-asset market.

Bitcoin’s correlation with stocks is certainly a major factor. Cryptocurrency market analysts are looking around for where to lay the blame as Bitcoin prices plunge on Monday. Why Another, Smaller Crypto Is Partly to Blame as Bitcoin Prices Plunge to Yearly Lows

Bitcoin's price is down more than 50% from its November 2021 peak and has fallen over 11% today, nearing the $30000 mark, leaving many investors scrambling ...

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The slide in the value of cryptocurrencies comes as stock markets around the world have also fallen.

"The average employee at Uber is barely over 30, which means you've spent your career in a long and unprecedented bull run. Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 20% in the last week. Investors are also worried about the impact of the war in Ukraine on the world economy. Bitcoin, which accounts for about a third of the cryptocurrency market with a total value of close to $570bn, has seen its price plunge more than 10% in the last day and more than 20% in the last week. Moves in cryptocurrency markets have increasingly followed wider trends, as professional investors, such as hedge funds and money managers, become more active in trading what was once the domain of individual investors and enthusiasts. The fall of the world's largest cryptocurrency by market value comes as stock markets around the world have also tumbled in recent days.

Bitcoin prices have suffered some heavy losses lately, falling to less than $30,000 during a day where risk assets experienced a broad sell-off.

But when observed over a multi-year timeline, their overall rise in price was nothing short of meteoric.” Between rate hikes and asset sales, these financial institutions could have a significant impact on the global asset markets, which many believe have become inflated as a result of unprecedented stimulus. “The crypto world is experiencing a rate of adoption globally that is incredibly fast – perhaps at twice the rate at which the internet itself was adopted in the 90s,” Powell noted. “What I think is important to keep in mind here is that, longer term, Bitcoin and the crypto industry more generally are undergoing a process that is quite different from what traditional equities are experiencing right now,” he stated. “Bitcoin’s decline is primarily based on these macro factors and the rising risks of a global credit deleveraging that are at play, as opposed to its fundamentals, adoption, and growth potential,” said Rule. “Rising rates, a historic pace of monetary policy tightening to combat unprecedented levels of inflation, a strengthening U.S. Dollar versus other global currencies, and a deterioration in global growth outlooks are all macroeconomic forces at play that are driving bitcoin lower,” he stated.

Just how risky is it to invest in digital assets? The ongoing rout in crypto markets is destined to renew that debate. It's not just a question for ...

The paper takes it as a given that digital assets are valuable, and points out that by the standards of digital assets, Bitcoin is the Lindy option, as it was invented first and still exists. “Neo-mania is the exact reverse of Lindy.” Kuiper mentioned that people in Bitcoin circles had taken to calling the dreary document “the black paper.” Taleb said he is no apologist for the existing banking system, either. He doesn’t buy the argument that Bitcoin is Lindy, either. The January paper lays out the view that Bitcoin is superior to other digital assets. On the other hand, Bitcoin, as a new technology, is likely to be replaced by a newer technology. As it happens, Fidelity’s digital assets group has been one of the most prominent proponents of the view that Bitcoin, in particular, is extremely valuable. In his paper, Taleb argues that Bitcoin is too price-volatile to work as a currency and that competition between fiat currencies along with traditional financial instruments provide sufficient opportunities to hedge against inflation. In fact, the cryptocurrency’s market price has fallen by 80 percent or more three times, only to recover. The Boston-based Fidelity is the kind of place where doctors and lawyers park their retirement savings. This year, much of the policy debate has centered on the idea of spot Bitcoin ETFs. Several large asset management firms have applied to the SEC for permission to list such funds, which would invest directly in Bitcoin and could be bought or sold just as easily as publicly traded stocks.

"Institutional investors are getting out of risk assets and bitcoin is the first on the chopping block," says Ben McMillan, chief investment officer at IDX ...

If the stock market continues to sell off, it's very hard to imagine bitcoin isn't going to go down too. Of course, not everyone is so bullish on crypto due to the risks that come along with such investments. "If you believe in the fundamental use case of cryptocurrency, I don't think that this should necessarily be a spooky time for you," Ouellette says. In 2021, its price fell to below $30,000 before surging to November's record high, and seeing a 10% drop in a day is not uncommon for investors with their money in bitcoin and other cryptos, like ether or dogecoin. Last week, the Fed announced it would raise its benchmark interest rate by a half percentage point, on top of a quarter-percentage point increase in March. The cryptocurrency's price has plummeted to $32,000 per coin amid a wider stock market selloff.

Bitcoin momentarily briefly dropped below the $30,000 price level late Monday. At its lowest price point, the world's most popular cryptocurrency was more ...

Meanwhile, all three major stock indexes closed Monday lower, with the S&P 500 falling to its lowest level in more than a year. It later recovered from some of those losses and was trading at $31,181.28 as of 10:38 p.m. ET Monday, according to data from Coin Metrics. - At its lowest price point, the world's most popular cryptocurrency was more than 12% lower on the day — and more than 56% off its November all-time high of around $69,000.

Bitcoin is at a 10-month low. The cryptocurrency fell almost 12% Monday to as low as $29842, down more than 50% from its all-time high in November.

Do Kwon, founder of Terraform Labs, which powers the blockchain, earlier pledged to purchase as much as $10 billion in bitcoin to support the stablecoin. “We had an unprecedented increase in Fed liquidity, buying $120 billion a month of securities. “Bitcoin’s correlation to traditional markets has just kind of been in the driver’s seat lately,” Clemente added. Since March, the Fed has been holding its balance sheet steady at nearly $9 trillion by reinvesting proceeds of maturing securities. If they are hosing down the fire as they transition from arsonist to firefighter, that’s bearish,” Donnelly wrote. “The type of market participants that have stepped in over the last few years are largely these macro-trading traditional funds.

By Lisa Pauline Mattackal and Medha Singh (Reuters) - Bitcoin has scant experience with rising interest rates, posing perils for investors looking to ...

The Nasdaq and S&P 500 posted their fifth straight week of declines last week and the Dow Jones its sixth. It’s certainly a higher correlation than we’ve seen in the past,” said Benjamin Dean, director of digital assets at WisdomTree in London. Bitcoin is considered risky, but some altcoins are at an even higher risk and those will have even larger sell-offs,” said Kline. “The era of free money is over. The Fed’s rate rise of by 50 basis points last week was its largest in 22 years. Bitcoin was an awkward child on the fringes of finance during the Fed’s previous tightening cycle, from 2016 to 2019, and was barely correlated with stocks.

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Data show some 40% of Bitcoin holders are now under water. How major investors act now will be crucial to where this market goes.

The last time Bitcoin was below the key $30,000 level was during a selloff in July 2021. Bitcoin prices were down 6% over the past 24 hours to around $31,500, having dropped under $29,800 in the trough of Tuesday trading. The price of Bitcoin briefly slipped below $30,000 early Tuesday, a level the largest cryptocurrency has not consistently traded beneath in two years, as digital assets continued to face pressure from a wider market rout.

Research firm Glassnode says the crypto bear market has led institutional and retail investors to exit the market.

Some investors are still “hodling” their stake—an insider term for holding on to a position—or even strengthening their position by buying the dip and rushing into the weaker market. The largest monthly decline in profitability was March 2020, Glassnode says, when 35.4% of the market fell into loss in 30 days. As Bitcoin's price has tanked even lower, now floating between $31,000 and $32,000, an even larger share of investments are in the red.

Major cryptocurrencies showed tepid signs of stability Tuesday following a five-day rout. Bitcoin, the world's largest cryptocurrency by market value, ...

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Casa builds what is known as a “self-custody” bitcoin wallet that leaves users in control of their private keys. This differs from the custodial model employed ...

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Its new “Casa API” will help businesses, such as Swan Bitcoin and Choice IRA, authenticate their customers’ financial identity when approving loans or making retirement investments, a press release said. Casa builds what is known as a “ self-custody” bitcoin ( BTC) wallet that leaves users in control of their private keys.

Inflation fears, worries about big interest rate hikes from the Federal Reserve and jitters about a possible economic slowdown have rattled Wall Street and sent ...

The CNN Business Fear & Greed Index, which measures seven indicators of market sentiment, is in Extreme Fear territory. The Federal Reserve is starting to pull back on monthly bond purchases and other stimulus which could be bad news for all sorts of speculative assets. Hive Blockchain, Marathon Digital Holdings and Riot Blockchain are all down between 50% and 60% this year. The surge in yields has also helped lift the value of the dollar, which tends tor rise in tandem with interest rates. Robinhood, which also lets people buy and sell some cryptocurrencies, has fallen more than 45% in 2022. On Monday, the S&P 500 fell 3.2% and finished down 16.8% from its Jan. 3 record.

Data show some 40% of Bitcoin holders are now under water. How major investors act now will be crucial to where this market goes.

The last time Bitcoin was below the key $30,000 level was during a selloff in July 2021. Bitcoin prices were down 6% over the past 24 hours to around $31,500, having dropped under $29,800 in the trough of Tuesday trading. The price of Bitcoin briefly slipped below $30,000 early Tuesday, a level the largest cryptocurrency has not consistently traded beneath in two years, as digital assets continued to face pressure from a wider market rout.

Inflation fears, worries about big interest rate hikes from the Federal Reserve and jitters about a possible economic slowdown have rattled Wall Street and sent ...

The CNN Business Fear & Greed Index, which measures seven indicators of market sentiment, is in Extreme Fear territory. The Federal Reserve is starting to pull back on monthly bond purchases and other stimulus which could be bad news for all sorts of speculative assets. Hive Blockchain, Marathon Digital Holdings and Riot Blockchain are all down between 50% and 60% this year. The surge in yields has also helped lift the value of the dollar, which tends tor rise in tandem with interest rates. Robinhood, which also lets people buy and sell some cryptocurrencies, has fallen more than 45% in 2022. On Monday, the S&P 500 fell 3.2% and finished down 16.8% from its Jan. 3 record.

Miami's annual gathering of Bitcoin zealots began with a bull. The city's mayor, Francis Suarez, had arrived to welcome more than 25,000 attendees at the ...

Another woman attended an after-party at the home of a prominent crypto investor, and later discovered that someone had slipped an AirTag into her bag at the party. One woman told me a man had groped her breasts at a private party during the week of the Bitcoin conference. Hundreds of people had replied to the tweet and written disturbing things about her body. Someone with the handle @bitcoin_fuckboi had posted a photo that featured an unflattering view of Siegel’s backside. Rachel Siegel had flown into Miami that week for the conference. The only flaw, some conference-goers complained, was that the figure appeared to be female: It was missing a phallus and testicles.

“Cryptocurrencies have fallen in lockstep with the broader stock market in recent days. The trend for bitcoin and other digital assets to fall alongside stocks ...

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. That may not seem like sage advice, but at a moment where all things seem chaotic and out of your hands, it’s worth evaluating what you may hold. As Sommers notes, “The current situation is anything but normal.” As bitcoin falls below Saylor’s purchase price, he may have cause to sell (in part to collateralize his company’s loans). Today, he said he will never sell – following the popular mantra among bitcoiners to “hodl,” thinking that, long-term, all assets will depreciate against the hard-capped BTC. It seems clear enough, however, that the market turmoil is tethered to the Federal Reserve’s commitment to raise interest rates amid a period of surging inflation. Terra’s backers had previously planned to purchase $3 billion in bitcoin as a backstop, and yesterday took the incredible move to sell a significant chunk of it as UST, the stablecoin, dropped as low as $0.61. CoinDesk columnist David Z. Morris called this “Kwontitative easing,” playing on one of the Fed’s generous policies to spur economic growth through spending. Some people have it incredibly hard: Do Kwon, founder of the breakout crypto ecosystem Terra, is working to salvage his risky algorithmic stablecoin after it lost its one-to-one peg to the U.S. dollar. We, or at least I, have a tendency to sentimentalize the economy knowing how people’s retirements and livelihoods are tied up in capital. Some small investors have a game plan: They dollar-cost average (or make consistent purchases over a length of time regardless of the market price to try to avoid “timing the market”). Others “ape in,” spurred by a sense of “missing out” as a market’s Ponzi-like mechanisms kick into gear. This nut graph (journo speak for a summary) gets at the changing conditions of the crypto industry in relation to the wider economy. And so “corrections” appear to be more personal than just the mechanizations of money. “Cryptocurrencies have fallen in lockstep with the broader stock market in recent days.