Tag: bitcoin market

Bitcoin Climbs to 2-Wk High Ahead of Speech by US Fed’s Powell
30Nov By adminNo Comments
Technology

Bitcoin Climbs to 2-Wk High Ahead of Speech by US Fed’s Powell

[ad_1] Bitcoin spiked higher Wednesday in the countdown to a speech by US Federal Reserve Chair Jerome Powell that may cement expectations for a slower pace of interest-rate hikes in the US. Bitcoin spiked higher Wednesday in the countdown to a speech by Federal Reserve Chair Jerome Powell that may cement expectations for a slower pace of interest-rate hikes in the US. The largest token added as much as 3.7% and was trading at about $17,010 as of 10:41 a.m. in Singapore, the highest level in two weeks. Ether climbed over 4%, while the likes of Binance Coin and Dogecoin also jumped. Powell is due to speak later Wednesday at an event hosted by the Brookings Institution and may echo fellow Fed officials in signaling a half-point rate rise at their final meeting of the year after fou...
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Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’
29Nov By adminNo Comments
Technology

Bitcoin Climb Fails to Dispel Fears That FTX Contagion Is ‘Far From Over’

[ad_1] Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large. Bitcoin pushed higher alongside other major tokens Tuesday but concerns about contagion from the collapse of FTX continue to loom large.The largest digital coin rose as much as 2% and was trading at about $16,490 as of 7:20 a.m. in London. Second-ranked Ether also posted gains, while meme token Dogecoin surged 10% at one point. bitcoin The crypto lender unraveled in the wake of the chaotic demise of Sam Bankman-Fried's FTX exchange and sister trading house Alameda Research. But the crypto world is nervously watching for further fallout from FTX, with the spotlight trained on the likes of struggling brokerage Genesis.“The credit contagion is fa...
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Bitcoin Responds to FTX Contagion by Heading for a Weekly Gain
18Nov By adminNo Comments
Technology

Bitcoin Responds to FTX Contagion by Heading for a Weekly Gain

[ad_1] There can be little doubt that crypto investors expect more firms to blow up in the treacherous wreckage of the wipeout at FTX. Their confounding response has been to drive up Bitcoin. There can be little doubt that crypto investors expect more firms to blow up in the treacherous wreckage of the wipeout at FTX. Their confounding response has been to drive up Bitcoin this week.The token is up some 3% over the period, topping global stocks, while a gauge of the leading 100 virtual coins has added about 1%. That compares with Bitcoin's 23% slide last week as Sam Bankman-Fried's FTX empire collapsed. To recap the backdrop: FTX's chaotic bankruptcy left even the man who liquidated Enron Corp. flabbergasted and put the likes of crypto lender BlockFi Inc. on the cusp of their own Chap...
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Bitcoin Miner Iris Flags Risk of Default on $103 Million of Debt
3Nov By adminNo Comments
Technology

Bitcoin Miner Iris Flags Risk of Default on $103 Million of Debt

[ad_1] Iris Energy Ltd. is the latest Bitcoin miner to grapple with debt trouble because of the sharp market downturn for digital assets. Iris Energy Ltd. is the latest Bitcoin miner to grapple with debt trouble because of the sharp market downturn for digital assets. The Sydney-based green crypto miner, which listed in the US last year, said in a statement on Wednesday that some of its mining equipment isn't making enough cash to cover related debt-financing obligations. The firm said $103 million of debt is secured against the rigs via a couple of wholly-owned special purpose vehicles. It doesn't plan to provide further financial support for the vehicles absent a refinancing agreement. That means a default on the loans looms on Nov. 8 when a scheduled principal payment is lik...
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MicroStrategy Posts Quarterly Loss After Revenue Decline Despite Bitcoin Reversing Declines
2Nov By adminNo Comments
Technology

MicroStrategy Posts Quarterly Loss After Revenue Decline Despite Bitcoin Reversing Declines

[ad_1] MicroStrategy Inc. posted a loss in the third-quarter after revenue fell despite Bitcoin reversing months of declines . MicroStrategy Inc. posted a loss in the third-quarter after revenue fell despite Bitcoin reversing months of declines during the most recent three-month period. The net loss for the quarter ended Sept. 30 was $27.1 million, compared with $36.1 million in the year-ago period. It had a $1.1 billion loss in the second quarter. Revenue fell 2.1% to $125.4 million as product licenses revenue dropped. The enterprise software-maker, which has been buying Bitcoin in bulk since 2020 as a hedge against inflation, has been forced to take massive writedowns this year due to the drop in value of the digital currency. Bitcoin fell almost 60% in the first half of the ye...
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Bitcoin’s Hold Above $20,000 Gives Bulls Hope for Lasting Rally
29Oct By adminNo Comments
Technology

Bitcoin’s Hold Above $20,000 Gives Bulls Hope for Lasting Rally

[ad_1] Bitcoin’s four-day streak above $20,000 has invigorated crypto traders as they bet the token is due for a resurgence after a brutal year. Bitcoin's four-day streak above $20,000 has invigorated crypto traders as they bet the token is due for a resurgence after a brutal year. On Tuesday, the largest cryptocurrency by market value advanced above $20,000, and as of Friday morning in New York it had yet to fall below that threshold. The breakout marked the end of a nearly three-week slump that saw Bitcoin trading below the key level for the longest stretch since late 2020. Other cryptocurrencies staged their own comebacks. For the past few days, Ether has traded at or slightly above $1,500 after spending much of the month closer to $1,300. Meanwhile, Dogecoin has surged around 40% ...
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Cryptoverse: British pound fiasco boosts Bitcoin’s hedge appeal
25Oct By adminNo Comments
Technology

Cryptoverse: British pound fiasco boosts Bitcoin’s hedge appeal

[ad_1] As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin. As a developed nation, you know your currency's in a spot of bother when investors start to hedge with bitcoin.After Britain's brief Prime Minister Liz Truss unleashed her mini-budget on Sept. 23, filling financial markets with dread, a section of investors stampeded away from the pound and towards the cryptocurrency. Trading volumes between bitcoin and the pound jumped 233% in September overall from the month before, according to data from research firm CryptoCompare, while trading between the cryptocurrency and a similarly battered euro also jumped 68%. "It was the first time we've seen such a huge increase in (bitcoin) volumes for the currency of a developed countr...
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