Crypto job postings drop nearly 60% in December 2023 despite recent bitcoin rally

6Jan

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Technology

Crypto job postings drop nearly 60% in December 2023 despite recent bitcoin rally

Hiring in crypto isn't heating up as fast as the recent rally the space has seen on expectations of an imminent approval of a US exchange-traded fund investing directly into Bitcoin. Crypto job postings on LinkedIn declined 57% year-over-year in December, less than the 71% year-over-year drop in November, according to the professional networking site. Between November and the end of the year, Bitcoin's price rose 57%, according to data compiled by Bloomberg. At jobs board CryptocurrencyJobs.co, which charges for job posts, December was one of the best months of 2023 in revenue, said Daniel Adler, the website's founder. We are now on WhatsApp. Click to join. For much of 2023, layoffs abounded, with companies like Gemini Trust and Binance.US shedding staff amid a regulatory crackdown,...

22Apr

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Technology

A Closer Look at Bitcoin’s Rally Suggests the Depth of Demand Is Deceptive

Crypto trading volumes seem to have surged last quarter as token prices spiked higher. But looking at the data more closely paints a different picture.When looking at overall trends, Bitcoin trade volumes seem to have spiked, with two trading pairs standing out during that stretch — Bitcoin-Tether and Bitcoin-BUSD, a relatively little-known stablecoin trading on the Binance platform that has since halted issuance, according to crypto market data provider Kaiko. Those two were the top-traded duos on that exchange in the first three months of the year. But isolating just the Bitcoin-dollar trade pair — which trades on exchanges like Coinbase and Gemini — shows volume was the lowest since 2020, the researcher said. During that time, regulators cracked down on the industry with a number of...

1Mar

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Technology

Bitcoin Rally Is Much-Needed Lifeline for Troubled Miners After Grim Quarter

Bitcoin's new year rally is resuscitating many crypto-mining companies seeking to escape from near financial ruin after one of the most devastating quarters ever for the nascent industry. Whether they succeed in making a comeback remains in question.High electricity costs, a plunge in digital assets prices and persistent network competition in the fourth quarter slashed mining profit margins and made it difficult for miners to stay afloat. Core Scientific Inc., the largest public Bitcoin mining company by computing power, went bankrupt and multiple major miners warned of liquidity crunches. While struggling miners have garnered some relief from Bitcoin's 40% rebound this year, they are still under financial pressure. The rise in Bitcoin has made it easier for miners to raise capital f...

7Feb

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Technology

Bitcoin’s Rally Stalls Just Shy of a Trading Signal Last Seen Before the Token’s Record Run

Bitcoin's 2023 rally is stalling after coming tantalizingly close to forming a trading signal last seen when the token was setting records. The coin's near 4% slide in the seven days through Sunday was the largest weekly drop since November, paring its year-to-date gain to 39%. Bitcoin remains on the cusp of a golden cross, where the 50-day average price tops the 200-day. This pattern occurred before bull runs in 2020 and 2021. “Most instances of a golden cross have resulted in favorable returns for Bitcoin, and many have occurred at critical long-term inflection points,” Sean Farrell, Fundstrat Global Advisors' digital-asset strategy head, wrote in a note. Over the past five years, Bitcoin rose an average 22% in the 60 days after a golden cro...

29Oct

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Technology

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

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% since ...

14Sep

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Technology

Bitcoin Price Hits Three-Week High Before CPI Data, Ethereum Upgrade

Bitcoin extended a rally amid a brighter mood in global markets and as traders await US inflation data and monitor a seminal upgrade of the Ethereum blockchain. Bitcoin extended a rally amid a brighter mood in global markets and as traders await US inflation data and monitor a seminal upgrade of the Ethereum blockchain. The largest token rose as much as 3.9% on Monday and was trading a little above $22,000 as of 12:20 p.m. in New York. Smaller coins like Solana also pushed higher but Ether lagged. Bitcoin jumped about 10% on Sept. 9, part of a broader embrace of beaten-down assets encouraged by a weaker dollar that hinted at a little less investor fear in a tough year. The greenback continued to slide at the start of th...

12Sep

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Technology

Bitcoin Rally Cools Ahead of CPI Data, Ethereum Network Upgrade

A rally in Bitcoin is cooling as traders await US inflation data and monitor a seminal upgrade of the Ethereum blockchain, events that could stir volatility in cryptocurrency markets. A rally in Bitcoin is cooling as traders await US inflation data and monitor a seminal upgrade of the Ethereum blockchain, events that could stir volatility in cryptocurrency markets. The largest token rose as much as 3.3% on Monday, briefly scaling $22,000 before falling back to trade little changed as of 1:16 p.m. in Tokyo. Ether along with smaller coins like Cardano and Solana were on the back foot. Higher-than-expected US inflation on Tuesday could harden expectations for restrictive monetary settings that are anathema for crypto price...