BITCOIN

The New York State Department of Environmental Conservation (NYSDEC) has delayed its decision whether it will allow crypto mining firm Greenidge Generation to continue to use its power plant in the town of Dresden for bitcoin mining, according to a recent report from Bloomberg. The decision by the state’s Department of Environmental Conservation will now come by the end of March. Related Reading | Why Bitcoin Could Hit $90K By The End Of 2022, According To This Prediction New York & The Environmental Debate The decision is now expected to come by March 31, two months later than originally planned, the report said. The delay will reportedly help NYSDEC complete its review with public comments, citing a spokesperson’s position on the matter. On December 2, U.S. Sen. Elizabeth Warren (D-Mass.) questioned the environmental footprint of Greenidge Generation’s (GREE) bitcoin mining operation in New York in a detailed letter. The senator later targeted six more crypto miners, question

Crypto asset management firm Valkyrie will have a new exchange-traded fund (ETF) listed on the Nasdaq this week. The stock exchange will be listing Valkyrie’s new ‘Bitcoin Mining ETF,’ an investment vehicle that will supply assets that provide exposure to company securities “deriving at least 50% of their revenue or profits” from Bitcoin or crypto mining, or hardware and software related to crypto mining. Valkyrie… Going To Make It? Spot Bitcoin and crypto ETFs are yet to hit the market in the U.S., hampered by the SEC’s timid approach on accepting such ETFs. However, in recent months, the SEC has finally become warm to the idea of future’s ETFs, starting with the ProShares ETF and VanEck Bitcoin ETF. Last October was indeed a monumental month for publicly-traded markets and crypto, with Valkyrie joining the likes of ProShares, Invesco, and several other investment firms that sought out crypto-focused ETF offerings. Valkyrie’s latest ETF, ‘WGMI’ (an homage to famed crypto phrase, “we

A U.S. senator has warned about China’s central bank digital currency. “Analysts have raised the eCNY’s potential to subvert U.S. sanctions, facilitate illicit money flows, enhance China’s surveillance capabilities, and provide Beijing with ‘first mover’ advantages,” the senator informed Treasury Secretary Janet Yellen. U.S. Senator Warns About the Threat From China’s Central Bank Digital Currency U.S. Senator Pat Toomey sent a letter to Treasury Secretary Janet Yellen and Secretary of State Tony Blinken last week raising concerns about China’s central bank digital currency, the digital yuan. “I write to request your engagement on a momentous development in Beijing this week: the rollout of the world’s first major central bank digital currency (CBDC) to a foreign audience,” he told Yellen and Blinken. “While the United States is still evaluating the concept of a digital dollar, China is using the Beijing Winter Olympics as an international test for the digital yuan (eCNY), which h

KPMG in Canada has added bitcoin and ether to its corporate treasury in what the company called a “first-of-its-kind investment.” KPMG said: “This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.” Bitcoin and Ether on Balance Sheet of KPMG in Canada KPMG in Canada announced Monday the company’s “first-of-its-kind investment.” KPMG is one of the Big Four accounting firms. The announcement details: KPMG in Canada has completed an allocation of crypto assets to its corporate treasury, the firm’s first direct investment in crypto assets. “The allocation includes bitcoin ( BTC ) and ethereum ( ETH ), as well as carbon offsets to maintain a net-zero carbon transaction to deliver on the firm’s stated environmental, social and governance (ESG) commitments,” KPMG detailed. The accounting firm acquired bitcoin and ether on its balance sheet through Gemini Trust Company L

At the time of writing, Cardano looks promising on its charts. ADA had broken over the $1.10 mark yesterday and was currently priced at $1.20. The $1.10 mark for ADA had acted as a long-standing resistance mark for the coin. The break above the aforementioned level could push ADA to trade above the $1.20 mark over the upcoming trading sessions. The bullish force in the market seems to have propelled the prices of Cardano significantly. In the last 24 hours itself, ADA’s price grew by 6%. Continued trading above the $1.20 mark would help the bulls to breach the immediate resistance of $1.28. Breaking above the $1.28 mark, and Cardano could aim for $1.41. Cardano Price Analysis: Four-Hour Chart Image Source: TradingView ADA/USD     Cardano had been trading tightly between the $0.90 and $1 mark for the past couple of weeks. Recent Market-wide appreciation in prices has caused ADA to move in a northbound manner. At press time, ADA was seen trading at $1.20 and was eyeing the $1.28 resi

While initially it was just major financial entities — such as PayPal, Square, Microstrategy, amongst many others — dipping their toes into the blockchain scene, now we have players from a host of other realms also making their presence felt across these markets. For example, earlier in 2021, Twitter announced to the world that it was going to allow its users to tip its content creators via the use of several different digital assets (including Bitcoin and Ethereum). Similarly, earlier this year, it came to light that the social media behemoth was fostering its in-house crypto team by onboarding new talent in an effort to bolster its rapidly expanding creator economy as well as explore a host of novel domains including membership tokens, DAOs, and much more Twitter adopts NFTs with the help of QuickNode Staying in line with its crypto-centric vision, Twitter announced recently that it has integrated a non-fungible token (NFT) profile picture feature on its TwitterBlue platform, a sub

  Cryptocurrency prices are plummeting. According to one estimate, crypto assets have lost around $1.35 trillion ($1.9 trillion) in value since November, with some crypto price crashing by as much as 80%. Many investors are in a tight spot. The good news is that world economy isn’t poorer. As a result, there won’t be much of an economic response to the new prices. Crypto Price Fall Dominates Headline The recent crypto news has been dominated by the price collapse of numerous major currencies.   Since November, the price of bitcoin has been dropping. The price of cryptocurrencies has also dropped in the last week, according to reports, due to new US regulations on digital assets. Bitcoin’s price dropped from $69,000 in November to $32,951 last week.     Ethereum’s price has plummeted to roughly $2,400, down from nearly $5,000 at the end of 2021. Top cryptocurrencies like XRP, Solana, BNB, and Cardano have had their value plummet by up to 30%. The big crypto meltdown of 2022 w

  Bitcoin is attempting an upside break above the $38,800 resistance zone against the US Dollar. BTC could rally further unless it fails to stay above $37,400. Bitcoin started a fresh increase and was able to clear the $38,000 resistance zone. The price is now trading above $37,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if there is a clear move above the $38,800 resistance zone. Bitcoin Price Starts Fresh Increase Bitcoin price corrected lower below the $38,000 pivot level. BTC even traded below $37,000, but the bulls were active near the $37,650. A low was formed near $36,667 and the price started a fresh increase. There was a clear move above the $37,500 resistance zone and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $37

  Ethereum started a steady increase above the $2,650 resistance against the US Dollar. ETH price could rise further if there is a clear move above the $2,800 level. Ethereum gained pace above the $2,600 and $2,650 resistance levels. The price is still trading above $2,650 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $2,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend increase if it surpasses the $2,800 resistance zone. Ethereum Price Gains Momentum Ethereum remained well bid near the $2,500 level. As a result, ETH started a steady increase above the $2,600 resistance zone, similar to bitcoin. The bulls pumped the price above the $2,650 barrier and the 100 hourly simple moving average. The upward move was such that the price even moved above the $2,700 level. A high is formed near $2,766 and ether price is now consolidating gains. It is trading well above the 23.6% Fib retracement level

  Ethereum price has rallied to $2,800, which is the next significant important resistance level. Ethereum’s price has risen by 30 percent from hitting a low of $2,160 barely a week ago. Ethereum Price Targets $3k In the last five days, ETH has closed in the green, reaching the important resistance level of $2,805. (20-day moving average line). Price is currently stabilizing slightly below this critical level, in preparation for a new effort to break above if the bullish sentiment persists. If successful, ETH would be well on its way to reaching $3,000 in no time. On the other hand, the $2,550 support level has held up well after yesterday’s retest (confirmed as support).     Given that the indicators have turned bullish, ETH is well-positioned to break through the important resistance level of $2,800. ETH has a bullish bias at the moment. The critical resistance levels of $2800 and $3,000 will define the price movement for the rest of the week, so investors should keep

  The Bitfinex hack had been one of the most popular hacks when it occurred. At that point, bitcoin was still in its very early stages and was still reeling from the Mt Gox shutdown even years later. When the hack occurred, the attackers had made off with 119,756 BTC successfully. They had moved out of the stash gradually over time but recently, the biggest move from the hackers came when they moved $3.8 billion worth of bitcoin. Hackers Move 10,000 BTC The Bitfinex hackers have moved 10,000 BTC from a stash that has been there since 2016. There have been BTC moved from the wallets previously but this qualifies as the highest in terms of dollar value that have left the account.     This move was reported by Whale Alert , a bot that tracks transactions on the blockchain and reports when large transactions are triggered. The total value of the bitcoin that the Bitfinex attackers moved came out to be almost $4 billion. As for the rest of the stash, the bitcoins still rema

  Bitcoin has seen more greens in the last day as it climbs its way back above $39,000. As of press time, BTC’s price was rejected at those levels, but the bulls are showing some conviction and could push further into previous highs.     The first crypto by market cap, at the time of writing, is exchanging hands at a price of $38,654 with a 4.2% profit in 24-hours.     In the short term, bulls seem to have the upper hand as market conditions are favorable of a short squeeze. As NewsBTC reported yesterday, the macro-economic factors pushing down Bitcoin will abate for the coming weeks potentially aiding a relief rally into mid-March. In a recent report, Glassnode identifies a shift in bias from market participants from a majority of long positions during Q4, 2021, to mostly short in January 2022. Despite the recent downtrend, the Open Interest (OI) across the Futures sectors has increased and sits at a nearly two-year high. Glassnode claims the Futures sector has been seeing

  On-chain data shows that the Bitcoin supply on exchanges has continued to go down despite the crash, and has now hit a multi-year low of 13.27%. Percentage of Bitcoin Supply On Exchanges Sinks To Multi-Year Low As per the latest weekly report from Glassnode , the percentage of the BTC supply on exchanges has now declined to a multi-year low of around 13.27%. The “percentage of supply on exchanges” is an indicator that measures the percent of the total circulating Bitcoin supply that’s currently stored in exchange wallets.     When the value of this indictor goes up, it means the amount of coins held by exchanges is going up. This trend can be bearish for the price of the crypto as investors usually deposit their BTC to exchanges for selling purposes. On the other hand, when the metric moves down, it implies holders are withdrawing their coins from exchanges, thus reducing their reserve. Such a trend may be bullish for Bitcoin as the supply on exchanges is usually consider

  Goldman Sachs’s words have been interpreted as a sign that the cryptocurrency craze may be coming to an end. The analysts at this global banking powerhouse say they don’t see mainstream adoption boosting the crypto industry soon. Unfortunately, that means bad news for those who bought bitcoin or other crypto assets on hope chests full-force optimism about its value increases exponentially over time. Cryptocurrencies are becoming more and more popular as the adoption rate for Bitcoin increases. The strategists tell Bloomberg that correlation has started to occur with other macro assets such as crude oil, technology stocks, US dollar – all of which have seen significant growth recently too. Diverse asset classes have often been seen as a way to diversify your investments. However, according to analysts, this may not be true for crypto assets due to their high correlation with traditional markets. Making them uniquely susceptible during economic downturns or periods wher

  The number of Ethereum small-time holders is on the rise. With each passing month, as more investors move into the market, ethereum has snatched some of the largest market shares. This is evidenced in the growth rate of the network, as well as the amount of ETH being held by investors on their balances. This time around, the number of ETH small-time holders has hit a new record. Holders Holding More Than 0.1 ETH At ATH Glassnode reported on Monday that the number of small-time Ethereum investors holding more than 0.1 ETH on their balances had touched a new high. This easily follows the trend of adoption that the ethereum network has seen in recent times. These small-time holders clocked in at a new high of 6,823,620 on Monday.   Although the growing adoption of the network is billed as one of the major driving factors behind this, it is can also be a result of the growing gas fees on the network. For one, ethereum transaction fees can run above $100 on bad network con

  Ethereum rides ahead on the crypto market’s most recent trend to the upside. As of press time, ETH, BTC, and larger cryptocurrencies show signs of recovery with potential for continuation in the short term, if they manage to break above their resistance levels.     As of press time, Ethereum (ETH) trades at $2,788 with a 6.5% profit in the last 24 hours.     Data from Arcane Research indicates that Ethereum has seen its seventh 50% drawdown since its inception. The second crypto by market cap dropped to a yearly low of $2,200 which represents a 55% decrease from its high at $4,812. During the crypto market most recent downside trend, ETH lost a total of over $280 billion in market cap which represents its biggest decline on this metric since its launched. By taking ETH’s price as a proxy, it is possible to conclude the altcoin market as a whole suffered deeply in the past two months. In that sense, Arcane Research determined that this bearish price action to its yearly l

  Bitcoin and the crypto market at large had suffered outflows that coincided with the massive sell-offs that rocked the market. This contributed to the downtrend that saw bitcoin touch towards six-month lows while investors who had gotten into the market later suffered massive losses. This outflow trend is beginning to reverse so as bitcoin and other digital assets begin to record inflows after a long drought. Bitcoin Inflows Back Up The past week for bitcoin has been an encouraging one. The digital asset is nowhere near its previous highs but had managed to recover from its recent lows. It had run up to $38,000 once again, reinstating some level of faith back in the market. On the institutional investors’ side, this trend, albeit a bit slower, is the same as investors begin to gradually move back into the cryptocurrency.   In the latest CoinShares report , we see that bitcoin has begun to record market inflows once more. This is a deviation from the end of 2021 and the

  Is this the calm before the storm? Bitcoin volatility is seldom this steady. After a tumultuous downturn that had the whole market upside down, bitcoin’s fiat price is relatively flat. Everyone can breathe and rest, for a while at least. What does this mean and how long will it last, though? That’s what we’re here to explore.  It’s no secret that the market was expecting a hike in the interest rates, and thus people were selling risky assets. However, the powers that be postponed the increase, and, well, the market calmed down. During this downturn, though, Bitcoin proved once again that the market considers it the least risky asset in the cryptocurrency space. Everyone bled, but Bitcoin considerably less so.   In any case, back to volatility, Arcane Research’s The Weekly Update has the scoop:  “Bitcoin’s 7-day volatility is now at the lowest level since November 2020. Together with the trading volume, the volatility exploded last week when bitcoin dropped below $40,0

  Bitcoin has outperformed all crypto Market Cap-Weighted Indexes in January as traders turn to less risky assets amidst fear over the Federal Reserve tightening, thus the king of digital assets claims its position as crypto’s safe heaven.     Bitcoin As a Crypto Safe Haven The thought of Bitcoin (BTC) being a safe haven asset is quite popular, but it opposes the critics who claim BTC –and all crypto assets–  is too risky, volatile, and speculative to become a safe haven. However, inside the crypto market it remains the less risky asset.       January was a very volatile month for the crypto market amidst the investors fear over The Federal Reserve (FED) hawkish moves, but an Arcane Research report shed light on how Bitcoin outperformed the other crypto indexes in the market during the bloodshed, thus maintaining its image as the less risky crypto asset to investors, especially during times of high volatility and uncertainty. As traders take a more conservative position a

  Bitcoin started rising with the news El Salvador rejected the IMF request to drain BTC as a currency. In response, Bitcoin grew to a 14-day high price level, adding more than a quarter trillion US dollars into the crypto market. Price tendency follows the pathetic month for cryptocurrency since March 2020. At that time, Bitcoin reached a price level of $5,000 due to panic selling off after the Covid-19 pandemic threat. After that, Bitcoin raised and achieved its all-time high price level of $69,000 in November 2021.  But soon after that, Bitcoin started a downward journey, coming to the seven-month low of $33,000 on January 24 , 2022. However, on the same day, Bitcoin began an upward trend and gradually achieved a price level of $39,000 on Tuesday, February 01, 2022, showing positive crypto market growth. 5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!         Bitcoin price retrieval started after El S

  Solana was on rebound as the coin was seen trading above the $100 mark. At the time of writing, Solana was exchanging hands at $107.82. This token’s recovery came right after Phantom, Solana’s native wallet concluded a successful fundraising round. In recent times, as the cryptocurrency market experienced a major-sell off, Solana too hovered in the oversold zone. The bulls have resurfaced and technical outlook reflected a positive change at the time of writing. Over the last 24 hours, SOL gained close to 17%. Over the last week, SOL was trading between $84.43 and $102.27 levels respectively. The recent bullish force propelled prices to finally trade over the resistance mark of $102.27.   Solana’s prices moved above the 20-SMA line, which meant that buyers drove the price momentum in the market. According to the technicals on the four-hour chart, indicators flashed buy signal for the coin. Trading volume of SOL also noted a major appreciation which was indicative of in

  After reaching its biggest market capitalization dominance since November 2021 last week, Bitcoin is regaining market share from altcoins. The pioneer momentarily accounted for almost 42% of the global crypto market cap in late January, according to CoinMarketCap data. Bitcoin Dominate Alt coins Since its inception, Bitcoin has been the most popular cryptocurrency. Its domination was unequaled for a long time, as the digital coin’s performance influenced the market’s outcome, bringing altcoins along for the ride in either win or loss scenarios.   The influx of new altcoins into the crypto market, all with the goal of dethroning Bitcoin, threw its supremacy into disarray as a slew of altcoins fought for a piece of the pie, ranging from ethereum to dogecoin.   Despite the fact that Bitcoin has been in the red for the majority of the month, its portion of the $1.68 trillion crypto market has increased to around 42%, up from 39% two weeks ago. Bitcoin’s market capitalizatio

  Bitcoin extended increase above the $38,800 resistance zone against the US Dollar. BTC is now struggling near $39,200 and might correct a few points. Bitcoin started a fresh increase and was able to clear the $38,500 resistance zone. The price is now trading above $38,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $37,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it stays above the $37,500 support zone in the near term. Bitcoin Price Consolidates Bitcoin price remained strong above the $37,500 pivot level. BTC extended increase and was able to clear the $38,500 resistance zone . The price even spiked above the $39,000 level and settled above the 100 hourly simple moving average . A high is formed near the $39,290 level and the price is now consolidating gains. There was a minor decline below the $38,800 level.   Bitcoin traded below the 23.6% Fib retracement l