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RAYANA ALQUBALI RIYADH: Bitcoin fell below $42,000 on Thursday, testing multi-month lows after minutes from the Federal Reserve's last meeting showed it leaning toward more aggressive policy action, which sapped investor appetite for riskier assets. The world's largest cryptocurrency was last at $42,784, down 7.44 percent, having lost 5.2 percent on Wednesday. A break below
El Salvador's legislature has adopted a bill making Bitcoin legal tender, the first nation to recognize the cryptocurrency as an acceptable form of payment for all debts. "Although enclosed shopping
JPMorgan points to weak Bitcoin futures as signal for bear market Bitcoin futures curve was in backwardation for most of 2018, a year when BTC lost 74% of its value, JPMorgan noted. 10553 Total views News JPMorgan’s cryptocurrency market analysts have pointed to the difference between Bitcoin’s (BTC) spot prices and BTC futures prices as a potential bearish sign for the market. In a Thursday note to clients, JPMorgan analysts led by global market strategist Nikolaos Panigirtzoglou wrote that the Bitcoin market has returned to backwardation — a situation when the spot price is a...
AMC 'meme stock' frenzy may spill over to crypto as Bitcoin metric nears buy zone It could soon be a sea of green for Bitcoin and altcoins, sources argue, thanks to a convergence of data and the sheer power of memes. 10415 Total views Markets News Bitcoin (BTC) is slowly but surely preparing to flash the "buy" signal, a key indicator suggests as a trading frenzy reignites memories of the GameStop debacle. In its latest report from June 3, Stack Funds highlighted the Puell multiple nearing the green "buy" zone — a signal to enter the market. Puell multiple drops to pre-2021 levels
Bitcoin Will Recover, But New Highs Unlikely; Retailers Eye Expansion On 6/3/21 at 4:32 PM EDT CryptoCorner Bitcoin may be poised to move higher, but it won't be a meteoric rise, and any increase will be well below the cryptocurrency's all-time high. The world's leading crypto by market cap has rebounded and traded in a narrow range after falling as much as 50% from its record high last month. However, Bitcoin mining activity suggests a move above $40,000 is possible. "Several on-chain and network indicators have reflected a bullish skew over the week, albeit most being relatively neutral for...