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Bitcoin breaches $50K threshold with technicals back in focus By Bloomberg By Vildana Hajric, Joanna Ossinger Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world's largest cryptocurrency. A fresh bout of selling on Friday drove bitcoin down as much as 7.9% to $47,525 -- below its 100-day moving average -- as it continued to take out key technical levels. Wall Street analysts warn of further losses for the notoriously volatile currency that hit a record high of $64,870 on April 1...

U.S. futures rise after stocks bruised by Biden tax plan Cecile Gutscher and Emily Barrett, Bloomberg News McCreath: Investors not keen on U.S. capital gains proposal VIDEO SIGN OUT Futures rose Friday as investors digested a proposal for higher taxes to pay for President Joe Biden’s fiscal stimulus. The upbeat sentiment signaled the S&P 500 Index may be poised to rebound from the steepest decline in five weeks that followed a Bloomberg News report Biden plans to nearly double the capital gains rate on the wealthy. Treasuries and the dollar dipped. Investors are weighing the impl...

Bitcoin breaches $US50,000 threshold with technicals back in focus Vildana Hajric and Joanna Ossinger Apr 24, 2021 – 5.58am Share Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency. A fresh bout of selling on Friday (Saturday AEST) drove bitcoin down as much as 7.9 per cent to $US47,525 -- below its 100-day moving average -- as it continued to take out key technical levels. Nearing 6am AEST on Saturday, bitcoin was trading at $US50,825 on bitstamp.ne...

Joanna Ossinger, Bloomberg News Signage for the digital yuan, also referred to as E-CNY, at a self check-out counter inside a supermarket in Shenzhen, China, on Friday, Nov. 20, 2020. The People's Bank of China is testing its digital money -- dubbed Digital Currency Electronic Payment, or DCEP -- in select cities, catapulting the world’s No. 2 economy to the forefront of a race to develop virtual money. Photographer: Yan Cong/Bloomberg , Bloomberg (Bloomberg) -- Trouble may be brewing in China for Bitcoin’s raucous and divisive ral...