Tag Archives: Bitcoin

Bitcoin Leads Price Sell-Off Across Crypto Markets as Biden Tax Plan Bites

Bitcoin Leads Price Sell-Off Across Crypto Markets as Biden Tax Plan Bites

Bitcoin falls as Biden’s plan to raise capital gains tax hurts risk appetite. Bitcoin slipped on Friday as reports of U.S. President Joe Biden mulling a tax hike on wealthy Americans drew stronger selling pressure in the spot market. The biggest cryptocurrency traded well below the 100-day simple moving average support of $49,470 during the […]

Bitcoin Consolidates Below $56K Resistance as Buyers Lose Strength

Bitcoin Consolidates Below $56K Resistance as Buyers Lose Strength

BTC has remained in a consolidation phase since February. Bitcoin (BTC) is holding short-term support and was trading around $54,000 at press time. The cryptocurrency is now below the 50-day moving average as upside momentum continues to slow. Buyers will need to defend support around $51,000 to stabilize the long-term uptrend. The relative strength index […]

Bitcoin, Ether Hit New All-Time Highs on Eve of Coinbase Listing

Bitcoin, Ether Hit New All-Time Highs on Eve of Coinbase Listing

Bitcoin and ether (ETH, +6.17%), the two biggest cryptocurrencies, surged to new all-time high prices on Tuesday, the day before the highly anticipated Coinbase listing on Nasdaq. Prices for bitcoin (BTC, +4.35%) (BTC), the oldest cryptocurrency and the largest by market value, rose 6% on the day, reaching as high as $63,661 around 15:40 coordinated universal time (11:40 a.m. ET), […]

Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Crypto Long & Short: Peter Thiel Defines Bitcoin’s Accidental Role in Global Politics

Thiel’s comments about China “weaponizing” bitcoin to hurt the U.S. are a warning about the cost of inaction. The battle over bitcoin’s evolving role just became a piece in a complex game of political strategy. Peter Thiel’s talk earlier this week at a Richard Nixon Foundation event thrust the cryptocurrency even further out onto the geopolitical stage […]

Riding Bitcoin Surge, Coinbase Active Users Grew by 117% in Q1 2021; Revenue Tops $1.8B

Riding Bitcoin Surge, Coinbase Active Users Grew by 117% in Q1 2021; Revenue Tops $1.8B

Cryptocurrency exchange Coinbase saw a whopping 117% quarter-over-quarter increase in monthly transacting users, the firm revealed Tuesday in its voluntary earnings report. All those users helped Coinbase rake in $1.8 billion over the quarter, driving a net income of approximately $730 million to $800 million, according to a new filing that comes ahead of the company’s Nasdaq listing next week. […]

PayPal Pushes Crypto Further Mainstream With Checkout Service for 29M Merchants

PayPal Pushes Crypto Further Mainstream With Checkout Service for 29M Merchants

The move could speed the use of crypto in day-to-day commerce. PayPal, which last year added the ability to buy, hold and sell cryptocurrency, is pushing it as a payment method across the 29 million or so online merchants connected to the fintech giant. Announced Tuesday, PayPal’s Checkout will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) to be seamlessly […]

Bitcoin Gains Ahead of $6B Options Expiry After Market Finds $50K Floor

Bitcoin Gains Ahead of $6B Options Expiry After Market Finds $50K Floor

BTC held support around $50K and is approaching resistance around $56K. Bitcoin rose for the first time in three days as traders looked past Friday’s record $6 billion expiration of option contracts to a stronger market next week as April begins. “Returns after prior bitcoin options expiration dates have tended to be positive,” David Grider, strategist at Fundstrat, […]

Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April

Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April

Theoretically, the $80,000 call represents a bet that bitcoin would settle above that level on April 30. Some bitcoin options traders are betting this year’s price rally, which paused in recent weeks, will resume in April – historically a strong month for the market. Among options listed on the dominant Deribit exchange with an April […]

Bitcoin Traders Brace for Record $6B in Options to Expire Friday

Bitcoin Traders Brace for Record $6B in Options to Expire Friday

The record bitcoin options expiry could be bearish overhang on the market. They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most. Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record […]

Bitcoin Rises Despite Dollar Strength as Elon Musk Adds BTC Payment Option

Bitcoin Rises Despite Dollar Strength as Elon Musk Adds BTC Payment Option

Tesla accepting bitcoin payments and running its own nodes is “massively bullish,” according to one analyst. Bitcoin (BTC) jumped early Wednesday after the Tesla CEO Elon Musk said the electric vehicle maker is now accepting the cryptocurrency as a payment option. Musk’s Twitter announcement overshadowed the dollar’s strength, helping the cryptocurrency stay bid. “You can now […]