Bitcoin Magazine

26 Jun 2024 19:55

💰 Core Scientific to increase CoreWeave infrastructure access to 270 MW

Bitcoin mining firm Core Scientific updated its agreement with AI hyperscaler CoreWeave to provide the latter with 270 megawatts (MW) of total infrastructure access, according to a June 25 press release. Core Scientific said that CoreWeave exercised its first option to contract for an additional 70 MW of infrastructure access, expanding the earlier 12-year agreement for 200 MW of high-performance computing (HPC) hosting contracts from June 3.

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Bitcoin Magazine

26 Jun 2024 07:45

💰 Bitcoin miner Core Scientific says CoreWeave exercising option for 70 MW of additional infrastructure

Core Scientific has announced it will supply an additional 70 MW to host CoreWeave’s high-computing operations. "Under the terms of today’s announced agreement, Core Scientific will modify a total of 100 MW of its owned infrastructure to deliver approximately 70 MW to host CoreWeave’s NVIDIA GPUs for [high-performance computing] operations," the company said in a statement on Tuesday.

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Bitcoin Magazine

25 Jun 2024 09:45

💰 Trump may be headed to Nashville to speak at Bitcoin 2024: Axios

Former President Donald Trump might be headed to Nashville to speak at Bitcoin 2024 later in July, according to a report from Axios. Trump is in talks to speak at the event, according to Axios, which cited two people familiar with the matter on Monday. Other politicians will also speak at Bitcoin 2024, including presidential candidate Robert F. Kennedy Jr., former candidate for president Vivek Ramaswamy and Republican Sens. Bill Hagerty and Marsha Blackburn.

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Bitcoin Magazine

24 Jun 2024 18:20

💰 Crypto Markets Shed $70 Billion Overnight as Bitcoin Fell to 6-Week Lows (Market Watch)

The relatively quiet weekend ended with BTC struggling to remain above $64,000, but Monday started with a massive price dump to a 6-week low of $62,000. Last week didn’t go well for the primary cryptocurrency as the ETF outflows skyrocketed. The underlying asset went from a weekly peak of over $67,000 to a multi-week low of $63,500 on Friday. Compared to the previous week, the losses were even more violent as BTC had tapped $70,000 on a few occasions back then.

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Bitcoin Magazine

24 Jun 2024 07:30

💰 Twitter founder Jack Dorsey gives presentation in Italy on how Bitcoin is permission-less freedom money 🇮🇹

“It could potentially be a compliment or replace the US dollar, which rules everything.”

- Jack Dorsey

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Bitcoin Magazine

23 Jun 2024 18:35

💰 Bitcoin Price Prediction: Analyst Defies Bearish Bias, Says Next Impulse Could Target $100K

Bitcoin’s price is currently struggling, but some analysts remain optimistic. It’s safe to say that Bitcoin’s price has seen better days. Just a couple of days ago, it dropped to a low of around $63,400 – a point that was last observed about a month ago. The well-known crypto analyst with 400,000 followers on X took to the social media platform yesterday to share his thoughts on Bitcoin’s price.

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Bitcoin Magazine

22 Jun 2024 07:45

💰 Bitcoin liquidations spike as price drops below the $64,000

Bitcoin long liquidations have spiked to over $27 million in the past day after a price correction saw the largest digital asset by market hover around $63,600. In the past 24 hours, $33.85 million in bitcoin positions were liquidated, and over $132 million in the wider cryptocurrency market was liquidated in the same period. Of these combined crypto liquidations, the vast majority — around $105 million — were long positions, according to Coinglass data.

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Bitcoin Magazine

20 Jun 2024 09:31

💰 Bitcoin Whales Sold Over $1B BTC in Past Two Weeks: CryptoQuant

Long-term bitcoin holders and miners were among the biggest sellers of the asset in the past two weeks and show few signs of renewed demand, on-chain analysis firm CryptoQuant said in a Wednesday report shared with CoinDesk. Wallets tracked by CryptoQuant show whales – a colloquial term for large holders of any token – sold over $1.2 billion worth of BTC in the past two weeks, likely using brokers instead of on the open market.

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Bitcoin Magazine

19 Jun 2024 06:44

💰 Bitcoin long-term holders’ supply in profit holds above 14 million BTC

Bitcoin’s long-term holders demonstrate resilience with a significant portion of the total supply in profit, even amidst price fluctuations. This trend suggests strong market confidence, as long-term holders tend to maintain their positions regardless of short-term market volatility. Recent data from Glassnode shows that the total supply of profit held by long-term holders has seen a steady increase, signaling robust market confidence.

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Bitcoin Magazine

18 Jun 2024 07:44

💰 Financial Advisors Wary of Investing in Spot Bitcoin ETFs, BlackRock Exec Says

Cohen cites Bitcoin’s volatility and the nascent stage of spot ETFs as key reasons for financial advisors’ skepticism. BlackRock’s chief investment officer for index investments, Samara Cohen, recently implied that amidst the recent success of spot Bitcoin exchange-traded funds, financial investors still exercise some degree of caution when investing. The volatility and infancy of Bitcoin and related exchange-traded funds are the primary drivers behind this investment class’s slow adoption.

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Bitcoin Magazine

17 Jun 2024 09:35

💰 Bitcoin Miners Are Selling Again: CryptoQuant

Bitcoin (BTC) has fallen 4.5% in the past seven days, going to a monthly low of $65,000. This plunge in the digital asset’s value could be linked to increased selling from mining entities. In the latest CryptoQuant weekly report, analysts revealed that the number of BTC sent from Bitcoin mining entities to exchanges has reached a two-month high amid a decline in their revenues due to lower transaction fees.

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Bitcoin Magazine

16 Jun 2024 10:10

💰 NiceHash and Marathon partner to launch new firmware for miners

NiceHash, a leading Bitcoin hashing power marketplace, has partnered with Marathon Digital Holdings to introduce new custom firmware for ASIC miners on its platform. The new product, NiceHash Firmware, will leverage Marathon’s technology to enhance the efficiency and revenue of Bitcoin miners using ASIC devices. Miners who adopt this firmware will benefit from a low fee of 2%, which drops to 1.4% if they use NiceHash as their primary mining pool.

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Bitcoin Magazine

15 Jun 2024 09:31

💰 Brazil, Germany, and Turkey have seen a surge in Bitcoin searches, at times even surpassing the USA

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Bitcoin Magazine

13 Jun 2024 19:40

💰 MicroStrategy issues $500M in convertible notes to buy more Bitcoin

MicroStrategy is set to offer $500 million in convertible senior notes due in 2032 to finance more Bitcoin acquisitions. This private offering targets qualified institutional buyers and seeks to bolster the company’s resources amid volatile market environments. As of June 13, MicroStrategy holds more than 1% of BTC’s circulating supply, equivalent to 214,400 BTC, valued at approximately $15 billion.

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Bitcoin Magazine

12 Jun 2024 19:45

💰 Bitcoin ETF outflows hit $200 million ahead of FOMC meeting

US spot Bitcoin exchange-traded funds (ETFs) experienced a second straight day of outflows for the second day this week after ending their 19-day inflow streak on June 10. Grayscale’s GBTC led the outflows with $121 million, raising its total outflows to $18.03 billion. Ark Invest’s ARKB followed with nearly $57 million in net outflows. Bitwise’s BITB reported approximately $12 million in outflows, while Fidelity and VanEck saw smaller net outflows of $7.4 million and $3.8 million, respectively.

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Bitcoin Magazine

26 Jun 2024 10:28

🥇 What happens to #Bitcoin when Michael Dell announces he's bought it, he's not ashamed of it and Dell Computers is going to buy more? All models get destroyed 🚀

🤝 @Cryptocurrency_Inside ✅
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Bitcoin Magazine

25 Jun 2024 18:40

💰 Bitwise CIO predicts spot Ethereum ETFs will attract $15 billion of net inflows in 18 months

Bitwise CIO Matt Hougan predicted that spot Ethereum exchange-traded funds will attract $15 billion of net inflows in their first 18 months, once launched in the U.S. The U.S. Securities and Exchange Commission approved 19b-4 forms for eight spot Ethereum ETFs from firms like Bitwise, BlackRock and Fidelity on May 23. However, the issuers still need to have their S-1 registration statements become effective before trading can begin. This is expected to happen in the next few weeks.

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Bitcoin Magazine

25 Jun 2024 07:52

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Bitcoin Magazine

24 Jun 2024 11:43

💡💡💡: 🥇 Mt Gox to start Bitcoin repayments - Bloomberg

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Bitcoin Magazine

23 Jun 2024 19:08

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Bitcoin Magazine

22 Jun 2024 21:50

💰 Bitcoin dips below short-term holder realized price, sparking $60K fears

Bitcoin recently fell below $64,000, breaking its short-term holder realized price and signaling a possible further decline to levels unseen in 49 days, according to cryptocurrency analysis firm CryptoQuant. “Bitcoin is trading below the critical support level of $65.8K, now below $64K,” CryptoQuant wrote in a June 21 X post. On June 22, Bitcoin’s recent decline saw it drop 2% to $63,442, falling below the short-term holder realized price (STH-RP) at the time, which was $64,230, according to LookIntoBitcoin data.

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Bitcoin Magazine

21 Jun 2024 07:50

🥇 MicroStrategy buys additional 11,931 bitcoin for $786 million

Business intelligence firm and corporate bitcoin holder MicroStrategy acquired an additional 11,931 for approximately $786 million at an average price of $65,883 per bitcoin between April 27 and June 19, according to a filing on Thursday. The company now holds 226,331 BTC, worth roughly $14.9 billion. MicroStrategy’s total holdings were bought at an average price of $36,798 per bitcoin, a cost of around $8.33 billion, inclusive of fees and expenses, according to the company's founder and executive chairman Michael Saylor.

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Bitcoin Magazine

19 Jun 2024 20:35

🥇 Bernstein predicts spot Bitcoin ETFs near approval at major wirehouses; maintains $200,000 target by 2025 end

While bitcoin bears argue the spot Bitcoin exchange-traded fund trade is “done,” they are missing two key factors, according to analysts at research and brokerage firm Bernstein. Arguments against the Bitcoin ETF trade revolve around early allocations being driven by retail investors, with institutional involvement confined to the basis “cash and carry” trade rather than net long positions, meaning the ETF flows are not “real,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.

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Bitcoin Magazine

18 Jun 2024 19:09

💰 US-listed Bitcoin miners hit record $22.8 billion market cap amid stock surge

Publically traded Bitcoin mining companies in the US briefly reached a combined market cap of $22.8 billion on June 15 amid a surge in their stock price during June. According to a recent analysis by JP Morgan, the growth is driven by an increase in network hashrate share and diversification into artificial intelligence (AI) data center ventures.

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Bitcoin Magazine

17 Jun 2024 19:09

💰 U.S.-Listed Bitcoin Miners Reached Record Total Market Cap of $22.8B in June: JPMorgan

The total market cap of the 14 U.S.-listed bitcoin (BTC) miners followed by JPMorgan hit a record high of $22.8 billion on June 15, the Wall Street bank said in a research report on Monday. The bank noted that almost all the companies outperformed bitcoin in the first two weeks of June, with Core Scientific (CORZ) the best performer, adding 117%, and Argo Blockchain (ARBK) the worst, dropping 7%. The world’s largest cryptocurrency fell 3% in the same period.

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Bitcoin Magazine

16 Jun 2024 10:30

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Bitcoin Magazine

15 Jun 2024 20:45

💰 Bernstein analysts raise bitcoin price target to $200,000 by end of 2025

Analysts at research and brokerage firm Bernstein have raised their price target for bitcoin to $200,000 from $150,000 by the end of 2025. The target is driven by expectations of unpreceded demand via spot bitcoin exchange-traded funds run by some of the world’s leading asset managers, such as BlackRock, Fidelity and Franklin Templeton, reaching around $190 billion in assets under management compared to $60 billion today, Gautam Chhugani and Mahika Sapra wrote in a note to clients.

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Bitcoin Magazine

14 Jun 2024 07:00

💰 Traders: Bitcoin price needs “fresh all-time highs” to end pump-and-dump cycles

Bitcoin bears have been selling on every rally over the last few months, and analysts believe that a liquidity boost fueled by BTC’s “fresh all-time highs” will help break the cycle. “Market is in need of a big liquidity boost,” pseudonymous crypto trader Daan Crypto Trades wrote in a June 13 post on the X social media network. The trader’s sentiments appear to have been informed by Bitcoin’s “whipsaw” price action as it consolidates within a wide range, stretching from $66,500 to $72,000.

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Bitcoin Magazine

13 Jun 2024 08:45

💰 Bitcoin’s liquid supply decreasing while illiquid confidence grows

Bitcoin’s liquid and illiquid supplies are very interesting and useful metrics for understanding market trends. Liquid supply refers to the amount of Bitcoin readily available for trading, meaning it is held in wallets that frequently engage in transactions. Highly liquid supply, a subset, denotes Bitcoin that moves even more frequently, often used by traders.

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Bitcoin Magazine

12 Jun 2024 07:01

💰 Bitcoin Open Interest Reaches All-Time High Of $36.3 Billion

Bitcoin futures interest tapped an all-time high in US dollar terms on Monday, reaching over 500,000 BTC worth $36.3 billion. Analysts say the overwhelming surge in open interest relates to a clever arbitrage play levied by institutional traders between Bitcoin’s futures and spot markets. In a Tuesday newsletter, lead Glassnode analyst James Check theorized that leveraged funds are simultaneously shorting Bitcoin on the CME while buying up coins in equal measure via the Bitcoin spot ETFs.

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