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Large Investors Building Heavy Short Positions for Bitcoin (BTC): Reports

The Bitcoin (BTC) price is down another 3% on the backdrop of unfavorable global macros and rising inflation. So if you think that this might be the right time to average, you might want to wait a little bit more. Citing data from Datamish, popular crypto reporter Colin Wu reports that large investors, probably institutions,

The post Large Investors Building Heavy Short Positions for Bitcoin (BTC): Reports appeared first on CoinGape.

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Bitcoin’s Exchange Supply Hits Three-Year Low, BTC Crowd Sentiment Turns Positive

Earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) made a brief move above $45,000. However, ever since the Federal Reserve announced the inflation numbers on Thursday, it has been moving sideways. Bitcoin has corrected over 7% from its weekly highs and is currently trading at $42,268 with a market cap of $801 billion. However,

The post Bitcoin’s Exchange Supply Hits Three-Year Low, BTC Crowd Sentiment Turns Positive appeared first on CoinGape.

Bitcoin (BTC) Breaches 50 DMA In A Major Trend Reversal, Lightning Network Capacity At ATH

Over the last weekend, Bitcoin (BTC) has been showing healthy signs of a trend reversal, and well, as of press time, it has moved past its 50-day moving average (DMA). As of press time, Bitcoin is trading 3.05% up at $42,799 with a market cap of $811 billion. This could be the end of the

The post Bitcoin (BTC) Breaches 50 DMA In A Major Trend Reversal, Lightning Network Capacity At ATH appeared first on CoinGape.

Just-In: Belarus Gives Green Signal to Investment Funds for Investing in Crypto

In a major step, the Eastern European country of Belarus has decided that it will let investment funds seek exposure to digital assets. Belarus’ Ministry of Finance for public consultations has published amendments that seek to lure some investment funds. The department said that despite it having the necessary regulatory framework for collective investments, not

The post Just-In: Belarus Gives Green Signal to Investment Funds for Investing in Crypto appeared first on CoinGape.

DeFi Bridge Warmhole Restores $320 Million Worth of Stolen Funds, Here’s What Unfloded

Earlier on Wednesday, February 2, DeFi bridge protocol Warmhole announced that the platform was hacked as hackers managed to steal a staggering 120 wETH worth $320 million. Warmhole is a DeFi blockchain bridge between Ethereum and Solana allowing users to swap SOL for other cryptocurrencies. However, the firm’s leaders have said that they have restored

The post DeFi Bridge Warmhole Restores $320 Million Worth of Stolen Funds, Here’s What Unfloded appeared first on CoinGape.

Just In: Big Relief for Crypto Stakers and Miners, IRS Won’t Tax Unsold Crypto Tokens

Crypto Stakers and miners could finally breathe a major sigh of relief as the IRS has decided not to tax unrealized gains derived from crypto staking or mining digital assets. This has been a major relief as many crypto proponents have been voicing their opinion against these proposed taxes over the last few months. Blockworks’

The post Just In: Big Relief for Crypto Stakers and Miners, IRS Won’t Tax Unsold Crypto Tokens appeared first on CoinGape.

El Salvador’s President says Bitcoin will see a “gigantic price increase” due to its limited supply.

Salvadoran President Nayib Bukele made yet another bullish Bitcoin (BTC) prediction soon after the International Monetary Fund had urged his government to remove Bitcoin’s status as legal tender. Bukele, in a Twitter post on Monday, predicted that Bitcoin will ultimately see a “gigantic price increase” due to its limited supply of only 21 million digital […]

After Twitter, Reddit Might Allow Users To Add NFT as Profile Picture

Just two days after Twitter unveiled the feature to add NFTs to one’s profile picture, another social media giant Reddit is reportedly making a similar move. As per the report, Reddit is testing a feature that allows its users to set any NFT as their own profile picture. Note that this is different from its

The post After Twitter, Reddit Might Allow Users To Add NFT as Profile Picture appeared first on CoinGape.

Cathie Wood, Ark Invest report predicts bitcoin could reach $1 million by 2030.

According to the firm’s “Big Ideas 2022” outlook report prepared by ARK analyst Yassine Elmandjra, the world’s largest cryptocurrency value will soar in the next decade as more investors adopt the digital currency. Furthermore, Elmandjra, who noted that bitcoin’s market capitalization is still a fraction of global assets, will experience massive growth in value as nations like […]

El Salvador buys more bitcoins as the cryptocurrency’s price falls to $36,000.

The Central American country of El Salvador has added 410 Bitcoins to its central reserve as BTC prices trade below $37,000, a price last seen on Jul. 26, 2021. The fresh addition to the country’s BTC reserve was announced by President Nayib Bukele, who confirmed that the purchase of 410 BTC was made against $15 […]

Here’s Why You Should NOT Yet Buy the Bitcoin Dip, Miner Capitulation Ahead?

Well, the broader cryptocurrency has entered the second consecutive day of massive correction with Bitcoin bleeding deep red. Although Bitcoin has corrected a staggering 47% from its all-time high of $69,000, here’s why we think one should still wait and not jump in straight away to buy the dips. Despite Bitcoin correcting heavily over the

The post Here’s Why You Should NOT Yet Buy the Bitcoin Dip, Miner Capitulation Ahead? appeared first on CoinGape.

MicroStrategy (MSTR) Stock On Free Fall As SEC Rejects Its Bitcoin Accounting Strategy

The U.S. Securities and Exchange Commission (SEC) is adding more fuel to the already widespread fire in the broader cryptocurrency market. On Friday, January 21, the SEC rejected MicroStrategy’s Bitcoin accounting standards noting that the company cannot strip out Bitcoin’s wild swings from its unofficial accounting standards. The news comes just as Bitcoin corrected 7%

The post MicroStrategy (MSTR) Stock On Free Fall As SEC Rejects Its Bitcoin Accounting Strategy appeared first on CoinGape.

Second Consecutive Crash Day Extends Investor Loses Over $350 Billion, El Salvador Buys the Dip

On Frida, January 21, the broader cryptocurrency market extended further losses tanking another 8%. This is the second consecutive day of heavy selling in the crypto space as investors lose more than $350 billion in cumulative wealth. As of press time, Bitcoin is down 7.38% and is currently trading at $36,611 with a market cap

The post Second Consecutive Crash Day Extends Investor Loses Over $350 Billion, El Salvador Buys the Dip appeared first on CoinGape.

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