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Utah has taken a significant step in recognizing digital assets by passing the Blockchain and Digital Innovation Amendments (HB230) bill in the state Senate. However, a major element of the proposal—allowing the state to hold Bitcoin as part of its treasury reserves—was removed before the final vote. This change means that while the bill still…
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Bloomberg’s senior commodity strategist, Mike McGlone, has suggested that Bitcoin’s price could fall to as low as $70,000. Currently, the Bitcoin-to-gold ratio, which shows how many ounces of gold it takes to buy one Bitcoin, stands at 28X. McGlone anticipates a decline in Bitcoin’s performance this year, with the ratio possibly dropping to 21X.…
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Strategy, formerly known as MicroStrategy, may soon sell $21 billion in preferred stock to buy more Bitcoin, according to a Monday filing. The firm said in a Securities and Exchange Commission filing that it has now entered into a sales agreement with a dozen financial institutions that will be able to issue its “STRK” offering.…
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Here’s what Trump’s economic policies and the strategic Bitcoin reserve announcement may mean for crypto investors. Bitcoin (BTC -3.89%) took a steep price cut over the weekend. As measured from Friday’s market close, the cryptocurrency’s price was down 8.9% by 10:45 a.m. on Monday morning. The iShares Bitcoin Trust ETF (IBIT -8.69%) fell 8.4% over…
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RLinda, a TradingView crypto analyst who predicted Bitcoin’s previous crash from $91,000, has shared another bearish forecast for the pioneer cryptocurrency. According to the analyst, more pain may be on the horizon for Bitcoin, as it is expected to plummet as low as $73,000. Bitcoin is currently struggling to maintain its former momentum as bearish…
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It’s not just digital coins and tokens getting battered—crypto equities are also in the red. Bitcoin crashed below $80,000 on Monday morning New York time while stock markets suffered, as President Trump continued to rattle markets with tariff twists and recent comments on a potential recession. Companies holding Bitcoin and public firms in the digital…
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This is a segment from the Supply Shock newsletter. To read full editions, subscribe. Bitcoin is writing history as we speak. Blockworks’ newest podcast Supply Shock now actively connects the dots between the current state of Bitcoin and its tumultuous timeline — all anchored by the unique perspective of its host Pete Rizzo, the Bitcoin…
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Digital asset investment products continued their losing streak for the fourth consecutive week, with outflows reaching $876 million, according to CoinShares‘ latest report. James Butterfill, head of research at CoinShares, noted that while the rate of capital flight has slowed, investors remain cautious amid the bearish market situation. He said the outflow brought the total…
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Bitcoin briefly dropped under the $80,000 level Monday, dragged by the continued selling pressure in the equities market. The price of the flagship cryptocurrency was last lower by 3% at $80,185.27, according to Coin Metrics. At its low of the day, bitcoin hit $79,162.46. Shares of companies linked to the crypto space also slid. Coinbase…
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Bitcoin (BTC) sought a rematch with multimonth lows on March 10 as familiar selling accompanied the start of Wall Street trading. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView BTC price sags closer to new four-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD down around 4% on the day to reach $79,170 on Bitstamp. Weakness…