Bitcoin short sellers face the risk of substantial liquidations amounting to $1.67 billion if the cryptocurrency returns to the $70,000 price level, which it hasn’t seen in 12 days. Analysts suggest a major liquidation event could pave the way for Bitcoin to reach new all-time highs.
Bitcoin ETFs and crypto funds have experienced a significant downturn, with massive capital outflows since March, as investors lose confidence due to economic uncertainty and the Federal Reserve’s stance on interest rates.
Cardano (ADA) and Bitcoin (BTC) are generating significant social media buzz. Cardano’s upcoming Chang hard fork and advanced governance model drive engagement—Bitcoin’s price action and market cap comparisons fuel discussions.
Despite strong demand for Bitcoin from institutional investors and long-term holders, Bitcoin’s price has yet to experience a significant rally, according to a recent report by CryptoQuant. The report cites slowing growth in the market capitalization of the stablecoin Tether (USDT) as a potential factor impeding a price rally.
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Former President Donald Trump’s 2024 campaign has announced it will accept cryptocurrency donations, including Bitcoin, Ether, and Dogecoin, as he faces multiple criminal charges and prepares for a potential presidential debate against incumbent Joe Biden.
Bitcoin (BTC) reached $70,000 on Monday, marking its highest level in over a month, fueled by a surge in spot buying and spot BTC exchange-traded fund (ETF) purchasing.
Paraguay is taking a tough stance against illegal bitcoin mining operations by proposing legislation that includes up to 10 years in jail for mining illegally and provisions for seizing and selling mining equipment from unlawful operations.
Bitcoin’s price has surged to its highest level since the halving on April 19, reaching $67,422 before a slight pullback, driven by a combination of factors including new investor demand and geopolitical turmoil.
Mike Novogratz, CEO of Galaxy Digital, expects cryptocurrencies like Bitcoin to consolidate between $55,000 and $75,000 over the next month before potentially bouncing higher towards the end of Q2, citing a “consolidation phase” in the crypto markets.
