Bitcoin slumped below $27000 Thursday for the first time in over 16 months as cryptocurrency markets extended their losses.
Economists have long feared that tether may not have the required amount of reserves to bolster its dollar peg in the event of mass withdrawals. Adding to investors' fears Thursday was a drop in the value of tether, the world's biggest stablecoin. Ether, the second-biggest digital currency, tanked to as low as $1,789 per coin. Digital currency investors often turn to them for safety in times of volatility in the markets. That's a risky gamble, not least because bitcoin is itself an incredibly volatile asset. That marks the first time bitcoin has sunk below the $27,000 level since Dec. 30, 2020.
Follow all the latest news, analysis and expert price predictions for bitcoin, as well as other leading cryptocurrencies like Ethereum, Solana, and Cardano.
Others warn that holding the $30k level could be critical for bitcoin’s short- to medium-term prospects. The coming hours and days could prove critical as to whether this trend can continue. The crash is continuing. Start your Independent Premium subscription today. There’s a lot of trees, a lot of landmarks, and even a “beautiful lookout in the volcano”. That volcano is going to be used to not only power the city with geothermal energy, but also provide the energy to mine bitcoin. Bitcoin is teetering on the precipice of an abyss, according to some crypto market analysts, with its price hitting its lowest level since July 2021.
A risk-off move from overnight is likely to extend into today's Asia-Pacific session. US stocks closed in the red after traders digested the latest ...
No representation or warranty is given as to the accuracy or completeness of this information. Prices above are subject to our website terms and agreements. Prices above are subject to our website terms and agreements. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed. The Japanese yen managed to gain versus a US dollar that rose against the euro and the British pound. Analysts see new loans crossing the wires at 1.53 trillion, according to a Bloomberg survey. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. US stocks closed in the red after traders digested the latest inflation data out of the United States. The US consumer price index ( CPI) crossed the wires at 8.3% versus the 8.1% Bloomberg consensus forecast. The tailwind from the move in real yields came just in time for XAU, given that the metal was trading at critical support.
Despite a cryptocurrency market downturn marked by the collapse of Terra's $LUNA and its UST stablecoin, institutional investors are banking on the flagship ...
Bank of America's experts expect an ongoing correlation between Bitcoin and equities to persist in the foreseeable future. As per the on-chain analytics firm Glassnode, when BTC was trading at around $33,800, around 60 percent of BTC investors were earning profits and the rest 40 percent had unrealised losses. According to the reports, these falling prices have led to unrealised losses for at least 40 percent of bitcoin investors.
The longtime bitcoin bull remains so, reminding that he's held the crypto through three 80% drawdowns.
The cryptocurrency declined toward $25,400 before quickly recovering back above the $27,000 support level. BTC is down by 2% over the past 24 hours and declined ...
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Further, BTC registered a countertrend reversal signal on the daily chart, per the DeMARK indicators. The cryptocurrency declined toward $25,400 before quickly recovering back above the $27,000 support level.
Legendary investor Bill Miller said he hasn't sold any Bitcoin (BTC-USD).
On Wednesday, the implosion of the TerraUSD stablecoin kindled wide-spread panic in the crypto space. But 24 hours later, things have calmed down ...
Terraform Labs halted and then restarted its Terra blockchain in the wake of the collapse of TerraUSD and its related Luna token. Tether, the largest stablecoin used in cryptocurrency markets to facilitate trading, recovered from a mini-crash, soothing frayed trader nerves that its troubles might spill into the broader market. On Wednesday, the implosion of the TerraUSD stablecoin kindled wide-spread panic in the crypto space.
Bitcoin sank below $30,000 on Wednesday as the overall cryptocurrency market struggles to regain upward momentum. The largest cryptocurrency by market value had ...
However, UST hasn’t regained a $1 value, falling to a new low of 29 cents on Wednesday. Analysts recently told Fortune that Bitcoin flirting with the $30,000 mark is cause for concern, warning that below this level, there could be potential ripple effects that accelerate losses. That’s between a 55% and 57% decline from its November peak of $69,000.
The stablecoin price action is creating a big movement toward de-risking in the cryptocurrency market. This appears to be crypto winter. Plan accordingly. A ...
Analysts expect greater price swings because of macroeconomic risks and ongoing stablecoin woes.
As bitcoin's price stands at the risk of falling below $20000, the larger cryptocurrency market is in the crosshairs, however, there have been some positive ...
You can select 'Manage settings' for more information and to manage your choices. You can change your choices at any time by visiting Your Privacy Controls. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Click here to find out more about our partners. - Information about your device and internet connection, including your IP address
Bitcoin fell below $30000 and touched its lowest level since June, while the TerraUSD stablecoin continued its downward spiral.