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Bitcoin Price Could Fall to $50,000: Standard Chartered

Post author By BitcoinMagazine
Post date 2Y

Major global bank Standard Chartered believes the Bitcoin price could see further downside to around $50,000, according to recent comments.

Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, told The Block: “BTC’s proper break below $60,000 has now reopened a route to the $50,000-52,000 range.”

As of writing, Bitcoin is trading under $57,000 after a steep drawdown from recent highs above $70,000. Kendrick cited both the Bitcoin market and broader macroeconomic factors weighing on Bitcoin’s price.

He highlighted five straight days of outflows from U.S. spot Bitcoin ETFs and the slow start for new Hong Kong spot Bitcoin ETFs as the reasons for the recent…

Tether nets record $4.52 billion profit in Q1 2024 — majority from Bitcoin and gold

Post author By cointelegraph
Post date 2Y

The majority, or $3.52 billion of the profit, stemmed from the firm’s financial gains on Bitcoin and gold, while the additional $1 billion came from operating profits.

Read more on Cointelegraph

MicroStrategy Bitcoin Accumulation | 122 BTC Bought in April

Post author By BitcoinNewsCom
Post date 2Y

MicroStrategy, a prominent business intelligence firm, keeps committed to its aggressive bitcoin accumulation strategy. According to reports, the company has bought another 122 BTC in April, bringing its total bitcoin reserves to over 214,000 BTC.

MicroStrategy Bitcoin Acquisition Spree

With a steadfast commitment to Bitcoin, MicroStrategy has been consistently bolstering its holdings, making headlines with each acquisition. Since August 2020, MicroStrategy has been on a relentless journey of accumulating bitcoin, positioning itself as a major player in the Bitcoin market.

According to the company’s quarterly reports, MicroStrategy acquired an additional 122 BTC in…

Patrick McHenry Questions SEC’s Transparency On Ethereum As A Security

Post author By Benzinga
Post date 2Y

In an escalation of tensions between Congress and the U.S. Securities and Exchange Commission (SEC), Patrick McHenry (R-N.C.), Chair of the House Financial Services Committee, has openly criticized SEC Chair Gary Gensler for his evasive responses during a congressional hearing.

What Happened: McHenry alleged that Gensler knowingly avoided clarifying whether the SEC considers Ethereum‘s ETH/USD cryptocurrency, ether, as a security.

This accusation was spurred by revelations from court documents indicating the SEC was actively investigating ether’s status just before Gensler’s testimony.

“The refusal of Chair Gensler to address questions about the SEC’s stance on ether during the…

Alliance Resource Partners | Venturing into Bitcoin Mining

Post author By BitcoinNewsCom
Post date 2Y

Alliance Resource Partners, a renowned coal mining company trading under the ticker ARLP on the Nasdaq, recently revealed that it has entered the realm of Bitcoin (BTC) mining.

With a net worth of $2.8 billion, Alliance’s foray into Bitcoin mining positions it as one of the few traditional companies embracing the digital asset. This marks a significant step for the company in diversifying its operations.

Alliance Resource Partners: $30 Million in BTC on Balance Sheet

Cary Marshall, Senior Vice President and CFO of Alliance Resource Partners, disclosed during the miner’s Q1 earnings call that the company began its Bitcoin mining venture in the latter half of… Read more on bitcoinnews

Losses from crypto hacks plunge 67% in April to $60 million

Post author By cointelegraph
Post date 2Y

The amount stolen through crypto hacks, along with the number of successful attacks, has seen a sharp decline in April.

Read more on Cointelegraph

Bitcoin Plummets Below $58K, ETH, SOL, DOGE Follow: Over $400M Liquidated In ‘Deepest Retrace In The Cycle’

Post author By Benzinga
Post date 2Y

Cryptocurrency markets continue to bleed, with the FOMC meeting and poor ETF performances in the U.S. and Hong Kong weighing heavy on the markets.

What Happened: Bitcoin BTC/USD, Ethereum ETH/USD, Solana SOL/USD and Dogecoin DOGE/USD started May with heavy losses.

Prices as of 7.30 a.m. Eastern Time:

CryptocurrencyGains +/-PriceBitcoin BTC/USD-5.9%$57,500Ethereum ETH/USD-4.5%$2,882.07Solana SOL/USD-5.7%$120.97Dogecoin DOGE/USD-8.5%$0.124

At the time of writing, total crypto liquidations in the past 24 hours stand at $447.3 million, with $377 million worth of long positions liquidated. $142.5 million worth of long positions on Bitcoin were liquidated.

Total trading volumes in the past 24…

Chainlink to join Rapid Addition in building blockchain adapter for institutions

Post author By cointelegraph
Post date 2Y

Chainlink Labs’ Vince Turcotte told Cointelegraph that they expect digitally-native institutions to be the first to adopt the integration.

Read more on Cointelegraph

Curve Finance awards dev $250k for finding reentrancy vulnerability

Post author By cointelegraph
Post date 2Y

Curve Finance awarded cybersecurity researcher Marco Croc with its maximum bug bounty award of $250,000 after thoroughly investigating the security flaw.

Read more on Cointelegraph

Pike Finance exploited for $1.6M in second incident in 3 days

Post author By cointelegraph
Post date 2Y

A smart contract vulnerability led to nearly $2 million worth of lost funds within three days on Pike Finance, which is offering a 20% reward for the stolen assets.

Read more on Cointelegraph