Bitcoin mining difficulty has dropped to its lowest level since December 2022. According to BTC.com, on May 9, the difficulty of mining Bitcoin (BTC) fell by 5.63% to 83.15 T. The same value was during the 2022 bear market phase due to a series of bankruptcies, including the collapse of Terra and FTX. Source: BTC.com Since the previous change in value,...
The cryptocurrency market has witnessed over $210 million worth of liquidations across the board, with long positions accounting for 85% of this bloodbath amid the latest market turmoil. Data from crypto analytics resource Coinglass confirms that market participants have suffered a blow from the recent turbulence, which has triggered a 4% drop in the price of...
The Bitcoin funding rate has gone negative for the first time since October 2023. Citing data from CryptoQuant, the negative rate traders pay to open new long positions in the perpetual futures market underscores the moderation of Bitcoin demand after a record demand for BTC in March. In March, the price of Bitcoin reached a new all-time high at...
Bitcoin’s fourth halving event has drawn significant attention to its comparison with gold regarding scarcity, as highlighted by Glassnode analysts. According to Glassnode, this event marked a historic moment where Bitcoin’s (BTC) issuance rate fell below that of gold for the first time, emphasizing a pivotal shift in the narrative surrounding the two assets. As reported, the halving...
Bitwise Chief Investment Officer Matt Hougan offered a long-term view on the Bitcoin halving based on historical data and spot ETF demand. Speaking with CNBC on April 19, Hougan regarded this year’s Bitcoin (BTC) halving as a “buy the news” opportunity for investors interested in the world’s biggest cryptocurrency asset class. “If you look historically at halvings,...
The Arkansas State House has approved two bills that could see a ban on crypto mining activities within the state. At present, the bills are still under consideration and have yet to progress to full-fledged legislation; they establish the framework for further discussions leading to potential legislation. On April 17, senators held a Senate hearing to discuss general concerns...
Bitcoin mining companies are facing a notable decrease in stock value in anticipation of the upcoming halving. Shares of Marathon Digital Holdings, Riot Platforms, and CleanSpark have declined for three consecutive days. Marathon Digital Holdings, the largest public Bitcoin miner, lost nearly 25% of its stock value in the past month, while Riot Platforms lost almost 30%. Additionally, the...
More people worldwide are interested in the Bitcoin halving this year compared to 2020. According to the CoinWire research provided to crypto.news, the appeal of Bitcoin’s (BTC) halving has almost doubled since its previous quadrennial block reward slashing. The firm analyzed this year’s Google Trends data from across the globe and discovered that BTC halving interest scores increased from...
Bitcoin’s mining difficulty achieved a record high of 86.4 trillion amid upcoming halving in April. Data gathered by btc.com showed that Bitcoin’s (BTC) mining difficulty achieved a record high of 86.4 trillion as companies generated massive amounts of computing capacity before the much-anticipated halving event later this month. Mining difficulty refers to the computer-generated power needed to...
SkyBridge Capital founder Anthony Scaramucci expects Bitcoin to reach at least $170,000 within the 18-month post-halving cycle. In the latest interview with CNBC, the former White House Communications Director expressed his optimism about the Bitcoin market. Scaramucci pointed out that Bitcoin ETFs reached over $10 billion in cumulative inflow within just three months, a feat that took Gold ETFs a year...
