Cryptocurrency Market Correction Triggers $1 Billion Closure of Leveraged Futures Bets
The recent correction in Bitcoin’s price, following its surge to a new all-time high above $69,000, has led to the closure of leveraged perpetual futures bets worth $1 billion across digital asset markets. On Tuesday, Bitcoin experienced a 10% drop, settling at $59,700, triggering a significant clearing of excess leverage in the market. CoinGlass data…
Bitcoin price briefly tops $69,000 for a new all-time high
The price of Bitcoin, the world’s largest cryptocurrency, briefly reached a new all-time high, surpassing $69,000. This milestone exceeded the previous record set in November 2021, a noteworthy achievement given that Bitcoin’s value had plummeted to $16,500 by 2022. The recent surge in price can be attributed to major US financial institutions investing billions in…
OneCoin scandal sees Konstantin Ignatov released, expresses remorse for $4.4b fraud
Konstantin Ignatov has been released after serving 34 months in prison for his involvement in the OneCoin cryptocurrency scam, a scheme that fraudulently claimed $4.4 billion from investors. His release was granted by Judge Edgardo Ramos on March 5, applying a “time served” verdict, indicating that Ignatov’s pre-sentencing time in custody was considered sufficient punishment….
Ethereum price beats crypto market bloodbath nearly a week away from Dencun upgrade
On Wednesday, Ethereum’s price experienced a notable 5% rally, defying the broader cryptocurrency market correction triggered by Bitcoin’s decline. This positive momentum coincides with the upcoming Dencun upgrade scheduled for March 13, anticipated to bring about a reduction in transaction costs for Layer 2 chains. Staked Ethereum has surged to $118 billion, as holders position…
Why Bitcoin Just Hit Its All-Time High
Bitcoin has staged a remarkable comeback, reaching a historic high of $68,900 on March 5, marking a significant milestone in its 15-year history. This resurgence follows a turbulent period in the cryptocurrency industry, which witnessed a widespread meltdown less than two years ago, resulting in substantial financial losses and legal repercussions for industry leaders such…
Bitcoin Will Tumble After Launch of Digital Ruble, Says Russian Economist
A Russian economist, Alexander Razuvaev, who is a member of the supervisory board of the Guild of Financial Analysts and Risk Managers, predicts a decline in Bitcoin following the introduction of the digital ruble and other major Central Bank Digital Currencies (CBDCs). Razuvaev acknowledges that the cryptocurrency market is currently experiencing significant overheating due to…
Crypto Prices Today March 7th: Bitcoin Nears $66K, Ethereum Closer To $3800 As SOL, XRP, PEPE Gain
Today, the cryptocurrency market experienced positive momentum, with Bitcoin (BTC) approaching the $66,000 mark and various altcoins showing significant gains. Ethereum (ETH) also made progress, nearing the $3,800 level. Notably, Solana (SOL), XRP, and Cardano (ADA) observed substantial increases in their respective prices. Key Highlights of Major Cryptocurrency Prices: Bitcoin (BTC): Ethereum (ETH): Binance Coin…
WIF Rebounds on Binance Listing Plan as Other Meme Coins Run Out of Steam
The value of Dogwifhat surged by over 25% after the announcement that the crypto exchange Binance plans to list the token. This positive movement comes in contrast to many other meme coins that experienced losses following a busy weekend, where several of them more than doubled in price. Bitcoin dominance increased from 51.8% to 52.3%…
Crypto Lender Nexo Seeking $3B in Damages From Bulgaria
Cryptocurrency lender Nexo has taken legal action against the Republic of Bulgaria, filing an arbitration claim seeking $3 billion in damages. The accusation revolves around what Nexo describes as “wrongful and politically motivated actions,” specifically citing “unjustified and oppressive criminal investigations.” The Bulgarian Prosecutor’s Office had concluded its investigation into Nexo for alleged money laundering…
Bitcoin: what has caused the cryptocurrency’s latest revival?
As the digital asset surpasses its previous peak value recorded in November 2021, let’s explore the factors contributing to Bitcoin’s recent surge. Bitcoin, a pivotal player in the cryptocurrency market, has achieved a new all-time high over two years after its previous pinnacle. On a recent Tuesday, it exceeded the November 2021 peak of just…
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