Cryptonews Archive

Bitcoin capitulations abound — Data shows realized and unrealized losses at record-highs

Being three weeks removed from the FTX collapse, Bitcoin (BTC) analysts are combing through data to decipher whether more selling will continue or if a bear market floor has been reached. One thing miners, short-term and long-term holders have in common is they are losing in the Bitcoin market right now. According to on-chain analysis …

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Bitcoin ‘millionaire’ wallets drop 80% in year of BTC price bear market

Bitcoin (BTC) millionaires are becoming an increasingly rare breed as numbers fall 80% in a year. According to the latest data from on-chain analytics firm Glassnode, there are now just 23,000 wallets with a BTC balance worth $1 million or more. 1 year, 90,000 fewer million-dollar BTC wallets In yet another indication of how far …

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How low can the Bitcoin price go?

Bitcoin (BTC) has spent over a year in a downtrend since its $69,000 all-time highs in November 2021. BTC price performance has given investors up to 77% losses, but how much lower can BTC/USD really go? Bitcoin traders and analysts have long agreed that 2022 is the year of the largest cryptocurrency’s newest bear market. …

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$15.5K retest is more likely, according to Bitcoin futures and options

Bitcoin (BTC) has been trading near $16,500 since Nov. 23, recovering from a dip to $15,500 as investors feared the imminent insolvency of Genesis Global, a cryptocurrency lending and trending company. Genesis stated on Nov. 16 that it would “temporarily suspend redemptions and new loan originations in the lending business.” After causing initial mayhem in …

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First time Bear market? Advice from Bitcoin Bull Michael Saylor

First-time bear market? It’s also the first Bitcoin (BTC) bear market for Michael Saylor, one of the world’s biggest Bitcoin bulls. Executive chairman of one of the world’s largest pro-Bitcoin companies, Saylor took a moment out of his busy schedule at the Los Angeles Pacific Bitcoin conference to speak with Cointelegraph. Crucially, Saylor told Cointelegraph …

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Bank of England Warned Consumers About DeFi Risks Following FTX Collapse – Regulation Coming Soon?

Bank of England (BoE), the UK’s central bank, warned consumers about the risks of using decentralized finance (DeFi) protocols shortly after the crypto exchange FTX collapsed. The warning from the central bank was given in a speech by Deputy Governor of the Bank of England, Jon Cunliffe, at an event hosted by Warwick Business School …

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News Summary: Nexo Sued in UK, FTX Japan to Resume Withdrawals by Year End, ConsenSys Partners with Celo

Source: AdobeStock/piter2121 Legal news Crypto lender Nexo is being sued by three investors in the London High Court, who are alleging that the firm blocked them from withdrawing over £107 million ($126 million) worth of crypto, CityAM reported. The report stated that the company “intimidated” the trio into selling their crypto back to the company …

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FTX funds on the move as thief converts thousands of ETH into Bitcoin

According to blockchain analysis company Chainalysis, funds stolen from the FTX crypto exchange are now being converted from ETH into Bitcoin. On Nov. 20, Chainalysis took to Twitter to encourage exchanges to freeze these coins, should the thief attempt to convert them into fiat or further obfuscate the assets through other means. 1/ Funds stolen …

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FTX is done — What’s next for Bitcoin, altcoins and crypto in general?

2022 was a tough year for crypto, and November was especially hard on investors and traders alike. While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull other centralized crypto exchanges down with it could be positive over the long run. Allow me to explain. What people learned, …

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Tether Says It Had No Exposure to Genesis Global and Gemini Earn, Crypto Experts Are Doubtful

Tether, the issuer of the major stablecoin USDT, denied having exposure to either Genesis Global Capital or Gemini Earn. Some, however, wonder how it is possible for such a large company not to be affected by any of the massive events that shook the crypto space this year. The company said in an announcement that …

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Bitcoin price dips to $16.4K over Genesis woes as execs defend GBTC

Bitcoin (BTC) fell to intraday lows after the Nov. 16 Wall Street open as the FTX scandal appeared to claim another victim. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Genesis Trading liquidity “exceeded” Data showed BTC/USD trading around $16,400 at the time of writing. Downside had entered again for the pair amid news that Genesis …

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Elon Musk says BTC ‘will make it’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week on shaky ground after its lowest weekly close in two years. The largest cryptocurrency considerably weakened after last week’s implosion of exchange FTX, continues to grapple with the fallout. In what is becoming an increasingly erratic market, investors are unsure what will happen next as more firms sound the …

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FTX Hack and Balance Sheet Mystery – Crypto Prices Weak As Up to $2 Billion of Client Funds Missing. Where is SBF?

Source: Adobe Stock Aside from losses resulting from the FTX hack, the bankrupt exchange is apparently unable to account for $1 billion to $2 billion of client funds, say people familiar with the matter, and its balance sheet shows liabilities of $8,859 million against assets of just $899 million. In addition, $10 billion was transferred …

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