Bitcoin | Crypto

Financial advisors are still bullish on crypto, but stablecoins and blockchain applications are now attracting more institutional attention than Bitcoin.

Everyone knows about the ETFs, but almost nobody knows about the dozens of obscure institutional products being built around Bitcoin while the funds soak up all the attention, from a $40 million insurance reserve in Barbados to an S&P-rated bond deal sold to Wall Street investors by Jefferies. The ETFs answered only one question, which […] The post From reinsurance to structured credit: The financial products you didn’t know Bitcoin was powering appeared first on CryptoSlate.

Elon Musk has become the first person in modern history to amass a personal net worth exceeding $1 trillion, crossing the historic threshold on Friday following the record-breaking public market debut of SpaceX. According to the Bloomberg Billionaires Index, the technology executive’s total fortune now stands at $1.11 trillion. To put the unprecedented scale of […] The post Elon Musk’s trillionaire status puts his net worth above crypto’s entire market cap outside Bitcoin appeared first on CryptoSlate.

The banks are finally buying the vaults. In May, BNY, the world's largest custodian with $59.4 trillion in assets under custody and administration, announced it would offer Bitcoin and Ethereum custody in Abu Dhabi. Weeks later, Standard Chartered confirmed it will fully acquire Zodia Custody, the digital asset custodian it incubated in 2020, with the […] The post Banks are buying Bitcoin vaults, but a quantum problem may be waiting inside appeared first on CryptoSlate.

Bitcoin reclaimed $64,000 on June 12 and touched an intraday high of $64,301 in the same session that spot ETF flows finally flipped positive after four straight sessions of institutional selling, and oil prices fell as peace deal momentum built between Washington and Tehran. On June 13, Bitcoin fights to stay close to the $64,000 […] The post Bitcoin price challenges $64,000 weekend wall – needing a breakout or risk a deeper correction appeared first on CryptoSlate.

Bitcoin stayed near local highs on a new US-Iran peace deal pledge as analysis saw conditions favoring a sustained BTC price rebound. Bitcoin (BTC) circled $64,000 into Sunday’s weekly close as a US-Iran peace deal appeared imminent. Key points: Read more

Bitcoin traded above $64,000 on Saturday, supported by its strongest ETF inflows in a month and growing optimism around geopolitical developments.

Bitcoin was designed as a hedge against inflation, but every hot inflation report in the past year has knocked its price lower, and Thursday's data was no different. The Producer Price Index rose 1.1% in May, lifting the annual increase to 6.5%, the fastest pace since November 2022 and well above the 0.7% monthly gain […] The post Wholesale inflation is back in focus. Here’s what PPI means for your money and Bitcoin appeared first on CryptoSlate.

Strategy's recent Bitcoin sale appeared to clash with Saylor's "never sell" mantra, but he says the move reflects how the company's digital credit business works. Michael Saylor, executive chairman of Strategy, defended the company's recent Bitcoin sale, saying the ability to sell the asset is necessary to continue issuing "digital credit." Strategy disclosed its first reported Bitcoin sale since 2022 in a June 1 filing with the US Securities and Exchange Commission, offloading 32 BTC in a move that appeared at odds with Saylor's long-running "never sell your Bitcoin" mantra. In an interview with Cointelegraph at the BTC Prague conference, Saylor said that Bitcoin treasury companies must retain the ability to sell holdings when necessary to support dividend-paying securities and other Bitcoin-backed credit products.  Read more

The Bitcoin network is poised to execute one of the largest downward adjustments to its mining difficulty in its 17-year history this weekend, a stark reflection of the severe margin compression forcing operators to take hardware offline. The automated recalibration, scheduled to occur on June 13 at block height 953,568, is projected to slash the […] The post Bitcoin faces one of its biggest mining difficulty drops as miner margins collapse appeared first on CryptoSlate.

New data from Galaxy Research suggests that Bitcoin's floor price may not drop as low as previous bear markets, but the bottom-finding process is still playing out. New research from Galaxy Digital suggests that Bitcoin's cycle low could form at higher price levels than previous bear markets due to the absence of speculation. The analysis places the potential bottom between $62,000 and the network's realized price at $53,600. Galaxy head of research Alex Thorn analyzed every Bitcoin cycle top and bottom and noted that the four-year cycle continues to track closely with BTC’s historical timing. The peak-to-trough declines have steadily narrowed across market cycles, falling from 85% and 84% in earlier periods to 77% in 2022 and 51% in 2026.  Read more

A positive bid-ask readings and a bullish RSI divergence support Bitcoin's recovery, with $70,000 emerging as a key target. Bitcoin (BTC) is gaining buyers’ interest after setting a new yearly low at $59,000 last week. Order book data and liquidity suggest a rally is pending and more than $2 billion in short liquidity is concentrated near $65,000. BTC's bid-ask ratio has remained positive since last Friday.  The shift in positioning and sentiment also aligns with a bullish chart pattern targeting the $67,000–$70,000 range.  Bitcoin's recent rebound to $63,500 followed a bullish divergence between the price and the relative strength index (RSI) on the four-hour chart. The price printed a lower low during the early-June sell-off while the relative strength index (RSI) formed a higher low. The signal pointed to fading downside momentum before buyers stepped in. Read more

Bitcoin’s largest buyers are no longer behaving like a reliable backstop for the largest cryptocurrency. The exchange-traded funds, public-company treasuries, and Bitcoin-linked equities that helped define the market’s institutional era are showing signs of strain, just as the world’s largest digital asset struggles to hold above $60,000, one of its most closely watched price levels. […] The post Bitcoin price faces new risk as big buyers lose conviction appeared first on CryptoSlate.

Bitcoin hit $64,000 as SpaceX launched a record-breaking IPO and US-Iran peace deal hopes continued to grow, but doubts over BTC price support remained. Bitcoin (BTC) hit $64,000 after Friday’s Wall Street open while analysis warned of “unreliable” BTC price support. Key points: Read more

Bitcoin miner metic sparked talk of "capitulation" as profit margins stayed under 5%, but the BTC price bear-market bottom remained absent. Bitcoin (BTC) miners are back under pressure as data hints that a new buying opportunity is now here. Key points: Read more

Authorities are seeking extradition to the U.S. of two arrested individuals for allegedly laundering $389 million in Bitcoin.

BlackRock has updated its regulatory filing for a new Bitcoin Premium Income ETF, signaling an imminent launch that intensifies a Wall Street race against Goldman Sachs Group to capture yield-seeking digital asset investors. On June 10, the world's largest asset manager submitted an updated prospectus to the Securities and Exchange Commission (SEC) for the iShares […] The post BlackRock races Goldman Sachs to turn Bitcoin volatility into ETF income appeared first on CryptoSlate.

Bitcoin mostly preserved a recent rebound despite the highest US PPI inflation since October 2022 and Iran closing the Strait of Hormuz oil route. Bitcoin (BTC) returned to $63,000 on Thursday as crypto shook off news that Iran had closed a key global oil route. Key points: Read more

Glassnode's latest Week On-chain report says Bitcoin has entered a deep discount phase, with over 95% of short-term holders underwater and realized losses approaching levels associated with severe capitulation. The report also notes that a durable Bitcoin recovery is likely to require either the dollar index breaking below 99 or the 10-year Treasury yield compressing […] The post Bitcoin’s $60,000 support is still a bet on the dollar breaking appeared first on CryptoSlate.

BEAT has reached its most overbought readings on record, raising the odds of a 35% price decline in the coming days. BEAT, the native token of AI music platform Audiera, has exploded higher over the past month, surging more than 1,500% to a record high of $9.20 even as Bitcoin (BTC) and Ether (ETH) fell roughly 25% and 30%, respectively, in the same period. BEAT/USD vs. BTC/USD and ETH/USD 1-month price performance. Source: TradingView Read more