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Bitcoin climbed toward $80,500 as risk assets rallied on Democrats’ midterm election gains and oil prices fell. Bitcoin (BTC) returned to $80,000 at Wednesday’s Wall Street open as US stocks surged following a Democratic sweep in the midterm elections. Key points: Data from TradingView showed BTC/USD up by over 4%, having rebounded from its lowest levels in seven weeks.
Bitcoin price downside reached a seven-week-low of $75,618 as 24-hour crypto long liquidations neared $300 million. Bitcoin (BTC) sought to erase 3% overnight losses on Wednesday as crypto markets digested the Democratic sweep of the midterm elections. Key points: Data from TradingView showed BTC/USD falling into Tuesday’s daily close as election results came in, with Democrats going on to win control of both the House and Senate. The pair dropped to a low of $75,618 on Bitstamp, a level last seen on Sept. 16, before rebounding as high as $78,039 over the next three hours.
Markus Thielen sees Bitcoin reaching $90,000 by year-end, questions institutional ETF demand and says Ethereum must do more for holders. Bitcoin’s days of consecutive double-digit price surges are over as Wall Street traders and profit-taking whales reshape the market, according to 10x Research founder Markus Thielen. Institutional traders selling call options after rallies have made Bitcoin’s violent price explosions of earlier years less common, Thielen says in the latest episode of Cointelegraph’s Trade Secrets. Thielen is also the author of Crypto Titans, a history of the industry. Writing the book led him to notice how each cycle brought different people pitching crypto to investors.
Bitcoin made modest gains at the start of Wall Street trading on Tuesday as markets awaited cues from the US midterm elections. Bitcoin (BTC) headed higher at Tuesday’s Wall Street open as a tech-stock rebound under the shadow of uncertainty surrounding the US midterm elections. Key points:
Moscow Exchange plans to launch crypto trading on Dec. 1 under Russia’s new law, with annual purchase limits for non-qualified investors. Moscow Exchange plans to launch trading in Bitcoin, Ether and Tether’s USDT on Dec. 1, opening what it describes as Russia’s first organized digital currency market. The exchange said Monday that pilot trades would begin as participants join the platform. Trades will use its existing stock-market infrastructure and be cleared through the National Clearing Center (NCC), with trading hours from 6:50 am to 11:50 pm Moscow time. The venue will initially support same-day and next-day settlement, as well as swap transactions. Non-qualified investors must pass a test before purchasing crypto and will be limited to purchases of 300,000 rubles (about $3,700) ann…
Bitcoin fell below the realized price of the one-to-three-month-old buyer cohort in a move that risked flipping it to new resistance. Bitcoin (BTC) risks turning $77,700 into new resistance as recent buyers fall into an aggregate loss, analysis warns. Key points: Data from onchain analytics platform CryptoQuant shows that BTC/USD is now trading below the realized price, or cost basis, of investors who entered the market between one and three months ago.
BlackRock’s Bitcoin ETF shed $405.3 million on Monday as US spot Bitcoin funds opened November with nearly $399 million in net outflows. BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest daily outflow since June on Monday as US-listed spot Bitcoin exchange-traded funds (ETFs) kicked off November with further withdrawals. The funds recorded $398.6 million in net outflows, led by $405.3 million from IBIT, according to Farside Investors data. IBIT’s outflow was its largest since June 26, when investors pulled $444.5 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $6.7 million on Monday, partially offsetting the outflows.
The Swan Bitcoin founder warned that hackers are using large language models to exploit security flaws with just a few prompts. Artificial intelligence poses a more immediate threat to Bitcoin security than quantum computing, according to Swan Bitcoin founder Cory Klippsten, who warned that hackers are increasingly using AI to exploit vulnerabilities as crypto exchanges face a string of security breaches. Speaking on Cointelegraph’s Chain Reaction, Klippsten dismissed much of the concern surrounding quantum computing as speculative, arguing that advances in large language models present a more pressing challenge as attackers use the technology to probe security weaknesses. The warning comes as Brazil’s Mercado Bitcoin suspended deposits and withdrawals on Monday following a security incide…
Bitcoin fell around 1.7% on Monday as stocks pared early gains fueled by hopes of a diplomatic resolution to the US-Iran war. Bitcoin (BTC) returned below $77,000 after Monday’s Wall Street open as crypto shrugged off hopes of a US-Iran peace deal. Key points: Data from TradingView showed BTC/USD extending daily losses to 1.7% after reaching a local high of $78,750 after Sunday’s weekly close.
Strategy spent $208.2 million buying back STRC preferred shares and $65.5 million on Bitcoin, while allocating $98.5 million to its USD Cash balance. Michael Saylor’s Strategy spent more than three times as much buying back its STRC preferred shares as it did acquiring Bitcoin last week. Strategy repurchased $208.2 million in STRC and spent about $65.5 million buying 811 Bitcoin (BTC) at an average price of $80,846, according to a Monday 8-K filing with the Securities and Exchange Commission. Strategy sold about 1.18 million MSTR shares for net proceeds of $164 million. About $65.5 million funded its Bitcoin acquisition, while the remaining $98.5 million was allocated to the company’s USD Cash balance, according to the filing. The company held $132.7 million in USD Cash and $4.79 billion i…
Crypto exchange Gate said it froze two linked accounts as US investigators urged platforms to block transactions tied to the $6.3 billion theft. The hackers behind Binance’s $6.3 billion theft have begun converting stolen Solana tokens into Bitcoin after largely emptying the wallets used to launder funds on Tron, according to blockchain investigators. Lookonchain reported Sunday that the hackers had moved 486,970 Solana (SOL) tokens, worth about $46.4 million, and were swapping them for Bitcoin (BTC) through Relay. The activity involves funds that escaped the freezes imposed after Thursday’s theft, the largest in cryptocurrency history. Industry partners, including Tether and Circle, froze about $3 billion in stolen assets, while investigator SomaXBT estimated the attackers still controlle…
Bitcoin price action held its 100-day moving average into the monthly close as crypto markets braced for US midterm election and tech earnings volatility. Bitcoin (BTC) held above its 100-day moving average on Monday ahead of US midterm elections, jobs data and earnings from Apple and Palantir. Key points: Tuesday’s US midterm elections will determine control of Congress, with prediction market traders heavily favoring a Democratic victory in the House of Representatives.
Strive CEO Matt Cole says the Binance hack has not changed his long-term case for Bitcoin, but cautions it is too early to call a market bottom. Bitcoin has held up better than expected following the $6.3 billion Binance hack, according to Strive CEO Matt Cole, who said the breach does not undermine the cryptocurrency’s long-term investment thesis. Speaking on Cointelegraph’s Chain Reaction on Friday, Cole said the breach had not changed his long-term investment case for Bitcoin. He compared the attack on Binance’s wallets to a bank robbery rather than a failure of Bitcoin’s network. Bitcoin traded near $77,400 at 4:00 pm on Saturday, about 4% below its price shortly before the attack began Thursday, according to CoinGecko data.
In typical Bitcoin style, the number one cryptocurrency turns 18 today, amid AI-driven security threats, quantum fears and the biggest exchange hack in crypto history. Eighteen years ago today, pseudonymous cypherpunk Satoshi Nakamoto posted the Bitcoin whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System, to a cryptography mailing list. Created to bypass opaque institutions and remove the need for trust in financial transactions, Bitcoin (BTC) has been taking on the traditional financial system since its genesis block was mined on Jan. 3, 2009. Inscribed in that very first block was a message from Satoshi, quoting a headline from The Times: “Chancellor on brink of second bailout for banks.” It captured the financial crisis backdrop against which Bitcoin was born.
Bitcoin faces mounting quantum security concerns as Ripple secures a US banking charter, USDC gains ground in Europe and VanEck adds BTC to a new ETF. The debate over quantum computing has raised serious questions about Bitcoin’s long-term security, but the economic consequences could emerge long before the technology seriously threatens the network. Muneeb Ali, founder of Bitcoin layer-2 project Stacks, believes quantum computing risks are already discouraging institutional investment, even as US spot Bitcoin ETFs have amassed more than $104 billion in net assets, according to BitBo data. He warns that BTC has only a few years to prepare for the transition to quantum-resistant security, a process that could take years given the network’s history of slow and contentious upgrades. For insti…
Bitcoin circled $77,000 as crypto markets navigated US stock-market downside, while the gold price fell to its lowest in a year. Bitcoin (BTC) stayed under pressure below $80,000 at Friday’s Wall Street open as AI fears returned to intensify a broader risk-asset rout. Key points:
A US fusion startup says it has turned mercury into gold. Could a potential increase in the gold supply strengthen Bitcoin’s claim to be a better form of digital gold? They say all that glitters is not gold, and that took on a completely different meaning this month when a US fusion startup claimed it had produced gold from mercury. Rather than chemical trickery, Marathon Fusion’s process relies on nuclear transmutation. Its research paper describes how high-energy neutrons from a deuterium-tritium fusion reaction can irradiate mercury-198, producing a radioactive isotope that decays into stable gold-197. So, if gold has what some are calling an “infinite mint bug,” what will happen to the centuries-old metal so revered for its scarcity? And what, if anything, could that mean for Bitcoin a…
Bitcoin held above $76,000 after a $6.3 billion Binance hack and a tech-stock sell-off, as momentum indicators pointed to a possible rebound. Bitcoin (BTC) traded above $77,000 on Friday as crypto market liquidations passed $1.5 billion over 24 hours. Key points:
The attackers held 18,270 BTC early Friday, topping Coinbase’s reported corporate holdings, and an Ether stash exceeding 500,000 ETH. The attackers behind the $6.3 billion Binance hack held more Bitcoin on Friday than crypto exchange Coinbase’s holding for investment and operation at the end of September. Blockchain analytics firm Bitquery traced 18,270 Bitcoin (BTC), worth roughly $1.4 billion, to 19 addresses linked to the attacker. Coinbase reported holding 17,954 BTC for investment and 117 BTC for operations as of Sept. 30, a combined 18,071 BTC. The Binance hacker’s haul exceeded that total by 199 BTC. Coinbase’s holdings does not include the BTC that the exchange holds for customers.
Michael Saylor says Strategy could create up to $30 billion in digital credit without new common-stock fundraising or further Bitcoin price gains, as the company plans more BTC purchases. Bitcoin treasury company Strategy is looking to finance more Bitcoin purchases through preferred-share offerings, with executive chairman Michael Saylor saying it has the capacity to create as much as $30 billion in digital credit. During Strategy’s third-quarter earnings call, Saylor said the company could generate the amount using its existing balance sheet, without an additional common-stock capital raise or further Bitcoin price appreciation. “We could create $10 billion, $20 billion, $30 billion of digital credit,” Saylor said.
