Net loss came to $57.2 million, narrowed from $81.8 million in the first quarter. A $71.2 million non-cash loss on digital assets ran through operating expenses, and the operating loss was $74.1 million while Bitcoin fell about 12% over the quarter. CryptoPotato reported on the $81.8 million first-quarter loss that landed alongside a then-record 817 […]
Bitcoin mining has long become a massive business niche in which the individual miner has been sidelined, but there are occasional exceptions. A single miner managed to mine block number 960804, which secured them the 3.125 BTC prize, worth roughly $200,000 at today’s prices. Pseudonymous software developer at CKPool, Dr -ck, was among the first to […]
The cryptocurrency market has been stuck in a prolonged bear market for several months, while in the last few days, some well-known exchanges announced they will shut down operations. This sounds like concerning news that could trigger additional panic across the community, yet certain industry participants believe it may also mark the cycle’s bottom. It’s […]
Jack Mallers says Bitcoin’s bear market has left him “getting my ass kicked,” but the Strike founder believes that is exactly what makes the asset different from traditional financial systems. In an essay published Friday, just days after stepping down as CEO of Twenty One Capital, Mallers argued that Bitcoin’s painful downturns expose reality instead […]
Bitcoin momentum is rebuilding, but confirmation has not arrived yet, said analytics platform Swissblock on Monday as BTC tapped a five-week high of $65,700. “Bitcoin has exited its capitulation regime and is once again inside the transition area,” they added. Swissblock identified the current area as “where a new impulse begins, or momentum fades back […]
A Duke University finance professor, Campbell Harvey, has said that a 51% attack on Bitcoin, long dismissed as a theoretical exercise that would only destroy value for whoever tried it, has quietly become something an attacker could profit from because of today’s derivatives markets. However, many BTC supporters dismissed the claim made during the July […]
Bitcoin corporate treasury firms became a major thing in the past couple of years, led, of course, by Michael Saylor’s Strategy. Several such entities emerged during more favorable times for the entire crypto industry. Now, though, the landscape has changed, and there’s a new seller on the horizon. Empery Digital has disposed of 1,400 BTC […]
Bitcoin is showing “early signs of stabilization” as the price momentum exits an extreme negative regime, reported analytics firm Swissblock on Tuesday. It added that on-balance volume (OBV) is also starting to support the regime shift and “recovery begins with momentum, but a new trend requires buyers to follow.” OBV is a momentum indicator that uses […]
A dispute over Bitcoin’s proposed BIP-110 soft fork has intensified after critics argued that the upgrade could break certain wallets and leave some users with permanently unspendable BTC if it activates. This is according to crypto investment advisor Farside Investors, who were challenging claims made by BIP-110 supporter Fred Krueger in a June 28 post […]
Analyst ‘Reflection’ warned of a brutal Bitcoin liquidation cascade below $59,000, claiming over $1.6 billion in long leverage is stacked in one zone around $58,000 based on CoinGlass data. “In all my years trading, I’ve never seen this much long-side liquidity stacked in one single zone,” they said on Wednesday. That liquidation zone is not […]