Bitcoin recovered after four consecutive weeks in the red, surpassing the key $89,600 flow-weighted cost basis of Bitcoin ETF holders, the most significant cohort driving BTC inflows.
The fire forced the facility to go offline to maintain safety, but none of the company’s mining hardware was damaged in the incident.
Cleanspark, Riot, Cipher and Circle rose higher as the odds of a US rate-cut in December reached its highest level of the month on the prediction market.
Bitwise crypto researcher André Dragosch said, “We’re staring at a similar macro setup” for Bitcoin as during the COVID-19 pandemic.
Bitcoin and several altcoins continue to show strength, but charts suggest that each needs a strong close above a key exponential moving average to continue the uptrend.
Cooling US labor data is shifting growth expectations, rate paths and liquidity, creating new macro pressures for Bitcoin and the broader crypto market.
The crypto sentiment indicator has moved up from extreme fear, and other social media indicators suggest sentiment is moving more bullish toward Bitcoin.
Arthur Hayes says Monad’s token structure makes it vulnerable to a brutal selloff, while predicting money printing will fuel the next major crypto rally.
Bitcoin mining in China is rising again. From dominance to ban to resurgence, this makes an engaging story.
Tokenization promises faster and cheaper markets, but the IMF warns that new risks and government intervention will accompany the shift to programmable finance.