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Bitcoin, the world’s leading cryptocurrency, has seen a significant resurgence in its market value, climbing back up to $59.3K after a period of volatility. This surge is accompanied by an intriguing indicator: 84.4% of the network’s available supply is now in profit, marking its lowest level in two months. Traditionally, such dips in this ratio … Read more
Analysts forecast a Bitcoin run above $100,000 now that BTC reclaimed the $61,000 level. Go to Source
Riot Platforms Inc., an integrated bitcoin mining company, reported revenues exceeding $79.3 million in the first quarter of 2024. The revenue increase was slight, rising from $73.2 million to $79.3 million. Remarkably, this was achieved even as Riot Platforms experienced a 36% decrease in the number of bitcoins mined, down to 1,364. Modest Growth Noted … Read more
Block, Inc. co-founder Jack Dorsey told shareholders its Bitcoin-buying plan during an earnings call, saying its an “investment in a future where economic empowerment is the norm.” Go to Source
A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger … Read more
The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term. Go to Source
Alliance Resource Partners (ARLP), a coal mining company in the U.S., recently disclosed its use of underutilized electricity loads for bitcoin mining. Cary Marshall, the company’s CFO, revealed that ARLP concluded the first quarter of 2024 with an approximate total of 425 bitcoins. Marshall also stated that during the first quarter, ARLP mined 61 bitcoins … Read more
Bitcoin’s prolonged correction is driven by a sharp decrease in demand for nearly all investor cohorts. Go to Source
While the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow mark of $59,000. Go to Source
Bitcoin’s current price action is “hardly a surprise” given the extraordinary bullish action leading up to the fourth halving. Go to Source
