Market focus

While the crypto market is a hot mess, leaving many investors struggling to turn a buck, the arbitrageurs enter – Lisa Pauline Mattackal and Medha Singh write for Reuters. Bitcoin and other cryptocurrencies have either been shackled to ranges or in decline since January, leaving your regular buy-and-hold investor with little option but to sell…

Data from blockchain analytics firm Glassnode reveals that more than half of Bitcoin wallet addresses are still in profit, raising questions about the severity of the current market sell-off as Bitcoin fell below $20,000 over the last weekend. Despite Bitcoin bouncing back by Tuesday to over the $21,000 level, Morgan Stanley and Goldman Sachs warned…

FTX founder and CEO Sam Bankman-Fried said his Alameda Research and FTX could “step in” the situation with Celsius and Three Arrows Capital to prevent further contagion across the crypto sector. He also rejected rumors that Alameda played a part in jeopardizing the stability of Celsius. The downward trajectory that has greeted the crypto market…

Breaking crypto news from the last week (June 11 – 17, 2022): June 11: The $1.19 trillion crypto economy is now lower in value than the July 2021 lows. Over the last week, digital currencies like Bitcoin, Ethereum, Cardano, and XRP, have shed significant value against the US dollar, as the top cryptos have lost…

The shift from Proof-of-Work (PoW) to Proof-of-Stake (PoS) will cut power consumption sharply – and leave some expensive technology searching for new uses, write Olga Kharif and David Pan on Bloomberg. The Ethereum mining community is a diverse bunch, geographically and demographically. There’s a 28-year-old translator in Ukraine, running computing hardware on his balcony to…

On Saturday evening, at 20:30 UTC, Bitcoin plunged to about $17,749, and Ether fell to about $897 as the sell-off in the crypto market accelerated. The world’s two most popular cryptocurrencies are down more than 35% in the past week, as both breach symbolic price barriers. Two hours later, at 22:30 UTC, Bitcoin bounced back…