Crypto News

- U.S. Treasury Secretary Scott Bessent issued stern words Thursday to crypto stakeholders who think they can live without a market structure bill, stating it’s “impossible to proceed” with regulating crypto in the United States if the legislation does not pass Congress. “There seems to be a nihilist group in the industry who would prefer no regulation over this very good regulation,” Bessent said during testimony today before the Senate Banking Committee. “We have to get this Clarity Act across the finish line,” the Treasury Secretary added a few minutes later. “Any market participants who don’t want it should move to El Salvador.” Bessent’s comments came weeks after Coinbase, America’s top crypto company, abruptly pulled support...

- Bitcoin collapsed below the psychological $70,000 support level Thursday, marking a 15-month low as markets aggressively repriced the liquidity outlook under incoming Federal Reserve Chair Kevin Warsh. The world’s largest cryptocurrency fell as low as $67,619. The rout erased $40 billion from open interest in under 48 hours, showing a capitulation of leveraged longs. The catalyst? The market’s digestion of President Trump’s nomination of Kevin Warsh. While Warsh is historically pro-crypto, calling Bitcoin “new gold,” traders are fleeing his well-known stance on balance sheet reduction. The Liquidity Vacuum Spot ETF flows exacerbated the decline, with total assets under management sinking below $100 billion for the first time in...

- Stock Market Today: Bonds and Bitcoin Sell Off on AI, Economic Fears Financial markets tumbled Feb. 5 as concerns about the economy and overheated assets galvanized investors. Just before noon on Wall Street, the broad S&P 500 was down more than 1%, near 6,810, while the Dow Jones Industrial Average was 1% lower, near 49,025. The tech-heavy Nasdaq Composite lost 1.2% to trade near 22,636. All three major indices were off earlier lows, however. Stocks have been battered by back-and-forth signals from earnings reports about the impact of AI on corporate bottom lines. On Feb. 4, Google parent Alphabet said it was planning to spend as much as $185 billion on capital investments to accommodate new technology. The stock was down more...

- Crypto Exchange Gemini Slashes Jobs Amid Exit From Europe, Australia Publicly traded crypto exchange Gemini is closing shop in the United Kingdom, European Union, and Australia and cutting a quarter of its employees, the firm announced on Thursday. The move aims to reduce Gemini’s operating expenses and improve its path to profitability, while allowing it to “focus” on what it said are clearer opportunities like prediction markets. “Gemini started in America in 2015. Since then, we expanded our areas of operation to more than 60 countries,” founders Tyler and Cameron Winklevoss wrote in a post about the decision. “These foreign markets have proven hard to win in for various reasons and we find ourselves stretched thin with a...

- Bitcoin nears $67,000, hitting lowest level since October 2024 Bitcoin (BTC-USD) tumbled close to $67,000 on Thursday, touching its lowest level since October 2024. The token is down more than 45% from last year’s all-time high, erasing all of the gains made during President Trump’s second term. Investors had been optimistic the administration’s crypto-friendly policies would lift digital-asset prices. Despite the intense selling, some bitcoin strategists say the token may not have reached a bottom yet. "Bitcoin remains in a larger bear-market structure," read a 10X Research note on Thursday. "In the absence of a strong catalyst and with positioning still stretched, downside risks remain elevated." Notably, the firm points to a...

- XRP Leads Crypto Losses as Ethereum, Dogecoin Prices Crater Alongside Bitcoin XRP was the worst-performing altcoin among the leading cryptocurrencies Thursday morning, showing a 15% drop over the last 24 hours as markets swing bearish and Bitcoin extends its losses. At the time of writing, XRP was trading for $1.30 after having dropped roughly 28% in the past week, according to crypto price aggregator CoinGecko. An earlier dip to $1.28 marked the lowest price for the Ripple-linked asset since November 2024, when XRP surged in the wake of President Trump's election win. It's also the biggest daily drop of any coin in the top 100 cryptocurrencies by market cap over the last day. Ethereum was recently trading at $1,985 after...

- Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee and settle in — the market’s been on a rollercoaster lately. Bitcoin is moving, stocks are shifting, and headlines are coming fast. While some investors are hitting pause, others are watching closely, trying to read the signals beneath the noise. Crypto News of the Day: Bitcoin Slides Below $68,000 Amid Forced Deleveraging Bitcoin fell below $70,000 on Thursday, before extending a leg down to levels below $68,000, an area last tested on October 28, 2024. The move came as intensified selling swept across crypto markets. The decline marks roughly a 45% drop from October highs, fueled by...

- Bitcoin's monthslong slide continues, hitting fresh 15-month low of $67,000 The price of bitcoin continued its monthslong slide Thursday, falling another 11% to $67,000, its lowest level in 15 months. The original cryptocurrency, pitched as “digital gold,” has lost 46% of its value since Oct. 6, when it hit a record high of $126,210.50. As of 10:30 a.m. EST Thursday, its price had dipped to $67,245. After the election of President Donald Trump in November of 2024, Bitcoin prices chugged higher for the better part of a year, in part due to investors' expectations of a more crypto-friendly administration in Washington. Companies that enable investors to buy and sell cryptocurrencies, as well as the growing number of companies who...

- US stocks turned lower on Thursday in a fruitless search for a reprieve from a building tech sell-off as investors awaited Amazon earnings, assessed Alphabet's big AI spending plans, and digested jobs data that signaled fresh weakness in the labor market. The S&P 500 (^GSPC) moved roughly 1.2% lower, while the Nasdaq Composite (^IXIC) shed 1.5%. The Dow Jones Industrial Average (^DJI) lost over 1%, or more than 500 points. The market is in the midst of a trillion-dollar tech wipeout, as investors weigh whether some software stocks took too big a beating. The losses have been spurred by worries about AI disruption to established software players — a risk that had been overlooked by investors focused on the fallout from massive AI...

- Bitcoin price sinks below $67,000 after Bessent says the US government can't tell banks to bail out crypto Bitcoin (BTC-USD) dropped to $67,000 per token on Thursday, falling to its lowest level since 2024 as selling pressure intensified. The token extended losses from the prior session after Treasury Secretary Scott Bessent signaled that the US government would not step in to support the cryptocurrency market. In a heated back-and-forth during a House Financial Services Committee on Wednesday, Bessent was asked if the US Treasury had the authority to buy bitcoin or other cryptos. "I do not have the authority to do that, and as chair of FSOC, I do not have that authority," Bessent stated. Bitcoin fell to as low as $67,073 apiece...

- The price of Bitcoin crashed below $67,000 on Monday, representing its lowest level since before U.S. President Donald Trump’s electoral victory 15 months ago. As of this writing, the digital asset’s price had fallen 23% over the past week to a recent price of $66,753, according to CoinGecko. Ethereum and Solana showed greater losses, respectively diving nearly 33% to $1,936 and 30% to $84 over the same period of time. The cryptocurrencies extended losses as tech stocks wavered on Wall Street. The tech-heavy Nasdaq fell 1.6%, while the S&P 500 declined 1.2%, according to Yahoo Finance. Market Sentiment As sentiment in the crypto market takes a major hit, Carlos Guzman, a research analyst at crypto trading firm GSR, told Decrypt...

- MicroStrategy Falls 22% as Bitcoin Losses Mount — Why a Rebound Case Still Exists MSTR price has fallen nearly 22% over the past month, closely tracking Bitcoin’s roughly 23% decline over the same period. As Bitcoin’s weakness deepens, pressure is also building on MicroStrategy’s massive BTC treasury. Recent estimates show more than $3.5 billion in unrealized, or “paper,” losses on its Bitcoin holdings. That drawdown has pushed some Wall Street firms to slash price targets, including a sharp 60% cut from one major analyst. Still, technical charts and capital flow data suggest MicroStrategy’s long-term rebound case is not fully broken. Here is what the charts are really showing. Bullish Wedge and Rising CMF Show Big Money Is Still...

- Bitcoin has entered a critical phase after its recent correction dragged the price toward the $70,000 level. Viewed through a macro lens, this move has exposed BTC to elevated downside risk. Several on-chain and technical indicators now align with a bearish outlook. However, large holders are actively accumulating, attempting to slow or reverse the developing trend. Bitcoin Loses A Major On-Chain Support Bitcoin has dropped below the True Market Mean for the first time since September 2023. This metric reflects the aggregate cost basis of actively circulating supply. Trading below it signals weakening conviction among participants and marks a structural shift in market behavior. The loss of this anchor confirms deterioration that...

- Bitcoin (CRYPTO: BTC) has fallen more than 35% from its all-time high, plunging well below that $100,000 milestone. Why? It could be several things. Generally speaking, investors have been shying away from riskier assets in recent weeks. What's clear, though, is that Bitcoin's decline is normal. It suffered a decline nearly twice as dramatic as recently as 2023. Meanwhile, Bitcoin's price has risen by an astronomical 20,900% over the past decade, even after the recent dip. Nobody can know for sure what the future holds, but no one has gotten wealthy from Bitcoin without stomaching some volatility along the way. Here are three reasons why it's the best cryptocurrency to spend $100 on right now. 1. Bitcoin has historically survived...

- Bitcoin's Price Fell Below $70,000. That Means Extra Attention on Strategy's Earnings. Key Takeaways Bitcoin has slipped below another five-digit milestone. The leading cryptocurrency by market capitalization—at about $1.39 trillion according to CoinMarketCap—recently changed hands at prices not seen since late 2024, dropping below $70,000 apiece. The price hasn't been cut in half since its record highs of around $125,000, recorded last fall, but the retreat is nevertheless severe. The latest round of defections from bitcoin has come as investors have lately moved away from risk assets and, in some cases, shifted portfolio allocations toward more defensive plays. Why This Matters to Crypto Investors The dramatic pullback in...

- India Monitoring Evolving Crypto Trading to Ensure Tax Compliance, Top Tax Official Says NEW DELHI, Feb 5 (Reuters) - India is talking to cryptocurrency exchanges to assess evolving trading activity as it seeks oversight over newer crypto products, according to a top tax official. India does not regulate cryptocurrencies, but global crypto exchanges such as Binance, Coin DCX, Coinbase, and Zebpay operate in the country after registering with a government agency. Asia's third-largest economy has imposed punitive taxes on gains from cryptocurrencies and the local central bank has repeatedly cautioned against the risks from crypto trading. "Every day the profile of (cryptocurrency) transactions is changing. We need to understand new...

- XRP Traders More ‘Optimistic’ As Sentiment Collapses For Bitcoin And Ethereum, Says Analytics Traders are showing comparatively stronger optimism toward XRP as sentiment around Bitcoin and Ethereum deteriorates sharply following a fledgling crypto market, according to data from blockchain analytics firm Santiment. The divergence comes as Bitcoin slumps to multi-month lows amid a technical breakdown and new revelations that no government backstop exists for the asset class. Meanwhile, XRP traders point to both sentiment data and long-running industry rivalries as potential positive tailwinds. Santiment Flags Bearish Mood for Bitcoin, Ethereum Santiment said sentiment across the crypto market has turned decisively negative over...

- Silver and Bitcoin Prices Continue to Plunge on Thursday As Wall Street looks to recover from a miserable past few trading days, investors continued their retreat from Bitcoin and silver on Thursday. In the early morning hours, Bitcoin briefly fell below the $70,000 price point, a level which it hasn't seen since November 2024. At the same time, silver investors were dumping the precious metal with prices falling as much as 16% following two days of gain. Bitcoin enthusiasts had hoped the $70,000 level was a floor for the digital currency – and prices did begin to rebound after hitting that price for a bit, but by 7:30 a.m. ET, the fall resumed, with the price nearing $69,000. Silver, similarly, saw a brief bounce following its...

- ‘Big Short’ Investor Michael Burry Flags Bitcoin Chart Pattern Implying Drop to Low $50,000s Scion Asset Management founder Michael Burry, the hedge fund manager who rose to fame predicting the 2008 housing crisis, has shared a Bitcoin chart on X comparing the current pullback to the 2021–22 crash, implying that BTC could fall to the low $50,000s before finding a durable bottom. Key Takeaways – Burry overlaid Bitcoin’s current drop from $126,000 to $70,000 onto the 2021–22 bear market path, hinting at a slide toward the low $50,000s. – Not everyone is buying it — skeptics point out that a single historical parallel hardly counts as a pattern. – BTC has shed roughly 40% since October’s all-time high and sits near $72,000, weighed...

- Bitcoin price fell below the $70,000 mark on Tuesday, recording an intraday low of $69,922 at the time of writing. This move marks the first time BTC has traded at this level since November 2024, highlighting the intensity of the ongoing correction. The decline was fueled by a combination of macroeconomic bearish signals and aggressive deleveraging across derivatives markets. Over the past 24 hours, cascading liquidations reached approximately $451 million, amplifying selling pressure and accelerating losses. With key psychological support now breached, Bitcoin’s price is increasingly exposed to further downside, with $65,000 emerging as the next critical level to watch if bearish momentum persists. This article has been published...