‘Violent’ Bitcoin breakout due as BTC open interest nears all-time high

Bitcoin (BTC) stayed rangebound at the Oct. 6 Wall Street open with traders already planning for a “violent” breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin whale activity highlights the importance of $19,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it moved up and down by only a matter of a few hundred dollars on the day. The amount of $20,000 formed a focus for the pair, which meandered in step with consolidating U.S. equities and dollar strength. With no spot catalyst in sight on short…

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Bitcoin miner profitability under threat as hash rate hits new all-time high

The Bitcoin hash rate hit a new all-time high above 245 EH/s on Oct. 3, but at the same time, BTC miner profitability is near the lowest levels on record.  With prices in the low $20,000 range and the estimated network-wide cost of production at $12,140, Glassnode analysis suggests “that miners are somewhat on the cusp of acute income distress.” Bitcoin network hash rate. Source: Hashrate Index Generally, difficulty, a measure of how “difficult” it is to mine a block, is a component of determining the production cost of mining…

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Bitcoin price sets October high with $20K in reach as US stocks rally

Bitcoin (BTC) climbed to new October highs at the Oct. 3 Wall Street open as Credit Suisse concerns heightened.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders close in on rangebound BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD taking aim at $19,500 after starting the month flat. The largest cryptocurrency reacted positively to lower than expected United States manufacturing data, while in Europe, market turmoil over Credit Suisse gathered pace despite executives’ reassurances. “We are kicking off October trading in the same congested area we ended September,”…

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NYDIG raises $720M as Bitcoin balance hits all-time high

The bear market has not deterred one of the biggest Bitcoin (BTC) bulls. The balances of the New York Digital Investment Group, or NYDIG, hit record highs in Q3 of this year. Plus, a United States Securities and Exchange (SEC) filing could reveal the group’s intent to add more Bitcoin to its balance sheet.  According to a press release, NYDIG’s Bitcoin balances are “up almost 100% year-over-year, and revenue is up 130% through Q2, with another increase when the firm closes its books on Q3.” The company HODLs more Bitcoin…

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XRP hits 13-month high versus Bitcoin with 35% daily surge — But is a correction inevitable?

XRP price posted a sharp rally against Bitcoin (BTC) on continued optimism about a potential settlement between Ripple, a San Francisco-based blockchain payment firm, and the U.S. Securities and Exchange Commission (SEC). Settlement rumors fuel XRP price boom  On Sep. 23, the XRP/BTC pair surged to 0.00002877 — its best level in 13 months — from 0.00002132, a 35% price rally versus Bitcoin in one day. Meanwhile, the same timeframe saw XRP rising as much as 42% against the U.S. dollar. XRP/BTC and XRP/USD daily price chart. Source: TradingView The big…

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Bitcoin ‘nuke’ warning as Fed rate hike decision looms — dollar index hits 20-year high

Bitcoin (BTC) underwent a weak rebound on Sep. 21, and the U.S. dollar jumped to a new yearly high as investors await today’s Federal Open Market Committee’s interest rate decision. BTC price hold $19K ahead of Fed decision BTC’s price has managed to cling on to $19,000 with a modest daily gain of 1.33% . Meanwhile, the U.S. dollar index (DXY), which measures the greenback’s strength versus a pool of top foreign currencies, rose to 110.86, the highest level in twenty years. BTC/USD vs. DXY daily price chart. Source: TradingView…

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Bitcoin, Ethereum crash continues as US 10-year Treasury yield surpasses June high

Bitcoin (BTC) and Ethereum’s native token, Ether (ETH), started the week on a depressive note as investors braced themselves for a flurry of rate hike decisions from central banks, including the U.S. Federal Reserve and Bank of England. Bitcoin price fails to hold $20,000 On Sep. 19, BTC’s price has failed to regain the $20,000 psychological support zone. The BTC/USD pair slipped by 6.5% to around $18,250, while ETH dropped 4% to approximately $1,280. Their gloomy performance came as a part of a broader decline that started in mid-August, wherein…

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ATOM Maintains “Market’s Biggest Mover” Tag, Sustains 4-Month High

Cosmos’ native crypto continues its bullish run up to a 40% bullish gain while other cryptos ebb and flow; NEAR follows with a multi-week high. The native coin of Cosmos protocol, ATOM continues to move upward, hitting new highs every day. At the time of writing, the crypto is trading at $14 after briefly hitting $16 earlier today. It had hit a 4-month high of $13.92 on Thursday amidst the broader crypto market bounce back. That was after the Wednesday dip when ATOM price dropped to just below $12. Ever…

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Bitcoin hits 3-week high as trader says ‘all signs there’ to short BTC

Bitcoin (BTC) kept grinding higher at the Sep. 12 Wall Street open as traders called for an imminent correction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $23,000 proves essential to flip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $22,481 on Bitstamp, its highest since Aug. 19. The pair had preserved existing gains over the weekend, with a declining U.S. dollar providing a catalyst for risk assets as the week began. The S&P 500 and Nasdaq Composite Index both traded up 1.1% after the first two hours’ trading.…

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Ethereum Merge can trigger high volatility, BitMEX CEO warns

The Ethereum Merge is one of the most anticipated events in the crypto space this year. Because of this, crypto firms are on the lookout for any hiccups that may occur as the newly upgraded Ethereum network comes to life.  In a Cointelegraph interview, Alexander Höptner, the CEO of crypto exchange BitMEX, shared how their trading platform is preparing for the Merge, talked about the potential of institutional adoption after the transition to proof-of-stake (PoS) and gave his thoughts on Bitcoin (BTC) and Ether (ETH).  According to Höptner, apart from…

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