Tag: Bitcoin

Bitcoin Surfs $70,000 as Markets Weather New Hormuz Oil Route Blockade

admin

Bitcoin (BTC) held $70,000 at the weekly close as markets reacted to a breakdown in US-Iran negotiations and escalating tensions around the Strait of Hormuz. A breakdown in US-Iran negotiations sends oil surging above $100 per barrel, with the Strait of Hormuz now blockaded. US PPI inflation data is due amid signs that the oil crisis is far from the only driver of price increases. Bitcoin manages a weekly close above $70,000, but a trader says new lows remain on the roadmap. Profit-taking is what keeps Bitcoin unable to hold…

Musician Loses $420K Bitcoin From Fake Ledger App

admin

Blockchain sleuth ZachXBT said Garrett Dutton’s 5.9 Bitcoin has already been sent to deposit addresses associated with KuCoin. Garrett Dutton, an American musician better known as “G. Love,” said he lost $420,000 worth of Bitcoin after installing a malicious app impersonating the self-custody crypto app Ledger Live from Apple’s App Store and entering his seed phrase. “I had a really tough day,” Dutton told his 67,500 followers in a post on X on Saturday, adding that he lost his 5.9 Bitcoin (BTC) stash “in an instant” after spending about 10…

Bitcoin Mining Centralizes as AI Decentralizes: Galaxy Research

admin

Bitcoin mining runs the risk of becoming more centralized as time goes on, while artificial intelligence could be moving in the opposite direction, according to Galaxy Research head Alex Thorn. Thorn said that while Bitcoin mining began decentralized, with users mining Bitcoin on their personal computers, it has since become far more centralized, requiring ASIC miners or industrial-scale farms.  “AI may follow the opposite path,” said Galaxy’s research head Alex Thorn on Sunday, explaining that AI started centralized in giant hosted clusters, but as frontier models experience “data scarcity, context…

Bitcoin Down, Oil Up Amid US Strait of Hormuz Blockade

admin

US President Donald Trump said Iran did not want to compromise its nuclear weapons program, stating it was the only issue that “really mattered.” Bitcoin fell as low as $70,623 on Sunday after the US announced a blockade of the Strait of Hormuz following failed peace talks with Iran. The price of Bitcoin (BTC) initially fell 1.9% to $71,686 after US President Donald Trump confirmed the blockade in a post to Truth Social on Sunday, adding that peace talks collapsed because Iran refused to end its nuclear program — the…

Bitcoin Falls As US-Iran War Negotiations Fail In Pakistan

admin

Bitcoin (BTC) fell 3% to trade below $71,000 into Sunday’s weekly close after negotiations to end the US-Iran war broke down. Key points: Bitcoin shed its gains as negotiations between the US and Iran broke down. The Strait of Hormuz becomes a flashpoint again as US President Donald Trump demanded that it be reopened. BTC price downside punishes late long positions. BTC price drops on US-Iran war fears Data from TradingView showed BTC price action dipping below $71,000 after news of a sudden breakdown in negotiations between the US and…

Michael Saylor Hints Strategy is Buying More Bitcoin

admin

Michael Saylor, the co-founder of Bitcoin (BTC) treasury company Strategy, signaled that the company is acquiring more BTC, as the price retreated from the local high of over $73,000 reached this week. “Think bigger,” Saylor said on Sunday, while sharing the chart of Strategy’s BTC purchase history that has become synonymous with imminent BTC acquisitions. Strategy’s most recent BTC purchase was April 6, when it bought 4,871 coins for more than $329.8 million, bringing its total holdings to 766,970 BTC, valued at about $54.5 billion using market prices at the…

Bitcoin Miners Face a Tougher Road to the 2028 Halving

admin

Bitcoin’s fifth halving is roughly two years away, and the mining sector is heading into it with far less margin for error than in 2024, as higher costs, tighter energy markets and clearer regulation reshape the industry. At the last halving in April 2024, Bitcoin (BTC) traded at around $63,000 as rewards fell from 6.25 BTC to 3.125 BTC per block, according to Coingecko. In April 2028, at the next halving, miners face higher input costs for half the new coins, as rewards drop to 1.5625 BTC. That looks tougher…

Trump announces Strait of Hormuz blockade as Iran nuclear talks collapse, Bitcoin extends losses

admin

Bitcoin deepened its losses on Sunday morning after President Donald Trump stated that the US would move to impose a naval blockade of the Strait of Hormuz after diplomacy talks with Iran failed to produce an agreement over Tehran’s nuclear program. In a statement on Truth Social, Trump said recent negotiations with Iranian officials, led by Vice President JD Vance ended without agreement on Tehran’s nuclear program, which he described as the “only point that really mattered.” He reiterated his position that Iran must not be allowed to develop nuclear…

Bitcoin, Ether Near Levels That Could Signal Trend Reversal: Investor

admin

Bitcoin and Ether aren’t far from levels that could signal a trend reversal this year, despite a growing consensus across the industry calling for a bear market, according to macro analyst Jordi Visser. “If we trade above $76,000 and at the same time we see Ethereum above $2,400, I believe that is the beginning of a move that will be sustainable this year because I don’t think we’re going to have a recession,” Visser said on the Anthony Pompliano podcast published on YouTube on Friday. A move to $76,000 would…

US and Iran fail to reach deal after ceasefire, Bitcoin retreats

admin

Bitcoin slid 2% on Saturday evening, dropping from above $73,000 to around $71,310, after US and Iran failed to agree on terms during high-stakes negotiations in Islamabad, Pakistan. Vice President JD Vance, who led the US delegation, confirmed that talks between the US and Iran in Islamabad, Pakistan, concluded without an agreement. Vance stated that Iran rejected the US position, emphasizing that Washington requires a fundamental commitment from Tehran to abandon its nuclear weapons development. Vance noted that the negotiations spanned 21 hours and involved frequent consultations with President Donald…