Bhutan mines Bitcoin with hydropower since BTC price was $5,000

The Kingdom of Bhutan is bullish on Bitcoin (BTC). Following the revelation that the small Himalayan Kingdom of Bhutan has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations. Known for its focus on “Gross National Happiness” and picturesque landscapes, Bhutan has found ways to harness its immense hydroelectric potential, which accounts for 30% of its GDP. First reported in an exposé in local Bhutanese News followed by inquiries from Forbes, Bhutanese…

‘Good luck bears’ — Bitcoin traders closely watch April close with BTC price at $29K

Bitcoin (BTC) narrowed volatility on April 30 as the weekly and monthly candle closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees BTC price upside capped at $32,500 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it loitered just above $29,000 throughout the weekend. After unsettled price action earlier in the week, Bitcoin returned to sideways trading, with markets witnessing an eerie calm despite the potential for volatility thanks to lower weekend liquidity. As such, traders were hopeful that no unwelcome surprises would greet the candle…

Bitcoin BTC Price Holds Steady as Investors Look Toward Next FOMC Meeting

The largest cryptocurrency by market capitalization was recently trading at about $29,500, up roughly 2.2% over the past 24 hours. BTC topped $30,000 at one point, near its earlier week highs but still well off its April peak close to $31,000. Still, investors seem to have forgotten Wednesday’s dramatic seesawing when the crypto dipped to around $27,200 amid a mass liquidation of short and long positions and separate unfounded rumors of bitcoin sales – by the U.S. government and of crypto from failed exchange Mt. Gox – before rebounding. Author:…

What’s Next After Bitcoin $BTC Price Retreat

The big story in crypto markets last week was that ether (ETH), turned lower, erasing all price gains notched during the weeks-long mini-rally that followed the seamless implementation on April 12 of the Ethereum blockchain’s highly anticipated Shanghai upgrade. Bitcoin (BTC) reversed course as well, losing its foothold above $30,000 and changing hands around $27,800 around press time. Author: James Rubin Source link

Bitcoin price crawls 2.5% off lows as weekly chart risks ‘bearish engulfing’

Bitcoin (BTC) sought to snatch back lost ground on April 23 as ten-day lows remained in place. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $26,600 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose to circle $27,700 at the time of writing. Up around 2.5% from the lows set the day prior, the pair remained on traders’ radar as a potential short opportunity into the weekly close. “$26,600 is my target in my short position right now, and being the weekend it…

Bitcoin price sets up for an explosive move as ADA, XLM, AAVE and CFX turn bullish

The long weekend has not produced any fireworks in Bitcoin (BTC) price, which continues to trade inside an ever-narrowing range. Bitcoin is on track to form a third consecutive Doji candlestick pattern on the weekly chart. This suggests that the Bitcoin bulls and the bears are not clear about the next directional move. It is not only Bitcoin that is stuck inside a range. On April 7, Jurrien Timmer, director of global macro at asset manager Fidelity Investments, tweeted that the S&P 500 Index had been stuck inside a range…

Bitcoin price jumps above $28K after 1.5K BTC shorts ‘blown out’

Bitcoin (BTC) headed back to $28,000 on March 29 as a classic short squeeze took the market to five-day highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC liquidations mount as Bitcoin reverses Binance dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp. The abrupt uptick came courtesy of exchanges , where a band of shorts were “blown out” to remove resistance and allow higher levels to return. As noted by analyst Skew, these shorts were left over from Bitcoin’s prior moves, and were worth…

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

Ethereum’s native token, Ether (ETH), continues its multi-month downtrend against Bitcoin (BTC) in March, rising 5.5% versus the latter’s 19.5% gains on a month-to-date (MTD) timeframe. Bitcoin overshadows Ethereum amid banking crisis As of March 23, the ETH/BTC pair was down about 9% month-to-date (MTD) to 0.0633 while staying on course to record its worst month since September 2022 when it fell 11.75%. ETH/BTC monthly price chart. Source: TradingView From a fundamental perspective, traders preferred Bitcoin over Ether, hoping it would protect them from the ongoing banking turmoil in the…

Watch these 5 cryptocurrencies for a potential price rebound next week

Traders dumped risky assets following the crisis and failure of Silicon Valley Bank (SVB). The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week.  The collapse of SVB led to a crisis in the crypto space with USD Coin (USDC) losing its peg to the U.S. dollar on reports that $3.3 billion of Circle’s $40 billion of USDC reserves were held at SVB. After trading near $0.87 on March 11, USDC has climbed up above $0.96 at the time of publication. SVB’s failure has increased…