Streetbeat News

BTCUSD

Bitcoin / US Dollar

Industry

Digital Currency

Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

Bitcoin has experienced a 10% decline in August, with traders predicting further downside in September. Technical indicators suggest short-term weakness, but institutional interest remains strong with significant holdings by major banks and the Norwegian Sovereign Wealth Fund.

Portfolio Pulse from Khyathi Dalal

August 15, 2024 | 3:53 pm

Defiance ETFs has launched MSTX, the first single-stock leveraged ETF for MicroStrategy (NASDAQ:MSTR), offering 175% daily targeted exposure to MicroStrategy’s stock performance. This ETF allows investors to gain leveraged exposure to MicroStrategy’s stock, which is heavily tied to Bitcoin's performance, without needing a margin account. However, it is designed for sophisticated investors due to its high risk.

Portfolio Pulse from Murtuza Merchant

August 15, 2024 | 3:20 pm

Bitcoin's price could be around $20,000 without the support of ETFs, according to Eric Balchunas, Senior ETF Analyst at Bloomberg. ETFs from BlackRock and Grayscale have played a critical role in stabilizing Bitcoin's price. Grayscale’s Bitcoin Trust led outflows with $56.8658 million, while BlackRock ETF saw inflows of $2.6836 million. Ethereum spot ETFs experienced a net inflow of $10.7736 million.

Portfolio Pulse from Murtuza Merchant

August 15, 2024 | 1:42 pm

Bitcoin mining profitability declined in July compared to June, with Bitcoin's price dropping over 6%. Jefferies lowered its price target for Marathon Digital (NASDAQ:MARA) from $22 to $17, maintaining a hold rating. Marathon Digital's shares dipped by 0.7% following the announcement. U.S.-listed mining companies increased their share of the total network hashrate from 20.7% to 21.1%. However, August could be more challenging due to Bitcoin's additional 5% price decline and increased network hashrate.

Portfolio Pulse from Murtuza Merchant

August 15, 2024 | 12:53 pm

Crypto heists have surged 84.4% in 2024, with over $1.58 billion stolen through July. Despite a decrease in overall illicit activity in the cryptocurrency ecosystem, stolen funds and ransomware attacks have increased significantly. Centralized exchanges are being targeted more, with Bitcoin representing 40% of stolen assets. The average amount stolen per incident has risen to $10.6 million. Ransomware payments have also increased, with a single payment reaching $75 million. However, victims are paying ransoms less often, indicating better preparedness. The importance of blockchain analysis and law enforcement actions in combating these threats is emphasized.

Portfolio Pulse from Murtuza Merchant

August 15, 2024 | 12:02 pm

U.S. stocks are poised for a modestly higher start, with the S&P 500 aiming for a sixth consecutive win. Key data on job market, consumer spending, and manufacturing activity, along with retail earnings, will influence trading. Walmart's strong earnings and guidance boost shares, while Alphabet faces potential DOJ action. Cisco and Lumentum see premarket gains on positive earnings. Upcoming economic data and Fed speeches will be closely watched.

Portfolio Pulse from Shanthi Rexaline

August 15, 2024 | 11:29 am

Ethereum co-founder Vitalik Buterin moved 200 ETH to Kraken, sparking speculation about his intentions. This is his first deposit to a centralized exchange this year. Additionally, he transferred 3,200 ETH to multisignature wallets, likely for donations. The market is jittery, but there's no indication of an imminent sell-off.

Portfolio Pulse from Aniket Verma

August 15, 2024 | 4:22 am

Anthony Scaramucci, CEO of SkyBridge Capital, emphasized the need for bipartisan support in cryptocurrency regulation during a virtual town hall organized by 'Crypto for Harris.' He highlighted the importance of neutrality in the industry and expressed confidence in Kamala Harris' regulatory approach. Scaramucci also warned about the potential impact of a Trump administration on the Federal Reserve and courts, while supporting Trump's stance on Bitcoin.

Portfolio Pulse from Aniket Verma

August 15, 2024 | 3:43 am

Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced a dip as the U.S. government transferred $593 million worth of seized Bitcoin. Despite positive CPI data, Bitcoin's price fell after initially rallying. The global cryptocurrency market shrank by 1.90% in the last 24 hours. Analysts see potential for Bitcoin to move higher due to the likelihood of a Fed rate cut.

Portfolio Pulse from Aniket Verma

August 15, 2024 | 2:07 am

Peter Schiff criticized the July CPI figure as misleading, attributing the modest 2.9% increase to a significant drop in used car prices. He warned that the market, which expects a September rate cut, will crash if the Fed does not deliver. The Core CPI rose by 3.2%, consistent with expectations but still above the Fed's 2.0% target. Mohamed El-Erian also criticized the Fed for not reducing rates in July, while Home Depot's CEO noted that inflation is affecting consumer spending on home renovations.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 2:03 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.