Bitcoin Activity Soars Post SWIFT Ban On Russia, BTC At Do Or Die Spot?
Bitcoin has found temporal support at $39,000, but buyers have been scarce as the market enters into weekend price action. Uncertainty around macro factors seems to be growing with the Russia-Ukraine conflict contributing with the selling pressure experience by BTC and larger cryptocurrencies over the past days. Related Reading | Market Update: Crypto Market Rebounds As Tech firms Boycott Russia At the time of writing, Bitcoin trades at $39,168 with a 4.2% loss in the past 24 hours. The benchmark crypto saw some relief before the current downside action. Per a report from research....
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The first deputy governor of the Central Bank of Russia (CBR) has been vocal in a recent online meeting, reported by Russia Today (RT), about the topic of digital currencies challenging the SWIFT international payments system and make it redundant. Digital Currencies Could Challenge SWIFT System, Even Replace It According to Olga Skorobogatova, the development of digital coins makes international banking payment systems a topic of discussion, in the way that such traditional logic could become obsolete. She backed her comments on the fact that over 30 financial regulators “are....
A SWIFT ban could make Russia go nuts again. Russia’s invasion of Ukraine triggered a cascade of consequences that were rapidly felt throughout the world. Apart from property and human life, global finance – and cryptocurrency in particular – took a significant hit. On Saturday, the US and its Western allies blocked certain Russian banks’ […]
On-chain data suggests Bitcoin miners have been quietly accumulating while the rest of the market has been bleeding. Bitcoin Miner Reserve Continues To Stay At High Values Despite Struggling Price As explained by an analyst in a CryptoQuant post, BTC miners seem to have continued to accumulate while the price has declined in the past few weeks. The “BTC miner reserve” is an indicator that tells us the total amount of Bitcoin present in the wallets of all miners. When the value of this indicator goes up, it means miners are transferring a net amount of coins to their reserves.....
Yearn Finance (YFI) has plunged rapidly following the surprise exit of its key players. The cryptocurrency which had been following the market trend had broken off the step with the rest of the space as the news sent ripples through the community. The plunge which occurred on Sunday came as a direct result of uncertainty spread across the community after Anton Nell announced that he, alongside Andre Conje, would be exiting the space. Nell had taken to Twitter to post the shocking exit. According to him, he and Conje had been planning their exit for a while and would officially stop....
After a swift initial recovery, Bitcoin seems to be losing momentum. The cryptocurrency met resistance as it approached the $40,000 mark and not even two major news events were able to propel it through that wall. At the time of writing, BTC trades at $37,663 with sideways movement in the lower timeframes. In higher timeframes, […]