Bitcoin, Ethereum Technical Analysis: BTC Plunges Under $27,000, Hitting 7-Week Low

Bitcoin fell to a seven-week low on May 12, as prices dropped below the $27,000 level in today’s session. Friday’s decline came as a red wave swept through cryptocurrencies, with the market cap down 2.75% as of writing. Ethereum also slipped to its weakest point since March. Bitcoin Bitcoin (BTC) dropped below the $27,000 level […]

Bitcoin, Ethereum Technical Analysis: BTC Hovers Near Key Price Floor, Ahead of US Inflation Report

Bitcoin was hovering close to a key price floor near $27,300 on Wednesday, as markets anticipated the upcoming U.S. inflation report. Consumer prices for last month are expected to remain at 5%, which could be seen as justifying the Federal Reserve’s decision to hike rates last week. Ethereum remained above $1,800. Bitcoin Bitcoin (BTC) continued […]

Average Bitcoin Transaction Fees Skyrocket to $19.20 per Transfer as Over 440,000 Transactions Remain Unconfirmed

Bitcoin transaction fees have surged significantly in the past 24 hours, with the average fee reaching $19.20 per transfer. The increase in fees can be linked to a backlog of transactions trapped in the mempool, as over 440,000 unconfirmed transactions are currently awaiting confirmation.
Block Reward Dethroned: Bitcoin Transaction Fees Surpass Mining Subsidy for the […]

Bitcoin, Ethereum Technical Analysis: BTC Extends Declines, as Markets Continue to React to Nonfarm Payrolls

Bitcoin fell below $28,000 to start the week, as markets continued to react to last Friday’s United States nonfarm payrolls (NFP) report. The payrolls report came in at 250,000 versus expectations of 180,000 jobs. Ethereum was also lower, as prices fell back below $1,900. Bitcoin Bitcoin (BTC) moved lower to start the week, as cryptocurrency […]

Russia May Take Up 18% of Bitcoin Hashrate in Next Big Migration of Crypto Miners, Experts Say

Russia May Take Up 18% of Bitcoin Hashrate in Next Big Migration of Miners, Experts SayIncreasing regulatory pressures, tax burden and energy costs in countries like the U.S. and Kazakhstan are likely to result in a new great migration of crypto miners, Russian analysts believe. Under such a scenario, Russia has what it takes to occupy up to 18% of the global bitcoin hashrate, they claim. Russia May Attract Half […]

Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days

Bitcoin's BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four DaysFour days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million.
More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now […]

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging FeesIn just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current […]

Bitcoin Volatility Amid Banking Chaos Looks Dangerous

Bitcoin

The turmoil in the banking sector shows no signs of abating as another major bank faces mounting challenges. With deposit levels dropping rapidly and regulators expected to step in, the situation has only intensified in recent days. Bitcoin’s price seemingly benefits from First Republic Bank’s trouble, but the pop could be short lived. According to […]

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