Category Archives: Bitcoin

Bitcoiner raises the orange flag on Mount Everest – Cointelegraph

A 23-year-old crypto user has presented an orange flag with the Bitcoin (BTC) logo for observers to see at an elevation of 8,849 meters the summit of Mount Everest.

In a May 23 X post, Dadvan Yousuf announced he had climbed the highest mountain in the world, reaching the summit on May 20. Surrounded by sherpas and fellow climbers, he used his time at the summit to show off two flags: for Kurdistan and the BTC logo.

Funnily enough, other climbers asked about the memecoin pepe and where the best place to buy it was on the highest place on earth, A spokesperson for Yousuf told Cointelegraph. The sherpas were enthusiastic about the principle of Bitcoin and were visibly happy.

Yousuf said the expedition was intended to highlight the global disparity in access to financial education. Born in Iraq and with a business now based in Dubai, the Bitcoiners reported net worth was more than $300 million as of January 2022.

Overtourism has become an increasing problem on Everest in the last twenty years. With the summit being featured on social media for the first time, many first-timers or inexperienced climbers come unprepared for the harsh conditions.

Yousuf reported it took roughly 50 days to reach the summit, giving the Bitcoiner time to acclimate to the thinner air. Though more than 7,000 climbers have scaled the summit since Sir Edmund Hillary first did in 1953, more than 300 have been reported dead in the attempt.

I fell down the Hillary step twice and almost died several times, Yousuf told Cointelegraph. During the expedition I almost lost my fingers due to frostbite.I owe a lot to my sherpas who helped me.

Related: Bitcoin price at $150K in 2024 is base case Tom Lee

Though crypto users have not always attempted anything as high as Everest, some have promoted digital assets during climbs. In 2023, a climber financed his trip to the top of Mount Kilimanjaro in Tanzania partly with Bitcoin as part of efforts to raise awareness for financial literacy. In 2018, three individuals placed a Ledger wallet at the summit of Everest the wallet was not visible in the videos Yousuf provided to Cointelegraph.

According to data from Cointelegraph Markets Pro, the price of Bitcoin was $67,879 at the time of publication. The cryptocurrency reached an all-time high price of $73,738 on March 14.

Magazine: Get Bitcoin or die tryin: Why hip hop stars love crypto

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Bitcoiner raises the orange flag on Mount Everest - Cointelegraph

Bitcoin price preps for ‘bigger move’ as on-chain metrics ‘reset’ – Cointelegraph

Bitcoins (BTC) price strived to hold above $70,000 on May 22 as Glassnode analysts suggested that the pioneer cryptocurrency is preparing for a bigger move to the upside.

Data from Cointelegraph Markets Pro and TradingView show that Bitcoins price has been steadily ascending after an extended downtrend from all-time highs. During this drawdown, BTC markets experienced periods of intense distributive pressure, which pulled its price to a low of $56,500 on May 1, the lowest since March 5.

Recent reporting from Glassnode notes that Bitcoins recent recovery to $71,000 is due to slowing sell-side pressure and compression of volatility, even as most key on-chain metrics tend toward an equilibrium.

Using the Supply Last Active Age Band metric, Glassnode analysts noted that the one-year and two-year cohorts experienced a large decline over the last two months. The 3y+ cohort continues to increase, suggesting this group is generally waiting for higher prices before parting ways with their coins.

Meanwhile, the Long-Term Holder (LTH) Binary Spending Indicator has been declining over the last few weeks, suggesting decreased distribution pressure.

Glassnode analysts also observed that a local divergence was starting to develop between LTH and STH Supply, adding weight to the case that there is a cooling off of distribution pressure across mature investors.

Bitcoins price recovery from the $56,500 low appears to have reset the price valuations and investor expectations on a longer-term market outlook based on various criteria. According to the Glassnode report, key on-chain metrics have rebalanced, suggesting a massive upside movement for BTC.

The firms on-chain data reveals that while new capital flowing into the Bitcoin network has slowed down considerably from its all-time highs, its realized cap is still positive enough to stimulate price action.

Using the Sell-Side Risk metric to monitor volatility, Glassnode analysts evaluated the total value locked in by coins spent on-chain (Realized Profit + Realized Loss) in relation to the size of the asset class (Realized Cap). They found that the Sell-Side Risk Ratio has declined significantly over recent weeks, suggesting that the market has found a degree of equilibrium over the course of this correction.

Glassnode concludes that while an intense period of mature investor distribution followed Bitcoins run toward the $73,835 all-time high, sell-side pressure has markedly declined.

The report noted that this has led to a reduction in headwinds and overhead resistance, with even modest demand able to stimulate positive price action.

Bitcoins May 1 flash crash to $56,500 was followed by a sharp recovery above $60,000, a level it has held above since then. Popular trader and analyst, Daan Crypto Trades said,

Data from on-chain data provider IntoTheBlock reinforced the importance of this level. Its In/Out of the Money Around Price (IOMAP) model showed that two significant support lines sat above the $60,000 mark. They lay between the $61,553 and $67,860 price range, where approximately 1.5 million BTC were previously bought by 3.66 million addresses.

This demand area is robust enough to produce the buying pressure required to push the price higher.

Another analyst Ali Martinez shared the following chart in the X social platform showing MVRV Pricing Bands and said,

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin price preps for 'bigger move' as on-chain metrics 'reset' - Cointelegraph

Bitcoin Pizza Day celebrates the time a man spent $650 million on pizza – Quartz

Illustration : Maksim Zakharau ( Getty Images )

On January 3, 2009, Bitcoins creator, Satoshi Nakamoto, mined the first block of the Bitcoin blockchain, known as the Genesis Block, which contained a reward of 50 Bitcoin. The technical foundations of Bitcoin were being established at the time, but the currency did not have any real-world value.

That changed on May 22, 2010, when Laszlo Hanyecz, a Florida-based programmer, offered 10,000 bitcoins to anyone who would order him two pizzas from Papa Johns.

Hanyecz wrote on the Bitcoin Talk forum: Ill pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what Im aiming for is getting food delivered in exchange for bitcoins where I dont have to order or prepare it myself, kind of like ordering a breakfast platter at a hotel or something, they just bring you something to eat and youre happy!

He further added what toppings he likes: I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.

If youre interested please let me know and we can work out a deal.

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Bitcoin Pizza Day celebrates the time a man spent $650 million on pizza - Quartz

UK court calls man claiming to have invented Bitcoin a liar – The Verge

Having considered all the evidence and submissions presented to me during the Trial, I reached the conclusion the evidence was overwhelming. At that point, I made certain declarations (because I was satisfied they are useful and are necessary to do justice between the parties), as follows: First, that Dr Wright is not the author of the Bitcoin White Paper. Second, Dr Wright is not the person who adopted or operated under the pseudonym Satoshi Nakamoto in the period between 2008 and 2011. Third, Dr Wright is not the person who created the Bitcoin system. Fourth, Dr Wright is not the author of the initial versions of the Bitcoin Software.

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UK court calls man claiming to have invented Bitcoin a liar - The Verge

Why Bitcoin Price Is Falling Sharply Today? – CoinGape

Coinbase Listing Shiba Inu, Floki, Bonk Perpetual Futures

Coinbase, one of the leading cryptocurrency exchanges, has revealed plans to roll out perpetual futures contracts for three prominent meme coins: Shiba Inu (SHIB), FLOKI, and BONK. These perpetual futures

1 hour ago 24/7 Cryptocurrency News

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Why Bitcoin Price Is Falling Sharply Today? - CoinGape

Bitcoin price today: unchanged at $69k amid Fed fears, spot Ether ETF focus – Investing.com

Investing.com-- price moved marginally on Thursday as a recent rally in cryptocurrencies, on hype over a potential spot Ether exchange-traded fund, was largely undermined by renewed fears of high U.S. interest rates.

U.S. rate jitters sparked strong overnight gains in the dollar, which pressured crypto prices across the board.

Bitcoin slipped 0.35% in the past 24 hours to $69,390 by 09:05 ET (13:05 GMT). The worlds biggest cryptocurrency settled back into a trading range seen for most of the past two months, after a brief breakout earlier this week.

World no.2 token Ether hovered around two-month highs hit earlier this week, retaining a bulk of gains made on hype over the potential approval of a spot Ether ETF for U.S. markets. The Securities and Exchange Commission is set to make a decision on the matter as soon as Thursday or Friday.

Ether rose around 5.5% over the past 24 hours to $3,878.84. The token marked a strong rally this week after reports on Monday said the SEC had asked certain exchanges to fine-tune their filings for spot Ether ETFs.

While the move did mark some progress towards a spot ETF approval, it did not guarantee their approval.

The SEC is now set to decide on applications for a spot Ether ETF from VanEck, ARK Investment Management and seven other issuers later on Thursday or Friday.

According to QCP Capital, the approval of spot ether ETFs in the U.S. could potentially drive a rally of up to 60% in the second-largest cryptocurrency in the coming months.

The forecast mirrors the market reaction seen after spot bitcoin ETFs were approved in January, said the Singapore-based firm in a Thursday broadcast on Telegram. Bitcoin surged from $42,000 to over $73,000 within two weeks of the ETFs beginning to trade on January 11, as per CoinGecko data.

"With Friday implied volatility above 100%, the market is expecting fireworks," QCP said.

"VanEcks ETF has been listed by the DTCC. We think approval is now highly likely with trading expected as early as next week, it added.

Implied volatility measures the market's expectation of future price fluctuations for a financial instrument.

Broader cryptocurrency markets unwound a bulk of gains made earlier this week, as fears of high for longer U.S. interest rates ramped up following some hawkish signals from the Federal Reserve.

The minutes of the Feds late-April meeting showed increasing concerns among policymakers over sticky inflation, with some members even signaling they were prepared to hike rates to quell inflation.

A slew of Fed officials also warned this week that the bank had little confidence that inflation was easing steadily towards its 2% annual target.

While the chances of another rate hike are dim, any stickiness in inflation is likely to delay the Feds plans to begin trimming rates. High for long rates bode poorly for crypto markets, given that the sector usually thrives in low-rate, high-liquidity markets.

Altcoin prices mostly fell on Thursday. SOL shed 2.5%, while lost 1%. Among meme tokens, SHIB fell 0.5%, while DOGE climbed 0.3%.

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Bitcoin price today: unchanged at $69k amid Fed fears, spot Ether ETF focus - Investing.com

Pre-ETF Decision Volatility: Over $200M in Liquidations as Bitcoin, Ethereum Crash Hard – CryptoPotato

Our website is a comprehensive guide to digital currency investing & trading.Here are a few suggestions to get started, and get the most from us:

Begin with Bitcoin for Beginners.

Get the edge with our exclusive Bitcoin and cryptoguides.

Check out our Crypto YouTube channel, that includes beginners and advanced tutorial videos and market updates. Dont forget to subscribe!

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Pre-ETF Decision Volatility: Over $200M in Liquidations as Bitcoin, Ethereum Crash Hard - CryptoPotato

XRP Skyrockets 60% in Volume as XRP Price Outperforms Bitcoin – U.Today

Trading volume of derivatives on the popular cryptocurrency XRP has increased by 60% in the last 24 hours, according to the latest data fromCoinGlass. This notable growth was primarily due to a significant increase in the turnover of perpetual XRP futures, which reached a whopping $2 billion. Simultaneously, on the spot market, the trading volume of XRP increased by 18.40% to reach $1.75 billion.

Combined, these figures brought the total turnover ofXRP on centralized platforms to a staggering $3.75 billion in a single day. Given that the token's market capitalization is $29.5 billion, trading volume is now approximately 12.71% of the total value, indicating a high level of trading activity.

In addition, theprice of XRP againstBitcoin rose by more than 3% today: the cryptocurrency is now trading at 0.00000785 BTC. In dollar terms, this growth is characterized by the fact that XRP rose in price by more than 3%, while Bitcoin fell by 1.26%.

This divergence is largely due to the recent market decline, which has seen positions worth $119.85 million liquidated in the last few hours.

XRP's positive momentum is fueled by Coinbase's decision to add a token to its platform, a move that will make the cryptocurrency available to New Yorkers for the first time since its removal in 2021 amid Ripple's legal battle withthe SEC. This development has significantly boosted XRP's market presence and trading activity.

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XRP Skyrockets 60% in Volume as XRP Price Outperforms Bitcoin - U.Today

Bitcoin return to $73K could be a start to ‘escape velocity’ phase – Cointelegraph

A potential return of Bitcointo $73,000 could mark the beginning of the assets acceleration to escape velocity, according to a crypto analyst.

Escape velocity is a term used in astrophysics to describe the minimum speed needed for an object to escape from the gravitational field of a celestial body, like a planet or moon, without further propulsion.

Crypto analyst James Check used the term in a May 21 market report to describe what Bitcoin (BTC)could do once it retakes the $73,000 price point.

Check refers to the short-term holder (STH) market value to realized value (MVRV) metric, which he explains suggests the market is not yet overstretched, overbought, and over-saturated.

Whilst the transition from enthusiasm to euphoria can happen quickly, it feels like we have not reached the point of euphoric escape velocityyet, Check explained.

We are still within a steady, stable, enthusiastic, but importantly NOT euphoric phase of the bull, he said, forming strong base foundations for a price rally at $73,000.

However, he also warned that this price point is also where STH wallets that have held Bitcoin for less than 155 days are now in sufficient profit, which may lead to a sell-off causing some resistance.

A few other crypto analysts also agree market euphoria has yet to materialize.

Bitcoin is at $70k and there is little excitement and no euphoria, have to like it, crypto trader Matthew Hyland declared in a May 22 post on X.

Bitcoin is just a sneeze away from entering price discovery, added pseudonymous crypto trader Jelle.

Related: Bitcoin price preps for bigger move as on-chain metrics reset

Pseudonymous crypto trader Yoddha is under the belief that Bitcoin will reach its peak price before March 18, 2025:

Bitcoin has been consolidating in the current range from the past 84 days, IMO from the current price, BTC will hit the Top within the next 300 days, they wrote in a May 22 poston X.

A jump to $73,000 from its current price of $69,088 is around 5.6%, according to CoinMarketCap data.

Magazine: If Bitcoin doubles, Stacks will 4x in 2025: Daan Crypto Trades, X Hall of Flame

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Bitcoin return to $73K could be a start to 'escape velocity' phase - Cointelegraph

Bitcoin Price Could Surge to $140,000 in Three Months if History Rhymes – CryptoPotato

Our website is a comprehensive guide to digital currency investing & trading.Here are a few suggestions to get started, and get the most from us:

Begin with Bitcoin for Beginners.

Get the edge with our exclusive Bitcoin and cryptoguides.

Check out our Crypto YouTube channel, that includes beginners and advanced tutorial videos and market updates. Dont forget to subscribe!

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Bitcoin Price Could Surge to $140,000 in Three Months if History Rhymes - CryptoPotato