Coindesk

Dogecoin (DOGE) retraced Tuesday's gains while Solana’s SOL jumped 8% higher as crypto markets rebounded on Wednesday to reverse some losses from earlier in the week.DOGE fell 7.5% amid profit taking, data shows, to trade at 36 cents in European noon hours, paring gains after a jump from 34 cents to 38 cents on Tuesday — when it surged following the display of its token’s logo on the Elon Musk-led Department of Government Efficiency website.The website was later updated in Asian morning hours Wednesday to show another animated image of a dog. It was updated again in the afternoon to showcase only its name and a dollar sign.Crypto majors showed mixed movement as bitcoin (BTC), ether (ETH) and BNB Chain’s...

Hashprice, a metric coined by Luxor that gauges mining profitability, estimates the daily income of miners relative to their estimated contribution to the Bitcoin network's hash power. In other words, it is the expected value miners can expect from 1 TH/s of hashing power per day. According to Glassnode, hashprice is hovering above $62 PH/s, around the highest level since mid-December.What's driving the increase in hashprice? Well bitcoin (BTC) has surged to well over $100,000, a 56% increase in three months and has given the miners some relief. The network has also seen a slight increase in miner fees of late, roughly 12 BTC per day, the highest amount for over a month, partly driven by the network's inscription activity.Due...

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin remains well supported above $100,000 as it eyes record highs, buoyed by reports that the new SEC leadership has established a task force to develop a framework for crypto assets. Pundits have long said regulatory clarity could pave the way for further price appreciation.Gold's price rebound from December lows has also gathered pace and is now just 1% shy of setting new highs above $2,790 per ounce. That's unusual: Bitcoin typically rallies when the price of gold stagnates.Perhaps gold is saying the Fed will walk back on its hawkish December bias that signaled fewer rate cuts, helping keep BTC bid. And why not? Reports indicate that Trump's tariffs will be lighter...

Long-term holders of bitcoin (BTC) seem to ended their selling spree, a change in strategy that's helped convert the psychological $100,000 resistance price into a support level for the first time.With one, short-lived exception, the largest cryptocurrency has held above $100,000 since Jan. 17. The past few days have been extremely volatile due to President Donald Trump's inauguration, which saw a spike in volatility.Long-term holders, or investors who have held bitcoin for over 155 days, have been among the biggest contributors to selling pressure on the market, according to CoinDesk research in December. They are deemed "smart money" because they tend to buy when bitcoin prices are depressed and sell into strength, a pattern that's been observed over the past...

On Tuesday, bitcoin (BTC) options trading on the Chicago Mercantile Exchange (CME) showed the strongest bullish sentiment since Donald Trump's Nov. 5 election victory.Traders scrambled to buy calls, or options offering asymmetric upside exposure, driving the skew higher to 4.4%, the most since early November, according to data tracked by digital assets index provider CF Benchmarks. Skew is the difference in implied volatility between calls and puts, or options offering downside protection, and positive values represent a bullish sentiment."Thirty-day topside skew in the bitcoin options market has reached levels not seen since the November election results," Thomas Erdösi, head of product at CF Benchmarks, told CoinDesk. "This reflects a strong bullish sentiment, with traders actively positioning for upside exposure across...