Crypto News
Bitcoin’s $80K Floor Cracks: 28% Plunge Sparks Frenzy as $955M Liquidation Storm Hits Markets
Bitcoin (BTC) tumbled to an intraday low of $78,197 per coin early Friday, its sharpest descent in months. As of publication, the digital asset hovers listlessly below the $80,000 threshold at $79,875, signaling persistent bearish momentum. Crypto Carnage: Bitcoin Tumbles to Nov. 2024 Lows The leading cryptocurrency has shed 7% against the U.S. dollar todaySource link
Borrowed Cash Fuels Bitcoin Purchases on Bitfinex as BTC Price Tumbles
As bitcoin's (BTC) price wilts, traders on crypto exchange Bitfinex are living up to their reputation of being dip buyers, offering some hope to battered crypto bulls given their track record of predicting market peaks and troughs.The number of bitcoin bought on Bitfinex with borrowed cash, a bet that the BTC price will rise and leave the investor with a profit once they've repaid the loan, has risen to more than 60,000 BTC from 50,773 this month. It's jumped 2% in the past 24 hours alone, according to data from Coinglass and TradingView.The increase in so-called margin long positions is a vote of confidence in the largest cryptocurrency, which has lost more than 20% this month and is on track...
Hong Kong Mortgage Market Sees Uptick in Applications for January 2025
The Hong Kong Monetary Authority reports a 3.3% increase in mortgage applications for January 2025, while approved loans decrease by 2.1% to HK$25 billion. (Read More)Source link
Bitcoin Purchases Confined: IMF Approves $1.4 Billion Credit Facility for El Salvador
The IMF, which informally approved the deal last year, states that this program aims to boost El Salvador’s finances and growth prospects. However, the Bukele administration must “confine” its bitcoin activities and purchases in return. Done Deal: IMF Greenlights $1.4 Billion Credit, Limits Salvadoran Bitcoin Purchases The International Monetary Fund (IMF) has finally greenlighted aSource link
Bitcoin Set for Worst Month Since June 2022, Worst Week Since November That Year
Bitcoin (BTC) is on track for its worst month in three years, falling 22% as President Donald Trump's tariffs on major U.S. trading partners raise concerns of faster inflation, reduced chance of interest-rate cuts and lowered appetite for risky investments.The last time the largest cryptocurrency fell as much as June 2022, when it fell by more than a third. This week alone, BTC has dropped almost 18%, the steepest slide since the week ended Nov. 13 of the same year.The slide leaves investors who've bought bitcoin this year severely underwater. The average purchase price is since the start of January $97,880, and BTC dropped below $80,000 earlier Friday, leaving average buyer some 18% worse off.Historically, this isn't entirely unusual. Investors...