Crypto News

Jack Dorsey's Block has released a new, long-lasting Bitcoin mining rig in the X co-founder's latest BTC push.Source link

The digital asset’s price saw a precipitous drop early Thursday morning after the U.S. Bureau of Labor Statistics published data revealing record inflation metrics. Inflation Shock Triggers Bitcoin Slump Just seconds after the U.S. Bureau of Labor Statistics (BLS) published its inflation data at 8:30 am on Thursday, bitcoin ( BTC) fell off a cliff.Source link

Polygon's POL token tumbled 6% on Thursday, falling through key support levels as higher-than-expected U.S. inflation data shook risk assets.POL traded in a wide 10% range over the past 24 hours, climbing from $0.25 to $0.26 in early trading before reversing sharply, data from CoinDesk Analytics shows.A burst of selling sent the token down to $0.24, with trading volume spiking to 1.1 million units — more than triple its 24-hour average. The $0.26 mark has now emerged as a significant resistance zone after the high-volume rejection.The selloff came alongside a broader market decline triggered by a U.S. producer price index (PPI) report showing a 0.9% month-over-month rise in July, the biggest jump in more than three years. The data, which...

U.S. Treasury Scott Bessent advocated for a 50-basis-point rate cut earlier this week.Source link

After bitcoin surpassed $124,000, some analysts suggest that the cryptocurrency may be entering a rapid growth phase, with potential price targets between $131,000 and $177,000. Record-Breaking Rally and Market Capitulation On Aug. 13, bitcoin (BTC) broke past the $124,000 mark to set a new all-time high and pushed the crypto economy’s total market capitalization toSource link