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Bitcoin’s range-bound action puts eyes on NEAR, AR, CORE and BONK

Coin Telegraph
Bitcoin’s range-bound action puts eyes on NEAR, AR, CORE and BONK
Arweave

Bitcoin's range-bound price action could lead traders to focus on NEAR, AR, CORE and BONK.

Bitcoin (BTC) attempted to start a relief rally this week but met with intense selling pressure near $67,000. The largest cryptocurrency by market capitalization is on track to end the week with a minor loss of about 2%.

Popular trader and analyst Rekt Capital believes that Bitcoin has “entered the Post-Halving ‘Danger Zone’” where it could see a further dip within the next two weeks. Another negative in the near term is the net outflows from the spot Bitcoin exchange-traded funds. Farside Investors reported that the ETFs witnessed a net outflow of $218 million on April 25, after a $120 million outflow the previous day.

When the price trades in a large range, it is difficult to predict the direction of the breakout with certainty. Traders could buy near the support and sell at the resistance by keeping a suitable stop loss, or stay on the sidelines until a breakout happens.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Analyst Says Layer-1 Altcoin Will Do Big Numbers This Year, Updates Forecast on Near and Fetch.ai

The Daily Hodl
Analyst Says Layer-1 Altcoin Will Do Big Numbers This Year, Updates Forecast on Near and Fetch.ai
Altcoins
Analyst Says Layer-1 Altcoin Will Do Big Numbers This Year, Updates Forecast on Near and Fetch.ai

A widely followed crypto strategist believes that a layer-1 altcoin running on a hybrid consensus mechanism will do big rallies this year. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that he’s bullish on Core (CORE). According to the analyst, CORE looks strong after erasing most of the losses […]

The post Analyst Says Layer-1 Altcoin Will Do Big Numbers This Year, Updates Forecast on Near and Fetch.ai appeared first on The Daily Hodl.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Trader Says One Ethereum Rival Will Do Well in 2024, Updates Outlook on Three Additional Altcoins

The Daily Hodl
Trader Says One Ethereum Rival Will Do Well in 2024, Updates Outlook on Three Additional Altcoins
Altcoins
Trader Says One Ethereum Rival Will Do Well in 2024, Updates Outlook on Three Additional Altcoins

A widely followed crypto strategist believes that one Ethereum (ETH) rival could have a strong performance this year. Pseudonymous analyst Altcoin Sherpa tells his 214,300 followers on the social media platform X that Fantom (FTM) could soar more than 15% from its current value. “FTM: I think this is still a very solid coin and […]

The post Trader Says One Ethereum Rival Will Do Well in 2024, Updates Outlook on Three Additional Altcoins appeared first on The Daily Hodl.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Top-100 Altcoin Surges Over 2x in a Week Amid a Slate of New Features and Partnerships

The Daily Hodl
Top-100 Altcoin Surges Over 2x in a Week Amid a Slate of New Features and Partnerships
Altcoins
Top-100 Altcoin Surges Over 2x in a Week Amid a Slate of New Features and Partnerships

A top-100 altcoin has more than doubled up during the last week as it announces a host of new partnerships and features. New data reveals that Core (CORE), a layer-1 blockchain that leverages the advantages of Bitcoin’s (BTC) proof-of-work network, has skyrocketed over the last seven days. On March 29th, CORE was trading for $1.07. […]

The post Top-100 Altcoin Surges Over 2x in a Week Amid a Slate of New Features and Partnerships appeared first on The Daily Hodl.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Bitcoin-Powered Altcoin Skyrockets Over 470% in Just Over a Week As Rest of Market Corrects

The Daily Hodl
Bitcoin-Powered Altcoin Skyrockets Over 470% in Just Over a Week As Rest of Market Corrects
Altcoins
Bitcoin-Powered Altcoin Skyrockets Over 470% in Just Over a Week As Rest of Market Corrects

One layer-one blockchain project developing in the Bitcoin (BTC) ecosystem is skyrocketing in value as the broader crypto market consolidates. Core (CORE), which aims to leverage Bitcoin’s proof-of-work system (POW) along with the attributes of proof-of-stake (POS) using its own consensus mechanism called satoshi plus, has soared more than 477% in the past week. Core […]

The post Bitcoin-Powered Altcoin Skyrockets Over 470% in Just Over a Week As Rest of Market Corrects appeared first on The Daily Hodl.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Crypto Market Roundup — CORE and WIF Outshine in a Week of Market Volatility

Bitcoin.com
Crypto Market Roundup — CORE and WIF Outshine in a Week of Market Volatility
Bitcoin
Crypto Market Roundup — CORE and WIF Outshine in a Week of Market VolatilityOn April 1, the overall cryptocurrency market witnessed a decrease, with a 2.2% drop over the last day, as bitcoin and ethereum fell by 2.4% and 3.2% respectively against the U.S. dollar. Despite this downturn, the past week saw 14 digital assets experience notable increases, with the crypto token CORE soaring by 174% and WIF […]
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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Economist Alex Krüger Says Bitcoin All-Time Highs Coming Soon, Predicts 4x Move for One Layer-One Altcoin

The Daily Hodl
Economist Alex Krüger Says Bitcoin All-Time Highs Coming Soon, Predicts 4x Move for One Layer-One Altcoin
Altcoins
Economist Alex Krüger Says Bitcoin All-Time Highs Coming Soon, Predicts 4x Move for One Layer-One Altcoin

Closely followed trader and economist Alex Krüger says new all-time highs for Bitcoin (BTC) are likely just around the corner. Krüger tells his 169,000 followers on the social media platform X that the daily market structures of several large-cap crypto assets are all clearly bullish. Based on the charts, Krüger says he’s expecting a new […]

The post Economist Alex Krüger Says Bitcoin All-Time Highs Coming Soon, Predicts 4x Move for One Layer-One Altcoin appeared first on The Daily Hodl.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Economist Alex Krüger Bullish on One Under-the-Radar Layer-One Altcoin, Says Crypto ‘Can Get Crazier’

The Daily Hodl
Economist Alex Krüger Bullish on One Under-the-Radar Layer-One Altcoin, Says Crypto ‘Can Get Crazier’
Alex Kruger
Economist Alex Krüger Bullish on One Under-the-Radar Layer-One Altcoin, Says Crypto ‘Can Get Crazier’

Widely followed economist Alex Krüger is bullish on one overlooked layer-one crypto project amid what he believes is the earlier stages of a digital assets bull run. Krüger tells his 168,000 followers on the social media platform X that many more people are about to hear about Core (CORE), a blockchain that aims to leverage […]

The post Economist Alex Krüger Bullish on One Under-the-Radar Layer-One Altcoin, Says Crypto ‘Can Get Crazier’ appeared first on The Daily Hodl.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

Core Scientific shuts down 37K mining rigs it was hosting for Celsius

Coin Telegraph
Core Scientific shuts down 37K mining rigs it was hosting for Celsius
Breach

Core Scientific estimates that canceling the agreement with Celsius will provide $2 million in revenue per month as long as Bitcoin stays around $16,700.

Bankrupt cryptocurrency lender Celsius Network has agreed to let Bitcoin (BTC) miner Core Scientific shut off more than 37,000 mining rigs it had been hosting for Celsius during the miner’s bankruptcy proceedings.

Core Scientific filed a revised proposed order on Jan. 3 that incorporated “revisions acceptable to Celsius” stating “all Celsius rigs will be powered down effective January 3, 2023 and will not be restarted during the transition period.”

On Oct. 19, Core Scientific accused Celsius of failing to pay its power bills, later citing the non-payment as a major factor in the liquidity issues that led to the Bitcoin miner filing for Chapter 11 bankruptcy on Dec. 21.

On Dec. 28, Core Scientific filed a motion seeking approval to reject Celsius’ contracts, claiming the firm’s failure to pay its power bills constituted a material breach of contract.

According to the court filings, the termination of the agreement would apparently allow Core Scientific to generate a revenue of $2 million per month from the space currently occupied by Celsius’ mining rigs.

The hosting deal’s terms allowed Core Scientific to pass on some of the power costs to Celsius, and those costs have considerably increased since Russia’s invasion of Ukraine.

According to the rejection motion, covering the increased power fees cost Core Scientific almost $7.8 million as of Dec. 28 and the miner noted it “cannot afford to continue shouldering the burden of Celsius’ unpaid power costs.”

Related: Bitcoin miners see mixed successes in tackling debt-fueled overexpansion crisis

The cost of production has increased for miners while the price of Bitcoin has decreased, which has eaten into miners’ bottom line and contributed to the “hash price” — the revenue Bitcoin miners can earn per unit of hash rate — falling over 75% over 2022.

Bitcoin Hashprice Index. Source: Luxor Technologies

Miner’s lack of profitability combined with the costs associated with expansion efforts caused many Bitcoin miners to struggle toward the end of 2022 and share prices plummeted as a result.

Core Scientific has seen their share price fall by 99.15% over the course of the year, while Iris Energy and Riot Blockchain saw falls of 91.79% and 85.09%, respectively.

Bitcoin miners’ stock performance. Source: Luxor Technologies
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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

100%: Public Bitcoin miners sold almost everything they mined in 2022

Coin Telegraph
100%: Public Bitcoin miners sold almost everything they mined in 2022
Argo

Publicly listed Bitcoin miners sold off nearly everything they mined in 2022 but appear to have started accumulating reserves once again.

Publicly listed Bitcoin (BTC) miners sold off almost all of the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created "a persistent headwind" for the Bitcoin price or not. 

Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet, indicating that approximately 40,300 of the 40,700 BTC mined by Core Scientific, Riot, Bitfarms, Cleans Park, Marathon, Hut8, HIVE, Iris Energy, Argo and Bit Digital from Jan. 1 to Nov. 30 was sold off.

The reserves held by mining firms have decreased considerably during the latter half of 2022, particularly throughout November, as the crypto industry reeled from the effects of the FTX fallout.

Miner reserves vs Bitcoin price from Jul. 1 to Dec. 28. Source: CryptoQuant.

Dunleavy believes that miners consistently selling off newly produced Bitcoin places downward pressure on the price of the leading cryptocurrency.

However, some industry commentators such as BitMEX’s former CEO, Arthur Hayes, believe the selling pressure created by the increased sales of Bitcoin miners is negligible.

He opined in a Dec. 9 blog post that “even if miners sold all the Bitcoin they produced each day, it would barely impact the markets at all.”

According to Bitcoin Visuals, on Dec. 26 the daily trading volume for Bitcoin was $12.2 billion. The outflow from miners on the same day, according to CryptoQuant, was 919 BTC ($15.35 million), which represents just 0.13% of the total volume traded.

Miner's reserves have rebounded slightly during December, increasing by nearly 1%. The figure contributes to the view shared in a Dec. 27 post by crypto analyst IT Tech that the situation for miners appears to be stabilizing.

Related: BTC price dips 1% on Wall Street open as Bitcoin miners worry analysts

Miners have faced significant headwinds throughout the year, with high electricity prices, falling crypto market prices and a higher mining difficulty eating into their bottom line.

With the cost of production for miners increasing while the Bitcoin price has been decreasing, miners such as Core Scientific have been forced to sell some of their reserves at a loss to fund their ongoing operations and efforts to expand.

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New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

New ‘Brokewell’ Smartphone Attack Drains Bank Accounts and Leaks Location, Posing ‘Significant Threat to Banking Industry’: Report

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