New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub Objective

Mayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital currencies using fossil fuels. New York Mayor and Bitcoin Supporter Eric Adams to Seek Balance With Environmental Goals Cryptocurrency proponent and New York City Mayor Eric Adams has spoken in a supportive tone about the state’s two-year moratorium on certain crypto mining operations relying on carbon-based energy resources.…

Read More

ETH Prepares for Rally, While BTC Seeks Support – Market Updates Bitcoin News

[ad_1] Bitcoin remained under the $40,000 level on Sunday, as bears continued to pressure cryptocurrency markets. This pressure also kept ethereum lower, with the world’s second-largest crypto hovering around its long-term support level. Bitcoin Sunday saw the price of bitcoin (BTC) trade lower for a fifth consecutive session, as it was unable to shake off recent bearish pressure. BTC/USD fell to an intraday low of $38,211.65 on Sunday, which was around $500 lower than its bottom to start the weekend. Today’s move sees BTC fall to its lowest point since…

Read More

Terra, Avalanche and Osmosis lead the L1 recovery while Bitcoin searches for support

[ad_1] The layer-one (L1) ecosystem has received increased attention in recent months as users search for new investment opportunities in the Cosmos (ATOM), Fantom (FTM) and NEAR.  Following January’s market sell-off, where Bitcoin (BTC) price dropped to bottom below $34,000, much of the L1 field has struggled to regain its momentum. Price performance of L1 tokens since Jan. 24. Source: Delphi Digital According to data from Delphi Digital, since the BTC bottom on Jan. 24, the only L1 to experience a notable gain in price include Terra (LUNA), Avalanche (AVAX)…

Read More

BTC Approaching $40,000 Support on NFP Day – Market Updates Bitcoin News

[ad_1] Following three consecutive sessions of declines, BTC was fast approaching its support level of $40,000 on Friday, as markets prepared for February’s nonfarm payrolls report. This came as ETH also fell lower, and is approaching its own floor of $2,500 in the process. Bitcoin BTC bulls have been few and far between over the last few days, as the world’s largest cryptocurrency faced growing pressure from bears. This pressure came following Tuesday’s climb to the resistance level of $45,000, which then triggered an onslaught of short sellers, who entered…

Read More

Ethereum futures premium hits a 7-month low as ETH tests the $2,400 support

[ad_1] Ether (ETH) reached a $3,280 local high on Feb. 10, marking a 51.5% recovery from the $2,160 cycle low on Jan. 24. That price was the lowest in six months, and it partially explains why derivatives traders’ main sentiment gauge plummeted to bearish levels. Ether’s futures contract annualized premium, or basis, reached 2.5% on Feb. 25, reflecting bearishness despite the 11% rally to $2,700. The worsening conditions depict investors’ doubts regarding the Ethereum network’s shift to a proof-of-stake (PoS) mechanism. As reported by Cointelegraph, the much-anticipated sharding upgrade that…

Read More

Last Bitcoin support levels above $20K come into play as BTC price faces ‘time of uncertainty’

[ad_1] Bitcoin (BTC) may yet reenter the $20,000 zone, but the coming weeks could provide a solid buying opportunity, a new report forecasts.  In its latest market update on Feb. 24, trading platform Decentrader laid out the final areas of support between the current Bitcoin spot price and $20,000. Analyst eyes BTC’s 20-week and 200-week MA for cues Military action by Russia in Ukraine has markets in a spin Thursday, with stocks and crypto following a firm downtrend as uncertainty grips Asia, Europe and the United States alike. Bitcoin has…

Read More

Ethereum bulls aim to flip $2.8K to support before calling a trend reversal

[ad_1] The dire predictions calling for the onset of an extended bear market may have been premature as prices appear to be in recovery mode on Jan. 26 following a signal from the U.S. Federal Reserve that interest rates will remain near 0% for the time being.  After the Fed announcement from, prices across the cryptocurrency market began to rise with Bitcoin (BTC) up 4.11% and making a strong push for $39,000. This sparked a wave of momentum that helped to lift a majority of tokens in the market, but…

Read More

Analysts expect turbulent Bitcoin price until $46,500 flips to support

[ad_1] Market volatility reared its ugly head once again for crypto traders on Jan. 13 as the excitement of Bitcoin (BTC) hitting its highest level in a week was quickly thwarted by a correction that thrust the cryptocurrency back into the mid-$45,000 range.  Data from Cointelegraph Markets Pro and TradingView shows that after reaching an intraday high of $44,500, bears took control of the Bitcoin market and hammered the price to a low of $42,315 while the wider global financial markets also experienced a noticeable sell-off. BTC/USDT 1-day chart. Source: TradingView…

Read More

Bitmart pledges to reimburse hack victims as crypto community voices support

[ad_1] As regulatory uncertainty continues to plague the global digital asset ecosystem, there are many anti-crypto proponents who continue to harp on the fact that the industry as a whole has a long way to go when it comes to securing itself in a manner that is anywhere comparable to the traditional finance system. Now, with the recent Bitmart hack coming to light, these individuals have been given even more firepower. To recap, on Dec 5, cryptocurrency exchange Bitmart was on the receiving end of a major hack that saw…

Read More

Bitcoin toys with $60K as crucial price support level sees multiple retests

[ad_1] Bitcoin (BTC) bounced at the pivotal $58,400 during Nov. 17 as the day continued choppy price action.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: This isn’t the “real” bear market Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly reversing after its fourth wick below $59,000 in 24 hours. The $58,400 level had been pronounced as a key line in the sand for bulls Tuesday, which was necessary to hold in order to avoid deeper losses. True to form, Bitcoin quickly returned above $60,000 after the retest to…

Read More