Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact. Bitcoin vs. CPI: "Expect volatility" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to expand beyond $21,800 ahead of the United States Consumer Price Index (CPI) print for January. Already called the “most important” CPI release, the data, due at 8:30am Eastern Time, is a classic volatility catalyst for risk assets. Crypto market participants thus expected a busy trading day, with both $19,000 and $25,000 on the table as potential targets depending on how far the results stay from estimates. “Will …

Bitcoin (BTC) miners have earned nearly $600,000 in two months from a new controversial NFT protocol called Ordinals that has triggered a surge in user activity. What are Bitcoin Ordinals? Ordinals allow users to inscribe data in the form of images and other media types in newly mined blocks on the Bitcoin blockchain that's otherwise largely used for peer-to-peer monetary transactions. Since the launch of Ordinals in mid-December, however, users have inscribed nearly 74,000 NFTs into the Bitcoin blockchain, earning miners a cumulative $574,000 in BTC transaction fees to date, data from Dune Analytics shows. These NFTs include "digital artifacts" …

The launch of Bitcoin nonfungible tokens (NFTs) — known as Ordinals — has tipped the number of non-zero Bitcoin addresses to a new all-time high of 44 million, according to crypto analytics platform Glassnode. In a Feb. 13 report from Glassnode, the firm explained that for the first time in Bitcoin’s 14-year history, a portion of network activity is being used for purposes other than peer-to-peer monetary Bitcoin (BTC) transfers: “This is a new and unique moment in Bitcoin history, where an innovation is generating network activity without a classical transfer of coin volume for monetary purposes.” Glassnode explained that …

Australia-based Bitcoin (BTC) mining company, Iris Energy, revealed it will nearly triple its mining capacity with the addition of thousands of mining rigs. On Feb. 13 the firm said it purchased an additional 4.4 Exa Hashes per second (EH/s) worth of Bitmain Antminer S19j Pro ASIC miners bringing its self-mining capacity to 5.5 EH/s from 2.0 EH/s. Based on the S19j Pro’s maximum hashrate of 100 Tera Hashes per second (TH/s), the purchase adds an estimated 44,000 miners to its fleet, according to Cointelegraph’s calculations. Daniel Roberts, Iris’ co-founder and Co-CEO said the purchase “is a significant milestone” for the …

For readers looking for unique, meaningful gifts for their valentine this Valentine’s Day, consider giving a cryptocurrency-related gift. Here are nine options: A cryptocurrency gift card Give your significant other the gift of choice by giving them a cryptocurrency gift card. They can use it to buy food or any digital asset they want, whether that’s Bitcoin (BTC), Ether (ETH) or a stablecoin like USD Coin (USDC). Virtual real estate Readers can buy virtual real estate in the metaverse, such as in Decentraland or The Sandbox, as a unique, romantic gift. Their significant other can build and customize their own …

Bitcoin (BTC) and select altcoins are threatening to deepen their correction after reports emerged that the United States Securities and Exchange Commission (SEC) issued a Wells Notice to Paxos, alleging that the dollar-pegged Binance USD (BUSD) stablecoin is an unregistered security. Separately, Paxos has been ordered by the New York Department of Financial Services (NYDFS) to halt the issuance of BUSD. After the crackdown on Kraken last week and now Paxos, the regulator’s actions may increase nervousness among crypto investors. FOX Business journalist Eleanor Terrett tweeted on Feb. 12 that “more Wells notices going out in the coming 2-3 weeks, …

2023 is off to a great start, with Bitcoin (BTC) rocketing up 40% in January. The good news is not relegated to just Bitcoin, however, as this price increase has sent ripple effects across the cryptoverse. Mining revenue jumped $22.66 million in January, and crypto-related stocks doubled on average. Despite this good news, venture capital investments are down 23% from the previous month. Download and purchase this report on the Cointelegraph Research Terminal. For a more detailed look into the various sectors of the crypto space, including venture capital, derivatives, decentralized finance (DeFi), regulations and much more, Cointelegraph Research publishes …

Bitcoin (BTC) drifted toward major liquidity around the Feb. 13 Wall Street open as the dust settled on United States regulatory news. BTC traders spread bids lower Data from Cointelegraph Markets Pro and TradingView showed BTC/USD $21,476 on Bitstamp, almost matching the weekend’s three-week lows. As analysts expected a “choppy” day prior to key U.S. macroeconomic data, news that Blockchain firm Paxos was being sued by the Securities and Exchange Commission (SEC) added to market nerves. BTC spot price action thus inched ever closer to a major area of bid liquidity on the Binance order book, something which Maartunn, a …

Bitcoin (BTC) is known for its robustness, security and predictability. Every 10 minutes–on average–the blockchain produces a new block and the successful miner earns a block reward of 6.25 BTC, circa $130,000. However, every once in a while, the Bitcoin blockchain surprises observers and participants. At block height 776,339, nodes across the network verified a completely empty block. The block was added to the Bitcoin blockchain with zero included transactions–leading to some confusion among the crypto community. So, what exactly is an empty block, and how does it happen? First, while an empty block might seem strange at first, it's …

Bitcoin (BTC) starts a new week just under $22,000 as bulls fail to reclaim lost ground in February. After some modest volatility towards the weekly close, BTC/USD is still near three-week lows as a new status quo enters with $22,000 as resistance. The largest cryptocurrency stands at the beginning of an important week of macroeconomic data, however, with plenty of opportunities for volatility to return. These come first and foremost in the form of the U.S. Consumer Price Index (CPI), the January print for which will be released on Feb. 14. Other data prints will follow throughout the week, and …

Blockstream CEO Adam Back believes the price of Bitcoin (BTC) could reach $10 million by the end of the sixth halvening in 2032, as long as Bitcoin layer-2 technology and wallet infrastructure improves. In a Feb. 12 Twitter thread, Back, one of the contributors to Bitcoin core, was explaining to his 509,000 followers in what situation Hal Finney’s $10 million price prediction for BTC could come true. He noted that BTC has doubled in price year-on-year on average since 2013 and explained that if that trend continues, BTC price would reach $10M along with a $200 trillion market cap in …

Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility. Although the near term is uncertain, analysts at Delphi Digital expect the United States Federal Reserve to pivot to an accommodative policy later in the year and that could be favorable for risk assets. Another bullish projection came from Pantera Capital CEO Dan Morehead who said that Bitcoin’s “seventh bull cycle” may have begun. Morehead highlighted …