Bitcoin (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin's $850 billion capitalization, which isn't anywhere close to silver's $1.4 trillion, or the Amazon and Google's $1.7 trillion market value. Bitcoin's market cap is often compared to gold, which has a $12.3 trillion total value and is currently the leading global store of value solution. Therefore, the answer to the $45,000 resistance might lay …

Prime Minister of Canada Justin Trudeau has announced he will repeal emergency powers used to freeze $8 million from 210 bank accounts connected to Canadian ‘Freedom Convoy’ protestors, according to CBC news. On Feb. 24, Trudeau stated in a televised press conference that “we’re ready to confirm that the situation is no longer an emergency” and said that his special powers granted by the Emergencies Act would end. He added: “We are confident that existing laws and bylaws are now sufficient to keep people safe.” Today, after careful consideration, we’re ending the use of the Emergencies Act. Existing laws and …

Blockchain company Bitfury announced the launch of a new crypto-mining data center in Ontario, Canada. The new crypto mining center adds to the list of existing Canadian sites currently operating in Drumheller, Alberta and Medicine Hat. Bitfury partnered with Hut 8 Mining, a Toronto Stock Exchange-listed Bitcoin (BTC) mining company, to set up mining operations across North America. The new crypto mining facility in Ontario is expected to operate at 16 megawatts (MW) by the end of this month. According to the announcement, Bitfury has plans to add 12MW capacity in the coming months, which will bring up the total …

Canada's war on Bitcoin (BTC) appears to be backfiring as the country's flagship exchange-traded fund (ETF) adds thousands of BTC. Data from on-chain monitoring resource Coinglass shows that over the two weeks to Feb. 24, the Purpose Bitcoin ETF has increased its holdings from 28,854 BTC to 32,257 BTC — 11.8%. Institutions shrug off Canada's crypto crackdown After a two-month lull in which its holdings actually modestly decreased, Purpose is back in fashion among institutional investors. The about-turn comes against a backdrop of what many are calling an "advertisement" for Bitcoin — the Canadian government blacklisting private wallets and formally …

Amid the barrage of last week’s regulatory news, from rumors of Joe Biden’s upcoming executive order on digital assets to another round of the Russian government’s crypto tug of war, the storyline that was arguably the most consequential for the mainstream narrative on the social effects of crypto has been the one around the Canadian government’s standoff with the Freedom Convoy. The government’s invocation of emergency powers to put down a protest movement — combined with the movement’s financial infrastructure being one of the main attack vectors — has led many observers to appreciate with renewed vigor Bitcoin’s capacity to …

Canada’s move to freeze Bitcoin (BTC) wallets and bank accounts related to COVID-19 vaccine protests is driving cryptocurrency adoption, with some crypto naysayers reconsidering their stance on Bitcoin. David Heinemeier Hansson, the Ruby on Rails web development framework creator, took to Twitter on Monday to tell his followers that he was no longer a Bitcoin skeptic. “I still can’t believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto's fundamental necessity in Western democracies,” Hansson wrote. …

Protesting anti-vax truckers blockading downtown Ottawa, Canada had their fund-raising platform shut down because their host fears the “promotion of violence.” The protesters move to a Bitcoin crowdsourcing funding service. It quickly raised $900,000. Russian troops gather on Ukraine’s borders. Ukrainian NGOs and volunteer groups embrace cryptocurrencies to help defend their country in the event of a coming war, according to a Feb. 8 investigation by Elliptic, a blockchain analytics firm. Recent reports like these raise the question: Are Bitcoin and other cryptos becoming the preferred fundraising platform for political protesters and social movements — given that cryptocurrencies don’t respect …

As reported by Canadian news outlet The Globe and Mail, the Royal Canadian Mounted Police (Canada's federal police force) sent letters to several cryptocurrency exchanges demanding that they "cease facilitating any transactions" with more than 30 specific cryptocurrency wallet addresses linked to the ongoing truck protests in the country. The letter writes: "Any information about a transaction or proposed transaction in respect of these addresses, is to be disclosed immediately to the Commissioner of the Royal Canadian Mounted Police." Just two days prior, Prime Minister Justin Trudeau, representing the ruling Liberal Party of Canada, invoked the Emergencies Act in response …

Bitcoin (BTC) opted for fresh upside on Feb. 15 as a trip to near $40,000 saw an abrupt change of direction. RSI prints classic bull signal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining swiftly overnight into Tuesday, going on to pass $44,000. A classic relative strength index (RSI) breakout, this time on the lower 4-hour timeframe, preceded the move, which put the pair a full 6% higher versus Monday's lows. #Bitcoin 4 Hour RSI broke out and MACD just had a Bullish Cross: pic.twitter.com/2bRVFeQsfX — Matthew Hyland (@MatthewHyland_) February 14, 2022 "I do think these are the …

Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto. Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of Terrorist Financing rules. It targets “crowdfunding platforms and the payment service providers they use.” “These changes cover all forms of transactions including digital assets such as cryptocurrencies.” Together, protesters had amassed over $19 million in funds through the fundraising platforms GoFundMe and GiveSendGo. However, those …

Michelle Rempel Garner, a member of the House of Commons of Canada, has introduced a bill proposing the government set up a framework to encourage the growth of the cryptocurrency sector in the country. In the first reading of Bill C-249 in the House of Commons on Wednesday, Garner proposed having Canada’s Minister of Finance — currently Chrystia Freeland, a member of the country's Liberal Party — consult with industry experts to develop a regulatory framework aimed at boosting innovation around cryptocurrencies. The bill, titled the “Encouraging the Growth of the Cryptoasset Sector Act,” would also require the Finance Minister …

In response to institutional investors' concerns about the risks of trading in a new asset class, TMX Group, Canada's major stock market operator, has revealed plans to launch its first-ever crypto futures product. While speaking to Reuters, TMX Group's John McKenzie said that the firm plans to release the product on the Montreal Exchange later this year. According to Mackenzie, "more institutional investors and dealers are [...] holding more crypto assets within their portfolios or for their clients or in ETFs," adding they are working on how to mitigate risk due to crypto's huge volatility. Cointelegraph reached out to TMX …