Within the last hour, Bitcoin's (BTC) price dropped by more than 3%, extending the decline that started on May 12 and saw the digital asset drop as low as $46,000 on some exchanges. Initially, it was Tesla’s May 12 announcement that it would stop accepting Bitcoin as payment over environmental concerns, along with technical weakness and a nearly complete head-and-shoulders technical pattern, that pushed BTC's price down to $46,000. May 13’s bearish catalyst appears to be a Bloomberg Tax report claiming that the United States Justice Department and the Internal Revenue Service are investigating Binance Holdings Ltd. for alleged “illicit …

Bitcoin (BTC) and altcoins’ markets lost a combined total of up to $602 billion overnight in a shocker brought forth by Elon Musk. The billionaire entrepreneur did an about-turn on his decision to accept Bitcoin for the electric vehicles offered by his company Tesla. He cited environmental concerns, noting that Bitcoin mining requires many fossil fuel burnings, especially coal. Bitcoin prices started falling sharply within the first five minutes of Musk’s tweets in the late hours on Wednesday in the United States. The prices further plunged into the Asia-Pacific session on Thursday, logging an intraday low of $46,000 at one …

The cryptocurrency market corrected sharply on May 12 after the hype surrounding dog-themed tokens was deflated when Ethereum co-founder Vitalik Buterin dumped vast amounts of the previously hot Shiba Inu (SHIB), Dogelon Mars (ELON) and Akita Inu (AKITA) on the market and donated the proceeds to charity. Data from Cointelegraph Markets and TradingView shows that as meme tokens sold off, Bitcoin (BTC) price continued its recent weakness and declined nearly 8% decline to $53,500 before recovering to $54,700. Ether (ETH) was less affected by the sell-off and actually managed to recover above $4,000 to reclaim its daily losses as users …

Ether (ETH) set a second all-time high on May 12 as the largest altcoin continued on its way to what analysts say will be $5,000. Funding rates could hold key to ETH resilience Data from Cointelegraph Markets Pro and TradingView tracked ETH/USD as the pair put in two all-time highs in a single day on Wednesday. Part of the now notorious "alt season 2.0," Ether hit $4,350 earlier on the day, only to better its performance hours later and reach $4,380. Now under 15% away from $5,000, multiple commentators' forecasts of Ethereum’s native token hitting the landmark price level are …

Ether (ETH), the second most-valued cryptocurrency after Bitcoin (BTC), has hit a major milestone amid the ongoing price rally. On Wednesday, Ether’s price set another historic record, surging to as high as $4,346, according to data from CoinMarketCap. Ethers market capitalization briefly surpassed $500 billion, reaching nearly $505 billion on Wednesday. The new milestone marks Ether’s ongoing massive surge after it surpassed the $4,000 price mark for the first time in its history on Monday. At the time of writing, ETH is trading at $4,317, up more than 6.4% over the past 24 hours and seeing massive gains of about …

Bitcoin (BTC) gained 4.3% on Wednesday as cryptocurrencies recovered losses despite increasing turmoil on global stock markets. BTC price reverses upward Data from Cointelegraph Markets Pro and TradingView showed BTC/USD erasing almost all the previous day’s losses on Wednesday to trade above $57,500 at the time of writing. The move came amid concerns over froth in tech stocks, fueled by problems in Taiwan that saw the country’s equities index post its biggest one-day loss in history. Bitcoin and altcoins had sold off with tech stocks more broadly earlier in the week, but the latest macro dip failed to worsen their …

The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday's drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level. Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Ether seen in recent weeks has begun to fade as traders question whether new all-time highs will be sustainable in the short term. Data from Cointelegraph Markets and TradingView shows that Bitcoin bulls defended a late-night sell-off on May 10 that briefly dropped the price of BTC below …

The last couple of weeks have been nothing short of astonishing for Ether (ETH), as the cryptocurrency hiked over 80% to reach a $4,200 all-time high. Even after a 7% correction, the gains accumulated in 2021 surpass 300%, and Ether currently holds a market capitalization that exceeds $450 billion. In the face of such a mind-blowing performance, neither the futures contracts premium nor the options fear and greed indicator signal extreme optimism in the market. This data will likely lead some analysts to question whether traders are losing confidence in Ether's future price prospects. Citing the rationale for the current …

Major United States-based cryptocurrency exchange Gemini has experienced two service disruptions on Monday and is now reporting degraded performance in its mobile app, web interface and application programming interface. According to an update on the Gemini status page, the crypto exchange began investigating reports of potential service disruptions at 13:24 EST on Monday. Though the exchange said it had restored all of its services only minutes later, Gemini reported another service disruption a few hours later, saying its systems were “experiencing degraded performance” due to an undetermined cause. At the time of publication, deposits and withdrawals of all tokens supported …

The astronomical rally in Ether (ETH) is not showing any signs of slowing down. The bulls easily cleared the overhead hurdle at $4,000 today, which also pushed the biggest altcoin’s market dominance to over 19%. It is not only Ether that is witnessing sharp buying from traders. Litecoin (LTC) and Cardano (ADA) have also risen new all-time highs, suggesting a broad-based altcoin rally. However, Bitcoin (BTC) seems to have lost its momentum as it continues to struggle near the $60,000 mark. That has pulled its market dominance to below 44% for the first time since July 2018. However, the recent …

Bitcoin (BTC) is off to yet another fighting start on Monday, hitting $59,500 — is this the week we see $60,000? After a promising but restrained weekend, BTC/USD is once again back to beating out resistance as major markets reopen. Given the strength of underlying technicals and buyer demand, bulls may have cause for celebration in the next few days. Resistance, however, has kept them in check for weeks. Cointelegraph presents five things that may help to shape Bitcoin price action. Dollar down on oil pipeline attack Stocks began on a familiar positive note in Asia as traders betted on …

Ether (ETH) eclipsed $4,000 for the first time on Monday, passing the psychologically significant barrier on multiple exchanges, including Coinbase. The new milestone comes just a week after breaking $3,000. Last week, ETH overtook Bank of America stock as the 28th-largest asset in the world. But at $454.49 billion as of today, ETH has now eclipsed the market capitalization of consumer-staples giants Wal-Mart and Johnson and Johnson, and it is knocking at the door of JPMorgan Chase — the largest United States bank by assets under management. Part of the rise may be linked to increasing institutional interest in the …