Bitcoin price

Cryptocurrency prices are plunging again amid ongoing inflation and after Celcius, a crypto lending platform, paused withdrawals and transfers.

I have USDC in my account that I want to use to repay my loan that has a margin call right now, but I can't even repay the damn loan because of the transfer freeze. Some people on social media are referring to today as “Black Monday.” So where does crypto go from here? - Celsius: This is the wildcard on this list. Crypto investors are seeing red this morning as the entire cryptocurrency market appears to be heading off a cliff. As is completely understandable, Celsius users on Twitter are furious. This reduced consumer spending spooks the markets, which usually causes investors to flee riskier investments.

The bitcoin price has crashed, dragging down ethereum and other major cryptocurrencies. CryptoCodex. The combined cryptocurrency market has dropped below $1 ...

💷 On Thursday, the U.K.'s Bank of England will make its interest rate decision. "We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations," the company said in a blog post, adding it needed time to "stabilize liquidity and operations." Catch up quick: After the dramatic collapse of the terraUSD (UST) stablecoin and its support coin luna last month, crypto traders had been nervously watching the likes of Celsius, fearing similar high-interest accounts could also face difficulties as the bitcoin price continued to crash. 🏦 On Wednesday, the U.S. Federal Reserve will announce its latest interest rate decision with economists widely predicting another 50 basis point hike. Mercury rising: Major crypto lending platform Celsius has suspended all withdrawals from its platform due to what it called "extreme market conditions" as cryptocurrency prices go into free fall and users rush to get their coins off the platform. The issuer of the $72 billion tether stablecoin has this morning distanced itself from Celsius. "While Tether’s USDT a statement. Why it matters: Questions have been raised and rumors are swirling about how connected Celsius is to the wider crypto ecosystem and if the contagion will spread. Markets in the U.S. are set to open sharply lower, following declines in Asian and European stocks. Mere hours before suspending withdrawals, Celsius chief executive Alex Mashinsky hit out at critics on Twitter, denying users were having trouble withdrawing funds and accusing them of spreading FUD—a popular crypto acronym for "fear, uncertainty and doubt." 🗣 Tomorrow, the U.S. Securities and Exchange Commission (SEC) chairman, Gary Gensler, will deliver remarks on the SEC's agenda at an event organized by the Wall Street Journal. Speaking last month, Gensler warned of more pain to come for the crypto market and said he feared "there’s going to be a lot of people hurt." ⚙️ Wall Street giant JPMorgan is gearing up to bring trillions of dollars of tokenized assets into the world of blockchain-based decentralized finance (DeFi) as it looks to tap the yield-generating potential of non-crypto assets "with the scale of institutional assets." Crypto lending platform Celsius' cel cryptocurrency has lost a face-melting 50% over the last 24 hours due to the platform suspending withdrawals, citing "extreme market conditions," sparking fears of an imminent collapse.

The world's most popular crypto asset also took a heavy knock from news that crypto lending platform Celsius Network paused withdrawals, citing volatile ...

"The digital currency dived more than 16 percent to hit $22,603 in afternoon London deals, striking a level last seen in December 2020. "The digital currency dived more than 16 percent to hit $22,603 in afternoon London deals, striking a level last seen in December 2020. In recent years, the crypto sector benefitted from a vast infusion of cash due to easy money policies from the world's biggest central banks. "The worry is that inflation is becoming too hot to handle by central banks who will be forced to douse economies with jets of freezing water, in the form of much steeper interest rate rises, to get it under control," added Streeter. "With the era of cheap money coming rapidly to an end, traders are becoming much more risk averse and turning their backs on crypto assets." "Today we are announcing that Celsius is pausing all withdrawals, swap, and transfers between accounts," the platform said in a statement. 'Severe bruising' - "Bitcoin and ether are continuing to get a severe bruising in the ring," said Hargreaves Lansdown analyst Susannah Streeter. In recent years, the crypto sector benefitted from a vast infusion of cash due to easy money policies from the world's biggest central banks. "The worry is that inflation is becoming too hot to handle by central banks who will be forced to douse economies with jets of freezing water, in the form of much steeper interest rate rises, to get it under control," added Streeter. "With the era of cheap money coming rapidly to an end, traders are becoming much more risk averse and turning their backs on crypto assets." "Today we are announcing that Celsius is pausing all withdrawals, swap, and transfers between accounts," the platform said in a statement. 'Severe bruising' - "Bitcoin and ether are continuing to get a severe bruising in the ring," said Hargreaves Lansdown analyst Susannah Streeter.

As Bitcoin's price plummets, so could its associated energy use and greenhouse gas emissions. It all depends on how electricity costs compare to the ...

So de Vries thinks that the potential energy savings — and the resulting reduction in emissions — could be even larger when taking the plunging prices of other energy-hungry cryptocurrencies into account. Bitcoin is the biggest player in cryptocurrency, so its swinging prices matter most for the environment. A sustained price at around $24K could shrink the Bitcoin network’s global energy use to around 170 TWh annually, according to de Vries. That might sound like an incremental change, but it would add up to a significant drop in electricity use and related greenhouse gas emissions. It’s also why Bitcoin has a lot of people concerned about the greenhouse gas emissions the cryptocurrency generates. It’s still too soon, though, to make concrete predictions on whether Bitcoin’s price plummet will ultimately be beneficial for the environment. Bitcoin’s value has nosedived enough to curb the cryptocurrency’s enormous energy use — and associated greenhouse gas emissions — but only if prices stay low.

During the weekend, economist Peter Schiff tweeted that Bitcoin's price was poised to crash to $20,000 and that the entire crypto market cap would fall below ...

The action of large investors converting their small assets to Bitcoin could aid the recovery. Bitcoin is on a sharp downtrend, and with the global market cap falling below $1 trillion, many investors are spooked, and selling pressure could intensify. Short-term traders could use this as a sign to buy Bitcoin at the current dip, depending on the technical data. The consumer price index increased to 8.6% on a year-over-year basis in May, which was below the expectations that it would drop. The cryptocurrency market has been in a bearish state since the beginning of the year. During the weekend, economist Peter Schiff tweeted that Bitcoin’s price was poised to crash to $20,000 and that the entire crypto market cap would fall below $800 billion.

Bitcoin (BTC) is trading at its lowest since mid-December 2020 on June 13, but the bottom could be anywhere. As the weekend sell-off intensifies, BTC/USD has ...

My guesstimate is Celsius added 1.2x to the fuel. Also worth paying attention to is $14,000, equating to an 80% retracement from the current all-time highs, he added. "This is just my opinion, I'm often wrong. Should BTC/USD drop below $20,000, it would be the first time ever that a previous halving cycle's all-time high would be crossed. While describing the bounce at the 200 SMA as a "self-fulfilling prophecy," thanks to the scope of interest in it, he warned that there was a guarantee that BTC/USD would not continue south this time around. At the time of writing, meanwhile, BTC/USD had managed to avoid a fresh dive in line with U.S. equities markets.

Bitwise CIO Matt Hougan says we're seeing a “giant stress test” on the cryptocurrency market. “By and large, most things are passing the test, ...

To him, the real question is “Are there more shoes to drop?” This will continue “until we hit bedrock and the excesses in the market are cleansed from the system,” Hougan said. “The challenge is: We don't yet know with clarity what the downstream effects of Celsius unwinding will be, or if there are other entities facing challenges as well. He wasn't quite the same as when he went there. By and large, most things are passing the test, but not everything.” The $20,000 mark is scary territory.

Bitcoin has fallen far below the $30K support zone after almost a month of tight consolidation. The price has formed a bearish flag with a valid breakout.

The next bull run will be expected only if the ongoing capitulation is over and then bullish sentiment returns to the market. This chart consists of the mean amount of coins per transaction sent to the exchange(SMA-30) and Bitcoin’s price. This interprets significant selling pressure among participants and the capitulation event. During the last test of the $32K resistance level, the RSI had values around 50, which indicated that the momentum would not be sufficient for a bullish breakout. This is further supported by the fact that the monthly BTC RSI has never been lower than it is right now. Bitcoin has been dropping rapidly over the past few days and is currently testing the $23K-$24K demand zone.