All posts tagged: BTC

Bitcoin dropped to ,000 as 0M leveraged longs liquidated in 60 minutes

Bitcoin dropped to $58,000 as $450M leveraged longs liquidated in 60 minutes

Published by Parlour News

Crypto markets saw a huge shock as about $450 million in leveraged long positions were wiped out in just 60 minutes, showing how fast trading can turn risky when prices move sharply. Crypto markets saw $450M in leveraged long liquidations as Bitcoin fell to $58,000. (Pexel/Representative image) (Pexel) Crypto liquidation crash Bitcoin fell to around $58,000 after the sell-off, hitting one of its weakest levels since late 2024 and shaking trader confidence. The $58,000 level is now a key “battle zone,” where buyers are trying to support the price while sellers are trying to push it lower. A large part of the drop was not due to any weakness in Bitcoin’s technology or adoption, but due to forced selling from leveraged trades. Bitcoin leverage trading risk Leveraged long positions mean traders borrow money to bet that Bitcoin will go up, which increases both profit and risk. When Bitcoin falls below a trader’s liquidation price, exchanges automatically sell their position to protect the borrowed money, as per the report by CoinGlass. This forced selling creates more …

Students ‘vandalise’ BTC secretariat over Assam cabinet nod to report on ST status to 6 communities

Students ‘vandalise’ BTC secretariat over Assam cabinet nod to report on ST status to 6 communities

Published by Parlour News

Kokrajhar , Students of the Bodoland University here on Saturday stormed the assembly hall of the BTC secretariat, and allegedly vandalised properties in protest against the Assam cabinet’s approval of a report on granting ST status to six other communities of the state, officials said. Students ‘vandalise’ BTC secretariat over Assam cabinet nod to report on ST status to 6 communities Hundreds of tribal students took out a six-km-long march from the university campus to the Bodoland Territorial Council secretariat, where they “broke through the barricades and closed the main gate, before barging into the assembly hall”. They “vandalised the hall by breaking chairs and other furniture, pulling out mikes, smashing window panes and throwing flower pots around”, the officials said. Additional security forces were rushed to the spot and the situation brought under control following their negotiations with District Commissioner Masanda M Pertin and SSP Akshat Garg. The agitating tribal students also submitted a memorandum to Chief Minister Himanta Biswa Sarma, BTC chief Hagrama Mohilary and the Ministry of Tribal Affairs through the DC …

Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details

Russia Approves Tax Bill on Cryptocurrency Transactions Amid BTC Boom: Details

Published by Webster

President Vladimir Putin’s government is swiftly moving to regulate the crypto sector amid Bitcoin’s historic boom. In a recent development, the Federation Council, Russia’s Upper House of Parliament, approved a bill outlining the taxation framework for crypto assets. Putin has long sought to reduce Russia’s reliance on the US dollar for international transactions, and tools like CBDCs and cryptocurrencies are seen as key to achieving this goal. Under this bill, Russia has classified virtual digital currencies as property and introduced a tax of 13 to 15 percent on crypto sales generating personal income, a CoinTelegraph report citing information from the official document noted. To position Russia as a crypto mining hub, the government has exempted crypto miners from value-added tax (VAT) on mined cryptocurrencies. Miners are required to comply with government regulations and report necessary information to local authorities. Violations of these guidelines may result in a fine of RUB 40,000 (roughly Rs. 30,754). The bill has passed three readings in the Russian legislature and is awaiting President Putin’s signature to become law. The timeline …

Microsoft Could Make BTC Investment Progress by December, Despite Board Being Cautious on Crypto

Microsoft Could Make BTC Investment Progress by December, Despite Board Being Cautious on Crypto

Published by Webster

Despite its notorious volatility and lack of regulation, the crypto sector appears to be gaining traction within the global investment community. By December, software giant Microsoft is expected to finalise its stance on adding Bitcoin to its balance sheets. Currently, the company is inviting shareholder feedback to gauge support for exploring Bitcoin investments. This development comes just weeks ahead of Microsoft’s 2024 Annual Shareholder’s Meeting. The Redmond, Washington-based company submitted a filing to the US Securities and Exchange Commission (SEC) this week, that revealed this development. The document shows that the company board members have ‘recommended’ the voters to vote against Microsoft assessing Bitcoin investments. Bitcoin was founded in 2009 by its anonymous creator famed by the pseudo name, Satoshi Nakamoto. Around October 2009, BTC was priced $0.0009 (roughly Rs. 0.076). Over the course of the last 15 years, BTC’s value has touched the mark of $73,738 (roughly Rs. 69.9 lakh). As of Friday, October 25, BTC was trading at $67,767 (roughly Rs. 56.9 lakh) with its total market cap standing at a whopping $1.34 …

Bitcoin Price Above $61,000, Ether and Majority Altcoins See Losses Ahead of BTC Halving

Published by Webster

The crypto chart mostly reflected losses on Friday, April 19. Bitcoin, for instance, is trading at $61,815 (roughly Rs. 51.6 lakh) having recorded a loss of 0.23 percent. This is Bitcoin’s trading value in India, as per the crypto price tracker by Gadgets360. On international exchanges like Binance, Bitcoin is trading at $62,160.14 (roughly Rs. 51.9 lakh). For most part of this week, Bitcoin has managed to remain under the shadow of volatility, ahead of its fourth halving event that is expected to take place between April 19 and April 21. “Over the last few hours, $34.03 million in Bitcoin long positions have been liquidated. But the overall sentiment remains bullish as on-chain metrics show that over $1.7 billion worth of BTC have been accumulated by holders in the last few days. BTC’s current price point is acting as a temporary support,” Shivam Thakral, CEO of BuyUcoin told Gadgets360. Ether clocked a loss of 0.45 percent on Friday. With this, the trading value of the asset hit $2,999 (roughly Rs. 2.50 lakh) on Gadgets360’s crypto …

Mudrex Opens BTC ETF Investments for Indians with Minimum Commitment of $5,000

Published by Webster

Members of India’s crypto community can now invest in spot Bitcoin ETFs (exchange-traded funds) through Mudrex. The Indian crypto investment platform announced the roll-out of this service on its app on Monday, March 11. Both, retail as well as institutional investors will be able to use this service to engage with Bitcoin trading without having to create an account on an exchange and purchase the cryptocurrency. Ever since BTC ETFs were approved in the US this January, the cryptocurrency has seen a massive inflow of capital from investors. ETFs track the value of the underlaying asset, and they trade on traditional market exchanges rather than crypto exchanges. This lets people engage with Bitcoin without having to register with a crypto platform. Mudrex, in its announcement said, it decided to bring this service to the platform after seeing repeated demands from its users. The minimum amount for people to start investing in BTC ETFs on Mudrex stands at $5,000 (roughly Rs. 4.13 lakh) whereas the maximum amount could be $250,000 (roughly Rs. 2 crore). While this …

Crypto Price Today: Profits Take Over Crypto Charts as 11 BTC ETFs Bag Historic Approval in US

Published by Webster

Bitcoin on Thursday, January 11 minted a small profit and continued trading at the price point of $46,331 (roughly Rs. 38.4 lakh). In a historic development, the US SEC finally gave the green signal to 11 Bitcoin ETF applications that include Blackrock, Fidelity, and Invesco among others. This has ushered in an excitement-induced sentiment among the global crypto community even though Bitcoin did not show an immediate reaction to the development. Profits are beginning to seep onto the price chart in the backdrop of this development. Ether minted a profit of 9.99 percent on Thursday. With this, the value of ETH has touched the price point of $2,606 (roughly Rs. 2.16 lakh). This is a 20-month high for Ether. “The decision to greenlight 11 spot Bitcoin ETFs reflects a growing acceptance and recognition of digital assets within traditional financial markets. This move is expected to bring about increased adoption, liquidity, and overall market maturity. It also signifies a shift in the perception of cryptocurrencies from a niche asset class to one that is gaining mainstream …

‘Freedom Visa’: What is El Salvador’s New Plan to Boost Tourism, Revenue Via BTC

Published by Webster

El Salvador, the country that historically became the first in the world to ordain Bitcoin as a legal tender, has created a plan to boost its tourism industry and subsequently its economy in due time. The National Bitcoin Office (ONBTC) of the central American nation has announced a new initiative called the Freedom Visa. The development comes after a long silence from El Salvador, that is currently working to develop a tax-free, volcano-powered Bitcoin city. The Freedom Visa is a donation-based citizenship programme. Through this, El Salvador will grant a residency visa to those willing to donate a million-dollar worth of Bitcoin or Tether into the national treasury. To do so, the Salvadoran government has partnered with stablecoin issuer Tether, it said in an official announcement earlier this month. Tether Powers El Salvador’s Visionary Freedom Visa Program Through Technology Support :flag-sv::volcano: Experience Freedom, Security and a #Bitcoin lifestyle by adopting El Salvador as your home through the Freedom Visa Program. For more information, please visit :arrow_down:https://t.co/QdF6XPDsO3 — Tether (@Tether_to) December 7, 2023 Each year, the …

Crypto Market Eyes Interest Rates, Expected Bitcoin ETFs in 2024 After Recovery

Published by Webster

After ending 2023 on a high, crypto investors will be watching central bank interest rates and a US regulatory decision on new bitcoin products as they decide how to place their bets next year. Cryptocurrencies staged a recovery this year after a torrid 2022 in which a market meltdown and a string of scandals, including the collapse of FTX and fraud charges against its CEO, Sam Bankman-Fried, undermined the credibility of the industry. The price of bitcoin, the biggest cryptocurrency and the market’s chief barometer, has more than doubled this year, reaching a 20-month high in November of $42,000 (about Rs. 35 lakh) per token. As of Friday, 2023 was its best year since 2020 in terms of percentage gains. The market has been buoyed by expectations that cooling inflation will allow central banks globally to forgo further rate hikes and start easing next year, making risk assets more attractive. A long-anticipated move by the US Securities and Exchange Commission (SEC) to approve a spot bitcoin exchange-traded fund (ETF) has also been a boost. Those themes, …

NFT, BTC ETF Buzz Bulked Up Crypto Cap, Breathes Back Life into Market Before 2023 Ends: Binance

Published by Webster

The market valuation of the crypto sector has risen significantly by 110 percent year-to-date, a report compiled by Binance said over the weekend. In the fourth quarter of 2023, the crypto market rose in value by $870 billion, which marks a 55 percent boom from this year’s third quarter that lasted between July and September. The improvement in the sales of non-fungible tokens (NFTs) these recent months, along with the buzz around Bitcoin ETFs waiting for approvals in the US, have emerged among the top reasons, launching the crypto market cap up the price ladder. This change in the market status comes as a breath of fresh air for investors, who had been part of a slowed-down market since the end of 2021. As Bitcoin climbed to its nineteen-month high value of around $44,000 (roughly Rs. 36 lakh), NFTs built on the Bitcoin blockchain also recorded an uptick in their values. Ordinal NFTs, which are inscribed on the smallest unit of BTC called Satoshi, not only created hype this year but also became a means …