* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, May 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

    Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

    Georgia Entertainment CEO says large-scale production is slowing down – Decaturish

    Georgia Entertainment CEO Warns of Slowdown in Large-Scale Productions

    Zugalu Entertainment Welcomes Crimson Herring Studios to Its Family!

    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Harnessing emerging technologies to power a small business – The Oaklandside

    Unlocking Success: How Emerging Technologies Can Transform Your Small Business

    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Technology Innovation to Take Center Stage at The 2025 National Restaurant Association Show – Restaurant Technology News

    Get Ready for a Tech Revolution: The 2025 National Restaurant Association Show Unveils Cutting-Edge Innovations!

    Newmont signs deal to use Chrysos Corporation technology – Capital Brief

    Newmont Partners with Chrysos Corporation to Revolutionize Mining Technology

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

    Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

    SXSW Rom-Com ‘I Really Love My Husband’ Acquired for U.S. Release – Variety

    Heartfelt Romance: ‘I Really Love My Husband’ Set to Captivate U.S. Audiences!

    Georgia Entertainment CEO says large-scale production is slowing down – Decaturish

    Georgia Entertainment CEO Warns of Slowdown in Large-Scale Productions

    Zugalu Entertainment Welcomes Crimson Herring Studios to Its Family!

    Fall 2025 TV Schedule: Your Guide to the Complete Lineup – Wyoming News Now

    Get Ready for Fall 2025: Your Ultimate Guide to the Exciting TV Lineup!

    Blackstone River Theatre presents music from Scotland with Cantrip – The Valley Breeze

    Experience the Enchanting Sounds of Scotland: Cantrip Takes the Stage at Blackstone River Theatre!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Harnessing emerging technologies to power a small business – The Oaklandside

    Unlocking Success: How Emerging Technologies Can Transform Your Small Business

    Artificial intelligence (AI) – The Guardian

    Unlocking the Future: How Artificial Intelligence is Transforming Our World

    Technology Innovation to Take Center Stage at The 2025 National Restaurant Association Show – Restaurant Technology News

    Get Ready for a Tech Revolution: The 2025 National Restaurant Association Show Unveils Cutting-Edge Innovations!

    Newmont signs deal to use Chrysos Corporation technology – Capital Brief

    Newmont Partners with Chrysos Corporation to Revolutionize Mining Technology

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Air Force Invests in Whisper’s Ultraquiet Propulsion Technology – FLYING Magazine

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trump administration set to overhaul Biden’s AI chip export regulations – TechHQ

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Bitcoin tumbles back to $60,000 to start the week

June 24, 2024
in General
Bitcoin tumbles back to $60,000 to start the week
Share on FacebookShare on Twitter

A photo illustration depicting the cryptocurrency bitcoin.

Jakub Porzycki | NurPhoto via Getty Images

Bitcoin continued its descent to $60,000 on Monday.

The price of the flagship cryptocurrency was last down more than 6% at $60,010.43, according to Coin Metrics, its lowest level in more than a month and about 17% from its March record. In the past week, it’s fallen more than 10%.

Crypto investment products notched a second consecutive week of outflows, according to CoinShares, and last week, they saw their lowest trading volumes globally since the U.S. bitcoin ETFs launched in January.

“We have now seen $1.2 billion of outflows from crypto ETFs over the last two weeks which all began after the FOMC meeting. Our belief is that continued pessimism over the number of rate cuts is weighing on sentiment for crypto,” James Butterfill, head of research at the crypto-focused asset manager, told CNBC.

“The Fed have indicated they need to see further evidence of inflation falling before they become more dovish, so any macro say that highlights inflation continues to fall will likely support prices, and conversely, an inflationary date will weigh on prices,” he added.

Eleanor Gaywood, head of strategy at Coincover, said there are often market jitters ahead of the personal consumption expenditure index, the Fed’s preferred inflation gauge, which is due this Friday. She said signs of a rate cut in September could ease investor nerves and steady bitcoin’s price.

Stock Chart IconStock chart icon

hide content

Bitcoin has been steadily descending since the beginning of June

Additionally, bitcoin saw a jump in long liquidations, forcing traders to sell their assets at market price to settle their debts. In the past 24 hours, $134.94 million in long bitcoin liquidations have occurred across centralized exchanges, according to CoinGlass.

Cryptocurrencies broadly tumbled with bitcoin. Ether lost 5%, while the token tied to smart contracts platform Solana fell 3%, payments token XRP slipped more than 2%, and meme token dogecoin dropped 5%.

In equities, Coinbase and MicroStrategy declined 7% and 10%, respectively. Miners were lower across the board.

Last week, CryptoQuant suggested bitcoin could slide back to $60,000, after breaking below the key support of $65,800, due to a lack of bullish momentum. The company’s on-chain data shows traders have been reducing their holdings since bitcoin touched $70,000 in late May and have yet to start buying again.

For the month, bitcoin is down nearly 10%. At the start of June, it briefly touched the $71,000 level but has been on a steady decline since. It has been largely stuck in a narrow range between $60,000 and $70,000 since the middle of March when it reached its all-time high of $73,797.68.

Investors and analysts are confident the cryptocurrency will rebound and notch another record this year. Ryan Rasmussen, an analyst at Bitwise Asset Management, called the price action “bullishly choppy.”

“There’s a market-changing tailwind behind crypto that isn’t reflected in the choppy price action on a week-to-week basis,” he said, pointing out bitcoin’s more than 40% year-to-date gain, progress on ether ETFs and crypto’s political tides shifting in its favor.

“From a long-term investment thesis, bitcoin has rarely been more attractive than it is right now.”

Don’t miss these stories from CNBC PRO:

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CNBC – https://www.cnbc.com/2024/06/24/crypto-market-today.html

Previous Post

Trump Media stock soars 30%, breaking weekslong decline in DJT share price

Next Post

Webb captures gravitationally bound star clusters

‘Active Management’ Harms Forests — And It’s About to Get a Whole Lot Worse – The Revelator

‘Active Management’ Harms Forests — And It’s About to Get a Whole Lot Worse – The Revelator

May 10, 2025

Unlocking the Future: How Innovation Funds Propel Breakthroughs in AI, Bioengineering, and Materials Science

May 10, 2025
Talking Animals: Veteran science journalist Stephen S. Hall recounts reporting and research that yielded Slither, singular book on snakes – WMNF 88.5 FM

Unraveling the Secrets of Snakes: A Journey with Veteran Science Journalist Stephen S. Hall

May 10, 2025
Lifestyle Lookout: Mother’s Day brunch in Bellingham, Big Jam Stories in Ferndale and The Spring Wine Walk – My Bellingham Now

Unforgettable Mother’s Day Brunch, Big Jam Stories, and the Spring Wine Walk: Exciting Events in Bellingham and Ferndale!

May 10, 2025
WCK Forced to Halt Cooking in Gaza as Supplies Run Out – World Central Kitchen

World Central Kitchen Suspends Operations in Gaza Amid Supply Crisis

May 10, 2025
China Reacts to Trump Claims About ‘Suffering’ Chinese Economy – Newsweek

China Responds to Trump’s Claims of Economic Struggles: What You Need to Know

May 10, 2025
Flutter Entertainment eyes U.S. prediction markets amid growing interest – Sports Business Journal

Flutter Entertainment Sets Its Sights on U.S. Prediction Markets as Interest Soars

May 10, 2025
Optimizing Human Health On Earth And In Space – Texas A&M Today

Optimizing Human Health On Earth And In Space – Texas A&M Today

May 10, 2025
Rep. Marjorie Taylor Greene says she won’t run for U.S. Senate – NBC News

Marjorie Taylor Greene Declares She’s Not Entering the Senate Race!

May 10, 2025
Harnessing emerging technologies to power a small business – The Oaklandside

Unlocking Success: How Emerging Technologies Can Transform Your Small Business

May 10, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (597)
  • Economy (608)
  • Entertainment (21,521)
  • General (15,210)
  • Health (9,650)
  • Lifestyle (613)
  • News (22,149)
  • People (611)
  • Politics (615)
  • Science (15,830)
  • Sports (21,118)
  • Technology (15,598)
  • World (598)

Recent News

‘Active Management’ Harms Forests — And It’s About to Get a Whole Lot Worse – The Revelator

‘Active Management’ Harms Forests — And It’s About to Get a Whole Lot Worse – The Revelator

May 10, 2025

Unlocking the Future: How Innovation Funds Propel Breakthroughs in AI, Bioengineering, and Materials Science

May 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version