Tether (USDT) briefly overtook Ethereum in market capitalization during a recent market sell-off, becoming the second-largest cryptocurrency. Bloomberg's Mike McGlone predicts that Bitcoin could face a severe crash down to $10,000 due to a looming macroeconomic 'hangover' and rising interest rates aimed at controlling inflation. This shift reflects a broader trend of stablecoins gaining prominence as investors seek safer assets amid economic uncertainty. McGlone warns that the historic crypto bull run will likely be followed by a significant correction, influenced by changing political and economic conditions.
Bitcoin and Ethereum prices fell steeply last week, with Bitcoin down 17.3% and Ethereum 22%, causing a $390 billion drop in total crypto market value. The decline is linked to minor Bitcoin sales by Strategy, a shift of investment towards AI stocks,...
Solana (SOL) fell sharply, down over 25% in a week, as Bitcoin dropped below $60,000, dragging altcoins lower amid macroeconomic pressures. SOL is at a critical support level, with traders watching for either a rebound or further decline, influenced ...
Grayscale's recent sale of 32 BTC from its large stash and $128 million in shares has raised concerns about its accumulation strategy led by Michael Saylor. The sales have negatively impacted market sentiment, causing Bitcoin's price to drop 16% this...
Bhutan's government sold 738 bitcoin valued at about $44.88 million on June 6, continuing a trend of reducing its state bitcoin holdings from a peak of over 13,000 BTC. The sales are linked to funding the Gelephu Mindfulness City, a major development...
XRP dropped to around $1.09 as macroeconomic pressures and Bitcoin's decline influenced the broader crypto market. The token fell over 18% in the past week and 22% in the past month, with no new XRP-specific developments to support a rebound. Trading...
