Tom Lee defended the long-term value of Bitcoin and Ethereum, stating their core thesis is not broken despite recent underperformance compared to AI and software stocks. He highlighted the growing importance of crypto infrastructure in areas like automated commerce, tokenization, and blockchain settlement systems. Lee also projected Bitcoin's price could reach $2 million based on network activity and scarcity compared to gold. He expects U.S. economic growth to accelerate and market volatility to continue until late 2026, followed by a strong rally starting in October.
Cryptocurrency markets show a general downward trend with major coins like Bitcoin dropping 4.09% to $69,184 and Ethereum falling 0.33% to $1,976.82. Other notable declines include XRP, BNB, and ADA, reflecting cautious investor sentiment. Some coins...
Bitcoin has fallen below the $70,000 mark, placing it beneath the lowest valuation band on the Bitcoin Rainbow Chart, a model that tracks its long-term price trend using logarithmic regression. This suggests Bitcoin is currently undervalued relative ...
Ethereum fell below its key $2,000 support level, reaching a low near $1,963, driven by Bitcoin's drop below $70,000 for the first time in nearly two months. The decline was triggered by MicroStrategy's $2.5 million Bitcoin sale and record outflows f...
Mt Gox, the defunct crypto exchange that lost over 850,000 Bitcoin to hackers, recently transferred 10,423 BTC worth about $739 million to a new wallet. This move, followed by another smaller transfer, signals preparations for the final distribution ...
Bitcoin price fell below $70,000 following over $3.4 billion in ETF outflows and a $739 million BTC transfer linked to Mt. Gox, stirring fears of increased market supply. The drop broke key support levels between $72,500 and $73,000, triggering $744 ...
