BTC Bitcoin Cryptocurrency Betting
Bitcoin is the cryptocurrency that started it all. There are dozens of other Cryptocurrencies you can use to deposit at BookMaker and hundreds more on the periphery, but Bitcoin is the most well-known of the bunch. Other cryptos such as Ethereum, Litecoin, Cardano, and Ripple have become more popular too, signifying how mainstream crypto is becoming to the public.
Monday, March 23, 2026 News Update
Crypto Markets Rocked by Geopolitical Headlines, $400M in Liquidations
Crypto traders were caught in a rapid back-and-forth on Monday, as conflicting geopolitical headlines triggered more than $400 million in liquidations across both long and short positions. Bitcoin surged from $67,500 to above $71,200 after U.S. President Donald Trump posted on Truth Social that he had instructed the Pentagon to delay planned strikes on Iranian power plants for five days, citing “very good and productive conversations” with Iran.
The move sparked an immediate rally—but the momentum didn’t last. Iran quickly denied any such discussions. According to the semi-official Fars news agency, there had been “no direct or indirect communication with Trump,” adding that the U.S. had backed off after learning potential retaliation targets would include power infrastructure across West Asia. Within minutes of that denial, Bitcoin erased roughly $1,200 from its highs.
Data from CoinGlass shows that approximately $415 million in liquidations occurred within a four-hour window surrounding the headlines. Short positions accounted for $280 million of that total, while long liquidations came in at $135 million—suggesting traders were initially positioned for escalation before being caught off guard by the sudden shift in tone. Bitcoin led the liquidations at $140 million, followed by ether at $120 million. Brent oil futures on Hyperliquid saw $64 million wiped out, while tokenized gold and silver recorded losses of $20.9 million and $19.8 million, respectively.
Price action throughout the session reflected the volatility. Bitcoin traded between $67,500 and $68,500 during the Asia session, surged nearly $3,700 within an hour on the initial headline, and then pulled back sharply after Iran’s response. It later stabilized above $70,000, up 2.3% on the day.
The move underscores a broader market dynamic: when derivatives trading outweighs spot activity—currently by roughly five-to-one—headline-driven moves can trigger cascading liquidations in both directions. Shorts were squeezed on the initial de-escalation narrative, only for longs to be caught offside when sentiment abruptly reversed.
Strategy Slows Bitcoin Buying Pace
In other news, Michael Saylor’s Strategy (MSTR) continued adding to its bitcoin holdings last week, though at a significantly slower pace than recent buying activity. The company purchased 1,031 BTC for approximately $76.6 million, at an average price of $74,326 per coin. That brings total holdings to 762,099 BTC, acquired for roughly $57.69 billion, or an average cost basis of $75,694.
The latest purchases were funded entirely through common stock sales, according to a Monday filing. However, the scale of buying marks a notable slowdown. In each of the prior two weeks, Strategy deployed more than $1 billion into bitcoin, aided by capital raised through its STRC preferred share issuance.
Bitmine Expands Ether Bet Despite Billions in Unrealized Losses
Also, Bitmine Immersion Technologies (BMNR) continued aggressively accumulating ether, purchasing 65,341 ETH last week as it leans into the current market downturn. The acquisition—valued at approximately $138 million—brings the firm’s total holdings to over 4.66 million ETH, representing about 3.86% of the circulating supply.
The company has now increased its pace of buying for three consecutive weeks, up from a prior average of roughly 50,000 ETH per week. It also boosted its cash position to $1.1 billion. Chairman Thomas “Tom” Lee said the strategy reflects confidence that the market is nearing a turning point, describing ethereum as being in the “final stages of a mini crypto winter.”
Despite the continued accumulation, Bitmine is currently sitting on an estimated $7 billion unrealized loss on its ether holdings, according to DropsTab data, following months of declining crypto prices.
Bitcoin Weekly Price Per CoinMarketCap
| WEEK |
BITCOIN PRICE IN USD |
| March 23, 2026 |
70,757.97 |
| March 16, 2026 |
74,308.61 |
| March 9, 2026 |
68,784.23 |
| March 2, 2026 |
66,240.80 |
| February 23, 2026 |
67,397.26 |
| February 16, 2026 |
67,355.84 |
| February 9, 2026 |
69,299.11 |
| February 2, 2026 |
78,452.73 |
| January 26, 2026 |
87,495.40 |
| January 19, 2026 |
92,761.48 |
| January 12, 2026 |
90,448.83 |
| January 5, 2026 |
93,308.06 |
Monday, March 16, 2026 News Update
Bitcoin Surges Past $74K as Markets React to U.S.-Iran War
Bitcoin pushed higher over the weekend as the war in the Middle East moved into its third week, with the cryptocurrency’s bullish momentum continuing into Monday. During the early Asian trading session Monday morning, Bitcoin climbed above $74,000. At the time of publication, the leading cryptocurrency was trading just over $74,000, up 3.1% on the day and 9.1% over the past week.
The rally has come despite escalating geopolitical tensions tied to the growing conflict between the United States and Iran, which has created turbulence across global markets.
U.S. President Donald Trump warned that it would be “very bad for the future of NATO” if allied nations do not help secure the Strait of Hormuz. In an interview with the Financial Times, Trump reiterated comments he made Sunday on TruthSocial, where he urged countries that rely on oil passing through the strategic waterway to “take care of that passage,” adding that the United States would help “a lot.”
Market uncertainty has pushed crude oil steadily higher. Oil is currently trading at $99.25 per barrel, up nearly 28% from its March 9 low, though still below last week’s peak of $119.48.
Gold, traditionally considered a safe-haven asset during geopolitical instability, has surprisingly declined about 7% since the conflict began on February 28. Bitcoin, which had behaved more like a risk-on asset over the past five months, has instead gained roughly 11% during the same period, widening the performance gap between the two assets.
Analysts say Bitcoin’s rise is not directly tied to the war itself, but to the broader macroeconomic effects stemming from the conflict. Tim Sun, a senior researcher at crypto operator HashKey Group, told Decrypt that rising oil prices, slowing economic growth, and expanding government deficits are likely to increase fiscal pressure in the United States.
“The combination of high oil prices, weak growth, and deficit expansion means future U.S. fiscal pressure will only increase,” Sun said, adding that those pressures will eventually feed back into liquidity concerns within financial markets.
Sun also noted that selling pressure from short-term speculative traders appears to be fading, leaving the market increasingly controlled by medium- and long-term investors.
Illia Otychenko, lead analyst at CEX.IO, pointed to blockchain data supporting that view. Bitcoin Days Destroyed — a metric that measures the movement of long-dormant coins — recently fell to its lowest level in nearly three years.
“That suggests the investors with the strongest conviction are largely holding their positions,” Otychenko said, adding that the geopolitical uncertainty may actually reinforce patience among long-term holders.
Analysts also say Bitcoin’s recent recovery has been supported by the exhaustion of short-term sellers, continued conviction among long-term investors, and the stabilization of inflows into Bitcoin exchange-traded funds over the past three weeks. Options market data also suggests the potential for additional upside.
Market intelligence firm Glassnode noted in a Monday Telegram update that a large pocket of “negative gamma” exists near the $75,000 strike price. This level contains a significant concentration of call options held by institutional market makers who would incur losses if Bitcoin rises beyond that point.
If the price approaches that level, market makers who sold those call options could be forced to buy Bitcoin to hedge their exposure, potentially accelerating upward price movement.
Sentiment in the broader crypto market remains cautiously optimistic. Users on the prediction market Myriad — owned by Decrypt’s parent company Dastan — currently assign a 55% probability that cryptocurrency markets will rally this spring.
Still, some analysts caution that the structure of the current rally may not be entirely stable.
“Even though Bitcoin functions as a sovereign, globally liquid asset that operates outside traditional financial intermediaries, the structure of this rally isn’t entirely healthy,” Sun said.
As tensions in the Middle East continue, Bitcoin may increasingly benefit from demand for an alternative cross-border asset that can operate independently of the traditional financial system.
However, analysts say investors should closely watch the upcoming March meeting of the Federal Open Market Committee and the U.S. Federal Reserve’s outlook on inflation, growth, and broader macroeconomic conditions.
Monday, March 9, 2026 News Update
Strategy Adds 17,994 BTC in Latest Buying Spree, Now Controls 3.4% of All Bitcoin
Bitcoin-focused treasury firm Strategy purchased another 17,994 BTC between March 2 and March 8, spending roughly $1.28 billion at an average price of $70,946, according to a Monday SEC 8-K filing.
The company now holds 738,731 BTC—worth about $50 billion—acquired at an average cost of $75,862 per coin for a total outlay of $56 billion, including fees. That stash represents over 3.4% of Bitcoin’s fixed 21 million supply and currently reflects roughly $6 billion in mark-to-market losses, per co-founder and executive chairman Michael Saylor.
How Strategy Funded the Buys
The latest accumulation was financed through ongoing at-the-market (ATM) sales of its MSTR Class A common stock and its STRC perpetual preferred stock. Last week, Strategy sold 6,327,541 MSTR shares for approximately $899.5 million, leaving $6.71 billion in remaining issuance capacity. It also sold 3,776,205 STRC shares for about $377.1 million, with $3.16 billion still available.
These offerings operate alongside Strategy’s broader perpetual preferred stock programs. STRK is the firm’s convertible option, offering an 8% non-cumulative dividend and equity upside. STRC is a variable-rate, cumulative preferred stock with monthly dividends designed to keep the security trading near par. STRF is the most conservative, featuring a 10% cumulative dividend and no conversion rights. STRD carries the highest risk-reward profile, offering a 10% non-cumulative dividend without convertibility.
All four programs support Strategy’s ambitious “42/42” plan, which targets $84 billion in equity and convertible-note capital raises for bitcoin acquisitions through 2027.
Public Companies Continue Accumulating Bitcoin
According to Bitcoin Treasuries data, 193 public companies now follow some form of bitcoin-acquisition strategy. The rest of the top 10 holders include:
MARA – 53,822 BTC
Twenty One (Tether-backed) – 43,514 BTC
Metaplanet – 35,102 BTC
Adam Back – 30,021 BTC
Bitcoin Standard Treasury Co. (Cantor Fitzgerald-backed) – 24,300 BTC
Bullish – 18,005 BTC
Riot Platforms – 15,389 BTC
Coinbase – 13,696 BTC
CleanSpark – 13,363 BTC
Despite the accumulation trend, many of these firms’ share prices have fallen sharply from their 2025 summer highs as market-cap-to-NAV ratios compress. Strategy itself is down 71%, with its mNAV now around 0.99.
Farage Invests in U.K. Bitcoin Treasury Firm Stack BTC
In separate news, Nigel Farage, leader of the Reform UK party, invested £215,000 ($286,000) in Stack BTC (STAK) during a fundraising round that also included Blockchain.com. Stack raised £260,000 by issuing 5.2 million new shares at 5 pence each, with trading of the new shares set to begin on the Aquis Growth Market on March 12.
Farage made the investment through Thorn In The Side Ltd., giving him a 6.31% stake post-admission. He reiterated his long-standing support for Bitcoin and argued the U.K. should position itself as a global crypto hub. Reform UK has actively courted crypto-aligned voters by accepting digital-asset donations.
Stack BTC is chaired by former Chancellor Kwasi Kwarteng, who said the investment aligns with the company’s strategy of acquiring cash-generative U.K. businesses while accumulating bitcoin as a treasury reserve. The firm currently holds 21 BTC.
Monday, March 2, 2026 News Update
Saylor Says Bitcoin’s Slump Mirrors Apple’s 2012 “Valley of Death”
Bitcoin’s sharp pullback may look less like a failure and more like a familiar tech-market pattern, according to Strategy (NASDAQ:MSTR) Chair Michael Saylor. He argues that Bitcoin’s nearly 47% drop from its October peak of $126,000 resembles Apple’s 45% slide in 2012–2013, a period he calls the company’s “valley of death” that lasted until markets fully re-rated its value in 2020.
On the Feb. 23 episode of the Coin Stories podcast, Saylor told host Natalie Brunell that Apple’s fundamentals were never in doubt during its crash—and he believes the same is true for Bitcoin today. He also pointed to Amazon (NASDAQ:AMZN), noting that markets didn’t fully appreciate its long-term value until 2020.
Saylor framed these deep drawdowns as a feature, not a flaw, of successful technology investments. “There really is no successful technology investment where you didn’t have to weather the 45% drawdown and go through that valley of despair,” he said.
Bitcoin’s current downturn has lasted 137 days so far, but he suggested it could take years—just as it did for Apple. “If it took seven years, congratulations. It’s just like Apple computer.”
He added that the biggest winners are those who endure volatility before the broader market catches up. When asked why Bitcoin failed to reach widely projected highs before entering its current bear phase, Saylor pointed to a shifting market structure. As derivatives trading migrates from offshore venues to regulated U.S. markets, volatility is naturally reduced. “Instead of an 80% drawdown and an 80 vol, you get a 40% or 50% drawdown and a 50 vol,” he said.
Saylor also dismissed concerns about quantum computing’s threat to Bitcoin, calling it years away and noting that Bitcoin would upgrade alongside global systems. He similarly brushed off recent attempts to link Bitcoin to Jeffrey Epstein, arguing that neutral technologies—from Google to Amazon—are used by both good and bad actors.
Meanwhile, Strategy continues to expand its holdings. The company purchased 3,015 BTC last week for roughly $204.1 million at an average price of $67,700. It funded the buys through $229.9 million in common stock sales and $7.1 million from its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), according to a Monday filing.
With the latest acquisition, Strategy now holds 720,737 BTC, accumulated for approximately $54.77 billion at an average cost of $75,985 per coin.
Monday, February 23, 2026 News Update
Tariff Hike Sparks Market Jitters as Bitcoin Slides Toward $67K
President Donald Trump increased the global tariff rate to 15%, pushing ahead despite a recent Supreme Court ruling that struck down earlier emergency trade actions. The move maintains pressure on China and other trading partners and has added fresh uncertainty to global markets.
Bitcoin slid back toward $67,000 in Sunday trading as investors digested the administration’s decision to lift the global tariff rate from 10% to 15%. The increase comes even after the Supreme Court invalidated earlier emergency measures, a ruling that briefly appeared to limit Washington’s ability to impose sweeping tariffs ahead of Trump’s planned March 31 trip to Beijing.
Instead, the administration raised the worldwide rate, keeping pressure on partners while the legal basis remains contested. China now faces the same 15% levy applied to U.S. allies, set within a 150-day window. Markets are left navigating both escalation and legal ambiguity — a combination that typically dampens appetite for risk.
Trade friction isn’t limited to Asia. In Europe, lawmakers are signaling hesitation over advancing the Turnberry Agreement, saying they want clearer commitments from Washington before moving forward.
For now, crypto remains tightly tethered to macro sentiment. Until tariff policy stabilizes, digital assets are likely to move with broader risk trends rather than on crypto-native developments.
South Korean Prosecutors Recover $22M in BTC Lost to Phishing Scheme
South Korean prosecutors say they have recovered roughly $22 million in Bitcoin that had previously been reported missing after a phishing scheme compromised government-held wallets. The incident drew national outrage in January, when officials in Gwangju admitted they had lost access to 320 confiscated BTC stored across five USB-based cold wallets locked inside a secure vault. The controversy deepened when police in Seoul later acknowledged a similar loss worth about $2 million.
A Gwangju prosecution official told local outlet Munhwa Ilbo that authorities intend to “conduct a thorough investigation to clearly explain the full details of the case.” The Gwangju District Prosecutors’ Office said it first realized the Bitcoin was gone on January 16.
According to officials, staff members had attempted to verify wallet balances during an August 2025 audit using what they believed was an online wallet-checking tool. The site turned out to be a phishing platform, allowing its operators to automatically drain all five wallets.
Prosecutors say they quickly identified the phishing site’s associated crypto wallet and requested that both domestic and major international exchanges block any transactions linked to it. They also opened an investigation into the suspected operator of the phishing platform and several related companies.
The cold wallets had originally been seized in November 2021 during an investigation into an alleged illegal online gambling ring. They were found in the possession of the suspect’s daughter, who now faces charges alongside her father. Both trials remain ongoing in Gwangju.
Following the revelations, prosecutors and police nationwide were ordered to audit all confiscated cold wallets to ensure no additional digital assets had gone missing.
Monday, February 16, 2026 News Update
Bitcoin’s Slide Deepens, but ETF Flows Suggest Long Term Holders Aren’t Fleeing
Bitcoin’s steep drop from its record above $126,000 last October has cast a shadow over the broader crypto market. A trade once pitched as “digital gold” — or, for some, a high-beta play in a crypto-friendly Trump administration — has seen confidence shaken as prices continue to retreat.
Since that all-time high, bitcoin has shed nearly half its value, and its failure to mount any meaningful rebound has revived fears of another “crypto winter.” The comparison to 2022 is unavoidable: during the FTX collapse, bitcoin plunged from near $50,000 to roughly $15,000. Over just the past month, the cryptocurrency is down more than 25%.
Yet analysts on CNBC’s “ETF Edge” argue that the flow data tells a more nuanced story. While money has moved out of bitcoin and crypto ETFs, the withdrawals don’t resemble broad capitulation by long-term investors.
The iShares Bitcoin Trust (IBIT) has seen about $2.8 billion in net outflows over the past three months — a meaningful figure, but modest when set against the nearly $21 billion in net inflows the BlackRock fund has attracted over the past year, according to VettaFi. Across all spot bitcoin ETFs, the pattern is similar: roughly $5.8 billion in outflows over the past three months, but still $14.2 billion in net inflows over the past year. Assets are leaving, but the bulk of investor capital remains in place, and ETF specialists say the selling isn’t coming from the financial advisors and long-horizon allocators who have recently embraced the asset class.
“It’s not the ETF investors who are driving the sell-off,” said Matt Hougan, CIO at Bitwise Asset Management, on “ETF Edge.” He pointed instead to long-time crypto holders trimming exposure after years of accumulation, as well as hedge funds and short-term traders using the most liquid ETFs as tactical tools — quick to exit when momentum turns negative.
At CNBC’s Digital Finance Forum last week, Galaxy CEO Mike Novogratz suggested the crypto market’s “era of speculation” may be fading, with future returns looking more like traditional long-term holdings. “It’s going to be real world assets with much lower returns,” he said, noting that retail investors historically entered crypto seeking outsized gains, not steady annualized returns.
Meanwhile, Wall Street advisors continue adding bitcoin to diversified portfolios and rolling out their own branded crypto ETFs. Hougan noted that these longer-term investors are more likely to ride out volatility. If they were abandoning the space, he said, the recent three-month outflows would be far closer to the scale of the prior year’s inflows.
Still, the current environment is difficult for anyone who entered the market recently. “It’s tough to be a bitcoin investor right now,” said Will Rhind, founder and CEO of GraniteShares, on “ETF Edge.” The strong performance of traditional safe-haven assets — especially gold — has added to the discomfort. For those who embraced the “digital gold” thesis, bitcoin’s nearly 50% decline during a period when gold is hitting all-time highs has been jarring. “This is not supposed to happen,” Rhind said.
Additional Market Pressures: Gold’s Surge, Tech’s Sell-Off, and Shifting Crypto Psychology
Timot Lamarre, director of market research at Unchained, said to the media, that there’s “definitely an element of ‘gold is familiar.’ People understand gold.” That familiarity, combined with massive central-bank buying, has fueled gold’s explosive rise. Global central banks purchased record amounts of gold last year, and JPMorgan expects another 800 tons of buying in 2026.
Bitcoin’s decline has also unfolded alongside a sharp tech-sector sell-off. More than $1 trillion in market value was erased from Big Tech names including Microsoft, Alphabet, Nvidia, Meta and Oracle during last week’s downturn. Goldman Sachs’ Panic Index briefly spiked to 9.22 — approaching “max fear” territory — as investors worried that aggressive AI spending could echo the excesses of the dot-com era.
Despite the turbulence, some crypto investors remain optimistic, arguing that bitcoin’s pullback reflects profit-taking after last year’s massive rally. Anthony Pompliano — known widely as “Pomp” — told CNBC’s “Squawk Box” that a psychological threshold likely kicked in once bitcoin crossed $100,000. “If you held Bitcoin for a long time, you hit $100,000 — there are some people who just said, ‘This is enough for me. Step off the train,’” he said.
There is also growing frustration within the crypto community over stalled federal legislation aimed at establishing clearer digital-asset rules. Lamarre noted that expectations were high after Trump’s campaign-trail promises to create a Strategic Bitcoin Reserve and ease regulatory pressure on the industry. “It’s not what people had expectation-wise,” he said, pointing to the lack of progress in the Senate and the absence of any large-scale government bitcoin purchases.
Monday, February 9, 2026 News Update
Why the “Bitcoin to $0” Narrative Is Spreading And What It Really Signals
A sharp 20% drop in Bitcoin over the past week has revived one of crypto’s most dramatic bearish theories: the idea that Bitcoin’s long-term value could ultimately fall to zero.
The latest spark came from American talk show host Buck Sexton, who wrote that every conversation with Bitcoin believers leaves him “more certain that Bitcoin has no long-term value, and a floor price of zero.” His comments spread quickly across social media, tapping into a broader wave of fear already gripping the market.
What the Zero-Dollar Theory Actually Claims
The core argument is simple: Bitcoin’s value depends entirely on confidence. If that confidence breaks, critics say there is no intrinsic “floor” to stop the price from collapsing. This idea has existed for years, but the current downturn has pushed it into mainstream conversation, amplified by media figures and even some previously bullish traders.
Why the Narrative Is Growing Now
Several prominent critics have resurfaced with renewed conviction:
Richard Farr, chief market strategist at Pivotus Partners, said his firm’s Bitcoin target is “$0.0,” arguing that Bitcoin has failed as a hedge, remains correlated to tech stocks, and hasn’t gained traction as a medium of exchange. He also pointed to miner stress and energy costs.
Peter Schiff repeated his long-standing view that Bitcoin has no utility beyond belief, contrasting it with gold’s physical uses.
Sexton added that the emotional reactions from Bitcoin supporters reinforce his skepticism, arguing that true long-term believers should welcome lower prices rather than react defensively.
Why Fear Is Spreading Faster This Time
The current market structure magnifies downturns. Bitcoin’s investor base in 2026 includes large ETF flows, leveraged traders, and institutions — not just long-term holders. When prices fall sharply, leveraged positions unwind, ETFs see outflows, and selling accelerates rather than stabilizes.
Bullish Forecasts Have Lost Credibility
The zero-dollar narrative is also gaining traction because high-profile bullish predictions have repeatedly missed:
A viral “Bitcoin about to pump hard” post on Jan. 30 was followed by a 6% drop and $1.6 billion in liquidations.
Michael Saylor drew criticism after suggesting Bitcoin could reach $10 million “tomorrow” if global consensus formed around its value.
Fundstrat’s Tom Lee and other long-time bulls have faced renewed skepticism as their forecasts fail to materialize.
But the Long-Term Bull Case Hasn’t Disappeared
Despite the noise, major institutions still argue that Bitcoin’s long-term trajectory remains intact.
ARK Invest’s Big Ideas 2026 report projects:
A global crypto market of roughly $28 trillion by 2030
Bitcoin representing about 70% of that market
A potential Bitcoin price between $950,000 and $1 million
Cathie Wood points to easing inflation, lower rates, tax-related tailwinds, and a “rolling recession” already absorbed by the economy as reasons risk assets could recover.
Why Bitcoin Going to Zero Remains Unlikely
A collapse to zero would require far more than a bear market. It would demand:
A breakdown in global custody infrastructure
A collapse in institutional participation
Legal or regulatory elimination
A total loss of long-term belief
Given the scale of institutional ownership, ETF integration, and global custody systems, most analysts view a true zero outcome as extremely improbable.
Monday, February 2, 2026 News Update
Bitcoin Attempts to Stabilize After Sliding Below $80,000
Bitcoin edged modestly higher Monday after briefly breaking below $80,000 for the first time since April 2025. The cryptocurrency traded at just over $78,000 after what was a difficult weekend for the cryptocurrency in terms of price. Earlier, it had fallen to $74,876 before trimming some losses. Over the past week, Bitcoin has dropped roughly 12%, erasing more than $200 billion in market value, CoinMarketCap data shows.
Dessislava Ianeva, research analyst at Nexo, told CNBC the pullback aligned with a broader risk-off tone across global markets and was “amplified by structurally thin weekend liquidity,” rather than any crypto-specific catalyst or signs of fundamental stress.
The move came alongside weakness in equities. U.S. stocks slid Friday, led by a 10% drop in Microsoft after disappointing earnings. That sentiment carried into European and Asian markets Monday. Traditional safe havens also struggled, with gold and silver extending losses. Silver’s 30% plunge Friday marked its worst single session since March 1980.
Forced liquidations added pressure to Bitcoin’s decline. More than $2 billion in long and short positions have been wiped out since Thursday, according to Coinglass. Such liquidations can accelerate downside momentum as positions are automatically closed. Investors are also weighing the implications of Kevin Warsh being selected to succeed Jerome Powell as Federal Reserve chair.
Digital asset investment products saw a second straight week of outflows, totaling $1.7 billion, CoinShares reported. Year-to-date outflows now stand at $1 billion, signaling what head of research James Butterfill called a clear deterioration in sentiment toward the asset class.
Yuya Hasegawa of Bitbank said the sell-off reflects a mix of rising geopolitical risk, the tech-led equity downturn sparked by Microsoft, and a sharp breakdown in precious metals — one of the few remaining safe-haven outlets in recent weeks.
Despite its reputation as a volatility hedge, Bitcoin is down about 22% over the past year. Other major tokens, including ether and XRP, also traded lower Monday following several days of broad market selling. Saturday’s crypto-wide liquidations totaled $2.56 billion, the 10th-largest single-day event on record, according to Coinglass.
How Much Lower Could Bitcoin Go?
Market participants continue to expect significant volatility this year, with forecasts ranging from $75,000 to above $200,000. Hasegawa suggested a “short-term bottom” may be forming near $70,000, calling it a key reference level. A decisive break below that zone, he said, would likely require a broader reset in market conditions.
Others see deeper downside ahead. John Blank, chief equity strategist at Zacks, told CNBC that Bitcoin could fall to $40,000 this year. He argued that previous cycle patterns support the target, noting that Bitcoin has historically dropped 70–80% from its all-time highs during “crypto winters.” With the record peak at $126,000 in October, a move to $40,000 would represent roughly a 70% drawdown.
History
In January 2009, Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto remains hotly debated to this day, but that person or group changed the world with this invention. Like many major breakthroughs, it took a while for people to grasp why Bitcoin was special. Bitcoin was created in the midst of the banking crisis, and one of its major goals was to give people another option to buy and sell products outside of a heavily regulated and centralized banking system.
The first entities to fully embrace Bitcoin were black market enterprises like Silk Road. For a while, Bitcoin became synonymous with the notorious website, but its use became more and more widespread starting in 2013.
That led to the price of Bitcoin skyrocketing and reaching incredible heights in 2017. On January 1, 2017 a single Bitcoin was worth $998, but that price rose by nearly 20-fold near the end of the year, hitting an all-time high of $19,666 on December 17, 2017. Bitcoin has left those prices in the dust in 2021, as the price of Bitcoin is approaching $50,000.
Stability
One of the major criticisms of Bitcoin is that the currency wildly fluctuates and that has proven to be true in 2021. As Bitcoin has become more accepted and understood, investors are getting a better understanding of what leads to price changes, and that has led to the Bitcoin market looking a lot like the stock market.
Security
There have been fears over how secure Bitcoin is over the years, but transactions are even more secure as they are in the traditional marketplace thanks to blockchain technology.
Whereas we are constantly hearing stories of companies having their databases hacked and identities being stolen, the nature of blockchain presents this from happening with Bitcoin.
For a transaction to occur, the sender must know their private key and digitally sign the transaction, and the signature must be verified by the network using the public key. The number of private keys makes it nearly impossible to hack into another person’s account, but there is one thing to keep in mind. You MUST keep your private key backed up somewhere or else you will lose access to your Bitcoin. Don’t make the mistake of not backing up your private key and risk losing your hard earned money.
How do I buy Bitcoin?
You can buy Bitcoin by using one of the major currency exchanges such as Coinbase or Gemini. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin. You can then send Bitcoin to your sportsbook account and you can withdraw Bitcoin from your sportsbook account to your digital wallet.
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