Latest news with #BTCUSD
Yahoo
28-05-2025
- Business
- Yahoo
GameStop Stock Slips on Disclosure of $500 Million Bitcoin Buy
GameStop shares declined Wednesday after the retailer said it has recently bought 4,710 Bitcoin. The cryptocurrency's current prices value that Bitcoin at more than $500 million. The video game seller added Bitcoin to its corporate investment policy earlier this (GME) shares fell in Wednesday morning trading after the video game retailer disclosed the purchase of 4,710 Bitcoin (BTCUSD) in a press release. The company did not disclose when the purchase was made, at what price the Bitcoin was purchased, or whether it was acquired through one or multiple transactions. At its current prices of roughly $108,000, the Bitcoin that GameStop recently purchased is worth north of $500 million. The retailer added Bitcoin to its official corporate investment policy in March, following months of reports and social media posts fueling speculation that GameStop was considering investing in Bitcoin. After adding the cryptocurrency to its policy, GameStop said it was planning to issue $1.3 billion in convertible bonds for "general corporate purposes," including buying Bitcoin. In its annual report issued last month, GameStop cautioned investors that it would be subject to the risks that come with investing in Bitcoin and cryptocurrency at large, namely volatile price swings and potential regulatory shifts. The company did not disclose any Bitcoin ownership at the time. After rising in premarket trading following the news, GameStop shares were down 10% in Wednesday morning trading while the price of Bitcoin was down 1%. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Crypto-Related Stocks Rise as Bitcoin Sets Fresh All-Time High Above $111,000
Bitcoin hit a new record high of more than $111,800 around midnight ET Thursday, lifting shares of cryptocurrency-related firms. The digital asset hit the $110,000 mark for the first time Wednesday. The rally comes as the Senate voted to advance a bill that establishes a regulatory framework for stablecoins and as JPMorgan Chase CEO Jamie Dimon told investors the bank would allow clients to buy (BTCUSD) hit a new record high of more than $111,800 around midnight ET Thursday, lifting shares of cryptocurrency-related firms. The price of bitcoin, which surpassed $110,000 for the first time Wednesday, was recently trading just below $110,000. Shares of mining companies MARA Holdings (MARA) and Riot Platforms (RIOT) were up 4.4% and 3.3%, respectively, an hour before the opening bell Thursday. Shares of cryptocurrency exchange Coinbase Global (COIN) were up about 2%, while those of Strategy (MSTR), the largest corporate holder of bitcoin, rose 1.6%. The surge has come amid a busy week of crypto news. The Senate on Monday voted to advance a bill that establishes a regulatory framework for stablecoins, and JPMorgan Chase (JPM) CEO Jamie Dimon, a longtime crypto skeptic, said the bank would allow clients to buy bitcoin. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
As bitcoin hits another record high, why smaller crypto coins still lag behind
Bitcoin has hit another record high. But it hasn't brought other cryptocurrencies along for the ride. The largest cryptocurrency BTCUSD briefly traded at $109,497 on Wednesday, an all-time high, surpassing its previous high of $109,225 set on Jan. 20, President Donald Trump's inauguration day. Bitcoin rallied along with gold GC00, while stocks tumbled Wednesday afternoon, with the Dow Jones Industrial Average DJIA recording its worst day in a month. My ex-wife said she should have been compensated for working part time during our marriage. Do I owe her? 30-year Treasury yield is above 5% again — that's usually a bad sign for stocks My brother's 'good daughter' siphoned $70,000 from her father's accounts. Should she still get an inheritance? Bond 'vigilantes' are sending warnings globally. What does that mean for your portfolio? Three bank stocks to avoid — and 18 to buy — from analysts at Jefferies However, most other smaller cryptocurrencies were not performing as well. Ether ETHUSD, the second-largest cryptocurrency, was still 64% below its record high at $4,105 set in November 2021, though it has traded up 45% over the past 30 days. XRP XRPUSD, the fourth-largest crypto following Tether USDTUSD, a stablecoin with its value pegged to the U.S. dollar, traded 29% below its all-time high reached in January. Solana SOLUSD, often considered a strong competitor to ether, was 36.6% away from its record high recorded in January. Read: For altcoins to catch up, investors will need to see a clear breakout in bitcoin's price above its previous all-time high, according to John Glover, chief investment officer at crypto financial-service firm Ledn. Altcoins, which refer to cryptocurrencies with market capitalization smaller than bitcoin's, often follow bitcoin's rally, Glover said in emailed comments. A clear breakout means that bitcoin needs to trade above $110,000 for at least 24 hours, Glover added. 'That way you get the market across the globe to react to the 'breakout,'' he said. Altcoins will also need to see more regulatory clarity, which has already benefited bitcoin and helped it attract more institutional attention, according to Gerry O'Shea, head of global market insights at crypto asset-management firm Hashdex. While there have been exchange-traded funds investing in bitcoin and ether, there haven't been such products investing directly in other cryptocurrencies. In positive news for the industry, a bill aiming to regulate stablecoins, or cryptocurrencies with their value pegged to another asset, moved through a procedural vote on Monday, allowing Senate Republican leaders to bring the legislation to the floor for a final vote, which could happen as soon as this week. If enacted, the legislation could power more stablecoin adoption and benefit the blockchains where the stablecoins are issued, such as Ethereum, O'Shea said. U.S. budget deficits are reaching the tipping point where they could start hurting stocks My father's widow keeps sending me $200 checks in the mail. Why would she do this? I'm 57 and ready to retire next year on $7,500 a month, but my wife says no. Who's right? My husband and I spend more money on our daughter and her family than on my single son. Do we compensate him? 'What we found horrified us': My elderly relative mistook charity envelopes for overdue bills — and gave thousands to other family members Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Watch These Bitcoin Price Levels as Cryptocurrency Hits $110,000 For First Time
Bitcoin surged above $110,000 for the first time on Wednesday, surpassing its previous record set just before President Donald Trump's January inauguration. Since bottoming out last month, the cryptocurrency's price has trended higher within a rising wedge, a chart pattern that signals a potential reversal upon a breakdown. Bars pattern analysis projects a bullish price target of around $120,000. Investors should monitor crucial support levels on bitcoin's chart around $107,000, $100,000, and $92, (BTCUSD) surged above $110,000 for the first time on Wednesday, surpassing its previous record set just before President Donald Trump's January inauguration. The cryptocurrency gathered momentum this week after the Senate on Monday voted to advance a bill that establishes a regulatory framework for stablecoins and JPMorgan Chase CEO Jamie Dimon, a longtime crypto skeptic, said the bank would allow clients to buy bitcoin. The digital asset has also received a boost recently from growing demand from corporate treasuries. Michael Saylor's Strategy (MSTR), which popularized the idea, purchased an additional $765 million worth of Bitcoin last week, bringing the value of its holdings in the cryptocurrency to more than $63 billion. These latest developments reinforce expectations that Washington remains committed to developing a crypto-friendly regulatory framework and highlight the accelerating corporate acceptance of digital assets. Bitcoin was trading at $110,000 recently, after rising as high as $110,700 this evening. The digital currency has gained about 45% since hitting an early-April low of around $76,000, when investors fled risky assets amid growing concerns about global trade tensions that have since subsided. Below, we break down the technicals on bitcoin's chart and identify crucial price levels that investors will likely be watching. Since bottoming out last month, bitcoin's price has trended higher within a rising wedge, a chart pattern that signals a potential reversal upon a breakdown. Moreover, it's worth pointing out the move higher has occurred on decline trading volume, indicating that larger market participants may remain on the sidelines. However, more recently, the price has edged toward the pattern's upper trendline in a move that has coincided with the relative strength index crossing into overbought territory. In another win for BTC bulls, the 50-day moving average crossed above the 200-day MA on Wednesday to form a golden cross, a chart event indicating further upside. Let's use technical analysis to project a potential bullish price target above bitcoin's record high and also identify three crucial support levels worth monitoring during future retracements in the cryptocurrency. Investors can project a price target above bitcoin's record high by using the bars pattern tool. We apply this technique by taking the cryptocurrency's trend higher from late April to early May and repositioning it from Sunday's low. This analysis projects a target of around $120,000. We selected this prior trend as it commenced following a narrow consolidation range, similar to how the current move higher has started. The first lower level to monitor sits around $107,000. Investors will be watching if bitcoin's price can hold above the two prominent peaks that formed on the chart in December and January, with the area possibly flipping from prior resistance into future support. The bulls' inability to defend this crucial level could see the price fall to the psychological $100,000 mark. This area would likely provide support near a horizontal line that connects a series of trading activity on the chart stretching back to last November. Finally, a more significant drop opens the door for bitcoin's price to revisit lower support around $92,000. Investors may seek entry points in this area near the two moving averages, which closely align with a range of peaks and troughs that developed on the chart between November and March. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Bitcoin Hits New All-Time High Above $109,000
The price of bitcoin (BTCUSD) surged to a new record high Wednesday as the digital currency extended a rally fueled by renewed investor risk appetite and optimism about a favorable regulatory backdrop. Bitcoin jumped to nearly $109,500 this morning, surpassing its previous high of around $109,300 set in January and up from an overnight low of just under $106,000. The digital currency had slumped in April to around $76,000 as investors fled risky assets such as cryptocurrencies and stocks amid concerns about tariffs and their potential impact on the economic outlook. Concerns about global trade tensions have subsided, at least for now, while investors remain hopeful that the Trump administration and crypto-supportive lawmakers will implement policies that benefit the asset class. Shares of crypto-related firms—including major bitcoin buyer Strategy (MSTR), crypto exchange Coinbase Global (COIN), and bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT)—all were higher around midday. Read the original article on Investopedia
