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Yahoo
4 days ago
- Business
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Bitcoin Bull Run On The Brink As Long-Term Holders Accelerate Profit-Taking: Report
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin's (CRYPTO: BTC) sharp rise to an all-time high of $111,800 has entered a decisive phase, as data from Glassnode reveals intensified profit-taking by long-term holders. What Happened: The surge, initially driven by aggressive spot buying, is now encountering persistent sell pressure from earlier market participants, posing a critical test of the market's resilience. Glassnode's on-chain analysis released on Thursday shows that key support levels at $103,700 and $95,600 will likely determine whether bullish momentum can be sustained. "With key support at $103.7k and $95.6k, and signs of older investors offloading, the bulls now face a critical test of their resolve," the report states. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. While the current cycle has delivered multiple high-profit waves, the latest realized profits peaked at $1.47 billion per day, marking the fifth major sell event of this rally. Notably, the majority of this selling is being led by investors holding Bitcoin for over a year, indicating that this is not driven by speculative short-term traders but by conviction-led capital rotation. Historical accumulation zones, previously demand-heavy, have flipped into active distribution zones, particularly among holders who bought in the $25K–$31K and $60K–$73K ranges. Why It Matters: The shift signals a deeper market rotation, where seasoned holders are choosing to de-risk rather than bet on further upside. Cost basis and statistical models further highlight $103,700 and $95,600 as critical supports. A breakdown below these levels, particularly without a strong demand-side catalyst, could indicate broader trend exhaustion. Meanwhile, the resistance ceiling remains at $114,800. Short-term holder behavior also plays a role. The average cost basis for recent buyers sits at $97,100. If Bitcoin trades below this threshold for an extended period, it could challenge bullish sentiment among newer participants. Glassnode also notes that the profit-taking behavior has become more measured compared to prior bull cycles. While still intense, this regime suggests maturing investor psychology and decreasing speculative excess. The current cycle shows lower realized profit as a percentage of market cap compared to previous tops, reinforcing the idea of more structured capital flows. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock This article Bitcoin Bull Run On The Brink As Long-Term Holders Accelerate Profit-Taking: Report originally appeared on 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
4 days ago
- Business
- Yahoo
Anthony Scaramucci Says Sam Bankman-Fried's 25-Year Sentence Is 'Too Steep'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Anthony Scaramucci, the founder of SkyBridge Capital and former White House communications director, has expressed concern over the length of Sam Bankman-Fried's prison sentence, calling the 25-year term excessive despite being personally impacted by the collapse of FTX. "Is 25 years too steep of a price? I think it is," Scaramucci said during an interview with Crypto in America. "I think it's too steep of a price for what he did." Bankman-Fried, the founder of cryptocurrency exchange FTX, was sentenced to 25 years in federal prison in March 2024 for orchestrating one of the largest financial frauds in recent history. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. A federal jury had convicted him in November 2023 on seven criminal counts, including wire fraud and conspiracy to commit money laundering. Prosecutors alleged he misused billions of dollars in customer deposits to fund speculative investments, political contributions, and luxury real estate purchases. Scaramucci's comments come as a surprise given his direct involvement as an investor and victim of the FTX scandal. "Even though he harmed me, guys, I'm a victim of his crime," Scaramucci noted. "The guy really hurt my reputation. He hurt my business. I'm still entangled in the goddamn thing, you know?" Despite the personal damage, Scaramucci stated he does not hold resentment toward Bankman-Fried. "But I don't have anything other than a bad feeling for Sam. I don't have a vengeful feeling for him or anything like that," he added. While Scaramucci said he would not support a presidential pardon, he did indicate support for a reduced sentence. "Commuting his sentence or reducing his sentence would be something that if someone came to me and said, 'Hey, would you reduce his sentence?' I would say yes," he said. Bankman-Fried's sentencing followed a high-profile trial that became a defining moment in crypto's legal reckoning in the United States. Once a prominent figure in the digital asset space, Bankman-Fried's downfall sent shockwaves through the industry, eroding investor trust and prompting renewed regulatory scrutiny. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock This article Anthony Scaramucci Says Sam Bankman-Fried's 25-Year Sentence Is 'Too Steep' originally appeared on 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
03-06-2025
- Business
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Jerome Powell To Step Down? X Abuzz With Rumors, But Polymarket Bettors Are Not Buying It
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bettors on Polymarket were not convinced about Jerome Powell's exit as rumors circulated that the Federal Reserve Chair would step down on Monday. What Happened: The odds for the betting contract titled "Will Trump remove Jerome Powell in 2025?" remained unchanged at 12%, despite strong speculation on X regarding his resignation. According to the rules, the market will resolve to "Yes" if Powell ceases to be Fed Chair before Dec. 31. Over $838,000 has been wagered on this outcome as of this writing. Note that Polymarket, which operates on the Polygon (CRYPTO: POL) blockchain, is unavailable to U.S. residents due to regulatory restrictions. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. Widely followed X handles have been amplifying rumors that Powell will resign on Monday, despite no evidence supporting this possibility yet. The Fed didn't immediately return Benzinga's request for comment. Why It Matters: These developments come days after President Donald Trump summoned Powell to the White House. Trump informed the central bank chief that he was making a "mistake" by not lowering interest rates. Powell maintained the Fed's independence, stating that monetary policy "will depend entirely on incoming economic information. The rates have been kept steady at 4.25% to 4.50% for the third consecutive meeting. Tensions between Trump and the central bank over the direction of interest rate policy have persisted. Trump has continuously called for further cuts, arguing that inflation is no longer a pressing issue. While Trump has taken potshots at Powell, he stated earlier that he had 'no intention' of firing the Fed Chair. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo Courtesy: on Send To MSN: Send to MSN This article Jerome Powell To Step Down? X Abuzz With Rumors, But Polymarket Bettors Are Not Buying It originally appeared on
Yahoo
20-05-2025
- Business
- Yahoo
Bitcoin Skyrockets Past $105,000 Mark, Triggers $250 Billion Crypto Market Rally
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin (CRYPTO: BTC) has surged beyond the $105,000 mark, setting off a $250 billion rally in the wider cryptocurrency market. On Sunday, Bitcoin's climb to $105,424.45 has pushed its market value over $2.05 trillion and significantly lifted altcoin prices. According to reports, this surge follows a mix of inflation data, increased confidence regarding interest rate cuts, and significant fund inflows from both retail and institutional investors. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. The rise in Bitcoin's price, a 37.5% increase from its April low of less than $75,000, is propelled by a combination of strong technical breakouts and positive macro conditions. Open interest in Bitcoin futures has reached a record high of over $36 billion, indicating growing trader conviction. The broader crypto market is benefiting from Bitcoin's surge, with total capitalization exceeding $2.65 trillion—an increase of over $250 billion in just five trading days. Bitcoin's dominance is now over 53.2%, its highest in more than three years, as capital continues to shift into large-cap digital assets amid increasing regulatory clarity in major markets. Several macroeconomic and market catalysts are contributing to Bitcoin's parabolic move. These converging factors seem to have set the stage for Bitcoin's current breakout and may continue to support price appreciation in the short to medium term. While Bitcoin is grabbing headlines, altcoins are also making a comeback. Ethereum (CRYPTO: ETH) jumped 12% in 24 hours, breaking over important resistance at $6,000. Analysts monitoring the $110,000–$115,000 area as the next main obstacle believe Bitcoin's breach over $105K could pave the way for more upside. The present increase could still have legs given ETF inflows ongoing and macro conditions staying good; particularly, if Ethereum ETFs become popular in the next weeks. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock Send To MSN: Send to MSN This article Bitcoin Skyrockets Past $105,000 Mark, Triggers $250 Billion Crypto Market Rally originally appeared on
Yahoo
19-05-2025
- Business
- Yahoo
Robert Kiyosaki Predicts Bitcoin To Reach $250,000: 'Buy More. Do Not Sell.'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Robert Kiyosaki predicts a significant surge in Bitcoin's (CRYPTO: BTC) value, attributing it to a potential collapse of the central bank system. What Happened: In a post on X on Saturday, Kiyosaki, the author of the best-selling book 'Rich Dad Poor Dad,' expressed his belief that gold, silver, and Bitcoin will continue to appreciate in value. He attributed this to what he describes as the impending crash of the 'Marxist Central Bank system.' Kiyosaki further predicted that Bitcoin's value would climb to $250,000 within the year, urging his followers to buy more and hold onto their existing assets. Trending: — no wallets, just price speculation and free paper trading to practice different Kiyosaki's views are not universally shared, they reflect a growing sentiment among some investors that traditional banking systems are becoming increasingly unstable. This belief has led to a surge in interest in alternative assets like cryptocurrencies, which are seen as a hedge against potential economic It Matters: Kiyosaki's prediction comes at a time when cryptocurrencies, particularly Bitcoin, are gaining mainstream acceptance as a legitimate asset class. His views underscore the increasing concern among investors about the stability of traditional banking systems, and the potential for alternative assets like Bitcoin to provide a hedge against economic uncertainty. While Kiyosaki's prediction of a $250,000 Bitcoin is certainly bold, it reflects a broader trend of increasing investor interest in cryptocurrencies. As traditional banking systems face growing scrutiny, cryptocurrencies like Bitcoin are likely to continue attracting attention as potential hedges against economic instability. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock/creativeneko Send To MSN: Send to MSN This article Robert Kiyosaki Predicts Bitcoin To Reach $250,000: 'Buy More. Do Not Sell.' originally appeared on Sign in to access your portfolio
