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Yahoo
a day 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
a day 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
3 days ago
- Business
- Yahoo
Ross Ulbricht, The Silk Road Founder Pardoned By Trump Soon After His Inauguration, Receives A Whopping $31 Million Worth Of Bitcoin In Donation Wallet
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A wallet linked to Ross Ulbricht, the creator of illegal drug marketplace Silk Road, received over $30 million in Bitcoin (CRYPTO: BTC) on Saturday, sparking intrigue among the cryptocurrency community. What Happened: According to on-chain tracker Lookonchain, Ulbricht's donation wallet received a transfer of 300 BTC, approximately $31.47 million. Hours later, the stash was transferred to another wallet, details about which remained unknown as of this writing. A message sent to the Instagram accounts of Ulbricht and his wife by Benzinga did not receive an immediate response. Trending: — no wallets, just price speculation and free paper trading to practice different after, theories and conjectures arose, with observers making various claims. A cryptocurrency commentator called CR1337 said, 'You want to tell me that a single entity donated 300 BTC, more than $30M, to Ross Ulbricht, and that this is not just one of his old wallets and he sent it to himself?'Another user, Execute, meanwhile, invoked the ideas of 'freedom, privacy, and justice' while discussing the massive transfer. Meanwhile, Ulbricht has managed to raise nearly $1.3 million in pledged BTC by auctioning off personal items from before and during his imprisonment through the Bitcoin auction platform Scarce City. The items included his prison ID card, prison notebok and artworks he created while imprisoned. Why It Matters: Ulbricht was pardoned by President Donald Trump earlier this year as part of a campaign promise. Ulbricht was serving a double life sentence since 2013 for creating the darknet website Silk Road—a hub of the illegal trafficking of heroin, cocaine, LSD, and other substances, all paid for in Bitcoin. Shortly after the pardon, wallets belonging to Ulbricht were discovered, containing as many as 430 BTC unmoved for over 13 years. 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: Paopano on Send To MSN: Send to MSN This article Ross Ulbricht, The Silk Road Founder Pardoned By Trump Soon After His Inauguration, Receives A Whopping $31 Million Worth Of Bitcoin In Donation Wallet 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
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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
30-05-2025
- Business
- Yahoo
Eric Trump Reveals Advice From Michael Saylor: Mortgage Mar-A-Lago And Take $2 Billion To Invest In Bitcoin
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Eric Trump, the executive vice president of The Trump Organization, was all praise for Strategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor on Wednesday, stating that Bitcoin (CRYPTO: BTC) is "fortunate" to have him. What Happened: Speaking at the Bitcoin 2025 conference in Las Vegas, Trump recalled how Saylor attempted to persuade him to invest in the apex cryptocurrency. "You need to mortgage Mar-a-Lago right now. You need to take $2 billion out of Mar-a-Lago and need to go long Bitcoin," Trump quoted Saylor as saying. Trending: — no wallets, just price speculation and free paper trading to practice different Trump mentioned how Saylor advises everyone to follow his Bitcoin playbook and how it's an 'incredible opportunity' to capitalize on. "I've never seen that in any other industry where you have the titan of the industry that's literally advocating for smart people to compete against them," he said about Saylor. Meanwhile, when asked for a prediction, Trump said Bitcoin would clear $170,000 in a It Matters: These remarks come a day after Trump Media & Technology Group (NASDAQ:DJT) announced it will use the proceeds of a $2.5 billion private offering to create a Bitcoin reserve, a playbook popularized by Saylor's firm Strategy. Donald Trump Jr., Eric's elder brother, said at the same conference earlier that they were "seriously long" on Bitcoin and committed to the leading cryptocurrency. The Trump family's investments in cryptocurrencies were steadily growing. They previously made strategic bets on Bitcoin mining along with ties to the decentralized finance platform World Liberty Financial. 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: Maxim Elramsisy On Send To MSN: Send to MSN This article Eric Trump Reveals Advice From Michael Saylor: Mortgage Mar-A-Lago And Take $2 Billion To Invest In Bitcoin 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
