Altcoins News
By Pankaj K
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Bitcoin Price Takes a Beating. Bitcoin's price action has been wild lately. The cryptocurrency dropped hard from $30,000 down to…
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Mining Gets Messier. Things got even weirder on March 31. The Bitcoin Mining Council said global mining energy use…
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What Comes Next. Fidelity Digital Assets said client calls have been going crazy.
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Bitcoin ETFs got hammered this week with $290 million in outflows as investors basically ran for the exits.
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Investors are pretty much in full panic mode right now. Economic data keeps coming in wonky, and nobody really knows what the Fed's going to do next with rates.
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Bitcoin's price action has been wild lately. The cryptocurrency dropped hard from $30,000 down to $27,000, and those ETF outflows aren't helping things at all.
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Grayscale took a major hit on March 28 when their Bitcoin Trust saw massive redemptions. The firm didn't sugarcoat it - they admitted the outflows were way bigger than expected.
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BlackRock's been watching all this chaos unfold but hasn't blinked yet. They're not changing their crypto strategy, which probably means they think this is temporary.
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The CME reported some crazy stuff on March 29 too. Bitcoin futures trading went through the roof as people scrambled to hedge their positions.
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Things got even weirder on March 31. The Bitcoin Mining Council said global mining energy use jumped 3% this quarter, right when prices are tanking.
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ARK Invest's Cathie Wood is still buying though. Her fund added another $5 million in Bitcoin stuff on March 29, basically betting against the crowd.
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Galaxy Digital went the opposite way. Mike Novogratz's firm hit the pause button on March 30, saying they need to see where things settle before throwing more money around.
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The European Central Bank jumped into the conversation on March 29 with their usual warnings about crypto volatility.
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Fidelity Digital Assets said client calls have been going crazy. People want to know if they should bail or hold tight.
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JP Morgan's analysts think the outflows could mess with crypto exchanges too. If enough people pull money out, exchanges might face liquidity problems.
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