Bitcoin News Thebittimes.Com

Source: Adobe/Christophe Fouquin   The crypto market saw losses across the board on Wednesday as bitcoin (BTC) once again dipped below the USD 20,000 mark, and some analysts pointed to a risk of further downside. On Wednesday at 10:30 UTC, BTC stood at USD 20,123, down by 4% for the past 24 hours and by 3% for the past week. At the same time, ethereum (ETH) traded at USD 1,133, down by 7% for the day and up by nearly 1% for the week. Other popular altcoins, including Binance ’s BNB, FTX ’s FTT, and Avalanche ’s AVAX token all saw 24-hour losses of between 7% and 8%. Notably, the market sell-off on Wednesday came as news emerged that a court in the British Virgin Islands has ordered the liquidation of the crypto hedge fund Three Arrows Capital , which has for some time been rumored to be insolvent. Sky News said it has learned that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the fund. It was un...

Source: Adobe/chromatika   The crypto market fell on Tuesday ahead of a US inflation report for June that is feared to show that consumer prices have continued to rise at a faster pace despite interest rate hikes. Meanwhile, more on-chain signs are now indicating that a bottom for bitcoin (BTC) could be about to form. As of Tuesday at 11:20 UTC, bitcoin stood at USD 19,672, down 4% for the day and 3% for the week, after falling below the key USD 20,000 level in early European trading. At the same time, ethereum (ETH) traded at USD 1,065, down 7% for the day and 8% for the week. BTCUSD Chart by TradingView   The moves happened ahead of the release of June inflation figures in the US on Wednesday, with expectations being that inflation will have increased even further from 8.6% annually in May. Fears that inflation will come in higher increased on Monday, when White House spokesperson Karine Jean-Pierre said she expects inflation to be “highly e...