Bitcoin News Thebittimes.Com

Bitcoin (BTC), the largest cryptocurrency by market cap, is outperforming major tech stocks such as Amazon and Meta. The development adds weight to BTC’s decoupling from tech stocks . While major tech companies reported a lackluster Q3 earnings report, Bitcoin continued to show strength. Amazon shares dropped by 20% during out-of-hours trading. At over $230 billion, Amazon recorded the largest post-close loss in history. Regarding the firm’s Q3 report, Amazon CEO Andy Jassy stated, “There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets.” Meta stock, on the other hand, fell by up to 24%, reaching 2015-levels of below $100. Almost the entire tech sector has suffered losses this year, but Meta’s stock decline has surpassed the sector as a whole. Meta shares are down 67% from a year ago, compared ...

A recent Wall Street Journal article brought to light that venture capital firm A16z’s flagship crypto fund shaved around 40% of its market value in the first half of 2022. Per the report, “ That decline is much larger than the 10% to 20% drops recorded by other venture funds , which have largely avoided the risky practice of purchasing volatile cryptocurrencies, according to fund investors .” Here it is worth recalling that back in May, the firm launched its largest crypto fund at $4.5 billion. The establishment of the said fund brought A16z’s total crypto and Web3 HODLings up to $7.6 billion.  WSJ: A16z ’s flagship crypto fund lost 40% market value in the first half of this year, losing $2.9billion in its remaining stake in Coinbase alone. Only 9 deals to crypto startups were announced in the third quarter of this year. https://t.co/wYMtc8o3lZ — Wu Blockchain (@WuBlockchain) October 26, 2022 The long-term horizon The largest...

Bitcoin Breaches Initial Resistance as It Recovers Above $20.5k – October 17, 2022 Bitcoin is in the downtrend zone as it recovers above $20.5K. Buyers have the intention of keeping the price above the 50-day line SMA. In the bullish trend zone, prices tend to rise to the previous highs. Today, the BTC price is trading at $19,600.32 at the time of writing. Bitcoin Price Statistics Data: •Bitcoin price now – $19,600.32 .Bitcoin market cap – $375,981,501,952 •Bitcoin circulating supply – 19,182,412.00 BTC •Bitcoin total supply – $411,606,816,754 •Bitcoin Coinmarketcap ranking – # 1 Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000   Since October 17, BTC’s price has been making positive moves as it breaks above the 21-day line . Incidentally, these bullish moves have been ongoing since September 12. On September 12, buyers kept the price above the moving average lines but could...