Bitcoin Price Prediction During the Asian session, Bitcoin (BTC/USD) trades at $57,520, reflecting a 1.25% decrease. This movement is positioned below the pivotal $59,328 mark and suggests a cautious, bearish outlook for the cryptocurrency. This price prediction hinges on key resistance and support levels that could dictate Bitcoin price prediction....

The spot Bitcoin exchange-traded funds (ETFs) in the United States have witnessed record net outflows, with BlackRock’s iShares Bitcoin Trust (IBIT) experiencing its first-ever day of outflows.  On May 1, BlackRock’s Bitcoin fund saw $36.9 million flow out, according to data from Farside Investors.  In addition, nine other Bitcoin ETFs collectively...

Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for crypto exchanges last year. This required all exchanges operating...

Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), has reported a record net profit of $4.52 billion in the first quarter of 2024, marking a significant achievement for the company. According to the report, the substantial profit was primarily attributed to the firm’s financial gains on Bitcoin and gold, totalling $3.52 billion,...

Federal prosecutors have launched an investigation into Block, the financial technology company co-founded by Twitter’s Jack Dorsey. The investigation focuses on alleged compliance lapses at its central units, Square and Cash App.  Sources with direct knowledge of the matter revealed that discussions with a former employee have undisclosed documents...

Two bipartisan U.S. lawmakers, Representatives Drew Ferguson and Wiley Nickel, have proposed the Providing Tax Clarity for Digital Assets Act to address taxation issues related to block rewards earned by crypto miners.  The bill aims to clarify the tax treatment of staking rewards, proposing that they should only be taxed at the time of their sale...