Bitcoin Faces Consecutive Monday Losses Amid Market Downturn
Bitcoin (
$BTC ) began the week with a 2% decline, marking its fifth consecutive Monday loss. This downturn has impacted major cryptocurrencies, with tokens like Cardano (
$ADA ), Solana (
$SOL ), and XRP experiencing drops of up to 5%. Despite these setbacks, investor sentiment remains cautiously optimistic, with some viewing the dip as a buying opportunity.
Bitcoin Network Hashrate Increases Amid Weaker Mining Economics
The Bitcoin network’s hashrate has risen by 2 exahashes per second (EH/s) in the first half of March, averaging 811 EH/s. U.S.-listed miners have maintained approximately 30% of the network’s hashrate. However, a 10% decrease in Bitcoin’s average price has pressured mining economics during this period.
Strategy Expands Bitcoin Holdings with $10.7 Million Purchase
Strategy, formerly known as MicroStrategy, has acquired an additional 130 BTC for approximately $10.7 million, averaging $82,981 per Bitcoin. This purchase brings the company’s total holdings to 499,226 BTC, acquired at an average price of $66,360 per Bitcoin.
Dormant Whale Transfers 300 BTC to FalconX as Bitcoin Approaches $84K CME Gap
A Bitcoin whale, inactive for 1.5 years, has transferred 300 BTC to crypto brokerage FalconX and 1,050 BTC to two other wallets. This activity coincides with Bitcoin nearing the $84,000 CME gap, suggesting potential market movements.
ECB’s Villeroy Warns U.S. Crypto Support Could Trigger Financial Emergency
Francois Villeroy de Galhau, a member of the European Central Bank’s Governing Council and governor of the Bank of France, has cautioned that the U.S. embrace of cryptocurrency could lead to the next financial emergency. He stated that by encouraging crypto-assets and non-bank finance, the American administration is sowing the seeds of future upheavals.
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