US Federal Reserve Chair Jerome Powell also dismissed the idea that people see Bitcoin as a symbol of a lack of faith in the US dollar.

Bitcoin, trading at $98,772, is riding a bullish wave, but traders should stay sharp as critical resistance looms near $100,000. The market's behavior hints at a mix of sideways moves and the potential for exciting breakouts. Bitcoin On the 1-hour chart, bitcoin recently climbed to a local peak of $99,250 before pulling back.

Ethiopia is emerging as a significant player in Bitcoin mining, with local operations now accounting for 2.5% of the global hash rate. On Dec. 4, local Bitcoin miner Kal Kassa stated: “Bitcoin miners in Ethiopia now command 2.5% of the global hash-rate.

The Bitcoin price has recently attempted to reclaim the $96,400 level as support after breaking above the bearish trend line. A crypto analyst has underscored why this support level is crucial for Bitcoin's next price rally, as it could set the stage for a potential retest above the $100,000 All-Time High (ATH).

Bitcoin has rebounded to $98,000 today after dropping to its weekly lowest point, and several sentiments have made it back to head the $100,000 target price.

Federal Reserve Chair Jerome Powell said the U.S. economy remains strong and even commented on Bitcoin (CRYPTO: BTC) at the New York Times DealBook Summit on Wednesday. The Details: "The U.S. economy is in very good shape right now.

Hive Digital Technologies (Nasdaq: HIVE), a prominent Canadian-based Bitcoin mining firm, is significantly expanding its mining capacity with a $60 million investment in new equipment. The firm has secured 13,480 miners from Bitmain, a leading Chinese manufacturer, with plans to scale its operations further in the coming year.

The recent rally in older tokens better resembles the price action of meme coins, benefiting from a broader market breakout, Decrypt was told.

An obstacle has been encountered in Bitcoin's ascent to the elusive $100,000 milestone, prompting traders and investors to wonder what is preventing the top cryptocurrency from reaching its full potential. Although Bitcoin has recently experienced bullish momentum that brought it near $100,000, the psychological barrier has not been broken.

A Bitcoin whale that had been inactive for 11 years has resurfaced with a transaction of around $257 million in BTC after seeing the price of their holdings surge by over 15,300% since their last action.

Bitcoin miner Hut 8 has unveiled a $500 million equity offering to bolster its operations and create a Bitcoin (BTC) strategic reserve. The company will sell shares of its common stock over time to fund its growth initiatives.

Bitcoin has recently become known as an investment instrument that is called “digital gold” to preserve the value of money; Powell says the same.

The interest in altcoins is growing at an incredible pace, backed by the increased Google search trends and high market turnover. While Bitcoin remains relatively flat above the $97K level, the altcoin market is now back in focus among retail traders and analysts, raising expectations of an altseason.

On-chain data shows that Bitcoin investors' profit-taking has observed a huge decline since last month's top, a sign that could be positive for BTC.

MicroStrategy Executive Chairman Michael Saylor explains his approach to buying Bitcoin and predicts the asset's huge future price on 'Making Money.'

Bitcoin consolidates just below $100,000, signaling a pause after its recent rally.

Bitcoin rallied after Fed Chair Jerome Powell called it "digital gold" on Wednesday, though it again fell short of the $100K milestone.

The United States government recently transferred 19,800 Bitcoin (BTC) worth approximately $1.92 billion to a Coinbase Prime wallet. This sparked fears of a potential sale around crypto circles, with traders on high alert.

The Federal Reserve Chairman Jerome Powell dismissed the notion of Bitcoin as a replacement for the U.S. dollar, instead framing the leading crypto as a speculative asset comparable to gold.

Bitcoin surged past $99,000 on Wednesday, driven by Federal Reserve Chair Jerome Powell's remarks comparing the cryptocurrency to gold.

Roger Ver, also known as the “Bitcoin Jesus,” is currently fighting an eight-count indictment by the U.S. Attorney for the Central District of California. According to the charges, Ver had failed to file taxes for $50 million of $240 million worth of Bitcoin transactions in 2017.

Bitcoin came within hundreds of dollars of the vaunted $100,000 milestone on Wednesday, with ETH, DOGE, and other assets rising alongside.

Bitcoin (BTC), the world's largest digital asset by market capitalization is witnessing a shift in sentiment toward the bullish side. On December 4, 2024, blockchain intelligence firm Arkham made a post on X (formerly Twitter) that BlackRock, the world's largest asset manager had purchased a significant amount of Bitcoin.

Could This Be the Day Bitcoin Cracks $100,000?

Vladimir Putin has solidified Russias stance on Bitcoin, announcing at the Moscow Investment Forum that the nation will push forward with groundbreaking crypto policies. With reforms shielding digital assets from heavy taxation, Russia aims to outpace U.S. crypto strategies.

The biggest cryptocurrency in the world, Bitcoin is losing its hold on market supremacy, therefore changing the crypto scene. Analysts believe cryptocurrencies may soon take the spotlight as their market share drops to 55.80% and a confirmed sell signal flashes for the first time since 2020.

Bitcoin mining could be a win-win solution to countries like the United Kingdom that are having problems with their excess output from renewable energy. The executive of a US-based digital asset technology firm suggested that Bitcoin mining could be the best way to eliminate wastage and grid congestion on renewable energy.

Cryptocurrency markets are trading higher on Wednesday, bolstered by Federal Reserve Chair Jerome Powell calling it “digital gold.” Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $97,718 +1.6% Ethereum (CRYPTO: ETH) $3,838 +6.0% Solana (CRYPTO: SOL) $230.86 -3.2% Dogecoin (CRYPTO: DOGE) $0.4222 +2.2% Shiba Inu (CRYPTO: SHIB) $0.00003057 +6.2% Notable Statistics: IntoTheBlock data shows large transaction volume decreasing by 10% and daily active addresses down by 0.3%.

MicroStrategy sets a historic record in Bitcoin purchases during November, acquiring 149,880 BTC for $13.5 billion, while its stock value soars over 500% this year, reflecting the success of its cryptocurrency reserve strategy.

Federal Reserve Chair Jerome Powell has declared Bitcoin a rival to gold, not the US Dollar, sparking fresh debates on its role as an inflation hedge. With institutional adoption surging and spot ETFs approved, Bitcoin is redefining its position in global markets.

Spot BTC prices were at times $300 pricier on Coinbase relative to Binance, suggesting the rally may be driven by heavy demand from American investors.

Powell said bitcoin is digital gold.

Bitcoin (BTC) reached a new intraday high of $99,240 per coin today, marking a significant milestone in the cryptocurrency market. Paul Atkins' SEC Nomination Sends Bitcoin Soaring The bitcoin surge followed President-elect Donald Trump's announcement of Paul Atkins, a known cryptocurrency advocate, as the next chair of the Securities and Exchange Commission (SEC).

Bitcoin miner Hut 8 confirmed a $500 million raise to purchase BTC and up to $250 million share repurchase.

The Bitcoin price has continued on its consolidation path below the $99,000 price level, but investors remained determined to break above six digits. An analysis on the TradingView platform relays this bullish sentiment, with crypto analyst Waslad advising investors to hold onto their BTC.

Federal Reserve Chair Jerome Powell addressed the perception of Bitcoin (CRYPTO: BTC) at the DealBook Summit on Wednesday, asserting that the cryptocurrency is more akin to gold than the U.S. dollar. “People use Bitcoin as a speculative asset.

U.S. Federal Reserve Chair Jerome Powell drew comparisons to bitcoin and gold as the cryptocurrency's value closes in toward $100,000.

Russian President Vladimir Putin stated publicly on Wednesday that Bitcoin is unstoppable, marking his clearest acknowledgment of cryptocurrency's growing significance as Russia faces ongoing sanctions.

New York City Mayor Eric Adams slammed the criticism he faced after deciding to receive his first three paychecks in Bitcoin (BTC) and Ethereum (ETH) back in early 2022. He made the statement during a Dec. 3 press conference, saying: “Remember y'all laughed at me when I first got my Bitcoin.

With just a month left in 2024, the year is winding down with a thrilling milestone: bitcoin has hit an all-time high of $98,800 per coin. This moment caps a year of growth, innovation, and intense focus in the crypto world.

Fed Chair Jerome Powell said bitcoin is competing against gold, not the U.S. dollar, in an appearance on Wednesday.

Fed Chair Powell views Bitcoin as a competitor to gold, not the US dollar, highlighting its volatility and speculative nature. The post Fed Chair Powell calls Bitcoin a competitor to gold, not the US dollar appeared first on Crypto Briefing.

Bitcoin ETFs saw $1 billion in inflows in the first days of December, signaling growing demand from the institutional sector.

Bitcoin has taken a notable step in its often contentious software upgrade process.

During a recent conversation with CNBC's Andrew Ross Sorkin, Federal Reserve Chair Jerome Powell drew parallels between Bitcoin and gold.

With 2.38% of BTC's total supply, IBIT becomes a significant participant in the crypto industry. The asset manager accomplished this milestone in less than a year following the IBIT debut in January.

Bitcoin Cash (BCH) pioneer and early crypto adopter Roger Ver is asking courts to dismiss an indictment that charges him with evading $50 million in taxes.

Federal Reserve Chairman Jerome Powell has broken silence on the broad comparison between Bitcoin, Gold and the US Dollar. Speaking at the Dealbook Summit, he revealed that Bitcoin is a speculative asset that has a closer correlation to Gold rather than the US Dollar.