Cryptocurrencies surged Sunday after the White House announced plans for a crypto summit while disclosing the assets that would make up a potential U.S. crypto strategic reserve. Those are bitcoin, ether, XRP, solana and cardano.
It's no understatement to say that bitcoin closed out February on a somewhat sour note. In the last week of the month, the price of bitcoin plummeted about 16%.
Reiterating a bullish stance on Hut 8 with a $30 price target, citing improved fundamentals and diversification beyond Bitcoin mining. Hut 8's strategic shift includes revenue from AI, data centers, and power generation, reducing dependency on Bitcoin's volatile price. Strong 2024 earnings showed significant growth in net income and adjusted EBITDA, despite a decline in quarterly revenue due to Bitcoin halving.
Last week, bitcoin endured a double-digit loss as the largest cryptocurrency flirted with wiping out nearly all of its post-presidential election gains. Laboring around $84,500 at this writing, bitcoin would need to gain 22.37% to reclaim its all-time high, confirming it's in a bear market.
Cryptocurrencies are surging today, with Bitcoin (BTC) up 10% after President Donald Trump announced a strategic U.S. crypto reserve.
Extreme sentiment suggests a potential market bottom, President Trump announces a crypto strategic reserve, and Tesla is renewed as a "Top Pick" at Morgan Stanley.
The Securities and Exchange Commission (SEC) said Thursday (Feb. 27) that it dismissed its pending civil enforcement action against cryptocurrency exchange Coinbase.
Bitcoin (BTC) began the year on a high note, nearly reaching the $110,000 mark.
Robinhood said a regulatory probe of its cryptocurrency unit ended without incident. The Securities and Exchange Commission (SEC) last year issued a Wells notice against the financial services platform, typically seen as a warning of pending enforcement action.
Investors are cheering the latest sign of a less restrictive regulatory environment.
CNBC's MacKenzie Sigalos joins 'Closing Bell' to report on the sell-off in the crypto market and fintech stocks.
Stocks like V, HOOD and IBKR are poised to benefit from the next Bitcoin rally.