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Bitcoin news – live: BTC price slide causes heavy losses to crypto market

Anthony Cuthbertson and Vishwam Sankaran
·9 min read
Bitcoin news – live: BTC price slide causes heavy losses to crypto market

The price of bitcoin has seen a steady start to the week, though some crypto analysts have predicted a volatile few weeks ahead.

After a strong start to February, which saw the cryptocurrency recover from six-month lows at the beginning of 2022, BTC has settled in the $41,000 to $45,000 range.

Other leading cryptocurrencies have also been relatively stable, with Ethereum (ETH), Binance Coin (BNB) and Cardano (ADA) all shifting by less than 1 per cent on Monday.

This period of calm could soon be disrupted after reports emerged that BlackRock, the world’s largest asset manager, is planning to offer crypto trading to its clients.

Forbes commentator Billy Bambrough described the potential arrival of BlackRock into the crypto space as a “$10 trillion earthquake”, which could herald a new era of price volatility and record market movements.

You can follow all the latest news, market analysis and expert price predictions right here.

Key points

  • Crypto market set for '$10 trillion earthquake’

Bitcoin price drops below $40,000

16:00 , Anthony Cuthbertson

Bitcoin is back below $40,000 for the first time since early February, following a 10 per cent price drop since yesterday.

(CoinMarketCap)
(CoinMarketCap)

Other leading cryptocurrencies are also suffering significant losses, with Ethereum (ETH), Ripple (XRP), Cardano (ADA) and Solana (SOL) all falling by between 4-6 per cent over the last 24 hours.

The total losses have wiped close to $100 billion from the overall crypto market cap, according to CoinMarketCap.

02:51 , Vishwam Sankaran

Bitcoin, ether, dogecoin prices fall

Bitcoin price has dropped by over 7 per cent in the last 24 hours, and is valued at around $40,500 as Ukraine tensions rise.

The leading cryptocurrency is down by over 5 per cent compared to its price last week, and is down by 15 per cent compared to its year-to-date high of over $47,000 set on 2 January.

Ethereum is also down by over 7 per cent in the last day and is valued at close to $2,900.

Other leading cryptocurrencies, including cardano, solana, and polkadot are also down by over 5 to 7 per cent in the last day with the overall crypto market falling by over 6 per cent during this period.

Memecoins dogecoin and its spinoff shiba inu are also down by over 5 to 7 per cent in the last 24 hours.

Bitcoin price ‘storm’ warning

Wednesday 16 February 2022 18:15 , Anthony Cuthbertson

Storm clouds are approaching, and it could be up to a “resilient cohort of hodlers” to see them off, according to a new report from on-chain analysis firm Glassnode.

“On-chain supply dynamics are remarkably stable, a likely indication that investors are prepared to ride out whatever storm lies ahead,” the report states.

“Overall, this speaks to the continuing maturation of the Bitcoin market, as liquidity deepens, and more comprehensive risk management instruments become available. This differs greatly in comparison to historical Bitcoin market cycles where de-risking was possible only by the sale of coins in spot markets.”

You can read the full story here.

Bitcoin set for extreme price ‘storm’ in March 2022, analysts predict

Crypto autumn, not crypto winter, says exchange boss

Wednesday 16 February 2022 14:11 , Anthony Cuthbertson

When bitcoin’s price fell by half between November and January, several leading market commentators warned that it could be the beginning of a so-called crypto winter.

The latest bounce back means such fears are yet to be realised, with billionaire crypto entrepreneur Sam Bankman-Fried now suggesting it may be a “crypt autumn”.

Speaking to Business Insider, the boss of the FTX exchange said there had definitely been a slowdown but there remained plenty of momentum and excitement in the space.

Bitcoin price ‘looking incredibly bullish'

Wednesday 16 February 2022 10:17 , Anthony Cuthbertson

There are more market signals that the price of bitcoin could be set for a big move, according to prominent analyst PlanB.

The pseudonymous Dutch analyst, who has close to 2 million followers on Twitter, is best known for his Stock-to-Flow model, which puts bitcoin’s price on a path towards six figures at some point this year (originally predicted for late last year).

Looking at bitcoin’s weekly relative strength index (RSI) - a momentum indicator that measures the magnitude of recent price changes to analyse overbought or oversold conditions - PlanB sees bitcoin as “looking incredibly bullish”.

Wednesday 16 February 2022 02:53 , Vishwam Sankaran

Bitcoin, ether prices rise, Avalanche surges

Bitcoin has grown by about 1 per cent in the last day, taking its price above the $44,000 mark.

The leading cryptocurrency has grown by over 1.5 per cent in the last 7 days, but is still down by nearly 35 per cent compared to its record high of $69,000 in November.

Ethereum has also grown by about 4 per cent in the last 24 hours, and is up by over 2 per cent in the last week.

Meanwhile, Avalanche has surged by more than 11 per cent in the last day, taking its value close to $95.

The overall crypto market has grown by about 2 per cent in the last day and is currently valued at $1.98 trillion.

Uber will eventually accept crypto, CEO says

Tuesday 15 February 2022 18:08 , Anthony Cuthbertson

Uber is looking into bitcoin and cryptocurrency with a view to adding it as a payment option within its app, CEO Dara Khosrowshahi has revealed.

“We’re having conversations all the time,” Khosrowshahi told Bloomberg. “As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.”

(AP)
(AP)

Bitcoin price set for big move, analysts predict

Tuesday 15 February 2022 17:26 , Anthony Cuthbertson

Various technical indicators are suggesting that bitcoin could be set for a big move, according to some crypto market analysts.

Crypto investor and author Glen Goodman has spotted a head and shoulders pattern for both bitcoin and Ethereum (ETH), which could be followed by a big jump. He includes “the small matter of Ukraine” as a caveat, which could play havoc on traditional markets and subsequently crypto if war with Russia breaks out.

Meanwhile, popular commentator @xamanap points to a massive drop in bitcoin supply on cryptocurrency exchanges, saying, “last time such a big supply dump happened was October 2020, BTC price pumped 290%.”

Bitcoin price returns above $44k as crypto included in Canadian emergency powers

Tuesday 15 February 2022 11:10 , Anthony Cuthbertson

The Canadian government has announced that it will expand its Anti-Money Laundering surveillance to cover cryptocurrencies.

“These changes cover all forms of transactions including digital assets and cryptocurrencies,” Chrystia Freeland, Deputy Prime Minister of Canada, said at a press conference.

This inadvertent recognition of bitcoin and other cryptocurrencies as money may be what’s behind the latest BTC price surge, according to some market commentators.

Bitcoin price surge leads crypto market rally

Tuesday 15 February 2022 08:39 , Anthony Cuthbertson

Bitcoin is up nearly 4 per cent overnight, sparking a market-wide price surge.

Ethereum (ETH), BNB, Cardano (ADA), Solana (SOL) and Terra (LUNA) are all up by between 5-10 per cent, pushing the overall crypto market cap back towards $2 trillion.

The price rally has added $100 billion to the crypto market since this time yesterday.

(CoinMarketCap)
(CoinMarketCap)

Bitcoin mining chip launched by Intel

Monday 14 February 2022 22:51 , Anthony Cuthbertson

Computing giant Intel has launched a new crypto mining chip that it claims is “1,000 times better” than current processors.

The Blockchain Accelerator Chip is also apparently more energy efficient and “has the potential to enable everyone to own much of the digital content and services they create”. It will be going on sale later this year - you can read all about it right here.

Intel designs crypto mining chip that’s ‘1000 times better’ than current processors

Coinbase share price slips after app crashes

Monday 14 February 2022 21:02 , Anthony Cuthbertson

Coinbase was unprepared for the huge rush of visitors to its app following the airing of a Super Bowl ad, which offered $15 in bitcoin to anyone signing up before 15 February.

The app saw more than 20 million hits in one minute, six-times higher than previous benchmarks, causing the website and app to crash.

“We just saw more traffic than we’ve ever encountered, but our teams pulled together and only had to throttle for a few minutes,” Surojit Chatterjee, Coinbase’s chief product officer, wrote on Twitter.

The outage caused the share price of the largest publicly listed crypto exchange to drop by a few per cent, from which it is still yet to properly recover.

Coinbase’s QR code commercial was described as ‘most annoying’ Super Bowl ad of the night (NBC / Coinbase)
Coinbase’s QR code commercial was described as ‘most annoying’ Super Bowl ad of the night (NBC / Coinbase)

Bitcoin price steady but crypto calm under threat?

Monday 14 February 2022 19:55 , Anthony Cuthbertson

Bitcoin’s quiet start to the week may not last long, according to some crypto market commentators, if reports about BlackRock are to be believed.

The world’s largest asset manager, which handles over $10 trillion in assets for institutions, is planning to enter the cryptocurrency space, according to CoinDesk.

Such a move would cause massive price volatility, with Forbes’ Billy Bambrough describing it as a “$10 trillion earthquake”.

He writes: “One of BlackRock’s funds bought bitcoin futures and just last month the asset manager filed for an exchange-traded fund (ETF) that would hold blockchain and crypto companies. Through 2021 other Wall Street giants have begun exploring bitcoin and cryptocurrencies amid increasing demand from their clients... Bitcoin and cryptocurrency acceptance on Wall Street was bolstered by the launch of the first U.S. bitcoin futures ETF in October last year and corporate adoption of bitcoin and crypto is slowly increasing.”

Hello and welcome...

Monday 14 February 2022 19:49 , Anthony Cuthbertson

to The Independent’s live coverage of the crypto market. We’ll be bringing you all the latest news and updates from bitcoin, Ethereum and other leading cryptocurrencies, as well as analysis from industry insiders and expert price predictions.

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