Bitcoin Heads for Fifth Weekly Loss Amid Oil Rebound and Midterm Jitters

·1 views

Bitcoin is on track for a fifth consecutive weekly decline, which would tie its third-longest losing streak. Investor caution has been fueled by a rebound in oil prices and a margin warning from Apple. Market sentiment is also being weighed down by uncertainty ahead of the U.S. midterm elections. The report is a live news update from CoinDesk.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bitcoin Steadies After Dip to $76,300 Amid ETF Outflows and Midterm Election Jitters

Bitcoin rose 0.2% to roughly $76,900 following a dip to $76,300, according to the report. Spot bitcoin ETFs recorded net outflows of $399 million for a second consecutive day. Binance customers also withdrew a net $4.72 billion over the same period. Analysts cited the upcoming midterm elections as an additional factor weighing on crypto markets. The article presents these developments as the backdrop to the token's recent price movement.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Liquid's bitcoin IOUs fully backed again after $320 million exploit

Liquid's bitcoin-pegged tokens are once again fully backed following a roughly $320 million exploit. A final transfer of 250 BTC closed the shortfall left by a bug that surfaced in September. The federation that operates the network has not disclosed who supplied the funds used to refill the gap. The episode restores the one-to-one backing that holders of the tokens rely on. Questions about the source of the replenishment remain unanswered.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Tether Says It Holds 150,000 Bitcoin Worth $11.5 Billion

Tether CEO Paolo Ardoino has stated that the stablecoin issuer holds 150,000 bitcoin, valued at roughly $11.5 billion. He did not disclose where these coins are stored. The bitcoin holdings may fall outside the company's USDT reserves, meaning they would not show up in its published reserve reports. The disclosure gives a clearer picture of Tether's asset base beyond the reserves backing its stablecoin. The source article provides no further detail on the timing or purpose of the announcement.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

North Korea Denies Link to $6.4B Binance Hack Pinned on TraderTraitor by FBI

North Korea has rejected any involvement in a $6.4 billion cryptocurrency theft attributed to Binance. The denial comes after the FBI issued alerts linking the attack to TraderTraitor, a hacking group the agency associates with Pyongyang. Investigators pointed to wallet addresses believed to be controlled by North Korean actors. The incident is described as the largest cryptocurrency exploit on record. The dispute highlights ongoing attribution challenges in state-linked crypto crimes.

0 comments Read more at CoinDesk