As Bitcoin reaches new highs this year, the FBI has observed a sharp increase in cryptocurrency-related scams, including fraudulent investment schemes and employment scams. Special Agent David Paniwozik of the FBI’s Baltimore branch noted the growing trend, saying: “Criminals see cryptocurrencies as a quick and easy way to make money. Unfortunately, many investors are still unfamiliar with the technology, making them prime targets.” One of the key challenges, Paniwozik said, is the seamless and borderless nature of cryptocurrency transactions. “Whether it’s $1 or billions of dollars, money can be instantly transferred from a U.S.-controlled wallet to an offshore wallet,” he explained. Scammers often set up fake cryptocurrency exchanges, convincing victims that their investments are growing rapidly or demanding crypto payments to “unlock” lucrative job offers. The FBI warns that these scams are becoming increasingly sophisticated and difficult to detect, capitalizing on the public's excitement about cryptocurrencies and their potential for high returns. Related News: Watch Out: Very Important Week Ahead - Major Economic Developments and Altcoin Events Coming Up! Here is the Day by Day, Hour by Hour List In addition to investment scams, the FBI is seeing an increase in employment scams involving cryptocurrency. Significant losses have been reported in Maryland alone, with reported losses rising from $32,033 in 2023 to a staggering $3.8 million between January and October 2024. The average person in Maryland loses between $15,000 and $20,000 in these types of scams, Paniwozik said. According to the FBI’s 2023 Cryptocurrency Fraud Report, cryptocurrency-related complaints account for just 10% of all financial fraud reports, but nearly 50% of total monetary losses. The FBI advises potential investors and job seekers to be careful when dealing with cryptocurrency-related opportunities. Key tips include verifying the legitimacy of exchanges, being skeptical of promises of guaranteed high returns, and avoiding cryptocurrency payments for job offers. *This is not investment advice. Continue Reading: Cryptocurrency Warning from FBI Senior Official as Bitcoin Nears to New Record
According to COINOTAG, recent data from Matrixport reveals that during the anticipated 2024 Bitcoin bull market, Ethereum has notably lagged behind its counterpart. Bitcoin’s dominance surged from 50% to 61%,
Whales have made significant purchases of ADA and DOGE recently. Strong support levels for Bitcoin are established between 94,300 and 100,250 dollars. Continue Reading: Whales Accumulate Large Amounts of ADA and DOGE in Crypto Market The post Whales Accumulate Large Amounts of ADA and DOGE in Crypto Market appeared first on COINTURK NEWS .
This week, key US economic events like the Fed’s rate decision and inflation data are poised to significantly impact Bitcoin and overall crypto sentiment. The potential for a 0.25% Fed
Satoshi Nakamoto is climbing up the billionaire list as Bitcoin keeps hitting new record highs
According to recent data from Coinglass, as reported by COINOTAG, significant pressure is mounting on the Bitcoin market. If Bitcoin surpasses the pivotal threshold of $107,000, mainstream cryptocurrency exchanges (CEX)
It took bitcoin just over ten days to reestablish its presence in the market by skyrocketing to a new all-time high, this time of well over $106,000. It went up, down, and up again in the past 12 hours or so, leaving over $300 million in liquidations, but one particular order stands out as the largest. Data from CoinGlass shows that the primary cryptocurrency’s rally has wrecked nearly 100,000 traders in the past 24 hours. However, the biggest single liquidated position took place on Binance and involved the BTC/USDT trading pair. The total value was a whopping $19.86 million, which the whale lost during the volatile ride. Although it sounds as if it was likely from a short position, BTC also retraced by about two grand immediately after the latest peak, which could cast some doubt on whether it could have been a trader expecting further gains. After all, just over 51% of the liquidations on Binance were for shorts. Nevertheless, these developments only go to show that traders should be wary when opening over-leveraged positions in the current volatile environment. Liquidation Heat Map. Source: CoinGlass Aside from BTC, which has extended its dominance over the market, many larger-cap alts have posted some gains as well over the past 24 hours. These include ETH, SOL, DOGE, ADA, AVAX, and TON are up by around 2-3% each. SUI have jumped the most from the larger caps, having gained 9% and trading close to $4.8. The post Bitcoin’s Rally to New All-Time High Above $106K Liquidates This Massive Whale appeared first on CryptoPotato .
Bitcoin has made a new all-time high at $106,488. With a 14% increase, BTC can break above the market cap of Google. Strike CEO Jack Mallers said that Trump might issue an executive order to buy BTC. Bitcoin (BTC) has reached a historic milestone, climbing to a new all-time high of $106,488, giving it a market cap of $2.11 trillion, according to CoinMarketCap . Currently trading at $104,745 with a market cap of $2.07 trillion, Bitcoin now stands on the verge of surpassing Google’s market cap of $2.3 trillion. With just a 14% increase in price, Bitcoin could become the 6th largest asset globally by market volume, solidifying its place as one of the most valuable financial instruments in the world. For context, Google—the tech giant with dominance across market sectors—has a market cap of $2.3 trillion, as reported by Yahoo Finance . If Bitcoin surpasses this benchmark, it would represent a historic milestone, solidifying its place among the world’s most valuable assets. BTC Price Momentum and Potential to Surpass Google Bitcoin has gained 5.72% over the last week and 14.76% in the past month. Analysts speculate that an additional 14% increase in B… The post BTC Needs 14% Boost to Overtake Google as 6th Largest Asset appeared first on Coin Edition .
The post Crypto Market Today (Dec 16, 2024): Bitcoin Hits New ATH Above $106k | Market Goes “Extreme Greed” appeared first on Coinpedia Fintech News The crypto market today has commenced its trade on a bullish note, with Bitcoin price hitting a new ATH above $106k. This feat has led to the industry’s market cap shooting up 1.72% to $3.7 trillion. The fueling optimism has resulted in the trading volumes jumping 24.55% with the numbers at $159.63 billion. The positive market sentiments are evident with the Fear & Greed meter hitting an extreme greed score of 80. Bitcoin Breaks All Previous Records, Creates New ATH Bitcoin continues to single-handedly lead the market’s greenish numbers. After claiming a new all-time high of $106,488.25 a couple of hours ago, BTC is currently changing hands at $104,980.21. This came with the intraday trading volumes surging 61.86% to $62.53 billion. BTC’s new benchmark has instilled hopes of it claiming $110k by the year-end. Curious about where the Bitcoin price is heading next? Read our Bitcoin (BTC) Price Prediction for potential price targets! Altcoins Today: ETH, SOL Spike Up, While XRP Slips The top altcoins today have posted mixed sentiments on their charts. While Ethereum’s price rose by 2.03% to $3,968.67, Solana saw a rather bland gain of 1.29% with its price at $222.59. XRP on the other hand, slipped by 1.08% to $2.41. However, the market did witness some action with gainers and losers from the top 100. For a deeper dive into Ethereum’s potential, check out our latest Ethereum Price Prediction . Top Gainers & Losers: Among the top 100 cryptos, Ondo led the pack, surging 14.57% to $2.10. It was followed closely by Fantom (FTM), which gained 14.32%, and VIRTUAL, which climbed 13.65%. On the losing side, KuCoin Token (KCS) fell by 7.95%, Kaia slipped by 6.84%, and Curve DAO Token (CRV) sunk by 5.47%. Interested in staying ahead of the market curve? Subscribe to us, for timely updates on the latest crypto news and crypto prices. FAQs How much is the global cryptocurrency market cap today? The total global cryptocurrency market cap stands at $3.7 trillion, up 1.72% in the last 24 hours. Which cryptocurrencies gained the most today? Ondo (+14.57%), Fantom (+14.32%), and VIRTUAL (+13.65%) were the top gainers. What is the current Fear & Greed Index score? The Fear & Greed Index currently stands at 80, signaling “Extreme Greed.”
Bitcoin (BTC) set a fresh record above $106,000 earlier Monday, with traders now targeting the $120,000 level as the asset moves into the second half of a seasonally bullish December. Recent catalysts that have supported growth in BTC include increased speculation of U.S. president-elect Donald Trump creating a federal bitcoin reserve, and crypto companies such as Riot Platforms and MicroStrategy purchasing billions worth of the asset in past weeks. Optimism in U.S. policies are driving bitcoin ETFs inflows higher, contributing to increased prices, some point out. “TradFi inflows now dominate all sentiment and price action in BTC unlike any other prior crypto cycle before,” shared Augustine Fan, head of insights at SOFA, in a Telegram message to CoinDesk. “This influence will only grow as more and more traditional firms finally need to have a digital asset policy given the immense revenue opportunities and sea-change in the political environment.” Recent price action has shown bitcoin forming higher lows, indicative of a sustained uptrend. The formation of a bull flag or a bullish continuation pattern after recent highs could signal further upward movement. This month tends to be historically bullish for bitcoin in a move that’s colloquially termed the "Santa Claus Rally." Data from the past eight years shows that bitcoin ended December in the green six times since 2015, running at least 8% to as much as 46% (in the outlier year of 2020). Seasonality is the tendency of assets to experience regular and predictable changes that recur every calendar year. While it may look random, possible reasons range from profit-taking around tax season in April and May, which causes drawdowns, to the generally bullish November and December, a sign of increased demand ahead of holiday season. Meanwhile, some traders are now targeting the $120,000 level and above for BTC in the coming year. “We think bitcoin still has tremendous upside potential and could easily hit the $125k mark by the end of 2025,” Jeff Mei, COO at crypto exchange BTSE, said over Telegram. “While some say the upside has already been priced in over the last month or so, we think the rally is just getting started.” “This is because it takes time for institutions, family offices, and high-net-worth individuals to warm up to the idea of allocating 1%-3% of their portfolios to bitcoin and crypto as a whole. Once that happens, crypto inflows could skyrocket. And given Trump's pro-crypto appointments, continued rate cuts, and stimulus spending from China, there are a lot of reasons to be bullish,” Mei added.