The crypto market is experiencing a surge as Bitcoin miners ramp up their acquisitions, signaling strong bullish sentiment amidst price rallies. Marathon Digital Holdings (MARA), a leading Bitcoin mining company,
One of the largest publicly traded Bitcoin mining companies, Marathon Digital Holdings, has acquired 15,574 BTC at an…
It’s beginning to look like a race as miners scramble to buy Bitcoin before the price keeps rallying.
Recent on-chain metrics reveal a significant outflow of $150.03 million in Dogecoin (DOGE), signaling heightened interest from investors. Despite a price decline of over 13.5%, long-term investors and whales are
President Donald Trump has called on Congress to abolish the U.S. debt ceiling entirely, describing it as a meaningless psychological tool that serves no practical purpose. In a recent interview , Trump made it clear he’s ready to “lead the charge” if lawmakers agree to eliminate the borrowing limit, which currently caps how much money the federal government can borrow to pay its bills. “The Democrats want to get rid of it. If they want to get rid of it, I would lead the charge,” Trump reportedly said. He dismissed the debt ceiling as an outdated concept, suggesting that even experts aren’t sure whether breaching it would result in catastrophe or prove inconsequential. “It doesn’t mean anything, except psychologically,” he said. The comments come amid rising tensions over a potential government shutdown, which could occur Saturday at midnight if lawmakers fail to pass a funding deal. Trump criticized the current negotiations, calling a bipartisan agreement to avoid a shutdown a “Democrat trap” and taking aim at House Speaker Mike Johnson for what he described as an unacceptable resolution. $36 trillion in national debt and counting The United States is facing an unprecedented national debt crisis, with total federal debt now exceeding $36 trillion as of December 2024. Publicly held debt makes up $29 trillion of that figure, or 99% of the nation’s gross domestic product (GDP). Projections show the debt-to-GDP ratio could pass 100% in 2025 and may hit 172% by 2054 if nothing changes. This year alone, interest payments on the debt have skyrocketed by 34%, reaching $882 billion—more than the federal government spends on defense, Medicaid, or children’s programs. Meanwhile, the annual federal deficit is stuck at $1.9 trillion, mirroring last year’s figure. Government spending continues to outpace revenue, thanks to a combination of tax cuts and high borrowing costs. With the federal funds rate at its highest level in decades, the cost of financing the debt has surged, raising alarm bells among economists about long-term sustainability. Trump’s stance on the debt ceiling comes against this backdrop of growing fiscal uncertainty. While Congress suspended the debt limit through January 2025 in a deal reached last year, the president argued the measure only delays inevitable fights over borrowing authority. He revealed he had discussed his concerns with Elon Musk before the billionaire took to X (formerly Twitter) to share similar views on government spending. “I told him if he agrees with me, he could put out a statement,” Trump said. He described Musk’s perspective as aligned with his own, particularly on cost concerns. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
The adverse price developments that started after the controversial statements by the Chair of the US Federal Reserve continue today as well, with BTC dumping to under $98,000. The altcoins have been hit even more severely, with massive double-digit losses from the likes of ETH, DOGE, ADA, AVAX, LINK, and many others. Cryptocurrency Market Overview. Source: QuantifyCrypto CryptoPotato reported yesterday’s price movements, which came just minutes after the latest FOMC meeting, in which Powell said the Fed couldn’t purchase bitcoin, and he warned that the rate cuts for 2025 might be halted. BTC slumped from over $105,000 to just under $98,000, and the altcoins followed suit. The primary cryptocurrency managed to recover some ground today and even spiked to nearly $103,000 hours ago. However, the asset is in another freefall state as its price plunged by several grand once again minutes ago, dumping to a weekly low of $97,500 (on Bitstamp) for now. As the graph above demonstrates, the entire cryptocurrency market is deep in red. XRP continues to bleed out as it dipped beneath $2.2 earlier and is now down by over 10%. Similar or even more severe price dumps are evident from DOGE, SHIB, AVAX, LINK, ADA, BCH, DOT, XLM, SUI, and even ETH. The second-largest cryptocurrency lost the important $3,500 resistance level and now sits below it after an 11% daily decline. These massive price fluctuations have harmed over-leveraged traders, with more than 330,000 such market participants getting wrecked over the past 24 hours. The total value of liquidated positions is up to over $1 billion, according to CoinGlass. The single-largest wrecked order took place on Bitmex. It involved ETH and was worth north of $11 million. Liquidation Heat Map. Source: CoinGlass The post Liquidations Skyrocket Beyond $1 Billion as BTC, Altcoins Bleed Out Heavily Again appeared first on CryptoPotato .
The buyout marks a pivot toward threat prevention for Chainalysis.
Bitcoin mining company Hut 8 (HUT) made an ambitious move by purchasing 990 Bitcoins for approximately $100 million at an average price of $101,710 per coin. The latest purchase brings the company’s total Bitcoin reserves to 10,096 BTC worth approximately $1 billion, placing Hut 8 among the top 10 institutional BTC holders. The Miami-based firm plans to use its Bitcoin reserves through a variety of strategies, including options, commitments, and puts. “Today, the market recognizes and values our strategic reserve, which effectively lowers our cost of capital and strengthens our financial position,” Hut 8 CEO Asher Genoot said in a statement. Genoot also noted that the company is open to purchasing more Bitcoin when market conditions are favorable. The acquisition comes after Hut 8 recently launched a $500 million intra-market equity issuance program, the proceeds of which are earmarked for BTC purchases and other investments. Related News: El Salvador Takes Another Step Back on Bitcoin - Country's BTC Officer Issues Statement Other miners have recently followed suit. Riot Platforms (RIOT) purchased 667 Bitcoin at an average price of $101,135 on Dec. 16, while MARA Holdings (MARA) has also been actively purchasing BTC to strengthen its finances. These strategies are proving effective as miners face shrinking profit margins following the recent Bitcoin halving. For example, MARA raised $1 billion in convertible debt last month, giving investors exposure to BTC equity instead of traditional interest income. Hut 8 sees its Bitcoin reserve as more than just a store of value. “We view our strategic reserve as a dynamic financial asset that can generate returns beyond a simple price appreciation,” CEO Genoot said. *This is not investment advice. Continue Reading: Another Company Announces Large Bitcoin Purchase: Here is its Average Purchase Price
Forget the mid-December dip – Wall Street Pepe (WEPE) is going from strength to strength. This new meme coin project has raised over $31 million in its token presale event, defying the market cooldown. And many early investors believe it could be the next big crypto success story. WEPE Token Presale Grows Despite Market Downturn
On-chain metrics revealed that exchanges have witnessed a significant $150.03 million worth of DOGE outflow.