Altcoin News Official TheBitTimes.com

Bitcoin plunged after US Treasury Secretary Scott Bessent ruled out government purchases for the Strategic Bitcoin Reserve, sparking over $1 billion in crypto liquidations—and then he backtracked. During a Fox Business interview, Bessent initially said the Treasury would not be buying Bitcoin for its strategic reserve, sending Bitcoin to a 24-hour low of $117,254. “We’ve also started to get into the 21st century, a Bitcoin reserve,” Bessent said during an interview with Fox Business. “ We’re not going to be buying that, but we are going to use confiscated assets and continue to build that up.”  Long positions on Bitcoin and Ethereum were hit hardest, wiping out more than $500 million combined. Sentiment was already vulnerable after a hotter-than-expected Producer Price Index (PPI) inflation. W holesale prices soared 0.9% in July, far above analyst estimates, sparking fears that a potential interest rate cut would be postponed. Then cam...

Apple Inc. (AAPL) held its flagship Worldwide Developers Conference on June 9, offering insights into the latest developments in Apple technology. While the changes coming to iOS, iPadOS, and macOS later this year were announced, not much light was shed on Apple Intelligence, the iPhone developer’s native AI software. Intelligent actions are coming to the Shortcuts app, which integrates Apple Intelligence into the existing Shortcuts program. There are also some sprinkles of Apple Intelligence in various software updates, including Genmoji in iMessages. However, some analysts were left disappointed by the lack of attention the struggling Apple AI software got at the conference. This disappointment leaked into investor confidence as well, as AAPL investors were hoping AAPL would keep catching up on the popular AI race. Goldman Sachs analyst Michael Ng shared his disappointment in Apple (AAPL) in his latest investor report. At WWDC, Apple “announced design improvements and new ...

Ethereum co-founder Vitalik Buterin has addressed recent concerns about a large ETH sale linked to his wallet. The cryptocurrency market was worried. The reason was that a wallet tied to Buterin sold over $2.2 million worth of ETH in just 12 days. Also Read: UK’s Landmark Crypto Bill: A Game-Changer for Bitcoin Holders Understanding the Impact of Vitalik Buterin’s ETH Sale on the Cryptocurrency Market The Sale Explained That sale from yesterday (by a bio-defense group I fund) was triggered by an automatic cowswap twap order that was set up way back on Aug 29. That was the last one. — vitalik.eth (@VitalikButerin) September 12, 2024 Buterin clarified the sale was automatic. He said that it was set up on August 29 using a “cowswap twap order.” He also said that this was the last sale he’s planning for now. The ETH sale was conducted by a bio-defense group that Buterin funds, which is adding an interesting twist to the story. Market Reaction The cryptocurrency...