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☆ Bitcoin tumbled after a slate of ETFs launched. Here’s why that might dent some crypto miners’ profitability
▼ + stars: | 2024-01-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Investors in bitcoin mining stocks are closely watching the price of the cryptocurrency after the Securities and Exchange Commission's move to allow spot bitcoin ETFs became a sell-the-news event. After the ETFs received regulatory approval last week, the flagship currency briefly touched $49,000. As the week went on, however, bitcoin wiped out its earlier gains and notched a modest weekly loss of 0.01%. "If [the bitcoin price] gets to $45,000 or below only the newest, most efficient miners with the … lowest cost power are going to be able to stay online." "We would view any sell-off [in mining stocks] as a buying opportunity, as the ETF does not directly impact mining economics or change competitive dynamics, and we remain bullish on bitcoin and bitcoin miners in 2024," he wrote.

Persons: bitcoin, Reginald Smith, Chase White, they're, White, Iris Energy, Smith, Iris Organizations: Securities, Exchange, Marathon Digital, JPMorgan, bitcoin's, Compass, Iris, Cipher Mining, Iris Energy

Marshals have for the first time released data on how many people were shot by their officers or other police working with them. Marshals Service Director Ronald Davis ordered the review last year, saying it reflects the seriousness of shots fired by officers. The report does not include information on whether the shootings were deemed legally justified nor data on more recent shootings, though it does say that those outlined in the report were independently investigated. The aim was to study policies, training, tactics and equipment to figure out ways to make shootings less likely or destructive in the future, the report released Tuesday states. Marshals, and they work with more than 3,500 task force officers from departments around the U.S., the report states.

Persons: It's, Ronald Davis, Marshal, Chase White, “, Lee Friedman, Geoffrey Alpert, ” Alpert Organizations: WASHINGTON, U.S, Marshals, Justice Department, FBI, University of Illinois, University of South Locations: Tucson , Arizona, Texas, U.S, Chicago, University of South Carolina

☆ Bitcoin investors are feeling deja vu as the setup for the next bull run takes shape
▼ + stars: | 2023-07-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

The dollar index, which usually moves inversely with bitcoin, also hit its lowest level in more than a year last week, and bitcoin didn't budge. "It wasn't until the bitcoin halving a year later, in the spring of 2020, that we saw a market recovery transform into a sustained rally. Investors tend to expect seasonal gains in the fourth quarter, which has brought bitcoin a 93.38% return on average since 2013. The Ripple case also gives the industry hope that the SEC "takes its foot off of the enforcement pedal," Canaccord Genuity said. "Until the next difficulty adjustment, which will happen in about two weeks, miners' selling pressure will likely continue," Hasegawa added.

Persons: Bitcoin, bitcoin, pullbacks, Andrew Lawrence, Censo, Lawrence, it's, Cantor Fitzgerald, Canaccord Genuity, Chase White, they've, bitcoin's, Yuya Hasegawa, Hasegawa Organizations: BlackRock, SEC, Investors

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