[Rocketpot](https://rocketpot.io/) is a licensed crypto casino that operates under the regulations of Curacao eGaming. It features a mobile and desktop-friendly platform for users to enjoy gambling activities.

The casino prioritizes the privacy and safety of its users. Players can use Bitcoin and other cryptocurrencies to play in the casino, ensuring safe and secure entertainment. Utilizing blockchain technology and Bitcoin, the casino provides advanced security methods and more opportunities for players to win jackpots and earn Bitcoin.

## Rocketpot - The online casino

Rocketpot casino is a leading provider of Bitcoin games, offering a vast selection of almost 3,000 slot games, more than 300 table games, and live casino games.

Players can win guaranteed prizes through a reward system as they explore the website and play more. On reaching level 500, players can even win more than 20 BTC and enjoy the best Bitcoin blackjack games, classic slots, and more.

With several slot games available, players can easily choose their favourites and start playing. The only main requirement for wagering is a cryptocurrency wallet followed by registration on the platform. 

The crypto casino offers several top-tier live dealer games, providing a unique and engaging gaming experience. With a commitment to dedicated customer support and accessible tools, RocketPot constantly updates its offerings to provide the best user experience. Players can even use different crypto coins to play their favourite games.

## User-friendly gaming experience 

Rocketpot casino provides a user-friendly interface, allowing players to enjoy a wide range of Bitcoin games. With a focus on responsible gambling, the casino offers games, such as jackpots, playable with various cryptocurrencies. Available on desktop, iOS, and Android devices, users can download the casino or play directly from their mobile browser, providing convenient access from any location.

The platform features a simple and easy-to-use UI, including two-factor authentication and multiple cryptocurrency options for in-game interactions and placing bets. With high-quality graphics, players can enhance their gameplay experience by accessing different functions and selecting fast-paced gaming options. Rocketpot casino is optimized for players seeking a seamless, enjoyable gaming experience.

## How to register with Rocketpot

Rocketpot casino offers a swift sign-up process for new users. Before registration, it's advisable to check the casino's wagering requirements and bonuses and be aware that the services may not be available in certain jurisdictions.

To sign up, visit the Rocketpot website and click the sign-up button. 

Customers can enjoy various games the casino offers after registering and depositing Bitcoins. The platform offers Bitcoin bonus rounds to players who deposit and play with Bitcoins through their accounts.

Compared to other crypto casinos, the registration process on Rocketpot is quick and doesn't require extensive verification procedures. It typically takes less than a minute to register and get started.

Users must provide basic personal information such as username and email address to complete the registration process. The e-casino ensures that every Bitcoin transaction is processed within 10 minutes so that users can start gambling without any delay.

## Payment method

Rocketpot offers a range of payment options to ensure inclusivity. As a cryptocurrency casino, it provides more extensive payment options for crypto users. However, fiat payment options are also available. The accepted cryptocurrencies are Bitcoin, Bitcoin Cash, Litecoin, [Ethereum](/news/article/ethereum-pow-price-prediction), Dogecoin, NEO, Tron, USD Coin, [Ripple](/news/article/sec-vs-ripple-news), Cardano, Binance Coin, and Tether USD.

For those without cryptocurrency, depositing on Rocketpot is simple. The third-party payment provider, UTORG, allows you to buy BTC, ETH, LTC, or TRON using USD. This fast and user-friendly process enables players to begin playing and potentially win quickly.

## Withdrawal method

The platform offers various withdrawal methods to its users. Players must click on the website's withdrawal tab to withdraw their cryptocurrency and select a coin. They should then enter their crypto wallet address and the desired withdrawal amount. A verification link is sent to the user, and upon clicking the link, the withdrawal is processed. Rocketpot applies a withdrawal fee deducted from the withdrawal amount. Players should ensure they check the withdrawal limits before initiating a withdrawal.

The processed withdrawal is sent to the user's wallet. The withdrawal fee for Bitcoin is 0.0006, with a minimum deposit fee of 0.001 BTC. Additionally, Rocketpot offers customers a daily 10% cashback reward for a certain period. For example, if a player loses $100, they will receive a return of 10% the following day.

## Casino game offerings

Rocketpot provides new users a demo mode to familiarize themselves with the various live games. Users can enjoy [Bitcoin](/news/article/bitcoin-bull-or-bubble-debate) slots and live dealer variants of table games, which offer a thrilling gaming experience with reduced wagering requirements. 

Below is the list of online casino games provided by Rocketpot:

### Slots

Players have access to a diverse array of slot machines. With more than 3,000 games available, 2,600 of them are dedicated to various types of slot games. The platform also offers crypto video slot machines, which can be conveniently accessed via the slot menu.

### Jackpot games 

The casino offers jackpot games that allow players to contribute a small portion of their wagers to a collective prize pool. Some popular jackpot games available include Mega Moolah Goddess, Cash Splash 5 Reel, and Major Millions. These games were developed by the renowned game developer MicroGaming and offer some of the biggest winning potential.

### Table games 

Rocketpot provides its users with an array of crypto table games, with separate tabs for roulette and blackjack games.

### Live casino

This platform offers a selection of high-quality live casino games powered by top software providers. It provides a wide range of games, with more than 700 options available through Evolution Gaming. Popular options include live blackjack, live roulette, live baccarat, and several live game shows, like Dream Catcher.

## Rocketpot Sports and esports betting 

### Sports betting

Sports enthusiasts can place their bets using Bitcoin or other preferred cryptocurrencies, which offers more advantages than other deposit methods in the casino. Transactions through these digital currencies are secure, fast, and safe, just like other top Bitcoin casinos, allowing users to deposit or withdraw funds within minutes. Users can head to the crypto sportsbook betting section to place a bet, deposit their preferred cryptocurrency with a few clicks, and start placing their wagers.

### Esports Bitcoin betting 

Rocketpot is a casino that allows users to place bets on its sportsbook if they excel in Rocket League, DOTA 2, FIFA, NBA 2K, or tennis. The casino also features esports Bitcoin betting, a wide variety of matches, and tournaments sure to pique users' interest.

### Bonuses and promotions

This online casino regularly introduces new promotions to keep long-term and new users engaged. Players can click on the bonus tab to learn about these offerings. For a limited time, the casino is providing a list of promotions, bonuses, and rewards that it currently offers. Below are the details of these limited-time offerings:

### BTC welcome bonus

This platform offers a BTC welcome bonus that doubles a user's first deposit. Additionally, players receive 10% cashback as bonus money and can earn other prizes upon starting their gameplay. The platform also provides instant withdrawals, allowing players to withdraw their winnings anytime.

### Super boosted monthly race

Each wager counts as one point on a leaderboard, with prizes paid out in Bitcoin. Additionally, users can receive 2,000 free spins.

Newcomers to Rocketpot can enjoy a range of bonuses, such as the Rocketpot casino gift card, welcome bonus, and deposit bonus. Adding an initial deposit can double their funds, allowing them to explore the various games offered on the platform. Additionally, players can benefit from 10% cash back on all their wagers.

Apart from these incentives, players can also receive a unique treasure chest with a guaranteed prize after clearing each level. In a nutshell, the platform offers an appealing gaming experience with numerous opportunities for users to win big.

### Affiliate program

Rocketpot offers an affiliate program enabling its users to invite their family and friends and earn up to 45% commission as an affiliate, making it the most lucrative compared to other cryptocurrency casinos. It supports 30 different types of cryptocurrency that offer minimal transaction fees and are user-friendly.

### Customer service

Customer service is a vital aspect of any casino, and Rocketpot casino prioritizes customer satisfaction by providing various contact options, including 24/7 live chat and email support. In addition, its mobile-friendly website ensures usability for a wider range of users, allowing them to enjoy the Rocketpot experience on almost any mobile device. The casino also offers language support for English, Spanish, Japanese, and German-speaking customers, with plans to add more options. The e-casino offers a hassle-free experience through live chat support, with friendly and informative representatives providing all the necessary answers.

## Is the platform safe?

Rocketpot is a legitimate online casino that provides an enjoyable gaming experience to its players. The casino has partnered with several well-known game providers in the iGaming industry, including Pragmatic Play, Evolution Gaming, Push Gaming, Microgaming, EvoPlay entertainment, and more. As of the writing time, there are zero complaints raised for the platform, adding to its credits of a legit e-casino. Its 2-factor authentication feature is ideal for keeping the user's information safe and secure. 

With more than 3,000 games available, players can use Bitcoin, Litecoin, Ethereum, Bitcoin Cash, or their preferred currency to bet and win. Therefore, Rocketpot is a top choice for anyone looking for a reliable and entertaining online casino.


Purple image of Rocketpot logo on purple background

Rocketpot Bitcoin Casino Review 

A [Bitcoin](/news/article/forked-bitcoin-ordinals-brought-to-litecoin) rally in the trading week of 13 to 17 March saw the cryptocurrency bring around 20% in gains to investors, data from [crypto](/news/article/silvergate-bank-crisis-sees-crypto-tank) price tracker CoinMarketCap showed. 

As of 09:30 UTC on Friday, BTC was exchanging hands for [$26,085.37](https://coinmarketcap.com/currencies/bitcoin/historical-data/). It reached a weekly high price of $26,514.72 on 14 March after opening the week at $22,156.41. 

The substantial increment in price has seen the largest digital asset by market capitalization spike by 60% year-to-date (YTD) from the year's opening price of $16,547.91.

## Bitcoin rally attributed to convulsions in banking sector and interest rate cuts

The cryptocurrency industry is largely affected by events in the banking sector as well as activities by the Federal Reserve in the US.
Reports of a collapse of three regional lenders in the US and liquidity problems at Credit Suisse Group AG are leading to expectations of an end to the monetary tightening that destabilized the decentralized finance industry in 2022.

According to many industry experts, the renewed interest in BTC reinforces the digital currency's dual role as a credible risk asset and a hedge against inflation.

Amid the Russia/Ukraine crisis, the Federal Reserve consistently hiked interest rates, leading to a demand for government bills and bonds. This did not augur well for the digital currency market, which has thrived on offering its stakeholders above-average annual percentage yield (APYs). This contributed to the market's nosedive for the majority of 2022.

Multiple reports point out that the Feds will pause interest rate hikes by the summer of 2023 and begin cutting the federal-fund rates around the end of 2023. This anticipation has also played a role in the significant ascension of the cryptocurrency.  

## Bitcoin dominance pushes the crypto market above $1.1 trillion

The crypto market has seen a trading volume of approximately $69 billion in the past 24 hours. This has taken its capitalization to $1.12 trillion.

Despite a fall in its historic values, BTCs fully diluted market capitalization of around $552 billion sees it control 45% of this market. In second place is the native asset of Ethereum, Ether (ETH), which has an 18% crypto market share.


bitcoins falling from sky with green filter overlayed

Bitcoin Rally Sees Almost 20% Gain This Week 

BTC has improved its value by 11% over the past 24 hours, according to data from Asia trading. This increase has effectively erased all losses suffered over 10-12 March, 2023. [Multiple reports](https://www.coindesk.com/markets/2023/03/14/bitcoin-crosses-247k-sees-highest-liquidations-in-two-months/) say the price spike is due to [Bitcoin](/news/article/forked-bitcoin-ordinals-brought-to-litecoin) liquidations emanating from betting on the decline of cryptocurrency prices after [Silvergate Bank](/news/article/silvergate-bank-crisis-sees-crypto-tank) and other crypto-related financial institutions fell into crisis last week. 

Overall, more than $100 million in BTC shorts (in trading, shorting refers to selling, while long means buying) were liquidated on 13 March. While this figure looks like a significant sum, it is nowhere near the 14 January Bitcoin liquidations, which saw around $500 million cleared from several crypto futures. 

[Cryptocurrency futures](https://www.investopedia.com/articles/investing/012215/how-invest-bitcoin-exchange-futures.asp) constitute an agreement between two parties to buy and sell an agreed amount of a particular crypto asset at a future price within a given timeframe.

## Bitcoin liquidations lead to a year-high trading volume 

As exchanges such as [Binance](/news/article/binance-us-cleared-to-buy-voyager), Bybit, Huobi, and OKX spread losses from the liquidations, interest in BTC rose as many traders saw a positive signal from the crypto market activity.

By the close of Monday, 13 March, BTC recorded a trading volume of approximately [$49.5 billion](https://coinmarketcap.com/currencies/bitcoin/historical-data/), the year's high and the largest since November 2022.

Overall, the crypto economy has been on a rebound in 2023. As always, the first digital currency has made up for gains lost during 2022 when it was crippled by Russia/Ukraine crisis, rising interest rates which led to renewed interest in government bonds and bills, and, of course, the crash of TerraUSD (UST). As of 10:00 UTC, BTC was up 48% year-to-date (YTD).

Despite the ups and downs of the crypto market, analyst Freddie Max at [Price Prediction.net](https://priceprediction.net/en/price-prediction/bitcoin) foresees BTC climbing to an average price of $31,243, testing the smallest possible price of $30,356, and reaching the best possible price of $34,916 by the end of the year.


Bitcoin Liquidations Spark Price Spike 

[POLi Payments](https://www.polipayments.com/index.html) is an online payment system that provides customers with a secure and convenient payment method, and allows them to buy cryptocurrencies, including Bitcoin.

This payment system is a subsidiary of Australia Post, one of the world's largest postal services. The company has been operating since 2010 and is headquartered in Melbourne, Australia.

The platform enables users to purchase [Bitcoin](/news/article/bitcoin-fear-and-greed-index) or crypto using POLi deposits through trusted exchanges regulated in Australia by AUSTRAC. It employs a direct connection to the user's bank account, meaning there is no need to provide credit card details when making a payment. The only requirement is the user's internet banking login details.

Once the user has logged into their bank account via the POLi platform, they can select the amount of money they want to transfer. The funds are transferred immediately from the user's bank account to the merchant's account.

## How to buy Bitcoin with POLi Payments

In Australia, it is advisable to purchase Bitcoin or other cryptocurrencies using POLi through a broker registered with AUSTRAC (the Australian Transaction Reports and Analysis Centre) and regulated by ASIC (the Australian Securities and Investments Commission).

[eToro](/news/article/etoro-uk-review) is a trusted multi-asset investing platform that meets these requirements, offering a broad range of more than 70 cryptocurrencies. The platform is ideal to buy Bitcoin with POLi. Below is the step-by-step process:

•	Step 1: Register an account with [eToro](/news/article/etoro-fees) and complete the verification process, whether for personal or company use.

•	Step 2: Input the desired amount in AUD that you wish to deposit on the eToro platform.

•	Step 3: Log in to your bank account via the POLi platform and deposit your preferred fiat currency.

•	Step 4: Locate the cryptocurrency you wish to purchase and execute your trade.

## Is the payment platform safe?

The platform provides a secure and reliable online payment system to safeguard your personal and financial information. The company employs cutting-edge security protocols such as 128-bit SSL encryption to ensure the safety of your data. 

Furthermore, your transactions are processed through a secure connection to your bank, and your bank login details are never stored on the server. This makes it an ideal option for online payments, particularly if you do not possess a credit card or do not wish to use one for online transactions.

## Bottom line

POLi Payments is a reliable and efficient option for individuals purchasing cryptocurrencies such as Bitcoin in [Australia](/news/article/australia-crypto-regulation). This payment method is characterized by its fast, secure, and user-friendly process. Using POLi deposits, customers can securely buy digital assets through the eToro exchange at low transaction costs.

For those searching for a viable alternative to traditional payment methods when acquiring cryptocurrencies within Australia, POLi payments could be the ideal solution.


How to Buy Bitcoin with POLi

US Government law enforcement has transferred some 50,000 Bitcoin seized from Silk Road hackers in the past two years. The Bitcoins are worth around $1 billion and are related to multiple US government wallets.
On 8 March, addresses connected to US law enforcement transferred BTC to the second largest crypto exchange, Coinbase. Currently, some of the confiscated assets are on sale on the Coinbase exchange, while others were moved to new addresses.

The news has also triggered a dip in the price of BTC. Is the [Bitcoin bull](/news/article/bitcoin-bull-or-bubble-debate) over?

## Silk Road Bitcoin transfers

A blockchain analytical firm, [PeckShield](https://twitter.com/PeckShieldAlert/status/1633331891347820544?s=20), has shared the details of the seized [BTC](/coins/btc) transfers. According to the firm's data, a law enforcement office of the US Government made three transfers. More than 50,000 BTCs were in these wallets.

Among these transfers, most were internal. However, PeckShield pointed out that the US Government wallets transferred 9,861 Bitcoins to the Coinbase cryptocurrency exchange.

The law enforcement department also made two other transfers. One included the movement of more than 30,000 BTCs to a wallet bc1qf2…fsv. The second transfer involved around 9,000 BTCs moved to an address bc1qe7…rdg.

The firm also revealed that the US Government confiscated Bitcoins from a marketplace on the Silk Road. According to PeckShield, the agencies [seized the unlawful assets](/news/article/feds-seize-bitcoin-stolen-crypto-scam) in November 2021 and March 2022.

## BTC transfer to Coinbase may trigger a sell-off

After the announcement of the transfer of seized BTCs to the Coinbase exchange, [BTC prices dropped](/news/article/bitcoin-volatility-price-drops) significantly. Usually, the increase in the inflow of an asset in the market results in high selling pressure. A high selling pressure means the asset price is going to decrease.

![btctransfer.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/btctransfer_4db9344793.png)
 
Source: [CryptoQuant](https://cryptoquant.com/asset/btc/chart/exchange-flows/exchange-inflow-total?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=column)

This chart shows that the rise in BTC inflow has triggered the fall in its price. Though it does not indicate a continued sell-off in the market, it has certainly affected the current price. In the past 24 hours, the Bitcoin price dropped from $22,469 to just above $22,000.


green image of bitcoins with silk road coin and coinbase logo on top

Coinbase Receives Silk Road Bitcoin 

The developers behind the famous Bored Ape Yacht Club project, Yuga Labs, have revealed their new NFT collection. It is named Twelvefold and features NFTs with a 12-by-12 grid. One of the most popular NFT creators is interested in entering the [Bitcoin network](/news/article/what-is-bitcoin) with this new project. 

The digital art creators announced the new collection on 27 February, 2023. In a [Twitter thread](https://twitter.com/yugalabs/status/1630342395295412232), they also mentioned that the NFTs would be available for auction in the coming week.

## Twelvefold: A Bitcoin Ordinals NFT collection

The title given to this NFT collection by the BAYC developers signifies the base 12-time system. It refers to the Bitcoin Ordinals that are denoted with the time of their minting. 

There will be 300 collectables in the Twelvefold collection. These include generative art pieces that will be inscribed on [BTC](/coins/btc) Satoshis. Satoshis or Sats are the smallest BTC denominations that can hold data in JPEG, text, audio, or video.

That’s why the NFT pack will be using the [Bitcoin Ordinals](/news/article/forked-bitcoin-ordinals-brought-to-litecoin) protocol.
It allows developers to work with Sats for the creation of digital assets. 

Moreover, it makes it easier for users to transfer or receive those assets.

## When will the Twelvefold collectables release?

The creators did not give an exact date for releasing these digital assets. However, they mentioned that collectors might get to buy them in the ongoing week. [Yuga Labs](/news/article/yuga-labs-explained)’ team will likely give a 24-hour notice that will provide the details about the exact timings of the NFT auction. 

## The rise in the popularity of BTC Ordinals

The [Dune Analytics](https://dune.com/dataalways/ordinals) data insights suggest that more than 200,000 ordinals have been minted. Many projects are catching up on this trend. Before the announcement of Twelvefold, other popular projects also entered the market. It includes the Casey Rodarmor series, launched in January 2023.


Twelvefold NFT Collection Coming from Yuga Labs 

Anyone invested in or trading Bitcoin will understand the [power of technical analysis and accurate data](/news/article/how-does-crypto-trading-work), including the Fear and Greed Index.

Suffice it to say, there are a variety of sources, all of which profess to provide the most up-to-date information.

Bitcoin Fear and Greed Index is one such leading indicator popular with the online community.

The index appears as a Twitter account that claims to amalgamate data from various sources and provide a score based on trader and investor emotion and sentiment. The score ranges from 0 (extreme fear) to 100 (extreme greed), with a score of 50 representing neutral bias.

## ChatGPT

According to ChatGPT, the index considers factors such as volatility, market trends, social media sentiment, and trading volume in determining its score.

It must be remembered that this is only ever intended as an indicator and should never solely be used to base your investment decisions. That said, many successful investors use the index as part of their decision-making strategy. Technical analysis alone doesn't often paint an accurate picture, making the index a potentially handy tool to have at your disposal.

As you might imagine, higher scores suggest the market is overbought, whereas lower scores indicate a good time to buy.

The tool is free to access. Although it doesn't have a website, it uses Twitter to publish regular updates. I must admit that this does set off some alarm bells. Without concrete evidence, such as an API or data oracle, that demonstrates how these variables influence the indicator, the accuracy of the index must be called into question.

Although there is nothing to support the Twitter account 'Bitcoin Fear and Greed Index', [Alternative.Me](https://alternative.me/crypto/fear-and-greed-index/) produces a similar 'Crypto Fear and Greed Index', which gives ratings for the whole market.

## Sources

According to the analytics site [Look into Bitcoin](https://www.lookintobitcoin.com/charts/bitcoin-fear-and-greed-index/), the index is derived from six variables on a daily basis. These are:

•	Volatility (25%) – The current rate of volatility over the previous 30 and 90 days. It is widely accepted that higher volatility rates generally indicate an anxious market.

•	Volume (25%) – Again, relative to the previous 30 and 90 days, exceptionally high levels of trading volume can indicate high levels of greed in the market.

•	Sentiment (15%) – The index looks at general social media sentiment towards crypto with relevance to historical norms.

•	Surveys (15%) - Public polling platform StrawPoll was conducting weekly opinion surveys to garner the sentiment of a series of investors. However, this has been paused for the foreseeable future.

•	Dominance (10%) – BTC's overall market dominance is recorded and taken into account.

•	Trends (10%) – Google trends are viewed and analysed to identify strong periods of growth and decline in the market.

## Investment advice

When you overlay the index across the BTC price history chart, the usefulness of the indicator becomes apparent. While this tool may not be laser accurate, it becomes clear that when the indicator enters the lowest 10%, historically, this is the best time to buy BTC. Likewise, when scores reach the upper bands, this is a great time to consolidate profits and sell.

Users of the Crypto Fear and Greed version by Alternative.Me can install and embed the indicator widget to their website with minimal coding skills. However, Alternative.Me claims that despite listing the sources of its information, it is not 'investment advice, financial advice, trading advice, or any other sort of advice'.

## Other options

There are a wide variety of indicators available to the conscientious crypto investor. Models such as Stock to Flow, Pi Cycle Top Indicator, and the Rainbow Price Chart Indicator are all helpful in improving overall decision making.

It is important to view the Bitcoin Fear and Greed Index as a part of your crypto toolbox. It is a tool that, together with others, helps to form a picture of the current state of market conditions.


scared man and greedy man on blue background

Bitcoin Fear and Greed Index Explained 

PayPal has revealed it held massive crypto holdings for its customers totalling $604 million as of December 31, 2022. According to an [annual report](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001633917/b562e712-8266-493c-8ae8-e28f93404d2f.pdf), the global payment giant filed with the US Securities and Exchange Commission (SEC), Bitcoin (BTC) and Ether (ETH) comprised more than 60% of PayPal crypto reserves.

The $604 million worth of crypto holdings the firm held at the end of 2022 is slightly lower than the [$690 million](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001633917/bef30744-49c8-4913-a5d8-a2cf9bfaa429.pdf) held as of September 2022. The significant drop could have resulted from unstable crypto prices and dwindling user trust associated with the [devastating collapse](/news/article/ftx-exchange-under-investigation) of the FTX cryptocurrency exchange. 

## PayPal crypto reserves are 67% of its financial liabilities

The $604M worth of crypto comprised $291 million in Bitcoin (BTC) and $250 million in ether (ETH), with Litecoin (LTC) and Bitcoin Cash (BCH) making up the balance of $63 million. Per the report, PayPal crypto reserves account for 67% of its $902 million total financial liabilities. The filing further indicated that PayPal’s total financial assets were $25 billion.  
    
The global payment giant introduced a crypto buy and sell service for its US-based customers involving only specific cryptocurrencies in October 2020. Nonetheless, following the SEC's requirement via Staff Accounting Bulletin No. 121 ([SAB 121](https://www.sec.gov/oca/staff-accounting-bulletin-121)) in March last year, [PayPal](/news/article/paypal-news-transfer-crypto) only recently started disclosing specific holdings of different cryptocurrencies in its SEC filings. While the company's crypto service has existed since 2020, it was only in June 2021 that the firm allowed users to withdraw crypto from the platform.

## Used a third-party custodian

While acknowledging the specific technological, legal, and regulatory risks associated with dealing in cryptocurrencies, the fact that a PayPal crypto asset safeguarding liability reflected its obligation to protect its customers’ assets wasn’t lost to the company.

The company, therefore, revealed in the filing that it used a third-party custodian to store the customers' digital assets. Nonetheless, PayPal reiterated that it contractually required the custodian to segregate its customer assets to prevent such assets from being considered a part of the custodian's estate should bankruptcy or insolvency occur.       
 
PayPal Vice President Richard Nash indicated recently that the company was taking measures to reduce operational costs due to the ongoing market rout. The company was recently said to have reduced its workforce by at least 2,000 people to "strengthen" and "reshape" due to a "challenging macro-economic environment".

As a way of integrating blockchain and PayPal cryptocurrency services into the platform, the firm introduced a hold-and-sold Bitcoin service for its US-based customers in November 2020. The offerings would also include [central bank digital currencies ](/news/article/cbdc-bank-of-england)(CBDC).


PayPal crypto reserves reach $604 million

Tumbles in crypto values have followed the decision of cryptocurrency exchange Kraken to suspend staking.

On 9 February, major coins were in the red, causing a drop in the cryptocurrency market capitalization by 5.45% to $1.02 trillion. Bitcoin fell below $22,000, while Ethereum dropped to $1,549. Doge went down by 10.07% at $0.081.

Meanwhile, US stocks took a hit and erased previous gains, as concerns about potential decisions from the Federal Reserve overshadowed positive reactions to the latest round of corporate earnings reports. The S&P 500 saw a decline of 0.9% and closed at 4,081.50, while the Nasdaq Composite Index experienced a drop of 1.02% and fell at 11,789.58.

[Kraken](/news/article/crypto-exchange-kraken-faces-sec-probe) made a settlement with the US Securities and Exchange Commission. As part of the settlement, Kraken agreed to suspend its cryptocurrency staking operations and immediately discontinue its crypto staking-as-a-service platform for US customers. The [SEC](/news/article/sec-probe-giving-advice-for-crypto-trading) charged Kraken for offering unregistered securities and has asked it to pay a $30 million penalty.

## Investors witnessed [crypto tumbles](https://www.benzinga.com/markets/cryptocurrency/23/02/30850294/over-200m-long-crypto-positions-wiped-out-as-bitcoin-ethereum-dogecoin-drop?SNAPI) across markets in the aftermath of the Kraken suspending staking operations

Almost $200 million worth of long and short crypto was liquidated in the past 24 hours. More than 43% of liquidations worth $100M took place on Binance. Of the total liquidations, $53M worth of BTC was liquidated, ETH liquidation stood at $52M, and Doge liquidation totalled around $5M.

## Crypto analyst advice to traders after crypto tumbles

Crypto analyst Rekt Capital has sounded the alarm on [Bitcoin's](/news/article/jim-cramer-says-ignore-bitcoin-hype) impending losses. According to the analyst, the BTC must close above $22,692 to maintain its technical uptrend.

The analyst has cautioned traders about the dangers of making trades based on "fear of missing out" (FOMO) and instead suggests, "if you must FOMO, choose a red day".

Another crypto analyst, Kaleo, views the recent retest of the high-timeframe trend breakout as a supportive factor for Bitcoin. Kaleo believes that the market has yet to experience a significant breakout, which presents an opportunity for investors to accumulate more BTC. Although it may take some time, Kaleo believes that the $30,000 level remains a target for the cryptocurrency.


red image of kraken logo and Ethereum, Dogecoin and Bitcoin tokens falling

Crypto Tumbles as Kraken Suspends Staking

Marathon Digital Holdings Inc., a crypto mining firm, made BTC sales for the first time in two years. The firm needed to tap the recent Bitcoin rally. That’s why the company sold around 1,500 Bitcoins, as the token surged over 40% in January.

## Marathon Digital mined a record 687 Bitcoins

On Thursday, the crypto mining firm [released an update](https://ir.marathondh.com/news-events/press-releases/detail/1300/marathon-digital-holdings-announces-bitcoin-production-and) about its mining operations in January. It mentioned that the firm mined around 687 BTCs in the month, and the production saw a 45% increase compared to the previous month. 

In addition, the official statement discussed that the firm made the strategic decision to sell the tokens. The reason behind this move was higher and consistent growth in production. The sale of BTCs will allow the company to cover its operating expenses.
 
The company has sold more than 1,500 tokens and plans to sell more. Even after this sale, its total holdings stand at 11,418 BTC, from which 8,090 [BTCs](/coins/btc) are unrestricted. Meanwhile, the company also reduced its BTC collateral with the sale and increased its unrestricted cash to around $133.8 million.

## Is it panic selling?

[Marathon’s](https://marathondh.com/) move may seem like panic selling as the fear of winter looms around the crypto market. However, CEO and Chairman Fred Thiel disclosed that the reason for selling its holdings was higher production which increased its unrestricted holdings.

Meanwhile, the overall crypto market, specifically BTC, saw an historic January. The [token saw a spike of more than 40% in its price, which indicates bullish trends.](/news/article/what-is-todays-bitcoin-price) That’s one of the reasons the company sold a small portion of its Bitcoin reserves in January. 

Last year, the crypto miner’s production was down by around 44%, yet it persisted with diamond handling. However, now that the market behaviour is positive, it has decided to sell to cover its operating costs and increase its liquidity.


Marathon Digital Makes BTC Sale for First Time

Among the most popular Bitcoin mining pools available on the market today is MetaMining Club.

Based in Abuja, Nigeria, MetaMining Club is Africa's fastest growing blockchain mining operation and provides its clients with the opportunity to benefit from the mining of Bitcoin with minimal effort.

## Why mining?

The rise of Bitcoin has left many asking, "how do I get involved?". The recent volatility of crypto market trading means the search for Bitcoin passive income has never been greater.

For some time, one of the most popular methods for making money in crypto has been to get involved in mining. Crypto mining is the validation of transactions across a Proof of Work (PoW) network.

Computers battle to solve complex algorithmic math problems in a competition to process the next block of data on the chain – hence the term blockchain. For doing this, miners are [rewarded a portion of the fees](https://en.wikipedia.org/wiki/Cryptocurrency#Mining) charged to those sending crypto.

Mining Bitcoin has proven to be a very lucrative business, with large mining 'farms' set up worldwide. Some of these operations consist of thousands of mining rigs processing many transactions a day.

As you are probably all aware, mining [Bitcoin uses a massive amount of electricity](/news/article/crypto-mining), so much so that many Bitcoin mining farms look to locate their rigs in cold climates (negating the need for expensive air conditioning) with low electricity rates.

## Pool mining

Mining crypto has become increasingly difficult with recent rises in the cost of electricity and the hardware needed to compute ever-complex calculations. There is, however, a cheaper alternative to setting up your own mining operation. This is what is known as Bitcoin pool mining. With pool mining, no technical knowledge is needed. As the name suggests, you simply contribute to a pooled mining operation that conducts [all the hard work for you](https://river.com/learn/how-bitcoin-mining-pools-work).

[MetaMining Club](https://metaminingclub.com/) can manage the entire process for you – all you have to do is invest your money with them.

MetaMining Club has 10 'packages' to choose from, costing from under £2,500 up to £39,000. Each option promises varied levels of returns. For example, if you opt for the CityBoy package costing 7 million Naira (£12,618), you can expect payouts of somewhere between 480,000 and 880,000 (£865 - £1586). Calculations are a little vague, but the website shows that the expected monthly mining output is somewhere between 0.0029 and 0.0043 BTC. All machines used are S91 Antminers, which can process up to 15.2 Terra hashes per second.

## Risks

MetaMining Club offers the customer the chance to get involved with Bitcoin mining without getting their hands dirty. MetaMining Club hosts machines on their own mining farms and, in turn, connects these machines to major mining pools. This way, MMC can ensure that its returns are among the best in the business.

The high hash rate output is also one of the main reasons MetaMining lub can provide above-average rates of return.

Obviously, investing in crypto comes with risks. However, as miners are not actively trading, the volatility associated with crypto does not have any bearing in this situation. Furthermore, because MetaMining Club connects to mining farms abroad, they do not have to comply with restricting legislation in your resident country.

With any investment, it is important to conduct your own research and due diligence before you decide to part with your hard-earned cash. I advise the same in this situation


Metamining: Earning Passive Income from Bitcoin

A disagreement has arisen between the Panama National Assembly and the government regarding a proposed crypto law.
In April, Panama legislators passed a legislative draft aimed at controlling cryptocurrencies, including [Bitcoin](/news/article/jim-cramer-says-ignore-bitcoin-hype), in the country. 

Nevertheless, President Cortizo warned a few weeks later that he would only sign it if it incorporated extra Anti-Money Laundering (AML) regulations.

On 26 January, Panamanian President Laurentino Cortizo referred the crypto law enacted last year to the Supreme Court for examination, asserting that the [crypto](/news/article/best-cryptos-to-buy-now) bill contradicts fundamental aspects of the constitution and cannot be implemented. 

## What is the controversy with the Panama crypto bill?

In September 2021, a Panama crypto bill was introduced to align the nation with the digital economy, blockchain technology, cryptocurrency, and the internet. According to the legislation, Panamanians are allowed to use [cryptocurrency](/news/article/cryptocurrency-books-guide), including but not limited to Bitcoin and Ethereum, as a substitute form of payment for any commercial or civil transaction. 

The government's innovation authority would also examine blockchain or distributed ledger technology for digitising identity.
The Financial Action Task Force, which aims to enhance financial transparency and prevent money laundering, proposed legislation permitting private and public usage of cryptocurrency assets.

The Panamanian National Assembly approved the bill on 28 April, 2022, with a vote of 38 in favour and none against. With this, Panama could soon become the third country in the world to treat cryptocurrencies on equal footing with fiat currency.

A definitive statement from the president's office stated that the provisions of articles 34 and 36 in the bill, which establish administrative structures within the government, infringe upon the state's separation of powers and therefore are invalid. After partially rejecting the legislation in June, President Cortizo also expressed that the approval process for the bill was inadequate.

At the time, the president [stated](https://www.presidencia.gob.pa/Noticias/Ejecutivo-remite-a-la-Corte-Suprema-proyecto-de-ley-que-regula-uso-de-criptomonedas) that further amendments were needed to the legislation to align it with the latest regulations. It is now up to the Supreme Court to determine whether to declare Bill No. 697 unenforceable or to give it the green light with modifications.


yellow image of panama with crypto bitcoins falling from sky

Panama crypto bill Awaits Supreme Court verdict

Bitcoin has now completed its 11th straight day outside the "Fear" zone on the Crypto Fear and Greed Index, extending its longest stretch since late March. What is today's price?

## What is today's Bitcoin price?

Today's Bitcoin price reached $23,955, its highest level of the year. It has now dropped marginally to $23,687 as of this writing. Meanwhile, sentiment is solidly in the Greed zone, with a score of 61, its highest level since bull run peak on around 16 November, 2021, when it was about $65,000.

## Will the Bitcoin price last? 

Despite the coin's recent strong rebound, market players continue to discuss whether the current price rise is part of a [bull trap](https://seekingalpha.com/article/4573410-bitcoin-bull-trap-fully-loaded-technical-analysis) or whether there is a genuine opportunity for a [bull run.](/news/article/bitcoin-forecast-2023)

The current rise has brought many more holders back into the green. 64% of BTC investors are currently profiting, [according](https://app.intotheblock.com/coin/BTC) to statistics from the blockchain intelligence portal IntoTheBlock. According to on-chain analytics firm Glassnode, those who initially purchased BTC in 2019 are also back in profit. 

## What will be today's BTC price?

The average first-time purchase price for [BTC](/news/article/bitcoin-to-pounds) investors in 2019 was $21,800, implying that those investors are up nearly 9% at $23,687. 

Meanwhile, according to a [survey](https://twitter.com/coingecko/status/1619790705567895552) conducted on 29 January by crypto market platform CoinGecko, 57.7% of 3,725 respondents expect BTC will reach $25,000 this week, while just 21.2% believe BTC will fall below $22,000.

## Analyst views on BTC resurgence

Dr Jeff Ross, the founder and CEO of Vailshire Capital, also gave a technical analysis, predicting that a short-term spike toward $25,000 is possible. 

On 29 January, Blockware's head analyst Joe Burnett warned his 43,900 Twitter followers that BTC will not reach and surpass its all-time high of $69,000 until after the second halving event, which takes place in March 2024.

According to Lyn Alden, a macroeconomist and financial consultant, there may be significant danger ahead, with [potentially risky liquidity circumstances](https://www.coindesk.com/markets/2023/01/10/poor-bitcoin-market-liquidity-keeps-crypto-whales-at-bay/) predicted to jolt the market in the second half of 2023.


What is today's Bitcoin price?

According to [Chainalysis research](https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-russia-ransomware-money-laundering/), Binance crypto exchange processed almost $346M in illicit Bitcoin (BTC) funds for seized cryptocurrency exchange Bitzlato.

Bitzlato's Russian co-founder Anatoly Legkodymov was arrested in Miami last week on charges of operating the platform as an unlicensed money exchange business and processing $700M in illegal funds.

Reportedly, Legkodymov admitted to catering to "known crooks" through the medium of the cryptocurrency exchange. On 18 January, 2023, he was charged by the US Justice Department for fueling a "high-tech axis of cryptocrime”.

## Binance's role in Bitzlato's money laundering spree

Between May 2018 and September 2022,[ it is reported ](https://www.fincen.gov/sites/default/files/shared/Order_Bitzlato_FINAL%20508.pdf)that Binance was among Bitzlato’s top three Bitcoin-receiving counterparties, the others being Hydra, a Russia-connected darknet market, and “TheFiniko”, the supposed Russia-based Ponzi scheme.

In the same period, the seized cryptocurrency exchange’s top three Bitcoin-sending counterparties were Hydra, LocalBitcoins, a VASP incorporated in Finland, and “TheFiniko”.

According to the US Treasury's Financial Crimes Enforcement Network (FinCEN), each of these sending/receiving counterparties is associated with illicit activities, and a majority of them have substantial ties and/or operations in Russia.

It is evident that Binance is the only [high-end cryptocurrency trading platform](/news/article/guide-to-binance-uk) among Bitzlato’s top sending/receiving counterparties.

According to Chainalysis research, Binance crypto platform moved more than 20,000 BTC, worth about ~$346M at the time, across 205,000 transactions, between May 2018 and the time of Bitzlato’s closure (last week).
Around $175M worth of Bitcoin was transferred from the seized trading platform to the crypto exchange in this period, making it the largest receiving counterparty of Bitzlato.

Nearly $90M of these transfers took place after August 2021. What adds interest to this is that the Binance crypto exchange had enforced mandatory user identification at this point to combat financial crimes.

Furthermore, in a blog last year, Binance said this would help tackle ["the funding and laundering of money from illicit activities"](/news/article/binance-news-dea-uses-exchange-to-track-cartels). Moni Talks could not confirm whether the identification check was enforced in dealings with the seized cryptocurrency platform.

It is worth noting that Binance is providing assistance to international law enforcement in the quest to support the Bitzlato investigation. Currently, it is unclear whether the trading platform's financial dealings with Bitzlato are under judicial review.

The news has been met with a downturn in crypto markets, as top cryptocurrencies have tumbled in price.


Red image of bitzlato logo and falling binance coins

Binance Crypto Exchange Linked to Bitzlato

## Jim Cramer suggests investors ignore Bitcoin hype

Jim Cramer, the host of CNBC's Mad Money, [recently advised](https://www.cnbc.com/2023/01/23/jim-cramer-why-investors-should-ignore-crypto-and-stick-with-gold.html) investors to exercise caution when investing in cryptocurrencies.

###Jim Cramer suggestion to investors

Despite the [recent gains in Bitcoin's value](/news/article/bitcoin-bull-or-bubble-debate), Cramer suggests that investors should consider investing in gold instead. 

Bitcoin continued to rise in value on Monday, reaching a high of $23,155.93 as investors bet the Federal Reserve will slow or halt interest rate cuts.

According to Coin Metrics, the digital currency's price rose to $23,333.83 on Saturday for the first time since August. The coin has risen nearly 39% since the beginning of the month.

![graph](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_01_24_at_11_41_30_289ce18657.webp)

Cramer said the charts indicate investors "need to ignore the crypto cheerleaders" following Bitcoin's resurgence. If you want "a real hedge against inflation or economic chaos", choose gold, he added.
 
The basis for his advice is the analysis by Carley Garner, a senior commodity market strategist and broker at DeCarley Trading. The study compares the daily chart of Bitcoin futures to that of the tech-heavy Nasdaq-100 since March 2021.

It is observed that [Bitcoin](/news/article/scaramucci-bitcoin-price-prediction) and other cryptos are almost trading in lockstep, suggesting they are risky assets rather than a currency or a stable store of value. Furthermore, the advice is that given the volatility of Facebook and Google shares, it would be unwise for business owners to try to conduct transactions with them, and the same goes for Bitcoin.

According to Cramer, "counterparty risk", which is the possibility that the other party in an investment or transaction might not uphold their end of the deal, is why they trade so closely.

He said that although counterparty risk can be avoided by storing Bitcoin in a decentralised wallet, as it is used for trading, the risk will return. Pointing to [FTX](/news/article/ftx-us-reports-415-million-hacked) collapse, he firmly suggests gold should be the potential investment.


Jim Cramer Says Ignore the Bitcoin Hype

Mercado [Bitcoin](/news/article/btc-price-today) is a Brazilian cryptocurrency exchange founded in 2016. It is centralised, has almost 1 million traders, and has a 24-hour trading volume of around 89.91 from 146 coins and 146 trading pairings. BTC/BRL (42.04) is the most active trading pair on the Mercado Bitcoin exchange. 

With more than 2 million registered clients and over 12 billion reais in transactions through 2019, the company's platform usage volume has increased 15-fold in the last 18 months. Expectations for the following two to three years are considerably higher, with a 100-200x increase predicted.

## How does Mercado Bitcoin expect to grow?

After extensive research into Google Cloud products, it was discovered that they were ideal for the demands of its IT team, particularly in terms of performance, security, stability, and support. Such expansion necessitates a highly scalable infrastructure, increased security, and enhanced application administration. The firm already utilised [Google](/news/article/solana-news-google-becomes-validator) Cloud for a few data storage functions and hosted its platform servers elsewhere.

## Mercado Bitcoin announces first stablecoin

Mercado Bitcoin (MB), [Brazil's](https://www.crypto-news-flash.com/stellar-lumens-gets-first-stablecoin-from-brazil-with-mercado-bitcoin-fostering-ecosystem-growth/) largest cryptocurrency exchange, has announced the debut of its first stablecoin, the MBRL, which is purportedly backed by reais. According to the release, the MBRL stablecoin is on the Stellar (XLM) network. 

However, the cryptocurrency exchange has stated that the MBRL stablecoin would be available on other blockchains. Furthermore, the success of a stablecoin is directly proportional to the number of chains it traverses. The objective is to accelerate the potential for the adoption of blockchain applications in Brazil, and produce solutions that empower clients' daily transactions, stated Reinaldo Rabelo, CEO of MB.

The Stellar community will benefit significantly from Mercado Bitcoin's MBRL stablecoin due to increased on-chain activity. Furthermore, the MBRL stablecoins will pay Stellar Lumens blockchain fees using XLM.

## Partnership with Druid

[Mercado Bitcoin](https://forbes.com.br/forbes-tech/2022/12/mercado-bitcoin-amplia-atuacao-e-estrutura-frente-de-games-e-e-sports/), one of Latin America's leading Bitcoin marketplaces, has launched a gaming and e-sports front, with the first announcement being the sponsorship of the INTZ squad. Druid Creative Gaming, a specialised agency, will be responsible for the strategy, conception, and implementation of MB activities for games, metaverse, activations, and sponsorships for the e-sports market.

Druid and Panamera worked together to create a film that features the streamer Sher as an ambassador. She is the first trans streamer of INTZ and was responsible for organising the first League of Legends for transgender people championship, in addition to winning the 'Best Female Streamer' award at the CCXP Awards. 

As a first initiative, Druid is launching a campaign announcing a relationship with INTZ, intending to merge the segment's present expanding strength with the crypto world's advances.


Green image of mercado bitcoin logo on abstract background

What is Mercado Bitcoin?

Bitcoin (BTC) had a significant price increase at the start of the new year.

However, some experts are still determining if the cryptocurrency will maintain its upward trend in the near to medium term. The significant price increase of BTC, with 14 consecutive days of price rises earlier this month, has [sparked debate](https://cointelegraph.com/news/bitcoin-price-surge-breakthrough-or-bull-trap-pundits-weigh-in) among many as to whether it marks a significant "breakthrough" or is simply a [Bitcoin](/news/article/bitcoin-surge-hits-new-heights) bull trap.

## Experts opinions on the potential for a Bitcoin bull trap

On January 23, James Edwards, a cryptocurrency analyst from the Australian fintech company Finder, told Cointelegraph that the possibility of a "bull trap" is increasing and that the recent surge in the market could be temporary. He explained that as a result, we would see more companies selling off assets as they try to manage their debt by releasing tokens onto the market and remaining financially stable.

Edwards stated that several significant obstacles must be overcome before a new bull market in cryptocurrency can start.

According to Bloomberg Intelligence Senior Commodity Strategist Mike McGlone, the primary obstacle for Bitcoin and cryptocurrency prices is the global economic recession and tightening policies by central banks. He also stated that the macroeconomic ebbing tide is still the primary headwind for Bitcoin and crypto prices.

On January 21, cryptocurrency analyst and swing trader "Capo of Crypto" warned his 710,000 Twitter followers that the past push resistance for [BTC](/news/article/scaramucci-bitcoin-price-prediction) looked like "the biggest bull trap" he has ever seen.

IncomeSharks has a positive outlook, and they shared a chart titled "Wall St. Cheat Sheet" to its 379,300 Twitter followers on January 22, mocking those who believe that the recent price movements are a sign of a "bull trap".

Recently, Sem Agterberg, the CEO and co-founder of CryptoSea, suggested a possible "Bull Flag Breakout" towards $25,000 may be imminent. His series of [tweets](https://twitter.com/rovercrc/status/1616528285164343297) expressed a bullish sentiment toward BTC price action.

Some individuals have chosen not to predict the future price of Bitcoin due to the market's volatility.

## What does the Fear and Greed Index say?

According to [Alternative.me](https://alternative.me/crypto/fear-and-greed-index/), the current value of Bitcoin (BTC) is $22,738 and the Bitcoin Fear and Greed Index is at a neutral level with a score of 50 out of 100. On January 13, the cryptocurrency broke away from the "Fear" zone, recorded at 31, as the BTC price rose for seven consecutive days.


green image f bitcoin and pile of gold with Bitcoin trading image on a mobile phone

Bitcoin Bull or Bubble? The Debate

In the early days of 2023, Bitcoin drives the crypto market and Bonk, a new meme coin, is making waves with its surge.

BTC, the top cryptocurrency, has gained 26% so far this month, including 22% in the past week, rising back above $20,000 and setting it up for its best month since October 2021, shortly before the Big Crypto Crash.

Ether has risen 29% this year, helping push the global cryptocurrency market past $1 trillion, according to CoinGecko. "After a tough year last year for cryptos, we are seeing a type of mean reversion," [said Bespoke Investment Group analyst Jake Gordon](https://www.reuters.com/technology/cryptoverse-bitcoin-is-back-with-bonk-2023-01-17/), referring to asset values returning to long-term norms.

Bitcoin surge drags crypto market up with it
Dogecoin and Shiba Inu have risen by 19% and 27% in 2023. But buyers beware.

Wave Financial co-founder Les Borsai advised investors to be wary of altcoins like DOGE, Shiba Inu, and Bonk. However, speculators are speculating on these tokens.

[Since FTX, the crypto exchange, filed for bankruptcy in November](/news/article/is-crypto-dead), the Solana blockchain has lost funds and users. However, Bonk, a dog-inspired Solana meme coin, is gaining popularity. The Solana token has risen 131% in the first few weeks of 2023, the largest gainer among significant cryptos.

Tom Dunleavy, senior research analyst at data firm Messari, said talk of Solana's death have been "highly overblown". The ecology is strong despite speculation driving price appreciation.

## Crypto reversal too early

Crypto gains were attributed to anticipation that inflation had peaked, decreasing the need for tighter central bank policy. "Bitcoin and crypto tend to front-run everything," said Wave Financial's Borsai.

According to Blockchain.com, Bitcoin trading volumes on major exchanges reached $151 million in a week, the largest in nearly two months. Chainalysis data showed a Bitcoin surge with total BTC flows, including trading and payments, rising by 13,130 BTC in the last seven days, the greatest increase in 64 days.

Market watchers cautioned against premature celebration due to low trading volumes and macroeconomic uncertainty.

"Despite the recent surge we've observed, it's too early to proclaim a definitive reversal for the crypto market," said Prometheum co-founder Aaron Kaplan. He added that if interest rate increases are below market expectations, there will be a benefit to risk assets. This could, he said, see crypto prices continue to trend upward.

Kaplan, however, warned: "There's too much uncertainty right now."


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