Bitcoin miner revenue has fallen to around US$30 million (AU$42.6 million) per day, while transaction fees now contribute only a small share of earnings. Bitcoin has traded below JPMorgan’s estimated US$78,000 (AU$110,760) production cost for five consecutive months, leaving roughly 20% of miners unprofitable. Mining difficulty has declined twice this year and public mining companies […]
Bitcoin tested a two-week low near US$62,000 (AU$89,280) on Tuesday, down about 4%, as investors retreated from risk assets across global markets. Ether, XRP and Solana each fell at least 5%, while the Nasdaq slid and semiconductor stocks led equity losses, with Micron and SanDisk down 12% and 13%. The retreat followed a hawkish signal […]
STRC fell to a record low and remains well below its US$100 (AU$142) liquidation preference, disrupting a key funding source for Strategy’s Bitcoin purchases. The weakness has revived criticism from figures including Peter Schiff, who argue the structure depends on ongoing capital raising to function. While Strategy’s Bitcoin buying has slowed markedly in recent months, […]
Bitcoin Microtransactions Surge to 80% of Network Activity as Ordinals and Runes Fuel Onchain Growth
Bitcoin transactions under 0.01 BTC now account for roughly 80% of daily network activity, up from 44% in 2023, according to CryptoQuant data. Ordinals inscriptions, Runes tokens, BRC-20 assets and data-stamping services have driven daily transaction counts above 800,000, near record highs. The surge comes even as Bitcoin prices stay under pressure near US$64,000, raising […]
Australia’s crypto Travel Rule becomes fully effective on 1 July, requiring exchanges to verify and retain sender and recipient information for all digital asset transfers. Some Bitcoin holders have reportedly withdrawn funds ahead of the deadline amid reports of additional verification requirements and transfer delays. Binance Australia has outlined new information requirements for deposits and […]
Jamie Lawrence Powrie has been granted strict bail conditions, including house arrest, while facing multiple criminal charges linked to alleged proceeds of crime. Prosecutors allege cryptocurrency connected to unlawful activity was used to purchase the Surfside home where he was arrested. The defence cited court delays and the technical nature of the case, with Powrie […]
Matt Hougan says investors should focus less on identifying Bitcoin’s exact bottom and more on the broader outlook shared by major research firms. Galaxy Digital, NYDIG and Standard Chartered disagree on whether BTC has already bottomed, with estimates ranging from roughly US$43,000 to US$59,000. Despite differing short-term views, all three firms expect Bitcoin to recover […]
Strategy acquired 1,587 Bitcoin for about US$100 million between June 8 and 15, raising total holdings to 846,842 BTC. The purchase, made at an average of US$63,024 per coin, sits below the firm’s US$75,656 average cost basis. Strategy funded the buy by selling roughly US$209 million of MSTR stock, more than double the amount spent […]
Reports of a Trump-brokered U.S.-Iran peace deal pushed Bitcoin to around US$65,300, with traders betting on lower geopolitical risk. WTI crude fell roughly 3% to about US$87.33 a barrel on hopes the Strait of Hormuz would reopen, reversing last week’s war-driven spike. The agreement’s terms and reported June 19 signing remain unconfirmed, leaving markets exposed […]
Bitcoin traded back above US$63,000 (AU$89,460) on June 11, rising about 2.5% even as Iran shut the Strait of Hormuz and oil spiked. WTI crude surged above US$91 (AU$129) a barrel after the closure of a waterway that carries roughly 20% of the world’s oil supply. The rebound held despite U.S. producer prices rising 5.1% […]