Connect with us

Bitcoin

US detaining Bitcoin mining equipment at border: report

Published

on



U.S. Customs and Border Protection, at the request of the Federal Communications Commission, has been detaining imports of Bitmain’s Antminer ASIC miners at ports nationwide for up to two months.

The delays have impacted seven U.S.-based Bitcoin (BTC) mining companies without answers, according to a report from Blockspace. The detained models include the S21 and T21 series miners.

CBP has not disclosed the reason for the detentions or provided a timeline for resolution. Some affected companies have reported daily holding fees exceeding $200,000.

The holds do not appear to target other ASIC manufacturers, such as MicroBT or Canaan, and are reportedly concentrated at West Coast ports like San Francisco.

Border delay speculation

Industry speculation suggests the delays may be related to scrutiny of chips supplied by Xiamen Sophgo, a Chinese semiconductor company under investigation for allegedly violating U.S. sanctions, according to Blockspace.

Sophgo’s chips, including the CV1835, are reportedly used in certain Antminer models, such as the S19 and T21 series. Sophgo’s CEO, Micree Zhan, is also a co-founder of Bitmain, raising questions about potential links to the investigation.

The Department of Commerce began investigating Sophgo after discovering a chip linked to the company in a Huawei device. Huawei has faced U.S. sanctions since 2019 over national security concerns.

While no confirmed link exists between these sanctions and the detained Antminer shipments, sources speculate the FCC and CBP are inspecting imports for restricted components.



Source link

Bitcoin

Bitcoin Primed for Major Moves As Macroeconomic Conditions Ease, Says Analyst Jamie Coutts – Here’s His Outlook

Published

on


Real Vision’s chief crypto analyst says that Bitcoin (BTC) may soon print a series of rallies as macroeconomic conditions could ease later this year.

In a new thread, crypto strategist Jamie Coutts tells his 37,300 followers on the social media platform X that market liquidity is expected to increase in the second half of 2025, which may pump Bitcoin.

“The bottom line, though, is that if Bitcoin can rally through the worst liquidity withdrawal in decades, it’s primed for more significant moves as conditions ease through the rest of the year. Watch the blue line [Base Money Liquidity to Debt Ratio] begin to tick higher in 2H (second half) of the year.”

Image
Source: Jamie Coutts/X

In addition to predicting money supply will increase faster than US debt, he also predicts that Bitcoin adoption will increase among US banks and sovereign wealth funds, helping to increase the value of the flagship crypto asset.

“More likely, base money outpaces government debt growth. What happens if base money expands faster than U.S. debt growth? In some reality, that might steady the ship and dampen the fear fueling Bitcoin adoption. But, in my view, that only hits the margins.

Meanwhile, deeper Bitcoin integration at both sovereign and banking levels is inevitable. Ultimately, US structural deficits are not changing. The US government will need to find new and inventive ways to ensure there is a bid for their debt.”

Bitcoin is trading for $84,090 at time of writing, flat on the day.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney



Source link

Continue Reading

24/7 Cryptocurrency News

Is Bitcoin Price Bottom In? Key Metrics Show rally Is Likely

Published

on


Bitcoin (BTC) price volatility is slowing down as the coin’s capitulation continues. At the time of writing, Bitcoin’s price was changing hands for $84,278.83 as it pared off the losses accrued in earlier trading. At this pace, the question now hinges on whether BTC can form sustainable support at the $84,000 price mark or whether further drawdown lies ahead.

Core Bitcoin Price Metric to Watch

According to Glassnode data, BTC Short-Term Holders (STH) are under increasing pressure. This group’s unrealized losses have surged, pushing many STH coins into losses. As revealed, their holdings are now nearing the two-standard deviation threshold. 

Despite this outlook, the data platform hinted that losses remain within historical bull market bounds. Specifically, it noted that these losses are less severe than the May 2021 sell-off from the all-time high. Glassnode said the rolling 30-day losses for STH have topped $7 billion. It confirmed that “this remains well below prior capitulation events, such as the $19.8B and $20.7B losses in 2021-22.”

BTC price jumped to an ATH above $109,000 in January but has since dropped by 22.79%. While experts predicted a drop of over 35%, the limited loss from holders can form a good rebound basis.

BTC Price Bottom In, Here Are Triggers for Rally

Over the past week, Bitcoin has rallied within very tight price ranges, from a low of $81,300 to a high of $87,320. Some market observers believe the coin has attained its floor price and might be set for a rebound.

While firms like Strategy have kept Bitcoin purchase plans alive with Strife’s perpetual stock offering, the Global Money Supply M2 also lays a positive basis for growth. With the current outlook, the projection that the $83,00 level is the BTC price floor is resounding among analysts.

The shift in regulation and the backing of Bitcoin by President Donald Trump creates a tailwind for the coin’s proponents. At the Digital Asset Summit earlier this week, President Trump reiterated the plan to make the US the crypto capital of the world.

Several government agencies have shifted their policies in this regard, which might attract investors in the long term.

How High Can Bitcoin Valuation Rise?

Despite the slowdown in growth in recent weeks, many market leaders are still confident in the coin’s prospects. As reported earlier by CoinGape, Bitwise CIO Matt Hougan maintained the price target of $1 million by 2029. He cited a longer-term reaction to macroeconomic uncertainties as the basis for his prediction.

While this Bitcoin price prediction appears lofty, others believe Bitcoin may cross $200,000 once the bull rally returns. With spot Bitcoin ETF hype and other growing institutional adoption, BTC price has an arguably bright future.

✓ Share:

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Bitcoin

Pakistan Plans To Legalise Bitcoin And Crypto

Published

on


Pakistan unveils plans to legalise bitcoin and crypto and implement a regulatory framework to attract foreign investment and boost adoption.

Bilal Bin Saqib, CEO of the Pakistan Crypto Council, told Bloomberg on Thursday that Pakistan has unveiled plans to legalise bitcoin and crypto and implement a regulatory framework to attract foreign investment and boost adoption.

The government aims to devise clear regulations and align with international best practices. Pakistan’s Finance Minister formed the PCC last week to steer the country’s crypto strategy.

“Pakistan is done sitting on the sidelines” regarding bitcoin and crypto, Saqib told Bloomberg. “We want to attract international investment because Pakistan is a low-cost, high-growth market with 60% of the population under 30.”

“Trump is making crypto a national priority, and every country, including Pakistan, will have to follow suit,” he said.

This move comes amid a global shift in attitudes towards bitcoin and crypto after the United States pushed for greater mainstream acceptance. The new stance is a stark change for Pakistan, which had previously banned crypto. By embracing bitcoin and crypto early, Pakistan is looking to position itself as a regional leader and attract investors.

Pakistan’s central bank had expressed concerns earlier. However, the government now seeks to mitigate risks through prudent legislation. Clear rules could boost innovation and prevent potential abuse of decentralised networks.





Source link

Continue Reading
Advertisement [ethereumads]
Bitcoin2 hours ago

Bitcoin Primed for Major Moves As Macroeconomic Conditions Ease, Says Analyst Jamie Coutts – Here’s His Outlook

coinbase2 hours ago

Themes ETFs exec on new 2X Coinbase fund: ‘We believe as the Bitcoin tide rises, it will lift all crypto boats’

Law and Order4 hours ago

Ethena’s USDe Stablecoin Sales Blocked by German Regulator Over ‘Serious Deficiencies’

24/7 Cryptocurrency News4 hours ago

Is Ethena Price At Risk? Market Maker Offloads $10M ENA Raising Concerns

coinbase6 hours ago

Coinbase Could Be Near Multi-Billion Dollar Deal for Deribit: Bloomberg

Uncategorized6 hours ago

Tether eyes Big Four firm for its first full financial audit: Report

Altcoins8 hours ago

Why Current ‘Boredom Phase’ Could Trigger Epic Rally

legal8 hours ago

US Treasury Removes Tornado Cash From OFAC Sanctions List

bank10 hours ago

21,899 Bank Customers Affected As US Lender Suffers Cybersecurity Breach, Hacker Taps Social Security Numbers and Other Sensitive Information

News10 hours ago

Tether eyeing ‘Big Four’ firm for reserve audit: CEO

Coins12 hours ago

Solo Bitcoin Miner Hits the Jackpot, Scoring $266K Reward

24/7 Cryptocurrency News12 hours ago

Is Bitcoin Price Bottom In? Key Metrics Show rally Is Likely

policy14 hours ago

SEC ‘Earnest’ About Finding Workable Crypto Policy, Commissioners Say at Roundtable

Uncategorized14 hours ago

John Reed Stark opposes regulatory reform at SEC crypto roundtable

ETH16 hours ago

Investors Withdraw 360,000 Ethereum From Exchanges In Just 48 Hours – Accumulation Trend?

Trending

    wpChatIcon