Bitcoin Plunges Under $54K As Weak US Jobs Data Shakes Markets Bitcoin fell below $54,000 on September 6, 2024, following a disappointing US nonfarm payrolls report. This led to volatility in the crypto market, with Bitcoin losing roughly 4% in 24 hours and trading at $54,101. Other major altcoins, such as ether, XRP, and DOGE, … Read more
The United States Federal Reserve has issued a cease-and-desist letter to Bitcoin Magazine, accusing the publication of trademark violations. The dispute revolves around Bitcoin Magazine’s use of the word “FedNow” on merchandise such as t-shirts and hats. FedNow is the trademarked name of the Federal Reserve’s instant payment system. Bitcoin Magazine claims that the use … Read more
Bitcoin experienced a sudden drop to $27,000 following the release of US employment data, which showed stronger-than-expected job growth. This was seen as negative for risk assets, including cryptocurrencies. However, Bitcoin quickly rebounded and the focus shifted back to the $27,700 level. The data raised the likelihood of a potential interest rate hike by the … Read more
