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London-based gold miner – BlueBird Mining Ventures(BMV) – has unveiled a strategic pivot by selling its gold holdings and eventually building its Bitcoin Treasury. Soon after the announcement, the BMV stock shot up 40% on the London Stock Exchange. The company said that strategic shift comes as gold’s position as a traditional store of value
The post Gold Miner BlueBird to Buy Bitcoin from Gold Revenues appeared first on CoinGape.
The Frankfurt am Main Public Prosecutor’s Office, in collaboration with the Central Office for the Combat of Internet Crime (ZIT) and the Federal Criminal Police Office (BKA), has shut down Germany-based cryptocurrency exchange eXch.
On April 30, law enforcement seized the exchange’s server infrastructure and approximately €34 million ($38.5 million) in crypto assets.
In a press release issued on May 9, the authorities revealed that the seized crypto assets included Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dash (DASH). They also confiscated over eight terabytes of data.
“Once again, we have been able to seize millions of euros’ worth of illicit cryptocurrencies and shut down a digital money-laundering platform. The scale of these operations clearly shows that cybercrimes are being committed on an industrial level,” Carsten Meywirth, Head of the Cybercrime Department of the German Federal Criminal Police Office, said.
The seizure of eXch followed allegations that the privacy-focused exchange was used to launder illicit funds. The platform allegedly operated without Know Your Customer (KYC) requirements and was accessible on both the Clearnet and Darknet.
The press release emphasized that the platform was advertised on criminal forums. It openly stated that it did not implement anti-money laundering measures. Users remained anonymous, with no identity verification and no data storage, making eXch ideal for hiding financial transactions.
According to German authorities, eXch facilitated around $1.9 billion in cryptocurrency transfers since its launch. They suspect that the exchange received Bitcoin of criminal origin.
Moreover, it was allegedly laundering a significant portion of the $1.5 billion stolen from the hacked cryptocurrency exchange Bybit in February. The Bybit hack, attributed to North Korea’s Lazarus Group, is one of the largest cryptocurrency thefts in history. Hackers siphoned off over 400,000 ETH from the exchange’s cold wallet.
“eXch was used to launder hundreds of millions from the Bybit hack, Multisig hack, FixedFloat exploit, $243 million Genesis Creditor theft, and countless phishing drainer services over the past few years with refusal to block addresses and freeze orders,” blockchain investigator, ZachXBT, wrote on Telegram.
Amid the allegations surrounding Bybit’s funds, eXch announced its voluntary closure effective May 1. The exchange cited a hostile environment and the pressure from the ongoing transatlantic operation, which involved allegations of money laundering and terrorism, as key reasons for their decision to shut down.
“The goals we certainly never had in mind were to enable illicit activities such as money laundering or terrorism, as we are being accused of now. We also have absolutely no motivation to operate a project where we are viewed as criminals. This doesn’t make any sense to us,” the April 17 announcement read.
However, just one day before eXch’s closure, German authorities acted and seized it. They stated that they managed to secure numerous pieces of evidence and traces. For now, the Frankfurt Prosecutor’s Office has not released additional details on potential charges or arrests related to the operation.
The post German Prosecutors Halt eXch Crypto Platform, Confiscate $38.5 Million in Digital Assets appeared first on BeInCrypto.
Ethereum opened trading at $1,913 on Wednesday, March 19, consolidating within a 5% range below the $2,000 resistance as investors awaited the U.S. Federal Reserve’s rate decision.
Ethereum price has remained trapped within a narrow range below $2,000, weighed down by uncertainty surrounding the Hoodi update and the Federal Reserve’s monetary policy stance.
While Ethereum was once projected to surpass Bitcoin in market capitalization, thanks to its decentralized finance (DeFi) and smart contract capabilities. However, Bitcoin has widened the valuation gap, outperforming ETH significantly in recent weeks.
The BTC/ETH ratio, which tracks the relative performance of both assets, hit a record high of 44.6 on March 14. With Bitcoin trading at $83000 and Ethereum at $1,900, 1 BTC can now purchase over 44 ETH, up 30% from the 1:33 ratio observed at the recent lows of February 25.
Ethereum’s sharp devaluation can be attributed to two key factors. Firstly, Trump’s new trade tariff policies have rattled global markets, prompting crypto investors to seek safety in Bitcoin over Ethereum.
Secondly, ETH price has struggled with network scalability issues and failed updates, which have dampened investor confidence.
Historical data suggests that Ethereum’s devaluation has accelerated after the Ethereum Merge, with multiple failed network upgrades pushing ETH supply above pre-Merge levels.
The Ethereum Foundation attempted to regain control by reshuffling leadership in February, yet investor sentiment remains bleak following the disappointing Pectra and Hoodi updates.
For context, Ethereum DeFi’s total value locked (TVL) was $118 billion on February 19.
However, as per DefiLlama data on March 19, that figure has now plunged to $89 billion, marking a $29 billion capital outflow—25% of the total deposits within Ethereum’s DeFi ecosystem.
This aligns with ETH’s 30% price decline, reinforcing Bitcoin’s dominance as the BTC/ETH trading ratio hit fresh highs.
The $29 billion drop-off in Ethereum’s DeFi TVL, coupled with continued scalability struggles ahead of the Fed rate decision heigtens bearish risks ahead. As liquidity dries up in the DeFi ecosystem, ETH coins previously locked in smart-contracts trickle into the short-term market supply.
Hence, if the capital outflows persist, ETH could face further downward pressure, potentially retesting the $1,500 support zone. Additionally, with Bitcoin dominance widening, ETH price risks losing more market share in the near-term especially if US Fed rate decision falls below market expectations on Wednesday.
Ethereum price forecast signals lean neutral as it consolidates near $1,941 after a prolonged downtrend, with key technical indicators signaling potential volatility ahead.
The 50-day Exponential Moving Average (EMA) at $2,413 and the 100-day EMA at $2,695 indicate a bearish trend, while the 200-day EMA at $2,851 reinforces long-term resistance.
Ethereum remains firmly below these moving averages, highlighting persistent selling pressure. However, a bullish reversal could emerge if buyers regain momentum above short-term resistance levels.
The Bearish Balance Power (BBP) indicator at -107.25 suggests that sellers have dominated price action, maintaining downward pressure over the past month.
The recent series of lower highs and lower lows further confirm bearish market structure. However, decreasing volume on red candles implies that selling momentum may be weakening, leaving room for a potential relief rally.
A breakout above $2,100 could trigger a short squeeze, forcing bears to cover positions, which may result in a rapid move toward $2,400-$2,500 before an ultimate correction.
If the U.S. Federal Reserve’s rate decision on Wednesday sparks a positive market reaction, Ethereum could swiftly breach $2,100, invalidating the bearish outlook and exposing short sellers to significant liquidations.
Failure to reclaim this level, however, could lead to another retest of $1,700-$1,500, extending the current downtrend.
The post Ethereum DeFi Ecosystem Sheds $29 Billion in 30 Days as BTC/ETH Ratio Hits All-Time Highs appeared first on CoinGape.
The post Bitcoin Price Jumps 8%: Has the Trend Reversed or Is This a False Rally? appeared first on Coinpedia Fintech News
Bitcoin is showing early signs of a possible comeback in demand, according to recent on-chain analytics. Over the past week, the Bitcoin market has risen by nearly 8%, giving investors hope that a bullish trend could be starting. But while some are getting excited, analysts like Teddy are warning people not to get too hopeful just yet.
Here’s a closer look at what the data really shows.
The Bitcoin Apparent Demand chart, based on a 30-day total, is starting to show signs of recovery from the negative zone.
Apparent Demand is a useful metric for measuring how much overall interest there is in Bitcoin. It compares how much new Bitcoin is being created through mining with changes in how much Bitcoin is being held for long periods.
When apparent demand is positive, it means more Bitcoin is being taken out of circulation—often stored long-term—than is being created by mining. This can reduce the available supply, which could push prices higher.
Right now, the apparent demand seems to be climbing back toward positive levels. If this trend continues, it might lead to a bullish rally in the near future.
Some analysts say this pattern looks familiar. In 2021, a similar trend appeared where demand remained weak for months even though prices stayed stable. It took a long period of market consolidation before a true recovery happened.
This could mean the recent bounce is just temporary relief—not a sign of strong recovery or growing long-term interest yet.
Teddy, a well-known crypto analyst, agrees that Bitcoin demand has improved. He points out that some buyers have returned to the market.
However, he also shares concerns. He believes that major macroeconomic events—like rising interest rates, new tariffs, or global tensions—could quickly reverse the current optimism.
US President Donald Trump has recently launched a tough tariff policy that’s affecting nearly every major type of investment, including cryptocurrencies.
Although the Trump administration gave a short 90-day pause on tariffs for countries that haven’t responded with their own, the President made it clear that he plans to fully move forward with the policy. He also dismissed rumors suggesting he might back down.
This raises a big question for Bitcoin investors: will those who’ve held Bitcoin for the long haul stay calm, or will they panic and sell if another major economic shock hits? Teddy believes the crypto market is one that rewards patience, not quick optimism.
Bitcoin started this year at $93,623.09. Just before Trump’s inauguration, it reached an all-time high of $109,595.64, growing by over 9.54% in January.
But things took a turn in February, when the market dropped by 17.5%, bringing the total decline since February to more than 16.15%. March was slightly better, with the market falling by just 2.19%.
At the beginning of April, Bitcoin was priced at $82,541.66. It briefly fell to $74,517 on April 7 but has since made a strong comeback. Since April 9, it has risen by more than 12.49%. In the past 24 hours alone, prices have gone up by 1.4%.
Hope is in the air, but so is uncertainty—and in crypto, that’s just another Tuesday.
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post Bitcoin Price Jumps 8%: Has the Trend Reversed or Is This a False Rally? appeared first on Coinpedia Fintech News
Bitcoin is showing early signs of a possible comeback in demand, according to recent on-chain analytics. Over the past week, the Bitcoin market has risen by nearly 8%, giving investors hope that a bullish trend could be starting. But while some are getting excited, analysts like Teddy are warning people not to get too hopeful …